Raymond ends the year with stellar performance

22 Apr '11

2 min read

Raymond Limited announced its audited financial results for the quarter and year ended March 31, 2011.

The consolidated yearly sales for Raymond has witnessed a growth of 21% at Rs 3036 crore and EBITDA of Rs 479 crore which is up by 44% as compared to the corresponding previous year.

The Textile segment sales for the financial year ended March 2011 registered an increase of 21% to Rs1485 crore on the back of higher realizations in a buoyant domestic market. The Textile segment reported Earnings Before Interest and Tax (EBIT) of Rs 281 crore which is up by 65% compared to the corresponding previous year.

For the quarter ended March 2011, the segment reported sales of Rs 410 crore, which is higher by 26% as compared to the corresponding quarter of the previous year, while the textile segment EBIT was Rs 81 crore, higher by 52% compared to the corresponding quarter of the previous year.

The Branded Apparel business witnessed a 15% increase in the yearly sales to Rs 641 crore and EBITDA of Rs 66 crore for the year, higher by 65% compared to the corresponding previous year.

Raymond continues to operate one of the largest specialty retail networks in India in the textile and apparel space with 739 retail stores covering over 1.5 million square feet of retail space including 40 stores in Middle East and SAARC region. Like-to-like store sales growth for the quarter has been strong at 17%.

The Board of Directors of the Company has approved, subject to shareholders and statutory approval, merger of its subsidiary Raymond Woollen Outerwear Limited having operations at Jalgaon with the Company, appointed date being 1st April 2011.

The company has also successfully completed its Voluntary separation scheme at Thane plant during the year and has now decided to relocate the plant and machinery from Thane to Jalgaon thus leveraging synergies.

Raymond Limited

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