Indian firm Raymond's revenue reaches record high of $1.1 bn in FY24
03 May 24 2 min read
Insights
- Raymond has posted its highest-ever annual revenue of ₹92.86 billion (approximately $1.1 billion) and EBITDA of ₹15.75 billion in FY24.
- The company's strategic focus on branded apparel and garmenting segments led to an impressive 11 per cent revenue growth.
- In Q4 FY24, Raymond witnessed significant expansion, with a 23 per cent increase in revenue.
In Q4 FY24, Raymond delivered significant growth in both revenue and profitability, marking the 11th consecutive quarter of sustained growth. During this quarter, revenue surged by 23 per cent year-on-year (YoY), reaching ₹26.88 billion, accompanied by the highest-ever EBITDA of ₹5.1 billion and an EBITDA margin of 19.2 per cent, the company said in a media release.
In terms of segmental performance in Q4 FY24, the branded textile segment maintained its top line at ₹9.2 billion, despite muted customer demand and challenging market conditions, with EBITDA margins remaining steady at 21.9 per cent due to operational efficiency.
The branded apparel segment reported a remarkable topline growth of 23 per cent, with sales reaching ₹4.09 billion, compared to ₹3.32 billion in the same quarter last year.
- Analysing India's trade deficit: Impact of textile exports
- PFAS threat in water from areas near Bangladesh textile units: Study
- Bangladesh's BTMA calls for uninterrupted gas supply to textile mills
- Bangladesh budget proposes only 1% customs duty on PTA, MEG imports
- India’s leading textile firms report mixed performance in FY24
- Polyester, PC & viscose yarn prices up amid fibre hike & high demand
The garmenting segment witnessed sales of ₹2.8 billion, down from ₹3.05 billion in the previous year, with an improved EBITDA margin of 11.3 per cent.
High value cotton shirting reported sales of ₹2.13 billion, up by 14 per cent from the same quarter last year, driven by higher demand for linen fabric offerings from B2B customers in the domestic market, with an EBITDA margin of 11.5 per cent.
“I am satisfied with the performance across businesses, and they have demonstrated consistent growth throughout the year. Our Lifestyle business showed strong perseverance and recorded growth despite headwinds and muted consumer demand. We remain committed to delivering value to stakeholders and are confident in our ability to capitalise on growth opportunities, ensuring sustained success in the future,” said Gautam Hari Singhania, chairman and managing director.
Fibre2Fashion News Desk (DP)
Popular News
|
ICE cotton continues decline, reversing earlier gains |
|
From FY12 to FY23/24: India's statistical indices to get an update? |
|
India’s leading textile firms report mixed performance in FY24 |
|
Confidence among Dutch manufacturers improves again: CBS |
|
US cotton exports rise in week ending May 23: USDA |
|
Bangladesh 3rd largest apparel supplier for Malaysia this year |