Home / Knowledge / News / Textiles / Raymond's textile segment sales up 6% in Q1 FY'12

Raymond's textile segment sales up 6% in Q1 FY'12

26
Jul '12
Raymond Limited announced its un-audited financial results for the quarter ended June 30, 2012.

The standalone Textile segment net sales for the quarter ended 30 June 2012 witnessed an increase of 6% at Rs 366 crore on the back of both higher volumes and better realization in the export market. However, margins have been impacted due to challenging domestic environment and increase in input costs.

The Branded Apparel business net sales stood at Rs 171 crore, down by 3% on YoY basis and reported EBITDA of Rs 10 crore as against Rs 23 crore in the corresponding previous quarter. The business has been impacted due to poor consumer sentiment and early end of season sale.

Raymond’s exclusive retail network across all formats and geographies stood at 867 stores as on 30 June 2012, covering over 1.6 million square feet of retail space. The company added 28 stores during the quarter and closed 14 stores during the quarter.

The High Value cotton shirting fabric business has witnessed improved performance during the quarter. The sales stood higher by 29% at Rs 68 crore while EBITDA was higher by 82% at Rs 10 crore. Capacity utilization has increased on expanded capacity.

The Indian operations of Denim business has witnessed 3% sales growth during the quarter to Rs 198 crore, while EBITDA stood at Rs 25 crore, up by 18% compared to the previous year. Margins have witnessed improvement mainly due to correction in cotton prices.

Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, "Keeping in line with industry sentiments, the first quarter results of the 2012-13 financial year for Raymond is reflecting a subdued trend. We are hopeful that the global economic uncertainties and the domestic scenario will improve going forward. We are therefore confident that this should bolster market sentiment and help the industry steer back on a growth path in the second half of the financial year. We at Raymond will continue to focus on our core areas of brand building, innovation and enhancing customer experience."

Raymond


Must ReadView All

Pic: Ritu Manoj Jethani / Shutterstock.com

Apparel/Garments | On 31st Jul 2021

US firm Steve Madden moves production to Mexico & Brazil from China

As supply chain disruption remains a significant challenge, American...

Pic: GBG USA

Apparel/Garments | On 31st Jul 2021

Apparel & footwear firm GBG USA files for bankruptcy protection

GBG USA, an indirect wholly owned subsidiary of Global Brands Group...

Pic: Shutterstock

Apparel/Garments | On 31st Jul 2021

Asian garment industry market concentration, consolidation rise: ILO

Although Asia's garment market rose in size in value terms before the ...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Footwear Industry, Footwear Retailers

Footwear Industry
Footwear Retailers

Still struggling to mop up higher sales

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Meghavi Suthar,

Meghavi Suthar

Founded by NIFT graduate <b>Meghavi Suthar </b>in 2017, Kala is an...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search