Here's a ‘suit’able fit for investors!
Shares of Raymond Ltd touched a 52-week high in Wednesday's trading session.
Raymond is India’s largest integrated worsted suiting manufacturer that offers end-to-end solutions for fabrics and garments. It has one of the largest exclusive retail networks in the country with around 1,400 stores in more than 600 towns.
The group has a presence in the engineering space engaged in precision-engineered products with an expansive presence e in national as well as international markets. The company forayed into the realty sector through the launch of its maiden project TenX - an ‘aspirational district’ spread across 14 acres housing 3,100 residential units. It has recently launched a premium residential project – The Address by GS Raymond and also has a presence in the FMCG sector through Raymond Consumer care that offers a wide range of products in the men’s grooming category and personal hygiene.
The company recorded its highest profitable quarter in 10 years in December 2021. It has delivered exceptional results by recording revenue of Rs 1,101 crore; and net profit of Rs 144 crore.
The branded textile and branded apparel businesses grew due to an increase in weddings and other festivities. As the pandemic subdued, 100% of retail stores started functioning leading to a surge in average transaction value. The garment segment witnessed growth in exports and their real estate segment witnessed growth in bookings as the overall liquidity in the market along with customer sentiments improved.
The company is continuously focusing on cost optimization and its management said that they are on a path to being a debt-free company.
As of March 30, shares of Raymond Ltd ended at Rs 837.90 showcasing a growth of 11%.
Raymond has informed that the trading window for dealing in securities of the company by designated persons and their immediate relatives shall remain closed from Friday, April 01, 2022, till 48 hours after the declaration of Financial Results of the Company for the Fourth Quarter and Financial Year ending March 31, 2022.
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