Shares of Raymond are buzzing on the bourses, hits 52-week high

Shares of Raymond are buzzing on the bourses, hits 52-week high

by 5paisa Research Team Last Updated: Dec 14, 2022 - 10:56 pm 26.8k Views
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Raymond stock is the top gainer today.

Market opened flat today. S&P BSE Sensex at 55832.44, as against the previous close of 55831.17. However, as trading began for the day, the market fell by almost 0.45%, and again recovered to trade positively. At 11:13 am, S&P BSE Sensex is trading at 55400. One of the stocks in group A ripping today is Raymond Limited.

Raymond is up 12.5 % for the day, trading at Rs 1195 at 11:13 am. The stock opened at Rs 1064, as against its previous close at Rs 1062.3. The stock is moving upwards with great volume, making a new 52-week high today. The stock made a daily high and low at Rs 1215 and 1051.05. It is up for the 6th consecutive day and is showing no signs of stopping even as there is no latest news for the stock. However, the company had announced their Q4 results in mid-May. Since then, the stock has rallied more than 50%.

The company experienced 43% YOY growth in its revenue for Q4 FY22, reported at Rs 1,958 crore. The company maintained its same 15% Q3 operating margin in Q4 as well. The EBITDA in Q4 was recorded at Rs 249 crore, as against Rs 209 in Q4 FY21. The net profit for Q4 FY22 was at Rs 263 crore, as against Rs 53 crore in Q4 FY21. There was a significant YOY increase of 396% in net profit, despite relatively lesser growth in EBITDA. This was due to reduced interest and depreciation expenses in Q4 FY22 for the company.

Raymond operates in the Textile and Apparel Industry. The company has a retail network of 1,638 stores, including 1,589 stores in around 600 cities and towns in India, and 49 overseas stores in 9 countries. It has a market capitalization of Rs 7,847.38 crore.

For the FY22 period ending, the company has an ROE and ROCE of 17.7% and 14.2%, respectively. The company is trading at PE and PB of 19.2x and 3.2x, respectively.

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