Raymond reported a good set of Q3 earnings led by branded textile business. Sanjay Bahl, Group CFO of the company discussed more on the company’s Q3 numbers. “Working capital improvement, the operational efficiencies are kicking in and are responsible for the free cash flow that we are seeing in the business are very encouraging,” he said.
“We have set ourselves a target in our branded apparel segment of reaching to double-digit EBITDA level by the year 2020, he added. The company is in the phase of making investments in the product range ensuring that we have our double-digit revenue growth,” said Bahl. It is a seasonal cyclical business, there are primary dispatches which happened, he further mentioned.
“Overall for the year, we are confident that we will be able to deliver profitable EBITDA margin growth in the apparel business which should be in line with our strategy of reaching double-digit EBITDA by 2020,” Bahl said.