Raymond Limited announced its consolidated financial results for the quarter ended 30th September, 2022. Raymond continues to deliver high operating performance along with profitable growth for the 4th consecutive quarter leveraging optimism in the market and improved consumer demand. Focused approach has driven growth over pre Covid levels and cost consciousness has led to deliver yet another record profitable quarter
B2C businesses continue to grow with buoyant sentiments and celebrations at large that provided an impetus to sales across the country. Garmenting export business continued to show resilience and the order book remained healthy from US & Europe markets inspite of significant challenges of inflation. The real estate sector witnessed the sustained demand from home buyers that contributed to growth in our realty business with varied product offerings.
The Net Debt has reduced to Rs. 1,286 cr as on 30th September, 2022 as compared to Rs. 1,310 cr in 30th June, 2022 through free cash-flow generation driven by strong profitability. However, there was an increase in working capital deployment primarily in production and sales to meet strong festive and winter wedding demand in H2
Commenting on the strong quarter performance, Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “All our businesses are delivering consistent growth in both revenues and profitability on quarter on quarter. All 4 quarters are respectively record quarters in the last 12 months. Our quality products and services are tailored to meet the ever changing demand from consumers be it fashion or real estate and this approach has helped us to achieve profitable growth.
