Indian firm Raymond's revenue reaches record high of $1.1 bn in FY24

In Q4 FY24, Raymond delivered significant growth in both revenue and profitability, marking the 11th consecutive quarter of sustained growth. During this quarter, revenue surged by 23 per cent year-on-year (YoY), reaching ₹26.88 billion, accompanied by the highest-ever EBITDA of ₹5.1 billion and an EBITDA margin of 19.2 per cent, the company said in a media release.

In terms of segmental performance in Q4 FY24, the branded textile segment maintained its top line at ₹9.2 billion, despite muted customer demand and challenging market conditions, with EBITDA margins remaining steady at 21.9 per cent due to operational efficiency.

The branded apparel segment reported a remarkable topline growth of 23 per cent, with sales reaching ₹4.09 billion, compared to ₹3.32 billion in the same quarter last year.

The garmenting segment witnessed sales of ₹2.8 billion, down from ₹3.05 billion in the previous year, with an improved EBITDA margin of 11.3 per cent.

High value cotton shirting reported sales of ₹2.13 billion, up by 14 per cent from the same quarter last year, driven by higher demand for linen fabric offerings from B2B customers in the domestic market, with an EBITDA margin of 11.5 per cent.

“I am satisfied with the performance across businesses, and they have demonstrated consistent growth throughout the year. Our Lifestyle business showed strong perseverance and recorded growth despite headwinds and muted consumer demand. We remain committed to delivering value to stakeholders and are confident in our ability to capitalise on growth opportunities, ensuring sustained success in the future,” said Gautam Hari Singhania, chairman and managing director.

Fibre2Fashion News Desk (DP)