Founded in 1925, Raymond Limited is a multifaceted conglomerate with significant involvement in the Textile and Apparel sectors. It boasts a global presence across various industries, including Real Estate, FMCG, and Engineering, spanning over 55 countries, encompassing regions such as the USA, Europe, Japan, and the Middle East.
Raymond Limited operates an extensive retail network, comprising 1,638 stores. Within India, it maintains 1,589 stores in approximately 600 towns and cities, while overseas, it manages 49 stores spread across nine countries. This conglomerate is renowned as one of the world’s largest manufacturers of worsted suiting fabric, possessing both vertical and horizontal integration capabilities. Raymond’s core business, the branded Textile segment, is a major player in the Indian B2C market, specializing in suiting and shirting fabrics.
Raymond Ltd recently announced their Q1FY24 results in which sales of the company surged by 2.48% and stood at Rs 1,771 crore as compared to Q1FY23, whereas the operating profit of the company declined by 5.28% to Rs 197 crore as against Q1FY23. Net profit of the company jumped by 1,201% and stood at Rs 1067 crore as against Q1FY23. Additionally, it is important to note that net profit in Q1FY24 includes other income of Rs 1,036 crore. Furthermore, the company has been able to grow its sales by 8% (CAGR) over the past 3 years and net profit has grown by 53% (CAGR) for the same period.
The company has delivered stellar returns of 128% over the past year and whopping returns of 727% over the past 3 years. Additionally, the company has a ROCE of 21.7% and a ROE of 22.9%.
On Tuesday, shares of the company jumped by more than 13% and traded at its new 52-week high of Rs 2240. Additionally, the scrip had a spurt in volume by more than 8.21 times.
Investors should keep a close eye on this trending stock.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.