Mumbai : Raymond Limited today announced its financial results for the quarter ended 30th June 2021
A snapshot of the financial results: (Post IND AS 116)
*Exceptional Items (net) includes: Fair valuation of development rights received as non-monetary compensation towards acquisition of land by TMC, Thane for public utilities and provision for discount sharing and certain inventory write down of apparel business severely impacted due to second wave of ongoing pandemic
Key highlights of the quarter
Commenting on the quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “The quarter gone by was a difficult one as it was severely impacted by the second wave of pandemic. However, we were able to handle the situation better with past learnings and closed the quarter with higher revenues. The consumer sentiments were seen positive during the month of June with higher number of wedding dates.
We were able to maintain strong profitable momentum in our Engineering business as we focused on the exports as domestic market was impacted due to lockdown. Rapid construction in our Real Estate business is seen as trigger by our consumers and aided the topline. With vaccination drive gaining pace, we are cautiously optimistic of consumer demand picking up with upcoming festival and wedding season.”
Q1FY22 Segmental Performance: Post IND AS 116
Branded Textile segment sales at Rs. 283 Cr as compared to Rs. 17 Cr in previous year. The recovery was hampered due to local lockdowns across the country impacting the primary & secondary sales. However, the segment witnessed recovery in later half of June month as primary sales picked up with partial unlocking of states in a phased manner. The segment reported EBITDA loss of Rs. 21 Cr.
Branded Apparel segment sales stood at Rs. 75 Cr. Both trade and retail channels impacted primarily due to continued lockdowns. The EBO and LFS channels continued to be impacted as most of the malls across the country remained shut during the quarter. The segment reported EBITDA loss of Rs. 29 Cr.
Retail Operations:
Garmenting segment sales at Rs. 98 Cr as compared to Rs. 100 Cr in previous year. The recovery was driven by gradual opening up of the global markets. However, the domestic plant operations were impacted due to local lockdown resulting in deferment of certain deliveries. EBITDA margin for the quarter at 0.9%.
High Value Cotton Shirting segment sales at Rs. 101 Cr as compared to Rs. 6 Cr in previous year. The recovery led by higher number of orders from our B2B customers. EBITDA margin for the quarter at 6.2%
Tools & Hardware segment sales at Rs. 110 Cr as compared to Rs. 20 Cr in previous year. Sales mainly driven by exports in key markets of LATAM, Africa & Asia. EBITDA margin for the quarter at 11.3%
Auto Components segment sales at Rs. 70 Cr as compared to Rs. 21 Cr in previous year. Sales mainly driven by exports market and well supported by recovery in auto sector in the domestic market. EBITDA margin for the quarter at 15.9%
Real Estate segment sales at Rs. 130 Cr with EBITDA margin for the quarter at 29.0%. The business continued fast paced construction activity during the quarter in all ten towers of the project. Constant active engagement with customers during lockdown through digital mediums coupled with sustained lower home loan interest rates triggered conversions of enquiries into bookings especially in the month of June. Overall, received 61 bookings in Q1FY22 resulting in total 1,448 units booked (over 60% of total inventory launched) till Jun-2021 with a booking value of Rs. 1,386 Cr.
Bengaluru, May 05, 2024
Indian National Space Promotion and
Bengaluru, India – May 02, 2024 – Agora, Inc.
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, 8 May 2024: As Akshaya Tritiya approaches, the anticipation for new beginnings and prosperity fills the air.
India – April 30, 2024 – Solitario, the premier destination for luxury lab-grown diamo
Mumbai - National, 29th April 2024: Greenply Industries Limited, a pioneer in the interior infrastructu