Raymond Q4 Results: Net Profit Jumps 18% To Rs 229 Crore; Dividend Announce Rs 10 Sh

Raymond, on Friday posted robust financial results for the fourth quarter ended March 2024, showcasing a remarkable 18% surge in consolidated net profit to Rs 229 crore compared to Rs 194 crore in the corresponding period last year.

The company's revenue also witnessed a substantial upswing, soaring by 23% to Rs 2,688 crore, as compared to Rs 2,192 crore in the previous year.

Moreover, Raymond's impressive performance in Q4 FY24 extends beyond financial metrics. The company achieved record-breaking revenue and profitability, underscoring its market leadership and operational excellence. With revenue surging by 23% year-on-year to reach Rs 2,688 crore, Raymond also achieved its highest-ever EBITDA of Rs 516 crore, coupled with an EBITDA margin of 19.2%.

This stellar performance reflects Raymond's resilience and strategic prowess amidst a dynamic market landscape.

The company's prudent business decisions and operational efficiency have evidently propelled its growth trajectory, marking the 11th consecutive quarter of sustained expansion.

In a regulatory filing, Raymond's board of directors announced a dividend of 100%, equivalent to Rs 10 per equity share, for the financial year 2023-24. This move underscores the company's commitment to delivering value to its shareholders and underscores confidence in its future prospects.

In a filing to the stock exchange, the company stated: "The re-appointment of Mr Gautam Hari Singhania as Managing Director is subject to approval of the Members of the Company and is in compliance with the requirements of Stock Exchange circulars NSE/CML/2018/24 and BSE/LIST/COMP/14/2018-19 both dated June 20, 2018."

"The board of directors has recommended the payment of a dividend of 100% on the equity share capital, i.e., Rs 10 per equity share of the face value of Rs 10 (Rupees Ten) each for the financial year ended March 31, 2024, subject to the approval of the shareholders at the ensuing 99th Annual General Meeting," Raymond stated in his filing.

In November 2023, the couple announced their divorce. Last Monday, Nawaz Modi was ousted by three privately held Raymond Group companies: JK Investors (Bombay), Raymond Consumer Care and Smart Advisory, and Finserve. Nawaz Modi served on the boards of JK Investors, Smart Advisory - Finserve, and Raymond Consumer Care Ltd (RCCL).Three hours ago

This exceptional performance attests to Raymond's strong market position and its ability to capitalise on emerging opportunities while navigating challenges effectively. The company's focus on innovation, customer-centricity, and operational agility has evidently paid off, enabling it to consistently deliver value to stakeholders even amidst a volatile business environment.

Looking ahead, Raymond remains committed to driving sustainable growth and enhancing shareholder value through strategic investments, innovation, and operational excellence. With a solid foundation and a track record of performance, Raymond is well-positioned to capitalise on evolving market dynamics and emerge as a frontrunner in the global textile and garment industry.

As Raymond gears up for its 99th Annual General Meeting, shareholders can anticipate a fruitful discussion on the company's performance, outlook, and future growth trajectory. The proposed dividend payout further underscores Raymond's confidence in its business fundamentals and its commitment to creating long-term value for all stakeholders.