Shares of Raymond soar by 20 per cent; do you know why?
Shares of Raymond Limited made a fresh 52-week high on Thursday. The scrip was up by 20 per cent and was trading at Rs 1274.75, on the BSE.
Shares of Raymond Limited made a fresh 52-week high on Thursday. The scrip was up by 20 per cent and was trading at Rs 1274.75, on the BSE.
The company's quarterly consolidated financials reveal that the operating profit for Q4FY2022 is Rs 358.04 crore compared to the operating profit of Rs 196.67 crore for Q4FY2021, an increase of 82.05 per cent. Net sales for the Q4FY2022 stand at Rs 1958.10 crore, recording an increase of 43.38 per cent, compared to the net sales of Rs 1365.66 crore in the same quarter last year. The net profit has also increased multiple folds and stands at Rs 262.96 crore since the same period which was at Rs 45.75 crore in Q4FY21, presenting a phenomenal increase of 474.78 per cent.
Having established its dominance in the textiles, Raymond is also an aggressive player in the ready-to-wear apparel segment with reputed brands such as Park Avenue, Raymond Ready To Wear ColorPlus and Parx that are a part of its product portfolio. Having pioneered the innovative concept of customised clothing, ‘Raymond Made To Measure’ offers luxurious service that allows discerning customers to personalize their ensemble bringing together their own personal tastes.
Raymond Group also has an extensive presence in the B2B space, through its garment business. Raymond’s state of the art and wholly-owned subsidiaries such as Silver Spark Apparel Ltd, Celebrations Apparel Ltd & Everblue Apparel Ltd craft suits, trousers, shirts and jeans for leading fashion labels across the world and is the only manufacturer of full canvas premium jackets in India.