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Wednesday, 17 August 2011 |
Raymond’s textile segment’s sales for the first quarter of financial year ’12 have registered
an increase of 44 per cent to Rs 344 crores. This has happened on the back of higher volumes and improved realizations consequent to strong demand in the domestic market. The group’s textile solutions encompass everything -- from worsted suiting to denim and shirting. In terms of Earnings Before Interest and Tax (EBIT), the textile segment witnessed a six fold increase to Rs 30 crores as compared to Rs 5 crores in 2010.
The branded apparel business saw a 26 per cent increase in sale at Rs 188 crores and EBITDA of Rs 28 crores for the quarter. The EBITDA margin rose by 15 per cent as against a 10 per cent rise in 2010. Raymond continues to operate one of the largest specialty retail networks in India in the textile and apparel space with 750 retail stores. This includes 40 stores in Middle East and SAARC. The company has over 1.5 million sq. ft. of retail space. Like-to-like store sales growth for the quarter has been at 4 per cent. With over 60 per cent market share in India, Raymond is one of the largest integrated manufacturers of worsted fabric in the world. |
