Apparel and real estate drive growth

Company
11 Mar 2024
5 Min read 
  • Raymond reported 10% revenue growth and 13% EBITDA growth in 3QFY24.
  •  Growth was driven by the real estate segment (up 50% YoY) and branded apparels segment (up 20% YoY).
  •  The engineering business faced challenges due to sluggish conditions in the export market.
  •  Raymond has three distinct vectors for growth: Lifestyle, Real Estate, and an engineering unit.
  •  The company plans to expand its retail store network and open 250-300 stores in the next 12-18 months.
  •  The stock is trading at a lower valuation compared to the retail & discretionary coverage universe.
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