Raymond Ltd

₹ 975 3.87%
18 Aug - close price
About

Raymond Limited incorporated in 1925 is a diversified group with interests in Textile & Apparel sectors as well as presence across diverse segments such as Real Estate, FMCG, Engineering in national and international markets 55+ Countries including the USA, Europe, Japan & Middle East. The Company has a retail network of 1,638 stores, including 1,589 stores in about 600 towns and cities in India and 49 overseas stores in nine countries. It is one of the largest vertically and horizontally integrated manufacturers of worsted suiting fabric in the world. [1] [2]

Key Points

Business Segments
The company operates in two major segments: lifestyle and engineering. Lifestyle includes suiting, garments, apparel, denim, and shirting. Engineering includes tools and hardware and automotive components. India contributes 84% of the Revenue while the Rest of the world contributes 16%. [1]

  • Market Cap 6,493 Cr.
  • Current Price 975
  • High / Low 1,280 / 390
  • Stock P/E 10.6
  • Book Value 354
  • Dividend Yield 0.31 %
  • ROCE 13.2 %
  • ROE 16.2 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 65.2% CAGR over last 5 years
  • Debtor days have improved from 72.8 to 51.6 days.

Cons

  • Stock is trading at 2.75 times its book value
  • The company has delivered a poor sales growth of 2.91% over past five years.
  • Company has a low return on equity of 3.73% for last 3 years.
  • Promoters have pledged 31.8% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Textiles Industry: Textiles - Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
1,435 1,883 1,885 1,279 163 674 1,243 1,366 826 1,551 1,843 1,958 1,728
1,326 1,676 1,679 1,297 415 791 1,130 1,211 862 1,372 1,568 1,674 1,520
Operating Profit 109 207 206 -18 -252 -117 114 155 -36 180 275 284 208
OPM % 8% 11% 11% -1% -154% -17% 9% 11% -4% 12% 15% 15% 12%
35 33 179 50 58 58 54 54 -7 24 26 -35 28
Interest 74 79 78 72 72 75 68 61 55 58 57 57 59
Depreciation 81 86 88 85 84 83 76 71 61 60 60 59 58
Profit before tax -11 76 219 -125 -349 -217 23 78 -159 86 184 133 118
Tax % -10% -14% 10% 45% 29% 37% 5% 25% 1% 34% 45% -100% 31%
Net Profit -15 84 195 -68 -242 -133 22 56 -157 53 100 263 81
EPS in Rs -2.42 13.68 30.17 -10.55 -36.37 -19.98 3.26 8.48 -23.51 8.00 15.06 39.55 12.15

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
3,016 3,642 4,069 4,548 5,333 5,177 5,353 5,906 6,582 6,482 3,446 6,179 7,081
2,649 3,189 3,696 4,118 4,905 4,790 5,048 5,481 6,013 5,966 3,507 5,474 6,133
Operating Profit 367 454 373 430 427 387 305 426 569 516 -60 705 948
OPM % 12% 12% 9% 9% 8% 7% 6% 7% 9% 8% -2% 11% 13%
-90 82 43 87 95 93 82 137 120 285 186 6 42
Interest 124 165 191 197 200 190 178 184 233 303 276 228 232
Depreciation 161 166 189 196 162 159 157 170 196 340 314 240 237
Profit before tax -8 204 37 125 160 132 52 208 260 159 -465 243 520
Tax % 628% 30% 68% 24% 27% 35% 42% 32% 33% -27% 35% -9%
Net Profit 54 156 29 108 113 85 26 135 168 196 -297 260 498
EPS in Rs 8.75 25.38 4.68 17.53 18.38 13.82 4.16 21.93 27.37 30.30 -44.62 39.11 74.76
Dividend Payout % 11% 10% 21% 11% 16% 22% 30% 14% 11% 0% 0% 8%
Compounded Sales Growth
10 Years: 5%
5 Years: 3%
3 Years: -2%
TTM: 72%
Compounded Profit Growth
10 Years: 10%
5 Years: 65%
3 Years: 28%
TTM: 457%
Stock Price CAGR
10 Years: 10%
5 Years: 5%
3 Years: 18%
1 Year: 136%
Return on Equity
10 Years: 5%
5 Years: 5%
3 Years: 4%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
61 61 61 61 61 61 61 61 61 65 67 67
Reserves 1,159 1,301 1,318 1,405 1,480 1,611 1,612 1,751 1,892 2,311 2,031 2,293
1,609 1,747 1,753 1,901 1,881 2,063 2,140 2,353 2,468 2,556 2,413 2,327
764 875 1,032 1,056 1,227 1,170 1,425 1,925 2,219 2,790 2,220 2,683
Total Liabilities 3,594 3,984 4,164 4,422 4,650 4,905 5,238 6,090 6,640 7,722 6,730 7,369
1,280 1,348 1,307 1,256 1,274 1,174 1,169 1,741 1,935 2,441 2,044 1,878
CWIP 84 126 174 174 196 240 412 271 114 40 21 25
Investments 500 508 524 515 427 609 640 636 540 598 500 1,100
1,730 2,001 2,159 2,477 2,753 2,881 3,016 3,443 4,051 4,644 4,164 4,367
Total Assets 3,594 3,984 4,164 4,422 4,650 4,905 5,238 6,090 6,640 7,722 6,730 7,369

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
76 232 326 192 380 317 348 395 251 390 704 677
88 -196 -163 -56 -140 -211 -223 -415 -127 -148 64 -425
-168 -32 -161 -119 -250 -118 -122 30 -149 -130 -668 -323
Net Cash Flow -4 4 2 17 -10 -12 3 9 -25 113 100 -71

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 59 64 66 68 63 74 72 67 70 65 101 52
Inventory Days 275 251 219 222 181 195 200 235 247 287 363 328
Days Payable 134 114 121 120 110 98 120 164 176 183 258 280
Cash Conversion Cycle 200 200 164 170 134 171 151 138 141 169 206 100
Working Capital Days 70 72 51 81 65 70 57 42 67 78 98 42
ROCE % 11% 12% 7% 9% 10% 10% 6% 9% 12% 9% -4% 13%

Shareholding Pattern

Numbers in percentages

4 recently
Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
43.99 46.78 46.78 48.27 48.27 48.27 48.84 49.12 49.12 49.04 49.16 49.16
13.61 10.98 10.85 7.74 6.37 6.39 6.43 8.63 7.25 9.58 10.21 14.18
10.71 10.90 10.54 7.64 4.38 4.37 4.29 4.18 4.15 4.66 4.69 4.90
31.69 31.34 31.83 36.35 40.99 40.98 40.44 38.07 39.48 36.72 35.94 31.76

Documents

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