Raymond Ltd

About [ edit ]

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. # #

Key Points [ edit ]
  • Market Cap 2,934 Cr.
  • Current Price 441
  • High / Low 474 / 233
  • Stock P/E
  • Book Value 315
  • Dividend Yield 0.00 %
  • ROCE -3.76 %
  • ROE -12.6 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -7.81% over past five years.
  • Company has a low return on equity of 0.91% for last 3 years.
  • Earnings include an other income of Rs.160.24 Cr.
  • Debtor days have increased from 78.86 to 101.46 days.

Peer comparison

Sector: Textiles Industry: Textiles - Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,848 1,675 1,809 1,435 1,883 1,885 1,279 163 674 1,243 1,366 826
1,663 1,526 1,642 1,326 1,676 1,679 1,297 415 791 1,130 1,211 862
Operating Profit 185 149 166 109 207 206 -18 -252 -117 114 155 -36
OPM % 10% 9% 9% 8% 11% 11% -1% -154% -17% 9% 11% -4%
Other Income 27 29 27 35 33 179 50 58 58 54 54 -7
Interest 60 70 49 74 79 78 72 72 75 68 61 55
Depreciation 50 48 52 81 86 88 85 84 83 76 71 61
Profit before tax 102 60 93 -11 76 219 -125 -349 -217 23 78 -159
Tax % 36% 34% 27% -10% -14% 10% 45% 29% 37% 5% 25% 1%
Net Profit 63 38 68 -15 84 195 -68 -242 -133 22 56 -157
EPS in Rs 10.25 6.12 11.00 -2.42 13.68 30.17 -10.55 -36.37 -19.98 3.26 8.48 -23.51

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
2,480 3,016 3,642 4,069 4,548 5,333 5,177 5,353 5,906 6,582 6,482 3,446 4,109
2,316 2,649 3,189 3,741 4,104 4,909 4,793 5,048 5,484 6,013 5,967 3,507 3,993
Operating Profit 164 367 454 328 444 423 384 305 423 569 516 -60 116
OPM % 7% 12% 12% 8% 10% 8% 7% 6% 7% 9% 8% -2% 3%
Other Income 101 -90 82 88 73 99 97 82 139 120 286 186 160
Interest 129 124 165 191 197 200 190 178 184 233 303 276 259
Depreciation 177 161 166 189 196 162 159 157 170 196 340 314 291
Profit before tax -40 -8 204 37 125 160 132 52 208 260 159 -465 -274
Tax % -24% 628% 30% 68% 24% 27% 35% 42% 32% 33% -27% 35%
Net Profit -44 54 156 29 108 113 85 26 135 168 196 -297 -211
EPS in Rs -7.16 8.75 25.38 4.68 17.53 18.38 13.82 4.16 21.93 27.37 30.30 -44.62 -31.75
Dividend Payout % 0% 11% 10% 21% 11% 16% 22% 30% 14% 11% 0% 0%
Compounded Sales Growth
10 Years:1%
5 Years:-8%
3 Years:-16%
TTM:-21%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-158%
Stock Price CAGR
10 Years:2%
5 Years:-1%
3 Years:-18%
1 Year:84%
Return on Equity
10 Years:4%
5 Years:2%
3 Years:1%
Last Year:-13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
61 61 61 61 61 61 61 61 61 61 65 67
Reserves 1,114 1,159 1,301 1,318 1,405 1,480 1,611 1,612 1,751 1,892 2,311 2,031
Borrowings 1,692 1,609 1,747 1,753 1,901 1,881 2,063 2,140 2,353 2,468 2,556 2,177
639 764 875 1,032 1,056 1,227 1,170 1,425 1,925 2,219 2,790 2,456
Total Liabilities 3,507 3,594 3,984 4,164 4,422 4,650 4,905 5,238 6,090 6,640 7,722 6,730
1,416 1,280 1,348 1,307 1,256 1,274 1,174 1,169 1,741 1,935 2,441 2,044
CWIP 63 84 126 174 174 196 240 412 271 114 40 21
Investments 630 500 508 524 515 427 609 640 636 540 598 500
1,399 1,730 2,001 2,159 2,477 2,753 2,881 3,016 3,443 4,051 4,644 4,164
Total Assets 3,507 3,594 3,984 4,164 4,422 4,650 4,905 5,238 6,090 6,640 7,722 6,730

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
250 76 232 326 192 380 317 348 395 251 390 702
-45 88 -196 -163 -56 -140 -211 -223 -415 -127 -148 66
-218 -168 -32 -161 -119 -250 -118 -122 30 -149 -130 -668
Net Cash Flow -13 -4 4 2 17 -10 -12 3 9 -25 113 100

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 5% 11% 12% 7% 9% 10% 10% 6% 9% 12% 9% -4%
Debtor Days 66 59 64 66 68 63 74 72 67 70 65 101
Inventory Turnover 1.76 1.71 1.76 1.90 1.97 2.27 2.07 2.08 1.88 1.73 1.47 0.92

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
43.92 44.08 44.28 43.99 43.99 46.78 46.78 48.27 48.27 48.27 48.84 49.12
8.64 10.09 10.70 11.56 13.61 10.98 10.85 7.74 6.37 6.39 6.43 8.63
17.13 15.65 12.96 12.76 10.71 10.90 10.54 7.64 4.38 4.37 4.29 4.18
30.31 30.18 32.07 31.69 31.69 31.34 31.83 36.35 40.99 40.98 40.44 38.07

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