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 2,222 Cr.
  • Current Price 334
  • High / Low 409 / 212
  • Stock P/E
  • Book Value 301
  • Dividend Yield 0.00 %
  • ROCE 8.68 %
  • ROE 7.75 %
  • Face Value 10.0

Pros

  • Stock is trading at 1.11 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 3.98% over past five years.
  • Company has a low return on equity of 7.97% for last 3 years.

Peer comparison

Sector: Textiles Industry: Textiles - Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,630 1,251 1,848 1,675 1,809 1,435 1,883 1,885 1,279 163 674 1,243
1,479 1,183 1,663 1,526 1,642 1,326 1,676 1,679 1,297 415 791 1,130
Operating Profit 151 68 185 149 166 109 207 206 -18 -252 -117 114
OPM % 9% 5% 10% 9% 9% 8% 11% 11% -1% -154% -17% 9%
Other Income 28 37 27 29 27 35 33 179 50 58 58 54
Interest 49 53 60 70 49 74 79 78 72 72 75 68
Depreciation 51 47 50 48 52 81 86 88 85 84 83 76
Profit before tax 79 5 102 60 93 -11 76 219 -125 -349 -217 23
Tax % 31% 63% 36% 34% 27% -10% -14% 10% 45% 29% 37% 5%
Net Profit 53 0 63 38 68 -15 84 195 -68 -242 -133 22
EPS in Rs 8.65 0.00 10.25 6.12 11.00 -2.42 13.68 30.17 -10.55 -36.37 -19.98 3.26

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
2,530 2,480 3,016 3,642 4,069 4,548 5,333 5,177 5,353 5,906 6,582 6,482 3,359
2,511 2,316 2,649 3,189 3,741 4,104 4,909 4,793 5,048 5,484 6,013 5,967 3,632
Operating Profit 18 164 367 454 328 444 423 384 305 423 569 516 -273
OPM % 1% 7% 12% 12% 8% 10% 8% 7% 6% 7% 9% 8% -8%
Other Income 30 101 -90 82 88 73 99 97 82 139 120 286 221
Interest 133 129 124 165 191 197 200 190 178 184 233 303 288
Depreciation 167 177 161 166 189 196 162 159 157 170 196 340 328
Profit before tax -251 -40 -8 204 37 125 160 132 52 208 260 159 -667
Tax % 9% -24% 628% 30% 68% 24% 27% 35% 42% 32% 33% -27%
Net Profit -226 -44 54 156 29 108 113 85 26 135 168 196 -422
EPS in Rs -36.87 -7.16 8.75 25.38 4.68 17.53 18.38 13.82 4.16 21.93 27.37 30.30 -63.64
Dividend Payout % 0% 0% 11% 10% 21% 11% 16% 22% 30% 14% 11% 0%
Compounded Sales Growth
10 Years:10%
5 Years:4%
3 Years:7%
TTM:-52%
Compounded Profit Growth
10 Years:35%
5 Years:10%
3 Years:79%
TTM:-238%
Stock Price CAGR
10 Years:0%
5 Years:-4%
3 Years:-32%
1 Year:32%
Return on Equity
10 Years:8%
5 Years:7%
3 Years:8%
Last Year:8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
61 61 61 61 61 61 61 61 61 61 61 65 67
Reserves 1,134 1,114 1,159 1,301 1,318 1,405 1,480 1,611 1,612 1,751 1,892 2,311 1,940
Borrowings 1,823 1,692 1,609 1,747 1,753 1,901 1,881 2,063 2,140 2,353 2,468 2,975 2,180
695 639 764 875 1,032 1,056 1,227 1,170 1,425 1,925 2,219 2,371 2,940
Total Liabilities 3,714 3,507 3,594 3,984 4,164 4,422 4,650 4,905 5,238 6,090 6,640 7,722 7,127
1,515 1,416 1,280 1,348 1,307 1,256 1,274 1,174 1,169 1,741 1,935 2,441 2,268
CWIP 85 63 84 126 174 174 196 240 412 271 114 40 37
Investments 630 630 500 508 524 515 427 609 640 636 540 598 519
1,485 1,399 1,730 2,001 2,159 2,477 2,753 2,881 3,016 3,443 4,051 4,644 4,303
Total Assets 3,714 3,507 3,594 3,984 4,164 4,422 4,650 4,905 5,238 6,090 6,640 7,722 7,127

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
332 250 76 232 326 192 380 317 348 395 251 373
-507 -45 88 -196 -163 -56 -140 -211 -223 -415 -127 -130
201 -218 -168 -32 -161 -119 -250 -118 -122 30 -149 -130
Net Cash Flow 26 -13 -4 4 2 17 -10 -12 3 9 -25 113

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % -0% 5% 11% 12% 7% 9% 10% 10% 6% 9% 12% 9%
Debtor Days 66 66 59 64 66 68 63 74 72 67 70 65
Inventory Turnover 1.54 1.76 1.71 1.76 1.90 1.97 2.27 2.07 2.08 1.88 1.73 1.47

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
43.68 43.92 44.08 44.28 43.99 43.99 46.78 46.78 48.27 48.27 48.27 48.84
9.83 8.64 10.09 10.70 11.56 13.61 10.98 10.85 7.74 6.37 6.39 6.43
17.90 17.13 15.65 12.96 12.76 10.71 10.90 10.54 7.64 4.38 4.37 4.29
28.59 30.31 30.18 32.07 31.69 31.69 31.34 31.83 36.35 40.99 40.98 40.44

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