Textiles and vogue retailer Raymond Group mentioned that it has earned a consolidated income of Rs 6,438 crore in FY2021-22, up from Rs 3,648 crore in FY2020-21, as per its annual report. The Gautam Singhania-led behemoth raked in earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) of Rs 881 crore in FY22, a rise of 13.49 per cent from Rs 135 crore in FY21. Raymond’s whole property grew from Rs 6,740 crore in FY21 to Rs 7,377 crore in FY22.

The corporate’s internet revenue stood at Rs 260 crore whereas its revenue earlier than taxes reached Rs 413 crore in FY22. Raymond’s internet debt reached Rs 1,088 crore in FY22 throughout the identical interval. Raymond noticed a dip in its numbers in FY21 as a result of coronavirus pandemic that upended the worldwide economic system.

Raymond’s shopper enterprise contains of branded textile, branded attire and retail. Its branded textile division raked in gross sales price Rs 2,789 crore and exports to greater than 40 nations whereas the attire enterprise logged gross sales price Rs 891 crore. As of FY22, Raymond has 1,351 unique shops, 1,304 shops in over 600 cities and cities in India and 47 shops in eight nations.

Raymond’s B2B entrance contains of companies like garmenting (high-end fits, jackets, trousers and shirts) and high-value cotton shirting (cotton and linen). Raymond’s garmenting enterprise logged gross sales price Rs 725 crore primarily from the US, Europe and Japan and exports to over 20 nations. Its high-value cotton shirting enterprise raked in gross sales price Rs 572 crore.

The report learn, “With fixed concentrate on operational efficiencies and price rationalisation, the corporate achieved 21 per cent decrease working value as in comparison with FY20 (pre-COVID ranges).” The corporate additionally listed fluctuations in foreign money, larger curiosity prices and frequent adjustments in uncooked materials costs resulting in decrease margins as its huge challenges.

As a way to deal with larger uncooked materials costs, the corporate sources wool from Australia, South Africa, the US and Paraguay, linen flex from Belgium and France and cotton yarns domestically. It added, “We handle worth fluctuation dangers by way of mixture of ahead and spot bookings, stock administration, pre-emptive vendor improvement practices and worth hikes undertaken.”

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