Raymond
Raymond (RAYMOND) share price was ₹1,060.10 at the 28 Oct 2026 close; market capitalisation ₹7,057 Cr; P/E (TTM) 190.32; sector Realty. The share price rose 84.0% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 15.5% year on year to ₹605.6 Cr and net profit fell 99.4% year on year to ₹30.9 Cr (compared with Jun 2025). Promoters held 48.87% of Raymond in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 47/100 (Average) as of 28 Oct 2026.
Key Fundamentals
MicrocapRealtyConsumer DiscretionaryPrice-based figures as of 29 Oct 2026, 10:30 IST · EPS basis: Consolidated · TTM
Peer Comparison
Industrials › Realty › Residential Commercial Projects › Industrial Products
| ₹3,926.70 | 96.79 | 46,453 Cr | 14.26 | 0.04% | 19.61% | 25.98% | 4,896 Cr | 477 Cr | |
| ₹1,646.30 | 86.19 | 31,746 Cr | 11.09 | 0.10% | 11.28% | 14.83% | 5,510 Cr | 401 Cr | |
| ₹30,210.00 | 48.47 | 26,710 Cr | 5.73 | 0.35% | 11.76% | 15.68% | 4,959 Cr | 552 Cr | |
| ₹943.20 | 66.70 | 21,451 Cr | 10.72 | 0.00% | 16.79% | 22.04% | 2,236 Cr | 323 Cr | |
| ₹3,196.70 | 61.99 | 21,429 Cr | 4.53 | 0.00% | 7.64% | 12.03% | 4,043 Cr | 345 Cr | |
| ₹16,437.00 | 100.46 | 17,560 Cr | 5.78 | 0.21% | 4.56% | 5.85% | 3,824 Cr | 176 Cr | |
| Raymond (this company) | ₹1,045.00 | 187.61 | 6,957 Cr | 2.20 | 0.92% | 1.72% | -0.61% | 2,505 Cr | 64 Cr |
| Median 7 companies | ₹3,196.70 | 86.19 | 21,451 Cr | 5.78 | 0.10% | 11.28% | 14.83% | 4,043 Cr | 345 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 100/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
4- Company has delivered good profit growth of 84.7% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 131%
- Debtor days have improved from 230 to 85.9 days.
- Company's working capital requirements have reduced from 263 days to 18.2 days
Weaknesses
3- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -8.49% over past five years.
- Tax rate seems low
Technical Indicators
Oscillators
Bullish
Overall
Bullish
Moving Averages
Bullish
Analyst Rating
2 of 2 analysts rate Buy, 0 Hold, 0 Sell.
Updated 29 Oct 2026
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 13% · Jun 2026
Analyst Forecasts
AI Analysis — Bull vs Bear
Raymond Ltd trades at a market cap of Rs.3,914 Cr with an extraordinarily low PE of 0.7x and a PB of 1.36x, reflecting a business in transition post its demerger into a realty-focused entity. The company shows exceptional historical profit growth (85% CAGR over 5 years) and ROE (131% over 3 years), but core sales have declined at -8% CAGR over 5 and 10 years, and earnings quality is clouded by Rs.5,206 Cr of other income.
- Exceptional profit growth of 84.7% CAGR over the last 5 years demonstrates strong earnings trajectory
- 3-year ROE of 131% and last year ROE of 168% indicate highly efficient capital deployment relative to book value
- PE ratio of just 0.7x suggests the stock is trading at a steep discount to reported earnings
- Working capital days have dramatically improved from 263 days to 18.2 days, freeing up significant cash for operations
- Debtor days reduced from 230 to 85.9 days, indicating better receivables management and cash conversion
- TTM sales growth of 14% shows recent revenue momentum after years of decline
- Dividend yield of 1.72% provides some income return to shareholders at current levels
- 10-year stock CAGR of 19% and 5-year CAGR of 44% reflect long-term wealth creation for investors
- Compounded sales growth is negative at -8% over both 5-year and 10-year periods, indicating structural revenue erosion in the core business
- Other income of Rs.5,206 Cr forms a disproportionately large part of earnings, raising questions about sustainability and core operating profitability
- Low interest coverage ratio suggests the company's operating profits may not comfortably service its debt obligations
- TTM profit has declined 27%, reversing the recent growth trend and signaling potential earnings normalization
- Despite reporting repeated profits, the company is not consistently paying dividends, suggesting cash may be locked in operations or debt servicing
- Unusually low tax rate raises concerns about the quality and recurring nature of reported profits
- Stock has declined 13% over the last 1 year, underperforming broader market indices
- 3-year compounded sales decline of -35% reflects a sharp contraction in revenue base, likely due to demerger effects but still concerning for ongoing scale
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Defence CEO with BEL pedigree Jul 6
Raymond appointed Bhanu Prakash Srivastava, former CMD of Bharat Electronics Limited with 40+ years in defence tech, as CEO-Defense Business effective July 6, 2026. Focus on higher-value defence electronics and systems integration signals strategic ambition.
- 101st AGM concluded Jul 14
Raymond held its 101st Annual General Meeting on July 14, 2026, adopting financial statements and appointing auditors with no material surprises reported.
- Share warrant issue details updated Jul 2
Raymond clarified floor price methodology and revised shareholding patterns for the preferential issue of share warrants approved by shareholders on June 18, 2026.
TL;DR: Raymond's recent newsflow is light on operational updates but the appointment of a heavyweight defence industry veteran signals serious intent to scale its defence electronics business. No material headwinds surfaced in the period. The share warrant issuance suggests potential capital raise or promoter stake changes worth monitoring. Near-term catalysts will depend on defence order wins and clarity on realty project launches.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 473 | 470 | 678 | 266 | 450 | 474 | 466 | 557 | 524 | 528 | 557 | 603 | 606 |
| Expenses | 431 | 427 | 622 | 256 | 418 | 449 | 435 | 513 | 470 | 485 | 497 | 529 | 529 |
| Operating Profit | 42 | 44 | 57 | 10 | 32 | 25 | 31 | 44 | 54 | 43 | 60 | 74 | 77 |
| OPM % | 9% | 9% | 8% | 3.7% | 7% | 5% | 7% | 8% | 10% | 8% | 11% | 12% | 13% |
| Other Income | 1,065 | 153 | 192 | 249 | 7,394 | 96 | 95 | 156 | 5,339 | -131 | 9 | -10 | 22 |
| Interest | 8 | 9 | 22 | 5 | 16 | 16 | 16 | 17 | 19 | 22 | 21 | 23 | 20 |
| Depreciation | 16 | 17 | 18 | 21 | 35 | 37 | 37 | 37 | 39 | 38 | 38 | 37 | 38 |
| PBT | 1,083 | 170 | 210 | 234 | 7,375 | 68 | 73 | 146 | 5,336 | -148 | 10 | 4 | 41 |
| Tax % | 2% | 5% | 12% | 2% | 0% | 13% | 1% | 6% | 0% | -109% | 30% | -185% | 25% |
| Net Profit | 1,067 | 161 | 185 | 230 | 7,367 | 59 | 72 | 137 | 5,328 | 14 | 7 | 12 | 31 |
| EPS (₹) | 160 | 23.99 | 27.55 | 34.42 | 1,106 | 9.02 | 10.83 | 19.93 | 800 | 1.71 | 0.54 | 0.17 | 3.15 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5,333 | 5,177 | 5,353 | 5,906 | 6,582 | 6,482 | 3,446 | 6,179 | 8,215 | 973 | 1,947 | 2,212 | 2,293 |
| Expenses | 4,905 | 4,790 | 5,048 | 5,481 | 6,013 | 5,966 | 3,507 | 5,474 | 7,015 | 957 | 1,815 | 1,981 | 2,039 |
| Operating Profit | 427 | 387 | 305 | 426 | 569 | 516 | -60 | 705 | 1,199 | 16 | 132 | 232 | 254 |
| OPM % | 8% | 7% | 6% | 7% | 9% | 8% | -1.7% | 11% | 15% | 1.6% | 7% | 10% | 11% |
| Other Income | 95 | 93 | 82 | 137 | 120 | 285 | 186 | 6 | 31 | 1,719 | 7,741 | 5,206 | -110 |
| Interest | 200 | 190 | 178 | 184 | 233 | 303 | 276 | 228 | 257 | 8 | 65 | 84 | 85 |
| Depreciation | 162 | 159 | 157 | 170 | 196 | 340 | 314 | 240 | 235 | 59 | 146 | 152 | 151 |
| PBT | 160 | 132 | 52 | 208 | 260 | 159 | -465 | 243 | 737 | 1,668 | 7,662 | 5,202 | -93 |
| Tax % | 27% | 35% | 42% | 32% | 33% | -27% | -35% | -9% | 27% | 1% | 0% | -3% | — |
| Net Profit | 120 | 86 | 30 | 142 | 175 | 202 | -304 | 265 | 537 | 1,643 | 7,636 | 5,361 | 64 |
| EPS (₹) | 18.37 | 13.81 | 4.16 | 21.93 | 27.36 | 30.31 | -44.6 | 39.09 | 79.42 | 246 | 1,146 | 802 | 5.57 |
| Div. Payout % | 16% | 22% | 30% | 14% | 11% | 0% | 0% | 8% | 4% | 4% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 61 | 61 | 61 | 61 | 61 | 65 | 67 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 1,480 | 1,611 | 1,612 | 1,751 | 1,892 | 2,311 | 2,031 | 2,293 | 2,832 | 4,551 | 3,650 | 2,777 |
| Borrowings | 1,881 | 2,063 | 2,140 | 2,353 | 2,468 | 2,556 | 2,413 | 2,353 | 2,529 | 4,181 | 740 | 1,055 |
| Other Liabilities | 1,227 | 1,170 | 1,425 | 1,925 | 2,219 | 2,790 | 2,220 | 2,654 | 2,779 | 4,203 | 3,260 | 835 |
| Total Liabilities | 4,650 | 4,905 | 5,238 | 6,090 | 6,640 | 7,722 | 6,730 | 7,366 | 8,207 | 13,001 | 7,716 | 4,734 |
| Fixed Assets | 1,274 | 1,174 | 1,169 | 1,741 | 1,935 | 2,441 | 2,044 | 1,878 | 1,934 | 3,475 | 1,772 | 1,524 |
| CWIP | 196 | 240 | 412 | 271 | 114 | 40 | 21 | 25 | 36 | 99 | 10 | 39 |
| Investments | 427 | 609 | 640 | 636 | 540 | 598 | 500 | 1,100 | 1,639 | 2,826 | 1,120 | 1,695 |
| Other Assets | 2,753 | 2,881 | 3,016 | 3,443 | 4,051 | 4,644 | 4,164 | 4,363 | 4,598 | 6,601 | 4,814 | 1,476 |
| Total Assets | 4,650 | 4,905 | 5,238 | 6,090 | 6,640 | 7,722 | 6,730 | 7,366 | 8,207 | 13,001 | 7,716 | 4,734 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 380 | 317 | 348 | 395 | 251 | 390 | 704 | 677 | 804 | 533 | 233 | 42 |
| Investing | -140 | -211 | -223 | -415 | -127 | -148 | 64 | -425 | -476 | -1,042 | -232 | -180 |
| Financing | -250 | -118 | -122 | 30 | -149 | -130 | -668 | -323 | -319 | 502 | -104 | 230 |
| Net Cash Flow | -10 | -12 | 3 | 9 | -25 | 113 | 100 | -71 | 10 | -6 | -102 | 91 |
| Free Cash Flow | 156 | 95 | 70 | -102 | 10 | 198 | 702 | 646 | 702 | 337 | 91 | -71 |
| CFO/EBITDA | 104 | 95 | 126 | 102 | 56 | 83 | -1,133 | 101 | 73 | 3,845 | 265 | 50 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 74 | 72 | 67 | 70 | 65 | 101 | 52 | 33 | 528 | 76 | 86 |
| Inventory Days | 181 | 195 | 200 | 235 | 247 | 287 | 363 | 328 | 304 | 3,796 | 220 | 237 |
| Days Payable | 110 | 98 | 120 | 164 | 176 | 183 | 258 | 279 | 206 | 2,229 | 133 | 168 |
| Cash Conversion Cycle | 134 | 171 | 151 | 138 | 141 | 169 | 206 | 100 | 131 | 2,095 | 163 | 155 |
| Working Capital Days | 23 | 19 | -21 | -29 | -29 | -23 | 11 | 2 | 1 | 506 | 266 | 18 |
| ROCE % | 10% | 10% | 6% | 9% | 11% | 9% | -4% | 13% | 21% | 0% | 1% | 3% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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66 extracted metrics + investor summaries across FY07–FY27.
Documents
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Company Information
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]
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