Raymond logo

Raymond

RAYMOND NSE

Key Fundamentals

MicrocapResidential Commercial ProjectsRealty
Market Cap
₹5,903 Cr
Volatility
High Risk
P/E Ratio
180.04
EBITDA
₹335 Cr
Return on Equity
1.72%
Debt to Equity
0.37
Book Value
₹427.2
52W High
₹869
52W Low
₹320

Tapetide Score

Data-driven rating, 0–100. How it works →

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

Growth Rate

Revenue Growth
9.81% higher than 3Y
Net Income Growth
2.88% lower than 3Y
Cash Flow Change
-82.08% higher than 3Y
ROE
37.6% higher than 3Y
ROCE
-120% higher than 3Y
EBITDA Margin (Avg.)
-8.93% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI opinion · based on fundamentals
Risk high

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.

Bull Case 8
  • 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
Bear Case 8
  • 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

Anthropic anthropic claude-opus-4.6 44d ago
Positives 1
  • 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.

Neutral 2
  • 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 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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 in Rs
160
23.99
27.55
34.42
1,106
9.02
10.83
19.93
800
1.71
0.54
0.17
3.15
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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 in Rs
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%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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/OP
104
95
126
102
56
83
-1,133
101
73
3,845
265
50
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

DIIs3.81%Promot.48.87%Others6.60%FIIs7.89%Public32.82%As ofJun 2026

Documents

Frequently Asked Questions about Raymond

What does Raymond Ltd do?
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 Compan...
Where is Raymond Ltd (RAYMOND) listed?
Raymond Ltd trades as RAYMOND on the NSE and under code 500330 on the BSE.
Which sector does Raymond Ltd belong to?
Raymond Ltd is classified under the Realty sector, in the Residential Commercial Projects industry.
What is the market capitalisation of Raymond Ltd?
Raymond Ltd has a market capitalisation of ₹5,903 Cr, which places it in the Mid Cap band.
What is the PE ratio of Raymond Ltd?
Raymond Ltd trades at a PE ratio of 180.04, against a book value of ₹427.2 per share.
What is the 52-week high and low of Raymond Ltd?
Over the last 52 weeks Raymond Ltd has traded between ₹320 and ₹869.
Does Raymond Ltd pay dividends?
Raymond Ltd has a dividend yield of 1.17%.
What is the Return on Equity (ROE) of Raymond Ltd?
Raymond Ltd reported a return on equity of 1.72%. Its debt-to-equity ratio is 0.37.

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]

Website raymond.in
CEO Mr. Gautam Hari Vijaypat Singhania
Employees 375
Listed 1995-10-18
Face Value ₹ 10
Issued Size 6,65,73,731

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