Raymond share price gains 5% as Q2 profit more than doubles; details here

Raymond share price: Shares of apparel maker Raymond soared up to 4.51 per cent to hit an intraday high of Rs 1,762.30 per share on Tuesday, November 05, 2024.

 

The surge in Raymond share price came after the company posted a healthy set of numbers in the September quarter of financial year 2025 (Q2FY25).

 

Raymond’s profit from continuing operations more than doubled to Rs 59 crore in the September quarter of FY25, from Rs 27.8 crore in the September quarter of FY24. 

 

Revenue from operations,meanwhile, zoomed to Rs 1,044.7 crore in Q2FY25, from Rs 470 crore in the same quarter last year. 

 

 

At the operating levels, earnings before interest, tax, depreciation and amortisation, soared to Rs 116 crore in Q2FY25, from Rs 55.8 crore in Q2FY24. 

 

Ebitda margin, however, squeezed 80 basis points to 11.1 per cent in the September quarter of FY25, from 11.9 per cent in the September quarter of FY24. 

 

Segment-wise show 

 

Real Estate biz 

Raymond Realty achieved a revenue of Rs 571 crore in Q2FY25, a 135 per cent increase from Rs 243 crore in Q2 FY24, with an Ebitda of Rs 112 crore compared to Rs 47 crore the previous year. In September 2024, they launched Park Avenue – High Street Reimagined Retail, a 0.08 Mn sq ft project in Thane that garnered major interest. 

 

Engineering biz 

The engineering segment reported sales of Rs 443 crore in Q2FY25, doubling from R s201 crore in the same quarter last year. The performance was supported by strong domestic demand for Flex plates, Ring Gear, and Shaft Bearings, although exports were hindered by weak demand and geopolitical issues. Raymond Limited maintains a net cash surplus of Rs 685 crore for future growth.

 

“We witnessed good momentum both in Real Estate and Engineering businesses. With the launch of Park Avenue- High Street Reimagined, the first of its kind retail space in Thane, Raymond Realty has taken yet another pioneering step to create the aspirational ecosystem for its current and upcoming residential projects. The project execution remains our USP as our endeavour is to continue to deliver before RERA timelines. The seamless integration of Maini operations with JK Engineering has taken an affirmative shape and has started positive results with growth in the overall engineering business,” said Gautam Hari Singhania, chairman and managing director, Raymond Limited.

 

At 10:00 AM, Raymond shares were trading a little over 2 per cent higher at Rs 1,720.60. In comparison, BSE Sensex was trading 0.10 per cent lower at 78.707.31 levels.