RAYMOND

By Praveen Paramasivam

Sept 4 (Reuters) - Raymond Lifestyle RAYL.NS plans to reduce prices on select apparel items, an executive said on Thursday, making the suitmaker one of the first companies to respond to the Indian government's move to cut consumption tax.

The biggest tax code restructuring in eight years by Prime Minister Narendra Modi's government - made after U.S. President Donald Trump imposed punishing tariffs on imports from India - lowers the goods and services tax on clothing costing less than 2,500 rupees to 5%.

Before the change, apparel that retailed at 1,000 rupees and above attracted 12% GST.

"Immediately from September 22, we will pass on (the tax benefits to consumers)," Raymond Group CFO Amit Agarwal told Reuters, adding that roughly two-thirds of Raymond's apparel was priced below 2,500 rupees.

Raymond also plans to lower the prices of items priced just above 2,500 rupees to bring them under the reduced tax bracket.

The branded apparel business accounts for a quarter of Raymond Lifestyle's revenue.

Industry watchers and corporate India executives expect prices on everything from small cars to everyday essentials to be slashed following the revision.

Agarwal, however, downplayed revenue concerns and said increased volumes would counter price cuts.

Raymond's website shows many of its formal shirts are available at under 1,000 rupees, with only a fraction of its nearly 1,200 styles priced above 2,500 rupees. All blazers and jackets, however, are priced above 2,500 rupees.

Customers looking to buy blazers and jackets do not mind the price tags, Agarwal said.

In contrast, premium global apparel brands such as Lacoste and Superdry will be hit by the tax changes, as most of their offerings, including t-shirts, are priced above 2,500 rupees.

($1 = 87.5060 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai; Editing by Pooja Desai)

(([email protected]; +91 867-525-3569;))

** Indian aerospace and auto components supplier Raymond RYMD.NS drops 2.5% to 627.35 rupees after Q1 results

** Co's core profit falls 8% and EBITDA margin contracts from 18.9% to 15.7%, due to a reduction in other income after Raymond demerged its real estate business

** Revenue rises 17%, led by 37% growth in aerospace and defense business and a 12% increase in auto components

** YTD, Raymond up ~11%

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

** India's Raymond Realty RAYO.NS falls 6.21% to 679.7 rupees after Q1 results

** Stock set for worst day since listing after demerger from Raymond RYMD.NS on July 1

** Raymond Realty's Q1 net profit slumps 52%, while revenue falls 23%

** Core profit margin contracts to 10.5% from 13.5%

** RAYO says performance reflects sales moderation due to limited unsold inventory in its matured real estate projects

** Adds, second half of the year will see improved performance due to planned new launches

** RAYO down 32% from its list price on July 1

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

** Shares of engineering co Raymond RYMD.NS rise 1% to 704 rupees

** Antique Stock Broking initiates coverage with “buy” rating; sets PT at 903 rupees, 30% upside from stock's last close

** Brokerage expects consol revenue/EBITDA/PAT CAGR of 16%/38%/55% over FY25–28, led by aerospace and auto components

** Adds, co restructuring expected to unlock value and improve execution

** Highlights aerospace business to benefit from global supply chain shifts, strong OEM ties, and India’s rising role in precision manufacturing

** Stock up 24% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

(([email protected]))

By Praveen Paramasivam and Bharath Rajeswaran

June 10 (Reuters) - India's Raymond Realty, recently carved out from the namesake conglomerate, is on track to list in early July as the group looks to streamline its corporate structure, a top executive told Reuters on Tuesday.

This will be Raymond's RYMD.NS third publicly traded entity after Raymond Lifestyle, which houses the suits and shirts business.

"The exact date (for the listing) is not confirmed yet, but it should be early July," Gautam Singhania, chairman and managing director of the group, said in an interview, without elaborating.

Each shareholder will receive one share of Raymond Realty for every share held in Raymond, the group said previously.

Raymond approved the demerger of Raymond Realty on May 1 and announced May 14 as the record date to determine eligible shareholders for the real estate business.

The stock fell around 66% on May 14 because of a price adjustment after the demerger, but the decline was not a real loss for investors, just a technical revision in the share price.

After adjusting for the demerger, Raymond's shares jumped nearly 23% in May, their biggest monthly gain since June 2024.

Brokerage Systematix expects Raymond Realty to be priced at 1,076 rupees per share and forecast operating profit of 5.97 billion rupees ($69.7 million) in the ongoing fiscal 2026.

The business reported a 45% rise in revenue to 23.13 billion rupees for the financial year ended March 31, with operating profit up 37% at 5.07 billion rupees.

($1 = 85.6150 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema)

(([email protected]; +91 867-525-3569;))

April 8 (Reuters) - Raymond Ltd RYMD.NS:

• RAYMOND - NCLT SANCTIONS SCHEME OF ARRANGEMENT OF RAYMOND AND RAYMOND REALTY

Source text: ID:nNSE17VwCV

Further company coverage: RYMD.NS

(([email protected];;))

Feb 19 (Reuters) - Raymond Ltd RYMD.NS:

• RAYMOND LTD - REPORTS CYBER SECURITY INCIDENT IMPACTING IT ASSETS

• RAYMOND LTD - CORE SYSTEMS AND CUSTOMER OPERATIONS UNAFFECTED BY CYBER INCIDENT

• RAYMOND LTD - INITIATES PRECAUTIONS AND PROTOCOLS TO MITIGATE CYBER INCIDENT

Source text: ID:nBSE8PYrFx

Further company coverage: RYMD.NS

(([email protected];;))

Jan 29 (Reuters) - Raymond Ltd RYMD.NS:

• RAYMOND Q3 CONSOL NET PROFIT 721.3 MILLION RUPEES

• RAYMOND Q3 CONSOL REVENUE FROM OPERATIONS 9.54 BILLION RUPEES

Source text: [ID:]

Further company coverage: RYMD.NS

(([email protected];;))

Dec 19 (Reuters) - Raymond Ltd RYMD.NS:

• NCLT DISPOSES FIRST MOTION APPLICATION FOR SCHEME OF ARRANGEMENT OF CO WITH RAYMOND REALTY

Source text: ID:nNSExd06x

Further company coverage: RYMD.NS

(([email protected];))

** Raymond RYMD.NS gains 5.9% to 1,517.9 rupees; eyes best one-day pct gain since Aug. 22

** Co gets "no objection" letter from National Stock Exchange and Bombay Stock Exchange to spin off its real estate business, Raymond Realty

** Says the business will be listed on NSE and BSE after necessary approvals

** More than 443,000 shares traded, 1.5x its 30-day avg

** Stock up 45% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected]))

Nov 21 (Reuters) - Raymond Ltd RYMD.NS:

• BSE, NSE GIVE NO OBJECTION TO SCHEME BETWEEN CO, RAYMOND REALTY

Source text: ID:nNSEbmjQGf

Further company coverage: RYMD.NS

(([email protected];))

** Shares of Raymond RYMD.NS rise as much as 4.5% to 1,763 rupees; last up 2%

** Real estate developer reports 49% rise in Q2 adjusted profit, driven by higher demand for its premium properties

** Stock on track to gain for seventh straight session

** More than 488,000 shares traded, 1.7x the 30-day avg

** RYMD up 65% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

Nov 4 (Reuters) - India's Raymond Ltd RYMD.NS reported a 49% rise in its second-quarter profit on Monday, driven by higher demand for its premium properties.

The company, which sells luxury homes and auto parts, said its consolidated profit from continuing operations before exceptional items rose to 889.8 million rupees ($10.6 million) for the July-September quarter from 598.9 million rupees a year earlier.

It reported an exceptional charge of 230.1 million rupees in the year-ago quarter.

India's housing sector is seeing consistent demand for home ownership, especially high-margin premium properties.

Additionally, the government's emphasis on infrastructure development and attractive interest rates have bolstered buyer confidence, particularly for luxury- and mid-range segments.

Raymond's mainstay real estate segment, which accounts for 55% of overall revenue, reported a more than two-fold surge in revenue during the quarter.

This lifted its total revenue by two-fold to 10.45 billion rupees.

Separately, Raymond Lifestyle RAYL.NS, the company's apparel business, carved out of Raymond Ltd, made its market debut in September.

Raymond's shares closed nearly 2% higher ahead of its results.

($1 = 84.0890 Indian rupees)

(Reporting by Ashna Teresa Britto; Editing by Sherry Jacob-Phillips)

(([email protected];))

By Praveen Paramasivam

Oct 22 (Reuters) - Indian apparel firm Raymond Lifestyle RAYL.NS will hire about 9,000 workers for hundreds of stores it plans to add in the next three years, Group Chairman Gautam Singhania told Reuters.

Founded in 1925, Raymond's RYMD.NS business, which also includes its real estate and engineering units, spun off its lifestyle division earlier this year to simplify its group structure, attract more investors and help the carved-out entity access more capital.

The apparel firm is looking to hire 10 people per store, on average, at the 900 outlets it plans to open, Singhania said on Monday, without disclosing the size of its current workforce at its nearly 1,500 stores.

Additionally, Raymond Lifestyle will also hire for roles in its factories as it aims to increase its garmenting capacity, he said without elaborating, as Bangladesh - a major apparel production hub - grapples with political unrest and floods.

The firm, which counts apparel chains such as J.C. Penney and Macy's M.N among its customers, is receiving a large number of inquiries from its global clients as brands "have decided to move to India to meet their requirements," Singhania said.

Its garments business, which exports to the United States, Europe and Japan, reported sales of 11.39 billion rupees ($135.5 million) last year, accounting for over a tenth of the group's revenue.

Separately, Singhania said Raymond Lifestyle, popular for its men's suits, is exploring the burgeoning fast fashion space in India, noting that Tata Group-owned Zudio TREN.NS "has done very well" in this category.

Indian retail firm Trent, which owns Zudio, has been outperforming its peers as consumers looking to refresh their wardrobes on a tight budget flock to its stores to snap up everything from dresses to perfumes at less than 999 rupees (about $12).

($1 = 84.0700 Indian rupees)

(Reporting by Praveen Paramasivam; Editing by Sonia Cheema)

(([email protected]; +91 867-525-3569;))

** Shares of India's Raymond RYMD.NS rise as much as 8.5% to 2,181.6 rupees

** Move comes after Economic Times newspaper reported co's fashion and retail unit, Raymond Lifestyle, will start trading in Mumbai on Thursday

** Group will have three listed entities by next year

** Stock clocks busiest session since early July this year; set to rise for second straight session, if gains hold

** YTD stock has surged ~106%

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

Corrects to add dropped word "leave" in paragraph 3

BENGALURU, Aug 6 (Reuters) - India's Raymond Ltd RYMD.NS reported a 40% rise in its first-quarter adjusted profit on Tuesday, helped by strength in its real estate and engineering business as it shifted away from its once mainstay textiles and apparel businesses.

The nearly 100-year-old conglomerate has been going through a major shift in its businesses that started with selling its consumer goods business, including brands such as Park Avenue deodorant and Kamasutra condoms, early last year to spinning off its textiles and apparel business in the latest quarter.

The realty business, which accounted for just roughly 53% of Raymond's revenue in the quarter, will also be spun off, which will leave Raymond Ltd with just its engineering business.

Sales in the engineering business, which includes making automotive and aerospace parts, doubled in the quarter, while real estate sales surged 108%.

That helped Raymond's adjusted profit before tax to rise to 920 million rupees (nearly $11 million) in the April-to-June quarter from 660 million rupees last year.

Raymond said it expects the lifestyle business to be listed on the stock exchanges this quarter and has started the process of spinning off its realty business.

Once done, Raymond Ltd, Raymond Lifestyle and Raymond Realty be part of the broader Raymond Group.

($1 = 83.9051 Indian rupees)

(Reporting by Indranil Sarkar and Ashna Teresa Britto in Bengaluru; Editing by Savio D'Souza)

(([email protected]; Mobile: +91 7022132226;))

** Shares of India's Raymond RYMD.NS up 4%; rose as much as 7.1% earlier in the day

** Co's board approved demerger of its realty business, said Raymond Realty Ltd will operate as separate listed entity

** Stock set to snap three-session losing run, if gains hold

** Trading vols 1.2x 30-day avg in early trade

** YTD stock has surged ~76%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

July 4 (Reuters) - Raymond Ltd RYMD.NS:

• APPROVED SCHEME OF ARRANGEMENT OF CO AND RAYMOND REALTY

• SCHEME PROVIDES FOR DEMERGER OF REAL ESTATE BUSINESS CARRIED ON BY CO INTO RAYMOND REALTY

• APPROVED SHARE EXCHANGE RATIO OF 1 SHARE OF RAYMOND REALTY FOR 1 SHARE OF RAYMOND

Further company coverage: RYMD.NS

(([email protected];))

** Shares of textile co Raymond RYMD.NS rise as much as 12% to hit record high at 2,695 rupees, last up 6.5%

** Reuters could not immediately ascertain a reason for the stock move

** Stock witnessing its most active trading session since May 2, with more than 1.6 mln shares changing hands, 7.2x the 30-day average

** All four analysts covering the stock have a "strong buy" rating; median PT is 2,635 rupees - LSEG data

** Stock up 40.4% so far this quarter vs rise of 4.9% in March quarter

** Stock up 47.2% YTD

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

** Shares of India's Raymond RYMD.NS jumps 5.6% to record high of 2,610 rupees

** Co's realty arm selected as "preferred developer" for redevelopment of Mumbai project

** Project estimated to have revenue potential of over 20 bln rupees ($239.5 mln) over project period

** Analysts avg rating on RYMD is equivalent of "strong buy" and median TP is 2,635 rupees -LSEG data

** Stock extends YTD gains to nearly 50% YTD, after a ~17% rise in 2023

($1 = 83.4980 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

BENGALURU, May 3 (Reuters) - Indian conglomerate Raymond RYMD.NS reported an 18% rise in fourth-quarter profit on Friday, buoyed by strong demand for its real-estate segment.

The company, which sells clothes to luxury homes, said its consolidated profit rose to 2.29 billion rupees ($27.5 million)in the three months to March 31, compared with 1.94 billion rupees a year ago.

Its revenue from operations rose 21% in the quarter.

Its real estate segment saw strong booking momentum during the quarter, particularly post the launch of its first joint development project in Bandra, Mumbai.

The segment accounts for 25% of the revenue mix and its revenue more than doubled during the quarter.

However, demand for consumer goods in Indian cities has largely weathered a broader slowdown, while rural inflation-hit consumers are cutting back on expenses.

Analysts expect an uptick in demand in coming quarters.

Its textile segment, biggest in terms of revenue contribution, saw a moderated 2% growth in revenue amid muted customer demand and challenging market conditions.

The conglomerate's earnings before interest, taxes, depreciation and amortization (EBITDA) margin expanded to 19.2% from 17.3% an year ago.

During the quarter, Raymond completed the acquisition of Maini Precision Product MAIP.NS to foray into aerospace, defense and electrical vehicle components business.

Post consolidation, Raymond aims to set up two units, one of which will focus on aerospace and defense, while the other will cater to the auto components with EV and engineering consumables sector.

The company also re-appointed Gautam Hari Singhania as managing director for a term of five years effective from July 1, 2024.

($1 = 83.3860 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Rashmi Aich)

(([email protected];))

** Shares of India's Raymond RYMD.NS up as much as 7.8% at 1,909.90 rupees - sharpest intraday gain since Sept. 5

** Co's realty arm launched its first housing project in Mumbai, with revenue generation estimated at over 20 billion rupees ($241 million)

** More than 1.9 mln shares changed hands by 1:49 p.m. IST, 8x the 30-day avg

** Stock sees busiest day since Dec. 1

** RYMD currently trading at 1,894 rupees, 24% lower than the median TP set by six analysts covering the stock; average recommendation is equivalent to "strong buy" -LSEG data

** Stock up ~11% YTD after a 17% rise in 2023

($1 = 82.8750 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Feb 1 (Reuters) - Raymond Ltd RYMD.NS:

• RAYMOND LTD - APPROVED TO WIND UP UNIT RAYMOND LIFESTYLE (BANGLADESH) PRIVATE LIMITED

Source text for Eikon: ID:nBSEbB0g07

Further company coverage: RYMD.NS

(([email protected];))

Dec 1 (Reuters) - Raymond Ltd RYMD.NS:

• RAYMOND LTD- INDEPENDENT DIRECTORS HAVE BEEN MEETING AND MONITORING SITUATION

• RAYMOND LTD- INDEPENDENT DIRECTORS REITERATE THEIR COMMITMENT TO PROTECT INTERESTS OF NON-PROMOTER MINORITY SHAREHOLDERS

• RAYMOND LTD - ID ARE ALERT TO ENSURE THAT MATRIMONIAL DISPUTES BETWEEN TWO PROMOTER DIRECTORS DO NOT AFFECT CAPACITY OF CHAIRMAN & MD

• RAYMOND LTD- NEITHER ANY LAW NOR ANY CORPORATE GOVERNANCE STANDARD REQUIRES INDEPENDENT DIRECTORS TO ENQUIRE INTO MATRIMONIAL DISPUTES

• RAYMOND LTD- ID SHALL CONTINUE TO EXERCISE UTMOST VIGILANCE IN WATCHING EVOLVING SITUATION

• RAYMOND LTD - ID SHALL NOT HESITATE TO PROACTIVELY INITIATE MEASURES TO PROTECT INTERESTS OF ALL STAKEHOLDERS

• RAYMOND LTD - MATRIMONIAL DISPUTES DO NOT AFFECT CAPACITY OF CHAIRMAN & MD TO MANAGE AFFAIRS AND BUSINESS OF CO

• RAYMOND LTD- INDEPENDENT DIRECTORS HAVE DECIDED TO RETAIN BERJIS DESAI FOR ADVISING

Source text for Eikon: ID:nBSErpqrf

Further company coverage: RYMD.NS

(([email protected];))

Nov 28 (Reuters) - Institutional Investor Advisory Services (IIAS), an Indian proxy advisory firm, on Tuesday urged the independent directors of textile company Raymond Ltd RYMD.NS to launch an investigation into the allegations of assault against its managing director.

According to local media reports, Nawaz Modi Singhania - the wife of Managing Director Gautam Singhania and a board member - alleged that she and her daughter were physically assaulted by Singhania in September 2023.

CNBC TV 18 reported that Singhania has written to the company's board of the company assuring smooth functioning of business amid the ongoing separation with his wife.

Reuters has not independently seen the letter. An email sent by Reuters to a company spokesperson was not answered immediately.

Raymond's shares fell on Tuesday for a tenth straight session and have lost over 16% during the period. The share slump started on Nov. 13, when Singhania announced separation from his wife on social media platform X, formerly known as Twitter.

IIAS said in an open letter that the independent directors need to communicate with investors and other stakeholders, assuage their concerns and "articulate a course of action they have taken following these public allegations".

"In the interest of the company and safeguard the interests of a larger set of stakeholders, we urge you to undertake an independent investigation into the allegations of both, assault and CEO excesses," IIAS said.

(Reporting by Jayshree P Upadhyay; Editing by Saumyadeb Chakrabarty)

(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))

** Raymond shares RYMD.NS shed 3.76%, falling for the seventh session in a row, with total losses of 12%

** On Nov. 13, the textiles company's chairman and MD Gautam Singhania announced separation from his wife Nawaz Singhania, who is also a Raymond board member

** Nawaz Singhania sought 75% of Gautam Singhania's $1.4 bln fortune as part of the settlement, the ET reported on Monday

** Despite the recent slide, the stock up 14% in 2023 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** ICICI Securities beings coverage of Raymond RYMD.NS with "hold" rating and PT at 1,860 rupees - a 4.4% premium to its last close

** Shares of the textiles maker down 1.2% at 1,761 rupees as of 3:19 p.m. IST

** ICICI says it models co's revenue/EBITDA/PAT CAGR at 11%/12%/20% respectively over FY23-FY25

** Expect ~7% revenue CAGR for RYMD's flagship business - branded textile - which accounted for 40.4% of co's FY23 consolidated revenue - ICICI

** Adds revenue in branded apparels segment likely to grow at 17% CAGR driven by retail expansion and higher thrust on casualization

** Revenue from garmenting segment to grow at 10% CAGR led by adoption of "China +1 strategy" by global brands - ICICI

** Engineering division's revenue is expected to grow at 12% CAGR as co plans to expand capacity - ICICI

** Stock up ~20% YTD

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Nov 9 (Reuters) - Raymond Ltd RYMD.NS:

• UNIT TEN X REALTY SELECTED AS 'PREFERRED DEVELOPER' FOR REDEVELOPMENT OF SHREE-HIND CHS LTD

• PROJECT HAS REVENUE POTENTIAL IN EXCESS OF 14 BILLION RUPEES

Source text for Eikon: ID:nBSE8sP1KF

Further company coverage: RYMD.NS

(([email protected];))

BENGALURU, Nov 8 (Reuters) - Indian textiles maker Raymond RYMD.NS on Wednesday reported a flat second-quarter profit as a delayed festive season and high inflation hurt demand, while higher costs weighed.

Raymond's consolidated net profit came in at 1.60 billion Indian rupees ($19.22 million) for the quarter ended Sept. 30, compared with 1.59 billion rupees last year.

Raymond flagged postponement in consumer spending cycle on account of delay in the festive and wedding seasons. Fashion retailers have seen a shift in demand due to a late start to the festive season this year.

Revenue from operations rose about 4%, as buyers also curbed discretionary spends in the face of sticky inflation. Meanwhile, the company's total expenses climbed over 7%.

India's retail inflation eased from last year, but remained above the Reserve Bank of India's 2%-6% tolerance band with the only respite in September, when the gauge dropped to 5.02%.

However, continued office wear demand and high demand in U.S. and Europe drove growth at its branded apparel and garmenting segments respectively, the company said.

After selling its consumer business to Godrej Consumer Properties in April, Raymond currently operates in apparel, real estate and engineering.

Last week, Raymond announced it was buying a majority stake in an auto parts maker, adding heft to its engineering unit and foraying into aerospace, defence and electric vehicles businesses.

While the deal is expected to complete in the current fiscal year, sluggish export market condition in engineering business impacted the topline, Raymond added.

($1 = 83.2455 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sherry Jacob-Phillips and Varun H K)

(([email protected]; X: @MukherjeeHritam;))

BENGALURU, Nov 3 (Reuters) - Indian textiles maker Raymond RYMD.NS on Friday announced a 6.82 billion rupees ($81.91 million) deal to buy majority stake in automotive firm Maini Precision Products to venture into aerospace, defense and electric vehicle components business.

Raymond will buy a 59.25% stake in Maini Precision Products and will fund the deal through a mix of debt and internal accruals, it said in a statement.

($1 = 83.2600 Indian rupees)

(Reporting by Indranil Sarkar in Bengaluru)

(([email protected]; Mobile: +91 7022132226;))