India · Delayed Price · Currency is INR Raymond Lifestyle Earnings Call Transcripts
Fiscal Year 2026
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Achieved record FY 2026 revenue and EBITDA with strong domestic demand and margin expansion, despite global volatility. FY 2027 will focus on consolidation, premiumization, and digital transformation, with continued store network optimization and robust cash position.
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Record Q3 revenue and double-digit EBITDA growth driven by premiumization, strong domestic demand, and disciplined expansion. U.S. tariff headwinds impacted exports, but diversification and cost control supported margins. Net debt remains near zero.
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Q2 FY26 saw record revenue and strong domestic growth, offsetting export headwinds from U.S. tariffs. Branded textile and apparel segments led performance, with margins pressured by higher marketing spend and new store ramp-up. Domestic demand remains robust, with positive outlook supported by policy reforms.
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Q1 FY26 delivered 18% revenue growth and 36% EBITDA growth, led by branded textiles and apparel. U.S. tariff uncertainty impacted garmenting, but the India-U.K. FTA offers strong export potential. Margins and profitability are expected to improve in the coming quarters.
Fiscal Year 2025
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Q4 FY25 saw a 9% revenue decline due to weak demand and a ransomware attack, but early FY26 bookings are up 12-13% year-over-year. Ethnic wear crossed INR 100 crore in revenue, and the company expects 10-15% growth in FY26 with margin recovery.
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Q3 FY25 saw modest revenue growth and margin compression due to weak demand, upfront investments, and adverse segment mix. Management expects gradual recovery, targeting a 15% EBITDA margin and strong growth in FY 2026, with positive booking trends for next year.
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Q2 FY25 saw sequential growth in income and EBITDA, but year-over-year declines due to muted demand and delayed wedding season. Expansion in retail footprint, new product launches, and capacity investments position the company for strong H2 growth, with debt expected to normalize by year-end.