Financials Raymond Limited Bombay S.E.

Equities

RAYMOND

INE301A01014

Textiles & Leather Goods

Market Closed - Bombay S.E. Other stock markets 03:30:54 28/06/2024 pm IST			5-day change	1st Jan Change
2,920 ^INR	-1.51%		+15.63%	+69.52%

26/06	Raymond Aims to Open 100 New Ethnix Brand Stores in FY25; Shares Up 5%	MT
17/06	Glass Lewis ESG Controversy Alert: Raymond	MT

Valuation

Fiscal Period: March	2020	2023	2024	2025	2026
Capitalization ¹	14,419	81,356	1,20,385	1,94,582	-
Enterprise Value (EV) ¹	14,419	57,865	1,20,385	1,88,856	1,94,582
P/E ratio	7.15 x	15.4 x	7.35 x	21 x	18.4 x
Yield	-	0.25%	0.17%	0.17%	0.15%
Capitalization / Revenue	0.22 x	0.99 x	1.33 x	1.88 x	1.65 x
EV / Revenue	0.22 x	0.7 x	1.33 x	1.82 x	1.65 x
EV / EBITDA	-	4.82 x	9.2 x	12.2 x	11 x
EV / FCF	-	8.41 x	37 x	19.3 x	15.6 x
FCF Yield	-	11.9%	2.7%	5.17%	6.4%
Price to Book	0.61 x	2.81 x	2.61 x	3.55 x	2.99 x
Nbr of stocks (in thousands)	64,719	66,574	66,574	66,574	-
Reference price ²	222.8	1,222	1,808	2,923	2,923
Announcement Date	29/06/20	09/05/23	03/05/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2020	2022	2023	2024	2025	2026
Net sales ¹	64,824	-	82,147	90,195	1,03,771	1,18,283
EBITDA ¹	-	-	11,994	13,091	15,484	17,765
EBIT ¹	-	-	9,641	10,254	12,197	13,854
Operating Margin	-	-	11.74%	11.37%	11.75%	11.71%
Earnings before Tax (EBT) ¹	1,589	-	7,219	8,925	11,818	14,149
Net income ¹	1,961	2,604	5,289	16,378	8,886	10,637
Net margin	3.03%	-	6.44%	18.16%	8.56%	8.99%
EPS ²	31.16	-	79.45	246.1	139.2	158.6
Free Cash Flow ¹	-	-	6,879	3,256	9,772	12,444
FCF margin	-	-	8.37%	3.61%	9.42%	10.52%
FCF Conversion (EBITDA)	-	-	57.35%	24.87%	63.11%	70.05%
FCF Conversion (Net income)	-	-	130.05%	19.88%	109.97%	116.99%
Dividend per Share ²	-	-	3.000	3.000	4.833	4.500
Announcement Date	29/06/20	16/05/22	09/05/23	03/05/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	-	21,682	21,502	17,715	22,534	23,862	26,085
EBITDA ¹	-	3,192	3,368	1,966	3,146	3,576	4,359
EBIT	-	-	-	-	-	-	-
Operating Margin	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	2,177	1,599	1,030	2,042	2,523	3,118
Net income ¹	1,588	948.4	1,944	10,653	1,598	1,836	2,292
Net margin	-	4.37%	9.04%	60.14%	7.09%	7.69%	8.79%
EPS ²	-	14.25	29.19	-	-	-	34.45
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	03/11/22	01/02/23	09/05/23	11/08/23	08/11/23	01/02/24	03/05/24

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2020	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-
Net Cash position ¹	-	-	23,491	-	5,726	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow ¹	-	-	6,879	3,256	9,772	12,445
ROE (net income / shareholders' equity)	9.06%	-	17.2%	43.6%	18.5%	18.9%
ROA (Net income/ Total Assets)	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-
Book Value Per Share ²	367.0	-	436.0	694.0	822.0	977.0
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	-	-	1,163	2,076	1,750	2,333
Capex / Sales	-	-	1.42%	2.3%	1.69%	1.97%
Announcement Date	29/06/20	16/05/22	09/05/23	03/05/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Raymond Limited

Trading Rating

Investor Rating

ESG Refinitiv

C+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2,923 INR

Average target price

2,454 INR

Spread / Average Target

-16.05%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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