Raymond Limited has marked a milestone year, achieving its highest-ever annual revenue of ₹9,286 crore and an EBITDA of ₹1,575 crore, reflecting an impressive 17% EBITDA margin. The company has now announced a significant investment of ₹200 crore to expand its apparel and garment manufacturing capacity.
This strategic expansion aims to increase Raymond’s garmenting capacity by about one-third, aligning with the global “China Plus One” strategy adopted by many international brands. Additionally, this capacity augmentation supports the Government of India’s “Make in India” initiative. With this investment and enhanced capacity, Raymond aspires to become the world’s third-largest suit maker.
Gautam Hari Singhania, Chairman & Managing Director of Raymond Limited, expressed satisfaction with the company’s performance across its various business segments. “I am satisfied with the performance across businesses, and they have demonstrated consistent growth throughout the year. Our Lifestyle business showed strong perseverance and recorded growth despite headwinds and muted consumer demand. For our Real Estate business, we have maintained strong booking momentum, particularly with the launch of our first JDA project in Bandra, Mumbai. We remain committed to delivering value to stakeholders and are confident in our ability to capitalize on growth opportunities, ensuring sustained success in the future. We have our three verticals – Lifestyle, Real Estate & Engineering – that are future growth engines, which is in line with India’s vision of Viksit Bharat,” said Singhania.
During fiscal ’24, Raymond focused on expanding its distribution reach by opening over 200 new stores. The company also emphasized premiumization and casualization, leading to robust growth in its Branded Apparel segment, which achieved a 20% increase compared to the previous year despite a weaker retail industry. This new investment underscores Raymond’s commitment to innovation and growth, reinforcing its position as a leading player in the global apparel industry.