Raymond Lifestyle Ltd Management's Take

📊 Revenue reached Rs.1,883 crore in Q3 with 5% YoY growth; 9M revenue at Rs.5,223 crore (+9%).
💹 EBITDA margin improved to 14.4% in Q3 from 12.3% last year, EBITDA Rs.271 crore (+23%).
👚 Branded Textile segment recorded 11% revenue growth and 21.8% EBITDA margin.
🛍️ Branded Apparel revenue rose 5%, margin declined to 7.3% due to higher marketing and new stores.
🌍 Garmenting exports revenue fell 17%, margin down to 4.2% impacted by global challenges.
💼 Net debt maintained at Rs.15 crore with Rs.155 crore operational cash reserves.
🚀 Expansion focus on Tier 2/3 markets and 'Ethnix by Raymond' segment as long-term growth area.
♻️ Sustainability target includes 15% GHG emissions reduction and 25% renewable energy use by 2030.

Revenue rose 5% YoY to Rs.1,883 crore in Q3 FY26; 9M revenue increased 9% to Rs.5,223 crore.
EBITDA up 23% to Rs.271 crore in Q3, margin expanded to 14.4% from 12.3% last year.

Branded Textile: Revenue grew 11% to Rs.951 crore; EBITDA margin reached 21.8% due to better product mix and utilization.
Branded Apparel: 5% revenue growth to Rs.482 crore; EBITDA margin contracted to 7.3% because of higher advertising and new stores.
Garmenting Exports: Revenue down 17% to Rs.258 crore; margin dipped to 4.2% amid global challenges.

Near-zero net debt maintained at Rs.15 crore; operating cash reserves approx. Rs.155 crore.
Non-cash exceptional loss of Rs.57 crore related to new labor code affecting gratuity and leave valuations.

Strong domestic growth driven by festive and wedding season volume increases.
Retail stores expanded to 1,675, adding 21 new outlets while exiting 9 underperforming ones.
New product launches include Techno series (stretch, wrinkle-resistant fabrics) and premium brands Spectra, Royal Soft.
Working capital days increased to 94 due to changes in export operations and retail inventory buildup.

Aiming to grow presence in Tier 2 and 3 cities; Ethnix by Raymond segment targeted for long-term growth over four years.
Export strategy shifting from US to UK, Europe, and Asia-Pacific to navigate tariff uncertainties, leveraging Free Trade Agreements.
Expect working capital normalization and reduction by fiscal year-end.
Targets 15% reduction in greenhouse gas emissions and 25% renewable energy usage by 2030.

US tariff uncertainties impacting garment orders and margins.
Wool price increases of nearly 25% over four months challenge margin stability.
Temporary margin pressures in apparel due to brand investment and new store gestation costs.

Mr. Sathyaki Ghosh appointed CEO effective January 2026.
Strong governance with 100% independent board directors.
Workforce gender diversity at 40% women with steady single-digit attrition rates.