Raymond Lifestyle Ltd(RAYMONDLSL)

NSE: RAYMONDLSLBSE: 544240

₹ 507-4.58%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 3,089 crNext results: 28 Oct 2026Website: www.raymondlifestyle.comUpdated: 24 Oct 2026

About

Raymond Lifestyle Ltd is an Indian textile and apparel company operating across four segments - Branded Textile, Branded Apparel, Garmenting (B2B export), and High Value Cotton Shirting - with FY26 revenue of ₹6,888 Cr. The company sells suiting, shirting, and casualwear under the Raymond, Park Avenue, ColorPlus, and Parx brands through 1,627 stores across 600 cities, and exports garments to the US, EU, and UK from manufacturing facilities in India and Ethiopia.^[1][2][3]

Business segments

Branded Textile: 47.4% of FY26 revenue (₹3,434.95 Cr), the largest segment; sells suiting and fabric through retail and wholesale channels.^[2]
Branded Apparel: 25.0% of FY26 revenue (₹1,811.58 Cr); sells ready-to-wear under Raymond, Park Avenue, ColorPlus, and Parx brands through EBOs and LFS.^[2]
Garmenting: 14.7% of FY26 revenue (₹1,065.58 Cr); B2B export of made-up garments primarily to the US, UK, and Europe.^[2]
High Value Cotton Shirting: 11.3% of FY26 revenue (₹817.53 Cr); manufactures and sells premium shirting fabric.^[2]
From Q1 FY27, a fifth standalone segment - Emerging Business - was carved out, comprising Ethnix by Raymond, Raymond Home, innerwear, sexual wellness, and Chairman's Collection.^[3]

Brands and products

Core four apparel brands are Raymond Ready-to-Wear (formal), Park Avenue (formal/casual), ColorPlus (casual), and Parx (casual); ColorPlus and Parx grew double-digit in Q1 FY27.^[3]
Casualwear share within Park Avenue and Raymond Ready-to-Wear reached ~18% in Q1 FY27, up ~200 bps year-on-year.^[3]
Casualisation penetration across the apparel mix rose from sub-5% pre-COVID to 15 - 17% as of Q3 FY26.^[4]
Emerging Business brands include Ethnix by Raymond (ethnic wear), Raymond Home (home textiles), Park Avenue Innerwear, and Chairman's Collection (recently launched).^[3]

Operations and capacity

Garmenting operates five factories; all were booked through December 2026 as of Q1 FY27, with January-onwards bookings already being taken.^[3]
Manufacturing capacity utilisation ran above 90% in Q1 FY27, up from a historical range of 80 - 85%.^[3][5]
The Indupur garmenting facility had 10 additional lines added; management estimates at least 50% more revenue is achievable from the current India and Ethiopia footprint once order book fills.^[4]
Renewable energy share in manufacturing reached ~12% in FY27, up from 8 - 9% in the prior year; target is 25% by 2030.^[3]

Key operating numbers

Garmenting revenue: ₹296 Cr in Q1 FY27 vs ₹197 Cr in Q1 FY26 (+50% YoY), with EBITDA margin recovering to 7.3% from -4.1% (an 1,100 bps swing).^[3]
Branded Textiles revenue: ₹684 Cr in Q1 FY27 vs ₹699 Cr in Q1 FY26 (-2%), with EBITDA margin of 13.9% vs 15.3%; decline attributed to a prior-year IT-related invoicing pull-forward.^[3]
Branded Apparel revenue grew 4% YoY to ₹349 Cr in Q1 FY27 despite a 9% reduction in EBO count; LFS grew >25% and e-commerce grew high double-digit in Q1 FY27.^[3]
EBO like-for-like growth was +3% in Q1 FY27; loyalty programme membership stood at 12.4 million in Q1 FY27.^[3]
High Value Cotton Shirting EBITDA margin improved to 11.8% in Q2 FY26 from 9.7% in Q2 FY25, driven by improved product mix.^[6]
Net working capital days improved to 75 days in Q1 FY27 from 90 days in Q1 FY26, a 15-day improvement.^[3]

Distribution and customers

Active retail network stood at 1,627 stores across 600 cities as of Q1 FY27, down from 1,675 in June 2025 after 133 exits and 85 openings since June 2025.^[3]
Garmenting geographic mix in Q1 FY27: US ~59 - 60%, UK ~12% (up from 10%), Europe ~7 - 8% (up from 6%); management targets US concentration at ≤55%.^[3]
New EU/UK garmenting clients onboarded in Q1 FY27 include Next (UK), El Corte Inglés (Spain), OVS (Italy), Carl Gross (Germany), and T.M. Lewin (UK).^[3]
UK garmenting exports were running at ~₹150 Cr annualised as of Q2 FY26; management believes this can double in two to two-and-a-half years post India-UK FTA enactment.^[6]
MBO channel recovered shelf space from imported fabrics in Q2 FY26, with MBO space growing ~15%.^[6]

Expansion and capex

FY27 capex is expected at a similar level to FY26 (~₹180 Cr), per guidance given at the Q4 FY26 earnings call.^[5]
Net EBO openings are planned to be negative for all of FY27 as store rationalisation continues; FOFO-led expansion is expected to resume after 2 - 3 more quarters.^[3]
High-end Ethnix products priced above ₹50,000 are transitioning to a Made-to-Measure model using garmenting factories; basic Ethnix products are being added to TRS stores and e-commerce this quarter (Q2 FY27).^[3]
A 3 - 5 year strategic plan targeting at least doubling total company revenue is being built with consulting firm Kearney; implementation expected to begin by Q3 FY27 (~November 2026).^[3][5]

Recent developments

In Q1 FY27, Raymond Lifestyle officially instituted a five-segment reporting structure, separating Emerging Business from the core four segments, as committed on the prior quarterly call.^[3]
Net cash position swung from a net debt of ₹55 Cr in June 2025 to a net cash surplus of ₹154 Cr in June 2026, a ₹209 Cr improvement in one year.^[3]
FY26 was the first year Raymond Lifestyle crossed ₹7,000 Cr in total income, recording ₹7,034 Cr (+11% YoY), per the Q4 FY26 earnings call.^[5]
New leadership installed: CEO Satyaki Ghosh (ex-L'Oreal/PepsiCo/ABG) joined February 2026; CFO E.C. Prasad joined ~3 months prior; CMO Kalpana Singh (ex-HUL) joined March 2026.^[5]
Price hikes of 5 - 7% in apparel and 7 - 9% in fabric are planned from Q2 FY27 to pass through raw material inflation.^[3]

Market Cap

₹3,089 Cr

High / Low

₹1,267 / 507

Stock P/E

71.2

Price / Book

0.3

Book Value

₹1,582

EPS

₹7.6

No. of Shares

6.09 Cr

ROCE

3.7%

ROE

0.5%

OPM

6.2%

Debt / Equity

0.12

Sales

₹6,888 Cr

Net Profit

₹46 Cr

Promoter holding

59.6%

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Raymond Lifestyle Ltd(RAYMONDLSL)

About

Business segments

Brands and products

Operations and capacity

Key operating numbers

Distribution and customers

Expansion and capex

Recent developments

Signal history

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