Raymond jumps after announcing stellar Q4 results

Raymond surged 6% to Rs 422.50 at 12:57 IST on BSE after consolidated net profit rose 162% to Rs 56 crore on 7% growth in revenue to Rs 1541 crore in Q4 March 2016 over Q4 March 2015.

The result was announced after market hours yesterday, 26 April 2016.

Meanwhile, the S&P BSE Sensex was up 33.25 points or 0.13% at 26,040.55.

On BSE, so far 1.31 lakh shares were traded in the counter as against average daily volume of 15,013 shares in the past one quarter. The stock hit a high of Rs 437 and a low of Rs 416.90 so far during the day. The stock had hit a 52-week high of Rs 518.90 on 8 July 2015. The stock had hit a 52-week low of Rs 351.50 on 12 February 2016. The stock had underperformed the market over the past one month till 26 April 2016, gaining 1.42% compared with Sensex's 2.64% rise. The scrip had also underperformed the market in past one quarter, advancing 0.1% as against Sensex's 6.21% rise.

The small-cap stock has equity capital of Rs 61.38 crore. Face value per share is Rs 10.

Raymond's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 46% to Rs 176 crore in Q4 March 2016 over Q4 March 2015. EBITDA margin surged to 11% in Q4 March 2016, from 8% in Q4 March 2015.

Raymond's Chairman & Managing Director Gautam Hari Singhania said that the management is taking corrective steps to improve the performance of the company's engineering businesses and is seeing early signs of improvements.

Raymond offers end-to-end solutions for fabrics and garmenting.

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