Raymond slides after net profit drops 62% YoY to Rs 60 cr

Raymond declined 2.51% to Rs 1,643.85 after the company's consolidated net profit tumbled 62.4% to Rs 60.03 crore despite of 122.2% increase in revenue from operations to Rs 1,044.74 crore in Q2 FY25 over Q2 FY24.

Profit before tax (PBT) declined 47.7% to Rs 88.98 crore during the quarter as compared with Rs 170.21 crore posted in corresponding quarter last year.

EBITDA stood at Rs 172 crore, registering the growth of 75% as compared with Rs 98 crore in same quarter last year. EBTDA margin reduced to 15.6% in Q2 FY25 from 19.2% in Q2 FY24.

Raymond Realty posted revenue of Rs 571 crore in Q2 FY25 from Rs 243 crore in Q2FY24 recording a solid growth of 135%. The segment reported an EBITDA of Rs 112 crore in Q2 FY25 from Rs 47 crore in Q2 FY24.

In Q2 FY25, the company achieved a strong booking value of Rs 562 crore, primarily driven by demand for 'TenX ERA', Sale of Retail shops in Thane and in JDA 'The Address by GS' in Bandra.

The realtors engineering business reported sales of Rs 443 crore in Q2 FY25, doubling revenue compared to Rs 201 crore in the same quarter of the previous year, including revenue from Maini Precision Products (MPPL) of Rs 225 crore, which was acquired in March 24. The segment delivered an EBITDA margin of 11.0% in Q2 FY25. The performance was driven by support from the domestic markets for Flex plates, Ring Gear & Shaft Bearings categories. However, the company's exports were sluggish on account of weak demand and geopolitical issues.

Raymond Group has been a pioneer and leader in fabric manufacturing, since 1925, and then forayed into other sectors such as engineering business and Real Estate. Raymond Realty has cemented its position amongst the home buyers in MMR region. Raymonds engineering business is well known with its leadership position in manufacturing files and hand tools and has a significant presence in national and international markets.

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