Page 5 - Raymond

Raymond Q4 results: Profit jumps 18% to Rs 229 cr on strong realty demand

The company, which sells clothes to luxury homes, said its consolidated profit rose to 2.29 billion rupees ($27.5 million)in the three months to March 31, compared with 1.94 billion rupees a year ago

Tailored for you: Why it makes better style sense than readymade clothing

The neigbourhood tailor or a designer's team will dress you the way you like and what suits your shape

Nawaz Modi Singhania removed from boards of 3 Raymond Group firms

Their shareholders wrote to the companies that they lost confidence in Singhania as a Director and requested to convene a shareholder meeting to remove her from the boards, the statements said

Vijaypat Singhania rules out reconciliation with estranged son Gautam

Raymond patriarch Vijaypat Singhania on Tuesday ruled out reconciliation with his estranged son Gautam Singhania, whose social media post of a photo of them sparked speculations of resolving their differences. In a video message, Vijaypat Singhania said he had reluctantly gone to meet his son Gautam who insisted he meet over a cup of coffee without realising it was for an ulterior motive for taking my photograph, with GHS (Gautam Hari Singhania) to send a wrong message to the media. On March 20, billionaire Gautam Singhnia posted a photo on the microblogging platform X' through his account @SinghaniaGautam with his father Vijaypath. It was with a caption: Happy to have my father at home today and seek his blessings. Wishing you good health Papa always. A reply from the Raymond group is still awaited over this. In the video message, the senior Singhania said, Since the media is asking, I am clarifying my position. I try to clarify my position. On Wednesday on March 20, while I was

Raymond Realty launches Bandra project with Rs 2,000 cr revenue potential

Raymond Realty, the real estate arm of Raymond Group, on Tuesday said it will develop a premium housing project at Bandra in Mumbai with an estimated revenue of around Rs 2,000 crore. In a regulatory filing, Raymond Ltd informed that the company has launched its first project outside Thane through a joint development agreement (JDA) with a land owning entity. The project named 'The Address by GS, Bandra' is spread over an area of 2.74 acres. "This project also promises substantial economic returns, with projections indicating a revenue generation over Rs 2,000 crore," Raymond said. Raymond is into textiles, apparel, denim, consumer care, engineering and real estate businesses.

Raymond Q3 results: PAT jumps to Rs 185 cr on branded apparel, realty boost

It had logged a net profit of Rs 96.60 crore in October-December FY23, according to a regulatory filing by the company

Gautam Singhania's JK Investors pays Rs 328 cr penalty in customs case

The DRI accused Raymond Group CMD Gautam Singhania of evading custom duties on the import of 142 vehicles, including 138 vintage cars

Gains and many losses: 2023's blend of revival and heartfelt goodbyes

A hot streak for entertainment that beat the Covid blues, and views and verdicts that caused ripples made news in a year when several stalwarts bid adieu

Raymond independent directors hire lawyer to protect minority shareholders

Company's interests 'paramount consideration', they say as fight between chairman Gautam Singhania and his estranged wife pulls down market value

Raymond reiterates commitment to protect interests of minority shareholders

Shares of Raymond have declined over 14 per cent in a month. In the past 12 trading sessions, the stock has declined 20 per cent

IiAS asks Raymond to appoint interim CEO, probe charges against Singhania

Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked independent directors of Raymond Ltd to consider appointing an interim CEO and investigate the allegations of assault by its Chairman and MD Gautam Singhania on his wife and daughter, and the use of company funds for personal benefit. In an open letter to the company's five independent directors, IiAS also suggested they ask Singhania and his estranged wife Nawaz Modi, also a board member, to take time off from their responsibilities as board members. The five independent directors to whom the letter was addressed are Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy, and Shiv Surinder Kumar. Citing media reports, IiAS said Modi has alleged that she and her daughter were physically assaulted by Singhania in September 2023. She also alleged that company funds were being used for Singhania's personal benefit (CEO excesses) -- and that she was acting as a whistle-blower of sorts. "Despite such .

Proxy advisory firm urges Raymond's directors to probe assault allegations

CNBC TV 18 reported that Singhania has written to the company's board of the company assuring smooth functioning of business amid the ongoing separation with his wife

Business as usual in Raymond: CMD Gautam Singhania amid family feud

Amid issues in his personal life, Raymond Chairman and Managing Director Gautam Singhania has assured employees and board members that it is "business as usual" in the company and that he is fully committed to its smooth functioning. In an internal mail to the employees and the board members of Raymond, Singhania, who announced separation from his wife Nawaz earlier this month, said he has chosen not to comment on the reports in media "about matters pertaining to my personal life", saying "maintaining the dignity of my family is paramount to me". "However, I remain resolute as Chairman & Managing Director and am fully committed towards the smooth functioning of the company and its business. Even in these difficult times for me, I assure you that at Raymond, it is business as usual," he asserted in his mail. "As you all are aware that over the last couple of months, we have made significant strides towards growing our businesses exponentially and have had our best quarter in ...

Raymond loses Rs 1,500 cr market value after family feud breaks out

Nawaz Modi alleges corp governance lapses in the company

Billionaire Gautam Singhania's separation erases $180 mn at Raymonds

The stock has tumbled 12 per cent since Nov. 13 when Singhania announced separation from Nawaz Singhania, his wife of 32 years and a Raymond board member

Gautam Singhania's estranged wife, all details about Nawaz Modi Singhania

Gautam Singhania, the Chairman and Managing Director of the Raymond Group, has declared separation from his wife Nawaz Modi post 32 years of living together

Raymond's head Gautam Singhania announces separation from his wife Nawaz

Billionaire industrialist Gautam Singhania on Monday said he has separated from his wife Nawaz, in an announcement that comes amid speculation over the future of the 32-year relationship. Singhania, the chairman and managing director of Raymond, who's net worth is reported to be over Rs 11,000 crore, made the announcement over the microblogging platform X, saying it is not the same Diwali as in the past. The industrialist, who is helming the multi-decade group having roots in textiles and branched out into newer ones like real estate, said Nawaz, a fitness trainer, and he were together for 32 years as a couple. The couple has two children and Singhania said they grew together in their years of companionship and were a source of strength for each other. "We traversed with commitment, resolve, faith as along came the two most beautiful additions of our lives," he wrote. The announcement came minutes after a video surfaced online which purportedly shows Nawaz allegedly not being allo

Raymond Q2 results: Net profit at Rs 161 cr, revenue up 4% to Rs 2,253 cr

Diversified group Raymond Ltd on Tuesday said its net profit was almost flat at Rs 161.16 crore in the second quarter ended September 2023. It had reported a net profit of Rs 161.95 crore in the July-September quarter a year ago, according to a regulatory filing from the leading textile and apparel maker. Its revenue from operations rose 3.92 per cent to Rs 2,253.40 crore during the quarter under review as against Rs 2,168.24 crore in the year-ago period. Total expenses of the Singhania family-controlled firm in the September quarter were at Rs 2,093.41 crore, up 7.12 per cent. "Raymond continues to attest its growth momentum with strong quarter-on-quarter performance and Q2FY24 was the 9th consecutive quarter that reported highest ever performance both in terms of revenue and EBITDA," the company said in an earnings statement. Raymond's total income in the September quarter was at Rs 2,320.66 crore, up 5.92 per cent. "The revenue grew by 6 per cent in the quarter to Rs 2,321 cr

Raymond Group to acquire 59% stake in Maini Precision for Rs 682 crore

The acquisition will be concluded through Ring Plus Aqua, a subsidiary of JK Files and Engineering

Raymond Group to acquire 59.25% stake in Maini Precision for Rs 682 cr

With this acquisition, Raymond's engineering business will emerge as a large‐scale provider of engineering, automotive, electric vehicle (EV), aerospace and defence components