AI-generated · cited to primary sources · not investment advice
Raymond Lifestyl (544240) Aug 2025 Filing Analysis
Does management do what it says?
Consolidated EBITDA margins improved to 14.4% in Q3FY26 from 12.3% in Q3FY25, driven by volume increases and better operating leverage. (1 met across 1 tracked commitment)
“And the garmenting business... once the order is pushed out, shipped out, then you get the operating leverage, which is also in the range of 7%-8%-9% margin.”
Management plans a total CAPEX of Rs. 175 to 200 crores for FY26, with a focus on garmenting expansion and IT upgrades. — target: Rs. 175 to 200 crores
“We intend to put anything between Rs. 175 to 200 crores of CAPEX, of which let's say 55%-60% is a maintenance CAPEX. I think Rs. 40-45 crores will go into the garmenting, which is the expansion of the line... balance is little bit on the IT side.”
See the full cited Management analysis of Raymond Lifestyl
How durable is the business?
The segment achieved record Q1 revenue and nearly doubled its EBITDA, driven by a high number of wedding dates and an improved product mix. (5 expanding)
“Revenue 716 Cr. (Q1 FY26) vs 565 Cr. (Q1 FY25) YoY 27%. EBITDA Almost doubled, with a margin expansion of ~480 bps Y-o-Y on account of improved product mix.”
See the full cited Business Model analysis of Raymond Lifestyl
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