AI-generated · cited to primary sources · not investment advice
Raymond Lifestyl (544240) Nov 2025 Filing Analysis
Does management do what it says?
The company reported a record Q1 revenue with 18% YoY growth in total income, surpassing the guided annual growth range of 10-15% in the first quarter. (2 exceeded, 2 met, 1 missed across 5 tracked commitments)
“So I would expect another two, three quarters it would take. This year and the next year are a strong build phase for our branded apparel segment and then we see a good margin as we have told early double digit margins, we should be able to see.”
For the nine months ended Dec'25, the company has achieved 9% revenue growth, which is slightly below the lower end of the 10-15% annual guidance. (1 in progress across 1 tracked commitment)
“So, we are doing close to INR150-odd crores of sales to UK. I think it has a very good potential to double itself in the next two to two and a half years.”
Management has significantly slowed store expansion for Ethnix, closing more stores than it opened in Q2 (3 opened, 4 closed) to rationalize underperforming locations in Tier 3/4 cities. (1 revised across 1 tracked commitment)
“Now, store count is at 139... we have rejigged on the store expansion strategy for ethnic. Very clearly, we are seeing that some of the stores which we had to rationalize were not yielding the results... now we are rationalizing because at the end of the day these stores were not giving the profitability.”
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