Hot Pursuit     03-Aug-15
Raymond gains as net loss narrows in Q1
Raymond rose 1.16% to Rs 474.75 at 14:00 IST on BSE after the company reported consolidated net loss of Rs 14 crore in Q1 June 2015, lower than net loss of Rs 33 crore in Q1 June 2014.

The Q1 result was announced after market hours on Friday, 31 July 2015.

Meanwhile, the S&P BSE Sensex was up 87.59 points or 0.31% at 28,202.15.

On BSE, so far 59,000 shares were traded in the counter as against average daily volume of 41,482 shares in the past one quarter.

The stock hit a high of Rs 482 and a low of Rs 454.40 so far during the day. The stock had hit a 52-week high of Rs 579.50 on 9 December 2014. The stock had hit a 52-week low of Rs 390 on 13 August 2014.

The stock had underperformed the market over the past one month till 31 July 2015, advancing 0.76% compared with Sensex's 1.2% rise. The scrip had, however, outperformed the market in past one quarter, surging 5.31% as against Sensex's 4.08% rise.

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

Raymond's net revenue rose 2% to Rs 1145 crore in Q1 June 2015 over Q1 June 2014.

Raymond's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 14% to Rs 71 crore in Q1 June 2015 over Q1 June 2014. EBITDA margin improved to 6.2% in Q1 June 2015, from 5.6% in Q1 June 2014.

Commenting on the company's Q1 performance, Mr. Gautam Hari Singhania, Chairman & Managing Director of Raymond said that the current quarter witnessed a subdued consumer sentiment in the domestic market and sluggish demand in the exports market, particularly in the Garmenting and Automotive segments. Notwithstanding these challenges, the company has been able to register a marginal top line growth at the consolidated level and margin improvement at the EBITDA level. Raymond's continued thrust on investment in Brand building through higher Ad spends, Store Roll-outs, Store Renovation etc, will enable it to improve its performance going forward, Singhania said.

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

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