RESULTS PRESENTATION

QUARTER ENDED DECEMBER 31, 2015

DISCLAIMER

The particulars of this presentation contain statements related but not limited to revenues, financial results
and supplemental financial information which has been compiled by the management, not to be construed as
being provided under any legal or regulatory requirement and are not intended to invite any investment in
the Company. The information contained in this presentation has not been subjected to review by any
auditors or by the Board of Directors of the Company. Commentary in the presentation describes the
reporting quarter performance versus the same quarter of the corresponding previous year, unless specified
otherwise. The figures for the previous periods in this presentation have been regrouped/ reclassified,
wherever necessary. Company assumes no responsibility and does not provide any warranty to the accuracy
or comprehensiveness of the information contained in this presentation.

This presentation is not intended to be a prospectus (as defined under the Companies Act, 2013 and the
relevant provisions of rule, the Companies (Prospectus and Allotment of Securities) Rules, 2014). This is for
information purposes only and does not constitute or form part of, and should not be considered as any offer
for sale or subscription of or solicitation or invitation of any offer to buy or subscription for securities in any
jurisdiction. No part of this presentation and the information contained herein should form the basis of, or be
relied upon, in connection with any investment decision or any contract or commitment to purchase or
subscribe for any securities.

Statements in this presentation describing the Companys objectives, projections, estimates, expectations or
predictions may constitute forward looking statements. Such statements are based on the current
expectations and certain assumptions of the Company's management, and are, therefore, subject to risks and
uncertainties. Actual results may differ materially from those expressed or implied. The Company neither
intends, nor assumes any obligation to amend, modify, revise or update these forward looking statements, on
the basis of any subsequent developments which differ from those anticipated.
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CONTENTS

HIGHLIGHTS
BUSINESS WISE DETAILS
WAY FORWARD

ANNEXURE PUBLISHED RESULTS

CONTENTS

HIGHLIGHTS

BUSINESS WISE DETAILS

WAY FORWARD

ANNEXURE- PUBLISHED RESULTS

CONSOLIDATED HIGHLIGHTS

Long Term credit rating upgraded to AA from AA- by CARE

5

CONSOLIDATED RESULTS
Q3 FY16

Q3 FY15

Net Revenue

1,508

1,396

8%

Net Sales

1,483

1,382

148

156

9.8%

11.2%

107

115

EBIT margin

7.1%

Exceptional cost
Net Profit

INR Crore

EBITDA
EBITDA margin
EBIT

Profit margin

Change 9m FY16

9m FY15

Change

4,160

3,988

4%

7%

4,083

3,932

4%

-5%

369

402

-8%

8.9%

10.1%

248

282

8.2%

6.0%

7.1%

(3)

(35)

(4)

40

56

36

91

2.7%

4.0%

0.9%

2.3%

-7%

-28%

-12%

-61%

Provision of Rs 19 cr during the quarter towards enhancement in minimum bonus limit effective 1 st April 2014
Exceptional cost of Rs 3 cr during the quarter towards forging business disposed off during the quarter
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NET SALES BRIDGE (Rs. Cr)

1,382
51

EBITDA BRIDGE (Rs. Cr)

156

Q3FY15

10

Branded Textiles

63

Branded Apparel

-13
-6

Garmenting
-13

Denim
Luxury Cotton Shirting

-1

-12

Tools & Hardware

-1

- 23

Auto Components

-2

Others & Elimination

Q3FY16

148

22

4
1,483

NET SALES BRIDGE (Rs. Cr)

3,932
72

EBITDA BRIDGE (Rs. Cr)

402

9MFY15

22

Branded Textiles

141

Branded Apparel

Garmenting
- 42

-24
-15

Denim
Luxury Cotton Shirting

-4

-27

Tools & Hardware

-6

- 44

Auto Components

- 10

Others & Elimination

54

4,083

9MFY16

- 12
1

369

CONTENTS

HIGHLIGHTS
BUSINESS WISE DETAILS
WAY FORWARD
ANNEXURE- PUBLISHED RESULTS

BRANDED TEXTILES

10

10

BRANDED TEXTILES

INR Crore

Q3 FY16

Q3 FY15

Change

9M FY16

9M FY15

Change

Net Sales

733

681

8%

1,939

1,867

4%

EBITDA

139

129

8%

341

319

7%

18.9%

18.9%

17.6%

17.1%

EBITDA margin

Suiting fabric sales up by 5% (1% volume growth)

Strong growth in Shirting fabric sales across B2C channel (61% volume growth)

EBITDA growth led by higher volumes and operational efficiencies despite higher
bonus provision of Rs 7 cr

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BRANDED APPAREL

12

BRANDED APPAREL

INR Crore
Net Sales

EBITDA
EBITDA margin

Q3 FY16

Q3 FY15

Change

9M FY16

9M FY15

Change

320

256

25%

864

723

19%

(4)

10

-136%

(14)

10

NA%

-1.1%

3.9%

-1.6%

1.4%

Increase in sales led by growth across all the brands

Brands
Growth% y-y

PA
33%

RPA
6%

CP
20%

Parx
16%

MTM
84%

Sales through secondary channels i.e. LFSs & EBOs grew 25% y-o-y on blended basis

Losses at EBITDA level due to investments in retail network expansion, especially MTM

Margins impacted due to channel mix and higher brand building cost
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RETAIL

14

EXCLUSIVE RETAIL NETWORK

30 additions

1.89mn sq ft
EBO

1017

1.92mn sq ft
1044

12

11
225

-3

214

48

3 closures

TRS

MTM

41

762
Sept, 15

771
TRS

MTM

EBO

TRS

Dec, 15

During the quarter, we have

added 30 new stores and closed 3 stores
completed 24 stores renovation and 20 stores are under renovation

Blended same store sales growth across formats was 5% y-o-y

Sales growth across the exclusive network was 10% y-o-y

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GARMENTING

16

GARMENTING

INR Crore
Net Sales

EBITDA
EBITDA margin

Q3 FY16

Q3 FY15

Change

9M FY16

9M FY15

Change

146

138

5%

419

413

2%

14

-46%

31

45

-33%

5.2%

10.0%

7.3%

11.0%

Sales growth driven by higher volumes

EBITDA impacted y-y on account of higher bonus provision of Rs 8 cr

Healthy order book position

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HIGH VALUE
COTTON SHIRTING

18

HIGH VALUE COTTON SHIRTING

INR Crore
Net Sales

EBITDA
EBITDA margin

Q3 FY16

Q3 FY15

Change

9M FY16

9M FY15

Change

119

97

22%

349

294

18%

10

-10%

32

36

-12%

7.2%

9.8%

9.1%

12.2%

The results shown above are for 100% operations and include minority interest

Increase in sales led by higher volumes

EBITDA lower y-o-y due to higher repairs and maintenance

Capacity expansion of 5mn mtrs on schedule; expected completion by Mar 2016

During December 2015 quarter, Raymond Limited invested Rs 62 cr to increase its

stake in Raymond Luxury Cotton Ltd from 61.68% to 75.69%

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DENIM

20

20

DENIM [Joint Venture]

INR Crore
Net Sales

EBITDA
EBITDA margin

Q3 FY16

Q3 FY15

Change

9M FY16

9M FY15

Change

230

243

-5%

681

723

-6%

25

24

3%

76

71

7%

10.7%

9.8%

11.1%

9.8%

The results shown above are of the Indian and Foreign operations of the Joint Venture. Raymonds share is 50% thereof.

Sales de grew by 5% (volumes flat)

Margins improved y-o-y due to lower input cost

Capacity expansion of 8mn mtrs on schedule; expected completion by Mar 2016

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ENGINEERING

22

22

22

TOOLS & HARDWARE

INR Crore
Net Sales
EBITDA

EBITDA margin

Q3 FY16

Q3 FY15

Change

9M FY16

9M FY15

92

104

-11%

286

313

-9%

-9%

15

20

-27%

6.5%

6.3%

5.1%

6.5%

The results shown above are for 100% operations and include minority interest

Change

Performance impacted due to slow down in industrial activities in key markets

especially Latin America and currency devaluation of African countries

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AUTO COMPONENTS

INR Crore
Net Sales
EBITDA

EBITDA margin

Q3 FY16

Q3 FY15

Change

9M FY16

9M FY15

Change

31

54

-43%

140

184

-24%

-91%

15

-78%

0.6%

4.1%

2.4%

8.3%

The results shown above are for 100% operations and include minority interest

Performance not comparable due to forging operations disposed off during the quarter

On like for like basis, sales down 18% y-y. Performance impacted due to slow down in infra
spends in overseas market and weakening Euro

Exceptional cost of Rs 3 cr towards forging operations

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CONTENTS

HIGHLIGHTS
BUSINESS WISE DETAILS
WAY FORWARD
ANNEXURE- PUBLISHED RESULTS

25

WAY FORWARD

Grow product categories by leveraging Raymond brand

Continue to invest in brand building
Expand and modernize retail network
Re-engineer operations to drive cost efficiencies
Concerns - Subdued consumer sentiment and slow down in Exports market

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CONTENTS

HIGHLIGHTS
BUSINESS WISE DETAILS
WAY FORWARD

ANNEXURE- PUBLISHED RESULTS

27

THANK YOU
1
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