Raymond Lifestyles Ltd, a major player in India’s textile and apparel industry, reported consolidated revenue of INR 12.49 billion (approximately $147.77 million) for the first quarter of fiscal year 2025 (Q1FY2025), down 8% from INR 13.54 billion in Q1FY2024. The decline in revenue was attributed to weak consumer demand, prolonged heatwave, general elections, fewer weddings and inflation, which collectively impacted revenue performance and profit margins.
Raymond Lifestyle reported revenues down 8% YoY to Rs 12,490 crore in Q1FY25 due to weak demand, heatwaves, elections and inflation. EBITDA fell 52% to Rs 870 crore, with margins declining to 7% from 14%. The company’s branded textile revenues fell 18% in Q1FY25, while apparel was flat.
According to a press release from Raymond Lifestyles, the company’s total EBITDA fell 52% to Rs 870 crore in Q1FY25 from Rs 1,790 crore in Q1FY24, while EBITDA margins fell to 7% from 14% in the previous fiscal year.
In the branded textiles (B2C) segment, revenues fell 18% to Rs 5.65 billion from Rs 6.88 billion a year ago. EBITDA for the segment was Rs 5.6 billion, down 53% from Rs 1.18 billion in Q1FY24, with EBITDA margins falling to 10% from 17%. Revenues for the branded apparel (B2C) segment remained almost flat at Rs 3.03 billion from Rs 3.04 billion in Q1FY24. However, EBITDA fell 25% to Rs 1.5 billion from Rs 20 million, with EBITDA margins falling to 4.8% from 6.4%.
Apparel (B2B) revenues increased 5 percent to Rs 2.52 billion from Rs 2.39 billion. However, apparel EBITDA fell 62 percent to Rs 90 million from Rs 240 million a year ago, with EBITDA margins slipping to 3.5 percent from 9.8 percent. High-value cotton shirts (B2B) revenues fell 3 percent to Rs 1.86 billion from Rs 1.92 billion. EBITDA fell 47 percent to Rs 100 million from Rs 190 million, with EBITDA margins slipping to 5.6 percent from 10.1 percent.
Other division reported a revenue loss of Rs 570 million, slightly improved from a loss of Rs 690 million a year ago. EBITDA margin improved to 4% from 2.6%.
“We are pleased with our performance in Q1FY25, which underlines the strength and resilience of our business strategy. During the quarter, we successfully demerged our lifestyle business into a separate company, which we plan to list in Q2FY25,” said Gautam Hari Singhania, Chairman and Managing Director.
Fibre2Fashion News Desk (DP)
