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Raymond Limited
(RAYMOND)
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Rating:50Neutral
Price Target:
₹1,302.00
▲(118.68% Upside)
Action:Reiterated
Date:09/22/26
The score is held down primarily by weak recent financial performance—sharp revenue decline, compressed operating profitability, and negative free cash flow—despite improved leverage. Technicals provide support due to strong uptrend momentum, but the overbought RSI suggests higher near-term reversal risk. Valuation is a meaningful headwind given the very high P/E.
Positive Factors
Diversified textile and apparel platform
Raymond operates across branded textiles, branded apparel, and garment manufacturing, while serving wholesale and direct-to-consumer channels. This breadth diversifies revenue sources, supports cross-selling and gives the company multiple ways to capture value across the apparel chain over the next several quarters.
Negative Factors
Sharp revenue contraction
The consecutive revenue declines show that recent growth has not been sustained and weaken visibility into the company’s near-term operating base. Continued top-line pressure would reduce scale benefits, constrain reinvestment and make recovery dependent on renewed demand across its textile and apparel businesses.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified textile and apparel platform
Raymond operates across branded textiles, branded apparel, and garment manufacturing, while serving wholesale and direct-to-consumer channels. This breadth diversifies revenue sources, supports cross-selling and gives the company multiple ways to capture value across the apparel chain over the next several quarters.
Read all positive factors
Raymond Limited (RAYMOND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹79.40B
Dividend Yield1.92%
Average Volume (3M)325.80K
Price to Earnings (P/E)184.2
Beta (1Y)1.50
Revenue Growth-25.55%
EPS Growth-99.34%
CountryIN
Employees42
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Textiles
Share Statistics
EPS (TTM)7.06
Shares Outstanding66,573,730
10 Day Avg. Volume260,421
30 Day Avg. Volume325,799
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.75
Price to Sales (P/S)0.97
P/FCF Ratio-20.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)15.7
Revenue Forecast (FY)₹25.47B
Raymond Limited Business Overview & Revenue Model
Company Description
Established in 1925, Raymond Limited is a diversified Indian conglomerate with global operations, primarily focused on textiles, lifestyle products, and branded apparel. Its extensive business activities are organized across various segments, incl...
How the Company Makes Money
Raymond primarily makes money by designing, manufacturing, branding, and selling textile and apparel products across multiple channels. A major revenue stream comes from branded textiles (notably suiting and shirting fabrics), where the company ea...
Raymond Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
63
Positive
Cash Flow
33
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.93B | 22.12B | 19.48B | 90.20B | 82.15B | 61.79B |
| Gross Profit | 7.02B | 3.72B | 7.61B | 37.41B | 34.04B | 23.94B |
| EBITDA | 2.49B | 2.35B | 1.95B | 25.22B | 12.15B | 7.27B |
| Net Income | 469.30M | 53.41B | 76.31B | 16.38B | 5.29B | 2.60B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 47.38B | 77.16B | 131.73B | 81.94B | 73.77B |
| Cash, Cash Equivalents and Short-Term Investments | 6.64B | 6.88B | 7.71B | 13.75B | 12.00B | 9.60B |
| Total Debt | 0.00 | 10.64B | 7.40B | 41.82B | 25.29B | 23.54B |
| Total Liabilities | -31.18B | 16.20B | 35.59B | 81.18B | 52.10B | 49.40B |
| Stockholders Equity | 31.18B | 28.44B | 37.16B | 46.17B | 28.99B | 23.59B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.06B | 752.80M | 3.26B | 6.88B | 6.17B |
| Operating Cash Flow | 0.00 | 80.00M | 2.33B | 5.33B | 8.04B | 6.77B |
| Investing Cash Flow | 0.00 | -2.29B | -2.32B | -10.38B | -4.76B | -4.25B |
| Financing Cash Flow | 0.00 | 3.13B | -1.04B | 4.99B | -3.19B | -3.23B |
Raymond Limited Technical Analysis
Positive
595.40
Price Trends
804.89
Positive
688.05
Positive
547.96
Positive
Market Momentum
140.90
Negative
81.72
Negative
87.33
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RAYMOND, the sentiment is Positive. The current price of 595.4 is below the 20-day moving average (MA) of 1066.82, below the 50-day MA of 804.89, and above the 200-day MA of 547.96, indicating a bullish trend. The MACD of 140.90 indicates Negative momentum. The RSI at 81.72 is Negative, neither overbought nor oversold. The STOCH value of 87.33 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:RAYMOND.
Raymond Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹145.49B | 33.55 | ― | 0.85% | 15.21% | 12.58% | |
62 Neutral | ₹408.23B | 55.29 | ― | 1.61% | 7.57% | -1.16% | |
61 Neutral | ₹153.40B | 17.76 | ― | 0.94% | 3.29% | -1.43% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹50.96B | 42.89 | ― | 0.42% | 13.94% | ― | |
50 Neutral | ₹79.40B | 184.24 | ― | 1.92% | -25.55% | -99.34% | |
42 Neutral | ₹54.12B | -6.92 | ― | ― | -27.21% | -53.22% |
* General Sector Average
IN:RAYMOND
Raymond Limited
1,293.85
711.15
122.04%
IN:ABFRL
Aditya Birla Fashion and Retail Limited
45.74
-40.01
-46.66%
IN:ARVIND
Arvind Limited
534.40
239.56
81.25%
IN:ARVINDFASN
Arvind Fashions Ltd.
406.20
-119.31
-22.70%
IN:PAGEIND
Page Industries Limited
37,925.35
-3,109.46
-7.58%
IN:VTL
Vardhman Textiles Limited
547.70
149.03
37.38%
Raymond Limited Corporate Events
Raymond Shareholders Clear Preferential Issue in EGM Vote
Oct 3, 2026
Shareholders of Raymond Limited have approved a special resolution for a preferential issue of securities on a private placement basis at an Extraordinary General Meeting held on October 3, 2026. The resolution, passed with the requisite majority ...
Raymond Shareholders Clear Preferential Issue of Securities
Oct 3, 2026
Raymond Limited shareholders have approved a preferential issue of securities on a private placement basis at an Extraordinary General Meeting held on October 3, 2026. The special resolution was passed via e-voting with the requisite majority, and...
Raymond moves Scheme of Arrangement with Everblue Apparel to court hearing stage
Sep 25, 2026
Raymond Limited has notified stock exchanges that it has published newspaper advertisements regarding the court hearing of a Company Scheme Petition for a Scheme of Arrangement between Everblue Apparel Limited as the transferor and Raymond Limited...
Raymond Announces Virtual Extraordinary General Meeting for October 3, 2026
Sep 12, 2026
Raymond Limited has notified the stock exchanges that it has published newspaper advertisements announcing an Extraordinary General Meeting to be held on October 3, 2026, at 4:30 p.m. IST. The meeting will be conducted via video conferencing and o...
Raymond Grants 187,056 ESOP Options From Recycled Pool
Sep 7, 2026
Raymond Limited has granted 187,056 stock options to an eligible employee under its Raymond Limited Employees Stock Option Plan 2023, drawing these options from a recycled pool created by the exit of other eligible employees. The grant was approve...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.