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Swing Capital

Raymond Ltd

NSE: RAYMOND BSE: 500330FMCG

Raymond Limited incorporated in 1925 is a diversified group with interests in Textile & Apparel sectors as well as presence across diverse segments such as Real Estate, FMCG, Engineering in national and international markets 55+ Countries including the USA, Europe, Japan & Middle East. The Company has a retail network of 1,638 stores, including 1,589 stores in about 600 towns and cities in India and 49 overseas stores in nine countries. It is one of the largest vertically and horizontally integrated manufacturers of worsted suiting fabric in the world. [1] [2]

₹503
52W: ₹320 — ₹784
PE 0 · Book ₹268 · +88% vs book
Market Cap₹3,350 Cr
Stock P/E—Price to Earnings
ROCE0.54%Return on Capital
ROE0.5%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 117%

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of -71.3% over past five years.
  • −Earnings include an other income of Rs.5,383 Cr.

Shareholding Pattern

Promoters48.87%
FIIs9.74%
DIIs3.61%
Public37.73%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters49.01%48.87%▼0.148.87%48.87%48.87%48.87%48.87%48.87%
FIIs15.56%15.67%▲0.115.38%▼0.315.64%▲0.313.79%▼1.913.61%▼0.211.01%▼2.69.74%▼1.3
DIIs9.29%7.3%▼2.07.19%▼0.16.84%▼0.44.8%▼2.03.53%▼1.33.43%▼0.13.61%▲0.2
Public26.1%28.11%▲2.028.52%▲0.428.6%▲0.132.5%▲3.933.95%▲1.536.64%▲2.737.73%▲1.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales441221211021
Expenses393151218222515232528
Operating Profit48-13-10-18-20-23-14-23-23-27
OPM %11%-692%-596%-1956%-906%-1877%-1445%-25889%-1290%-1995%
Net Profit1611958,77666761105,289-3-3-19
EPS ₹24.1929.351317.779.9411.3416.55794.15-0.43-0.49-2.84

AI Insights

Revenue Trend

Mar 2026 revenue at ₹4Cr, down 33.3% YoY. OPM at -2072%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 3.61% (-1.89pp change). FIIs: 9.74% (-8.02pp change). Promoters hold 48.87%.

Margin & Efficiency

ROCE declining from 10% (Mar 2015) to -1% (Mar 2026). Working capital days: 48630.

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