• Raymond's (RW) 3QFY20 consolidated revenue grew by 12.6%YoY to INR18.8bn led by Branded Apparel, garmenting and real estate business. Branded Apparels posted strong revenue growth largely driven by MBO (Multi Brand Outlets).
• However the division posted a 228bps YoY expansion in comparable EBITDA margin. The company level comparable EBITDA margin declined 53bps due to higher discounted sales, adverse channel mix in Branded Apparel and lower capacity utilization in Auto Components.
• On retail channel expansion in 3QFY20 RW added 50 TRS stores and 40 EBOs. During the quarter, RW completed the preferential allotment of equity shares and compulsory convertible preference shares to JKIT at INR 674 per share.
• Overall the management expects muted consumer sentiment and liquidity concerns to continue during 4QFY20.'
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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