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Last Updated: April 2, 2026, 3:34 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500330 | NSE: RAYMOND

Raymond Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹8,914.28Undervalued by 2,439.68%vs CMP ₹351.00

P/E (12.3) × ROE (182.0%) × BV (₹488.00) × DY (2.00%)

₹12,801.08Undervalued by 3,547.03%vs CMP ₹351.00
MoS: +97.3% (Strong)Confidence: 54/100 (Moderate)Models: 6 Under, 1 Fair, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹34,492.6325%Under (+9727%)
Graham NumberEarnings₹3,003.8218%Under (+755.8%)
Earnings PowerEarnings₹2,923.3212%Under (+732.9%)
DCFCash Flow₹20,081.0712%Under (+5621.1%)
Net Asset ValueAssets₹488.698%Under (+39.2%)
EV/EBITDAEnterprise₹346.3410%Fair (-1.3%)
Earnings YieldEarnings₹8,217.608%Under (+2241.2%)
Revenue MultipleRevenue₹292.686%Over (-16.6%)
Consensus (8 models)₹12,801.08100%Undervalued
Key Drivers: EPS CAGR 286.9% lifts DCF — verify sustainability. | Wide model spread (₹293–₹34,493) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 286.9%

*Investments are subject to market risks

Investment Snapshot

48
Raymond Ltd scores 48/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health62/100 · Moderate
ROCE 1.6% WeakROE 182.0% ExcellentD/E 0.90 ModerateInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money20/100 · Weak
FII holding down -4.63% (6mo) SellingDII holding down 3.41% MF sellingPromoter holding at 48.9% Stable
Earnings Quality30/100 · Weak
OPM contracting (13% → 5%) DecliningWorking capital: 266 days Capital intensive
Quarterly Momentum70/100 · Strong
Revenue (4Q): +31% YoY AcceleratingProfit (4Q): -29% YoY DecliningOPM: 10.7% (up 4.0% YoY) Margin expansion
Industry Rank40/100 · Moderate
P/E 12.3 vs industry 9.7 In-lineROCE 1.6% vs industry 7.6% Below peersROE 182.0% vs industry 98.7% Above peers3Y sales CAGR: -32% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Raymond Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
50/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 12.3 vs Ind 9.7 | ROCE 1.6% | ROE 182.0% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.90x | IntCov 0.0x | Current 1.26x | Borrow/Reserve 0.32x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹7,636 Cr | CFO/NP N/A
Ownership Accumulation
-50
Distribution
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -2.60 pp | DII -0.10 pp | Prom 0.00 pp
Business Momentum
-43
Watch closely
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +5.6% | Q NP -48.9% | Q OPM +2.6 pp
Derived FieldValueHow it is derived
Valuation Gap %+3,547.0%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.32xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-2.60 ppLatest FII% minus previous FII%
DII Change-0.10 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-3,274Latest shareholder count minus previous count
Quarterly Sales Change+5.6%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-48.9%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+2.6 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:34 am

Market Cap 2,335 Cr.
Current Price 351
Intrinsic Value₹12,801.08
High / Low 784/320
Stock P/E12.3
Book Value 488
Dividend Yield0.00 %
ROCE1.64 %
ROE182 %
Face Value 10.0
PEG Ratio0.04

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Raymond Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Raymond Ltd 2,335 Cr. 351 784/32012.3 4880.00 %1.64 %182 % 10.0
Ashnoor Textile Mills Ltd 60.4 Cr. 37.9 58.4/34.57.09 58.30.00 %13.6 %15.4 % 10.0
Industry Average2,335.00 Cr194.459.70273.150.00%7.62%98.70%10.00

All Competitor Stocks of Raymond Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2,168.162,150.18473.37470.08678.46265.88449.81473.58466.11557.46524.29527.69557.21
Expenses 1,854.031,813.39431.15426.53621.61256.14418.22448.68434.83512.98470.05484.66497.40
Operating Profit 314.13336.7942.2243.5556.859.7431.5924.9031.2844.4854.2443.0359.81
OPM % 14.49%15.66%8.92%9.26%8.38%3.66%7.02%5.26%6.71%7.98%10.35%8.15%10.73%
Other Income 26.83-37.521,064.86152.59192.49249.057,393.9796.3094.81155.995,338.56-131.389.06
Interest 70.4664.277.708.7121.844.5315.5516.3315.9017.4918.5521.5020.59
Depreciation 57.8461.6115.8917.2217.8920.6035.3236.6737.3736.7338.5138.4338.16
Profit before tax 212.66173.391,083.49170.21209.61233.667,374.6968.2072.82146.255,335.74-148.2810.12
Tax % 54.58%-13.32%1.55%5.32%11.55%1.66%0.11%13.45%0.74%6.00%0.14%-109.37%29.84%
Net Profit 96.60196.481,066.74161.16185.39229.797,366.8859.0372.28137.475,328.1513.897.10
EPS in Rs 14.2429.18159.9523.9927.5534.421,106.089.0210.8319.93799.581.710.54

Last Updated: February 4, 2026, 10:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 2:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4,5485,3335,1775,3535,9066,5826,4823,4466,1798,2159731,9472,167
Expenses 4,1184,9054,7905,0485,4816,0135,9663,5075,4747,0159571,8151,965
Operating Profit 430427387305426569516-607051,19916132202
OPM % 9%8%7%6%7%9%8%-2%11%15%2%7%9%
Other Income 879593821371202851866311,7197,7415,372
Interest 19720019017818423330327622825786578
Depreciation 19616215915717019634031424023559146152
Profit before tax 12516013252208260159-4652437371,6687,6625,344
Tax % 24%27%35%42%32%33%-27%-35%-9%27%1%0%
Net Profit 1101208630142175202-3042655371,6437,6365,487
EPS in Rs 17.5318.3713.814.1621.9327.3630.31-44.6039.0979.42245.911,145.85821.76
Dividend Payout % 11%16%22%30%14%11%0%0%8%4%4%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)9.09%-28.33%-65.12%373.33%23.24%15.43%-250.50%187.17%102.64%205.96%364.76%
Change in YoY Net Profit Growth (%)0.00%-37.42%-36.78%438.45%-350.09%-7.81%-265.92%437.67%-84.53%103.32%158.80%

Raymond Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:-10%
5 Years:-21%
3 Years:-32%
TTM:39%
Compounded Profit Growth
10 Years:-13%
5 Years:-32%
3 Years:-59%
TTM:-26%
Stock Price CAGR
10 Years:22%
5 Years:59%
3 Years:43%
1 Year:-13%
Return on Equity
10 Years:5%
5 Years:5%
3 Years:6%
Last Year:1%

Last Updated: September 5, 2025, 1:00 pm

Balance Sheet

Last Updated: December 4, 2025, 1:53 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 61616161616165676767676767
Reserves 1,4051,4801,6111,6121,7511,8922,3112,0312,2932,8324,5513,6503,184
Borrowings 1,9011,8812,0632,1402,3532,4682,5562,4132,3532,5294,1817401,032
Other Liabilities 1,0561,2271,1701,4251,9252,2192,7902,2202,6542,7794,2033,260826
Total Liabilities 4,4224,6504,9055,2386,0906,6407,7226,7307,3668,20713,0017,7165,109
Fixed Assets 1,2561,2741,1741,1691,7411,9352,4412,0441,8781,9343,4751,7721,557
CWIP 1741962404122711144021253699106
Investments 5154276096406365405985001,1001,6392,8261,1201,987
Other Assets 2,4772,7532,8813,0163,4434,0514,6444,1644,3634,5986,6014,8141,558
Total Assets 4,4224,6504,9055,2386,0906,6407,7226,7307,3668,20713,0017,7165,109

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 192380317348395251390704677804533233
Cash from Investing Activity + -56-140-211-223-415-127-14864-425-476-1,042-232
Cash from Financing Activity + -119-250-118-12230-149-130-668-323-319502-104
Net Cash Flow 17-10-1239-25113100-7110-6-102
Free Cash Flow 741569570-1021019870264670233791
CFO/OP 56%104%95%126%102%56%83%-1,133%101%73%3,845%265%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow429.00426.00385.00303.00424.00567.00514.00-62.00703.00-1.0012.00-608.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 68637472677065101523352876
Inventory Days 2221811952002352472873633283043,796220
Days Payable 120110981201641761832582792062,229133
Cash Conversion Cycle 1701341711511381411692061001312,095163
Working Capital Days 372319-21-29-29-231121506266
ROCE %9%10%10%6%9%11%9%-4%13%21%0%2%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 49.15%49.11%49.11%49.11%49.11%49.01%48.87%48.87%48.87%48.87%48.87%48.87%
FIIs 16.72%17.76%17.71%14.39%14.50%15.56%15.67%15.38%15.64%13.79%13.61%11.01%
DIIs 5.10%5.50%6.00%7.88%8.78%9.29%7.30%7.19%6.84%4.80%3.53%3.43%
Public 29.03%27.62%27.14%28.59%27.59%26.10%28.11%28.52%28.60%32.50%33.95%36.64%
Others 0.00%0.00%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
No. of Shareholders 1,52,6021,45,4541,58,4031,84,4401,74,9191,72,7042,59,5522,76,5762,79,1422,91,1182,96,8862,93,612

Shareholding Pattern Chart

No. of Shareholders

Raymond Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund 1,238,343 0.07 47.05N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 1147.00246.0779.4539.11-44.63
Diluted EPS (Rs.) 1146.00246.0779.4539.11-44.63
Cash EPS (Rs.) 1173.95140.27113.6976.793.01
Book Value[Excl.RevalReserv]/Share (Rs.) 558.40759.60448.22365.96327.35
Book Value[Incl.RevalReserv]/Share (Rs.) 558.40759.60448.22365.96327.35
Revenue From Operations / Share (Rs.) 292.541355.271233.93928.07517.69
PBDIT / Share (Rs.) 50.31236.69198.53132.2720.30
PBIT / Share (Rs.) 28.35194.06163.1796.25-26.89
PBT / Share (Rs.) 18.54131.10108.4437.49-68.36
Net Profit / Share (Rs.) 1152.0097.6478.3440.78-44.19
NP After MI And SOA / Share (Rs.) 1146.71246.0979.4539.11-44.62
PBDIT Margin (%) 17.1917.4616.0814.253.92
PBIT Margin (%) 9.6914.3113.2210.37-5.19
PBT Margin (%) 6.339.678.784.03-13.20
Net Profit Margin (%) 393.797.206.344.39-8.53
NP After MI And SOA Margin (%) 391.9818.156.434.21-8.61
Return on Networth / Equity (%) 205.3535.4618.2411.03-14.16
Return on Capital Employeed (%) 4.0114.7924.4916.18-4.74
Return On Assets (%) 98.8912.436.453.52-4.40
Long Term Debt / Equity (X) 0.070.510.340.490.56
Total Debt / Equity (X) 0.180.740.730.870.90
Asset Turnover Ratio (%) 0.180.841.060.670.28
Current Ratio (X) 1.731.661.331.291.26
Quick Ratio (X) 1.590.870.660.700.70
Inventory Turnover Ratio (X) 0.980.510.740.380.15
Dividend Payout Ratio (NP) (%) 0.871.213.770.000.00
Dividend Payout Ratio (CP) (%) 0.851.032.610.000.00
Earning Retention Ratio (%) 99.1398.7996.230.000.00
Cash Earning Retention Ratio (%) 99.1598.9797.390.000.00
Interest Coverage Ratio (X) 5.134.195.143.870.48
Interest Coverage Ratio (Post Tax) (X) 2.492.843.442.91-0.06
Enterprise Value (Cr.) 10159.9615373.6810019.377497.663831.94
EV / Net Operating Revenue (X) 5.221.701.221.211.11
EV / EBITDA (X) 30.359.767.588.5128.35
MarketCap / Net Operating Revenue (X) 4.801.330.990.920.69
Retention Ratios (%) 99.1298.7896.220.000.00
Price / BV (X) 2.512.612.812.411.15
Price / Net Operating Revenue (X) 4.801.330.990.920.69
EarningsYield 0.810.130.060.04-0.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Raymond Ltd. is a Public Limited Listed company incorporated on 10/09/1925 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L17117MH1925PLC001208 and registration number is 001208. Currently Company is involved in the business activities of Real estate activities with own or leased property. Company's Total Operating Revenue is Rs. 6.09 Cr. and Equity Capital is Rs. 66.55 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
RealtyPlot No.156, H. No.2, Village Zadgaon, Ratnagiri Maharashtra 415612Contact not found
Management
NamePosition Held
Mr. Gautam Hari SinghaniaChairman & Managing Director
Mr. Harmohan SahniNon Executive Director
Mr. Dinesh Kumar LalIndependent Director
Mr. Ashish KapadiaIndependent Director
Mr. K Narasimha MurthyIndependent Director
Mrs. Rashmi MundadaAddnl. & Ind.Director

FAQ

What is the intrinsic value of Raymond Ltd and is it undervalued?

As of 05 April 2026, Raymond Ltd's intrinsic value is ₹12801.08, which is 3547.03% higher than the current market price of ₹351.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (182 %), book value (₹488), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Raymond Ltd?

Raymond Ltd is trading at ₹351.00 as of 05 April 2026, with a FY2026-2027 high of ₹784 and low of ₹320. The stock is currently near its 52-week low. Market cap stands at ₹2,335 Cr..

How does Raymond Ltd's P/E ratio compare to its industry?

Raymond Ltd has a P/E ratio of 12.3, which is above the industry average of 9.70. The premium over industry average may reflect growth expectations or speculative interest.

Is Raymond Ltd financially healthy?

Key indicators for Raymond Ltd: ROCE of 1.64 % is on the lower side compared to the industry average of 7.62%; ROE of 182 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Raymond Ltd profitable and how is the profit trend?

Raymond Ltd reported a net profit of ₹7,636 Cr in Mar 2025 on revenue of ₹1,947 Cr. Compared to ₹265 Cr in Mar 2022, the net profit shows an improving trend.

Does Raymond Ltd pay dividends?

Raymond Ltd has a dividend yield of 0.00 % at the current price of ₹351.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Raymond Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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