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Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Raymond Ltd

About the Company - Raymond Ltd

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 Finishing of man-made and blended man-made textiles.. Company’s Total Operating Revenue is Rs. 4260.66 Cr. and Equity Capital is Rs. 66.57 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Textiles - Woollen/WorstedPlot No.156, Ratnagiri Maharashtra 415612corp.secretarial@raymond.in
http://www.raymond.in
Management
NamePosition Held
Mr. Gautam Hari SinghaniaChairman & Managing Director
Mrs. Nawaz Gautam SinghaniaNon Executive Director
Mr. Ashish KapadiaIndependent Director
Mr. Dinesh Kumar LalIndependent Director
Mrs. Mukeeta JhaveriIndependent Director
Mr. Shiv Surinder KumarIndependent Director
Mr. K Narasimha MurthyIndependent Director
Mr. S L PokharnaNon Executive Director

Raymond Ltd. Share Price Update

Share PriceValue
Today₹1,710.10
Previous Day₹1,723.50

Basic Stock Data of Raymond Ltd

Market Cap 12,458 Cr.
Current Price 1,871
High / Low2,240/1,093
Stock P/E7.27
Book Value 630
Dividend Yield0.16 %
ROCE21.4 %
ROE22.9 %
Face Value 10.0

Data Source: screener.in

Competitors of Raymond Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Industry Average0 Cr0000%0%0%0

Raymond Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,2431,3668261,5511,8431,9581,7282,1682,1682,1501,7712,2532,386
Expenses1,1301,2118621,3721,5681,6741,5201,8331,8541,8131,5751,9392,028
Operating Profit114155-36180275284208335314337197315358
OPM %9%11%-4%12%15%15%12%15%14%16%11%14%15%
Other Income5454-72426-35281927-381,0365264
Interest686155585757596370647989104
Depreciation76716160605958585862606570
Profit before tax2378-159861841331182332131731,093212248
Tax %5%25%1%34%45%-100%31%30%55%-13%2%24%25%
Net Profit2258-1575610126582162971961,067161185
EPS in Rs3.268.48-23.518.0015.0639.5512.1523.8614.2529.19160.0124.0027.56

Raymond Ltd Quarterly Chart

Raymond Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales3,6424,0694,5485,3335,1775,3535,9066,5826,4823,4466,1798,2158,343
Expenses3,1893,6964,1184,9054,7905,0485,4816,0135,9663,5075,4747,0157,181
Operating Profit454373430427387305426569516-607051,1991,162
OPM %12%9%9%8%7%6%7%9%8%-2%11%15%14%
Other Income8243879593821371202851866311,077
Interest165191197200190178184233303276228257303
Depreciation166189196162159157170196340314240235245
Profit before tax2043712516013252208260159-4652437371,691
Tax %30%68%24%27%35%42%32%33%-27%35%-9%27%
Net Profit157271101208630142175202-3042655371,521
EPS in Rs25.384.6817.5318.3813.824.1621.9327.3730.30-44.6239.1179.45227.45
Dividend Payout %10%21%11%16%22%30%14%11%0%0%8%4%

Raymond Ltd Profit & Loss Yearly Chart

Raymond Ltd Growth

Compounded Sales Growth
10 Years:7%
5 Years:7%
3 Years:8%
TTM:7%
Compounded Profit Growth
10 Years:36%
5 Years:37%
3 Years:53%
TTM:140%
Stock Price CAGR
10 Years:21%
5 Years:21%
3 Years:73%
1 Year:45%
Return on Equity
10 Years:8%
5 Years:9%
3 Years:10%
Last Year:23%

Raymond Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital61616161616161616567676769
Reserves1,3011,3181,4051,4801,6111,6121,7511,8922,3112,0312,2932,8324,127
Borrowings1,7471,7531,9011,8812,0632,1402,3532,4682,5562,4132,3532,5293,436
Other Liabilities8751,0321,0561,2271,1701,4251,9252,2192,7902,2202,6542,7582,879
Total Liabilities3,9844,1644,4224,6504,9055,2386,0906,6407,7226,7307,3668,18610,510
Fixed Assets1,3481,3071,2561,2741,1741,1691,7411,9352,4412,0441,8781,9342,064
CWIP1261741741962404122711144021253652
Investments5085245154276096406365405985001,1001,6392,990
Other Assets2,0012,1592,4772,7532,8813,0163,4434,0514,6444,1644,3634,5775,404
Total Assets3,9844,1644,4224,6504,9055,2386,0906,6407,7226,7307,3668,18610,510

Raymond Ltd Reserves and Borrowings Chart

Raymond Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 232326192380317348395251390704677804
Cash from Investing Activity -196-163-56-140-211-223-415-127-14864-425-476
Cash from Financing Activity -32-161-119-250-118-12230-149-130-668-323-319
Net Cash Flow4217-10-1239-25113100-7110

Raymond Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days6466686374726770651015233
Inventory Days251219222181195200235247287363328304
Days Payable11412112011098120164176183258279206
Cash Conversion Cycle200164170134171151138141169206100131
Working Capital Days725181657057426778986155
ROCE %12%7%9%10%10%6%9%11%9%-4%13%21%

Raymond Ltd Financial Efficiency Indicators Chart

Raymond Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters48.27%48.84%49.12%49.12%49.04%49.16%49.16%49.15%49.15%49.15%49.11%49.11%
FIIs6.39%6.43%8.63%7.25%9.58%10.21%14.18%14.97%16.28%16.72%17.76%17.71%
DIIs4.37%4.29%4.18%4.15%4.66%4.69%4.90%5.12%4.97%5.10%5.50%6.00%
Public40.98%40.44%38.07%39.48%36.72%35.94%31.76%30.77%29.58%29.03%27.62%27.14%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.03%
No. of Shareholders1,86,1441,76,5881,69,7691,74,2461,64,2641,59,5621,57,1331,50,9221,52,1401,52,6021,45,4541,58,403

Raymond Ltd Shareholding Pattern Chart

No. of Raymond Ltd Shareholders

Raymond Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Tata Equity P/E Fund - Regular Plan8629952129.75
Tata Equity P/E Fund - Regular Plan - Trigger Option A 5%8629952129.75
UTI Aggressive Hybrid Fund1485140.4522.33
Tata India Consumer Fund1080000.9216.24
UTI Large & Mid Cap Fund717130.4910.78
ITI Small Cap Fund670390.5510.08
UTI Retirement Fund649930.249.77
Motilal Oswal Nifty Smallcap 250 Index Fund129270.381.94
Axis Nifty Smallcap 50 Index Fund125271.181.88
Kotak Nifty Alpha 50 ETF103992.151.56

Raymond Ltd ROCE Trend

Raymond Ltd EPS Trend

Raymond Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)79.4539.11-44.6331.4427.37
Diluted EPS (Rs.)79.4539.11-44.6331.1627.37
Cash EPS (Rs.)113.6976.793.0160.2561.79
Book Value[Excl.RevalReserv]/Share (Rs.)448.22365.96327.35380.50331.82
Book Value[Incl.RevalReserv]/Share (Rs.)448.22365.96327.35380.50331.82
Revenue From Operations / Share (Rs.)1233.93928.07517.691001.621072.37
PBDIT / Share (Rs.)198.53132.2720.3094.52114.39
PBIT / Share (Rs.)163.1796.25-26.8942.0282.38
PBT / Share (Rs.)108.4437.49-68.361.1343.73
Net Profit / Share (Rs.)78.3440.78-44.197.7529.78
NP After MI And SOA / Share (Rs.)79.4539.11-44.6230.3027.37
PBDIT Margin (%)16.0814.253.929.4310.66
PBIT Margin (%)13.2210.37-5.194.197.68
PBT Margin (%)8.784.03-13.200.114.07
Net Profit Margin (%)6.344.39-8.530.772.77
NP After MI And SOA Margin (%)6.434.21-8.613.022.55
Return on Networth / Equity (%)18.2411.03-14.168.268.59
Return on Capital Employeed (%)24.4916.18-4.747.8319.98
Return On Assets (%)6.453.52-4.402.532.52
Long Term Debt / Equity (X)0.340.490.560.160.21
Total Debt / Equity (X)0.730.870.900.911.10
Asset Turnover Ratio (%)0.820.670.280.560.63
Current Ratio (X)1.331.291.261.030.97
Quick Ratio (X)0.660.700.700.510.51
Inventory Turnover Ratio (X)0.370.380.150.410.53
Dividend Payout Ratio (NP) (%)3.770.000.000.0013.21
Dividend Payout Ratio (CP) (%)2.610.000.000.006.09
Earning Retention Ratio (%)96.230.000.000.0086.79
Cash Earning Retention Ratio (%)97.390.000.000.0093.91
Interest Coverage Ratio (X)5.143.870.482.023.02
Interest Coverage Ratio (Post Tax) (X)3.442.91-0.061.041.81
Enterprise Value (Cr.)10019.377497.663831.943376.577068.30
EV / Net Operating Revenue (X)1.221.211.110.521.07
EV / EBITDA (X)7.588.5128.355.5210.07
MarketCap / Net Operating Revenue (X)0.990.920.690.220.75
Retention Ratios (%)96.220.000.000.0086.78
Price / BV (X)2.812.411.150.602.54
Price / Net Operating Revenue (X)0.990.920.690.220.75
EarningsYield0.060.04-0.120.130.03

Raymond Ltd Profitability Ratios (%)

Raymond Ltd Liquidity Ratios

Raymond Ltd Liquidity Ratios (%)

Raymond Ltd Interest Coverage Ratios (X)

Raymond Ltd Valuation Ratios

Fair Value / Intrinsic Value of Raymond Ltd

Fair Value: ₹1050.52

The stock is overvalued by 43.85% compared to the current price ₹1871

*Investments are subject to market risks

Strength and Weakness of Raymond Ltd

StrengthWeakness
  1. The company has shown consistent growth in sales (5.23 cr) and profit (142.54 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 71.39 and average Dividend Yield of 6.05%.
  2. The stock has a low average ROCE of 9.42%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 66.42, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 156.25, which may not be favorable.
  5. The company has higher borrowings (2,276.38) compared to reserves (1,997.23), which may suggest financial risk.

Should I Buy Raymond Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Raymond Ltd:
    1. Net Profit Margin: 6.34%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 24.49% (Industry Average ROCE: 0%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 3.44
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 0.66
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 7.27 (Industry average Stock P/E: 0)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.73
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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