The shares of Raymond Ltd, an S&P BSE SmallCap company, were buzzing on the stock market. The shares of the company were trading higher by 2.8 percent, and the frontline index S&P BSE Sensex was up by 0.54 percent. In the second quarter of FY23, Raymond Ltd, delivered its highest-ever EBITDA and revenue for a quarter, according to the exchange filing.
In the first week of November 2022, the company declared its second quarter FY23 results. The net revenue of the company stood at RS 2,191 crore, up by 38 percent year-on-year, and the EBTIDA came in at Rs 358 crore whereas the margin stood at 16.3 percent. The PAT increased by 198 percent year-on-year to Rs 159 crore from Rs 53 crore in the same quarter last year.
As per the relative valuations, the shares of the company are currently trading at a TTM PE of 14.29x against the industry PE of 18.03x. In 2022, Raymond Ltd delivered an ROE and ROCE of 12.19 percent and 11.10 percent, respectively.
In last two years, the shares of the company have delivered multibagger returns to the shareholders, and during this time, the price of its share increased from 319.95 on November 24, 2020 to 1294.95 on November 23, 2022, which is an increase of 305.7 percent in last two years.
On November 24, 2022, Raymond’s scrip opened at Rs 1299.95 and has touched a high of Rs 1349 and low of 1297.3, respectively. Until now 15,512 shares have been traded on the bourses, and the stock of the company has a 52-week high and low of Rs 1,363 and rs 576.70, respectively on the BSE.
Raymond is one of the largest garment manufacturer in India, and it offers end-to-end solutions for fabrics and garments. The company has several brand within its portfolio, including Park Avenue, Raymond Ready to Wear, Parx, and ColorPlus among others.