Interim report
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Raymond LIMITED SECRETARIAL DEPARTMENT Jekegram , Pokhran Road No.1 , Thane ( W ) -400 606 Maharashtra , India CIN No .: L17117MH1925PLC001208 Tel : ( 91-22 ) 4036 7000/6152 7000 Fax : ( 91-22 ) 2541 2805 www.raymond.in RL / SE / 26-27 / 46 August 7 , 2026 To The Department of Corporate Services - CRD BSE Limited P.J. Towers , Dalal Street Mumbai 400 001 Scrip Code : 500330 The National Stock Exchange of India Limited Exchange Plaza , 5th Floor Bandra - Kurla Complex Bandra ( East ) , Mumbai - 400 051 Symbol : RAYMOND Dear Sir / Madam , Sub : Outcome of Board meeting – Financial Results We wish to inform you that the Board of Directors of Raymond Limited ( " the Company " ) at their meeting held today i.e. August 7 , 2026 , has inter alia considered and approved the Unaudited Financial Results ( Standalone and Consolidated ) for the First Quarter ended June 30 , 2026 . The Meeting commenced at 2:00 p.m. and concluded at 3:50 p.m. Accordingly , pursuant to Regulation 30 and Regulation 33 of SEBI ( Listing Obligations and Disclosure Requirements ) Regulations , 2015 , we enclose the following : 1. Unaudited Financial Results ( Standalone and Consolidated ) of the Company for the First Quarter ended June 30 , 2026 ; 2. Limited Review Report of the Statutory Auditors of the Company for the said period ; and 3. Press Release on the Unaudited Financial Results for the First quarter ended June 30 , 2026 . Please take the above information on record . Thanking you . Yours faithfully , For RAYMOND LIMITED DZ RAKESH DARJI COMPANY SECRETARY Encl .: A / a REGISTERED OFFICE Plot No. 156 / H No. 2 , Village Zadgaon , Ratnagiri -415 612 , Maharashtra Tel : ( 02352 ) 232514 Fax ( 02352 ) 232513
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Price Waterhouse Chartered Accountants LLP Review Report To The Board of Directors Raymo nd Limit ed JK House, 59A, Bhulabha i Desai Marg, Breach Candy Cumballa Hill, Mumbai - 400026. 1. We have reviewed the unaudited consolidat ed financial results of Raymond Limited (the "Holdin g Compan y"), its subsid iaries (the Holding Company and its subsidiari es hereinafter referred to as the "Group "), and its share of the loss afte r tax and total comprehens ive income of its joint ventures and assoc iate compa nies (refer paragraph 4 below) for the quarter ended June 30, 2026, which are includ ed in the accompanying Statement of consolidated financial results for the qua rter ended 30 June 2026 (the "Statement") . The Statem ent is being submitt ed by the Holding Compan y pursuant to the requirement of Regulation 33 of the SEBI (Listin g Obligations and Disclosure Requirements) Regulatio ns, 2015, as amended (the "Listing Regulations , 2015"), which has been initialled by us for identifica tion purp oses . 2. This Statement , which is the responsibility of the Holdin g Company's Management and has been appro ved by th e Holding Company's Board of Directors, has been prepared in accordance with the recognition and meas urement principles laid down in Indian Accountin g Standa rd 34 "Interim Financial Reporting" , prescri bed und er Section 133 of the Companies Act, 2013, and other accountin g principles genera lly accepted in India . Our respo nsibility is to express a conclusion on the Stateme nt based on our review. 3. We conduct ed our review of the Stat ement in accordance with the Standard on Review Engagements ('SRE') 2410 "Review of Int erim Financial Information Performed by the Independ ent Auditor of the Entity", issued by the Institute of Charter ed Accountant s of India. This Standard requires that we plan and pe1form the reYiew to obtain moderate assurance as to wheth er the Statement is free of material misstatement. A review of interim financial inform ation consists of making inquiries, primaril y of persons responsible for finan cial and accounting matt ers, and applyi ng analytical and other review procedures. A review is subst antially less in scope than an audit conducted in accordance with Standards on Auditing and conseque ntly does not enable us to obtain assurance that we would become awa re of all significant matt ers that might be identified in an audit . Accordingly, we do not express an audit opinion. We also performed procedures in accorda nce with the circular issued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations ,, 1 as~ ended, to the extent app licable. Price Waterhouse Cha rtered Accountants LLP, Nesco IT Building Ill, 8th Floor, N Gate No. 3 Western Express Highway, Goregaon East, Mumbai 400 063 T:+91 (22) 61197810 Pri~c: \\ J l<. 0 l'liuu:,c (.1 P,11111.:hlup hnn I .:om cncd lllh'l Pn..:c Watcrh~Hhc l hanl!'r~J A1.:..:0 11111~ml.:, LLP (a r 1m11cd L i.1b1h t) P.1n11ehh 1p \\ uh I I P 1d1:11111~ rm I I Pf\ \ \('~~IJ(J 11 "tth dfo..:1 from Juh ~5. ~O 1-t Po'it lh .:omer\h•ll ro Pm:c: \\ Jlcrho t1'!>C Chancn:d . \..:coumanb LI P. 1b IC.\ l rcg1 ... 1r.i110 11 munbcr 1:r, 0 I 2..,5-1~ ~500016 {I~· \I 1c:r::1;i.11.111on nu111b1."1 bc:10 11.• ~omc1-...tu 11 \\ ..1.:, (J I _:!-,·q, )
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Price Waterhouse Chartered Accountants LLP 4. The Statement includes the results of the following entiti es listed in Annexure A. 5. Based on our review conducted and pro cedures performed as stated in paragraph 3 above and based on the consideratio n of the review repo rts of the other auditors referred to in paragraph 6 below, nothing has come to our atte ntion that causes us to believe that the accompanying Stateme nt has not been prepared in all material respects in accordan ce with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles genera lly accepted in India and has not disclosed the information required to be disclosed in terms of Regulat ion 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or tha t it contains any material misstatement. 6. The interim financial results of 3 subsid iaries reflect total revenues of Rs. 3,84 6 lakhs, total net profit after tax of Rs. 41 lakhs and total comprehensive income of Rs. 45 lakhs, for the quarter ended June 30, 2026, as cons idered in the unaudited conso lidated financial results. The unaudited consolidated financial results also include the Group's share of net loss after tax of Rs. 29 lakhs and total comprehensi ve income of Rs. 12,837 lakhs for the quart er ended June 30, 2026, in respect of 2 associates and 1 joint ventu res. These interim financial results have been reviewed by othe r auditors and their reports , vide which they have issued an unmodified conclusion, have been furnished to us by the Management or other auditors and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, associates and joint Yentures, is based on the repo rts of the othe r auditors and the procedur es performed by us as stated in paragrap h 3 above. Our conclusion on the Statement is not modifi ed in respect of the above matters. 7. The unaudit ed consolidated financial results includ e the interim financial results of 1 subsidiary which has not been reviewed by their auditors, whose interim financial results reflect total revenue of NIL, total net loss after tax of Rs. 3 lakhs and tota l comprehensive loss of Rs. 3 lakhs for the quarter ended June 30, 2026, as considered in the unaudited consolidated financial results. The unaudited consolidated financial results also include the Group's share of net profit afte r tax of NIL and total comprehensive income of NIL for the quarter ended Jun e 30, 2026, as considered in the unaudited conso lidated finan cial results, in respect of 1 associate based on their interim financial resu lts, which have not been reviewed by their audi tors. Accordi ng to the informati on and explanations given to us by the Management, these interim financial results are not material to the Group. Our conclusio n on the Statement is not modified in respect of the above matter.
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Price Waterhouse Chartered Accountants LLP 8. (a) The comparative figures of the Group as set out in the Statement for the quarter ended June 30, 2026 and March 31, 2026 were reviewed by another firms of Chartered Accountants who, vide their reports dated August 06, 2025 and May 05, 2026, respectively, expressed an unmodifi ed opinion on the same . (b) The conso lidated financial stateme nts of the Company for the year ended March 31, 2026, were audi ted by anot her firm of charter ed accountants under the Companies Act, 2013 who, vide the ir report dated May 05, 2026 , expressed an unmodified opinion on those financial sta tements. Our conclusion on the Statement is not modified in respect of the above matters. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 Kalpesh Bhandari Partne r Membership Number: 120036 UDIN: 26120036GFOABC9394 Place: Mumbai Date : August 07, 2026
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Price Waterhouse Chartered Accountants LLP AnnexureA List of entities includ ed in the consolidated financial statements HOLDING COMPANY • Raymond Limited SUBSIDIARIES • Pashmina Holdings Limited • Everblue Apparel Limited • Raymond Woollen Outer.vear Limited • JK Maini Precision Technology Limited (including its subsidiaries JK Talabot Limited and PT JK Maini Precision Technologies Indonesia (w.e.f. s August 2025)) • JK Files & Engineering Limited (including its subsid iary Scissors Engineering Product s Limited) • JK Maini Global Aerospace Limited ASSOCIATES • P.T. Jaykay Files Indonesia (including its subsidiary P.T. Jaykay Internation al Indonesia) • J .K. Investo Trade (India) Limited (including its subsidiary J.K. Helene Curtis Limited) • Radha Krshna Films Limited JOINT VENTURES • Raymond UCO Denim Private Limited (including its subsidiary UCO Raymond Denim Holding NV and share in joint venture namely UCO Tesatura S.r.l .)
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Reoistered Office: Plot No.156/H No.2. Villaoe Zadoaon. Ratnaoiri 415 612 (Maharashtra) CIN:L 17117MH1925PLC001208 Email : corp.secretarial@raymond.in; Website: www.raymond.in Tel: 02352-232514, Fax: 02352-232513; Corporate Office Tel: 022-40349999, Fax 022-24939036 STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 June 2026 ,~ in lakhs unless otherwise stated) ' Sr. Quarter ended Year ended Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 No. (Unaudited\ /Refer note 6l fUnaudited1 fAudited\ Continuing 011erations 1 Income a} Revenue from operations 60,561 60,291 52,429 2,21,210 b} Other income 2,249 960 3,103 9,970 Total income 62,810 61,251 55,532 2,31,180 2 Expenses a} Cost of materials consumed 18,655 19,919 18,515 74,495 b) Purchases of stock-in-trade 1,536 1,013 1,032 4,103 c) Changes in inventories of finished goods, (170) (1,295} (883) (3,548) work-in-progress and stock-in-trade d) Employee benefits expense 11,366 10,786 10,005 41,758 e) Finance costs 2,027 2,299 1,855 8,363 Q Depreciation and amortisation expense 3,790 3,671 3,851 15,181 g) Other expenses - Manufacturing and operating 14,547 13,712 12,483 52,022 - Others 6,897 8,609 5,649 28,886 Total expenses 58,648 58,714 52,507 2,21,260 Profit from continuing operations before 4,162 2,537 3,025 9,920 3 share in loss of associates and joint ventures, exceptional items and tax (1-2) 4 Share in loss of associates and joint ventures, (29) (116) (204) (355) net of tax Profit from continuing operations before 4,133 2,421 2,821 9,565 5 exceptional items and tax (3+4) 6 Exceptional items (refer note 3) . (2,003) . (20,142) 7 Profit/(Loss) profit from continuing 4,133 418 2,821 (10,577) operations before tax (5+6} 8 Tax expense • Current tax (625) (417) (433) (1,844} - Deferred tax ( refer note 3a) (423) 1,192 (3261 17,775 Total Tax (expense)/credit (1,048) 775 (759) 15,931 9 Profit for the period/ year from continuing 3,085 1,193 2,062 5,354 operations (7+8) Discontinued O(!erations 10 Profit from discontinued operations (refer note - - 5,37,386 5,37,386 4)
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Reaistered Office: Plot No.156/H No.2. Villaae Zadaaon. Ratnaairi 415 612 /Maharashtra) CIN:L 17117MH1925PLC001208 Email : corp.secretarial@raymond.in; Website: www.raymond.in Tel: 02352-232514, Fax: 02352-232513; Corporate Office Tel : 022-40349999, Fax 022-24939036 STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 June 2026 It in lakhs unless otherwise stated) ' Sr. Quarter ended Year ended No. Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 fUnauditedl /Refer note 6\ /Unaudited\ /Audited\ 11 Tax expense on discontinued operations - - (6,633) (6,633) Profit from discontinued operations for the . . 5,30,753 5,30,753 12 period/year (10+11) 13 Profit for the period/ year (9+12) 3,085 1,193 5,32,815 5,36,107 Other Comprehensive Income ('OCI') 14 Continuing oj;!erations Items that will not be subsequently reclassified to profit or loss Remeasurements of defined benefit plan - 279 45 594 Fair value changes on equity instruments 8,798 (14,565) 7,635 (18,973) through OCI Income tax relating to above items (1,258) 2,073 (1,103) 2,633 Share of OCI in associates and joint ventures 12,865 (18,126) - 39,503 (net of tax) Items that will be subsequently reclassified Exchange differences on translating financial 2 - . . statements of foreign operations Share of OCI in associates and joint ventures - (6) . 10 (net of tax) Other Comprehensive lncomel{Loss) from 20,407 (30,345) 6,577 23,767 Continuing Operations for the period! year Other Comprehensive lncome/(Loss) from - - - - 15 Discontinued Operations for the period/ year Total Other Comprehensive lncome/(Loss) 20,407 (30,345) 6,577 23,767 16 for the period/ year (14+15) 17 Total Comprehensive lncomel(Loss) for the 23,492 (29,152) 5,39,392 5,59,874 period! year (13+16)
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SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES (CONSOLIDATED) FOR THE QUARTER ENDED 30 JUNE 2026 ('< in lakhs, unless otherwise stated) Quarter ended Year Ended Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (Unaudited) (Unaudited) (Unaudited) (Audited) Segment revenue Revenue from external customers -• Precision technology and auto component 44,391 44,216 39,828 1,66,693 -• Aerospace and defence 12,273 11 ,940 8,738 39,238 -• Others 3,925 4,160 3,866 15,314 Inter segment revenue (28) (25) (3) (35) Segment revenue from continuing operations (a) 60,561 60,291 52,429 2,21,210 Revenue from discontinued operations (refer foot note 13,754 13,754 (i) - - Total revenue (a+b) 60,561 60,291 66,183 2,34,964 Segment results - • Precision technology and auto component 4,173 4,760 2,280 14,504 -• Aerospace and defence 1,562 2,083 1,114 4,864 -• Others (235) (5) (145) (362) Segment profit before financ.e costs, share in loss of 5,500 6,838 3,249 19,006 associates and joint ventures, exceptional items and tax Finance costs (1,863) (2,174) (1,694) (7,804) Unallocated lncome/(expenses) (net) 525 (2,127) 1,470 (1,282) Profit from continuing operations before share in loss 4,162 2,537 3,025 9,920 of associates and joint ventures, exceptional items and tax Share in loss of associates and joint ventures, net of tax (29) (116) (204) (355) Exceptional items - (loss} (refer note 3) . (2,003} . (20,142) Profit/(Loss) before tax 4,133 418 2,821 (10,577) Tax credit/ (expense) (refer note 3a) (1,048) 775 (759) 15,931 Profit for the period/ year from continuing operations 3,085 1,193 2,062 5,354 Profit from discontinued operations for the period/year 5,30,753 5,30,753 (refer footnote (i)) . . Profit for the period/ year 3,085 1,193 5,32,815 5,36,107 . 1~·,_' " . ,le Munil,1~
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(~ in lakhs, unless otherwise stated} Quarter ended Year Ended Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (Unaudited) (Unaudited) (Unaudited) (Audited) Segment assets • Precision Technology and Auto Component 1,49,817 1,46,984 1,52,194 1,46,984 - Aerospace and Defence 88,697 86,912 86,020 86,912 - Others 11,823 11,072 10,255 11,072 Unallocable assets 2,47,506 2,29,158 2,20,920 2,29, 158 Inter segment assets (166) (329) (642) (329) Assets related to discontinued operations [refer footnote (i)] . . 455 . 4,97,6TT 4,73,797 4,69,202 4,73,797 Segment liabilities - Precision Technology and Auto Component 44,484 42.437 40,313 42,437 • Aerospace and Defence 11,255 12,513 8.142 12,513 - Others 5,437 4,676 3,541 4,676 Unallocable liabilities . Borrowings 97,275 99,851 96,521 99,851 Others 4,071 2,882 30,316 2,882 Inter segment liabilities (166) (329) (642) (329) 1,62,356 1,62,030 1,78,191 1,62,030 Footnotes: i) Pursuant to demerger scheme of realty business undertaking becoming effective on 01 May 2025 (refer note 4), segment namely· Real estate and development of property" is shown under discontinued operations: ii) Unallocable income (including income from investments} are net of unallocable expenses. Group's performance is evaluated based on various performance indicators under these business segments. Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker ('CODM').
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Notes to the Consolidated Financial Results: These consolidated financial results (the 'Statement') of Raymond Limited (the 'Company' or 'Holding Company') and its subsidiaries (collectively, the 'Group') and its interest in associates and joint ventures (refer Annexure 1 ), have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013, as amended and other accounting principles generally accepted in India and are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('listing Regulations'), 2 The Statement has been reviewed and recommended by the Audit Committee and approved by the Board of Directors at !heir respective meetings held on 6 August 2026 and 7 August 2026. 3 Exceptional items: (~ In lakhs, unless otherwise stated) Quarter ended Year ended Particulars 30.06.2026 31 .03.2026 30.06.2025 31.03.2026 (Unaudited) (Unaudited\ (Unaudited) (Audited) Continuing operations Reversal of Goodwill ( Refer note a below) - - - 16,740 Impact of new labour codes ( Refer note b below) - (647) - 752 Stamp duty pursuant to the scheme (Refer note a below) - 2,650 2,650 Exceptional items • (loss) . 2,003 - 20,142 a The Composite Scheme of Arrangement (the 'Scheme') among JK Files & Engineering Limited, Maini Precision Products Limited ('MPPL'), Ring Plus Aqua Limited, JK Maini Precision Technology Limited and JK Ma.ini Global Aerospace Limited was approved by Hon'ble National Company Law Ttribunal (NCLT) on 4 July 2025 having appointed Date of 1 April 2024 and became effective on 31 July 2025, which is accounted for under Appendix C to Ind AS 103 from the appointed date. On this Scheme becoming effective, deferred tax ITabilily ('DTL') of Rs.16,740 lakhs related to MPPL, originally recognised on temporary differences arising on recognition of intangible assets under purchase price allocation during the acquisition of MPPL by the Group in financial year 2023-24, as per the requirements of Ind AS 12 'Income Taxes", has been reversed as it now forms part of the tax base. Consequently, carrying value of goodwill was re-assessed and carrying value of goodwill associated wilh such DTL has been reversed and recognised as 'Reversal of Goodwill'. Further, stamp duty payable on transfer of immovable properties was recognised as an "Stamp duty pursuant to the scheme". b Pursuant to the four Labour Codes notified by the Government of India on November 21, 2025 and the draft Central Rules issued by the Ministry of Labour & Employment, the Group had assessed and recognised an incremental provision for gratuity towards past service cost. 4 Pursuant to the Scheme of Arrangement sanctioned by the NCL T, Mumbai Bench (order dated 27 March 2025), the real estate business of Raymond Limited was dernerged into Raymond Realty Limited wtth effect from 01 May 2025. The net results of the Realty Undertaking are disclosed as 'discontinued operations' under Ind AS 105, and the resultant gain on demerger has been disclosed under 'profit from discontinued operations'. Analvsis of discontinued operations • (~ in lakhs unless otherwise stated) Quarter ended Year Ended Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (Unaudited) (Unaudited) (Unaudited) (Audited) Total income (including other income) - - 14,381 14,381 Expenses - (12,587) (12,587) Gain on demerger - 5,35,592 5,35,592 Profit before tax . - 5,37,386 5,37,386 Tax expense - - (6,633) (6,633) Profit after tax . . 5,30,753 5,30,753 :::--:.-- .. ---.;::: .,,, ~ ~ ·~ /. \ • .\.- I• ' ~ •/: ~ "IV017-1 ,;, ~ ' l,Jun,\l;ll r
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5 Subsequent to the quarter ended 30 June 2026, the Holding Company issued and allotted 66,57,373 convertible warrants at an issue price of Rs. 497 per warrant to JK Investors (Bombay) Limited, a promoter group entity on a preferenfial basis upon receipt of the stock excnanges approval on 7 July 2026. The Company received upfront subscription of Rs. 124.25 per Warrant (25% of issue price) aggregating to ~82.72 crore and each Warrant is convertible into one equity share of 1{10 each, within 18 months of allotment, on payment of the balance consideration. 6 Figures for the quarter ended 31 March 2026 are the balancing figures between the audited consolidated figures in respect of the full financial year and the unaudited consolidated nine months figures as reported by the Group. Mumbai 7 August 2026 Gautam Hari Singhania Chairman and Managing Director DIN : 00020088 '
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Annexure 1 List of entities HOLDING COMPANY Raymond Limited SUBSIDIARIES Pashmina Holdings Limited Everblue Apparel Limited Raymond Woollen Outerwear Limited JK Maini Precision Technology Limited JK Talabot Limited PT JK Maini Precision Technologies Indonesia (w.e.f. 5 August 2025) JK Files & Engineering Limited Scissors Engineering Products Limited JK Maini Global Aerospace Limited Raymond Realty Limited (up to 1 May 2025) Ten X Realty Limited (up to 01 May 2025) Rayzone Property Services Limited (up to 01 May 2025) Ten X Realty East Limited (up to 01 May 2025) Ten X Realty West Limited (up lo 01 May 2025) Note: Ring Plus Aqua Limited and Maini Precision Products Limited have amalgamated with JK Maini Precision Technology Limited ASSOCIATES P.T. Jaykay Files Indonesia P.T. Jaykay International Indonesia J.K. lnvesto Trade (India) Limited J.K. Helene Curtis Limited Radha Krshna Films Limited JOINT VENTURES Raymond UCO Denim Private Limited UCO Tesatura S.r.l. UCO Raymond Denim Holding NV
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Price Waterhouse Chartered Accountants LLP Review Report To The Board of Directors Raymond Limited JK House, 59A, Bhulabhai Desai Marg, Breach Candy Cumballa Hill, Mumbai - 400026. 1. We have reviewed the unaudited financial results of Raymond Limited (the "Compan y") for the quarter ende d June 30, 2026, which are included in the accompanying 'Statement of standalone financia l results for the quarter ended 30 June 2026' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requ irements) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes . 2. This Statement, which is the responsibi lity of the Company's Management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accountin g principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financ ial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and pe1torm the review to obtain moderate assurance as to whether the Statement is free of material misstat eme nt. A review of interim financial information consists of making inquiries, primarily of persons respons ible for financia l and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the applicable Accounting Standards prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatemen t. Price Waterhouse Chartered Accountants LLP, Nesco IT Building III, 8th Floor, Nesco IT Park, Nesco Complex. Gate No. 3 Western Express Highway, Goregaon East, Mumbai 400 063 T: +91 (22) 61197810 Pn.:e \\'.u~rhou,c f .1 Pannc:J"'>h1p I-inn ) ~omac11cd lflhl Pn\!c \\ .11~rl1uuw Ch:mcrcd \ i:cuunIanr s LI P la L1m11c:d I 1ab1ht~ P,111nc-r:"ll11p \\ 11h L LP 1di:1HH) no LI. Pl\' ♦\ , \\.500 I l "1 1h dlC:1.:t lrurn Jul, ~5. 1tJ 1.t P(ht 11-. .:o m "'•~1u 11 to Pm:e \\ ,.ll1!1ho u .... c C hani:1-cd ,•\ c ~iH11t1:111t-. I I P. 11, IC \I rc g1, 1r..1t1on munbl!r t:, 01275-1 ~ \ ~00t}l6 ( I( ~ \I n:g1~ 11.11h111 1111111hl'r bc:flm: .:f1n\cr.,1 0 11 \, ,1-. 0 1275-t'\ )
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Price Waterhouse Chartered Accountants LLP 5. (a) The financial results of the Compa ny for the quarters ended June 30, 2026 and March 31, 2026 were reviewed by another firms of chartered accountants who issued their unmodified conclusion, vide their reports dated August 06, 2025 and May 05, 2026, respectively. (b) The financia l statements of the Company for the year ended March 31, 2026 were aud ited by anothe r firm of Chartered Accountants, who issued an unmodified opin ion vide their rcpo1t dated May 05, 2026. Our conclusion is not modified in respect of these matters. For Price Waterhouse Chartere d Accountants LLP Firm Registration Number : 012754N/N500016 ~ Kalpesh Bhandari Pa1tner Membership Number : 120036 UDIN: 26120036JPWZZI4037 Mumba i August 07, 2026
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Registered Office: Plot No.156/H No.2, Village Zadgaon , Ratnagiri 415 612 (Maharashtra) CIN:L 17117MH1925PLC001208 Email : corp.secretarial@raymond .in; Website : www.raymond.in STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 June 2026 (f in lakhs unless otherwise stated) . Sr. Quarter ended Year ended No. Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (Unaudited) (Refer note 8) Continuing operations (Unaudited) (Audited) 1 Income a) Revenue from operations 80 136 99 425 b) Other income 2,329 1,214 3,882 10,560 Total income 2,409 1,350 3,981 10,985 2 Expenses a) Employee benefits expense 544 462 813 2,559 b) Finance costs 2 5 1 15 c) Depreciation and amortisation expense 708 670 873 3,140 d) Other expenses 952 2,387 717 6,674 Total expenses 2,206 3,524 2,404 12,388 3 Profit/ (Loss) from continuing operations before exceptional 203 (2,174) 1,577 (1,403) items and tax (1-2) 4 Exceptional items - (loss) (refer note 5) . (21 . (211 5 Profit/ (Loss) from continuing operations before tax (3+4) 203 (2,195) 1,577 (1,424) 6 Tax expense - Current tax . (83) (328) (859) - Deferred tax (34: 386 (69 962 Total tax (expense)/ credit (34 303 (397 103 7 Profit I (Loss) for the period/ year from continuing operations 169 (1,892) 1,180 (1,321) (5+6) 8 Discontinued operations {refer note 61 Profit from discontinued operations . . 5,34,379 5,34,379 Tax expense on discontinued operations . . (6,654) (6,654) Profit from discontinued operations for the period/year . . 5,27,725 5,27,725 9 ProfiU(Loss) for the period/ year (7+8) 169 (1,892) 5,28,905 5,26,404 10 Other Comprehensive Income ('OCI') Items that will not be reclassified subsequently to profit or loss Continuing operations Fair value changes on equity instruments through OCI 8,794 (14,531) 7,613 (19,002) Remeasurement of defined benefit plan . (42) 45 89 Income tax relating to above items (1,258) 2,089 (1,103) 2,695 Total Other Comprehensive lncome/(Loss) for the period/ 7,536 year (net of taxes) (12,484) 6,555 (16,218) 11 Total Comprehen sive lncomel (Loss) for the period/ year 7,705 (14,376) 5,35,460 5,10,186 1{9+10)
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STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 June 2026 (" in lakhs unless otherwise stated) ' Sr. Quarter ended Year ended No. Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 12 Paid-up equity share capital (Face value - , 10 per share) 6,655 6,655 6,655 6,655 13 Other equity 1,72,012 14 Earnings per share (face value~ 10 each) (not annualised) (in f) Continuing operations (a) Basic 0.25 (2.84) 1.77 (1.98) (b) Diluted 0.25 (2.84) 1.77 (1.98) Discontin ued operations (a) Basic - - 792.96 792.69 (b} Diluted - - 792.96 792.69 Continuing and discontinued operations (a) Basic 0.25 (2.84) 794.73 790 71 (b) Diluted 0.25 (2.84) 794.73 790.71
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Notes to the Stan dalone Financial Results: 1 These unaudited standalone financial results (the 'Statement') of Raymond Limited (the 'Company') have been prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013, as amended and other accounting principles generally accepted in India and are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'). 2 The Statement has been reviewed and recommended by the Audit Committee at its meeting held on 06 August 2026 and approved by the Board of Directors at its meeting held on 07 August 2026. 3 The Board of Directors of the Company at its meeting held on 27 January 2026 approved the Scheme of Amalgamation (the 'Scheme') with Everblue Apparel Limited, a wholly-owned subsidiary of the Company, with the Company. The Scheme under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 and the rules framed thereunder, has been filed with Hon'ble National Company Law Tribunal (NCL T) and which is subject to the requisite regulatory approvals and considering that, accounting impact of the Scheme has not been considered in the statement. 4 Subsequent to the quarter ended 30 June 2026, the Company issued and allotted 66,57,373 convertible warrants at an issue price of Rs. 497 per warrant to JK Investors (Bombay) Limited, a promoter group entity on a preferential basis upon receipt of the stock exchanges approval on 7 July 2026. The Company received upfront subscription of Rs. 124.25 per Warrant (25% of issue price) aggregating to ,a2.72 crore and each Warrant is convertible into one equity share of ,10 each, within 18 months of allotment, on payment of the balance consideration. 5 Pursuant to the four Labour Codes notified by the Government of India on November 21, 2025, and the draft Central Rules issued by the Ministry of Labour & Employment, the Company had assessed and recognised an incremental provision for gratuity of ,21 Jakhs towards past service cost for the quarter and year ended March 31, 2026 as an Exceptional Item. 6 Pursuant to the Scheme of Arrangement sanctioned by the NCL T, Mumbai Bench (order dated 27 March 2025), the real estate business of Raymond Limited was demerged into Raymond Realty Limited with effect from 01 May 2025. The net results of the Realty Undertaking are disclosed as 'discontinued operations' under Ind AS 105, and the resultant gain on demerger has been recognised as gain on demerger. (' in lakhs unless otherwise stated) ' Analysis of disco ntinued operations : Quarter ended Year ended Real~ Undertaking 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (Unaudited) (Unaudited) (Unaudited) (Audited) Income - - 11,084 11,084 Less- Expenses - - (9,350) (9,350) Exceptional item- Qain - - 5,32,645 5,32,645 Profit before tax - - 5,34,379 5,34,379 Less- Tax (expenses) - - (6,654) {6,654) Profit for the period /year - - 5,27,725 5,27,725 7 In accordance with Ind AS 108 "Operating Segments·, the Company has opted to present segment information along with the consolidated financial results of the Raymond Limited Group. 8 Figures for the quarter ended 31 March 2026 are the balancing figures between the audited figures in respect of the full financial year and the unaudited nine months figures as reported by the Company. C. Mumba i Date: 07 August 2026 ~ _, /'U,h r; 1,,4~ ~ - . ! · (J Gautam Hari Singhan ia .....,,, __ _. Chairman and Managing Director
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PRESS RELEASE Corporate Office: JEKEGRAM Pokhran Road No. 1, Thane (West) - 400 606, Maharashtra, India. August 7, 2026 Raymond Limited reports a healthy Q1 FY27 performance Mumbai, 7th August 2026: Raymond Limited today announced its unaudited financial results for the quarter ended 30th June 2026. Particulars (₹ Cr.) Q1 FY27 Q4 FY26 Q1 FY26 YoY Total Income 628 613 555 13% EBITDA 100 85 87 14% EBITDA Margin % 15.9% 13.9% 15.7% PBT (before exceptional items) 42 25 30 38% PBT Margin (before exceptional items) 6.6% 4.1% 5.4% Note: Raymond Limited now includes two subsidiaries -1) Aerospace & Defence and 2) Precision Technology & Auto Components. Raymond Limited continued with steady growth momentum in Q1 FY27 , with Total Income of ₹ 628 Cr, reflecting a 13% increase over the previous year. While, the quarterly EBITDA stood at ₹ 100 Cr with an EBITDA margin of 15.9%, an increase of 14% over the previous year. This performance was anchored by the Aerospace & Defense and Precision Technology & Auto Components divisions. In the Aerospace & Defence division, we capitalized on the shift toward domestic production of sophisticated subsystems, securing a high -value p ipeline for global Tier -1 partners. Similarly, the Precision Technology & Auto Components division saw healthy growth in export of critical components for the hybrid sector, ensuring healthy operational momentum across the group Commenting on the performance, Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said; "Q1 FY27 was defined by healthy growth across our core Aerospace, Defence, and Precision Technology segments, maintaining resilience through the quarter. Our strategy remains clear: we are investing in high-moat sectors where our technical expertise provides a competitive edge. Key operational milestones —keeping our state-of-the-art Andhra Pradesh greenfield facility strictly on schedule —demonstrate our expanding capabilities. Our priority is to scale at pace with global demand and capture high-margin opportunities that build long-term shareholder wealth." Q1FY27 Segmental Snapshot REVENUE EBITDA EBITDA % Particulars (₹ Cr.) Q1 FY27 Q1 FY26 YoY Q1 FY27 Q1 FY26 YoY Q1 FY27 Q1 FY26 Precision Technology & Auto Components 444 398 11% 61 42 46% 13.8% 10.6% Aerospace & Defense 123 87 40% 26 21 25% 21.2% 23.7% Others 61 70 12 24 Total 628 555 13% 100 87 14% 15.9% 15.7% Key Highlights: • Total Income at ₹ 628 Cr in Q1 FY27 vs. ₹ 555 Cr in Q1 FY26, 13% Y-o-Y growth • EBITDA at ₹ 100 Cr in Q1 FY27 vs. ₹ 87 Cr in Q1 FY26, 14% Y-o-Y growth • EBITDA Margin at 15.9% in Q1 FY27 vs 15.7% in Q1 FY26 • Continue to be Net Debt free with a net cash surplus of ₹ 129 Cr
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PRESS RELEASE Corporate Office: JEKEGRAM Pokhran Road No. 1, Thane (West) - 400 606, Maharashtra, India. Q1FY27 Segmental Performance Aerospace & Defence Business: Generated ₹ 123 crore in revenue in Q1 FY27, a 40.4% increase over ₹ 87 crore in Q1 FY26. EBITDA grew by 25.4%, reaching ₹ 26 crore in Q1 FY27 compared to ₹ 21 crore in Q1 FY26. EBITDA margins were at 21.2% in Q1 FY27 compared to 23.7% in Q1FY26, this temporary compression was due to targeted R&D investments required to capture revenue expansion; margins will stabilize as programs reach steady-state. Our overall performance was bolstered by increased production for leading global OEMs and product portfolio expansion. Furthermore, easing supply chain headwinds, paired with our expanded capacity, position us for seamless execution against a growing multi-year order book. Precision Technology & Auto Components: Generated ₹ 444 crore in revenue in Q1 FY27, a 11.5% increase from ₹ 398 crore in Q1 FY26. This was primarily driven by a ramp up in our export business, despite geopolitical headwinds, our strategic resilience allowed us to maintain steady growth. EBITDA grew by 45.5%, reaching ₹ 61 crore in Q1 FY27 compared to ₹ 42 crore in Q1 FY26 on account of higher sales and operating leverage. The EBITDA margin stood at 13.8% for the quarter vs. 10.6% in Q1 FY26. This margin expansion was on account of volume growth, an improved product mix, enhanced operating leverage and targeted cost reduction initiatives. We are pursuing a footprint in new global markets and industrial sectors, capitalizing on the 'China Plus One' tailwinds. By combining integration synergies with sharpened operational efficiencies, we are capturing significant business momentum both domestically and globally. Raymond Limited continues to remains net-debt-free, with a net cash surplus of ₹ 129 Cr as of June’26, providing the financial flexibility required to fund future organic and inorganic growth opportunities. About Raymond Limited With the inception in 1925, Raymond Limited has been a pioneer and leader in fabric manufacturing and then forayed in other sectors such as engineering and Real Estate. With the acquisition of Maini Precision Products Limited (MPPL) Raymond’s engineering business has forayed into the sunrise sectors of Aerospace & Defence & EV components and caters to international as well as domestic markets. After demerging its Lifestyle Business and Real Estate verticals into independent listed entities, Raymond Limited now has two core verticals within the Engineering business – Precision Technology & Auto Components and Aerospace & Defence. It serves a global customer base of both B2B and B2C clients across more than 60 countries in Asia-Pacific, Africa, Latin America, Europe, and North America, with exports contributing over 50% to our total business due to our widespread reach and customer-centric approach. Raymond’s engineering business commands a leadership position in manufacturing files and hand tools and has a significant presence in national and international markets. Disclaimer: Certain statements in this document may be forward -looking statements. Such forward -looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Raymond Realty Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. To know more, visit us today at www.raymond.in For further information, please contact: Shalini Singh Corporate Communications Raymond Limited Tel: 022 6152 7624 Email: Shalini.singh@raymond.in