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RESULTS PRESENTATION Q3FY26 & 9MFY26 JANUARY 27, 2026
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01 03 02 04 05 2 Highlights Financial Performance Segment Performance Raymond Lifestyle – 2.0 Leadership & Management Team Table of Contents 03-07 08-11 12-35 36-40 41-43
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3 HIGHLIGHTS
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4 Q3FY26 - Performance Snapshot Note: Data as of December’25 OPERATING HIGHLIGHTS NET DEBT ₹ 15 Cr. STORE COUNT 1,675 Strong Domestic growth drives solid performance despite weak global demand Q3FY26 9MFY26 TOTAL INCOME EBITDA PBT ₹ 1,883 Cr. 5% FINANCIAL PERFORMANCE ₹ 5,223 Cr. 9% ₹ 271 Cr. 23% ₹ 652 Cr. 18% ₹ 118 Cr. 36% ₹ 201 Cr. 20% Margin 14.4% Margin 12.5% Margin 6.3% Margin 3.9% 22 (YoY) 1,653 Stores (Dec’24) 12 (QoQ) 1,663 Stores (Sep’25) YoY YoY YoY YoY YoY YoY
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5 Q3FY26 Reflection • Despite festive season tailwinds, discretionary spending remained uneven across categories • Likely hike in standard deduction may ease tax burden and support urban consumption. • India is preparing for a major overhaul of its import tariff regime in the upcoming Union Budget 2026–27, with a focus on rationalization, simplification, and boosting export competitiveness • Conflicts in the Middle East and Eastern Europe sustained pressure on oil prices and global supply chains ECONOMY UPDATES MARKET UPDATES
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221 259 271 12.3% 13.9% 14.4% 11. 0% 11. 5% 12. 0% 12. 5% 13. 0% 13. 5% 14. 0% 14. 5% 15. 0% 0 50 100 150 200 250 300 Q3 FY25 Q2 FY26 Q3 FY26 Y-o-Y Growth 23% 1,796 1,865 1,883 Q3 FY25 Q2 FY26 Q3 FY26 6 • Records highest ever Q3 revenue on the back of solid domestic performance, led by strong volume growth in Branded Textile & Branded Apparel, amidst continued international headwinds • Garmenting & B2B export revenue continues to be impacted predominantly due to US tariff uncertainty leading to weaker order book • EBITDA up by 23% on account of volume increase, improved product mix and better operating leverage despite consciously increasing advertising expenditure • Retail network optimized: 21 new stores opened, and 9 low-performing stores exited during the quarter TOTAL INCOME EBITDA & MARGINS (%) PBT & MARGINS (%) Q3FY26 Performance Highlights (₹ Cr.) (₹ Cr.) (₹ Cr.) Y-o-Y Growth 5% 87 108 118 4.9% 5.8% 6.3% 0. 0% 1. 0% 2. 0% 3. 0% 4. 0% 5. 0% 6. 0% 7. 0% 0 20 40 60 80 100 120 140 Q3 FY25 Q2 FY26 Q3 FY26
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No. of Days 1,702 1,4701,553 Dec'25Mar'25Dec'24 7 Q3FY26 and 9MFY26 Performance Highlights • NWC stood at 94 days in Dec’25 v/s 89 days in Dec’24, mainly due to inventory build up in the expanded retail, distribution network and lower sales in our garmenting business. Net Working Capital* * NWC Days calculated based on Trailing Twelve Month Revenue (₹ Cr.) 89 87 94
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8 FINANCIAL PERFORMANCE
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9 Q3FY26 Performance Highlights Consolidated Performance Particulars (₹ Cr.) Q3 FY26 Q2 FY26 Q3 FY25 YoY 9M FY26 9M FY25 YoY Total Income 1,883 1,865 1,796 5% 5,223 4,780 9% Expenses 1,612 1,606 1,575 4,572 4,228 EBITDA 271 259 221 23% 652 552 18% EBITDA Margin % 14.4% 13.9% 12.3% 12.5% 11.6% Depreciation 92 91 79 273 230 Interest Expense 60 60 54 178 154 PBT 118 108 87 36% 201 168 20% PBT margin % 6.3% 5.8% 4.9% 3.9% 3.5% Taxes (19) (29) (23) (41) (24) Net Profit 100 79 65 54% 160 143 11% Exceptional Items (57) (5) (0) (62) (60) Net Profit Post Exception 43 74 64 (33%) 98 83 18% # On account of one-time impact due to the implementation of the New Labour Code standards #
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10 Segment Performance Quarterly # Others includes unallocated expenses, elimination and other income Post IndAS 116 Particulars (₹ Cr.) Q3 FY26 Q3 FY25 YoY Q3 FY26 Q3 FY25 YoY Q3 FY26 Q3 FY25 Branded Textile 951 856 11% 207 154 35% 21.8% 18.0% Branded Apparel 482 458 5% 35 44 (20%) 7.3% 9.6% Garmenting 258 309 (17%) 11 24 (55%) 4.2% 7.8% High Value Cotton Shirting 205 201 2% 23 21 9% 11.1% 10.3% Others# (12) (28) (5) (21) Raymond Lifestyle Consolidated 1,883 1,796 5% 271 221 23% 14.4% 12.3% TOTAL INCOME EBITDA EBITDA %
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11 Segment Performance Nine Months # Others includes unallocated expenses, elimination and other income Post IndAS 116 Particulars (₹ Cr.) 9M FY26 9M FY25 YoY 9M FY26 9M FY25 YoY 9M FY26 9M FY25 Branded Textile 2,604 2,275 14% 498 369 35% 19.1% 16.2% Branded Apparel 1,342 1,202 12% 79 116 (32%) 5.9% 9.7% Garmenting 724 820 (12%) 18 58 (69%) 2.4% 7.0% High Value Cotton Shirting 621 615 1% 67 53 26% 10.8% 8.6% Others# (68) (132) (10) (44) Raymond Lifestyle Consolidated 5,223 4,780 9% 652 552 18% 12.5% 11.6% TOTAL INCOME EBITDA EBITDA %
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12 SEGMENT PERFORMANCE
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13 Branded Textile
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14 Branded Textile REVENUE Robust volume growth due to a strong wedding & festive season resulting in strong bookings as compared to the previous year EBITDA Margin expansion of ~380 bps Y-o-Y on account of improved product mix and scale leverage Particulars (₹ Cr.) Q3 FY26 Q2 FY26 Q3 FY25 YoY 9M FY26 9M FY25 YoY Revenue 951 937 856 11% 2,604 2,275 14% EBITDA 207 188 154 35% 498 369 35% EBITDA margin 21.8% 20.0% 18.0% 19.1% 16.2%
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Suiting: New Product Launches 15
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Suiting: New Product Launches Premiummulti-directional stretchfabric designedformaximumcomfort. 16
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Suiting: New Product Launches Timelesselegancemeetsmoderncraftsmanshipfeaturingpremiumjacketingfabric wovenfroma luxuriousblend of wool,silk,andlinendesignedto offeryear-round comfortandrefinedstyle. 17
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Shirting: New Product Launches Linovate Stay effortlessly cool and stylish in the scorching summer with our lightweight, breathable linen jackets — crafted for comfort, elegance, and all- day freshness." Regio Italia ▪ Silk C cotton printed shirting fabrics ▪ Superfine cotton creaseless formal shirting ▪ Fine linen for breathable sophistication ▪ Introduction of embroidery on fine silk for a touch of artisanal luxury. 18
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19 Branded Apparel
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20 Branded Apparel REVENUE Growth was witnessed across all brands and key channels such as LFS, EBO’s, MBO’s and online. EBITDA Impacted due to increased marketing spends and lower sales achieved in new stores which were opened in the last 12 months. Particulars (₹ Cr.) Q3 FY26 Q2 FY26 Q3 FY25 YoY 9M FY26 9M FY25 YoY Revenue 482 491 458 5% 1,342 1,202 12% EBITDA 35 25 44 (20%) 79 116 (32%) EBITDA margin 7.3% 5.2% 9.6% 5.9% 9.7%
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Branded Apparel: New Product Launches 21
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Branded Apparel: New Product Launches 22
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Park Avenue: New Product Launches 23
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24 Exclusive Retail Network Exclusive Outlets & Brands Continuing expansion of retail footprint 1,653 1,663 1,675 Total Stores 1,114 1,110 1,095 50 50 51 511 503 507 Dec'25 Sep'25 Dec'24 TRS MTM EBO
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25 Ethnix by Raymond
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26 Our Ethnix Portfolio • Opened 3 stores & closed 1 store in Q3FY26 taking the tally to 141 stores • Smart Ethnix collection – an eclectic design code, defining an array of fusion silhouettes of Short Kurtas, Bundi and Trousers WEDDING COLLECTION FESTIVE COLLECTION SMART ETHNIX
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27 Garmenting
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28 REVENUE Impacted on account of US tariff uncertainty and weak order book. EBITDA Impacted on account of scale deleverage We are reducing US dependency by diversifying into the UK via duty-free trade agreements Garmenting Particulars (₹ Cr.) Q3 FY26 Q2 FY26 Q3 FY25 YoY 9M FY26 9M FY25 YoY Revenue 258 269 309 (17%) 724 820 (12%) EBITDA 11 15 24 18 58 (69%) EBITDA margin 4.2% 5.4% 7.8% 2.4% 7.0%
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29 High Value Cotton Shirting
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30 High Value Cotton Shirting REVENUE Subdued demand from our B2B customers. EBITDA Growth predominantly on account of improved product mix Particulars (₹ Cr.) Q3 FY26 Q2 FY26 Q3 FY25 YoY 9M FY26 9M FY25 YoY Revenue 205 212 201 2% 621 615 1% EBITDA 23 25 21 9% 67 53 26% EBITDA margin 11.1% 11.8% 10.3% 10.8% 8.6%
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31 Well Defined ESG Goals 15% Reduction in Scope 1 & 2 GHG Emissions by 2030 25% Renewable Energy Target by 2030 ZERO Waste to landfill by 2030 ZERO* Liquid Discharge (ZLD) by 2030 Single-Digit Employee Turnover Rate ZERO Fatalities in Workplace Safety 40% Female representation target by 2030 100% Independent Directors on all Board Committees ENVIRONMENT (E) SOCIAL (S) GOVERNANCE (G) Note: Data as per the Business Responsibility and Sustainability Report (BRSR) for FY 2024-25; * At Chhindwara
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32 Q2FY26 Performance “Our quarterly performance reflects encouraging momentum driven by a strong domestic demand across core lifestyle categories. Even as we navigate global macroeconomic headwinds, we remain focused on agility and strategic foresight— closely tracking opportunities from the UK-India Free Trade Agreement and potential risks from US tariff changes. This disciplined approach ensures we continue creating enduring value for all stakeholders” GAUTAM HARI SINGHANIA Executive Chairman
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33 FY26 Way Forward Festive season likely to drive strong bookings in Branded Textiles; expecting robust volume growth Continue increased marketing spends during festive season for improved brand visibility Improving order book in Garmenting business in H2; focus on lowering customer concentration risks Focus on profitability improvements led by operating leverage and enhancing efficiencies Calibrated approach on opening of new stores: through FOFO route and marquee locations
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34 RAYMOND LIFESTYLE - 2.0
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35 Vision Tobe the leading FASHION & LIFESTYLE company with loved brands, fashion first approach and a delightful consumer experience to deliver superior stakeholder value.
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36 Values TRUST • We are one of India’s most trusted brands with near 100% awareness. • We will continue to strengthen our stakeholder relationships built over 100 years. QUALITY We are recognized for our high-quality product offerings and there will be no compromise on delivering consistent highest quality standards. INNOVATION • We have been crafting world-class product offerings over the years. • We will invest behind product and process innovation to drive disruptive growth. CONSUMER DELIGHT Consumers delight is the heart of everything that we do and we strive to continuously excel in it through our products and service. CARE • Our People are our biggest strength and we nurture and invest in our talent. • We care for our planet and we will work towards this with responsibility and purpose.
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37 STRENGTHEN THE “CORE” Branded Textile ACCELERATE THE “GROWTH” Branded Apparel & Garmenting BUILD THE “NEW CATEGORIES” • Ethnic Wear• Inner Wear• Sleep Wear Strategic Approach
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2.0 38 Garmenting: Capitalize on China+1 and FTA New Growth Vectors: Ethnic, Sleepwear and Innerwear Retail Expansion India’s Largest Wedding & Ceremonial Attire Brand1 2 34 Growth Drivers Raymond Lifestyle - 2.0 RAYMOND- THE COMPLETE MAN
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39 LEADERSHIP & MANAGEMENT TEAM
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40 Strong Governance with High Pedigree Board Members K. NARASIMHA MURTHY Independent Director Ex- Director NSE, ONGC, LIC & UTI ANISHA MOTWANI Independent Director StrategicAdvisor, World Bank GAUTAM HARI SINGHANIA Executive Chairman VINEET NAYAR Independent Director Ex- CEO HCL DINESH LAL Independent Director Over 50 years of diverse industry experience GIRISH C. CHATURVEDI Independent Director Ex- ChairmanICICI, NSE & PFRDA RAJIV SHARMA Independent Director Ex- CEO COATS S L POKHARNA Non-Executive Director Over 45 years of deep industry experience
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41 Led by Experienced Management Team MANISH BHARATI Chief Business Officer (Garmenting & IB) ANUPAM DIKSHIT Chief Business Officer (Shirting) VIPUL MATHUR Chief Business Officer (Home & Ethnix) NEERAJ NAGPAL Chief Business Officer (Apparel, MTM & TRS) DEBDEEP SINHA Chief Business Officer (Sleepz & IW) VIKRAM MAHALDAR Chief Business Officer (Suiting) MLN PATNAIK Chief HR Officer RAVI HUDDA CDO, Lifestyle & Group CIO SATYAKI GHOSH Chief Executive Officer E C PRASAD Chief Financial Officer
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42 The particulars of this presentation contain statements related but not limited to revenues, financial results and supplemental financial information which has been compiled by the management, not to be construed as being provided under any legal or regulatory requirement and are not intended to invite any investment in the Company. The information contained in this presentation has not been subjected to review by Auditors or the Board of Directors of the Company. Commentary in the presentation describes the reporting quarter’s performance versus the same quarter of the corresponding previous year, unless specified otherwise. The figures for the previous periods in this presentation have been regrouped/ reclassified, wherever necessary. The Company assumes no responsibility and does not provide any warranty to the accuracy or comprehensivenessof the information contained in this presentation. This presentation is not intended to be a “prospectus” (as defined under the Companies Act, 2013), SEBI Regulations and relevant provisions of applicable laws. This presentation is for information purposes only and does not constitute or form part of and should not be considered as any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscription of securities in any manner. No part of this presentation and the information contained herein should form the basis of, or be relied upon, in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. Statements in this presentation describing the Company’s objectives, projections, estimates, expectations or predictions may constitute “forward looking statements”. Such statements are based on the current expectations and certain assumptions of the Company's Management, and are, therefore, subject to risks and uncertainties. Actual results may differ materially from those expressed or implied. The Company neither intends, nor assumes any obligation to amend, modify, revise or update these forward-looking statements, on the basis of any subsequent developments which differ from those anticipated. Disclaimer
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Thank You REACH US : RLL. IR@Raymond. in