03 February 2022, Mumbai:
Sales of Raymond’s branded textile segment grew by 49 per cent to Rs 899 crore in Q3 FY22 from Rs 603 crore in Q3FY21.
Most of this growth was driven by improved consumer sentiments and strong momentum in secondary sales due to buoyant festive demand, wedding-related purchases and higher footfalls in retail outlets.
The numbers reported by the company is as follows:
1. Online Sales
Sales through online channel = Rs 316 crore in the third quarter of 2022 against Rs 105 crore during the same period last year.
This strong sales growth was witnessed in all trade and retail channels across regions in the branded apparel segment.
EBITDA margin through online channel = Higher by 771 bps (10.7% rise) compared to previous year during the same period.
This margin has been achieved due to better sales and continued operational efficiencies.
2. Garmenting Segment
Sales in garmenting segment = Rs 203 crore in third quarter of 2022 against Rs 137 crore during the same period last year (48% rise).
In Q3 2021, mainly driven by growth in bulk business due to high demand from customers in US, UK & Europe markets.
EBITDA margin in garmenting segment = Higher by 204 bps in the third quarter compared to the previous year.
The EBITDA margin for the quarter improved due to higher utilization levels.
3. High-Value Cotton shirting segment
Sales in High Value Cotton shirting segment
grew by 72 per cent to Rs 148 crore compared to Rs 86 crore in previous year,
This growth is led by higher cotton fabric sales in domestic markets.
The segment reported lower EBITDA margin of 8.6 per cent, impacted due to higher raw material prices.
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*Figures mentioned in the above article have been sorurced from Business Standard article.
