Raymond Limited · NSE:RAYMOND
Raymond — Q4 FY2021 Earnings Presentation
43 slides from Raymond's earnings presentation, May 2021
Slide 1: Raymond Limited Q4FY21 Result Presentation
Raymond Limited Q4FY21 Result Presentation
Slide 2: Disclaimer
Disclaimer • 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 in
Slide 3: Table of Contents
Table of Contents Company Overview 4 Q4 Highlights 9 Financial Highlights 16 Current Status 42 3
Slide 4: Company Overview
sh Company Overview
Slide 5: Raymond Group: Introduction
Raymond Group: Introduction SUITING SHIRTING APPAREL RETAIL PRESENCE GARMENTING ENGINEERING REAL ESTATE DENIM FMCG A diversified group with interests in Textile & Apparel sectors as well as presence across diverse segments such as Real Estate, FMCG, Engineering in national and international markets
Slide 6: Raymond: A Group with Strong Leadership Position
Raymond: A Group with Strong Leadership Position # 1 player in Amongst leading 1st organised retailer Manufacturer of Near 100% worsted suiting men’s tailored suit in India world’s finest fabric consumer awareness fabrics in India manufacturers in the world One of the world’s One of the largest Larg
Slide 7: Raymond Group at a Glance
Raymond Group at a Glance Segments Branded Textile Promoter Made to Measure Suiting B2C Shirting Group (MTM) Branded Apparel Raymond Apparel (100%) 49% Garmenting Everblue Apparel Silver Spark (100%) Apparel (100%) Ethiopia *(100%) High Value Cotton Shirting Public Raymond Luxury Cotton (75.7%) Tool
Slide 8: Management Team
Management Team Amit Agarwal Joe Kuruvilla S L Pokharna K A Narayan Group CFO CEO – Lifestyle President – President – Ex- JSW, Jet Airways, Ex- Uniliver PLC Commercial Human Resources Essar Group Ex- Wockhardt Ganesh Kumar Hemant Lakhotia Balasubramanian V COO – Lifestyle CEO – Tools & Hardware CEO
Slide 9: Q4 Highlights
sh Q4 Highlights
Slide 10: Market Update
Market Update Sequential improvement in recovery in Q4FY21 • Market sentiments improved with recovery in the economy, job market stabilizing and on- going vaccination drive • Consumer sentiments were upbeat in Jan & Feb due to extended EOSS, driving footfalls • Trade channels witnessed pickup in sal
Slide 11: FY21 Highlights
FY21 Highlights Cost Rationalisation • Sales & marketing, manpower & Liquidity Management rentals • Focus on collections and inventory • Restructuring organization to reduction ensure efficiencies • Rationalize capex New Business opportunities Digital Imperatives Raymond Care Initiative • Expand Onl
Slide 12: Cost rationalisation
Cost rationalisation Particulars (Rs Cr) Q4FY21 Q4FY20 FY21 FY20 Q4 (Y-o-Y %) 12m (Y-o-Y %) Employment Cost 180 234 674 996 -23% -32% A & SP 25 47 59 240 -47% -75% Others* 203 270 588 971 -25% -39% Total Opex 408 551 1,320 2,207 -26% -40% Continued focus on Cost Rationalisation o Control in fixed
Slide 13: Liquidity strengthens and Debt reduction in Q4
Liquidity strengthens and Debt reduction in Q4 Net Working Capital reduction vs Mar-20 driven by strong focus on collections & inventory reduction Particulars (Rs Cr) Mar'21 Dec'20 Mar'20 vs. Dec-20 vs. Mar-20 Net Working Capital 1,117 1,190 1,855 (73) (738) Liquidity position strengthened compa
Slide 14: Digital Imperatives: The new norm of business
Digital Imperatives: The new norm of business Digital Order Booking Strengthening 3rd party tie-up • Moving from physical • Aggressive play on tradeshows to digital rendering e-commerce marketplaces of samples & 3D modelling with over 2x more options • Shifting to digital swatch books, made availabl
Slide 15: Stores 2.0 – Reassuring customers & incentivizing them
Stores 2.0 – Reassuring customers & incentivizing them Video campaign focusing on Pre-booking offer Store opening communication customer advocacy Videos shared through LinkedIn and PAN India, through Member SMS, Facebook, Direct SMS with video link Facebook pages Twitter, Instagram Concierge service
Slide 16: Financial Highlights
Financial Highlights 16
Slide 17: Consolidated Results – Q4 and FY21
Consolidated Results – Q4 and FY21 Particulars (INR Cr) Q4FY21 Q3 FY21 Q4FY20 FY21 FY20 Net Revenue 1,407 1,286 1,291 3,648 6,578 Opex 408 334 551 1,320 2,207 EBITDA 197 157 5 135 612 EBITDA margin 14.0% 12.2% 0.4% 3.7% 9.3% PBT 65 12 (152) (455) (31) Taxes (19) (1) 56 161 43 Associate / JV / Minori
Slide 18: Segment Results – Q4FY21
Segment Results – Q4FY21 Post Ind AS 116 Revenue EBITDA EBITDA % Particulars (INR Cr) Q4FY21 Q4FY20 Y-o-Y% Q4FY21 Q4FY20 Q4FY21 Q4FY20 Branded Textile 722 582 24% 163 98 22.6% 16.8% Branded Apparel 175 289 -40% -19 -88 -10.7% -30.5% Garmenting 126 181 -31% -3 7 -2.3% 4.0% High Value Cotton Shirting
Slide 19: Segment Results – FY21
Segment Results – FY21 Post Ind AS 116 Revenue EBITDA Particulars (INR Cr) FY21 FY20 FY21 FY20 Branded Textile 1,572 2,917 164 435 Branded Apparel 457 1,619 -125 29 Garmenting 549 843 19 33 High Value Cotton Shirting 258 622 4 85 Tools and Hardware 344 376 45 39 Auto Component 197 208 38 35 Real Est
Slide 20: Balance Sheet & Performance Indicators
Balance Sheet & Performance Indicators Particulars Mar'21 Dec'20 Mar'20 Net Worth (Rs Cr) 2,179 2,109 2,464 Net Debt (Rs Cr) 1,416 1,583 1,859 Net Debt / Equity (X) 0.65 0.75 0.75 Cash flow for FY21: • Operating cash flow at Rs 702 Cr • Free Cash Flow at Rs 417 Cr Liquidity position strengthened & N
Slide 21: Branded Textile
Branded Textile
Slide 22: Branded Textile
Branded Textile Particulars (Rs Cr) Q4FY21 Q4FY20 % Var. FY21 FY20 % Var. Net Sales 722 582 24% 1,572 2,917 -46% EBITDA 163 98 164 435 EBITDA margin 22.6% 16.8% 10.4% 14.9% Q4FY21 Branded Textile topline growth driven by higher sales in the trade channels due to higher number of wedding dates fore
Slide 23: Branded Apparel
we SaaS PARK AVENUE Branded Apparel
Slide 24: Branded Apparel
Branded Apparel Particulars (Rs Cr) Q4FY21 Q4FY20 % Var. FY21 FY20 % Var. Net Sales 175 289 -40% 457 1,619 -72% EBITDA -19 -88 -125 29 EBITDA margin -10.7% -30.5% -27.4% 1.8% Q4FY21 Branded Apparel witnessed recovery in Q4 at 60% of PY levels o Performance lower due to continued control on primary
Slide 25: Retail Network
Retail Network A Nie ial } | iy a a A\\\) Tl ay | t
Slide 26: Exclusive Retail Network & Current Status
Exclusive Retail Network & Current Status 2.46 mn sq ft 2.39 mn sq ft 1,559 1,486 EBO 381 349 MTM 51 47 TRS 1,127 1,090 Dec’20 Mar’21 Q4 FY21 Opened 7 stores during the quarter mainly in Tier III – VI towns Additionally, store rationalisation in progress to make the retail (mainly EBO) portfolio
Slide 27: Strong Distribution Network
Strong Distribution Network 5 Branded Textile 47 6 • 20,000+ points of sale across 12 30 600+ cities and towns 38 49 2 • 180+ Wholesalers 2 • 1,360+ MBOs 68 162 • Across TRS - Tier I to VI towns 11 1 86 1 87 71 31 81 1 Branded Apparel 22 24 • Presence in 500+ cities & towns 211 • 349 EBOs 74 • 5,425
Slide 28: Garmenting
Garmenting
Slide 29: Garmenting
Garmenting Particulars (Rs Cr) Q4FY21 Q4FY20 % Var. FY21 FY20 % Var. Net Sales 126 181 -31% 549 843 -35% EBITDA -3 7 19 33 EBITDA margin -2.3% 4.0% 3.5% 3.9% Q4FY21 Topline contribution mainly from recovery in Bulk business with gradual opening up of global markets EBITDA margin impacted due to
Slide 30: High Value Cotton Shirting
High Value Cotton Shirting
Slide 31: High Value Cotton Shirting
High Value Cotton Shirting Particulars (Rs Cr) Q4FY21 Q4FY20 % Var. FY21 FY20 % Var. Net Sales 133 119 12% 258 622 -59% EBITDA 20 8 4 85 EBITDA margin 14.7% 7.0% 1.6% 13.7% Q4FY21 Growth mainly driven by improvement in domestic fabric category and well supported by yarn sales EBITDA margin impro
Slide 32: Tools & Hardware, Auto Components
Tools & Hardware Auto Components
Slide 33: Tools and Hardware
Tools and Hardware Particulars (Rs Cr) Q4FY21 Q4FY20 % Var. FY21 FY20 % Var. Net Sales 120 79 53% 344 376 -8% EBITDA 22 4 45 39 EBITDA margin 18.5% 4.6% 13.0% 10.3% Q4FY21 Topline driven by growth across product categories in domestic markets and well support by exports in key markets of LATAM, Eu
Slide 34: Auto Components
Auto Components Particulars (Rs Cr) Q4FY21 Q4FY20 % Var. FY21 FY20 % Var. Net Sales 69 47 46% 197 208 -5% EBITDA 15 8 38 35 EBITDA margin 21.3% 16.4% 19.3% 16.9% Q4FY21 Topline led by strong growth in domestic as well as exports market EBITDA margin improvement led by improved product mix and op
Slide 35: Raymond Realty
Raymono | REALTY Go Beyond .@ B. gir aymoria
Slide 36: Raymond Realty – Go Beyond
Raymond Realty – Go Beyond Raymond’s maiden venture into Real Estate Overall 20 acres of residential development Project − Phase 1: ~14 acre of development Phase 1 - Project Total 10 towers with ~2.8 mn sq.ft of saleable area Details Total units planned for sale: 3,120 | 2BHK: 2,466; 1BHK: 654
Slide 37: Construction Update – Current Status
Construction Update – Current Status Tower 1, 2 & 3: 38th floor slab completed and Tower 4: 20th floor work in progress Tower 5, 6, 7 & 8 – Ground floor and 1st floor slab work in progress Tower 9: Excavation complete and Tower 10: Excavation work in progress 37
Slide 38: Financial Update – KPI's
Financial Update – KPI’s KPI's FY 20 Q4FY21 FY21 Till Mar-21 Bookings: No. of bookings 932 214 455 1,387 Area (mn sq. ft.) 0.8 0.2 0.38 1.18 Value of Bookings (Rs Cr) 925 203 399 1,324 Customers Collection (Rs Cr) 221 117 260 481 P&L Snapshot Particulars (Rs Cr) FY20 Q4FY21 FY21 Revenue* 176 54 141
Slide 39: Excellent Connectivity & Eco-system
Excellent Connectivity & Eco-system 39
Slide 40: Co-Creators
Co- Creators Master Architect Structural Consultant Interior Designer Construction Contractor Landscape Green Consultant 40
Slide 41: Current Status
Current Status 41
Slide 42: Current Status of Operations
Current Status of Operations • Consumer sentiments are impacted due to the resurgence of Covid-19 pandemic and related imposition of local lockdowns, weekend curfews, store timing restrictions & night curfews, impacting our retail store operations • Raymond launched wedding campaign in April support
Slide 43: Thank You
nh Raymond Thank You www.raymond.in