In the last two years, the iconic textile brand’s owner has managed to steer the company clear of a precipice. Do his growth bets now pose a threat to its dream run?
Two years ago, Raymond resembled an overloaded truck hurtling down a hill. We had then said that India’s best-known textile brand was “in the most precarious position it has ever been in its 96-year history”. Today, it looks more like a sleek car that its chairman and managing director Gautam Singhania is often seen driving.
The numbers bear this out. In the financial year 2022-23, Raymond’s revenue grew 31% over the previous year to Rs 8,337 crore and its net profit came in at Rs 529 crore, a jump of 103%. The stock too has done well and is, …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai