Factory Utilization
>90%
+10pp YoY
Utilization improved from 80-85% to above 90%, driving scale benefits and opex leverage.
RAYMONDLIFESTYLE
Healthcare
07 May 2026
Raymond Lifestyle Ltd — Q4 FY26
Raymond Lifestyle delivered a strong FY26 with total income of ₹7,034 crore (+11% YoY) and EBITDA of ₹804 crore (+23% YoY), marking the highest ever.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Raymond Lifestyle delivered a strong FY26 with total income of ₹7,034 crore (+11% YoY) and EBITDA of ₹804 crore (+23% YoY), marking the highest ever. Q4 saw revenue of ₹1,810 crore (+15% YoY) and EBITDA of ₹152 crore (+53% YoY), with EBITDA margin expanding 210bps QoQ to 8.4%. Growth was driven by robust domestic consumption, premiumization, and scale benefits from factory utilization above 90%. The garmenting segment rebounded sharply (+38% YoY) on US trade deal recovery. Management declared FY27 as a year of consolidation, targeting double-digit topline and bottom-line growth, with net store additions of 30-40 EBOs and working capital days below 70. Key risks include volatile raw material prices (wool, flax) and potential slowdown in discretionary spending due to macroeconomic headwinds.
Key Numbers
Net Working Capital Days
77 days
-10 days YoY
Improved from 87 days to 77 days; targeting below 70 days in FY27.
Net Cash Surplus
₹179 crore
+₹179 crore YoY
Company remains debt-free with a net cash surplus of ₹179 crore.
Garmenting Segment Revenue Growth
₹342 crore
+38% YoY
Q4 revenue grew 38% YoY driven by US trade deal recovery and duty-paid terms.
Management Guidance
Double-digit topline and bottom-line growth in FY27
Management expects both revenue and profit to grow at double-digit rates in the consolidation year.
Management guidance growthNet store additions of 30-40 EBOs in FY27
Gross openings of ~100 stores, but net additions of 30-40 after closures of underperforming stores.
Management guidance expansionWorking capital days below 70 in FY27
Targeting net working capital days to reduce from 77 to below 70 through inventory and receivable management.
Management guidance otherCapex of ~₹180 crore in FY27
Similar to FY26, with maintenance capex and continued investment in SAP and garmenting factory.
Management guidance capexKey Risks
Raw material price inflation (wool, flax)
Wool and flax prices are rising, which could pressure gross margins despite premiumization efforts.
medium · management_commentaryMacroeconomic slowdown impacting discretionary spending
GDP growth estimates are moderating, and consumer sentiment may weaken, affecting branded apparel demand.
medium · management_commentaryGeopolitical risks from US-Iran conflict
Escalation could disrupt trade routes and increase freight costs, impacting garmenting exports.
high · management_commentaryExecution risk in ethnic wear strategy pivot
Management is shifting focus from bridegroom to wedding guests; success depends on product and distribution changes.
medium · analyst_questionNotable Quotes
We crossed 7,000 cr recording our highest ever total income of 7034 crores and 11% year-on-year growth.
Our factory utilizations which traditionally used to be between 80 85% have all gone above 90%.
We are not giving a guidance at this stage. However, our idea is even in the year of consolidation to keep a double digit topline growth and a double digit bottom line growth.
Frequently Asked Questions
What was Raymond Lifestyle's revenue in Q4 FY26?
Raymond Lifestyle reported revenue of ₹1,776 Cr in Q4 FY26, representing a +11% change compared to the same quarter last year.
What guidance did Raymond Lifestyle management give for FY27?
Double-digit topline and bottom-line growth in FY27: Management expects both revenue and profit to grow at double-digit rates in the consolidation year. Net store additions of 30-40 EBOs in FY27: Gross openings of ~100 stores, but net additions of 30-40 after closures of underperforming stores. Working capital days below 70 in FY27: Targeting net working capital days to reduce from 77 to below 70 through inventory and receivable management. Capex of ~₹180 crore in FY27: Similar to FY26, with maintenance capex and continued investment in SAP and garmenting factory.
What are the key risks for Raymond Lifestyle in FY27?
Key risks include Raw material price inflation (wool, flax) — Wool and flax prices are rising, which could pressure gross margins despite premiumization efforts.; Macroeconomic slowdown impacting discretionary spending — GDP growth estimates are moderating, and consumer sentiment may weaken, affecting branded apparel demand.; Geopolitical risks from US-Iran conflict — Escalation could disrupt trade routes and increase freight costs, impacting garmenting exports.; Execution risk in ethnic wear strategy pivot — Management is shifting focus from bridegroom to wedding guests; success depends on product and distribution changes..
Did Raymond Lifestyle meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Raymond Lifestyle Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.