Raymond Lifestyle LimitedQ1 FY27 Results & Financial Update
Raymond Lifestyle Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,515.51 Cr, PAT ₹-22.59 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Raymond Lifestyle Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Earnings before interest, tax, depreciation, and amortisation expanded by 11% year-on-year to ₹135 crore, lifting the EBITDA margin by 40 basis points to 8.6% from 8.2% in Q1 FY26.
The top-line expansion was spearheaded by stellar order execution in the garmenting segment following US-India tariff rationalisation and the implementation of the UK free trade agreement, alongside double-digit growth in casual apparel brands.
Conversely, the core Branded Textile and High Value Cotton Shirting segments experienced modest top-line contraction due to a demanding base effect from the previous year.
Net working capital efficiency improved notably, bringing down net working capital days to 75 days as of June 30, 2026, compared to 90 days in the year-ago period.
The company maintained a debt-free status on a consolidated basis, closing the quarter with a net cash surplus of ₹154 crore, contrasting with a net debt position of ₹55 crore a year earlier.
01 · Business model
What does Raymond Lifestyle do?
Raymond Lifestyle Limited operates as an integrated manufacturer and retailer spanning worsted suiting fabrics, shirting, branded ready-made garments, and garmenting for international menswear labels.
The company's diverse brand portfolio covers formal, ceremonial, and casual segments through established names such as Park Avenue, ColorPlus, Parx, Raymond Made to Measure, Raymond Ready to Wear, and Ethnix by Raymond.
Its distribution infrastructure includes a proprietary retail footprint across exclusive brand outlets in cities and towns throughout India, supplemented by large-format stores, online channels, and B2B export partnerships.
The economic model balances traditional asset-heavy manufacturing in textiles and garmenting with capital-light retail network optimization and tactical brand investments in emerging lifestyle categories.
02 · Historical context
What shaped the business before this quarter
Raymond Consumer Care Limited was subsequently renamed Raymond Lifestyle Limited, completing organizational realignment and demerger milestones leading into public listing.
During the previous financial year ended March 31, 2026, the company recorded exceptional items including inventory write-downs and statutory impacts from the four New Labour Codes.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,515.51 Cr |
| Total income | ₹1,560.27 Cr |
| Profit before tax | ₹-38.33 Cr |
| Profit after tax | ₹-22.59 Cr |
| EPS | ₹-3.71 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Garmenting segment revenue jumped 50% year-on-year to ₹296 crore in Q1 FY27 from ₹197 crore in Q1 FY26, driven by order book execution under US-India tariff rationalisation and new global client onboarding.
Branded apparel segment revenue grew 4% year-on-year to ₹349 crore, with casualwear brands achieving double-digit growth rates alongside strong traction in large-format stores and online channels.
Emerging business revenue, comprising Ethnix by Raymond, Raymond Home, Park Avenue Innerwear, Chairman’s Collections, and Sexual Wellness, rose 9% year-on-year to ₹79 crore.
Branded Textile revenue moderated to ₹684 crore versus ₹699 crore in Q1 FY26, while High Value Cotton Shirting revenue came in at ₹195 crore compared to ₹205 crore due to high base comparables.
What drove margins
Consolidated EBITDA margin improved by 40 basis points year-on-year to 8.6% in Q1 FY27, supported by product mix resilience despite inflationary pressures on raw material costs.
Branded Textile segment EBITDA margin contracted to 13.9% from 15.3% in Q1 FY26 due to scale deleverage from lower top-line volume.
Branded Apparel EBITDA margin declined to 5.1% from 7.8% in Q1 FY26, pressured by an adverse channel mix despite robust growth in online and large-format retail.
Garmenting segment EBITDA swung to positive ₹22 crore with a 7.3% margin, recovering from an EBITDA loss of ₹8 crore in Q1 FY26.
05 · Demand, customers & order book
Where demand is coming from
The garmenting division expanded its order book through the onboarding of new global clients in international menswear.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
During the quarter, the Chief Operating Decision Maker revised the manner in which operations are monitored, prompting a redefinition of operating and reportable segments with prior periods restated accordingly.
Branded fabric segment revenue registered ₹684 crore with segment results of ₹33.14 crore for Q1 FY27.
Shirting fabric B2B segment generated revenue of ₹195.24 crore with segment results of ₹8.80 crore.
Garmenting segment recorded revenue of ₹295.53 crore with positive segment results of ₹13.84 crore, reversing a segment loss from the prior year.
07 · Strategy & new businesses
How the company is trying to change its growth mix
Management continued its tactical investment strategy in emerging business lines such as Ethnix by Raymond and Raymond Home to build long-term growth platforms.
08 · Reported developments
What changed operationally
Garmenting segment achieved 50% year-on-year revenue growth underpinned by international trade agreements and new client additions.
Casualwear brands, large-format stores, and online retail channels all delivered high double-digit growth rates during the quarter.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net working capital days improved to 75 days in Q1 FY27 compared to 90 days in Q1 FY26, reflecting enhanced inventory and receivable management.
Capital allocation & funding
The company maintained a debt-free consolidated balance sheet with a net cash surplus of ₹154 crore as of June 30, 2026, compared to a net debt of ₹55 crore as of June 30, 2025.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Retail Store Network Optimization
The exclusive retail store count stood at 1,627 stores across 600 cities and towns as of June 30, 2026, compared to 1,675 stores a year earlier, as part of ongoing network optimization and store maturity evaluations.
Reported update
ESG Roadmap Targets
Management reaffirmed sustainability targets for 2030, aiming for 40% female representation, zero liquid discharge, zero waste to land-fill, a 25% transition to renewable energy, and a 15% reduction in Scope 1 and Scope 2 emissions.
11 · Key Q&A
The quarter, answered directly
What does Raymond Lifestyle do?
Raymond Lifestyle Limited operates as an integrated manufacturer and retailer spanning worsted suiting fabrics, shirting, branded ready-made garments, and garmenting for international menswear labels.
What is the clearest takeaway from Q1 FY27?
Earnings before interest, tax, depreciation, and amortisation expanded by 11% year-on-year to ₹135 crore, lifting the EBITDA margin by 40 basis points to 8.6% from 8.2% in Q1 FY26.
What drove revenue or demand?
Garmenting segment revenue jumped 50% year-on-year to ₹296 crore in Q1 FY27 from ₹197 crore in Q1 FY26, driven by order book execution under US-India tariff rationalisation and new global client onboarding.
What mattered most for margins or profitability?
Consolidated EBITDA margin improved by 40 basis points year-on-year to 8.6% in Q1 FY27, supported by product mix resilience despite inflationary pressures on raw material costs.
What changed operationally beyond the headline numbers?
Management continued its tactical investment strategy in emerging business lines such as Ethnix by Raymond and Raymond Home to build long-term growth platforms.
What should the next disclosure help confirm?
Monitor store count adjustments and productivity metrics across the 1,627-store exclusive retail network.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Retail Footprint Productivity: Monitor store count adjustments and productivity metrics across the 1,627-store exclusive retail network.
- 02
Garmenting Order Book Execution: Track export execution and delivery milestones under US tariff adjustments and UK/EU trade agreements.
- 03
Emerging Business Scaling: Observe revenue expansion and margin profiles in emerging segments such as Ethnix by Raymond and innerwear.
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