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Raymond

NSEI:RAYMOND
Snowflake Description

Proven track record unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RAYMOND
NSEI
₹43B
Market Cap
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Last updated 2019/02/15 12:52
Company description

Raymond Limited operates as a textile, lifestyle, and branded apparel company in India and internationally. The last earnings update was 23 days ago. More info.

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RAYMOND Share Price and Events
7 Day Returns
2.5%
NSEI:RAYMOND
-1.3%
IN Luxury
-3.1%
IN Market
1 Year Returns
-24.2%
NSEI:RAYMOND
-8.5%
IN Luxury
-9.2%
IN Market
RAYMOND Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Raymond (RAYMOND) 2.5% -13.6% -9% -24.2% 73.1% 151.5%
IN Luxury -1.3% -0.8% -1.2% -8.5% 51.9% 196.8%
IN Market -3.1% -3.8% -2.9% -9.2% 43.1% 83.1%
1 Year Return vs Industry and Market
  • RAYMOND underperformed the Luxury industry which returned -8.5% over the past year.
  • RAYMOND underperformed the Market in India which returned -9.2% over the past year.
Price Volatility
RAYMOND
Industry
5yr Volatility vs Market

RAYMOND Value

 Is Raymond undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Raymond to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Raymond.

NSEI:RAYMOND Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.5%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:RAYMOND
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 7.5%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.58
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.575 (1 + (1- 35%) (52.28%)) 		0.771
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.8 * 7.45%) 		13.51%

Discounted Cash Flow Calculation for NSEI:RAYMOND using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Raymond is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:RAYMOND DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (INR, Millions) -1,210.00 169.50 812.00 856.32 903.06
Source Analyst x1 Analyst x2 Analyst x1 Est @ 5.46% Est @ 5.46%
Present Value
Discounted (@ 13.51%) 		-1,065.99 131.55 555.21 515.82 479.23
Present value of next 5 years cash flows ₹615.83
NSEI:RAYMOND DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ₹903.06 × (1 + 7.55%) ÷ (13.51% – 7.55%) 		₹16,296.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ₹16,296.07 ÷ (1 + 13.51%)5 		₹8,647.93
NSEI:RAYMOND Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ₹615.83 + ₹8,647.93 		₹9,263.76
Equity Value per Share
(INR)		 = Total value / Shares Outstanding
= ₹9,263.76 / 61.38 		₹154.86
NSEI:RAYMOND Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:RAYMOND represents 1.02607x of BSE:500330
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		1.02607x
Value per Share
(Listing Adjusted, INR)		 = Value per Share (INR) x Listing Adjustment Factor
= ₹ 150.92 x 1.02607 		₹154.86
Value per share (INR) From above. ₹154.86
Current discount Discount to share price of ₹704.55
= -1 x (₹704.55 - ₹154.86) / ₹154.86 		-355%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Raymond is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Raymond's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Raymond's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:RAYMOND PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹25.02
BSE:500330 Share Price ** BSE (2019-02-14) in INR ₹686.65
India Luxury Industry PE Ratio Median Figure of 237 Publicly-Listed Luxury Companies 11.67x
India Market PE Ratio Median Figure of 2,734 Publicly-Listed Companies 15.39x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Raymond.

NSEI:RAYMOND PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:500330 Share Price ÷ EPS (both in INR)

= 686.65 ÷ 25.02

 27.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Raymond is overvalued based on earnings compared to the IN Luxury industry average.
  • Raymond is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Raymond's expected growth come at a high price?
Raw Data
NSEI:RAYMOND PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts		 10.4%per year
India Luxury Industry PEG Ratio Median Figure of 28 Publicly-Listed Luxury Companies 1.11x
India Market PEG Ratio Median Figure of 608 Publicly-Listed Companies 1.1x

*Line of best fit is calculated by linear regression .

NSEI:RAYMOND PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.44x ÷ 10.4%

 2.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Raymond is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Raymond's assets?
Raw Data
NSEI:RAYMOND PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹298.48
BSE:500330 Share Price * BSE (2019-02-14) in INR ₹686.65
India Luxury Industry PB Ratio Median Figure of 307 Publicly-Listed Luxury Companies 0.71x
India Market PB Ratio Median Figure of 3,588 Publicly-Listed Companies 1.06x
NSEI:RAYMOND PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:500330 Share Price ÷ Book Value per Share (both in INR)

= 686.65 ÷ 298.48

 2.3x

* Primary Listing of Raymond.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Raymond is overvalued based on assets compared to the IN Luxury industry average.
X
Value checks
We assess Raymond's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
    5. Raymond has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

RAYMOND Future Performance

 How is Raymond expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Raymond expected to grow at an attractive rate?
  • Raymond's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Raymond's earnings growth is positive but not above the India market average.
  • Raymond's revenue growth is positive but not above the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:RAYMOND Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:RAYMOND Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 10.4%
NSEI:RAYMOND Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 10.4%
India Luxury Industry Earnings Growth Rate Market Cap Weighted Average 18.3%
India Luxury Industry Revenue Growth Rate Market Cap Weighted Average 15%
India Market Earnings Growth Rate Market Cap Weighted Average 18.4%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:RAYMOND Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:RAYMOND Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 80,870 3,312 1,947 1
2020-03-31 73,421 2,420 1,926 3
2019-03-31 66,252 1,790 1,703 1
NSEI:RAYMOND Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 64,055 1,536
2018-09-30 62,146 1,449
2018-06-30 59,623 1,419
2018-03-31 59,085 3,947 1,346
2017-12-31 57,584 1,145
2017-09-30 55,811 698
2017-06-30 55,391 349
2017-03-31 53,616 3,481 255
2016-12-31 54,291 499
2016-09-30 58,110 1,072
2016-06-30 56,432 899
2016-03-31 51,956 3,172 848

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Raymond's earnings are expected to grow by 10.4% yearly, however this is not considered high growth (20% yearly).
  • Raymond's revenue is expected to grow by 10.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:RAYMOND Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Raymond Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:RAYMOND Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 31.50 31.50 31.50 1.00
2020-03-31 31.30 37.40 25.90 3.00
2019-03-31 27.70 27.70 27.70 1.00
NSEI:RAYMOND Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 25.02
2018-09-30 23.61
2018-06-30 22.64
2018-03-31 21.93
2017-12-31 18.67
2017-09-30 11.36
2017-06-30 5.68
2017-03-31 4.16
2016-12-31 8.29
2016-09-30 17.46
2016-06-30 14.65
2016-03-31 13.82

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Raymond is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Raymond's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Raymond has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

RAYMOND Past Performance

  How has Raymond performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Raymond's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Raymond's year on year earnings growth rate has been positive over the past 5 years.
  • Raymond's 1-year earnings growth exceeds its 5-year average (34.2% vs 3.2%)
  • Raymond's earnings growth has exceeded the IN Luxury industry average in the past year (34.2% vs 13.8%).
Earnings and Revenue History
Raymond's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Raymond Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:RAYMOND Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 64,054.85 1,535.80 13,360.75
2018-09-30 62,145.65 1,448.50 13,067.95
2018-06-30 59,622.65 1,419.00 12,725.95
2018-03-31 59,084.85 1,346.30 12,533.55
2017-12-31 57,584.49 1,144.77 12,532.83
2017-09-30 55,810.79 698.07 12,381.33
2017-06-30 55,391.19 348.77 12,315.43
2017-03-31 53,615.65 255.17 12,115.53
2016-12-31 54,290.71 499.34 11,857.21
2016-09-30 58,109.71 1,071.94 12,012.31
2016-06-30 56,432.31 899.14 11,694.31
2016-03-31 51,956.07 848.02 11,002.39
2015-12-31 54,836.37 573.05 14,649.54
2015-09-30 53,833.77 732.65 14,388.94
2015-06-30 53,457.37 1,319.45 14,224.14
2015-03-31 53,326.17 1,128.15 10,344.54
2014-12-31 51,761.27 994.80 12,110.90
2014-09-30 50,006.17 1,003.00 11,879.40
2014-06-30 47,702.77 1,244.60 11,646.40
2014-03-31 45,479.77 1,076.30 11,452.11
2013-12-31 43,731.92 1,001.00 11,415.37
2013-09-30 42,154.32 560.50 11,348.97
2013-06-30 41,060.12 140.30 11,296.37
2013-03-31 40,691.62 287.30 10,932.47
2012-12-31 39,490.91 313.00 10,854.76
2012-09-30 38,528.01 793.60 10,620.36
2012-06-30 37,184.01 1,100.40 10,382.96
2012-03-31 36,424.11 1,557.80 10,105.46

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Raymond has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Raymond used its assets less efficiently than the IN Luxury industry average last year based on Return on Assets.
  • Raymond has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Show me more strong past performing companies in the Luxury industry
X
Past performance checks
We assess Raymond's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Raymond has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

RAYMOND Health

 How is Raymond's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Raymond's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Raymond's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Raymond's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Raymond's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Raymond Company Filings, last reported 1 month ago.

NSEI:RAYMOND Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 19,118.50 22,600.90 4,449.00
2018-09-30 19,118.50 22,600.90 4,449.00
2018-06-30 18,882.82 23,543.45 4,199.32
2018-03-31 18,882.82 23,543.45 4,199.32
2017-12-31 17,988.20 20,276.70 4,711.40
2017-09-30 17,988.20 20,276.70 4,711.40
2017-06-30 17,424.28 21,422.21 4,593.44
2017-03-31 17,424.28 21,422.21 4,285.58
2016-12-31 17,468.20 18,956.00 4,830.40
2016-09-30 17,468.20 18,956.00 4,830.40
2016-06-30 16,943.07 20,628.79 4,491.43
2016-03-31 17,371.50 20,644.64 4,544.57
2015-12-31 16,019.40 17,918.10 4,588.30
2015-09-30 16,019.40 17,918.10 4,588.30
2015-06-30 16,138.88 18,854.48 4,472.03
2015-03-31 16,138.88 18,854.48 4,472.03
2014-12-31 15,592.20 17,794.10 4,676.30
2014-09-30 15,592.20 17,794.10 4,676.30
2014-06-30 15,366.70 19,020.52 4,850.93
2014-03-31 15,366.70 19,097.73 4,850.93
2013-12-31 14,874.60 15,426.00 4,661.90
2013-09-30 14,874.60 15,426.00 4,661.90
2013-06-30 13,912.44 17,568.58 4,585.24
2013-03-31 13,912.44 17,568.58 4,508.04
2012-12-31 13,900.70 15,527.30 4,503.30
2012-09-30 13,900.70 15,527.30 4,503.30
2012-06-30 13,764.36 17,566.97 4,644.91
2012-03-31 13,764.36 17,562.92 4,593.14
  • Raymond's level of debt (118.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (103.9% vs 118.2% today).
  • Debt is not well covered by operating cash flow (17.5%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Raymond's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Raymond has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

RAYMOND Dividends

 What is Raymond's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.44%
Current annual income from Raymond dividends. Estimated to be 0.66% next year.
If you bought ₹2,000 of Raymond shares you are expected to receive ₹9 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Raymond's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.55%).
  • Raymond's dividend is below the markets top 25% of dividend payers in India (2.07%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:RAYMOND Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
India Luxury Industry Average Dividend Yield Market Cap Weighted Average of 109 Stocks 0.6%
India Market Average Dividend Yield Market Cap Weighted Average of 1397 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:RAYMOND Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 6.00 1.00
2020-03-31 4.50 2.00
2019-03-31 3.00 1.00
NSEI:RAYMOND Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-04-24 3.000 0.365
2017-04-28 1.250 0.144
2016-04-26 3.000 0.587
2015-04-29 3.000 0.713
2014-05-02 2.000 0.451
2013-04-26 1.000 0.386
2012-05-24 2.500 0.687
2011-04-21 1.000 0.276
2009-05-19 0.000 0.000
2009-04-15 0.000 0.000
2009-02-16 2.500 3.214

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Raymond's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (8.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Raymond's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Raymond afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Raymond has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

RAYMOND Management

 What is the CEO of Raymond's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gautam Singhania
COMPENSATION ₹94,386,225
AGE 52
TENURE AS CEO 20.1 years
CEO Bio

Mr. Gautam Hari Singhania has been the Managing Director at Raymond Limited since 1999. Mr. Singhania is In Charge of all companies and subsidiaries of Raymond Group in India and abroad. He joined Raymond Group of Companies in 1986. He serves as the Chairman of the Board at Colorplus Fashions Limited and Ring Plus Aqua Ltd. He has been Chairman of board at Raymond Limited since September 2000. He serves as a Director of the Colorplus Fashions. He serves as a Director at J K Investors (Bombay) Ltd. He has been a Director of J. K. Investo Trade (India) Limited since June 20, 1990 and Raymond Limited since April 01, 1990. He serves as a Director and Chairman of Colorplus Fashions at Raymond Apparel Ltd. Mr. Singhania is a Commerce graduate of the University of Mumbai.

CEO Compensation
  • Gautam's compensation has increased by more than 20% in the past year.
  • Gautam's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Raymond management team in years:

6.7
Average Tenure
58
Average Age
  • The average tenure for the Raymond management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Gautam Singhania

TITLE
Chairman & MD
COMPENSATION
₹94M
AGE
52
TENURE
20.1 yrs

Sanjay Bahl

TITLE
Group Chief Financial Officer
COMPENSATION
₹27M
AGE
60
TENURE
3.1 yrs

Thomas Fernandes

TITLE
Director of Secretarial
COMPENSATION
₹9M
AGE
58
TENURE
10.3 yrs

J. Mukund

TITLE
Head of Investor Relations
TENURE
2.3 yrs

Ram Bhatnagar

TITLE
VP and Head of Sales & Distribution
COMPENSATION
₹8M
AGE
58

K. Narayan

TITLE
President of Human Resources
COMPENSATION
₹19M
AGE
60

S. Gupta

TITLE
President of Corporate & Shirting Business

S. Pokharna

TITLE
President of Commercial
COMPENSATION
₹11M
AGE
64

Sanjay Behl

TITLE
Chief Executive Officer of Lifestyle Business

Gaurav Mahajan

TITLE
President of Group Apparel
AGE
45
Board of Directors Tenure

Average tenure and age of the Raymond board of directors in years:

7.8
Average Tenure
52
Average Age
  • The tenure for the Raymond board of directors is about average.
Board of Directors

Ishwar Agarwal

TITLE
Independent Director
COMPENSATION
₹3M
AGE
77
TENURE
12.7 yrs

Gautam Singhania

TITLE
Chairman & MD
COMPENSATION
₹94M
AGE
52
TENURE
18.4 yrs

Pradeep Guha

TITLE
Independent Director
COMPENSATION
₹3M
AGE
66
TENURE
9.7 yrs

Boman Irani

TITLE
Independent Director
AGE
49
TENURE
7.8 yrs

Akshay Kumar Chudasama

TITLE
Independent Director
COMPENSATION
₹2M
AGE
48
TENURE
2.6 yrs

Nawaz Singhania

TITLE
Non-Executive Director
COMPENSATION
₹2M
AGE
49
TENURE
4.8 yrs

Surya Gupta

TITLE
Additional Director
AGE
67
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
01. Feb 19 Buy J K Investors (Bombay) Ltd. Company 30. Jan 19 30. Jan 19 14,000 ₹758.67 ₹10,621,380
30. Jan 19 Buy J K Investors (Bombay) Ltd. Company 29. Jan 19 29. Jan 19 5,000 ₹757.69 ₹3,788,450
29. Jan 19 Buy J K Investors (Bombay) Ltd. Company 28. Jan 19 28. Jan 19 30,000 ₹757.65 ₹22,729,498
21. Nov 18 Buy J K Investors (Bombay) Ltd. Company 19. Nov 18 20. Nov 18 70,000 ₹800.01 ₹55,752,844
10. Oct 18 Buy J K Investors (Bombay) Ltd. Company 09. Oct 18 09. Oct 18 25,000 ₹605.69 ₹15,142,249
01. Oct 18 Buy Sanjay Bahl Individual 19. Jul 18 25. Sep 18 1,000 ₹847.06 ₹768,573
01. Oct 18 Buy Sanjay Bahl Individual 19. Jul 18 25. Sep 18 1,750 ₹847.06 ₹1,362,225
12. Sep 18 Buy J K Investors (Bombay) Ltd. Company 11. Sep 18 11. Sep 18 50,000 ₹786.96 ₹39,347,999
14. Aug 18 Buy J K Investors (Bombay) Ltd. Company 10. Aug 18 10. Aug 18 20,000 ₹796.57 ₹15,931,400
10. Aug 18 Buy J K Investors (Bombay) Ltd. Company 08. Aug 18 09. Aug 18 25,000 ₹791.03 ₹19,735,671
08. Aug 18 Buy J K Investors (Bombay) Ltd. Company 06. Aug 18 06. Aug 18 20,000 ₹820.22 ₹16,404,400
17. Jul 18 Buy J K Investors (Bombay) Ltd. Company 13. Jul 18 16. Jul 18 15,000 ₹891.45 ₹13,184,692
11. Jul 18 Sell Vijaypat Singhania Individual 10. Apr 18 10. Apr 18 -2,497 ₹1,036.00 ₹-2,586,892
29. Jun 18 Buy J K Investors (Bombay) Ltd. Company 28. Jun 18 28. Jun 18 20,000 ₹896.97 ₹17,939,304
26. Jun 18 Buy J K Investors (Bombay) Ltd. Company 22. Jun 18 22. Jun 18 5,000 ₹954.51 ₹4,772,550
25. Jun 18 Buy J K Investors (Bombay) Ltd. Company 20. Jun 18 21. Jun 18 15,570 ₹963.97 ₹15,009,088
16. Apr 18 Buy J K Investors (Bombay) Ltd. Company 13. Apr 18 13. Apr 18 5,000 ₹1,057.74 ₹5,288,706
12. Apr 18 Buy J K Investors (Bombay) Ltd. Company 11. Apr 18 11. Apr 18 5,552 ₹1,031.38 ₹5,726,213
06. Apr 18 Buy Seema Behl Individual 02. Apr 18 02. Apr 18 1,100 ₹917.34 ₹1,009,075
06. Apr 18 Buy J K Investors (Bombay) Ltd. Company 04. Apr 18 05. Apr 18 20,016 ₹944.36 ₹18,902,243
04. Apr 18 Buy J K Investors (Bombay) Ltd. Company 02. Apr 18 03. Apr 18 7,432 ₹926.11 ₹6,882,869
07. Mar 18 Buy J K Investors (Bombay) Ltd. Company 01. Mar 18 05. Mar 18 42,500 ₹945.11 ₹39,577,336
01. Mar 18 Buy J K Investors (Bombay) Ltd. Company 28. Feb 18 28. Feb 18 25,000 ₹957.76 ₹23,944,011
09. Mar 18 Buy J K Investors (Bombay) Ltd. Company 06. Mar 18 06. Mar 18 10,000 ₹915.12 ₹9,151,203
X
Management checks
We assess Raymond's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Raymond has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

RAYMOND News

Simply Wall St News

Do Institutions Own Raymond Limited (NSE:RAYMOND) Shares?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Raymond is a smaller company with a market capitalization of ₹46b, so it may still be flying under the radar of many institutional investors.

Simply Wall St - –

Should You Be Tempted To Sell Raymond Limited (NSE:RAYMOND) Because Of Its P/E Ratio?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll show how you can use Raymond Limited's (NSE:RAYMOND) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St - –

How Should Investors React To Raymond Limited's (NSE:RAYMOND) CEO Pay?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Gautam Singhania's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Raymond Limited has a market cap of ₹53b, and is paying total annual CEO compensation of ₹94m.

Simply Wall St - –

What Should You Know About Raymond Limited's (NSE:RAYMOND) Capital Returns?

This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … To understand Raymond’s capital returns we will look at a useful metric called return on capital employed. … This will tell us if the company is growing your capital and placing you in good stead to sell your shares at a profit

Simply Wall St - –

How Many Insiders Bought Raymond Limited (NSE:RAYMOND) Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Raymond Limited (NSE:RAYMOND). … These transactions suggest that insiders have considered the current price of ₹815 attractive.

Simply Wall St - –

Raymond Limited (NSE:RAYMOND): Can Growth Justify Its November Share Price?

Raymond Limited (NSE:RAYMOND) is considered a high growth stock. … However its last closing price of ₹766.05 left investors wondering whether this growth has already been factored into the share price. … Investors in Raymond have been patiently waiting for the uptick in earnings.

Simply Wall St - –

Do Institutions Own Raymond Limited (NSE:RAYMOND) Shares?

Raymond is not a large company by global standards. … institutional investors have bought into the company. … We can zoom in on the different ownership groups, to learn more about RAYMOND

Simply Wall St - –

Raymond Limited (NSE:RAYMOND): Did It Outperform The Industry?

Measuring Raymond Limited's (NSE:RAYMOND) track record of past performance is an insightful exercise for investors. … Below, I will assess RAYMOND's recent performance announced on 30 June 2018 and compare these figures to its historical trend and industry movements. … How RAYMOND fared against its long-term earnings performance and its industry

Simply Wall St - –

Raymond Limited (NSE:RAYMOND): Assessing Capital Returns

Raymond stock represents an ownership share in the company. … This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … Thus, to understand how your money can grow by investing in Raymond, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St - –

Why Raymond Limited's (NSE:RAYMOND) Ownership Structure Is Important

In this article, I'm going to take a look at Raymond Limited’s (NSE:RAYMOND) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … Although this is an important factor for long-term investors, many investors can also be impacted by institutional presence and their high-volume trading.

Simply Wall St - –

RAYMOND Company Info

Map
Description

Raymond Limited operates as a textile, lifestyle, and branded apparel company in India and internationally. It operates through Textile, Shirting, Apparel, Garmenting, Tools & Hardware, Auto Components, and Others segments. The company offers wool, poly-wool, silk, polyester viscose blended, cotton blended, linen blended, and other blended suiting fabrics; and cotton and linen shirting fabrics under the Raymond Fine Fabrics brand name. It also provides suits, jackets, trousers, and shirts; denim fabrics; and menswear and ethnic wear under the Raymond Ready-To-Wear, Park Avenue, Color Plus, Parx, and Ethnix brands. In addition, the company offers steel files, cutting tools, hand tools, and power tools; and starter gears, water pump bearings, and flexplates. Further, it is involved in the non-scheduled airline operation and real estate development businesses. It has 1,167 retail stores in approximately 450 cities. Raymond Limited was founded in 1925 and is headquartered in Mumbai, India.

Details
Name: Raymond Limited
RAYMOND
Exchange: NSEI
Founded: 1925
₹43,227,466,429
61,380,854
Website: http://www.raymond.in
Address: Raymond Limited
New Hind House,
Narottam Morarjee Marg,
Mumbai,
Maharashtra, 400001,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 500330 Equity Shares Mumbai Stock Exchange IN INR 18. Oct 1995
NSEI RAYMOND Equity Shares National Stock Exchange of India IN INR 18. Oct 1995
BDL RAYMO GDR EACH REP 2 ORD INR10(REG S)(CIT) Bourse de Luxembourg LU USD 24. Nov 1994
Number of employees
Current staff
Staff numbers
7,125
Raymond employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/15 12:52
End of day share price update: 2019/02/14 00:00
Last estimates confirmation: 2019/01/25
Last earnings filing: 2019/01/23
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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