Raymond Lifestyle (RAYMONDLSL) Q4 25/26 earnings summary

Executive summary

• Achieved record total income of ₹7,034 Cr in FY26, up 11% year-over-year, driven by robust domestic demand and volume growth in branded textile and apparel divisions, offsetting global headwinds.

• EBITDA grew 23% to ₹804 Cr for the year, with margin at 11.4%, despite higher advertising spend; Q4 EBITDA rose 53% to ₹152 Cr, margin up to 8.4%.

• Net cash surplus of ₹179 Cr; company remains debt-free with robust balance sheet.

• Retail network optimized to 1,653 stores, opening 89 premium outlets and exiting 124 underperformers.

• Leadership transition with new CEO, CFO, and CMO, focusing on operational efficiency, governance, ESG, and brand transformation.

Financial highlights

• FY26 total income rose 11% year-over-year to ₹7,034 Cr; Q4 FY26 income up 15% to ₹1,810 Cr.

• FY26 EBITDA increased 23% to ₹804 Cr; Q4 FY26 EBITDA up 53% to ₹152 Cr.

• FY26 net profit was ₹175 Cr, up 21% year-over-year; Q4 FY26 net profit was ₹15 Cr.

• Net working capital days reduced from 87 to 77, targeting further reduction below 70 days.

• FY26 PBT grew 63% to ₹200 Cr; Q4 FY26 PBT was negative at ₹(1) Cr due to exceptional items.

Outlook and guidance

• FY27 designated as a year of consolidation, focusing on sustainable double-digit top and bottom-line growth, premiumization, casualization, and digital transformation.

• Plans to add over 100 EBO stores gross, with net addition of 30-40 stores after rationalizing underperformers.

• Strategic focus on expanding go-to-market channels and leveraging UK/EU trade agreements for geographic diversification.

• Continued investment in ESG initiatives, including renewable energy and emissions reduction targets.

• No formal long-term revenue guidance yet; a three-year strategy is being developed with a top consultancy.