Raymond LTD Buy at CMP 990 for Target of 1075 to 1190, Time frame - 5 months to 18 Months, SL - 845 Raymond Q2FY18 consolidated net profit rises 60% yoy to Rs.48 crore . For Q3FY18, Raymond Ltd’s revenue grew by 13.6% yoy to Rs1,484cr. . Company reported P rofit A fter T ax of Rs31cr vs. Net Loss of Rs15cr yoy in Q3 FY17 • Its revenue from Textile, Shirting, Apparel and Garmenting segments grew by 13.8%, 13.9%, 7.1% and 26.2% yoy respectively. • Finance cost grew by 0.9% yoy to Rs46cr. • Depreciation and amortisation expenses grew by 10.6% yoy to Rs43cr. • Employee benefit expenses grew by 7.8% yoy to Rs209cr. • 9MFY18 revenue grew by 9.2% yoy to Rs4,277cr. . In Q3FY18, company opened a linen plant with a capacity of 4.8mn meters p.a. in Amravati. • In Q3FY18, the company added 34 new stores (including 17 mini stores) and closed 15 stores. • Out of total new stores added in Q3FY18, ~70 are franchised. • Q4FY18
