Raymond Lifestyle (RAYMONDLSL) investor relations material

Executive summary

• Q1 FY27 saw total income rise 6% year-over-year to ₹1,560 Cr, with EBITDA up 11% to ₹135 Cr and margin expansion to 8.6%.

• The company maintained a net cash surplus of ₹154 Cr as of June 2026, transitioning from a net debt position a year prior.

• Strong Garmenting performance, driven by international growth, premiumization, and US-India tariff rationalisation, contributed to overall results.

• Store rationalization continued, with 133 underperforming stores exited and 85 new high-yielding locations opened, optimizing the network to 1,627 stores.

• Net profit remained negative at ₹(23) Cr, impacted by higher depreciation, interest expenses, and exceptional items.

Financial highlights

• Total income for Q1 FY27 was ₹1,560 Cr, up from ₹1,475 Cr in Q1 FY26; EBITDA rose to ₹135 Cr, with a margin of 8.6%, up 40 basis points year-on-year.

• Net cash surplus of ₹154 Cr as of June 2026, compared to net debt of ₹55 Cr in June 2025.

• Net working capital days improved by 15 days to 75 days year-on-year.

• Net loss for Q1 FY27 was ₹(2,259) lakhs, compared to ₹(1,982) lakhs in Q1 FY26.

• Network optimization led to a net reduction of 48 stores year-on-year.

Outlook and guidance

• Management targets double-digit top-line and higher double-digit EBITDA growth for FY27, with a focus on premiumization, casualization, and geographical diversification.

• Garmenting order book is full through December, with Q4 bookings underway; margins expected to remain stable barring unforeseen global events.

• Price hikes of 5%-7% in apparel and 7%-9% in fabric are planned for Q2 onwards to offset raw material inflation.

• Continued investment in ESG, digital transformation, and retail maturity to drive sustainable value.

• Store rationalization will continue for 2-3 more quarters, with e-commerce and LFS channel growth offsetting EBO closures.