Realty
Raymond Limited engages in the real estate and engineering businesses in India. It operates through Real Estate Development, Tools and Hardware, Auto Components, Precision, and Others segments. The company engages in the real estate development and non-scheduled airline operations. It also manufactures and distributes precision engineered components, such as steel files, drills, cutting tools, hand tools, and power tool accessories; and auto parts, such as ring gears, flex plates, and water pump bearings. Raymond Limited was incorporated in 1925 and is based in Mumbai, India.
Summary of Raymond's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated: Feb 25
Management Outlook and Major Points:
1. Economic Context & Overall Performance:
2. Real Estate Business:
3. Engineering Business:
4. Financial Position:
5. Future Outlook:
Last updated: Feb 25
Question 1: "Can you share the demand environment that you are witnessing in engineering segment, like the kind of order flows and which subsegment is contributing meaningfully to our growth in this segment and where are we facing the challenges?"
Answer Summary: The engineering segment shows recovery signs in Q4, driven by hybrid market growth in Europe and new product introductions. Aerospace faces delays due to Boeing's production issues but expects improvement post-resolution. Long-term contracts and increased market share (e.g., 30% to 60-65% in aerospace) support visibility. Export challenges persist, but domestic demand for auto components (flex plates) and tools remains strong. Synergy efforts and capacity expansions aim to boost efficiency.
Question 2: "Are people witnessing any kind of slowdown in terms of infrastructure CAPEX from the government side in the upcoming budget or do you still believe government is continuing to increase the allocation towards this area?"
Answer Summary: No observed slowdown in infrastructure project approvals or government CAPEX allocation. Current demand remains robust, with Raymond Realty on track for 20% YoY booking growth. The company refrains from speculative comments on budget specifics but highlights confidence in sustained infrastructure momentum.
Question 3: "How is the demand situation on ground and how is January, is there any demand being moderating, do you see any sign of demand moderating in Thane, Mumbai or any other market in MMR?"
Answer Summary: No demand moderation observed in Thane/Mumbai markets. Raymond Realty's GS2 project (Tower E) saw 30% inventory sold at launch (average ticket size ~Rs.3 crores). Guidance of 20% YoY booking growth remains intact, with strong traction in residential and retail projects.
Question 4: "How is the approval process shaping up? Is it becoming harder to get approvals to launch the towers or has it eased out in the last few months?"
Answer Summary: Approval processes remain consistent with no significant challenges. Raymond adheres to existing policies without seeking special dispensations, ensuring timely project execution. No delays or regulatory hurdles reported in current real estate ventures.
Balance Sheet: Strong Balance Sheet.
Profitability: Very strong Profitability. One year profit margin are 134%.
Size: Market Cap wise it is among the top 20% companies of india.
Technicals: Bullish SharesGuru indicator.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Smart Money: Smart money has been increasing their position in the stock.
Growth: Declining Revenues! Trailing 12m revenue has fallen by -34.3% in past one year. In past three years, revenues have changed by 0.9%.
Comprehensive comparison against sector averages
RAYMOND metrics compared to Realty
Category | RAYMOND | Realty |
---|---|---|
PE | 1.29 | 40.16 |
PS | 1.73 | 8.27 |
Growth | -34.3 % | 7.1 % |
RAYMOND vs Realty (2021 - 2025)
Understand Raymond ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
---|---|
J K Investors (Bombay) Limited | 29.83% |
J K Investo Trade (India) Limited | 12.43% |
J K Helene Curtis Limited | 5.4% |
Government Pension Fund Global | 1.98% |
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund | 1.93% |
Abu Dhabi Investment Authority - Monsoon | 1.77% |
Ebisu Global Opportunities Fund Limited | 1.42% |
Tata Mutual Fund- Tata Equity P/E Fund | 1.23% |
Smt Sunitidevi Singhania Hospital Trust | 1.04% |
Unico Global Opportunities Fund Limited | 1.02% |
Polar Investments Limited | 0.15% |
Niharika Gautam Singhania | 0.01% |
J K Sports Foundation | 0.01% |
Vijaypat Singhania | 0% |
Ashadevi Singhania | 0% |
Gautam Hari Singhania | 0% |
Nisa Gautam Singhania | 0% |
Nawaz Singhania | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
Analysis of Raymond's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2024
Description | Share | Value |
---|---|---|
Real estate and development of property | 51.1% | 487.8 Cr |
Precision | 24.7% | 235.3 Cr |
Tools and hardware | 11.2% | 106.9 Cr |
Auto components | 9.6% | 91.3 Cr |
Others | 3.4% | 32.7 Cr |
Total | 953.9 Cr |
Valuation | |
---|---|
Market Cap | 10.07 kCr |
Price/Earnings (Trailing) | 1.3 |
Price/Sales (Trailing) | 1.74 |
EV/EBITDA | 9.99 |
Price/Free Cashflow | 30.62 |
MarketCap/EBT | 16.58 |
Fundamentals | |
---|---|
Revenue (TTM) | 5.77 kCr |
Rev. Growth (Yr) | -59.79% |
Rev. Growth (Qtr) | -10.48% |
Earnings (TTM) | 7.73 kCr |
Earnings Growth (Yr) | -61.01% |
Earnings Growth (Qtr) | 22.49% |
Profitability | |
---|---|
Operating Margin | 10.71% |
EBT Margin | 10.52% |
Return on Equity | 191.88% |
Return on Assets | 104.25% |
Free Cashflow Yield | 3.27% |
Investor Care | |
---|---|
Dividend Yield | 0.75% |
Dividend/Share (TTM) | 13 |
Shares Dilution (1Y) | 0.00% |
Diluted EPS (TTM) | 1.15 K |
Financial Health | |
---|---|
Current Ratio | 2.16 |
Debt/Equity | 0.22 |
Debt/Cashflow | 0.59 |
Detailed comparison of Raymond against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|---|
PAGEIND | Page IndustriesGarments & Apparels | 50.4 kCr | 4.88 kCr | +5.84% | +28.43% | 74.85 | 10.32 | +6.67% | +24.84% |
KPRMILL | K.P.R. MillOther Textile Products | 35.07 kCr | 6.39 kCr | +13.18% | +18.56% | 42.55 | 5.49 | +0.23% | +2.86% |
VTL | Vardhman Textiles LimtedOther Textile Products | 13.49 kCr | 10.02 kCr | +18.06% | +3.32% | 15.85 | 1.35 | +1.56% | +43.15% |
ARVIND | ArvindGarments & Apparels | 9.98 kCr | 8.23 kCr | +20.96% | +21.42% | 31.46 | 1.21 | +8.39% | -8.21% |
KITEX | Kitex GarmenetsGarments & Apparels | 4.87 kCr | 872.79 Cr | +35.59% | +257.98% | 39.4 | 5.58 | +53.20% | +216.67% |