Raymond Limited

rs,

-23/211 February 28, 2023 To The Department of Corporate Services - CRD BSE Limited P.J. Towers, Dalal Street Mumbai - 400 001 Scrip Code: 500330 The National Stock Exchange of India Limited

₹400

ore Current Primed for Growth ▪ Reset the business model ▪ Established Real Estate business ▪ ~₹400 cr sustainable cost savings ▪ Effective NWC management ▪ Optimized debt structure ▪ Maintaining s

15%

structure ▪ Maintaining strong liquidity ▪ 5 quarters of record breaking performance: ▪ Revenue ~15% growth vs pre-covid ▪ EBITDA margin improved by ~400 bps to 16% ▪ Set benchmarks in new business:

400 bps

s of record breaking performance: ▪ Revenue ~15% growth vs pre-covid ▪ EBITDA margin improved by ~400 bps to 16% ▪ Set benchmarks in new business: Delivered 1st 3 towers in TenX project 2 years ahead of

16%

breaking performance: ▪ Revenue ~15% growth vs pre-covid ▪ EBITDA margin improved by ~400 bps to 16% ▪ Set benchmarks in new business: Delivered 1st 3 towers in TenX project 2 years ahead of RERA t

₹8,177

imelines ▪ New management team with robust governance structure in place Financial Milestones ₹8,177 cr revenues with ₹1,302 cr EBITDA on TTM basis NWC from peak levels of 98 days to 55 days FCF led

₹1,302

nt team with robust governance structure in place Financial Milestones ₹8,177 cr revenues with ₹1,302 cr EBITDA on TTM basis NWC from peak levels of 98 days to 55 days FCF led Net Debt by ~₹1,450 cr f

₹1,450

ith ₹1,302 cr EBITDA on TTM basis NWC from peak levels of 98 days to 55 days FCF led Net Debt by ~₹1,450 cr from peak levels of ₹2,378 cr to ₹932 cr 2025 4 Delivering Consistent Performance Consistentl

₹2,378

sis NWC from peak levels of 98 days to 55 days FCF led Net Debt by ~₹1,450 cr from peak levels of ₹2,378 cr to ₹932 cr 2025 4 Delivering Consistent Performance Consistently delivered strong QoQ perform

₹932

peak levels of 98 days to 55 days FCF led Net Debt by ~₹1,450 cr from peak levels of ₹2,378 cr to ₹932 cr 2025 4 Delivering Consistent Performance Consistently delivered strong QoQ performance in las

2%

ITDA 1871 2032 1754 2191 2200 Pre-covid Growth Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 (2%) 11% 20% 15% 15% PAT 0255075100125150175200225250275300325350 13.1% 263 5.3% 100 7.2% 1

11%

1871 2032 1754 2191 2200 Pre-covid Growth Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 (2%) 11% 20% 15% 15% PAT 0255075100125150175200225250275300325350 13.1% 263 5.3% 100 7.2% 159 7.

Revenue grown by

2

Drive revenue growth through

2

Export Market

1

Revenue grown by

• 18% v/s previous year (Q3FY22) • 15% v/s pre-covid levels (Q3FY20) EBITDA up by 16% v/s previous year (Q3FY22) PAT* up by 68% v/s previous year (Q3FY22) Focus continues on efficient cost management *Raymond Ltd. has exercised the option of lower corporate tax rate which has resulted in one-time net impact of ₹ 73.5 Cr in profit & loss account of Q3FY23 and period ending 31st December, 2022. Q3FY20 onwards are post IND AS 116 reported numbers 7 9mFY23: Strong profitable growth with a sharp focus on execution ▪ ▪ ▪ ▪

Revenue grown by

• 42% v/s previous year (9MFY22) • 16% v/s pre-covid levels (9MFY20) EBITDA margin @15.3%, 388 bps higher v/s pre-covid levels (9MFY20) EBITDA up by 56% v/s pre-covid levels (9MFY22) Focus continues on efficient cost management *Raymond Ltd. has exercised the option of lower corporate tax rate which has resulted in one-time net impact of ₹ 73.5 Cr in profit & loss account of Q3FY23 and period ending 31st December, 2022 8 9M FY229M FY20Total Income52874316614542%16%Opex16561249164332%(1%)EBITDA60652394380%56%EBITDA Margin11.5%12.1%15.3%324 bps388 bpsPAT*264(3)408NA55%Opex to Revenue %31.3%28.9%26.7%Particulars (INR Cr)Growth over9M FY209M FY229M FY23 NWC days lower by over ~ 45% from peak level NWC Days ₹ Cr. 1731 98 2051 1855 1359 1117 1263 1002 55 1316 1492 Mar-19 Sep-19 Mar-20 Sep-20 Mar-21 Sep-21 Mar-22 Sep-22 Dec-22 ▪ Key initiatives: strong emphasis on collections and efficient inventory management & related production cycles ▪ NWC days reduced by ~ 45% to 55 days in Dec-22 from 9

Drive revenue growth through

▪ Building categories through premiumization – wool rich blends ▪ Positioning from ‘Occasion Wear’ to ‘Daily Wear’ ▪ High impact product innovations including: Techno Series • Shape retention • Anti- Stain, Self Cleaning • Stretch Collection (Spanax) • Quick Dry, Water Repellant • • Fashion First Casual Collection Sustainable Collection Zenpel 19 Branded Textiles: Sustain growth through Product & Service Innovation Shirting Fabric Innovative Offerings

Drive revenue growth through

▪ Building Raymond brand for shirting across the consumer chain ▪ Strong growth in linen category ▪ Premiumization in cotton through portfolio enhancement ▪ Volume growth in mass segment & enhancing distribution network ▪ New trends and fashion focused categories through design & product innovation Regio Italia Sustainova Vibez 2.0 Linen Stain Resistant 20 Service Innovation: Nurturing the tailoring ecosystem Skill training in Casualwear Investing in focused training Personalized Engagement ▪ Develop tailoring ability to ▪ Ontime Delivery ▪ Made-To-Measure do casualwear in TRS: Mapping fabrics, trims & designs followed by training ▪ ▪ ▪ Soft skill training & • Immersive Experience grooming of Master Tailors • Personalised engagement Ensure Quality trims Innovative styling 21 Branded Textiles: Sustain growth through Product & Service Innovation Raymond Home Innovative Offerings ▪ ~$7 bn domestic market with growth drivers: Opulence: Cotton king size bedsheet Majestic: Super soft Blanket

Export Market

▪ ▪ ▪ Inflationary impacted global environment Euro-currency depreciation & devaluation of currency in certain markets B2B customers deferred certain orders as they are witnessing a slowdown in the secondary demand 40 Engineering Business: Geared up for profitable growth ▪ ▪ ▪ ▪ Consolidate market leadership position mainly in the automotive and industrial files segment Continue to build relationships with white label customers in engineering products Increase wallet share with existing customers Increase presence in non-auto exports market ▪ Add new customers and products ▪ Develop new engine agnostic products ▪ Capacity Expansion in ring gears, water pump bearings, flexplates product categories through internal cash accruals Consolidate Expand ▪ Building operational efficiencies across manufacturing and supply chain processes ▪ Manufacturing efficiency – outsourcing, ancillaries, modrenisation and automation Margin Expansion 41 The Journey ahead - Create consistent shareholder value