Raymond Limited

rs,

3-24/177 November 8, 2023 To The Department of Corporate Services - CRD BSE Limited P.J. Towers, Dalal Street Mumbai - 400 001 Scrip Code: 500330 Dear Sir/Madam Sub: Raymond Limited – Investo

₹2,321

Revenue and EBITDA Continues to Maintain Net Debt Free Status at Group Level HIGHEST EVER REVENUE ₹2,321 Cr. QoQ Growth 27% Delivered Highest Quarterly Revenues, despite muted customer demand and tough

27%

inues to Maintain Net Debt Free Status at Group Level HIGHEST EVER REVENUE ₹2,321 Cr. QoQ Growth 27% Delivered Highest Quarterly Revenues, despite muted customer demand and tough market conditions

₹382

ed Highest Quarterly Revenues, despite muted customer demand and tough market conditions EBITDA ₹382 Cr. Margin 16.5% Reported Highest ever EBITDA in a Quarter REAL ESTATE BOOKING VALUE ₹650 Cr.

16.5%

rly Revenues, despite muted customer demand and tough market conditions EBITDA ₹382 Cr. Margin 16.5% Reported Highest ever EBITDA in a Quarter REAL ESTATE BOOKING VALUE ₹650 Cr. 285 Units Strong

₹650

ITDA ₹382 Cr. Margin 16.5% Reported Highest ever EBITDA in a Quarter REAL ESTATE BOOKING VALUE ₹650 Cr. 285 Units Strong performance with booking value of ₹650 Cr (~110% increase YoY) in Q2FY24

110%

AL ESTATE BOOKING VALUE ₹650 Cr. 285 Units Strong performance with booking value of ₹650 Cr (~110% increase YoY) in Q2FY24 63 New Stores Opened • New stores opened across Metro, Tier I to Tier

18%

res Opened • New stores opened across Metro, Tier I to Tier IV towns • Strong revenue growth of 18% in Branded Apparel segment RECENT DEVELOPMENTS Real Estate Engineering • Appointed as a Deve

₹1,700

d Apparel segment RECENT DEVELOPMENTS Real Estate Engineering • Appointed as a Developer in a ₹1,700 Cr. Real Estate project in Mahim (in Oct-23) • Forays into sunrise sectors of Aerospace, Defense

₹1,100

Aerospace, Defense and EV Components Business through Acquisition of MPPL Business (in Nov-23) ~₹1,100+ Cr. Group# Surplus Cash Strong balance sheet with surplus cash of ~₹1,100+ Cr. at Group level

6%

Q2FY24: Delivers Highest Ever Revenue and EBITDA Despite muted customer demand (₹Cr.) Revenue 6% (₹Cr.) EBITDA & Margins (%) 2,191 2,321 12.4% 13.5% 8% 16.3% 16.6% 1,913 1,583 732 Q2

12.4%

Despite muted customer demand (₹Cr.) Revenue 6% (₹Cr.) EBITDA & Margins (%) 2,191 2,321 12.4% 13.5% 8% 16.3% 16.6% 1,913 1,583 732 Q2 FY20 Q2 FY21 Q2 FY22 Q2 FY23 Q2 FY24 PBT & Mar

“• Inventory to cater to demand for upcoming festive season & incremental stock in new stores • Receivables due to trade partner orders deferment to September on account of delay of festivities in Q3 • Real estate inventory related to construction cost & new project approvals”

“+ Estimated Revenue ₹9,000 Cr.+ Upcoming Project In Bandra Appointed as a Developer for a Prominent project in Mahim Est.”

“We continue to achieve milestones across businesses as we recently announced our second project under joint development in our real estate business with a potential of ₹ 1,700 Cr revenue.”

Total Units Planned

5

Achieved Surplus Cash at Group level led by

1

NWC higher mainly due to Increase in

1

Free Cash Flow utilization

1

Net Debt

1

Achieved Surplus Cash at Group level led by

• ~₹ 1,350 Cr. through FCF generated during the period of FY21-FY23 • ₹ 350 Cr. from land sale in Dec-19 • ₹ 2,850 Cr. from sale of FMCG business, with estimated after tax realization of ~₹ 2,200 Cr. in May-23 Key Initiatives: Focused revenue growth, cost optimization & effective working capital management generating FCF * Group surplus cash based on aggregation of Net debt / (Surplus) of consolidated Raymond Limited and Raymond Consumer Care Ltd. 9 Strategic INITIATIVES UNDERTAKEN 10 Strategic Initiatives Undertaken STRENGTHENING THE CORE (FY21-23) RECENT VALUE UNLOCKING & GROWTH INITIATIVES in FY24 Reset the Business model during Covid Established Real Estate Business Sustainable Annual Cost Savings (~₹400 Cr.) Effective Working Capital Management Continued Net Debt Reduction Selling of FMCG Business Demerger* of Lifestyle Business Shaping Scalable Real Estate Business Engineering Business forays into sunrise sectors of Aerospace, Defense and EV Components Business by Acquisition* of

NWC higher mainly due to Increase in

• Inventory to cater to demand for upcoming festive season & incremental stock in new stores • Receivables due to trade partner orders deferment to September on account of delay of festivities in Q3 • Real estate inventory related to construction cost & new project approvals

Net Debt

• With FMCG business sale proceeds of ₹ 2,825 Cr. achieved Net Debt free status at Group level two years ahead of stated guidance • Surplus Cash of ₹ 1,100 Cr.+ at Group level available as Growth Capital * Gross debt excluding accrued interest # Group surplus cash based on aggregation of Net debt / (Surplus) of consolidated Raymond Limited and Raymond Consumer Care Ltd 20 Go To MARKET INITIATIVES 21 Go to Market Initiatives — Suiting ECO LIFE Sustainable Fabric RWS wool A Sustainable fabric made from Super 100s, Super 90s and Super 70s RWS wool. 22 Go to Market Initiatives — Shirting Voyage Art Photo Print Regio Italia Sustainova Checkmate 23 4-Way Stretch Stain Resistant Stain Resistant Go to Market Initiatives — Apparel COLORPLUS (Chinos) PARK AVENUE 24 ‘Ethnix by Raymond’ Ethnix range for targeted Occasion Festive Collection Wedding Collection Smart Ethnix 25 Digital Imperatives The new norm of business Smart analytics Smart Retail LIVE Analytics: Raypulse • A unified App hosted in

Total Units Planned

905 (3BHK: 301; 2BHK: 604) Particulars FY23 Q1 FY24 Q2 FY24 H1 FY24 Project Till Date No of Bookings RERA Carpet Area* Value of Bookings (Cr.) 542 0.31 663 102 0.06 135 85 187 2,638 0.05 0.11 1.43 101 235 2,786 Customer Collections (Cr.) 897 113 154 267 2,260 Particulars FY23 Q1 FY24 Q2 FY24 H1 FY24 Project Till Date No of Bookings 255 41 15 56 RERA Carpet Area* 0.34 0.04 0.02 0.06 490 0.60 Value of Bookings (Cr.) 742 93 56 149 1,291 Customer Collections (Cr.) 374 86 128 214 629 Particulars FY23 Q1 FY24 Q2 FY24 H1 FY24 Project Till Date No of Bookings 141 72 52 124 RERA Carpet Area* 0.10 0.05 0.04 0.09 Value of Bookings (Cr.) Customer Collections (Cr.) 204 11 102 20 85 23 187 43 265 0.19 391 54 % UNIT SOLD ~85% % UNIT SOLD ~89% % UNIT SOLD LAUNCHED UNITS ~44% 42 42 * In Mn Sq.ft Existing Projects Booking Update (as on 30th September) 2 Towers with RERA Carpet Area ~0.5 Mn sq.ft.

Total Units Planned

102 (4.5BHK: 102) Particulars Project Till Date No of Bookings RERA Carpet Area* Value of Bookings (Cr.) Customer Collections (Cr.) Particulars No of Bookings RERA Carpet Area* Value of Bookings (Cr.) 107 0.13 269 21 Project Till Date 26 0.06 140 Customer Collections (Cr.) 10 % UNIT SOLD LAUNCHED UNITS ~49% % UNIT SOLD LAUNCHED UNITS ~25% 43 Launch in July-23 Launch in Aug-23 * In Mn Sq.ft Ten X Habitat 3 towers delivered 2 years ahead of RERA Timeline Towers 1, 2, 3, 4 & 5 Towers 6, 7, 8, 9 & 10 Central Amenities Building Elevation Reference Image Reference Image 44 The Address By GS Construction in full swing Building Elevation Reference Image Tower (A) 18th Floor Slab Completed Tower (B) 10th Floor Slab Completed 45 Ten X ERA Launched in Feb-23 Tower (B) Foundation work in progress Building Elevation Tower (C) Plinth Slab Completed Reference Image 46 The Address by GS Season 2 Launched in Q2FY24 Building Elevation Tower (C) Excavation in progress Reference Image (Tower C & Tower D)