RAYMOND

SECRETARIAL DEPARTMENT Jekegram, Pokhran Road No. 1, Thane (W) • 400 606 Maharashtra, India CIN No.: L1 71 l 7MH 1925PLCOO I 208 Tel: (91-22) 4036 7000 / 6152 7000 Fax: (91-22) 2541 2805 www.raymond.in RL/SE/AC/21-22/37 July 29, 2021 To The Department of Corporate Services -CRD The National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor P.J. Towers, Dalal Street Bandra-Kurla Complex Mumbai -400 001 Bandra (East), Mumbai -400 051 Scrip Code: 500330 Symbol: RAYMOND Luxembourg Stock Exchange Societe De La Bourse De Luxembourg, 35A, Boulevard Joseph II, L-1840 Luxembourg Trading Code: USY721231212 Dear Sir /Madam Sub: Raymond Limited: Investor Presentation on the Unaudited Financial Results for the First Quarter ended June 30. 2021 Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we enclose herewith the Investor Presentation on the Unaudited Financial Results for the First Quarter ended June 30, 2021. The Investor Presentation has been uploaded on the website of the Company i.e. www.raymond.in. We request you to take the above information on record. Thanking you Yours faithfully or RAYMOND LIMI ED Encl.: a/a Ri,�SlERED OFFICE �-- Plot No. 156/H No. 2, Village Zadgaon, 1�) T R e a l t : n ( a 0 g 2 ir 3 i 5 • 2 4 ) 1 2 5 3 6 2 1 5 2 1 , 4 Maharashtra Fax: (02352) 232513 Raymond Limited Q1FY22 Result Presentation Disclaimer • The particulars of this presentation contain statements related but not limited to revenues, financial results and supplemental financial information which has been compiled by the management, not to be construed as being provided under any legal or regulatory requirement and are not intended to invite any investment in the Company. The information contained in this presentation has not been subjected to review by Auditors or the Board of Directors of the Company. Commentary in the presentation describes the reporting quarter’s performance versus the same quarter of the corresponding previous year, unless specified otherwise. The figures for the previous periods in this presentation have been regrouped/ reclassified, wherever necessary. The Company assumes no responsibility and does not provide any warranty to the accuracy or comprehensiveness of the information contained in this presentation. • This presentation is not intended to be a “prospectus” (as defined under the Companies Act, 2013), SEBI Regulations and relevant provisions of applicable laws. This presentation is for information purposes only and does not constitute or form part of, and should not be considered as any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscription of securities in any manner. No part of this presentation and the information contained herein should form the basis of, or be relied upon, in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. • Statements in this presentation describing the Company’s objectives, projections, estimates, expectations or predictions may constitute “forward looking statements”. Such statements are based on the current expectations and certain assumptions of the Company's Management, and are, therefore, subject to risks and uncertainties. Actual results may differ materially from those expressed or implied. The Company neither intends, nor assumes any obligation to amend, modify, revise or update these forward looking statements, on the basis of any subsequent developments which differ from those anticipated. Table of Contents Company Overview 4 Q1 Highlights 9 Financial Highlights 11 Current Status 39 3 Raymond Group: Introduction SUITING SHIRTING APPAREL RETAIL PRESENCE GARMENTING ENGINEERING REAL ESTATE DENIM FMCG A diversified group with interests in Textile & Apparel sectors as well as presence across diverse segments such as Real Estate, FMCG, Engineering in national and international markets 5 Raymond: A Group with Strong Leadership Position # 1 player in Amongst leading 1st organised retailer Manufacturer of Near 100% worsted suiting men’s tailored suit in India world’s finest fabric consumer awareness fabrics in India manufacturers in the world One of the world’s One of the largest Largest exporter of Among the Most largest One of the leading exclusive retail men’s suits from Trusted brands in manufacturer of players in Branded network in Branded India India worsted suiting Apparel menswear Lifestyle space fabric segment 6 Raymond Group at a Glance Segments Branded Textile Promoter Suiting B2C Shirting Made to Measure (MTM) Group Branded Apparel Raymond Apparel (100%) 49% Garmenting Everblue Apparel Silver Spark (100%) Apparel (100%) Ethiopia *(100%) High Value Cotton Shirting Public Raymond Luxury Cotton (75.7%) Tools & Hardware JK Files (100%) JK Talabot (90%) 51% Auto Components Ring Plus Aqua (89.1%) Real Estate Denim FMCG Others# Raymond UCO Raymond Consumer Denim (50%) Care (47.7%) (1) Raymond shareholding pattern as of 30th June 2021 as per BSE (2) Legend: Division Associate Subsidiary Business Segment Joint Venture * Silver Spark Apparel Ethiopia Plc | #Includes Non-Scheduled Airline operations Note: The structure includes key subsidiaries & operating businesses only 7 Management Team K A Narayan S L Pokharna Amit Agarwal President – Director - Raymond Ltd Group CFO Human Resources Ex- JSW, Jet Airways, Ex- Wockhardt Essar Group Ganesh Kumar Hemant Lakhotia Balasubramanian V COO – Lifestyle CEO – Tools & Hardware CEO – Auto Ex- Arysta Life, Mosiac Ex- Schneider Electric, Ex- Eaton Industrial, Crompton Greaves Bosch Chassis Harmohan Sahni Arvind Mathur Sudhir Langer CEO – Reality CEO - Denim CEO - FMCG Ex- ECL Finance Ltd, Ex- Coats Plc Ex- Tata Global Bev., Gcorp Developers Pvt.Ltd Reckitt, Colgate 8 Market Update Overall quarter impacted by lockdowns • A bullish start of CY2021 coupled with strong wedding season & positive consumer sentiments expected a revival in Q1FY22 • However, from beginning of Apr-21, the 2nd wave of Covid-19 resulted in local lockdowns across markets starting from West followed by North, East & South regions • Various forms of local lockdowns – restricted hours of operations during weekdays, weekend lockdowns, opening on alternate days, mall closures effected consumer footfalls and impacted trade & retail sales • With easing of restrictions, industry witnessed improvement in consumer sentiments from later half of Jun-21 month • Also, secondary sales improved with ease of mobility mainly contributed by recovery in lower tier markets compared to Metros & Tier 1 cities 10 Consolidated Results – Q1FY22 Particulars (INR Cr) Q1FY22 Q1FY21 Net Revenue 862 222 +288.3% Opex 347 275 +26.2% EBITDA 7 (167) EBITDA margin 0.8% NA PBT (109) (322) Exceptional Items* (43) - Taxes 2 101 Associate / JV / Minority (6) (21) Net Profit (157) (242) *Exceptional Items: • Insurance claim received of Rs. 10.0 cr • Gain on exchange of land surrendered in lieu of development rights of Rs. 92.4 cr • Apparel business - Provision of Rs. 116.7 cr towards discount sharing with customers (trade receivables) and write-down of inactive category of inventories of Rs. 28.8 cr, severely impacted due to second wave of ongoing pandemic 12 Segment Results – Q1FY22 Post Ind AS 116 Revenue EBITDA EBITDA % Particulars (INR Cr) Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Branded Textile 283 17 (21) (95) (7.3%) na Branded Apparel 75 - (29) (38) na na Garmenting 98 100 1 (6) 0.9% (6.1%) High Value Cotton Shirting 101 6 6 (17) 6.2% na Tools and Hardware 110 20 12 (14) 11.3% na Auto Component 70 21 11 (1) 15.9% (4.2%) Real Estate 130 5 38 (1) 29.0% na Others # (4) 54 (12) 7 na na Raymond Consolidated 862 222 7 (167) 0.8% na # Others includes non scheduled airline operations, unallocated expenses, elimination and other income including rent concessions 13 Q1-FY22 Key Focus Areas 1. Cost Rationalisation •Continued focused on optimizing operating expenses •A&SP, Sales & marketing, SG&A and rentals 2. Liquidity Management •Focus on working capital management •Rationalize capex 3. Digital Imperatives •Expand Online catalogue •Increase use of data analytics •Fasten Omni Channel integration •Deepen partnerships with E-com players 4. Stores 2.0 •Create safe shopping experience •Adhere safety guidelines at stores •Contact-less payments Cost rationalisation Particulars (Rs Cr) Q1FY22 Q4FY21 Q1FY21 (QoQ%) (Y-o-Y %) Employment Cost 194 180 171 8% 13% A & SP 21 25 3 (14%) 574% Others expenses 131 203 101 (35%) 30% Total Opex 347 408 275 (15%) 26% Revenue 862 1407 222 (39%) 289%  Continued focused approach on optimizing operating expenses resulted in controlling costs during the quarter o Efforts on various cost control measures related to sales & marketing, general administration, rentals & others o The increase in opex in Q1FY22 is primarily due to increased level of operations 15 *Others include commission, freight, outsourcing cost, admin overheads and other expenses Net Debt increased while liquidity levels maintained  NWC higher vs Mar-21 mainly from inventory built-up due to lower sales in lockdown impacted quarter Particulars (Rs Cr) Jun'21 Mar’21 Jun'20 vs. Mar-21 vs. Jun-20 Net Working Capital (NWC) 1,209 1,117 1,550 92 (341)  Negative Cash flow for Q1FY22: Operating Cashflow at Rs. (108) Cr and Free Cashflow at Rs. (196) Cr  Net debt increased by Rs. 201 Cr. on a q-o-q basis, mainly due to operational & working capital requirement Particulars (Rs Cr) Jun'21 Mar'21 Jun'20 Vs Mar'21 vs Jun'20 Net Debt 1,617 1,416 1,827 201 (211) Net Worth 2,021 2,179 2,216 (158) (195) Net Debt / Equity (x) 0.80x 0.65x 0.82x - -  Liquidity position maintained at Rs. 600 - 650 Cr levels Particulars (Rs Cr) Jun’21 Mar'21 Jun’20 Cash & Cash 645 660 596 Equivalents 16 Digital Imperatives: The new norm of business Home Assist Strengthening 3rd party tie-up • Aggressive play on e-commerce marketplaces • Building trust & ease the consumer with over 2x options made available online journey even further • Home Assist Service offerings: Call-back, Virtual meeting, Video calls Omni Channel & commerce and store appointments • Integrating it with our online and offline offerings to reach out and take the store to the Made-To-Order (MTO) customer • Extension of 3D style advisory application • Customers get a 3D look with a feature of mix & match • Now available for DIY, PADIY, MTM and Denim • Offering in 45+ stores Own Website Virtual Tour in Real Estate • Revamped own website and launched: MyRaymond.com • Virtual interactive tour for potential customers • A large part of EBO offerings available on-line • Active engagement with customers by utilizing digital mediums 17 Stores 2.0 - Safety protocol at stores • Ensure safe & secured shopping experience for our customers • Includes sanitisation of trial rooms on a regular basis, post trial sanitisation of all garments & contactless payments 18 Branded Textile Particulars (INR Cr) Q1FY22 Q1FY21 Var Net Sales 283 17 266 EBITDA (21) (95) 75 EBITDA margin (7.3%) -  Recovery was hampered due to local lockdowns across the country impacting primary & secondary sales  However, the segment witnessed recovery in later half of June month as primary sales picked up with partial unlocking of states in a phased manner  EBITDA loss of Rs. 21 Cr 20 Branded Apparel Particulars (INR Cr) Q1FY22 Q1FY21 Var Net Sales 75 0 75 EBITDA (29) (38) 9 EBITDA margin (38.9%) -  Both trade and retail channels impacted primarily due to continued lockdowns  The EBO and LFS channels continued to be impacted as most of the malls across the country remained shut during the quarter  EBITDA loss of Rs. 29 Cr Exceptional Item: • Apparel business - Provision of Rs. 116.7 cr towards discount sharing with customers (trade receivables) and write-down of inactive category of inventories of Rs. 28.8 cr, severely impacted due to second wave of ongoing pandemic 22 Exclusive Retail Network 2.39 mn sq ft 2.35 mn sq ft 1,486 1,459 EBO 349 331 MTM 47 37 TRS 1,090 1,091 Mar’21 Jun’21  Our retail store network stands at 1,459 as on 30th June, 2021. The operational stores are adhering to all COVID-19 related guidelines.  Majority of the retail outlets were operating however with restrictions during lockdowns – limited hours on weekdays, weekend closures and opening on alternate days impacted footfalls leading to slower recovery in retail sales  Store rationalisation in progress to make the retail portfolio healthy o Net store closure at 27 vs Mar-21 24 Strong Distribution Network Branded Textile 5 6 • 20,000+ points of sale across 44 600+ cities and towns 12 29 37 2 • 180+ Wholesalers 48 • 1,360+ MBOs 2 68 160 11 1 • Across TRS - Tier I to VI towns 88 1 83 31 1 71 81 Branded Apparel 22 25 • Presence in 500+ cities & towns 209 • 332 EBOs • 5,425+ MBO Counters 75 • 1,050+ LFS doors 4 49 • Across TRS -Tier I - VI towns 99 • 379 mini-TRS as on Mar’21 4 106 • Present in 190+ Towns 38 Domestic Presence – 1,412 stores 25 Garmenting Particulars (INR Cr) Q1FY22 Q1FY21 Var Net Sales 98 100 (2) EBITDA 1 (6) 7 EBITDA margin 0.9% (6.1%)  Sales recovery was driven by gradual opening up of the global markets. However, the domestic plant operations were impacted due to local lockdown resulting in deferment of certain deliveries  EBITDA margin for the quarter at 0.9% 27 High Value Cotton Shirting Particulars (INR Cr) Q1FY22 Q1FY21 Var Net Sales 101 6 96 EBITDA 6 (17) 24 EBITDA margin 6.2% NA  Sales recovery led by higher number of orders from our B2B customers  EBITDA margin for the quarter at 6.2% The results shown above are for 100% operations and include minority interest 29 Tools and Hardware Particulars (INR Cr) Q1FY22 Q1FY21 Var Net Sales 110 20 90 EBITDA 12 (14) 26 EBITDA margin 11.3% NA  Net Sales mainly driven by exports in key markets of LATAM, Africa & Asia  EBITDA margin for the quarter at 11.3% The results shown above are for 100% operations and include minority interest 31 Auto Components Particulars (INR Cr) Q1FY22 Q1FY21 Var. Net Sales 70 21 49 EBITDA 11 (1) 12 EBITDA margin 15.9% (4.2%)  Sales mainly driven by exports market and well supported by recovery in auto sector in the domestic market  EBITDA margin for the quarter at 15.9% The results shown above are for 100% operations and include minority interest 32 Raymond Realty – Go Beyond Raymond’s maiden venture into Real Estate  Overall 20 acres of residential development Project − Phase 1: ~14 acre of development Phase 1 - Project  Total 10 towers with ~2.8 mn sq.ft of saleable area Details  Total units planned for sale: 3,120 | 2BHK: 2,466; 1BHK: 654  Bookings in Q1FY22 of 61 units, impacted by local lockdowns for majority of the quarter Q1 Highlights  Cumulative bookings till Jun-21: 1,448 Units  Sales drivers in Q1: Fast paced construction, active engagement with customers through digital mediums and lower home loan rate  Construction linked milestone: Paid by majority of the customers (~90%) 34 Construction Update – Current Status Site images  Tower 1, 2 & 3: 42nd floor slab WIP; Tower 4: 30th floor WIP  Tower 5, 6 & 7– 2nd floor slab work in progress Tower 8: 1st slab WIP  Tower 9 & 10: Columns above foundations WIP 35 Financial Update – KPI’s KPI's Till Mar-21 Q1FY22 Till Jun-21 Bookings: No. of bookings 1,387 61 1,448 Area (mn sq. ft.) 1.18 0.06 1.24 Value of Bookings (Rs Cr) 1,324 62 1,386 Customers Collection (Rs Cr) 481 147 628 P&L Snapshot Particulars (INR Cr) Q1FY22 Q1FY21 Var Net Sales 130 5 125 EBITDA 38 (1) 39 EBITDA margin 29.0% - *Revenue recognition based on percentage completion method based on Ind AS 115 36 Co- Creators Master Architect Structural Consultant Interior Designer Construction Contractor Landscape Green Consultant 38 Current Status of Operations & Outlook • Witnessing recovery in the primary sales due to phase-wise unlocking of the states with ease of lockdown restrictions and improving status of vaccination. However, concerns of 3rd Covid-19 wave making trade channel cautious in buying large quantities • Higher presence of TRS in high-street and lower tiers aided moderate recovery despite majority of retail network continue to operate with limited store timings on weekdays and weekend closures impacting footfalls leading to overall slower recovery in sales. Recovery in LFS is low due to continue closure of malls • Exports market is witnessing recovery in B2B businesses of Garmenting and Engineering businesses of Tools & Hardware and Auto Components with healthy order book as global economies are opening up with steady growth in demand • Construction activity in our Real Estate business is in full swing in compliance with all the relevant guidelines • Liquidity: Continued focus on liquidity management through cost reduction initiatives, NWC optimization and capex reduction 40 Chairman & Managing Director on Q1FY22 performance “The quarter gone by was a difficult one as it was severely impacted by the second wave of pandemic. However, we were able to handle the situation better with past learnings and closed the quarter with higher revenues. The consumer sentiments were seen positive during the month of June with higher number of wedding dates. We were able to maintain strong profitable momentum in our Engineering business as we focused on the exports as domestic market was impacted due to lockdown. Rapid construction in our Real Estate business is seen as trigger by our consumers and aided the topline. With vaccination drive gaining pace, we are cautiously optimistic of consumer demand picking up with upcoming festival Gautam Hari Singhania and wedding season.” Chairman and Managing Director 41