Raymond Share: A Look Inside the Fabric of Resilience

Explore how Raymond Share weathered a ransomware attack and weak demand in FY25, and what signals its rebound in FY26.

📉 Raymond Share and the Q4FY25 Performance Dip

The last quarter of FY25 was not easy for Raymond Lifestyle. The numbers were clear — revenue fell by 11.3% year-on-year to Rs 14.94 billion. Behind this dip lay a blend of economic stress, high inflation, and a disruptive ransomware attack that brought operations to a grinding halt.

The impact trickled into Raymond’s balance sheet and share performance. Raymond Share saw volatility in the markets, reflecting concerns about recovery timelines and sector headwinds. But beneath the surface, there’s more than just numbers — there’s strategy, and there’s hope.

🦠 The Ransomware Attack and Its Ripple Effect on Raymond Share

The cyberattack in Q4FY25 left Raymond struggling for nearly 25–26 days. Operations were disrupted, leading to losses of Rs 1.5–1.75 billion in sales and a substantial dent in profitability.

Yet, the resilience was visible. About 50% of the lost sales were recovered during the quarter, and the company expects the rest to bounce back over the next 6–8 months. This event tested the brand’s agility, and the quick recovery of systems speaks volumes about Raymond’s internal capabilities.

👕 Raymond Share Insights: Segment-Wise Breakdown

Let’s take a closer look at the major segments and how they influenced the Raymond Share sentiment.

👔 Branded Textiles

Revenue dropped by 21% YoY to Rs 7.27 billion. A challenging retail environment and the cyberattack led to scale inefficiencies. EBITDA margin plunged to 7% from 21.8% the previous year — a significant contraction that weighed on investor confidence in Raymond Share.

👚 Branded Apparel

This vertical saw a smaller dip — just 4.3% — with revenue at Rs 3.9 billion. But with heavy investments in store expansion (35 new outlets in Q4FY25), EBITDA margin shrank to just 0.4%, a sharp fall from 13.5%. This short-term pain reflects the company’s aggressive growth push.

✂️ Garmenting

A mere 0.6% decline in revenue suggests some stability. But international factors like US tariffs made clients hesitant, and new manpower training led to losses. EBITDA margin slid into the red at -2.9%, pressuring the Raymond Share from a global exposure perspective.

🧵 High-Value Cotton Shirting (HVCS)

Revenue fell 13.3%, but margins jumped to 33.1% due to a one-time subsidy of Rs 530 million. Without it, the segment was under pressure, like the rest of the company.

🏬 Raymond’s Retail Network and Ethnix Expansion

Raymond is actively growing its retail network, which now includes 1,688 stores, with 152 of them under the Ethnix brand. Ethnix by Raymond, focused on traditional menswear, is evolving — slowly, but steadily.

While only 34 net new stores were added instead of the planned 80, the shift to a franchise-led model is a strategic move to manage costs and scale sustainably. The target is to reach 300 Ethnix stores over the next 3–4 years.

This pivot is critical for the long-term health of the brand and could help improve profit margins, positively influencing the outlook on Raymond Share.

💹 Raymond Share and the FY25 Financial Snapshot

Here’s a quick look at the FY25 performance that impacted Raymond Share movement:

Revenue: Rs 61.77 billion (↓ 5.5% YoY)
Adjusted PAT: Rs 1.0 billion (↓ 79.4% YoY)
EBITDA Margin: 7.6% (↓ from 14.3%)
Net Cash Position: Rs 900 million
Inventory & Receivables: Under control, leading to reduced working capital cycle

Despite these setbacks, Raymond continues to remain debt-free and operationally stable, which gives hope for a turnaround — something that Raymond Share investors are eyeing keenly.

🌍 Global Strategy and the Garmenting Opportunity

Raymond’s Garmenting division may have struggled short-term, but the strategic groundwork is being laid for global expansion. With over 20 new international clients and a growing base in the US, UK, and Europe, Raymond is setting itself up to benefit from shifting trade dynamics.

The FTA with the UK presents a pricing advantage
US tariff differences against China favor Raymond
Its integrated supply chain — from yarn to retail — is a unique edge

This global push can be a long-term catalyst for growth in Raymond Share value.

💡 Positive Signs: What FY26 Holds for Raymond Share

April 2025 has already shown promising signs. Bookings are picking up, especially in Branded Textiles and Apparel. Secondary sales are strong, and the company is seeing restocking from dealers — always a good early indicator.

The management expects:

12–13% growth in FY26 bookings
EBITDA margins to return to 14–15% levels
Wedding season demand to lift Ethnix sales
Rest of ransomware sales loss to recover in H1 FY26

With this momentum, Raymond Share could see a stabilizing trend as confidence returns.

❤️ Raymond: A Brand Beyond Numbers

Raymond isn’t just another stock ticker or balance sheet figure. For millions of Indians, it’s about the first suit, the perfect wedding sherwani, or the interview shirt that made all the difference.

Every dip in Raymond Share reminds us not of decline, but of a company adapting, evolving, and re-stitching its legacy thread by thread.

🧭 Final Thoughts: Raymond Share in FY25 – A Pause, Not the End

Yes, FY25 was tough. Revenue dropped, margins shrunk, and challenges were plenty. But what stands out is Raymond’s response — thoughtful, strategic, and full of intent.

Raymond Share, though shaken by temporary issues, stands rooted in a long-term story of recovery and strength. The pieces are falling into place — all that’s needed now is time.