For the quarter that ended in March, Raymond Ltd. recorded a consolidated net profit of 194.35 crore, a 26% decrease from 263.31 crore in Q4FY22. On the BSE, Raymond’s share price ended the day on Tuesday at 1,599.55, up 12.85 or 0.81%.The company’s combined operating revenue for the three months ending in March increased 9.8% year over year to 2,150.18 crore from 1,958.10 crore during the same period the previous year.The board has also suggested paying a dividend of 30% on the equity share capital, or $3 per equity share with a face value of $10, according to the company’s exchange filing.

The corporation continued, “The dividend, if approved by the shareholders, will be paid on or after Tuesday, July 11, 2023.”

The business recorded record sales. According to the company’s exchange report, and EBITDA in the historic year FY23 reached 8,337 crore and 1,322 crore, respectively. As a result of great momentum and a strong performance, Raymond saw a healthy double-digit gain of 31% over the course of the year.

“FY23 has been a year of exponential development, as we more than quadrupled our net profit from the prior year and all of our companies had excellent revenue growth as well. The recent corporate action announcements will support the company’s future with a clear focus on B2C lifestyle business and real estate industry, as we have mapped out a clear roadmap for continuous growth. I am happy to announce that these two new organisations will have zero net debt and are set to continue our commitment to increase shareholder value. to reach new heights,” the company’s chairman and managing director, Gautam Hari Singhania, stated in a news statement.

Two independent, net debt-free listed entities with pure play B2C lifestyle and real estate businesses will now exist as a result of the recent corporate actions taken by the firm to demerge the Lifestyle firm. Each of these entities will have a sizeable cash surplus at the Group level to enable future growth.