Raymond Lifestyle (RAYMONDLSL) Q4 23/24 earnings summary

Executive summary

• FMCG business sold to Godrej Consumer Products for ₹282,500 lakh; sexual-wellness manufacturing was excluded from the sale. The transaction drove most of FY24 reported profit.

• Strategic direction shifted toward textiles and apparel, with a composite arrangement proposing transfer of the lifestyle business and eventual listing of equity shares.

Financial highlights

• FY24 continuing revenue from operations was ₹8,281.76 lakh vs ₹12,970.72 lakh in FY23; continuing profit before tax was ₹19,366.75 lakh vs ₹3,120.21 lakh.

• Continuing profit after tax was ₹14,517.33 lakh vs ₹2,305.88 lakh; continuing basic EPS was ₹97.43 vs ₹15.48 after the 1:5 share split.

• Total FY24 profit before tax was ₹286,584.10 lakh and net profit ₹220,423.92 lakh, including ₹266,683.75 lakh gain on sale of discontinued operations.

• Discontinued operations recorded FY24 revenue of ₹4,367.21 lakh and operating profit of ₹533.59 lakh; sale proceeds were ₹282,500 lakh.

Outlook and guidance

• The proposed scheme covers demerger of the lifestyle business into the entity, amalgamation of Ray Global Consumer Trading Limited, and listing of equity shares; creditor approval was obtained and NCLT sanction remained in process at the report date.

• The name-change resolution to Raymond Lifestyle Limited was approved by members on April 4, 2024; MCA approval was pending at the report date.