© Raymond Limited

Disclaimer
This document is just a presentation and is not intended to be a “prospectus” (as defined under the
Companies Act, 1956, as amended from time to time, and/or the Companies Act, 2013). This 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 by or subscription for
securities in any jurisdiction, including the United States. 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.

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 any auditors or by the Board of Directors of the Company. The Company assumes no
responsibility and does not provide any warranty to the accuracy or comprehensiveness of the
information contained in this presentation.

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.
2 of 34 © Raymond Limited 2
Table of Contents

Slide
• Contents

4-6
• Market Overview

7-19
• Raymond Group Evolution & Business Model

20-28
• Financial Performance

29-30
• Strategic Thrust Areas

31-33
• Board Composition

3 of 34 © Raymond Limited
MARKET OVERVIEW

4 of 34 © Raymond Limited
Market Opportunity

Household income ( INR ‘000)

300 Household
248
200
income levels are
82
140 expected to
100 60
increase leading
0 to higher
1995 2005E 2015E 2025F disposable
Household income
Source: Mckinsey Global Institute incomes

Market Size (INR billion)

1000 937 CAGR 10%
715 CAGR 11%
800 909
556
600 Men’s wear
359 668
CAGR 11%
400 497 accounts for
439
200 327
225
311 more than 40% of
149
0 the market share
2006 2007 2008 2009 2010 2011 2012 2016E
Mens Wear Womens wear Kidswear
Source: CARE Research, Apparel Industry report – April 2013

5 of 34 © Raymond Limited 7
Relevant Trends

Urbanisation
& Rise of lower
Towns & cities

Income
Transparency/ Growth &
Trust in Offer Shift

Shopping
Value Added Experience
Retail/Services

Customisation Women/
& Youth
Personalisation

6 of 34 © Raymond Limited
RAYMOND GROUP EVOLUTION
& BUSINESS MODEL

7 of 34 © Raymond Limited
Raymond Group

 Nine decades old group, in operation since1925

Background &
History  One of India’s leading conglomerates in the Branded Lifestyle space

 One of India's largest branded fabric and fashion retailer, with some of the
Brands
best brands in its portfolio

 Product offering across all price points

 One of largest exclusive retail networks in textile & fashion space in India
Retail Network
 Deep distribution network, spread across the country

Integrated
Operations
 One of the few companies that is integrated across value chain

Product Quality  The Group has state of art manufacturing facilities across all its businesses

8 of 34 © Raymond Limited
 Historical Evolution of Business (1925-2014)

2005
2009
Set up of jeans-wear
Vapi Phase III
garmenting facility
commenced
Everblue Apparel
commercial
Ltd 2012
production
1925 1958 1986 2002 Set up of Relocation 2014
Celebrations Super 240s of Thane
Set up of First Exclusive Launch of Park Acquisition of Makers
Apparel Ltd for fabric launched Plant to
Raymond Raymond retail Avenue ColorPlus crossed Rs. 1
manufacturing of – a world Jalgaon and
Woollen mill in outlet at Ballard bn mark
formal shirts record Vapi
Thane Estate

1925 1950 1958 1968 1986 1996 2002 2003 2005 2006 2009 2011 2012 2013 2014

1950 1968 1996 2003 2006 2011 2013

Setup of JK Files
Set up of Launch of Setup of Silver Spark Setup of 3rd Thane settlement Raymond
and Tools for
readymade Raymond Apparel Ltd for worsted unit at during FY 11 Premium Apparel
manufacture of
garments plant Denim manufacturing suits Vapi; combined crossed Rs. 1 bn
engineering files
at Thane and formal trousers capacity of Regional launch of mark
31mmts ‘Makers’ brand in
the value for Pan-India launch
Setup of Raymond
money fabric of ‘Makers’ brand
Zambaiti, a
segment
greenfield high
value cotton 600th TRS outlet
shirting unit at opened
Kolhapur

8
9 of 34 © Raymond Limited
Brand Positioning & Size

FY 14 Sales

Fabric Formal wear Casual wear

Super
Premium

Rs 16175 mn Rs 389 mn
Premium Rs 2096 mn
[domestic only] Rs 1404 mn (Mid premium)

Formal Casual
Rs 3341 mn
Rs 1178 mn
Popular / Mass segment (Mid premium)
Rs. 1024 mn
Source: ColorPlus internal data; Technopak Advisors, June 2007; CRISIL research

Strong portfolio of Fabric and Apparel brands and accessories that straddle across
various price points
10 of 34 © Raymond Limited
 Brand Recognition & Awards in past few years
India's Most Trusted Apparel Brand, Brand Trust Report
India Study-2014

Most Admired Companies in India 2013-Fortune Magzine

Impactful Retail Design and Visual Merchandising -

Asia Retail Congress 2013

Most Trusted Apparel Brand -Brand Asset Valuator

2013 appeared in Economic Times, Brand Equity

Most Innovative Retailer of the Year 2012

 Most Admired Men’s Formalwear Brand for 2011

The Business world Most Respected Company Award

2011 in the Apparel & Textile category

Images Fashion Awards 2011 – Most Admired Men’s

Formal-wear Brand of the Year © Raymond Limited
16 11 of 34
Retail Thrust
Retail Network
 One of the largest exclusive retail
1200 TRS- India incl MTM TRS- Overseas EBO
networks in the textile and apparel
934 956 space in India
1000 853
739 208 189
800 169  Thrust on smaller towns & cities (Tier
149 43 3/4/5)
600 41
39
40
400
645 685 724  Unique asset light franchisee model
550
200

0
TRS
FY11 FY12 FY13 FY14 Town Class Total* Balance
Presence
Retail Space CLASS 1 7 7 0
Retail space (000' sq ft) CLASS 2 28 28 0
2000
1841 CLASS 3 41 41 0
1500 1674 1787
1524 CLASS 4 313 226 87
1000 CLASS 5 395 85 310

500 Grand Total 784 387 397

The above table shows the untapped opportunity
0
that lies in class 4 & 5 towns
FY11 FY12 FY13 FY14
*As per 2001 census
12 of 34 © Raymond Limited 22
1313
ofof
3434 © Raymond Limited 23
14 of 34 © Raymond Limited 23
15 of 34 © Raymond Limited 23
16 of 34 © Raymond Limited
17 of 34 © Raymond Limited 23
Fabric Manufacturing Facilities

Sym Production Capacity in

INDIA bol & Location millions (mn)
Worsted 38 mmpa
Jalgoan
Vapi
Chinndwara
Denim 47 mmpa
Yavatmal
Chhindwara Romania
Vapi
Shirting 21 mmpa
Yavatmal Kolhapur
Jalgoan Kolhapur Garmenting 5.37mn pcs pa

Bangalore

Bangalore

18 of 34 © Raymond Limited 5
 Integrated Operations across Value chain

Fibre Fabric Garment Brands Retail

Wool Worsted Suitings Shirts Raymond The Raymond Shop

Polyester Premium Suitings Trousers Park Avenue Park Avenue EBO

High Value Parx EBO

Viscose Suits Parx
Cotton Shirting

Cotton Denim Colorplus Colorplus EBO

Made to Measure

Comprehensive Control over Assured Superior Diversification of

Product Offering Product Quality Supply Profitability Risk

19 of 34 © Raymond Limited
19
FINANCIAL PERFORMANCE

20 of 34 © Raymond Limited
Consolidated Financials – Last 4 Years
All amounts in Rs. Mn.

EBIT EBIT Margin

4000 10.6% 10.1% 7.8% 12.0%
10.0%
3000 6.3%
8.0%
2000 3694 6.0%
3230 3568
2562 4.0%
1000
2.0%
0 0.0%
FY11 FY12 FY13 FY14
SALES
30359 36424 40692 45480
Rs. Mn

ROCE 11% 12% 8% 11%

21 of 34 © Raymond Limited
 Initiatives taken in last few years
Garmentin
Textiles Apparel Retail Garmenting
g

 Makers brand launched  RPA brand launched in  Rapid retail store  Export to marquee
in FY 2011 to cater to FY 2011 opening over last 5 customers across
economy segment  Raymond Made to years the globe
 Summer cool wool Measure launched in  Increasing mix of  Capacity expanded
Growth collection launched FY 2011 stores in smaller over the years to
recently towns and cities meet customer
 Increasing mix of requirements
outsourcing
 High cost Thane plant  Discontinued non  Closure of non-  Made to Measure
shut performing / kids performing stores line in Bangalore
 Relocated Thane brands
Efficiency operations to Vapi &  ColorPlus plant shut
Jalgaon  Centralized S&D team
 Supply Chain Mgt

22 of 34 © Raymond Limited
6
 Consolidated Sales & Profitability Mix
SALES - FY14
Auto Others &
Tools & Components
Hardware Elim
5% -5%
9%
Textiles
Garmenting 44%
9%

Denim &
Shirting Branded
16% Apparel
20%
EBIT - FY14

Auto
Others & Elim
Components
-28%
4%

Tools &
Hardware
10% Branded Textiles
Apparel 88%
Garmenting
13% 2%
Denim &
Shirting
11%

23 of 34 © Raymond Limited 15
Branded Textiles

Sales EBIT Margin All amounts in Rs. Mn.

25000 25.0%
20.4%
13.9% 15.5%
20000 17.7% 20.0%

15000 15.0%

10000 18771 20186 10.0%

16834
13811
5000 5.0%

0 0.0%
FY11 FY12 FY13 FY14

 Raymond is No. 1 player in worsted suiting's in India

24 of 34 © Raymond Limited 16
Branded Apparel

Sales EBIT Margin All amounts in Rs. Mn.

10000 8.8% 10.0%
7.8%
8.0%
8000 0.8%
6.0%
6000 4.0%
8677 8295 8971 2.0%
4000 7260
0.0%
2000
-2.0%
-1.6%
0 -4.0%
FY11 FY12 FY13 FY14

 Strong portfolio of owned brands

 Well positioned to target different segments

25 of 34 © Raymond Limited 16
Garmenting

Sales EBIT Margin All amounts in Rs. Mn.

4500 13.1% 14.0%

10.8%
4000 12.0%
3500 12.3%
3000 10.0%
6.6% 8.0%
2500
2000 4191 6.0%
1500 3141
4.0%
1000 1856
500 1437 2.0%
0 0.0%
FY11 FY12 FY13 FY14

 Trusted by reputed international and domestic customers

 Manufacturing support to in-house apparel brands

26 of 34 © Raymond Limited
Denim & Shirting
Denim All amounts in Rs. Mn.
Sales EBIT Margin
15000 8.0%
5.8%
7.1% 6.0%
10000 5.1%
2.9%
4.0%
5000 8504 9553
6427 8071 2.0%
0 0.0%
FY11 FY12 FY13 FY14

Shirting
Sales EBIT Margin

4000 7.4% 8.0%

5.2%
5.6% 4.3%
3000 6.0%
2000 4.0%
2969 3370
1000 2118 2290 2.0%
0 0.0%
FY11 FY12 FY13 FY14

27 of 34 © Raymond Limited
Engineering Business
Tools & Hardware All amounts in Rs. Mn.
5000 Sales EBIT Margin 20.0%
15.1%
4000 15.0%
9.5%
3000 9.2% 8.5%
10.0%
2000 3855 4303
3246
1000 2588 5.0%

0 0.0%
FY11 FY12 FY13 FY14
Auto Components
3000 Sales EBIT Margin 15.0%
11.9%
11.1% 7.8%
2000 10.0%
6.4%

1000 2249 5.0%

1398 1663 2427

0 0.0%
FY11 FY12 FY13 FY14

28 of 34 © Raymond Limited
STRATEGIC THRUST AREARS

29 of 34 © Raymond Limited
Continue to Strengthen Integrated Business model
 Modernize & expand Exclusive Retail Network

 Expansion of Made to Measure product line

 Capitalize on Shirting fabric business opportunity

Market Access &

Leadership

 Supply Chain benefits

 Exports in Fabric &
 Margin improvement Operational Global
Garmenting business
program Efficiencies Footprint

 Monetize non-core assets

Brand Focused
Approach

 Sharpen Brand strategy and positioning

 Two mega brands out of four power brands in our portfolio

 Enhance Consumer experience

30 of 34 © Raymond Limited
BOARD COMPOSITION

31 of 34 © Raymond Limited
Board of Directors

Key Executive Background

Shri Gautam Hari  Was appointed the Whole-time Director on the Board of Raymond Ltd. in
Singhania 1990 and was elevated to the position of Chairman & Managing Director in
2000
 Has steered Raymond Limited with a single-minded focus of being the best
brand in India

Dr.Vijaypat Singhania  Has nearly four decades of experience in the management of several industrial
units as the Chief Executive, even before his current position
 Has been instrumental for the successful growth and diversification plans of the
Company

Smt. Nawaz Gautam  Entrepreneur with knowledge in General Corporate Management

Singhania

Shri I.D. Agarwal  Has 37 years of experience in Banking, Finance and Currency, Former
Executive Director, Reserve Bank of India, was an Advisor to the United
Nations and has been the Director of Small Industries Development Bank of
India

32 of 34 © Raymond Limited
Board of Directors

Key Executive Background

Shri Nabankur Gupta  Joined the Company as Group President on August 1, 2000 and was co-
opted on the Board of Directors of the Company as Whole-time Director
and Group President effective January 15, 2001
 Was the first Indian to receive recognition by the Advertising Age
International, New York, in 1995 with the title of ‘Marketing Superstar‘
Shri Pradeep Guha  Associated with the print medium for 29 years and was President of The
Times of India group

Shri Boman Irani  He is the Chairman & Managing Director of Rustomjee Group
 Leading Real estate developer and leader in construction industry. He is
a first generation entrepreneur

Shri H. Sunder  Has over 26 years of experience in finance, taxation, accounts, legal,
secretarial areas, international business and general corporate
management
 He is the Whole time director since July, 2011 and President – Corporate
Affairs since 2012. He has been with the Company for over 14 year

33 of 34 © Raymond Limited
WWW.RAYMOND.IN
WWW.RAYMOND.IN
3434
ofof
3534 © Raymond Limited