Revenue from operations reached ₹1,515.51 crore in Q1 FY27, up 5.95% year-on-year from ₹1,430.43 crore in Q1 FY26. Nonetheless, there was a quarter-on-quarter decline of 14.69%.
The company attributed this performance to premium offerings in the domestic market and recovery in the Garmenting segment, boosted by the rationalisation of tariffs between the US and India as well as the implementation of the UK Free Trade Agreement (FTA), leading to a robust order book.
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Branded Textile segment
The Branded Textile segment reported revenue of ₹684 crore in Q1 FY27, down from ₹699 crore a year earlier due to a base effect. EBITDA was recorded at ₹95 crore compared to ₹107 crore in the same quarter last year, with margins decreasing to 13.9% from 15.3% due to scale deleverage. Despite inflationary pressures on raw materials, the overall product mix remained robust.
Branded Apparel segment
The Branded Apparel segment saw revenue rise by 4% year-on-year to ₹349 crore, up from ₹335 crore. Casual brands experienced double-digit growth, while large format stores (LFS) and online channels reported significant high double-digit growth. Segment EBITDA decreased to ₹18 crore from ₹26 crore in Q1 FY26, with the EBITDA margin falling to 5.1% from 7.8% due to a less favorable channel mix.
Garmenting segment
The Garmenting segment achieved a 50% year-on-year revenue increase to ₹296 crore, up from ₹197 crore. EBITDA improved to ₹22 crore from a loss of ₹8 crore in the previous year, with an EBITDA margin of 7.3% compared to a negative 4.1% earlier. This success is attributed to effective order book execution resulting from US-India tariff rationalisation and engaging new global clients.
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High Value Cotton Shirting
The High Value Cotton Shirting segment reported revenues of ₹195 crore, down from ₹205 crore in Q1 FY26 due to a base effect. EBITDA held steady at ₹19 crore, with an improved EBITDA margin of 9.7% compared to 9.1%, thanks to a better product mix despite rising raw material costs.
Emerging Business segment
The Emerging Business segment, which includes Ethnix by Raymond, Raymond Home, Park Avenue Innerwear, Chairman’s Collections, and Sexual Wellness, reported a 9% year-on-year revenue growth to ₹79 crore from ₹73 crore. The company continues to implement a tactical investment strategy for this segment to foster long-term growth.
Raymond Lifestyle’s retail network comprised 1,627 stores as of June 2026, down from 1,675 stores as of June 30, 2025, as the company focused on retail footprint optimisation. The recently opened stores are maturing and gaining momentum.
During the quarter, Raymond Lifestyle maintained a debt-free status, with a net cash surplus of ₹154 crore in Q1 FY27, compared to a net debt of ₹55 crore in Q1 FY26.
Satyaki Ghosh, Wholetime Director and CEO of Raymond Lifestyle Ltd, stated, “Building on our solid foundation from FY26, Q1 FY27 has demonstrated steady performance characterized by strong international traction and sustained domestic demand.
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Our Garmenting business recorded remarkable growth exceeding 50%, showcasing the strategic advantages offered by global trade dynamics, such as the US-India tariff rationalisation and anticipated FTAs with the UK and EU. While short-term macroeconomic challenges and heightened raw material costs have impacted overall margins, our resilient product mix, debt-free balance sheet, and strong net-cash position of ₹154 crore provide us substantial operational flexibility.
As we progress through the year, we remain dedicated to fortifying our brands, innovating our premium and casual product lines, enhancing retail maturity, and executing our long-term ESG and digital priorities to create sustainable stakeholder value.”
Shares of Raymond Lifestyle Ltd closed at ₹709.60, down ₹23.10, or 3.15%, on the BSE.
