Raymond Lifestyle Limited — Investor Meet, 04-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Raymond Lifestyle’s Q2/H1 FY26 earnings call highlighted robust domestic demand, driving revenue growth for the quarter and half-year by 8% to INR1,865 Cr and 12% to INR3,340 Cr, respectively. Branded Textiles performed strongly (Q2 revenue +10%, H1 +17%) fueled by festive/wedding demand and new collections.

Exports faced headwinds from US tariffs, impacting garmenting and high-value shirting. Branded apparel margins were affected by increased marketing spend and new store costs, with new stores expected to mature in 36-42 months. Ethnix store expansion is being rationalized, prioritizing Tier 1/2 cities. Management remains cautiously optimistic, focusing on cost optimization and leveraging India's domestic growth opportunities.