Raymond Ltd reported a 25.84% fall in net profit to Rs 196.48 crore in Q4 of the last fiscal against Rs 264.97 crore in the March 2022 quarter. The firm logged a 9.8% rise in sales to Rs 2150.18 crore in the March 2023 quarter against Rs 1958.10 crore in the March 2022 quarter.
The Board of Directors has recommended equity dividend of Rs 3 per share of face value of Rs 10 each (Previous year off Rs 3 per share) for the financial year 2022-23.
On an annual basis, net profit zoomed 6.8% to Rs 1289 crore for the fiscal ended March 2023. Sales climbed 33% to Rs 8214.72 crore in the March 2023 fiscal against Rs 6178.51 crore for the fiscal ended March 2022.
Meanwhile, the Raymond stock was trading flat after Q4 earnings were announced. The stock lost 0.08% to Rs 1588 against the close of Rs 1586.70 in the previous session. In the current session, Raymond stock opened at Rs 1600.50 on BSE. It also hit an intraday high of Rs 1625, rising 2.41% on BSE. Market cap of the firm stood at Rs 10,571 crore.
Total 0.21 lakh shares changed hands amounting to a turnover of Rs 3.34 crore on BSE. Raymond stock has gained 102.7% per cent in a year and risen 8.67 per cent in 2023. Raymond stock hit a 52-week low of Rs 738.95 on May 12, 2022 and a 52-week high of Rs 1755.25 on April 27, 2023.
In terms of technicals, the relative strength index (RSI) of the stock stands at 62.8, signaling it’s trading neither in the overbought or oversold zone. Raymond shares have a beta of 1.1, indicating high volatility in a year. Raymond stock is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The company operates in the textile and apparel sector and other segments like consumer care and engineering.
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