Corporate Presentation

September 2010
September 2010
 DISCLAIMER
1
1. Numbers mentioned in this note in respect of half year consolidated revenues and results and
additional information including but not limited to retail sales, branded sales etc. but other than
Raymond Ltd. Standalone financial results have been compiled by the management and are being
provided only by way of additional information. These are not to be construed as being provided
under any legal or regulatory requirements. The accuracy of this information and provisional
quarterly
l consolidated
lid d numbers
b have
h neither
i h been
b vetted
d nor approved
d by
b the
h Audit
di Committee
C i and
d
the Board of Directors of Raymond Ltd., nor have they been vetted or reviewed by the Auditors, and
therefore may differ significantly from the actual. The Company assumes no responsibility for the
use of information mentioned herein.

2. Statements in this “Presentation” describing the Company’s objectives, projections, estimates,

expectations or predictions may be “forward looking statements” within the meaning of applicable
securities laws and regulations. Actual results could differ materially from those expressed or implied.
Important factors that could make a difference to the Company’s operations include global and Indian
demand supply conditions,
conditions finished goods prices,
prices input material availability and prices,
prices cyclical
demand and pricing in the Company’s principal markets, changes in Government regulations, tax
regimes, economic developments within India and the countries within which the company conducts
business and other factors such as litigation and labor negotiations. The Company assumes no
responsibility to publicly amend, modify or revise any forward looking statement, on the basis of any
subsequent development, information or events, or otherwise.

NOTE
All financials and value market size numbers for all years,
years in this presentation,
presentation are converted into USD
at an exchange rate of USD 1 = INR 47

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ABOUT RAYMOND GROUP
ABOUT RAYMOND

3
 ABOUT RAYMOND GROUP

Overview

Eight decades old group, in operation since 1925

One of India's largest branded fabric and fashion retailer

Market leader in the worsted fabrics business with over 60% market share
Second largest branded apparel business in India
Owns award winning brands like Raymond, Park Avenue, Colorplus, Parx

One of the largest exclusive retail networks in the textile and fashion space in India
Large India focus, with more than three fourth of revenues from domestic market

Raymond Ltd, the flagship company of the group, is listed on BSE and NSE

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 FULLY INTEGRATED ACROSS THE VALUE CHAIN

Fibre Fabric* Garment* Brands Retail

Wool  Worsted  Shirts Raymond TRS

Suitings
Polyester Trousers Park Avenue 
Premium  Park Avenue
EBO
Viscose Suitings
ii Jackets
Parx Parx EBO
High Value 
Cotton  Cotton Shirting Full Suits
Colorplus Colorplus EBO
Denim  T d
Tuxedos Made to 
Manzoni
Measure
Woolen  Jeans
Park Avenue  Neckties & 
Outerwear Women More
Shawls
Accessories Shirts & More

*Refer Annexure 1 & 2 for Capacity Information
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 FINANCIAL PERFORMANCE (CONSOLIDATED)
N t S l (USD )
Net Sales (USD mn) EBITDA (USD )
EBITDA (USD mn)
600 544 544 80
510 68 71 71
500 70
434 56
60
400 364
50
300 40
30
200
00 30
20
100
10
0 0
2005‐06
2005 06 2006‐07
2006 07 2007‐08
2007 08 2008‐09
2008 09 2009‐10
2009 10 2005‐06
2005 06 2006‐07
2006 07 2007‐08
2007 08 2008‐09
2008 09 2009‐10
2009 10

Issues
ERP roll out
Denim business 
Successful resolution of all issues has enabled the company to 
turnaround and has put it back on a profitable track Issues
GAS joint venture
Denim business
Denim business 
Forex losses

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STRATEGIC THRUST AREAS
STRATEGIC THRUST AREAS

7
 STRATEGIC THRUST AREAS

Strong thrust on our core business areas of Branded Fabrics and Apparel

Immediate expansion plan in high value cotton shirting fabric business – current 

capacity 11.5 mn meters p.a. to be increased to 21.6 mn meters
Aggressive retail thrust last year initiated a plan
Aggressive retail thrust – last year initiated a plan to add 289 stores by 2011 (128 
to add 289 stores by 2011 (128
new stores opened since then upto June 2010)

Address the dual manufacturing cost at Thane and Vapi ‐ potential margin increase 

Address the dual manufacturing cost at Thane and Vapi potential margin increase
in Textiles business of 3‐4% per annum

Focus on profitable growth across businesses

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 MARKET SIZE AND OPPORTUNITY
Market Size  (Rupees billions) Share of average household consumption
120%
900 100%
800 842
700 CAGR 9% 80% 39%
54% 61%
600 60% 70%
500 539
446 481 40%
400 383 CAGR 8% 61%
300 331 20% 46% 39% 30%
200 192 225 0%
158 181
100 28 30 35 CAGR 13%
21 65 1995 2005E 2015E 2025F
0
2006
006 2007
00 2008
008 2009
009 2014
0 NecessityDiscretionary
Discretionary 
Mens Wear Womens wear Kidswear Spending
Source: Mckinsey Global Institute
Source: KSA Technopak

• Large domestic market opportunity The spending habits of the consumers are moving to 

j p
• Men’s wear accounts for a major portion of the market discretionary led rather than necessity led, driven by 
lifestyle shifts
Household income Rs. in '000
300 Source: Mckinsey Global Institute
250
248
200
150 140
100
82
50 60
0
Household income levels are expected to  1995 2005E 2015E 2025F
i
increase leading to higher disposable incomes 
l di t hi h di bl i
Household income

9
 BRAND STRENGTH
Brand salience ‐ Spontaneous recall
Brand salience  Spontaneous recall
Brand salience ‐ Top of mind recall
60 120

50 100

40 80
30 60
20 40
10 20
0 0
Raymond Vimal Gwalior Siyaram Reid &  Mayur Dinesh Raymond Vimal Gwalior Siyaram Reid &  Mayur Dinesh
Taylor Taylor

May‐June’09 Jul‐ Sept’09 Oct – Dec’09 Jan – Mar’10 May‐June’09 Jul‐ Sept’09 Oct – Dec’09 Jan – Mar’10
Source: TNS Global Market research Source: TNS Global Market research

“Raymond” has maintained its leadership position in brand track studies as compared to its 
competitors

“Park Avenue” won the award for ‘Most Admired Menswear Brand 2009’ at Images Fashion

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 BRANDED FABRIC AND APPAREL RETAILING
FY10 
(In USD Million) Branded Apparel Business revenue

Fabric Formal wear Casual wear

Super  USD 2.6 mn
Premium

Premium
USD 232 mn USD 5.3 mn
[domestic only] USD 33 mn
Formal Casual
(60%) (40%) USD 43 mn

USD 20 mn
Popular/ mass segment
(20%)

Source: ColorPlus internal data; TechnoPak Advisors, June 2007; CRISIL research

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 COTTON SHIRTING FABRIC – EXPANSION 

Sales (USD MM) EBIDTA (USD MM)
40 34.6 10
78
7.8
30 27.7 8 6.8
21.5 6 5.3
20
4
10
2
0 0
FY08 FY09 FY10 FY08 FY09 FY10

High Value Shirting Fabric business
‐ Consistently high profitability levels, working at close to full capacity

‐Capacity expansion from the current 11.5 million meters to 21.6  
million meters being undertaken by March 2011

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12
 AGGRESSIVE RETAIL THRUST
Retail Space ('000 sq. ft.)
p ( q )
1,356
• One of the largest exclusive
e cl si e retail networks
net orks
1,142 1,257 in the textile and apparel space in India
953

• 1.37 million square feet of exclusive retail

space (as of Jun’10)
2006‐07 2007‐08 2008‐09 2009‐10
• The growth of like to like company stores is
No. of Exclusive Stores (In India and Overseas) 5% in FY10 and in Q1FY11 is 13%
676
547 584
437 • Thrust on smaller towns & cities (Tier 3/4/5)
through franchisee model

Town Class Total TRS Presence Balance

2006‐07 2007‐08 2008‐09 2009‐10 CLASS 1 7 7 0
CLASS 2 28 28 0
CLASS 3 36 36 0
CLASS 4 318 161 157
CLASS 5 394 39 355
Grand Total 783 271 512
Town Classification based on 2001 Census. Data likely to change on 
th
the upside when 2011 Census is released
id h 2011 C i l d

13
13
 DUAL MANUFACTURING COSTS

Dual Manufacturing Cost at Vapi and Thane

‐ Opportunity to increase textile business margins by 3‐4%

The state of art plant at Vapi

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 IN SUMMARY

Raymond has turned around FY 10 by successfully resolving the issues faced

N
Now th company’s
the ’ focus
f i to
is t take
t k advantage
d t off the
th Indian
I di domestic
d ti market
k t
growth which is backed by increase in discretionary consumption
The retail thrust will assist the ggroup
p to p
penetrate into newer markets in smaller
towns and cities
Operationally the group is focused on tackling the dual manufacturing cost build up

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 SOM R C NT INITIATIV S
SOME RECENT INITIATIVES
The company has been focusing Tier 3/4/5 towns and cities, below are some of the newly
opened ‘TRS ‘stores by the company.

Bijapur (Karnataka)
Ambejogai
A b j i Raxaull
R
(Maharashtra) (Bihar)

The company has recently

initiated two new formats
namel ‘Neckties and More’
namely
and ‘Shirts and More ‘which
have received very good
response

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ANNEXURES

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 MANUFACTURING FACILITIES – FABRICS
Fabrics Processes Capacity Location
Worsted Fabric • Combing • 31 mmpa • Thane – Nil (closed since 
• Spinning Dec 09)
• Weaving • Chindwara – 14 mmpa
• Finishing • Vapi – 14 mmpa
• Jalgaon – 3 mmpa
High Value Cotton 
Hi hV l C • Weaving
W i • 11.5 mmpa
11 5 K lh
Kolhapur
Shirting Fabric • Finishing
Woolen Fabric • Spinning • 1.7 mmpa Jalgaon
• Weaving
• Finishing
Denim Fabric • Spinning • 47 mmpa •Yavatmal, India – 40 mmpa
• Dyeing Romania – 7 mmpa
•Romania 7 mmpa
• Weaving
• Finishing

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 MANUFACTURING FACILITIES ‐ GARMENTING

Garment Capacity Location

Shirts • Garmenting for group  • 1.5 m p.a. • Bangalore
companies
Jackets • Has domestic and  • 1.1 m p.a. • Bangalore
Trousers international clients • 2 m p.a. • Bangalore

Denim • Hived off into the  • 1.5 m p.a. • Bangalore

garmenting denim JV
S i Pl
Suit Plant • Hand made suits 
H d d i • 60,000 hand 
60 000 h d • Bangalore
B l
(Jackets and Trousers) made suits p.a.

All the facilities cater to domestic and international clients and is a part of 
p p gy p y
the One‐Stop Shop strategy of the company.

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 BOARD OF DIRECTORS
• Mr Gautam Hari Singhania, Chairman & Managing Director
– Was appointed the Wholetime Director on the Board of Raymond Ltd. in 1990 and was elevated to
the position of Managing Director in mid‐1999
– Has steered Raymond Limited with a single
single‐minded
minded focus of being the best brand in India

• Dr Vijaypat Singhania, Chairman Emeritus

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

• Mr I D Agarwal, Independent Director

– 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

• Mr Pradeep Guha, Independent Director

– Has recently finished a very successful stint as the CEO of India's largest satellite broadcasting
network, Zee Entertainment Enterprises Ltd
– Associated with the p
print medium for 29 yyears and was President of The Times of India ggroup
p

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 BOARD OF DIRECTORS

• Mr P K Bhandari, Non Executive Director

– Has over 25 years of experience in the field of project finance, industry, business and corporate
management
– Joined the Company in 1989,
1989 played a key role in strategizing and implementing the Company's
restructuring program

• Mr Nabankur Gupta, Independent Director

– Joined the Company as Group President on August 1, 2000 and was co‐opted on the Board of
Directors of the Company as Wholetime 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‘

• Mr Sailesh Haribhakti, Independent Director

– A renowned Chartered Accountant, Director on the Board of 20 highly acclaimed public and private
companies holding the position of Chairman or Member of Audit Committee in ten of them
– Was a member of the ICAI's Group on Implementation of Convergence with IFRS, has been awarded
"The Best Non Executive Independent Director Award 07" by Asian Centre for Corporate Governance

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 Raymond Ltd the group flagship is listed on BSE and NSE
Raymond Ltd., the group flagship, listed on BSE and NSE

Stock performance and Sensex Stock performance and CNXMIDCAP
250 250

200 200
Indexxed to 100

Indexxed to 100
150 150

100 100

50 50
0 0

Raymond BSE Sensex
Raymond CNX MIDCAP Index

Last 1 year returns
Stock Price
St kP i 97%
Sensex 9%
CNX Midcap 34%

52 week:
52 week: High       
High 425
Low 142

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THANK YOU

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