Raymond in its best suit
By
Research Desk
about 9 years ago
Raymond has shown a spectacular over 14 times surge in volumes – from a two-week average of some 8500 shares, today over 1.20 lakh shares have changed hands. Intra day, the stock rose to an intra day high at Rs.437, up almost 10%.
The stock price is reacting positively to the company’s enthusing Q4Fy16 numbers. It posted a whopping 161% (YoY) jump in consolidated net profit at Rs.56 crore on a modest 8% rise in net sales at Rs.5595 crore.
What really helped was the fall in ratio of operating costs to net sales – down to 93% from 97% (YoY). EBITDA was up 46% at Rs.176 crore and margins showed a tremendous improvement – up from 8.4% to 11.4%.