Fashion
India’s Raymond Lifestyle Ltd’s Q2 FY26 revenue rises 8% to $211.5 mn
EBITDA rose 7 per cent YoY to ₹259 crore (~$29.37 million), maintaining a margin of 13.9 per cent. This was achieved despite a deliberate increase in advertising expenditure—a strategic investment aimed at strengthening long-term brand equity and enhancing consumer engagement.
Raymond Lifestyle Limited has reported an increase of 8 per cent YoY in Q2 FY26 revenue to ₹1,865 crore (~$211.52 million), driven by robust domestic demand.
EBITDA grew 7 per cent to ₹259 crore (~$29.37 million) with a 13.9 per cent margin.
Branded Textile revenue rose 10 per cent, while Branded Apparel grew 11 per cent.
Strong home market demand offset export challenges from US tariffs.
This growth in EBITDA reflects not only the higher sales volume generated by the resilient Indian consumer but also the benefit of an improved product mix, scale benefit and better operating leverage combined with selective pruning of under-performing stores. The company effectively capitalised on buoyant domestic sentiment, Raymond said in a press release.
The profit before tax (PBT) stood at ₹108 crore compared to ₹112 crore in Q2 FY25, while the company’s total income for H1 FY26 reached ₹3,340 crore, up 12 per cent YoY. The company’s net debt was ₹246 crore as of September 2025, attributed to inventory build-up for the festive and wedding seasons.
However, the growth in domestic consumption and its sales was partly offset, as its international business, particularly the garmenting and B2B export segments, faced considerable headwinds. The imposition of steep US tariffs significantly impacted the company’s global competitiveness, leading to order deferrals and margin pressure from key overseas buyers. Despite this external challenge, the powerful rebound in domestic consumption fully cushioned the impact, allowing it to post positive overall growth.
Branded Textile segment revenue grew by 10 per cent to ₹937 crore in Q2 FY26 vs ₹854 crore in Q2 FY25 mainly on account of robust volume growth, higher wedding dates and increased consumer awareness as compared to the previous year. EBITDA grew by 16 per cent to ₹188 crore in Q2 FY26 as compared to ₹161 crore in Q2FY25, with EBITDA margin of 20 per cent in Q2 FY26 vs 18.9 per cent in Q2 FY25 on account of improved product mix and strong volume growth.
Branded Apparel segment revenue stood at ₹491 crore in Q2 FY26 as compared to ₹441 crore in the same quarter last year, reflecting a growth of 11 per cent YoY. The growth was witnessed across all brands and key channels such as Large Format Stores (LFS), Exclusive Brand Outlets (EBO), Multi-Brand Outlets (MBO) and online. The segment reported an EBITDA of ₹25 crore in Q2 FY26 as compared to ₹57 crore in Q2 FY25 with an EBITDA margin of 5.2 per cent in Q2 FY26 vs 13 per cent in Q2 FY25.
As of September 30, 2025, the company’s store count stood at 1,663, compared to 1,592 a year earlier. The newly opened stores were expected to take additional time to reach full maturity.
Garmenting segment reported revenue at ₹269 crore in Q2 FY26 as compared to ₹260 crore in the same quarter previous year, reflecting a growth of 4 per cent YoY. EBITDA margin for the quarter was 5.4 per cent in Q2 FY26 vs 9.6 per cent in Q2 FY25.
The High Value Cotton Shirting segment recorded revenue of ₹212 crore in Q2 FY26, down 7 per cent YoY from ₹228 crore in Q2 FY25 due to subdued demand. EBITDA rose to ₹25 crore from ₹22 crore in the same period last year, with margins improving to 11.8 per cent from 9.7 per cent, primarily driven by a better product mix, added the release.
“Our quarterly performance reflects encouraging momentum driven by a strong domestic demand across core lifestyle categories. Even as we navigate global macroeconomic headwinds, we remain focused on agility and strategic foresight—closely tracking opportunities from the UK-India Free Trade Agreement and potential risks from US tariff changes. This disciplined approach ensures we continue creating enduring value for all stakeholders,” said Gautam Hari Singhania, executive chairman of Raymond Lifestyle Limited.
Fibre2Fashion News Desk (SG)