Textile major Raymond reported a rise of five per cent in its net sales to Rs 5,595 crore in fiscal 2016, ending March 31, as compared to Rs 5,333 crore in fiscal 2015 because of an increase in sales in all its textile and apparel segments, except for denim.
Raymond’s branded textiles segment reported a rise of five per cent in net sales to Rs 2,665 crore in FY16 as compared to Rs 2,545 crore in FY15. Branded apparel segment reported a rise of 18 per cent to Rs 1,194 crore as compared to Rs 1,011 crore previously. Garmenting sector reported a rise of 11 per cent in FY16 to Rs 594 crore as compared to Rs 533 crore previously. High value cotton shirting segment grew by 19 per cent to Rs 467 crore this year as compared to Rs 393 crore previously.
Suiting fabric sales also grew by three per cent (five per cent by volume) in the branded textiles sector. Shirting fabric sales grew across the B2C channel, along with 39 per cent volume growth. All the brands showed an increase in net sales in the branded apparel category.
The garmenting segment and the high value cotton shirting segment showed an increase in net sales because of higher volumes, according to a statement filed by Raymond with the BSE
However, sales reduced in the denim segment by five per cent, because of a fall in volume (by six per cent) due to lower exports.
Net sales also decreased in the non-textile and non-apparel segments of Raymond.