History

1) Raymond Ltd. was incorporated in the year 1925 and belongs to the Vijaypat Singhania Group. The main activity of the company is the manufacture of woven fabric of wool. 2) When the grandson of Lala Juggilal, Lala Kailashpat Singhania took over Raymond in 1944, the mill primarily made cheap and coarse woollen blankets, and modest quantities of low priced woollen Fabrics

Current activities of Raymond

Currently Mr Gautam Hari Singhania is the Chairman and Managing Director of the Company. The promoters have about 35 percent of the equity holding in the company, while institutional investors have approximately 40 percent and individuals hold about 20 percent of the equity. 31 million-meter capacity in wool & wool-blended fabrics. Raymond commands an over 60% market share in worsted suiting in India and ranks amongst the first three fully integrated manufacturers of worsted suiting in the world.

Current activities of Raymond

Only company in the world to have a diverse product range of nearly 20,000 design and colours of suiting fabric to suit every age, occasion and style. Export over 50 countries, including USA, Canada, Europe, Japan and the Middle East. The best of fabric and style through some of the country's most prestigious brands- Manzoni, Park Avenue, ColorPlus, Parx, Be: and Zapp! and Notting Hill.

FINANCIAL HIGHLIGHTS
Net sales 1600 1400 1200 1000 800 600 400 200 0 Mar 2002 Mar 2003 Mar 2004 Mar 2005 Mar 2006 Mar 2007 Net sales 90 80 70 60 50 40 30 20 10 0 Mar 2002 Mar 2003 Mar 2004 Mar 2005 Mar 2006 Mar 2007 PAT (NNRT)

PAT (NNRT)

Net Sales

Profit after Tax

Exports and Imports

400 350 300

Amount

250 200 150 100 50 0 Mar 2002 Mar 2003 Mar 2004 Mar 2005 Mar 2006 Mar 2007

Exports Imports

Year

AWARDS
Textiles Division received the following awards during the year: Chhindwara unit received the National Safety Award from the Ministry of Labour and Employment, Government of India for outstanding performance in Industrial Safety during the Award year 2005 in achieving accident free year. Thane unit received the first prize State Level Award for Excellence in Energy Conservation and Management from the Maharashtra Energy Development Agency in the Textile sector for the year 2005.

AWARDS
Files and Tools Division (subsidiary) received the following awards during the year:
Star Performers in Product Group for 2004-05 Silver Shield by Engineering Export Promotion Council in recognition of the Division achieving outstanding exports amongst the Medium Enterprises Hand Tools category for the year 2004-05. International Trade Awards 2006-07 from CNBC TV18 as outstanding Exporter of the year in Engineering and Machine Tools category.

Subsidiaries of Raymond Limited

Domestic
Raymond Apparel Limited Colorplus Fashions Limited Silver Spark Apparel Limited Everblue Apparel Limited Celebrations Apparel Limited Hindustan Files Limited JK Talabot Limited Scissors Engineering Products Limited Ring Plus Aqua Limited Pashmina Holdings Limited

Subsidiaries of Raymond Limited

Overseas
Jaykayorg AG J K (England) Limited Regency Texteis Portuguesa Limitada, Portugal R & A Logistics INC, USA ExportsAggregate exports of all Divisions was Rs. 255 crores.

Threats
China continues to be a dominant player in the market with better infrastructure facilities and likely removal of quota restrictions in 2008 by US, China is a stronger competitor in exports as well as in the domestic market. The Company is experiencing pressure on margins due to severe competition from other low-cost countries and stronger Indian Rupee. There is also a threat of high inflation rate as the prices of commodities have been increasing over the past three quarters. Textile being a labor intensive industry, rising labor and skilled human resource costs can put pressure on.

Opportunities
The Company is a market leader in the textiles sector in India, has a powerful brand Raymond and strong retail presence in the form of The Raymond Shop (TRS) domestically. The Companys long term strategy for establishing itself as a preferred supplier of value-added premium fabric in the international markets, has started yielding results. The Company is becoming a One Stop Shop for premium international customers.

The Company is now concentrating on new avenues to increase sales and is geared up to meet opportunities for growth in new market segments like corporate-wear, service industry, hospitality industry etc. which are emerging as big segments for textile manufacturers.

Dividend
The dividend as recommended by the Board of Directors, if declared at the ensuing Annual General Meeting, will be paid at par on or after June 19, 2007 to those members whose names appear on the Companys Register of Members as holders of equity shares in physical form on June 18, 2007. In respect of shares held in dematerialised form, the dividend will be paid on the basis of beneficial ownership details to be furnished by NSDL and CDSL or this purpose.

Dividend Given By Company Over The Years

Dividend (%)

Percentage of Dividend

60 50 40 30 20 10 0 Apr Apr May Apr May Apr Apr 2002 2003 2004 2005 2006 2007 2007 Year Dividend (%)

Share Holding Pattern

Percentage of Share Holding as on 31st March 2007
General public, 19.95, 20% Other investors, 5.98, 6% Non promoter's holding, 38.67, 39%

Promoter's holding Promoter's holding, 35.41, 35% Non promoter's holding Other investors General public

Comparison of Current Ratio

Siyaram Ltd.
2.5
Current Ratio
Current Ratio

Raymond Ltd.
2.3 2.2 2.1 2 1.9 1.8
Raymond

2 1.5 1 0.5 0 2003 2004 2005 2006 2007 Year

Siyaram

1.7 2003 2004 2005 Year 2006 2007

Comparison of Profit After Tax

8

PAT as % of Net Sales

7 6 5 4 3 2 1 0 Mar 2002 Mar 2003 Mar 2004 Mar 2005 Mar 2006 Mar 2007 Raymond Siyaram

Year

Comparison of Stock Price

Comparison of Gross Sales

1600 1400
Gross Sales

1200 1000 800 600 400 200 0 Mar 2002 Mar 2003 Mar 2004 Mar 2005 Mar 2006 Mar 2007 Raymond Siyaram

Year

Thank you