Please find enclosed Financial Results (Standalone and Consolidated) for the financial year ended March 31, 2026.
RAYMONDREL · price
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Raymond Realty reported strong consolidated revenue of ₹2,99,079 lakh and PAT of ₹30,459 lakh for FY2026, up from ₹58,518 lakh and ₹1,177 lakh respectively in the prior year. However, these figures are not comparable year-on-year because the company completed a demerger of the real estate business from Raymond Limited with effect from April 1, 2025, significantly expanding its asset base and operations. The company has recommended a dividend of ₹2 per share (20%) subject to shareholder approval. Auditors issued an unmodified (clean) opinion with an emphasis of matter noting the demerger accounting treatment. Operating cash flow was negative at ₹90,996 lakh due to inventory and receivables build-up, consistent with real estate project execution cycles.
Clean audit outcome and dividend declaration are positive signals. However, investors should note the massive jump in revenue/PAT is structural rather than organic growth, and negative operating cash flow warrants monitoring.