Textile player Raymond found itself back in the positive zone in the year gone by, having struggled with mounting competition, flat revenues and steep losses (on a consolidated basis) for two years ended FY-10. The company shut production units and streamlined its brand portfolio by scaling down those brands whose performance was not satisfactory. It renewed its focus on its core brands and plumped up its standing as one of the country's finest suiting brands.

But what injected the most life into the stock was Raymond's real estate plans. It had planned to develop 125 acres of factory land, but hit roadblocks in the form of worker unions. Raymond shelled out Rs 260 crore under a voluntary retirement scheme and the project has been restarted. This places Raymond among those textile players such as Alok Industries to sell-off or develop their vast land banks.

After a tepid growth for the first half of FY-11, revenue growth gathered pace, clocking 22 per cent in the second half of FY-11 against the same period in FY-10 on a standalone basis. The company further improved on the profit front on controls over expenditure and depreciation. On a consolidated basis, operating margins have been maintained at around 10 per cent. Net margins stand at two per cent, while the company recorded consolidated losses in FY-10.

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