Raymond Ltd is one of the few stocks that is sailing against choppy market currents today. ET Now caught up with Amit Agarwal, Group CFO, Raymond Ltd today and he says that with people now increasingly stepping out, the last three quarters saw a significant boost in demand for textiles.

In fact, bookings in the Textiles Business are at an all-time high ahead of the festivals of Dusshera & Diwali. Very Mr. Agarwal said that he was Bullish on Branded Textiles – 17-18% EBITDA margins

The other businesses are not shying away either. The traction in the Real Estate segment is also strong. “About 65% of the Thane inventory, whether launched or not, has already been sold. From the launched inventory 80% has been sold.”

They also launched a second project in November last year, which received a good response. Resultantly, they sold 350 flats. The management is also in the process of subsidiarizing this business and says that they will be undertaking projects on the JV/JDA route, and not buying additional land. The Engineering business is also witnessing robust demand. The management expects to see both these verticals, Real Estate & Engineering, account for 25% of the total revenues by FY24. Both these segments are expected to contribute 35% to the EBITDA going forward.

As far as exports are concerned, the company has been able to onboard new customers. This is mainly on account of the ‘China+1’ story playing out in the company’s favor. Additionally, Raymond is adding new lines for exports.

So overall, Mr. Agarwal sounded very positive about the company’s prospects. “This year will be a record year for the Raymond Group in terms of profitability & revenues,” he said. And with healthy cash generation from most of its businesses, it is on track to become net debt free in the next 3 years.