Corporate Presentation July 2011

DISCLAIMER
1. Numbers mentioned in this note in respect of consolidated revenues and results and additional information including but not limited to retail sales, branded sales etc. but other than Raymond Ltd. Standalone financial results have been compiled by the management and are being provided only by way of additional information. These are not to be construed as being provided under any legal or regulatory requirements. The accuracy of this information and provisional quarterly consolidated numbers have neither been vetted nor approved by the Audit Committee and the Board of Directors of Raymond Ltd., nor have they been vetted or reviewed by the Auditors, and therefore may differ significantly from the actual. The Company assumes no responsibility for the use of information mentioned herein. Statements in this Presentation describing the Companys objectives, projections, estimates, expectations or predictions may be forward looking statements within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Companys operations include global and Indian demand supply conditions, finished goods prices, input material availability and prices, cyclical demand and pricing in the Companys principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the company conducts business and other factors such as litigation and labor negotiations. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statement, on the basis of any subsequent development, information or events, or otherwise.

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ABOUT RAYMOND GROUP

One of India's largest branded fabric and fashion retailer, with some of the best brands in its portfolio

Eight decades old group, in operation since 1925

Integrated across the value chain

One of the largest exclusive retail networks in the textile and fashion space in India

EVOLUTION OF GROUP(SINCE 1925)

2005 Set up of jeanswear garmenting facility Everblue Apparel Ltd Set up of Celebrations Apparel Ltd (shirt manufacture) 2009 Vapi Phase II commenced commercial production Super 240s fabric launched a world record

1925 Set up of Raymond Woollen mill in Thane

1958 First Exclusive Raymond retail outlet

1986 Launch of Park Avenue

1999 Launch of Parx

2002 Acquisition of ColorPlus

1925

1950

1958

1968

1986

1996

1999

2002

2003

2005

2006

2009

2011

1950 Setup of JK Files and Tools (engineering files)

1968 Set up of readymade garments plant at Thane

1996 Launch of Raymond Denim

2003 Setup of Silver Spark Apparel Ltd (manufacturing suits, trousers)

2006 Setup of 3rd worsted unit at Vapi Setup of Raymond Zambaiti, a greenfield high value cotton shirting unit at Kolhapur

2011 Thane settlement during FY 11 Regional launch of Makers brand in the value for money fabric segment 600th TRS outlet opened

BUSINESS OVERVIEW
B2C constitutes 84% of revenues

Brands

Raymond Park Avenue Parx Colorplus

Retail

Wholesalers MBOs Exclusive Stores

Domestic Market

International Market

Exports

Fabric Manufacturing Garment Manufacturing

Suiting Shirting Denim Shirts Trousers Suits Jeans

B2B constitutes 16% of Revenues

SUCCESSFUL TURNAROUND IN COMPANYS PERFORMANCE

EBITDA EBITDA Margin

16.3% 13.2% 10.9%

15.7%

5.4% 3317 3336 2609 1392

2006-07
SALES

4789

2007-08

2008-09

2009-10

2010-11

20407

23962

25901

25281

30562

Note: All figures in Rs million.

ERP roll out issues Denim business

GAS joint venture Denim business Forex losses Duplicate plant costs (Thane & Vapi)

Implementation of turnaround strategy including trouble shooting

Refocus on long term strategic thrust areas

Successful resolution of all historical issues has enabled the company to turnaround and demonstrate strong improvement in profitability from FY 09 to FY11 6

STRATEGIC THRUST AREAS

Cement Raymonds position to maintain leadership status in a vibrant domestic market

Leadership position

Market Access

Continue with rapid penetration into smaller towns and cities spearheaded by the exclusive retail network and widen distribution reach

Brand Focused Approach

Focus on power brands to help maintain pricing and profitability through premium positioning

MARKET SIZE AND OPPORTUNITY

Market Size (Rupees billions)
900 800 700 600 500 400 300 200 100 0 842 300 250 200 150 100 50 0 1995 2005E 2015E 2025F 60 82

Household income
Source: Mckinsey Global Institute

Rs. in '000

CAGR 9%
446 181 28 2007 Mens Wear Source: KSA Technopak 481 539

248 140

383 158 21 2006

CAGR 8%
331 225 35 2009

192 30 2008

CAGR 13%
65 2014 Kidswear

Womens wear

Household income

Large domestic market opportunity Mens wear accounts for a major portion of the market

Household income levels are expected to increase leading to higher disposable incomes

34% 32% 30% 28% 26% 24%

32% 30% 27%

The share of discretionary expenditure will continue to expand in the consumer's wallet

Discretionary Expenditure 2003 2008 2013

Source: India Consumer Trends, Technopak analysis

INDIA CONSUMPTION STORY

India will have 68 cities with a population of more than 1 million by 2030, up from 42 today. Urban India will drive a nearly fourfold increase in average national income. Cities will account for nearly 30% of Indias GDP by 2030.

Urbanization

Growing Affluence across India

Poverty will reduce sharply in urban and rural India; a key trend of significance will be the rapid growth in the Middle class across both urban and rural India

A shift to greater discretionary spending

The share of Food and Grocery in the consumers wallet will drop from 40% to 32%, releasing money for discretionary expenditure

BRAND STRENGTH
Brand salience - Top of mind recall 60 50 40 30 20 10 0
Raymond Vimal Gwalior Siyaram Reid & Taylor Mayur Dinesh

Brand salience - Spontaneous recall 120 100 80 60 40 20 0

Raymond Vimal Gwalior Siyaram Reid & Taylor Mayur Dinesh

May-June09

Jul- Sept09

Oct Dec09

Jan Mar10

May-June09

Jul- Sept09

Oct Dec09

Jan Mar10

Source: TNS Global Market research

Source: TNS Global Market research

Raymond has maintained its leadership position in brand track studies as compared to its competitors Park Avenue won the award for Most Admired Menswear Brand 2009 at Images Fashion Have recently launched the new Park Avenue mnemonic and logo which has a young, contemporary, global appeal.

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BRAND POSITIONING AND SIZE

Branded Clothing Business Fabric Formal wear Casual wear
FY11 revenue

Super Premium Premium Rs 11825 mn [domestic only] Rs 1720 mn Rs 518 mn

(Mid premium)

Formal

Casual Rs 2319 mn Rs 1254 mn

Popular/ mass segment

Recently launched

(Mid premium)

Source: ColorPlus internal data; TechnoPak Advisors, June 2007; CRISIL research

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AGGRESSIVE RETAIL THRUST

One of the largest exclusive retail networks in the textile and apparel space in India
Retail Space ('000 sq. ft.)
2000 1500 1000 500 0 2006-07 2007-08 2008-09 2009-10 2010-11 998 1197 1328 1506 1524

1.54 million square feet of exclusive retail space (as of Mar11) Like to like stores growth have picked up from 6%, 5% and 10% over the last 3 years Thrust on smaller towns & cities (Tier 3/4/5) Unique asset light franchisee model
Town Class Total 7 28 36 318 394 783 TRS Presence 7 28 26 166 39 276 Balance 0 0 10 152 355 517

No.of Exclusive Stores (In India and overseas)

800 600 400 200 0 2006-07 2007-08 2008-09 2009-10 2010-11 547 437 584 676 739

CLASS 1 CLASS 2 CLASS 3 CLASS 4 CLASS 5 Grand Total

The above table shows the untapped opportunity that lies in class 4 & 5 towns

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SUMMARY OF STRENGTHS
Domestic Consumption play Powerful Brands Retail network Integrated Business Model Product Quality
Raymond is one of Indias leading conglomerates operating in the Branded Lifestyle space.

Raymond has a strong portfolio of brands, both in fabric and apparel segments that make it best positioned to cater to the brand conscious customers in both these segments The company has one of the largest exclusive retail networks spread across the country In addition, the companys products are retailed through 18000+ touch points One of the few companies that is integrated across the value chain

The company has state of the art manufacturing capabilities in all its businesses

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SUITINGS BUSINESS
Sales (Rs million)
16000 14000 12000 10000 8000 6000 4000 2000 0 14% CAGR 11379 12229 14854 4000 3500 3000 2500 2000 1500 1000 500 0

EBITDA (Rs million)

30% CAGR 2622 2164 3675

FY09

FY10

FY11

FY09

FY10

FY11

Textiles business Market leader in its segment, Raymond brand has maintained its leadership position in brand track studies as compared to its competitors One of the largest integrated textile units The brand is sold through more than 18000 touch points throughout the country.
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BRANDED APPAREL BUSINESS

Sales (Rs million)
6600 6400 6200 6000 5800 5600 5400 5200 5000 6408 6% CAGR 5693 700 600 500 400 5562 300 200 100 0 FY09 FY10 FY11 FY09 FY10 FY11 472 406 19% CAGR

EBITDA (Rs million)

664

Branded Apparel Business Houses brands like Park Avenue, Parx, ColorPlus All brands are well positioned to target different segments

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SHIRTING, DENIM AND GARMENTING BUSINESS

380 360 340 320 300 280 FY09 FY10 FY11 EBITDA (Rs million) 317 319 1295 1632 372 2118 2500 2000 1500 1000 500 0 1400 1200 1000 800 600 400 200 0 1011 1009 158 91 1260 200 150 143 100 50 0 FY09 Sales (Rs million) FY10 FY11 EBITDA (Rs million)

Sales (Rs million) 3 year CAGR Sales 28%

High value cotton shirting business

8000 6000 4000 2000 0 FY09 Sales (Rs million) FY10 FY11 -488 7035 5135 594 402 6427

Garmenting business
3 year CAGR - Sales 12%, EBITDA 26% 800 600 400 200 0 -200 -400 -600

Denim business
3 year CAGR - Sales -4%

EBITDA (Rs million)

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ENGINEERING BUSINESS
3000 2500 2000 1500 1000 500 0 FY09 Sales (Rs million) FY10 FY11 EBITDA (Rs million) 1200 1000 790 760 123 90 1070 190 200 150 100 50 0 FY09 Sales (Rs million) FY10 FY11 EBITDA (Rs million) 194 280 2120 2160 326 2552 350 300 250 200 150 100 50 0

Tools and Hardware Business

3 year CAGR- Sales 9%,EBITDA 30% Engaged in manufacturing and marketing of Steel Files Largest producer of Steel Files in the world.

Auto Component Business

3 year CAGR- Sales 16%,EBITDA 45% Manufactures Starter Gears and Integral Shaft Bearings

800 600 400 200 0

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ANNEXURES

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MANUFACTURING FACILITIES FABRICS

Fabrics Worsted Fabric Processes Combing Spinning Weaving Finishing Capacity 31 mmpa Location Thane Nil (closed since Dec 09) Chindwara 14 mmpa Vapi 14 mmpa Jalgaon 3 mmpa (+ 7 mmpa to be added by Q4FY11) Kolhapur

High Value Cotton Weaving Shirting Fabric Finishing Woolen Fabric Spinning Weaving Finishing Spinning Dyeing Weaving Finishing

21.6 mmpa (10.1 mmpa has commissioned in Q1FY12) 1.7 mmpa

Jalgaon

Denim Fabric

47 mmpa

Yavatmal, India 40 mmpa Romania 7 mmpa

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MANUFACTURING FACILITIES - GARMENTING

Garment Celebrations Apparel Shirts Silverspark Apparel - Jackets - Trousers - Premium Jackets Denim garmenting Suit Plant - Jackets - Trousers Capacity 1.8 m p.a. Location Bangalore Bangalore 0.56 m p.a. 1.14 m p.a. 60,000 pieces p.a 1.5 m p.a. Bangalore Bangalore 0.69 m p.a 0.87 m p.a Garmenting for group companies Has domestic and international clients

Hived off into the denim JV Hand made suits

(increasing Jackets to 0.84 mpa in Q3FY12)

All the facilities cater to domestic and international clients and is a part of the One-Stop Shop strategy of the company.
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SOME RECENT INITIATIVES

Below are some of the opened The Raymond Shops (TRS ) by the company.

Ujjain (Madhya Pradesh)

Zaheerabad ,Andhra Pradesh

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SOME RECENT INITIATIVES

Below are some of the innovative concepts like Neckties and More and Raymond Made-to-Measure initiated by the company.

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BOARD OF DIRECTORS
Mr Gautam Hari Singhania, Chairman & Managing Director
Was appointed the Wholetime Director on the Board of Raymond Ltd. in 1990 and was elevated to the position of Managing Director in mid-1999 Has steered Raymond Limited with a single-minded focus of being the best brand in India

Dr Vijaypat Singhania, Chairman Emeritus

Has nearly four decades of experience in the management of several industrial units as the Chief Executive, even before his current position Has been instrumental for the successful growth and diversification plans of the Company

Mr. H. Sunder, Whole-time Director

Has over 26 years of experience in finance, taxation, accounts, legal, secretarial areas, international business and general corporate management He is the President Finance and Group Chief Financial Officer of the Company since 2006. He has been with the Company for over 14 years.

Mr I D Agarwal, Independent Director

Has 37 years of experience in Banking, Finance and Currency, Former Executive Director, Reserve Bank of India, was an Advisor to the United Nations and has been the Director of Small Industries Development Bank of India

Mr Pradeep Guha, Independent Director

Has recently finished a very successful stint as the CEO of India's largest satellite broadcasting network, Zee Entertainment Enterprises Ltd Associated with the print medium for 29 years and was President of The Times of India group

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BOARD OF DIRECTORS
Mr P K Bhandari, Non Executive Director
Has over 25 years of experience in the field of project finance, industry, business and corporate management Joined the Company in 1989, played a key role in strategizing and implementing the Company's restructuring program

Mr Nabankur Gupta, Independent Director

Joined the Company as Group President on August 1, 2000 and was co-opted on the Board of Directors of the Company as Wholetime Director and Group President effective January 15, 2001. Was the first Indian to receive recognition by the Advertising Age International, New York, in 1995 with the title of Marketing Superstar

Mr Sailesh Haribhakti, Independent Director

A renowned Chartered Accountant, Director on the Board of 20 highly acclaimed public and private companies holding the position of Chairman or Member of Audit Committee in ten of them Was a member of the ICAI's Group on Implementation of Convergence with IFRS, has been awarded "The Best Non Executive Independent Director Award 07" by Asian Centre for Corporate Governance

Mr Akshay Chudasama, Independent Director (wef 21.04.2011)

Partner in JSA, a reputed Law Firm. He specializes in Mergers & Acquisitions, Joint Ventures, Cross Border Investments, Private Equity, Real Estate, Hospitality, Franchising and Media & Entertainment law

Mr Boman R Irani, Independent Director (wef 21.04.2011)

He is the chairman of Rustomjee Group. Leading Real estate developer and leader in construction industry. He is a first generation developer and an entrepreneur.

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THANK YOU

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