Raymond Lifestyle reports Q1 loss as margin trails sector peers
Operating profit was outweighed by interest and depreciation, leaving the consolidated business with a Rs 22.59 cr net loss.
Filed 31 Jul 2026, 21:20 IST · after market close · Raymond Lifestyle Ltd (RAYMONDLSL)
Key takeaways
- Raymond Lifestyle posted a consolidated Q1FY27 net loss of Rs 22.59 cr despite Rs 89.80 cr of operating profit.
- Interest of Rs 63.48 cr and depreciation of Rs 109.41 cr more than offset operating profit and other income of Rs 44.76 cr.
- Its 5.93% operating margin was 8.54 percentage points below the 14.47% median for 53 Consumer Discretionary peers.
Price around the results
Operating profit did not cover fixed charges
Raymond Lifestyle reported consolidated operating profit of Rs 89.80 cr, but interest and depreciation together exceeded that amount by a wide margin. Other income of Rs 44.76 cr provided some offset, yet profit before tax remained negative at Rs 38.33 cr. The company filed the results after market close on 31 July 2026.
Margin sits well below the reported peer median
The 5.93% operating margin leaves Raymond Lifestyle 8.54 percentage points below the 14.47% median among 53 Consumer Discretionary companies that have reported the quarter. With no year-on-year or sequential comparison provided, the margin gap to peers is the clearest available measure of relative operating performance.
Loss quality reflects operating profit being absorbed below the line
The reported loss was not caused by a tax charge: tax was negative at Rs 15.74 cr against a pre-tax loss. Instead, the key pressure came below operating profit, with Rs 63.48 cr of interest and Rs 109.41 cr of depreciation outweighing Rs 89.80 cr of operating profit and Rs 44.76 cr of other income.
Q1FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹1,516 cr |
| Other income | ₹45 cr |
| Expenses | ₹1,426 cr |
| Operating profit | ₹90 cr |
| Operating margin (%) | 5.93% |
| Interest | ₹63 cr |
| Depreciation | ₹109 cr |
| Profit before tax | ₹-38 cr |
| Tax | ₹-16 cr |
| Net profit | ₹-23 cr |
| EPS (₹) | ₹-3.71 |
Operating margin of 5.93% compares with a Consumer Discretionary sector median of 14.47% across 53 peers that have reported Q1FY27.
What to watch
- Whether operating margin moves above 5.93% in the next reported quarter.
- Whether interest falls from Rs 63.48 cr.
- Whether depreciation declines from Rs 109.41 cr or remains above operating profit of Rs 89.80 cr.