Date: November 02, 2026

Group Financial Scorecard

Consolidated Segmental EBITDA Overview (₹ crore)

| Entity | Q2FY27 EBITDA | Q2FY26 EBITDA | QoQ Growth | Portfolio Contribution | Sep'26 YTD EBITDA | Sep'25 YTD EBITDA | YoY Growth | Portfolio Contribution |

| Raymond Lifestyle Limited (RLL) | 270 | 259 | 4% | 55% | 404 | 381 | 6% | 51% |

| Raymond Realty Limited (RRL) | 115 | 101 | 14% | 24% | 185 | 142 | 30% | 23% |

| Raymond Limited | 103 | 79 | 30% | 21% | 203 | 167 | 22% | 26% |

| Portfolio EBITDA | 488 | 439 | 11% | 100% | 792 | 690 | 15% | 100% |

Non-lifestyle verticals (Realty + Raymond Ltd.) now generate 49% of YTD EBITDA (388.16 of 792).

Balance Sheet Metrics (as of 30th September 2026)

| Listed Entity | Net Debt/EBITDA | FFO (TTM) | Cash Balance | Long Term Debt | Net Long Term Debt | Net LTD/FFO | Avg. Maturity of LTD (Years) |

| Raymond Lifestyle Limited | -0.05 | 461 | 1924 | 436 | -1488 | -3.23 | 4.65 |

| Raymond Realty Limited | 1.70 | 319 | 308 | 768 | 460 | 1.44 | 3.9 |

| Raymond Limited | -0.34 | 247 | 1151 | 443 | -707 | -2.86 | 4.57 |

| Consolidated | 0.43 | 1027 | 3382 | 1647 | -1736 | -1.69 | 4.24 |

FFO Conversion: Total Revenue ₹13,115 | EBITDA ₹1,738 | FFO* ₹1,027 | 59% Conversion

Raymond Lifestyle Limited – Q2FY27 Update

Business Updates

  • Total Income expanded 14% YoY to ₹2,125 crore
  • EBITDA margin at 12.7% (-120 bps YoY)
  • Net cash surplus of ₹69 crore vs net debt of ₹(246) crore in Sep'25 (+₹300+ crore turnaround)

Segment Performance (₹ crore)

| Segment | Q2 FY27 | Q2 FY26 | YoY % | Margin % |

| Branded Textile | 971 | 906 | +7% | 19.3% |

| Branded Apparel | 559 | 465 | +20% | 8.8% |

| Garmenting | 339 | 269 | +26% | 7.4% |

| High Value Shirting | 222 | 212 | +5% | 9.5% |

| Emerging Business | 100 | 87 | +15% | (23.0%) |

Operational Milestones

  • Opened 24 new high-traffic locations with strategic net closures of 29 stores since Sep'25
  • Garmenting revenues surged +26% YoY to ₹339 crore with positive EBITDA of ₹25 crore (7.4% margin)
  • Disciplined working capital management delivered robust operational free cash flow

Key Financials (₹ crore) - Consolidated

| Particulars | Q2 FY27 | Q2 FY26 | % Change |

| Total Income | 2,125 | 1,865 | +14% |

| EBITDA | 270 | 259 | +4% |

| EBITDA % | 12.7% | 13.9% | (120 bps) |

| PBT | 91 | 108 | (16%) |

| Net Cash Surplus | 69 | (246) | +300+ Cr turnaround |

Raymond Lifestyle Limited – H1FY27 Update

Business Updates

  • Total Income expanded 10% YoY to ₹3,685 crore
  • EBITDA margin at 11.0% (-40 bps YoY)

Segment Performance (₹ crore)

| Segment | H1 FY27 | H1 FY26 | YoY % | Margin % |

| Branded Textile | 1,654 | 1,605 | +3% | 17.1% |

| Branded Apparel | 908 | 800 | +14% | 7.4% |

| Garmenting | 635 | 466 | +36% | 7.4% |

| High Value Shirting | 417 | 416 | +0% | 9.6% |

| Emerging Business | 179 | 160 | +12% | (23.3%) |

Key Financials (₹ crore) - Consolidated

| Particulars | H1 FY27 | H1 FY26 | % Change |

| Total Income | 3,685 | 3,340 | +10% |

| EBITDA | 404 | 381 | +6% |

| EBITDA % | 11.0% | 11.4% | (40 bps) |

| PBT | 53 | 83 | (37%) |

| Net Cash Surplus | 69 | (246) | +300+ Cr turnaround |

Raymond Realty Limited – Q2FY27 Update

Business Updates

  • Strong Booking Value Trajectory: Q2 FY27 Booking Value up 98% YoY to ₹902 crore
  • Total Income of ₹757 crore in Q2FY27, 7% YoY growth
  • No new project launches during the quarter
  • EBITDA of ₹115 crore in Q2FY27 up 14% YoY, EBITDA margin of 15% (14% margin in Q2FY26)
  • CARE reaffirmed CARE A+ with Stable outlook

Portfolio Updates

  • OC received for Address by GS Season 1 Tower B in Thane comprising 270 units (3,44,478 sq. ft. RERA carpet area), delivered 18 months before RERA timeline
  • Booking Value Contribution Mix: Asset Light Mumbai JDAs - 57%, Owned Thane Land Parcel - 43%

Operational Metrics (₹ crore)

| Particulars | Q2 FY27 | Q2 FY26 | YoY % |

| Pre-Sales | 902 | 455 | 98% |

| Collections | 682 | 409 | 67% |

Key Financials (₹ crore) - Consolidated

| Particulars | Q2 FY27 | Q2 FY26 | % Change |

| Total Income | 757 | 706 | +7% |

| EBITDA | 115 | 101 | +14% |

| EBITDA % | 15% | 14% | ~91 bps |

| PAT | 53 | 60 | (12%) |

| PAT % | 7% | 8.5% | (~150 bps) |

Raymond Realty Limited – H1FY27 Update

Business Updates

  • H1 FY27 Booking Value up 111% to ₹1,602 crore
  • Total Income of ₹1,293 crore in H1FY27, 18% YoY growth
  • EBITDA at ₹185 crore in H1FY27 up 30% YoY, EBITDA margin of 14% (13% margin in H1FY26)
  • Net Debt of ₹912 crore, Debt to Equity ratio of 0.8x

Growth Outlook & Guidance

  • Accelerating growth trajectory with strong pipeline of MMR launches representing cumulative GDV of over ₹4,100 crore
  • FY27 guidance: ~20% growth in pre-sales, ROCE of ~20%, EBITDA margin of 17-19%, PAT margin of 9-10%

Portfolio Updates

  • 100 Acre Thane Land: ~₹25,000 crore revenue potential | 65 acres under development | ~6.7 million sq. ft. RERA carpet area | ~₹16,500 crore revenue potential | ~₹9,770 crore already sold | collections ~₹7,977 crore
  • Asset Light JDA: ~₹27,000 crore revenue potential | 4 JDA projects launched | ~2.8 million sq. ft. RERA carpet area | ~₹11,500 crore revenue potential | ~₹3,430 crore already sold | collections ~₹857 crore

Operational Metrics (₹ crore)

| Particulars | H1 FY27 | H1 FY26 | YoY % |

| Pre-Sales | 1602 | 760 | 111% |

| Collections | 1233 | 783 | 57% |

Key Financials (₹ crore) - Consolidated

| Particulars | H1 FY27 | H1 FY26 | % Change |

| Total Income | 1,293 | 1,098 | +18% |

| EBITDA | 185 | 142 | +30% |

| EBITDA % | 14% | 13% | ~100 bps |

| PAT | 66 | 77 | (14%) |

| PAT % | 5% | 7% | (~200 bps) |

Raymond Limited – Q2 FY27 Highlights

Business Updates

  • Total Income increased 21% YoY to ₹683 crore
  • PBT expanded 117% YoY to ₹42 crore, PBT margin improved to 6.1% vs 3.4% in Q2 FY26 (~270 bps improvement)
  • Net cash surplus of ₹77 crore as of September 2026

Segment Performance

Aerospace & Defence

| Metric | Q2 FY27 | Q2 FY26 | YoY % |

| Revenue | 139 | 81 | 72% |

| EBITDA | 29 | 17 | 72% |

| EBITDA % | 21.0% | 21.0% | - |

Precision Tech & Auto Components

| Metric | Q2 FY27 | Q2 FY26 | YoY % |

| Revenue | 471 | 409 | 15% |

| EBITDA | 61 | 57 | 8% |

| EBITDA % | 13.0% | 13.9% | (90 bps) |

Key Financials (₹ crore) - Consolidated

| Particulars | Q2 FY27 | Q2 FY26 | YoY % |

| Total Income | 683 | 564 | 21% |

| EBITDA | 103 | 79 | 30% |

| EBITDA % | 15.1% | 14.1% | ~106 bps |

| PBT | 42 | 19 | 117% |

| PBT % | 6.1% | 3.4% | ~270 bps |

Raymond Limited – H1 FY27 Highlights

Business Updates

  • Total Income increased 17% YoY to ₹1,311 crore
  • PBT expanded 69% YoY to ₹84 crore, PBT margin improved to 6.4% vs 4.4% in H1 FY26 (~200 bps improvement)

Segment Performance

Aerospace & Defence

| Metric | H1 FY27 | H1 FY26 | YoY % |

| Revenue | 262 | 168 | 56% |

| EBITDA | 55 | 38 | 46% |

| EBITDA % | 21.1% | 22.4% | (~130 bps) |

Precision Tech & Auto Components

| Metric | H1 FY27 | H1 FY26 | YoY % |

| Revenue | 915 | 808 | 13% |

| EBITDA | 122 | 99 | 24% |

| EBITDA % | 13.4% | 12.3% | ~110 bps |

Key Financials (₹ crore) - Consolidated

| Particulars | H1 FY27 | H1 FY26 | YoY % |

| Total Income | 1,311 | 1,119 | 17% |

| EBITDA | 203 | 167 | 22% |

| EBITDA % | 15.5% | 14.9% | ~60 bps |

| PBT | 84 | 50 | 69% |

| PBT % | 6.4% | 4.4% | ~200 bps |

Governance and Risk

Board Structure

  • Independent directors make up approximately 75% of the board across all three listed entities
  • Top-100 Indian corporate average ~50%
  • Every proposal reaches the board after vetting and recommendation by independent committee

Credit Profile

Significant credit strength – 100% of portfolio facilities maintain "Stable" outlook; ₹8,912 crore (~94%) rated "A" or above

| Business | Entities | LT Rated Amt | LT Rating | Outlook | ST Rated Amt | ST Rating |

| Lifestyle | Raymond Lifestyle Ltd | ₹1500 cr | AA | Stable | ₹820 cr | A1 (+) |

| Lifestyle | RLL (Commercial Paper) | ₹550 cr | A1 (+) | Stable | - | - |

| Lifestyle | RLL (NCD) | ₹200 cr | AA | Stable | - | - |

| Lifestyle | Raymond Luxury Cottons Ltd | ₹125 cr | A (+) | Stable | ₹200 cr | A1 |

| Lifestyle | Silver Spark Apparel Ltd | ₹101 cr | A | Stable | ₹206 cr | A1 |

| Lifestyle | Everblue Apparel Ltd | ₹10 cr | BBB | Stable | - | - |

| Lifestyle | Raymond Uco Denim Ltd | ₹399 cr | BBB- | Stable | ₹155 Cr | A3 |

| Realty | Raymond Realty Ltd | ₹1000 cr | A (+) | Stable | - | - |

| Realty | Ten X Realty Ltd | ₹730 cr | A (+) | Stable | - | - |

| Realty | Ten X Realty East Ltd | ₹500 cr | A (-) | Stable | - | - |

| Realty | Ten X Realty West Ltd | ₹1000 cr | A (-) | Stable | - | - |

| Engineering | JK Maini Precision Technology Ltd | ₹800 cr | A (+) | - | ₹150 cr | A1 (+) |

| Engineering | JK Maini Global Aerospace Ltd | ₹950 cr | A | - | ₹80 cr | A1 |

CRISIL Dual-Rating Alignment: Raymond Lifestyle Ltd affirmed at AA/Stable (LT ₹1,450 cr) & A1+ (ST ₹820 cr); Raymond Uco Denim Ltd at BBB-/Stable (LT ₹458 cr) & A3 (ST ₹148 cr)

ESG and People

Environmental Action

  • 15% Scope 1 & 2 GHG cut target (3.7% cut in FY26)
  • 18.5% Renewable Energy achieved (Target 25%)
  • 73.54% waste diverted from landfill (Goal: Zero Waste)
  • Zero Liquid Discharge (ZLD) at Chhindwara (37.22% progress)

Social & Human Capital

  • 37.22% Female diversity (target 40%)
  • Zero fatalities in workspace safety
  • Best Workplace for Women; 100% staff insured & trained
  • <15% employee turnover target maintained

Governance & Value Chain

  • 100% Independent Chairs across all Board Committees
  • Board-level ESG Committee with Independent Director chair

Shareholding Summary

| Category / Metric | Raymond Ltd | Raymond Realty Ltd | Raymond Lifestyle Ltd |

| Promoter & Group Holding % | 48.87% – 59.62% | 48.87% – 59.62% | 48.87% – 59.62% |

| Public Free Float | 40.36% – 51.10% | 40.36% – 51.10% | 40.36% – 51.10% |

| Total Public Shareholders Count | 2,50,426 | 2,01,721 | 1,39,024 |