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Motilal Oswal Report
We attended an investor conference of Raymond Lifestyle Ltd., which is expected to be listed on stock exchanges on Sept 05, 2024. The company reiterated its guidance of 12-15% revenue growth and doubling Ebitda to +Rs 20 billion by FY28 (i.e. 19% compound annual growth rate) in the lifestyle business.
This, along with a reduction in working capital to 60 days, should result in free cash flow generation of Rs 6-7 billion annually.
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