| 1 | Raymond Limited

Disclaimer
Numbers mentioned in this note other than the published financials of the Company, 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 have neither been vetted nor approved by the Audit Committee nor the Board of Directors of the Company, nor have they been vetted or reviewed by the Auditors of the Company and therefore may differ significantly from the actual. The Company assumes no responsibility for the use of such 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 may differ materially from those expressed or implied. Important factors that could make a difference include but are not limited to the Companys operations including global and Indian demand supply conditions, finished goods prices, input material availability and its prices, cyclical demand and pricing in the Companys principal markets, changes in Government regulations, tax regimes, economic developments within and outside India and the countries within which the company conducts its businesses 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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MARKET OVERVIEW

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India Consumption Story

Average 10-yr growth rate has exceeded the average global, emerging markets and ASEAN-5 growth rates for each of the past four decades

Indias middle class is likely to expand from 5-10% of the population today to 90% by 2039, according to OECD projections

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

Per-capita income increased from USD 100 to USD 500 over 33 years (1971-2003). Then took just 5 years to double from USD 500 to USD 1,000

Source: Technopak Analysis, Emerging Trends in Indian Retail and Consumer: 2011 | 4 | Raymond Limited

Market Opportunity
Source: Mckinsey Global Institute

300 200

Household income

Rs. in '000

248 140

100 0

60

82

1995

2005E 2015E Household income

2025F

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

Market Size (INR billion)

1000 800 600 400 200 0
359 497 327 149 225 311 556 668 439 715

937
909

CAGR 10%

Massive domestic market opportunity

CAGR 11%

CAGR 11%

Mens wear accounts for more than 40% of the market share

2006

2007

2008

2009

2010

2011

2012 2016E Kidswear

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Mens Wear

Womens wear

Source: CARE Research, Apparel Industry report April 2013

RAYMOND GROUP EVOLUTION & BUSINESS MODEL

| 6 | Raymond Limited

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

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Evolution of Raymond (since 1925)

2006 1925 Set up of Raymond Woollen mill in Thane 1986 Launch of Park Avenue 1999 Launch of Parx 2002 Acquisition of ColorPlus

2011 Thane settlement during FY 11 Regional launch of Makers brand 600th TRS outlet opened

2013 Raymond Premium Apparel crossed Rs. 1 bn mark Pan-India launch of Makers brand

1958 First Exclusive Raymond retail outlet

Setup of 3rd worsted unit at Vapi

Set up of Raymond Zambaiti at Kolhapur

1925

1950

1958

1968

1986

1996

1999

2002

2003

2006

2009

2011

2012

2013

1950 Set up 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 (mfg suits, trousers)

2009 Vapi Phase II commenced commercial production Super 240s fabric launched a world record

2012 Relocation of Thane plant to Jalgaon and Vapi

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Business Overview
Domestic Market

Brands

Retail

In addition to our own network, the companys products are retailed through ~20000 touch points

State of the Art operations Garments Shirts Trousers Suits Jeans

Fabrics Suiting Shirting Denim

Exports

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Brand Positioning and Size

FY 13 Revenue Fabric Formal wear Casual wear

Super Premium Premium Formal Casual Rs 3239 mn Popular / Mass segment Rs. 902 mn
Source: ColorPlus internal data; Technopak Advisors, June 2007; CRISIL research

Rs 15341 mn [domestic only]

Rs 1860 mn
Rs 1182 mn
(Mid premium)

Rs 1289 mn
(Mid premium)

Strong portfolio of Fabric and Apparel brands and accessories that straddle across various price points
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Brand Strength

Premium Contemporary Formal wear

Premium Formal wear Premium Formal wear for Women

Premium Smart Casual wear

Smart Casual wear

Brands are company owned and well positioned to target different segments

Raymond has maintained its leadership position in brand track studies as compared to competitors and has consistently been the no. 1 brand in all Brand salience studies
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Some Recent Brand Achievements Impactful Retail Design & Visual Merchandising award for ColorPlus
Source Asia Retail congress 2013

Raymond Retail won the Most Innovative Retailer of the Year 2012
Source Retail Industry awards

Raymond Made-to-Measure won the Retail Idea of the Year 2013

Source ET Retail Awards 2013

Raymond Fragrance won award for Best Consumer Packaging in Asia

Source Asia Star Award 2012

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Brand - Exclusive Brand outlet

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Brand - Exclusive Brand outlet

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Brand - Exclusive Brand outlet

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The Raymond Shop- Exclusive Retail Network

A passionate consumer connect story which began with a pioneering effort in retail mens wear category over 50 years ago.
Raymond Retail won the Most Innovative Retailer award for 2012

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Aggressive Retail Thrust

No.of Exclusive Stores (In India and overseas)
1000 800 600 584 676 739 853 922 Close to 1.8 million square feet of exclusive retail space (as of Mar13) Same Store Growth has been 5%, 5%, 10% , 6% & 1% from 2008-09 to 2012-13 respectively Thrust on smaller towns & cities (Tier 3/4/5) 2008-09 2009-10 2010-11 2011-12 2012-13 Retail Space ('000 sq. ft.) 2000 1674 Unique asset light franchisee model
Town Class
CLASS 1

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

400
200 0

Total
7

TRS Presence
7

Balance
0

1778

CLASS 2 CLASS 3 CLASS 4 CLASS 5 Grand Total

28
36 318 394 783

28
36 212 65 348

0
0 106 329 435

1500
1000 500 0

1328

1431

1524

2008-09 2009-10 2010-11 2001-12 2012-13

The above table shows the untapped opportunity that lies in class 4 & 5 towns 22

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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 and the products are retailed through 20000+ 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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FINANCIAL PERFORMANCE

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Consolidated Sales and Profitability Mix

SALES - FY13
Tools & Hardware 9% Denim 10% High value Shirting 4% Auto Components 6% Others & Elim -4% Raymond Ltd Standalone 50% Branded Apparel 19% Tools & Hardware 14%

EBIT - FY13
Auto Components 7% Others & Elim -7%

Garmenting 6%

Denim 12% Garmenting 12% High value Shirting 2%

Raymond Ltd Standalone 58%

Branded Apparel 1%

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Suiting Fabrics Business

Raymond commands the largest market share by far in worsted suiting in India and ranks amongst the top

three fully

integrated manufacturers of worsted suiting in the world

Raymond is perhaps the only company to produce nearly

20,000 designs and colors of suiting fabric & exports to more than 55 countries
Raymond became not only the first Indian textile company to produce a suit length of such fineness (240s) but also the

worlds first - ahead of companies from Europe and Japan

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Suiting Fabrics Business

SALES ( INR Million)
25000 20000

EBITDA ( INR Million)

18646
14854

20269

5000 4000 3718 2176 2603 4042 3505

15000
10000 5000 0

11379

12229

3000
2000 1000 0

FY09

FY10

FY11

FY12

FY13

FY09

FY10

FY11

FY12

FY13

Raymond has consistently maintained its leadership position over the years which is reflected in the performance

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Branded Apparel Business

SALES ( INR Million)
10000 8000 7593 5701 5562 6411 7627

EBITDA ( INR million)

1000
800 600 400 200 0 481 406 231 790 664

6000
4000 2000 0

FY09

FY10

FY11

FY12

FY13

FY09

FY10

FY11

FY12

FY13

Business has achieved profitable growth backed by strong portfolio of own brands. Current year has been a year of consolidation amid subdued consumer sentiments

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High Value Cotton Shirting & Denim Businesses

High value Cotton Shirting business
3500 3000 2500 2000 1500 1000 500 0 367 319 300 2290 309 2969 400 300 2118 1302 1626 200

320

100
0

FY09

FY10 Sales (INR Million)

FY11

FY12 EBITDA (INR Million)

FY13

Denim business
9500 7500 5500 3500 1500 -500 -2500 Sales (INR Million) EBITDA (INR Million) FY09 FY10 FY11 FY12 FY13 -3000 280 5040 594 6427 8071 822 1036 8495 2000 1000 0 -1000 -2000

6770

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Garmenting Business
3000 2500 2000 1500 1000 500 0 FY09 FY10 Sales (INR Million) FY11 FY12 EBITDA (INR Million) FY13 91 158 243 400 350 300 250 2472 200 150 100 1276 50 0

365

143 1734

1002

1002

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Engineering Business
Tools & Hardware
5000 424 3909 500

4000
3000 2000 1000 0 FY09 FY10 Sales (INR Million) 280 190 2160 2120

394
335 2598 3280

400
300 200 100 0

FY11

FY12 EBITDA (INR Million)

FY13

Auto Components (Ring Plus Aqua)

2000 1500 1000 500 0 FY09 FY10 Sales (INR Million) FY11 FY12 EBITDA (INR Million) FY13 90 790 120 210 1486 256 176 300 250 200 150

1123
760

1319

100 50 0

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Consolidated Financials - Significant Performance Improvement

50000 40000 30000 20000 10000 0 2008-09 SALES 25595 2009-10 25078 2010-11 30434 2011-12 36424 2012-13 40692
Note: All figures in Rs. Million.

4823 3336

5353

4453

1392

6000 5000 4000 3000 2000 1000 0

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

Slowdown in Consumer sentiments

Consolidation of Operations

Successful resolution of all historical issues has enabled the Company to turnaround from FY09 to FY13
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STRATEGIC THRUST AREAS GOING FORWARD

| 28| Raymond Limited

Strategic Thrust Areas

Focus to build an efficient Supply Chain that will help reduce lead time to shelf

Supply Chain Management

Cement Raymonds position to maintain leadership status along with strong margins in a vibrant domestic market

Leadership Position

Market Access

Continue with rapid penetration into smaller towns and cities spearheaded by our exclusive retail network and expand on our distribution reach

Brand Focused Approach

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

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Manufacturing Facilities - Fabric

Fabric Processes
Combing Spinning Weaving Finishing

Capacity

Location Chhindwara 14 mmpa Vapi 14 mmpa Jalgaon 10 mmpa

Worsted Fabric

38 mmpa

High Value Cotton Weaving Shirting Fabric Finishing

21.6 mmpa

Kolhapur

Denim Fabric

Spinning Dyeing Weaving Finishing

47 mmpa

Yavatmal, India 40 mmpa Romania 7 mmpa

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Manufacturing Facilities - Garmenting

Garment Capacity 1.83 mn p.a. Location Bangalore Operations

Celebrations Apparel Shirts

Garmenting for group companies mainly

Silver Spark Apparel - Jackets (excl. Premium) - Trousers - Premium Jackets

Suit Plant - Jackets - Trousers

- 0.64 mn p.a. - 1.14 mn p.a. - 60,000 p.a.

Bangalore

Domestic and international clientele

- 0.84 mn p.a. - 0.87 mn p.a.

Bangalore

Hand made suits

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Board of Directors
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. Gautam Hari Singhania, Chairman & Managing Director

Was appointed the Whole-time Director on the Board of Raymond Ltd. in 1990 and was elevated to the position of Chairman & Managing Director in 2000 Has steered Raymond Limited with a single-minded focus of being the best brand in India

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 Whole time director since July, 2011 and President Corporate Affairs since March 2013. He has been with the Company for over 14 years

Mr. P K Bhandari, Independent 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. Shailesh Haribhakti, Independent Director

A renowned Chartered Accountant, Director on the Board of highly acclaimed 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

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Board of Directors

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

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 Whole-time 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. Boman R Irani, Independent Director

He is the Chairman & Managing Director of Rustomjee Group Leading Real estate developer and leader in construction industry. He is a first generation entrepreneur

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WWW.RAYMOND.IN

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