CORPORATE PRESENTATION

September 6th– 7th, 2008

2

DISCLAIMER

1. Numbers mentioned in this note in respect of consolidated revenues and consolidated results and

information such as retail sales and branded sales etc. 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 these 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 from the actual.

2. Statements in this “Presentation” describing the Company’s

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 Company’s

operations include global and Indian demand supply conditions, finished goods prices, input material

availability and prices, cyclical demand and pricing in the Company’s 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 labour 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.

RAYMOND VALUES

RAYMOND STRATEGY

CURRENT BUSINESS MODEL

DESIGN & MANUFACTURING

BRANDS

RETAIL

INVESTING FOR GROWTH

PERFORMANCE

3

CONTENTS

RAYMOND VALUES

4

Over the years,

Raymond VALUESVALUES

have re-enforced

CONFIDENCECONFIDENCE

in the minds of the

CONSUMERCONSUMER

Export

Retail

Wool

RAYMOND STRATEGY

5

Cotton (Fine) Cotton (Denim)

Apparel

Brands

Park Avenue

Color Plus

Parx

Manzoni

Gas

ZAPP!

Raymond

International Clients

Do

me

sti

c

Raymond

Worsted

Silver Spark

Brand

Fabric

Fibre

Garment

Exclusive

Stores

Inte

rna

tio

na

l

Celebrations

Apparel

Everblue

Apparel

Woolen

Fabric

Italian Design Studio

High-value

cotton shirting

MBOs

Raymond

Fedora

Raymond

Zambaiti

Raymond

UCO

Denim

REVENUE COMPOSITION

6

Worsted

Fabric

38%

Textiles

(Retail)

12%

Branded

Apparel

(Retail) 21%

Garmenting

4%

Denim

16%

Engineering

6%

Others

3%

FY 2007-08

RETAIL

CUSTOMER

• Retail

Experience

RAYMOND CURRENT BUSINESS MODEL

DESIGN

AND

MANUFACTURING

• Solutions

• Collections

•Manufacturing fabric

—Worsted

—Woolen

—Cotton Shirting

—Denim

• Accessorisation

BRAND

• Across Categories

• Across Income

Strata

GARMENTING

• Garments

— Jackets

—Trousers

—Shirts

—Jeans

—Suits

RETAIL NETWORK

• Experience

• Lifestyle

• Statement

• Demonstrate

affluence

INSTITUTIONAL

CUSTOMER

• Complete

Solution

INTERNATIONAL

CUSTOMER

• Factored

Solution

• Deliver solution

across

continents7

DESIGN & MANUFACTURING

8

MANUFACTURING FACILITIES – FABRICS

9

Fabrics Processes Capacity Location

Worsted Fabric •Combing

• Spinning

•Weaving

• Finishing

•31 mmpa

• Further expansion of 7

mmpa in progress.

• To commence

operation from Jan 09

• Thane – 7 mmpa

• Chindwara – 14 mmpa

• Vapi – 7 mmpa (+7 mmpa)

• Jalgaon – 3 mmpa

High Value Cotton

Shirting Fabric

•Weaving

• Finishing

•11.5 mmpa Kolhapur

Woolen Fabric • Spinning

•Weaving

• Finishing

•1.7 mmpa Jalgaon

Denim Fabric • Spinning

•Dyeing

•Weaving

• Finishing

•80 mmpa •Yavatmal, India – 40 mmpa

•Gent, Belgium – 18 mmpa

•Romania – 7 mm

•USA – 15 mmpa

Design Studio, Located near Milan, Italy

• Has separate design units for each brand

• Drives absorption of international tends and fashion styles by local team

GARMENTING

10

MANUFACTURING FACILITIES - GARMENTING

11

Garment Capacity Location

Shirts •Garmenting for group

companies

•1.2 m shirts p.a. •Bangalore

Jackets •Has domestic and

international clients

• Expansion of suit plant

(1800 units per day) in

progress. Expected

commencement from

September 2008.

•0.4 m p.a. •Bangalore

Trousers •2.5 m p.a. •Bangalore

Denim

garmenting

•Hived off into the

denim JV

•3 m garments

p.a.

•Bangalore

All the facilities cater to domestic and international clients and is a part of

the One-Stop Shop strategy of the company.

BRANDS

12

EXISTING BRANDS SCOPE

13

Formal wear Others

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

Popular/ mass segment

Formal

(20%)

(60%)

Super

Premium

Casual wear

Neckties &

moreRs 83 Cr

Rs 149 CrRs 10 Cr

Rs 205 Cr

Rs 12 Cr

Rs 15 Cr

FY08

revenue

Fabric

Rs 908 Cr

[domestic only] Rs23Cr

Casual

(40%)

Premium

Branded Apparel Business

Raymond – A household name across

India

60% market share & amongst the

largest globally

Has shown consistent growth

Moderate

BRANDS

709 774

868

992

1,134

0%

5%

10%

15%

20%

25%

2003-04 2004-05 2005-06 2006-07 2007-08

Sales (Rs. Crs.) EBIT Margins

CAGR – 12%

FABRIC BRAND - RAYMOND

7.5

2.2

1.1 1.00.6

1.5

0

1

2

3

4

5

6

7

8

9

10

Raymond Reid &

Taylor

Digjam Donear OCM Siyaram

Weak

BRANDS

BEI Norm: (These scores are comparable across categories )

Above 5 Equity: 6% of brands

Equity between 3-5 : 17% brands

Equity between 1-3: 57% brands

Equity below 1: 20% brands

STRONG

BRANDS

BRAND EQUITY INDEX:

Source: ACNielsen’s BEI study14

BRANDED APPAREL BUSINESS

214 263 292

358

498

0%

5%

10%

15%

20%

2003-04 2004-05 2005-06 2006-07 2007-08

Sales (Rs. crs.) EBIT margin

CAGR – 24%

Park

Avenue

41%

Colorplus

30%

Parx

17%

Others

12%

FY08 Sales

0

50

100

Population by income group(Household income in Rs. L/year)

2003

104

2008E

112

2013F

0.9–2

<0.9

2-5

120

130Cr

>5

0

100

200

Indian apparel market

2003

69

2008E

139

2013F

246

Rs.300K Cr

0

20

40

60

80

100%

Indian apparel

market

2008

Rs.139K Cr

2013F

Organized

Unorganized

Rs.246K Cr

26%

6%

13%

24% 44%Share oforganized

(08-13F)CAGR

The Indian consumer is

getting richer…

…spending more on

apparel...

…and turning to branded goods

sold through organised retail

Source: NCAER report; KSA Technopak; CRISIL; India Retail Report; Literature search

15

FORMAL WEAR BRANDS

• Leader in Men’s formal wear

• Awarded Super Brand status in 2006-07

• Most innovative brand of the year 2006-07

• Shirts made from Bamboo fiber for thefirst time in India by Park Avenue

• Stain resistant suits for the first time inIndia by Park Avenue

16

Source: SuperBrand Council of India

• Super Premium & first home grown Entrylevel Luxury Men’s wear brand

• The finest 2ply 200s, cotton shirt launchedby Manzoni for the first time in India.

• Product range : formalwear, sportswear

including suits, shirts, trousers and highquality accessories such as

– Handcrafted silk ties,

– Pure leather shoes crafted in Europe

– Leather belts

CASUAL WEAR BRANDS

• Leader in Smart semi formal wear

• Nominated for

– “Best casual wear Brand 2006-07”

– “Best Advertising Campaign”

• India’s only super premium smart casual brand

• Know for Innovation and creativity

– Thermo-fused buttons,

– Golf ball wash,

– Soft jeans,

– Wrinkle free technology,

– Stain-free fabric,

– Cone dyed technique

17

GAS

Edgy, Affordable fashion

targeting youth segment

OTHERS

Zapp! (kid’s premium wear)

Notting Hill (Popular price segment)

Features a spectrum of men’s lifestyle products ranging

from formal wear to relaxed casual wear, targeting young

professionals, between the age group of 22 – 30 years

ColorPlus WOMANAn exclusive range of smart-casual clothing

is inspired by the independent, discerning

and multi faceted women of today

Park Avenue WomanA complete range of Business Wear for

women was launched. 'Park Avenue

Woman' is designed specially for the

working women professionals of today.

18

RETAIL NETWORK

19

RETAIL NETWORK

20

348409

518

2005-06 2006-07 2007-08

No.of Exclusive Stores

828953

1,137

2005-06 2006-07 2007-08

Retail Space ('000 sq. ft.)

• Pioneer of specialty retailing

in India

• Has the largest exclusive

retail network in the textile

and apparel space in India

• Over 1 Million square feet of

exclusive retail space

• Retail stores in Middle

East, SriLanka, Bangladesh

and Nepal

RETAIL NETWORK

2005-06 2006-07 2007-08

Sales through retail network

Sales (Rs. Crs)

21

110

155

226

VISION

1000 stores by 2010-2011

2 million sq. ft. of retail space

INVESTING FOR GROWTH…

22

INVESTING FOR GROWTH

23

• Entered into Joint Venture to retail premium brand ‘GAS’ in India

• Launch of new brands for women’s wear and home living store

• Added 113 stores during the year

2007-08

• Entered into Joint Ventures for High Value cotton shirting, Woolen Fabrics andEngineering files

• Entered into Joint Venture for Denim fabric forming one of the world’s largestand trans-continental company with 80 mmpa capacity

• Entry into Auto components business through acquisition

• Launch of kids wear brand

• Added 26 stores during the year.

2005-06

• Expansion of Worsted fabric manufacturing facility adding 7 mmpa to the existing24 mmpa

• Launch of new brands for menswear in the popular space

• Added 82 stores during the year

2006-07

• Setting up additional plant with capacity of 1800 suits per day

• Expansion of Vapi facility by adding 7 mmpa

• Launch of ‘Raymond Finely Crafted Garments’ – readymade apparel under

Raymond brand

• Retail Additions of over 70 stores planned for the year

• New format store for accessories launched under ‘Neckties & More’

2008-09

242

336 350

298

2004-05 2005-06 2006-07 2007-08

Rs. crs.

EBITDA

24

CONSOLIDATED SALES AND PROFITABILITY

1,440

1,711

2,041

2,396

2004-05 2005-06 2006-07 2007-08

Rs. crs.

Net Sales

THANK YOU

25