After seeing a gradual improvement over the last few weeks, textile major Raymond is cautiously optimistic about the demand environment. Speaking exclusively to CNBC-TV18's Priya Sheth, Raymond CMD, Gautam Singhania said that the company is further looking at reducing costs and dismissed reports that it was planning to sell its FMCG business.
Singhania said FMCG is the future business of the company.
“It’s a very strong business for us. It’s called as Raymond Consumer Care. I think that is a future business for us,” he added.
On core operations, he said, “We looked at the pandemic as an opportunity to reset ourselves and costs and I am confident that we have brought down costs substantially.”
He said the demerger of lifestyle business has been pushed by a few months because of COVID-related disruption.
“Auto and engineering business is running at higher than pre-COVID levels and indications are that lifestyle business is at 70-80 percent pre-COVID levels,” Singhania further added.
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