It’s business as usual at Raymond, Gautam Singhania tells staff

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New Delhi: Gautam Hari Singhania, chairman and managing director of Raymond Ltd, has assured his employees and board members of the company’s “smooth operation”.

In an internal communication with his staff last week, Singhania wrote: “When the media is cooking up news about my personal life, I am writing to you.” For me, the honor of my family is above all else. However, as Chairman and Managing Director, I am determined and fully committed to the smooth running of the company and its business. Even in these trying times, I can assure you it’s business as usual at Raymond. Mint He saw a copy of the post.

The relationship comes after Singhania had a public spat with his wife Nawaz Modi after they accused Raymond Scion of domestic violence. Modi reportedly wanted 75% of Singhaniya’s $1.4 billion fortune as part of a settlement.

Raymond is a diversified group with strong presence in textile and apparel sector apart from its play in consumer care, realty and engineering sectors in national and international markets.

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“As you all know, we have made significant strides in scaling up our business in the last two months and have achieved our best quarter in history with consistent performance growth in the last 9 quarters. Recently, we have doubled our engineering business by entering into aerospace, defense, electric vehicle components at Sunrise through the acquisition of MPPL, as well as We have been awarded two marquee real estate projects in our focus market of the Mumbai Metropolitan Region.I am committed to creating and delivering value to all our shareholders and ensuring the interests of our employees, customers and other stakeholders,” said Singhania.

In early November, Singhania announced his separation from his wife as the two decided to go their separate ways.

Shares of Raymond saw their biggest decline since Oct. 25 on Wednesday, falling 4.4 percent. They fell by 1.4% on Friday 1,647. Markets are closed today for Guru Nanak Jayanti.

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Updated: 27 November 2023, 04:14 PM IST



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