Raymond Ltd, world's largest producer of suiting fabrics today said its ad spend on social media is likely to grow by 400%.
The company had spent about Rs 35 crore on advertising and marketing last fiscal of which Rs 5 crore was on social media which was witnessing 400% growth in the first quarter of this fiscal, according to a press note issued.
The company conducted a search for a new 'Complete Man' ads through a first-of-its-kind model hunt through Facebook in Q1 FY13 and for which it attracted hundreds of responses from young male models from across India, it said.
A report 'Explosion of Social Media: Transforming the Corporate Business Scenario,' released by ASSOCHAM in late 2011 observed that majority of start-ups, leading national and international companies operating in India are embracing social media to enhance their business and on an average spending anywhere between Rs 2 lakh to Rs 50 lakh a year on social marketing campaigns.
Raymond stock price
On November 24, 2015, Raymond closed at Rs 420.75, down Rs 0.05, or 0.01 percent. The 52-week high of the share was Rs 579.50 and the 52-week low was Rs 360.05.
The company's trailing 12-month (TTM) EPS was at Rs 15.58 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 27.01. The latest book value of the company is Rs 190.25 per share. At current value, the price-to-book value of the company is 2.21.
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