Raymond Chairman Criticizes EVs, Discusses Company Strategy at NDTV World Summit
Gautam Hari Singhania, Raymond's MD and Chairman, called EVs 'politically hyped' at the NDTV World Summit. He discussed Raymond's focus on defense opportunities, targeting India's middle class, and positioning in the mainstream market. Singhania also highlighted challenges in India's motorsport infrastructure. Raymond has scheduled a Q2FY26 earnings call for October 28, 2025, to discuss financial performance with key management members.
*this image is generated using AI for illustrative purposes only.
Gautam Hari Singhania, Managing Director and Chairman of Raymond , recently made headlines with his controversial remarks about Electric Vehicles (EVs) at the NDTV World Summit. The outspoken business leader shared insights on various topics, ranging from the automotive industry to Raymond's business strategy.
EV Criticism and Automotive Industry Insights
Singhania didn't mince words when discussing EVs, describing them as "politically hyped" and comparing them to toy cars. He recalled having a battery-operated car at the age of four, implying that the technology is not as revolutionary as it's made out to be. This statement comes at a time when the global automotive industry is increasingly shifting towards electric mobility.
The Raymond Chairman also touched upon the challenges in India's motorsport ecosystem. He mentioned that his daughter races in Belgium due to better infrastructure, highlighting the need for improved facilities in India to nurture local talent in motorsports.
Raymond's Business Strategy
Singhania provided insights into Raymond's current business focus:
Defense Opportunities: The company is exploring opportunities arising from the Russian-Ukraine conflict, with Raymond working on multiple defense-related products.
Market Focus: Raymond has decided against expanding operations in the US due to uncertainties. Instead, the company is concentrating on India's growing middle class and their demand for affordable luxury.
Brand Positioning: Interestingly, Singhania disagreed with labeling Raymond as a luxury brand, emphasizing that they operate in the mainstream market.
Financial Performance and Investor Relations
While the chairman's comments at the summit didn't directly address Raymond's financial performance, the company is scheduled to discuss its Q2FY26 financial results soon. According to the latest LODR (Listing Obligations and Disclosure Requirements) data, Raymond Limited has announced an earnings conference call for October 28, 2025, at 5:30 pm (IST) to discuss the financial performance for the second quarter and half-year ended September 30, 2025.
The conference call will feature key members of Raymond's senior management team, including:
- Mr. S L Pokharna – President, Corporate Commercial (Special Invitee)
- Mr. Amit Agarwal – Group Chief Financial Officer
- Mr. Gautam Maini – MD, Engineering Business
- Mr. Navin Sharma – CFO, Engineering Business
- Mr. Jatin Khanna – Head, Corporate Development
- Mr. Sunny Desa – Head, Investor Relations
This upcoming financial disclosure and discussion with investors suggests that Raymond continues to maintain transparency and open communication with its stakeholders, even as it navigates the challenges and opportunities in the current business environment.
Singhania's candid remarks at the NDTV World Summit, combined with the company's scheduled financial disclosures, paint a picture of a company that is confident in its strategic direction while remaining attuned to global and domestic market dynamics. As Raymond continues to evolve its business strategy, investors and industry observers will be keen to see how these plans translate into financial performance in the coming quarters.
Historical Stock Returns for Raymond
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.50% | -0.53% | -7.41% | +12.71% | -66.15% | +923.71% |
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