"Business As Usual": Raymond Boss' Memo Amid Bitter Divorce Battle

Raymond Chairman and Managing Director Gautam Singhania assured employees and board members that it is "business as usual" in the company and that he is fully committed to its smooth functioning despite the trouble in his personal life.

In an internal mail to the employees and the board members of Raymond, Mr Singhania, who announced separation from his wife Nawaz earlier this month, said he has chosen not to comment on media reports "about matters pertaining to my personal life", saying "maintaining the dignity of my family is paramount to me".

"However, I remain resolute as Chairman and Managing Director and am fully committed toward the smooth functioning of the company and its business. Even in these difficult times for me, I assure you that at Raymond, it is business as usual," he asserted in his mail.

"As you all are aware over the last couple of months, we have made significant strides towards growing our businesses exponentially and have had our best quarter in history on top of a consistent upswing in performance over the last nine quarters." 

Recently, "we have almost doubled our engineering business by entering sunrise sectors of aerospace, defence, electric vehicle components through MPPL's (Maini Precision Products Ltd) acquisition, and have also been awarded two marquee real estate projects in our focus market of Mumbai Metropolitan Region", Mr Singhania added.

Despite issues in his personal life, he said, "I am steadfast to create and deliver value to all our shareholders and ensure the interests of our employees, customers, and other stakeholders".

When reached out, a Raymond spokesperson confirmed that it was an internal mail sent by Mr Singhania to the employees and board members of the company.

Earlier this month, Gautam Singhania said he has separated from his wife Nawaz, in an announcement that came amid speculation over the future of the 32-year relationship.

The billionaire industrialist, whose net worth is reportedly over Rs 11,000 crore, made the announcement on X, saying it was not the same Diwali as in the past.

The industrialist, at the helm of a multi-decade group with roots in textiles that branched out into newer ones like real estate, said Nawaz, a fitness trainer, and he have been together for 32 years as a couple.

The couple has two children, and Mr Singhania said they grew together in their years of companionship and were a source of strength for each other. 

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