Arvind Limited is a textile manufacturer and brand management company based in India. The company was founded in 1931 and has since grown to become one of India’s leading textile and fashion companies. Arvind Limited operates in three main business segments: textiles, branded apparel, and engineering. In the textiles segment, the company produces a range of products including cotton, denim, khaki, and silk fabrics. In the branded apparel segment, Arvind Limited has a number of popular clothing brands under its portfolio, including Arrow, US Polo Assn, Tommy Hilfiger, Gant, and Flying Machine.
In the engineering segment, the company provides solutions in the areas of water management, renewable energy, and building and construction. Arvind Limited has a strong presence in both the domestic and international markets, with a network of over 4,000 retail outlets across India and exports to over 40 countries. The company has a number of subsidiaries and joint ventures, and has partnerships with a number of well-known global brands.
Arvind Limited is an Indian textile company that recently announced its Consolidated financial results for the period ended December 31, 2022. In the QoQ (Quarter-over-Quarter) comparison, Arvind Ltd reported a decline in both total income and net profit compared to the previous quarter ended September 30, 2022. Total income for the period was Rs. 1992.11 crores, compared to Rs. 2181.23 crores in the previous quarter. The company posted a net profit of Rs. 84.12 crores compared to Rs. 125.02 crores in the previous quarter. The EPS (Earnings Per Share) also declined from Rs. 4.79 to Rs. 3.22.
In the YoY (Year-over-Year) comparison, Arvind Ltd also reported a decline in both total income and net profit compared to the same period in the previous year, December 31, 2021. Total income for the period was Rs. 1992.11 crores, compared to Rs. 2283.30 crores in the same period the previous year. The company posted a net profit of Rs. 84.12 crores compared to Rs. 92.77 crores in the same period the previous year. The EPS also declined from Rs. 3.57 to Rs. 3.22.
In the 9 Months ended FY2023 YoY comparison, Arvind Ltd reported a significant increase in total income and net profit compared to the same period in the previous year. Total income for the period was Rs. 6533.91 crores, compared to Rs. 5852.91 crores in the same period the previous year. The company posted a net profit of Rs. 307.56 crores compared to Rs. 154 crores in the same period the previous year. The EPS also increased significantly from Rs. 5.92 to Rs. 11.77.
In terms of operational performance, Arvind Ltd reported revenues from continuing operations of Rs. 1,980 crores and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of Rs. 186 crores. The company reported a profit after tax (PAT) of Rs. 84 crores, which includes one-time items. The textile segment reported a decline in revenue due to lower volumes, especially in the denim segment, while the advanced materials segment reported a growth of 26% for the quarter and a 9-month growth of 23%. Arvind also reported improvement in its EBITDA margins in the advanced materials segment, which stood at 13.8% in Q3. Additionally, the company reduced its long-term debt by Rs. 135 crore during the quarter and had a net debt of Rs. 1,504 crores as of December 31, 2022.
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