{"id":183255,"date":"2026-05-16T02:46:37","date_gmt":"2026-05-16T06:46:37","guid":{"rendered":"https:\/\/alphastreet.com\/india\/arvind-ltd-arvind-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-16T02:50:33","modified_gmt":"2026-05-16T06:50:33","slug":"arvind-ltd-arvind-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/arvind-ltd-arvind-q4-2026-earnings-call-transcript\/","title":{"rendered":"Arvind Ltd (ARVIND) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Arvind Ltd (NSE: ARVIND) Q4 2026 Earnings Call dated May. 16, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Satya Prakash Mishra<\/strong> \u2014 Head, Investor Relations<\/em><\/p>\n

Punit Lalbhai<\/strong> \u2014 Vice Chairman<\/em><\/p>\n

Jayesh Shah<\/strong> \u2014 Executive Director and our Group Chief Financial Officer<\/em><\/p>\n

Gurpreet Singh Bhatia<\/strong> \u2014 CEO and President, AMD Business<\/em><\/p>\n

Analysts:<\/h2>\n

Unidentified Participant<\/strong><\/p>\n

Prerna<\/strong> \u2014 Analyst<\/em><\/p>\n

Vishal Mehta<\/strong> \u2014 Analyst<\/em><\/p>\n

Surya<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to the Arvind Limited Q4FY26 earnings conference call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star 100 on your touchstone pole. Please note that this conference has been recorded. I now hand the conference over to Mr. Satya Prakash Mishra. Thank you.<\/p>\n

And over to you, sir.<\/p>\n

Satya Prakash Mishra<\/strong> \u2014 Head, Investor Relations<\/em><\/p>\n

Good morning everyone and a very warm welcome to the Arvind Limited earnings call for the quarter and full year ended March 2026. The financial results for the quarter and related presentations were uploaded to our website. Hope you had enough time to go through it. Before we begin the call, let me introduce the leadership team that I have with me. We have Mr. Puneet Lalbhai, the Vice Chairman, Mr. Jaish Shah, Hold Time Director and Group CFO Mr. Nigam Shah, Executive Director and CFO of Harvin Limited Mr.<\/p>\n

Gurpreet Singh Bhatia, CEO and President of AMD Business. I am very happy to inform you that the journey of Arvind Limited has taken a defining turn to become a truly global organization. We intend to continue this in the foreseeable future and expand our horizons beyond the boundaries of India. While being deeply rooted in our place of origin, we remain optimistic and upbeat about India’s long term growth story and are fully aligned to capture the opportunities in the world’s largest population center.<\/p>\n

Over the long term. Our well diversified business model with an equal contribution between exports and domestic markets positions us strongly and helps us insulate the company from macroeconomic volatility. Walking all of you back down the memory lane, Let me remind you all that we have started the financial year 2526 with a severe disruption in trade due to imposition of tariff by USA. However, Arvind has started the fiscal year 202526 on a stable footing, proactively absorbing tariff related pressures and realigning its businesses to navigate the challenging macro environment.<\/p>\n

A disciplined approach led the foundation for a strong second half highlighting the agility of our operating platform. Despite multi pronged disruptions, we remain focused on execution, excellence, cost optimization and deepening customer engagements enabling us to deliver consistent growth. Coming to the operational performance during the quarter and the full year. We witnessed strong volume growth across all core segments during the quarter. In line with our guidance, denim volume grew by 19% to 17 million meters with full year volume at 60 million meters up 15%.<\/p>\n

Woven fabric grew by 5% to 35 million meters taking full year volume to an all time high of 136 million meters. The garmenting business continued its strong trajectory crossing 10 million mark for the third consecutive quarter in a row. For the full year the volume reached 42 million pieces which is up 12%. Advanced materials delivered a robust performance with growth in line with our guidance of 18 to 20% growth in this year. This was supported by a favorable product mix, operating leverage and reversal of earlier expense provisions made during the year to take care of tariffs.<\/p>\n

EBITDA margins improved by 200 basis points in quarter four on a full year basis. The business continues to maintain a sustainable margin profile of 15%. Coming to the financial performance for quarter four, consolidated revenue and EBITDA stood at 2,553 crores and 327 crores reflecting a growth of 15% and 19% respectively. For the full year, revenue grew by 12% to 9,303 crores with an EBITDA of10.61 crore and a margin of 11.4%. Important in this to note that the EBITDA for the first time has crossed 1000 crore mark.<\/p>\n

The textile segment reported revenue was at 6897 crore for the year up 12% with EBITDA margin of 10.3%. The garmenting segments delivered strong growth of 21% with revenue crossing 2000 crore mark. Advanced materials division reported a record performance during the quarter and year with a revenue of 1839 crores up 21% and EBITDA margin of 15.1%. Full year profit after tax grew by 21% to 444 crores with return on capital employed improving by 120 basis point to an all time high of 14%. The number is 15.7% if we remove capital work in progress from the calculations.<\/p>\n

Net debt during the similar period reduced by 112 crores to reach 1172 crores supported by a strong free cash generation. In terms of capital allocation and balance sheet, we continue to maintain a disciplined approach to capital allocation. During the year we invested approximately 486 crores in growth. CAPEX. Our balance sheet has strengthened meaningfully over the past few years driven by a prudent capital structure, rationalized debt profile and consistent free cash generation. In line with our dividend policy, the board has recommended a dividend of 4.5 rupees per share translating into a payout of 28.5% of profit after tax reported.<\/p>\n

This is subject to shareholders approval during the quarter gone by. During the previous month we have announced the acquisition of 61% stake in US based Dalco GST through our wholly owned subsidiary of Arvind Advanced Materials Limited marking our journey marking our entry into world’s largest technical textile market. This is a strategically important step strengthening our presence in specialized non woven segment and expanding our global footprint. The acquisition is expected to be margin and EPS accretive from the first year.<\/p>\n

In subsequent years it is expected to unlock meaningful synergies over time. Looking ahead, the global environment remains uncertain with ongoing disruptions including evolving situations in the Middle east impacting input costs, supply chains and currency moments. While the near term risk persists, demand across textile and advanced materials remains resilient and key sourcing destination continues to be stable. For now we are entering FY27 with a healthy order book position and a strong inquiry pipeline.<\/p>\n

We expect to maintain the growth momentum to grow at a double digit with high double digit growth in advanced materials and mid teen growth in garments. However, there may be disruptions in demand especially in second half due to increase in inflation and other global uncertainties impacting discretionary consumption. Input costs across product lines have risen sharply which may exert margin pressure in first half of FY27. While the margin recovery is expected in second half, this is subject to easing of geopolitical tensions.<\/p>\n

We will continue to invest in growth with planned capex of 450 to 500 crores in FY27. This will be funded through internal accruals. At the same time we remain focused on aligning stakeholders interest and and enhancing long term returns. Please note that the outlook that I have given earlier does not include the financial impact of acquisition of Dalco and its consolidation into Arvind’s books. We will provide a detailed update on that in coming quarter. Let me close by reiterating that the company is well positioned to navigate the current environment and deliver sustained profitable growth.<\/p>\n

Our diversified portfolio, disciplined execution and capital allocation underpin the margin improvement and stronger return ratios and superior cash generation capability while managing near term uncertainties with agility. We remain firmly focused on long term value creation through targeted investments, portfolio premiumization and balance sheet strengthening. Thank you. We can now open the floor for questions.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much. We will now begin with a question and answer session. Anyone who wishes to ask a question may press STAR and one on the Touchstone telephone. If you wish to remove yourself from the question queue, you may press STAR and two participants are requested to use answers while asking a question before we proceed. Ladies and gentlemen, in order to ensure that the management will be able to address all the questions from the participants in the question queue, we request you to kindly limit your questions to two per participant.<\/p>\n

If you have a follow up question, please rejoin the queue again. We will now wait for a moment while the question queue assembles. We have the first question from the line of aradna Jain from 361 Capital. Please go ahead.<\/p>\n

Questions and Answers:<\/h2>\n

Unidentified Participant<\/strong><\/p>\n

Hi, thank you for the opportunity and congratulations on the good set of numbers. Couple of questions. First on the garmenting business. If you could just help us understand what are the growth levers in the garmenting business which gives us the confidence that we’ll be able to achieve the mid teens kind of growth. Like is it on the back of the recent capacity expansion that we’ve done, the new client additions that we are getting better utilization realization and how should one look at the realization going ahead?<\/p>\n

Because if we see the last two, three years the realizations were not growing, but this year there’s been a increase in the realizations, high single digit kind of realization growth. So what would be the growth levers in the garmenting business with which gives us this confidence? And a second part of this question is if we could also highlight what is the current margins that we are making in the garmenting division and if there’s any cost or operational efficiency that we are able to bring in in the commenting side of business which can help improve the margin.<\/p>\n

Yeah, that’s my first question.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Sure. Thank you for the question. So the growth in garmenting is almost automatic. The demand to buy from India is very high with pretty much every global buyer needing to de risk Bangladesh and Vietnam particularly. So India will always be a preferred destination to source garments. The challenge is India is a supply constraint geography. So you know people, our garment industry is not growing because we don’t have capacities. So the moment we create capacities, growth will come. So we don’t have to really work very hard to fill order books as far as garments is concerned.<\/p>\n

If you are a good garmenter with, you know, integrated capabilities, diversified product portfolio like us, the order book should not be the hard part. So the growth will come from the capacities we’ve already created. We have moved capacities to from high 40 million range to mid-50s already. So this year we should be somewhere in that, that ballpark. And you know, for us garmenting is just a vertical integration. It’s the same customers that are buying fabric from us that want to now, you know, sort of Be having a one stop shop type of situation with us.<\/p>\n

It gives them a lot of ease of operation not having to connect the dot between dots between multiple suppliers. And as far as realizations go, it is of course product mix linked. We have knits which is slightly lower realization and then we have shirts and denim which have higher realizations. And even within product category depends on the product mix. So you know, realization will be product mix led. I would say things are on track and we should be able to grow this in the high teens going forward as far as margin is concerned because we are still in investment mode.<\/p>\n

There are certain factories that are at lower margins. There are certain factories that are higher margins. So I would say our average blended margin is in the high single digits EBITDA which over a period of time we will want to get into the mid teens. That’s the journey that is still going to take a couple of years to go through. And we are continuing to further expand into garments. That’s, that’s, you know, one of the ways in which we will grow advanced materials, garment expansion and now the third pillar of globalization of footprint.<\/p>\n

I think these would be the avenues that will allow us to grow.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And so is there any labor issue that we would be facing because of the, you know, inflation and the West Asia war related issues at our garmenting facility right now or do we foresee that in the near term<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Garmenting business is people management mostly. So your it, you know, it is always about managing people. Our strategy is to automate so that we can have the highest productivity per person. And we are constantly innovating and automating to ensure that happens. Meanwhile we have to have very people friendly HR practices that lead to higher retention of skilled manpower. So these are all day to day sort of activities as a garment manufacturer. And I don’t see any, anything specific to the West Asia conflict that is going to impact the garmenting industry.<\/p>\n

If inflation goes up, people will be in more need of stickiness of jobs. So I don’t see that as a negative. But overall labor management is the main sort of value driver in garments. If you are able to have high productivity, if you are able to have good retention, then you know, the business becomes successful.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood. My second question is on the AMD division. What are the Arvind Advanced Materials Ltd.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So now it’s no longer a division, it’s a company. Sorry to interrupt you. Please continue with the question.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sure. So what could be the lead indicator that one should be, you know, assessing the advanced material, you know, side of things like from order book perspective, should we be looking at order book visibility? That should give us confidence in that particular segment of yours. And how long as a tenure do we have the order book visibility for? Like is it for three months, six months that we are sure that we have an order book visibility or is it for a longer period? And how many new client additions would be we doing on a year to year basis?<\/p>\n

And if you could also give some guidance on the EBITDA side of things that now that the Dalco division will be integrated into us, how should we look at the EBITDA margins? Because this quarter itself we’ve seen a 200 improvement. Can we expect that to be on a steady state basis? Again, I understand that it is because of the product mix driven by that. But going forward, what should be a steady state EBITDA margin for the AMT division?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

See, this is a rather complex question and Arvind Advanced Materials is a complex business. So the answer varies from product category to product category. The way to think about it is that, you know, we have the visibility to grow at 18 to 20%. We have, you know, the margin is likely to be around 15% to 16%. That’s the sort of, you know, range that we are targeting. Quarter in, quarter out, some quarters there could be, you know, higher, some quarters there could be lower just as a result of product mix.<\/p>\n

So it’s basically 18 to 20% growth and 15% EBITDA margin with hopefully a roce that will keep growing to very interesting levels. And with Dalco, Dalco is a margin accretive acquisition. It is also in the high teens in terms of EBITDA margin. So it doesn’t dilute our margin profile but it increases our avenues of growth and global reach. So that’s how you should look at the business.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood. Thank you. I’ll join back with you for follow ups.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Raunaksha from Equerry securities. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, thanks for the opportunity, sir. My first question is broader on macro terms. So considering the current geopolitical tension and volatile environment, how the industry is realigning and if you can call out certain specific measures which the industry as a whole are taking to mitigate such a risk.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So that’s a good question. I think this is the question on all of our minds as well. So it seems like to deliver a good performance we are having to work harder and harder. And in that context I would like to place on record the fantastic job the team has done in Navigating what already was a very challenging environment in Q4 as far as the year that we are, we have just entered is concerned. It’s a tale of two halves if you ask me. The first half is, you know, very deeply characterized by both strong demand but very, very erratically and fast increasing input costs.<\/p>\n

So you know, cotton has gone up, yarn has also gone up disproportionately. All petroleum backed inputs like energy, so we use a lot of gas for our textile processing, that’s gone up. Dyes and chemicals have gone up, polymers have gone up. So polyesters, nylons, elastane, all have gone up. So it’s a question of being able to sort of manage in this inflationary environment when we have already locked in long term prices. We’ve also locked in a good chunk of raw materials so we are able to manage. But there is going to be margin pressure in the first half and the second half.<\/p>\n

The worry is will this robust demand environment actually hold if the oil stays at between hundred and $120 a barrel, it is conceivable that people will not have enough disposable income to drive the demand that we are seeing today. So all of this needs to be factored in. And it’s too early to have an answer on some of these. But I think what we have shown is that our business model is quite resilient. We’ve seen shock after shock after, you know, since COVID we’ve seen the Ukraine war, then we have seen tariffs, now we are seeing this environment.<\/p>\n

In all these environments we found a way. So you know, I believe in our team that they will, you know, continue to find a way. And yes, there might be some quarters where, you know, some of these pressures lead to slightly muted performance. There may be some quarters where we will soldier through and deliver very good set of numbers. I think overall medium term, our thesis around our growth model, pushing garments, pushing advanced materials, driving efficiency, automation, digitization, globalizing our manufacturing footprint, all of these I think is a winning strategy.<\/p>\n

And so I’m very bullish about sort of the medium term. But the short term is characterized by a lot of these challenges that are uncertain by the very nature. We don’t have enough information to predict the future. And it’s challenging to manage day to day, but the team is doing a good job. So that’s, that’s how I’d like to respond to this question.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Just a small follow up to this. So when we see the first half of FY26 vis a vis second half, we have relative lower base on annualized base. So when we, when the management is seeing some margin pressure into the first half, it is more to do with the annualized comparison. Or you are sensing pressure compared to the first half of FY26.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

No. So I think I’m just seeing pressure now compared to FY26. I think we should still be okay. You know, I mean we should be, we shouldn’t be worse than 26. That’s at least my feeling sitting early in 27. But there will be some margin pressure and my margin pressure, my observations are always indexed to what could have been or what was, you know, in the very recent past. So I think compared to Q4 we are facing more margin pressure and maybe Q2 will face even more margin pressure. And, and, but compared to last year, maybe, you know, there will be other factors that will, you know, sort of allow us to do not worse than last year at least.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood, understood. And just last a follow up on the someone bookkeeping question. Sir, can you elaborate the current installed capacity into the each sub segment and how you are looking to expand it over next two to three odd years?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

I’m sorry, can you repeat that?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So can you just highlight what are the current installed capacity into the each sub segment be it your denim woven or garmenting and how you are trying to expand over next two to three odd years considering the Capex plant which we are having.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So fabric will expand marginally, I mean maybe 5, 7% expansion in capacity is coming after a very long time. We have gone ahead and we’ve done some expansion in our knitting capacity because our verticalization percentage is quite high in knits. And if you want to grow, we also will need to grow the fabric. So we are putting in fabrics this year. We are growing denim in an asset light model a little bit because the demand environment is very good. And the last bit of sort of capacity that we had added in wovens maybe two years ago is now almost reaching 100%.<\/p>\n

So there could be some volume growth there as well. So on the fabric side it is sort of very strategic volume growth in garments. We will grow capacity by about 20% this year. And advanced materials also we are putting in Capexes in the India business to grow at 18 to 20%. And of course Dalco also has Capex plans to grow in the mid teens.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Understood. That’s it from my side. Thanks a lot.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Prerna Junjunwala from Ilara Securities. Please go ahead.<\/p>\n

Prerna<\/strong><\/p>\n

Thank you for the opportunity. And congratulations on strong set of numbers. Just wanted to understand it’s been a fantastic year amid headwinds for you. Could you help us understand what went right for us in any strategic level initiatives that are sustainable that could cushion us from the coming headwind of input cost inflation that is coming in? There’s some, you know, strategic level initiatives that would highlight the strength of a strengthening business model. That’s my first question.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

I think, you know, I would see this performance as a validation of our strategy. We’ve always believed we can perform well, so I think it’s just following through on that belief and delivering what we can. Of course, you know, the results could have been significantly better had it not been for some of those headwinds. So, you know, the headwinds do have an impact, but one must have a business model that is resilient to these impacts. I think the growth of advanced materials is one such factor which is less affected by some of these global headwinds.<\/p>\n

There is the fact that we have focused a lot on efficiency and cost takeout and productivity. I think some of those efforts are kicking in. We are also trying to have a manufacturing footprint that takes advantage of pockets of opportunity and relative competitive advantage from a geopolitical perspective. So products starting to go from Egypt is one such example. Having, you know, a factory in the US now with the Dalco acquisition is there. We have a very diversified business portfolio. We have, you know, within fabric, we have wovens, denim, knits, we have the vertically integrated piece around garments.<\/p>\n

We have a thousand crore B2C 1000 crore plus B2C business which is totally domestic focused and the domestic market was very strong last year. We have, you know, the advanced materials business. So when something is hit disproportionately, something else, you know, hopefully is making up the slack. So having this diversified portfolio and the focus on efficiency, responsiveness and productivity, I think have seen the last year have been big success factors in the performance we’ve delivered last year.<\/p>\n

And I feel this, along with globalization of manufacturing footprint should also be an advantage in the new uncertainties that we are seeing as we go into the new year.<\/p>\n

Prerna<\/strong><\/p>\n

Understood, sir. Second question is on inflation, input cost inflation that you’ve been highlighting. That second first half could have input cost inflation because and could impact margins. Just try to understand how big that it could be at this point in time. It can change with time. I understand, but how garment advanced material fabrics are getting impacted and what should we really expect in terms of impact going forward in first half?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So, you know, it’s as you only mentioned, it’s rather early in the piece and a lot of the moves are still to be made. So, you know, very difficult to give a very definite number but as of now I can see easily one 1.5% of EBITDA coming off because of input costs in H1. Volume growth will be very strong, but margin may come off by 1 1.5%. If demand environment stays strong, we might have an opportunity to make up in H2. But if the conflict keeps going on, there is a chance that demand might not be very strong.<\/p>\n

So I think it’s just too much uncertainty to give a very definitive answer. But rest assured, the team is equipped to sort of see these complexities through and still deliver a decent performance.<\/p>\n

Prerna<\/strong><\/p>\n

Just to follow up on this, how is rupee depreciation? How can it help us? It definitely helps.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

It will partially offset many of these input costs. If rupee depreciation wasn’t there then we’d be in a, in a very challenging environment because input costs have risen very sharply<\/p>\n

Prerna<\/strong><\/p>\n

And are we getting price hike from customers on existing contracts?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Price hike is always, you know, it’s always difficult and it always takes time because you know what you, what you just finalized, you can’t go back and revise you, you’ll have to wait for the next order to get the price hike. So there’s always a lag effect and the price hike is never, never one is to one. There is always, you know, somebody more desperate than you, especially in fashion textiles where you know, there is a lot of capacity globally that has got created over the last five years. So you know, price, we are getting price hikes but they take time and you know, it’s not one is to one.<\/p>\n

I think volume growth, our cost focus, currency depreciation will all be sort of used in concert to try and mitigate the impacts on input costs. So we have levers to pull. It’s just a question of timing and given time we can recover. But then demand needs to be strong in the second half.<\/p>\n

Prerna<\/strong><\/p>\n

One more question. Increasing on debt, do<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

You have anything to add on input cost? Yeah,<\/p>\n

Jayesh Shah<\/strong><\/p>\n

So I think more than the input cost there was this discussion around whether you will do better or worse than what you did in the last your first half. So I think the contextually, as you rightly said, we are seeing what we could have done and we are seeing a one, one, one and a half percent going down from there in terms of margin. It may not be that percentage bad. When you compare it with the H one of the Last year.<\/p>\n

Prerna<\/strong><\/p>\n

Well taken. Yeah, that I understand. Sir, this last question on debt, given the acquisition, the debt has almost doubled on a consolidated basis. How do you plan to reduce it going forward and any timelines that you would like to give?<\/p>\n

Jayesh Shah<\/strong><\/p>\n

Yes. So Prena, as we had spoken during the call a week ago on the acquisition, we are clear that we would like to bring down the debt back to where we were and at a comfortable level. Just that the opportunity was so compelling that we had to finance immediately with the debt. We are working on a plan that our philosophy as you know and we have been consistently following that we would bring down the debt over a few years. It may be maybe one or maybe two years and we are working on various levers to try and bring it down.<\/p>\n

It’s bit too early to say what we will do but maybe when we meet again in the first quarter results, hopefully we will have a very clear idea as to how we are going to do.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Also Prena, the 50 million debt which is on the telco parent is completely non recourse to India. So to that extent you know the risk on the India balance sheet is not to the full extent of the debt we’ve taken.<\/p>\n

Prerna<\/strong><\/p>\n

Understood sir. Thank you sir and best wishes for the upcoming challenging year. Again<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Vishal Mehta from IIFL Capital. Please go ahead.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Yeah, good morning and congratulations on continued strong set of numbers that you’ve been delivering. My first question sir would be on advanced material side. So we recorded you know around 19 odd percent route FY26. We continue to write for 18 to 21%. If you could give some color sub segment wise what’s kind of driving this strong growth and your visibility what it is enhanced.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Morning. This is so as you would know we’ve got three key segments in our business. Human protection, composites and industrial. With a very diversified portfolio meeting several end use applications and solutions. We are seeing growth across all the three segments. There is not a particular segment which is going faster than the other. When we look at human protection, it’s also growing in high teens and a huge opportunity in the coming year to expand and continue the growth through regional expansion into some of the underrepresented geographies and also hunting for new customers is a big drive on the human protection side and we are moving in that direction over the work done over the last six, eight months.<\/p>\n

Yes, innovation is also a critical pillar where we have now developed new products for defense and other critical applications to drive growth on The HP side in industrial which is predominantly our filtration business and where this acquisition also comes we have new investments that we made over the last year for more advanced technologies for high temperature filtration applications and also have a significant CapEx expansion plan for growth this year to again drive an 18 to 22% kind of growth in industrial composites is again diverse from mobility to<\/p>\n

Jayesh Shah<\/strong><\/p>\n

Building<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

And construction to renewables. We are seeing good demand on the renewable side which is the wind energy sector. Building and construction again is seeing very robust demand from Europe and the US market and in mobility where our presence with Indian Railways is, we’ve got now reasonably good outlook for the next 1824 months, an order book from our Indian Railway customers. So overall pretty secular in nature across all the segments. And your question on margins? We did see a margin expansion in quarter four by about 200 basis point but as Puneet said anywhere from 15 to 16% is what we retain as an aspiration for the business overall driving an 18 20% revenue growth within equitable profitable EBITDA growth is is clearly the objective.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Just a follow up here on hp. You said that you are increasing presence on underrepresented geographies. Would it mean that we are also increasing our domestic defense, you know, kind of share here?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Yes. So defense is and it’s a clear direction that we have to support the India growth story and make it more self reliant in all the sectors that we operate in, whether it’s infrastructure build or filtration solutions for emissions in the Indian market and also our defense services. That’s a critical segment and we have now not only expanded our footprint with the Indian army but also expanded to the other forces and paramilitary forces. We are now going up the ladder to reduce and help the Indian forces to reduce import dependence of certain high value and high solution products to enable indigenization, working with some of the core agencies in the Indian ecosystem and conclusively coming to solutions for the Indian forces.<\/p>\n

So defence clearly is a critical growth sector for us.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

As I said,<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Europe on a geography point of view is a critical geographic expansion where over the last couple of months we’ve focused on the gtm, the business development activity and have a very good pipeline getting established to build a business in Europe over the next two years. And of course as you would know the UK EU FTAs are key enablers to support our investments and strategic focus in these geographies.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Thanks. Thanks. Just on this I just wanted to get your sense on where we are in terms of implementation from these FPS,<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

We are pretty, pretty advanced. So, you know, hopefully EU should should happen any moment and we are expecting that, sorry, UK should happen any moment and should be towards the end of the year is what the current consensus is. And of course, you know, this is a complex bureaucratic process. There’s no doubt on whether it is only when. That is the question. And our sources tell us that this would be the timeline that we should see this happen.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

And how are you seeing your responses from EU clients, especially EU UK clients currently on the textile side,<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

The challenge there is our garment capacity.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

They will<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Want to buy way more from us than we have capacity to offer. So in fact, we have started an interesting, you know, we are starting a studio in London where, you know, our entire collection will be available and we are sort of tying up with lot of partner facilities. We have plenty of fabric capacity. We have capacity constrained environment in garmenting because our existing customers also want to grow with us in garmenting. So they get first preference. And then when we have to offer capacities to new clients in these FTA geographies, we are trying to partner and build virtual vertical supply chains and that will be fueled by this new, new studio that we are creating.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Just lastly, you know, we have on fabric side been operating at more than the rated capacity which we kind of disclosed. How are we managing to grow there and what’s your growth outlook on the fabric side of business and how will we fulfill that? You know, given that we are operating at close<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

This year? We are expanding capacities in fabrics too, especially in nits where we are expanding capacity quite significantly. We are almost doubling because that’s the efficient way of, I mean, to build capacity. You can’t build, you know, you can’t have half a line of production. And so nits will have significant capacity, almost 60% more than what we are having right now. In denim, we are doing an asset light model, lot of debottlenecking. Capexes have been happening and are happening. So machine speeds go up, we add some finishing technology.<\/p>\n

We can buy undifferentiated product from third parties and then value add on it. So all those opportunities are there. We are adding printing capacity as well. So capacity will grow this time on fabric as well.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

5 to 7% would be the growth to move forward with on external things.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Yes, I think that’s a good number to keep in mind.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Thank you. Thanks a lot and all the best.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Surya Narayan Nayak from Sunidi Securities. Please go Ahead. Mr. Surya, please proceed with the question. Good. In our response we will take the next participant. We have the next question from the line of Harsh today from LFC Securities. Please go ahead.<\/p>\n

Gurpreet Singh Bhatia<\/strong><\/p>\n

Hi, good morning sir and congratulations for good set of numbers. I just have questions on the government as you say. As you have rightly pointed out that the capacity is the constraint in India and we are having the EU and the UK FTA and lot of clients are looking towards the sourcing and de risking from Bangladesh. Right. What I wanted to understand is when you talk about the partnership factory, what’s the timeline that you’re expecting in this? And just wanted to also understand the timeline for our internal capacity and the garment shipping numbers going forward.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So garment shipping numbers will go from, you know, low 40 million to above 50 million. So we should add more than 10 million full garments this year. We should also grow significantly in our essentials business, you know, which is, that will also grow by 20% this year, which is another 35 million. Of course it’s under garment so much smaller in value but that should also cross 40 million this year. So capacity addition in our own garmenting is very, very strong, which is an ongoing process. Every year we have been investing behind and then partner facilities.<\/p>\n

We already partner with quite a few strategic vendors, some of which we have been working for decades. So we will dial up our engagement with these people and maybe add one or two more relationships like that to be able to cater to the additional demand once these FTAs are in force.<\/p>\n

Gurpreet Singh Bhatia<\/strong><\/p>\n

Perfect on this sir. As, as you rightly said that right now we are also partnering with our, you know, other, like other, other players. So I just wanted to understand this is specifically only in India. And when we talk about the, so when we talk about the diversification, are we also looking at geographical diversification? Might be partnering up with partnership factories in Bangladesh, Vietnam or something like that.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So we already have strong, strong partnerships in both Egypt, Sri Lanka and Bangladesh. These are historic partnerships. We are adding one new partnership in Bangladesh and we are adding a new partnership in Egypt. So advanced materials, we have leased a factory and that’s working quite well in Egypt already three, four cycles of orders have been dispatched from there. And we are adding for fashion, textiles, particularly denim, some partnership factories in Egypt.<\/p>\n

Gurpreet Singh Bhatia<\/strong><\/p>\n

On this, when we say that as we are an integrated player and I rightly understand that we are also having partnership factories in Bangladesh. Just on this, when we talk about garments specifically, do we think that we are going to have our own facilities as well in Bangladesh going in the future because after this FTA is done. I think so. Still the cost effectiveness of Bangladesh because of operating cost still Indian textile will be 5 to 7% higher FOB. So what do you think about that? Are we thinking of adding new facilities in Bangladesh but like internally not, not with partnerships.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So we want to go with an asset light approach.<\/p>\n

Operator<\/strong><\/p>\n

Sorry to interrupt in between sir. Harsh, I would request you to kindly self you to line when management is answering. Sure,<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Yeah. So the we are, we are trying to go in with an asset light or investment light model where we invest but invest in very strategic debottlenecking assets or capability enhancement or quality control equipment. We are investing in people. So that’s the form of our investment. And should that succeed then we can think of dialing up investment as we go forward. If it works well with an investment light approach, we can just do more of it. So I think in a sense the next 18 months will teach us a lot as to what final mode or form should this partnership approach take.<\/p>\n

And we will evolve as we keep learning. But we are quite excited by the opportunities. We are finding good meeting of the minds with many people whom we can come together with and grow our business. So you know managing risk by being investment light is also an important criteria going forward. Because you know not all geographies are easy to operate in with owned assets, people’s capabilities to. To manage those environments.<\/p>\n

Gurpreet Singh Bhatia<\/strong><\/p>\n

Just a question on this. So when we, when we say that our capacity is so just a clarification on capacity of government and the shipping number. So we, we are saying that by end of FY27 we should have approximately 60 million. The capacity and 50 million of shipping is what you’re seeing?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

No. No. So end of 27 our capacities we should be in the mid 50 million range in terms of our manufacturing capability. By the end of the year the capacity should reach 60 million.<\/p>\n

Gurpreet Singh Bhatia<\/strong><\/p>\n

Okay. Okay. So you are saying that it’s going to be 55 to 60 and then, then we are going to have the shipping numbers that’s going to be above 50. So. Okay. But yeah, thank you so much sir and all the best for your future endeavors. You are doing great. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Harsh Mittal from MK Global Financial Services. Please go ahead.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Thank you for the opportunity. So just continuing with the previous participants question, do we see any upside risk in the human protection segment in growth numbers given that the station crisis is there, countries are ramping up their defense budget and we have the EU and the UK FTA is in place. So kind of balances out if there are any downside risk, downside growth risk in the garments or the textile division. This is my first question.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So I think the demand environment in human protection is good. There is also a capacity ramp up that is there ongoing. So you can’t really do much more beyond capacity. So I think we will be at full capacity. There’s an efficiency unlock piece also. There is, you know, that will enhance capacity. So whatever opportunity we get to dial up, you know, our capacity utilization, we will ensure that we take it. And you’re right in pointing out that, you know, all advanced material sales are not as discretionary as fashion textiles is.<\/p>\n

So to that extent there we have buffers against demand destruction that are relatively stronger compared to fashion textiles. So we do expect the demand for this to be more robust compared to even in the face of inflationary environment. And especially since defense and conflict is going up in the world. Europe needs to indigenize its defense. The Middle east is procuring more. So yes, demand environment I don’t expect in human protection to be weak, just to add<\/p>\n

Gurpreet Singh Bhatia<\/strong><\/p>\n

Demand<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Realization into revenue. And human protection takes some time because of the whole certification and validation process. So while we may be an upsurge of global demand on defense, for us to realize that would take a couple of months to go through that process.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

So my second question on the margin you alluded to that in the first half there may be Some hundred to 150 basis point share of in the first half, is this a net of the cost efficiency measures do we take or it is, or we have some efficiency measures which kind of negates this hike in the costs.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Sorry, come again? I couldn’t quite understand that.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

So you alluded to the thing on margins dilution of around 100 basis points in the first half. So is this a network after you taking the efficiencies, cost efficiency measures which already are working on or there are any other. There are some efficiencies measures which kind of buffer this or negates this 100 basis points cost inflation.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So I’m taking 100 basis points from what it could have been and what the current trajectory was when we locked in the orders basically. So compared to that it shouldn’t be 1% from last year’s numbers.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

So my last question is on the capex, the 500 crore capex mentioned earlier in the call. Does it include the Dalco capex as well or is it X of Telco?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

This is the ongoing capex that we are doing in, in the non delco part of the business. Dalco is over and above that.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

So that we believe should be around 50 crores in Dalco and which makes a total of 550 crores.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Something like that. Maybe little less, little more. Depending on the environment and opportunity set. We can you know, sort of ratchet that up or down.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Sure. Thank you. These are my questions. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Vimal Sampath, an individual investor. Please go ahead.<\/p>\n

Jayesh Shah<\/strong><\/p>\n

Yeah, good morning. Two questions. One is in advanced material. We also had a tie up with a Japanese company for carbon fiber. Can you throw some more light on that? And second one is on our sustainable, you know, measures like renewable energy. We have shifted. We are shifting to that and recycling of garments which I think has a very bright future coming. I mean in the coming years.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Japanese joint venture is not in in carbon fiber. It is in this needle punch non woven space for filtration materials. We make the roll good filtration for hot gas. Roll goods for hot gas filtration with the Japanese joint venture and textile to textile recycling is a big theme. We are participating in that theme. We already have a good product range there and that’s only going to go up going going forward.<\/p>\n

Jayesh Shah<\/strong><\/p>\n

And this renewable energy, you know we had tied up for some brickets and then one solar venture was there. Can you. Yes. So<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Wind, solar, hybrid venture. As of now, if, if there are no surprises, it should come at the end of Q2.<\/p>\n

Jayesh Shah<\/strong><\/p>\n

Okay. And this briquettes we are doing something that<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Also should come towards the end of Q2. It’s a new experimental technology. So fingers crossed that it will work. If it will work then it will dramatically speed up our decarbonization journey. It’s a partnership with Peak Ventures for a technology called Tori Faction and we will reach 80% renewable electricity with this last PPA that we assign<\/p>\n

Jayesh Shah<\/strong><\/p>\n

Which will come hopefully<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

End of Q2.<\/p>\n

Jayesh Shah<\/strong><\/p>\n

Okay. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Surya Narayan Nayak from Sunidi Securities. Please go ahead.<\/p>\n

Surya<\/strong><\/p>\n

Yeah. Am I already going? Yeah. Yes,<\/p>\n

Operator<\/strong><\/p>\n

You’re already okay.<\/p>\n

Surya<\/strong><\/p>\n

Yes. Yeah, yeah. Thank you for giving the opportunity and so much for congrats for the good set of numbers in its turbulent period. So just to understand the current garment B and we are operating in considering the expansions in the RNG underway. So what kind of scope you are. We are caring for a long term vision of 30, 20, 30 because you know we are not expanding majorly in the CAR fabrics and we are trying to verticalize more and that could be increasing our margins. So what run rate we are currently on and what is our expectation?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So I think medium term plan is, you know, Even with the 60 million, we are 300 million meters of fabric and 60 million garments is still a very small percentage. So there is a lot of opportunity to grow garmenting. And we are not saying we won’t grow fabrics, we will grow fabrics slower. And this year is case in point where we’ve seen the need to grow knits because our verticality has crossed 50, 55% in knits. So to keep all our customers serviced and then to sort of prepare for EU and UK business, we have chosen to also expand our fabrics there.<\/p>\n

So, so we will take such decisions when it is strategically right for us to do that. But the percentage of verticalization should keep going up and hopefully by 2030 we reach 30, 35% verticalization and then, you know, some more virtual verticals as well. So that we’re not very dependent on fabric nomination based business which is, which is a risk, you know.<\/p>\n

Surya<\/strong><\/p>\n

Okay. And secondly, there is a lot of opportunities coming from the European side. There is a mandate from the European Textile association to have the textile to textile recycling. So are we doing anything currently in the chemical, in the chemical side of processes or any other processes we are actually indulging in?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

We are doing all three. We are doing mechanical, we are doing chemical and we are doing hybrid also. So we have, we have a constellation of partners that we work with that, that have several technologies for different types of polymers and for cellulose as well. So we are quite active in this space and we are working with a lot of these innovators to be the first point of, you know, sort of piloting, doing capsule collections, proving the concept, giving them feedback on the fiber. So we are quite active here.<\/p>\n

Surya<\/strong><\/p>\n

So currently, are we investing anything? Have you invested anything in the textile to textile area recycling?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

We have, you know, we have created one joint venture with Purify which is still not operational in India for variety of reasons. But beyond that also we work with a lot of innovators on a buy and sell, you know, sort of basis. So our work actually starts, that’s where their work ends. Right. So they are an input into, you know, our manufacturing. So it doesn’t, it really unless there is something that we can value add. We would much rather like to, you know, work with multiple people and buy their, you know, product.<\/p>\n

Surya<\/strong><\/p>\n

I mean mostly it is a pre consumer side you are focusing. As of now,<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

We are also Looking at post consumer.<\/p>\n

Surya<\/strong><\/p>\n

Okay, okay. So is there any timeline you have set to scale up that joint venture into a bigger scale? Because you know, globally some of the companies in the European side they are actually developing capacity to the tune of nearly 1 million tons. So like that, I mean the demand is coming from the brands to have more recycled fiber to be in their stream. So is it the opportunity we are also seeking or we are working<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

To partner with this kind of, you know, ecosystem rather than it’s not our core business to be producing, you know, fiber. So we will, we will only, we will evaluate all options but we will. You know my first response is we would like to partner with this ecosystem and be an early adopter for all these technologies.<\/p>\n

Surya<\/strong><\/p>\n

Okay. And lastly recently there was some labor unrest happened in the Noida side. So enter the UP government has set some higher target, a higher price for the labors. So are we also revising anything on the Varanasi side plant?<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

No, we will comply with all the labor regulations. So we operate in multiple states. So we comply, you know, we go above and beyond compliance with labor norms and good employment practices practices. So we don’t see any challenge.<\/p>\n

Surya<\/strong><\/p>\n

So in that case the wage inflation are to be accounted for the RNG going forward.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

So that we do every year in our budgeting. You know it is a fact in India that India is, you know, going to be a high cost inflation country, high wage inflation country. So that’s built into our model.<\/p>\n

Surya<\/strong><\/p>\n

Okay, thank you, thank you,<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Rajat Baldeva from Kizuna Wealth. Please go ahead.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Yeah. Hi sir. Thanks for giving me the opportunity and congratulations on good set of numbers. My first question is on the outlook on the export trajectory of the AMD. Given that the export currently around 60 to 65% of AMD revenue and in particular do you expect this proportion to life? This is my first question.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Yeah, the advanced materials business which is now called aaml, we are pretty happy with you know, the current domestic to export ratio and it will kind of remain constant there because India for us is also growing and India is a very important market where we would like to continue to operate at with the penetration. In fact the largest right to win for us is our home market. So we don’t want to underserve it. So I think 60, 65% export for the moment is the right, right export figure. The rest will be in India.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Okay, enter how much is from the U.S.<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

U.S. Would be about between 35 and 40%.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Okay, answer my second question. On the human protection segment. Right. Typically is your bipartisation right. What percentage of order or the revenue come from defense versus industrial safety given that India’s defense indigenization push.<\/p>\n

Gurpreet Singh Bhatia<\/strong><\/p>\n

So defense currently<\/p>\n

Punit Lalbhai<\/strong><\/p>\n

Contributes to about 15% of our human protection business. And as I shared there are several programs to diversify through the forces and also paramilitary forces. And I see this anywhere within human protection. But if you look at the total advanced materials business it will be about 8 to 10%.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Thank you. Just one last question. Keep up bookkeeping question. A recent disclosure indicate the pledge of security with Bajaj Finance. In addition the existing promoter flag is around 7, 8%. It will look elaborate or provide the rationale behind this incremental and offer clarity on the broader flexibility.<\/p>\n

Satya Prakash Mishra<\/strong><\/p>\n

I think there is<\/p>\n

Jayesh Shah<\/strong><\/p>\n

No. Can I. Can I answer?<\/p>\n

Satya Prakash Mishra<\/strong><\/p>\n

Yes sir. Yes, sir.<\/p>\n

Jayesh Shah<\/strong><\/p>\n

Yeah. So there is no extra place by the promoters that have been done. In fact place levels over last two years have been brought down. So I’m not sure what data I can check and talk to you separately. But we are very clear that there has not been any extra play. Maybe it has shifted from one to another. But there is no extra place that the promoter should have.<\/p>\n

Vishal Mehta<\/strong><\/p>\n

Okay, great sir. Thank you. Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much. Ladies and gentlemen. We will take that as the last question for today. And with that concludes the question and answer session. I now hand the conference over to Mr. Satya Prakash for closing comments. Thank you. And over to you sir.<\/p>\n

Satya Prakash Mishra<\/strong><\/p>\n

Once again thank you everyone for joining today’s call. We trust that the discussion has addressed most of your questions. Should anything remain unanswered or if any queries arise going forward, please do not hesitate to reach out to me and my colleague Himansu. We are just a phone call or an email away. Looking forward to engaging with you in upcoming events of the company. Thank you and wish you a good day ahead.<\/p>\n

Operator<\/strong><\/p>\n

Thank you members of the management. On behalf of Arvind Ltd. We conclude this conference. Thank you all for joining us and you may now disconnect your lines. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Arvind Ltd (NSE: ARVIND) Q4 2026 Earnings Call dated May. 16, 2026 Corporate Participants: Satya Prakash Mishra \u2014 Head, Investor Relations Punit Lalbhai \u2014 Vice Chairman Jayesh Shah \u2014 Executive Director and our Group Chief […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-183255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":142151,"url":"https:\/\/alphastreet.com\/india\/rico-auto-industries-limited-ricoauto-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":183255,"position":0},"title":"Rico Auto Industries Limited (RICOAUTO) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 17, 2023","format":false,"excerpt":"Rico Auto Industries Limited (NSE:RICOAUTO) Q3 FY23 Earnings Concall dated Feb. 15, 2023. Corporate Participants: Arvind Kapur\u00a0--\u00a0Chairman, Chief Executive Officer Kaushalendra Verma\u00a0--\u00a0Executive Director Rakesh Kumar Sharma\u00a0--\u00a0Chief Financial Officer Analysts: Vijay Gyanchandani\u00a0--\u00a0Lead Analyst Aman Vij\u00a0--\u00a0Astute Investment Management -- Analyst Unidentified Participant\u00a0--\u00a0-- Analyst Deepak Poddar\u00a0--\u00a0Sapphire Capital -- Analyst Pritesh Chheda\u00a0--\u00a0Lucky Investment Managers\u2026","rel":"","context":"In "Consumer"","block_context":{"text":"Consumer","link":"https:\/\/alphastreet.com\/india\/category\/consumer-stocks\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":172711,"url":"https:\/\/alphastreet.com\/india\/arvind-q2-fy26-earnings-results\/","url_meta":{"origin":183255,"position":1},"title":"Arvind Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"November 25, 2025","format":false,"excerpt":"Arvind Ltd, one of India\u2019s leading vertically integrated textile companies and among the world\u2019s largest denim manufacturers, reported robust financial results for Q2FY26. Financial Highlights: Revenues increased 8.36% year-on-year to \u20b92,371 crore from \u20b92,188 crore. Total expenses rose 8.28% to \u20b92,237 crore from \u20b92,066 crore. Consolidated net profit surged 69.84%\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/ARV.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/ARV.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/ARV.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/ARV.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/ARV.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/11\/ARV.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":147600,"url":"https:\/\/alphastreet.com\/india\/earnings-arvind-smartspaces-ltd-nse-arvsmart-q4fy23-results-out-total-income-fell-43-yoy\/","url_meta":{"origin":183255,"position":2},"title":"Earnings | Arvind Smartspaces Ltd (NSE: ARVSMART): Q4FY23 Results Out; Total Income fell 43% YoY.","author":"Divyansh_Kasana","date":"May 30, 2023","format":false,"excerpt":"Arvind Smartspaces Ltd, initially known as \"Arvind Infrastructure Limited,\" was established in 2008 in Ahmedabad as a wholly-owned subsidiary of Arvind Limited. The primary aim of the company was to engage in real estate and infrastructure development. As the real estate arm of the Lalbhai Group, a prominent conglomerate valued\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-8-3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-8-3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-8-3.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-8-3.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-8-3.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/4b0b185d-fd09-4e7e-947d-ef141089055f-8-3.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":147996,"url":"https:\/\/alphastreet.com\/india\/earnings-arvind-fashions-ltd-nse-arvindfasn-q4fy23-results-out-total-income-rises-23-yoy\/","url_meta":{"origin":183255,"position":3},"title":"Earnings | Arvind Fashions Ltd (NSE: ARVINDFASN): Q4FY23 Results Out; Total Income rises 23% YoY.","author":"Divyansh_Kasana","date":"June 1, 2023","format":false,"excerpt":"Arvind Fashions Ltd is a company that operates in the branded apparels, beauty, and footwear sector. With a diverse portfolio, it owns and licenses multiple global brands across various segments. Arvind Fashions is involved in the design, manufacturing, and distribution of branded products in the fashion industry. The company caters\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/06\/4b0b185d-fd09-4e7e-947d-ef141089055f-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/06\/4b0b185d-fd09-4e7e-947d-ef141089055f-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/06\/4b0b185d-fd09-4e7e-947d-ef141089055f-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/06\/4b0b185d-fd09-4e7e-947d-ef141089055f-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/06\/4b0b185d-fd09-4e7e-947d-ef141089055f-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/06\/4b0b185d-fd09-4e7e-947d-ef141089055f-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":172128,"url":"https:\/\/alphastreet.com\/india\/arvind-fashions-q2-fy26-earnings-results\/","url_meta":{"origin":183255,"position":4},"title":"Arvind Fashions\u00a0Q2 FY26 Earnings Results","author":"Divyansh_Kasana","date":"November 5, 2025","format":false,"excerpt":"Arvind Fashions Ltd, a diversified player in branded apparel, beauty, and footwear, reported a healthy Q2 FY26 performance fueled by revenue growth and improved profitability. Financial Highlights Revenues increased 11.39% year on year to \u20b91,418 crore from \u20b91,273 crore. Total expenses rose 10.63% to \u20b91,343 crore from \u20b91,214 crore. 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Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"June 9, 2022","format":false,"excerpt":"https:\/\/youtu.be\/vvydCFZtfn0 Key highlights from Colgate Palmolive (India) Ltd. (COLPAL) Q4 FY22 Earnings Concall Management Update: COLPAL said its penetration as Colgate at 88% is the most penetrated brand in India. Q&A Highlights: Percy Panthaki from IIFL asked that Naturals as a category has gained market share over the years over\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=183255"}],"version-history":[{"count":1,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183255\/revisions"}],"predecessor-version":[{"id":183256,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/183255\/revisions\/183256"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=183255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=183255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=183255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}