Arvind Ltd

Increased capacity utilisation, softening cotton prices set to help sector: Analysts

Textile manufacturer Arvind Ltd on Wednesday reported an 11.62 per cent decline in consolidated net profit from continuing operations to Rs 87 crore in the third quarter ended December 31, 2022. The company had posted a consolidated net profit from continuing operations of Rs 98.44 crore in the same period last fiscal, Arvind Ltd said in a regulatory filing. Revenue from operations during the quarter under review were at Rs 1,979.79 crore as against Rs 2,270.07 crore in the year-ago period, it added. Total expenses were lower at Rs 1,899.7 crore as compared to Rs 2,134.54 crore in the same period last fiscal, the company said. In July 2022, Arvind Ltd said the parent company sold its 100 per cent stake of wholly owned subsidiary, Arvind Internet Ltd to Bigfoot Retail Solutions Pvt Ltd for a consideration of Rs 159 crore and accordingly, the group has considered its wholly owned subsidiary Arvind Internet Ltd as discontinued operations. Overall textile revenues were lower as volume

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Shares of Arvind Ltd were trading at Rs 100 on BSE, up 8.28 per cent from the previous close

Firm had posted a loss of nearly Rs 6 cr in the year-ago quarter

Leading textile manufacturer Arvind Ltd on Wednesday reported a consolidated net profit of Rs 71.06 crore for the second quarter ended September 2021, helped by volume growth across segments. The company had posted a net loss of Rs 5.86 crore during the corresponding quarter of the previous financial year, Arvind said in a regulatory filing. Its revenue from operations during July-September 2021 stood at Rs 2,115.14 crore, a jump of 62.05 per cent as against Rs 1,305.17 crore in the year-ago period. Arvind's total expenses were at Rs 2,016.71 crore, an increase of 53.19 per cent as against Rs 1,316.40 crore a year ago. "Volumes grew across all segments as post-COVID-19 demand stayed strong in both export and domestic markets. Input costs continued to increase sharply but were mostly offset by improved price realisation and higher efficiencies," said Arvind Ltd in a post-earnings statement. Its revenue from textiles was up 70.69 per cent to Rs 1,726.49 crore as against Rs 1,011.43

Better show on account of growth in exports and signs of recovery in domestic markets

Consolidated revenue from operations dips 19% to Rs 1,514 crore

Textile major Arvind Ltd on Thursday reported a consolidated net loss of Rs 5.86 crore for the quarter ended on September 30, 2020, impacted by the Covid-19 pandemic

Consolidated income during the quarter fell by nearly 69 per cent to Rs 603.22 crore from Rs 1,917.21 crore in Q1 of FY20

Company expects a sharp fall in demand for its products and sagging sales in the first quarter of the current fiscal

The stock was up 9% to Rs 120, bouncing back 33% from its early morning low of Rs 90.25 on BSE.

The 3-facilities hub will add 36 million garments per annum capacity, generate additional Rs 10 billion revenue

Textile conglomerate Arvind Ltd. saw its profit after tax (PAT) after exceptional items grow by 18 per cent for the second quarter ended September 30, 2018 for fiscal 2018-19. The PAT after exceptional items stood at Rs 730 million for Q2 of FY'19 as against Rs 620 million for Q2 for FY'18.In view of NCLT having approved the scheme of demerger for the flagship company's branded apparels and engineering businesses, the reported financial statements by Arvind Ltd. reflected figures for continuing businesses only. Financial figures without giving effect of demerger saw Arvind Ltd's revenue from operations grow by 12 per cent to Rs 30.53 billion Q2 FY'19 as compared to Rs 27.35 billion for Q2 FY'18. For Arvind Ltd., the overall revenue growth of 12 per cent in Q2 came on the back of 15 per cent growth in garments revenue and 21 in advanced materials division's revenue. On other hand, revenue for the demerging branded apparel business stood at Rs 12.27 billion, posting a growth of 13 per .

Arvind Ltd is also planning to foray into performance and functional clothing (active wear) and synthetics

The company has earmarked Rs 15 bn investment over the next couple of years involving setting up of new mills, advertising & branding expenses and others

Textile and apparel company Arvind announced it would demerge its branded apparel and engineering businesses, and list these. SANJAY LALBHAI, chairman and managing director, and KULIN LALBHAI, executive director, talk to Raghavendra Kamath. Edited excerpts:What led you to this decision?Sanjay Lalbhai: Financial independence will help unlock the full potential of these businesses. The demerger will free up our resources and allows us to renew our focus on textile business. Over the next three to four years, we will invest Rs 1,500 crore in the textile business to transform it.How has GST (the new goods and services tax) impacted your branded apparel business?SL: Whenever there is an early Diwali, you tend to lose out in the north. If you compare Diwali to Diwali, the numbers are subdued. But, organised players should now do well. Unorganised players which avoid taxes will face challenges. There was a temporary slowing but things became normal quickly. In fact, we did like-to-like ...

Expenses up 18% at Rs 2,173 crore, total income from operations up 15% to Rs 2,335 crore

Arvind Ltd's stake to decline to 90%; deal valued ay Rs 740 cr, sale proceeds to be used to pare Arvind's debt to Rs 2,500 cr