Aug 9, 2021
Indian textile firm Arvind Ltd hits triple digit growth in Apr-June
Aug 9, 2021
First-quarter (Q1) revenue skyrocketed 140 per cent at Arvind Limited, one of largest textile companies in India, reaching ₹1,439 crore compared to revenue of ₹599 crore in Q1 FY21. For the period ended on June 30, its textiles business, which includes denim, wovens and garments, reported a 170 per cent jump in revenues to ₹1,176 crore (from ₹436 crore).
EBIDTA for the quarter escalated 460 per cent to ₹104 crore (loss: ₹29 crore), while the net loss shrank to ₹8 crore (loss: ₹95 crore).
Robust export demand for denim, whose volume grew 2.8x in Q1 FY22, neutralised the reduction in domestic orders, while the woven category recorded volume growth to 3.3x. Moreover, garments volume improved 1.8x YoY.
On the other hand, Advanced Material segment sales expanded to ₹193 crore (₹106 crore).
For Q2 FY22, Arvind Limited predicts export demand to remain strong along with the domestic revival to gain traction from August. The company expects to reduce its debt to near Q4 FY20 levels in the upcoming quarter.
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