Arvind stock sheds 3.5% despite strong FY22 numbers

19 May 2022 , 09:17 AM

Arvind Limited has declared its financial results for the fourth quarter and full year FY 2022.

Key highlights:

• FY22 revenues up 58% to Rs8034 crore; Textiles up 65% and AMD revenues up 51%
• Full year FY22 EBITDA Rs788 crore, PBT Rs390 crore and PAT Rs238 crore (compared to Rs463 crore, Rs5 cr and Rs-17 crore respectively in FY2021)
• Long Term debt reduced by Rs415 crore during the year

Performance Highlights
Arvind Limited ended FY22 on a strong note in terms of Q4 performance, which was similar to Q3 as guided earlier. For Q4, Arvind posted revenues of Rs2204 crore and EBITDA of Rs235 crore, helping close the year at Rs8034 crore revenues and Rs788 crore EBITDA. Fabric and garment volumes remained strong across both domestic as well as export markets.

Margins continued to be under pressure as cotton prices continued to soar, and other input costs also remained high. While price increases helped offset the cost increases, margin numbers looked lower compared to previous periods.

Advanced Materials crossed Rs1000 crore mark during the year, and delivered EBITDA margin of 13%.

Arvind Limited closed the financial year at a net debt of Rs1682 crore which was Rs268 crore lower than March 2021 levels. Long term debt reduced by Rs415 crores over this period.

At around 9:17 AM, Arvind was trading at Rs104.20 per piece lower by 3.43% on the BSE.