Arvind Ltd., one of the largest integrated textile and branded apparel players, has recorded growth in the consolidated revenue of eight per cent at Rs. 2,041 crores for the quarter ended March 31, 2015, as against Rs. 1,882 crores in the corresponding quarter of the previous year. Consolidated EBIDTA is up by eight per cent at Rs. 260 crores (Rs. 239 crores). Profit after tax (before exceptional items) grew three per cent to Rs. 97 crores (Rs. 94 crores), while profit after tax after providing for exceptional items amounting to Rs. 48 crores is Rs. 49 crores.
For the financial year, the company reported 14 per cent growth in revenue and 11 per cent growth in operating profit (EBIDTA). Revenue for the year ended March 31, 2015, stood at Rs. 7,851 crores (Rs. 6,862 crores). Net profit after tax from ordinary activity (before exceptional item) grew by seven per cent at Rs. 395 crores (Rs. 370 crores).
At the operating level, consolidated EBIDTA for the year grew by 11 per cent at Rs. 1,013 crores (Rs. 911 crores). Profit after tax, after providing for exceptional items amounting to Rs. 54 crores (Rs. 29 crores for retrenchment of workers, Rs. 22 crores for settlement of legal dispute of USPA brand with Polo Ralph Lauren and Rs. 3 crores for deferred electricity duty) is Rs. 341 crores.
The Board of Directors has recommended a dividend of 25.5 per cent for the year as against 23.5 per cent for the previous year.
Commenting on the results as well as outlook of the company, Mr. Jayesh Shah, Director & Chief Financial Officer, said: “The company is continuing to pursue its strategy of driving growth through Brands & Retail business which grew by 23% in a challenging macro level situation wherein consumer spending had slowed down. The company has built strong portfolio of foreign brands that straddles consumer segments across price points and capable of providing significant growth impetus for the next few years. While textile business grew by 6% in 2014-15, the company is driving future growth by expanding garmenting capacities. For next year the company is expecting revenue growth of around 15-18%, once again led by over 25% growth in its Brands & Retail segment.”