The country’s largest textile brand, Arvind Limited has posted an increased 10% year-on-year revenue as it declared its Q1 results. The company expects branded apparel segment to continue its over 20% growth. Further, backed by garment expansion and new products, textiles segment is likely to grow by 10% with improving margins.
Pushed by the performance of branded apparel business, the company reported an EBITDA growth of 18% with an increase in top-line of 10%. Profit after Tax (PAT before exception items) grew by 13% to Rs 75 cr, it said. EBITDA for branded apparel grew by 75%, it said.
The brands including Arrow, US Polo Association, Flying Machine and Tommy Hilfiger grew by strong 16% (20% adjusted for GST). Unlimited – the value retail offering – grew by 20%, the company said.
The company said it expects final approvals for demerging its branded apparel and engineering businesses into separate companies in early Q2.