Arvind Fashions Records Highest Ever Q1 Sales and Profitability
Arvind Fashions Records Highest Ever Q1 Sales and Profitability

Arvind Fashions Limited (AFL), India’s leading casual and denim player, has declared its financial results for the first quarter ended June 30, 2022.

Revenue grew by 40 percent to Rs 920 crore compared to the pre-Covid level (Q1 FY20). This was led through sharp execution across retail channels witnessing ~25 percent LTL growth. It was also aided by robust performance in other channels including online and MBO which grew by 1.9x and 2.5x respectively over pre-Covid levels

Power brands' revenue witnessed a growth of 44 percent (vs. pre-Covid) with USPA and Tommy Hilfiger continuing their trajectory of double-digit EBITDA margins (pre-IndAS).

Record full price sell-thru’s across brands and lower discounts resulted in an increase in gross margins by 640 bps (Y-o-Y). EBITDA increased to Rs 94 crore; a growth of 52 percent over the pre-Covid level.

Commenting on the performance of the company, Shailesh Chaturvedi, MD & CEO said “It has been a great start to FY23 with strong consumer demand across channels and categories, resulting in record performance with highest ever Q1 sales and profitability. We expect this momentum to continue for the rest of the year leading to significant improvement in our return on capital employed (ROCE). Further, we will continue to invest behind omnichannel and retail capabilities to build stronger consumer engagement.”
 

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