Indian textile firm Arvind's Q2 sales expand 62% as demand grows

Arvind Limited, one of largest textile companies in India also engaged in apparel retailing, has reported a 62 per cent jump in revenues to ₹2,115 crore in the second quarter (Q2) of FY22 compared to the revenue of ₹1,305 crore in the corresponding period of prior fiscal. For the quarter ended on September 30, 2021, profit surged to ₹70 crore (Q2 FY21: ₹1 crore).

 

Arvind Limited, one of largest textile companies in India also engaged in apparel retailing, reported 62 per cent jump in revenues to ₹2,115 crore in the second quarter (Q2) of FY22 compared to ₹1,305.1 crore in the corresponding period of prior fiscal. For the quarter ended on September 30, 2021, profit surged to ₹70 crore (Q2 FY21: ₹1 crore). #

EBIDTA (earnings before interest, taxes, depreciation, and amortisation) increased 74 per cent during Q2 to ₹212 crore (₹122 crore). Fabric volumes recovered sharply during the reported quarter and surpassed pre-covid levels, while sarment volumes also continued to improve steadily, according to the company.

 

Arvind Limited, one of largest textile companies in India also engaged in apparel retailing, reported 62 per cent jump in revenues to ₹2,115 crore in the second quarter (Q2) of FY22 compared to ₹1,305.1 crore in the corresponding period of prior fiscal. For the quarter ended on September 30, 2021, profit surged to ₹70 crore (Q2 FY21: ₹1 crore). #

Categorically, sales from textile business expanded to ₹1,711 crore (₹1,017 crore) with denim volumes reaching 25 million metres and contributing ₹552 crore (₹335 crore), while wovens clocked 31 million metres with sales reaching ₹604 crore (₹288 crore) in Q2 FY22.

 

Arvind Limited, one of largest textile companies in India also engaged in apparel retailing, reported 62 per cent jump in revenues to ₹2,115 crore in the second quarter (Q2) of FY22 compared to ₹1,305.1 crore in the corresponding period of prior fiscal. For the quarter ended on September 30, 2021, profit surged to ₹70 crore (Q2 FY21: ₹1 crore). #

Furthermore, advanced material’s sales soared 60 per cent to ₹297 crore (₹186 crore) due to strong demand across all segments – human protection, industrial belts and filters, composites.

 

Arvind Limited, one of largest textile companies in India also engaged in apparel retailing, reported 62 per cent jump in revenues to ₹2,115 crore in the second quarter (Q2) of FY22 compared to ₹1,305.1 crore in the corresponding period of prior fiscal. For the quarter ended on September 30, 2021, profit surged to ₹70 crore (Q2 FY21: ₹1 crore). #

In its outlook for the upcoming quarter, Arvind Fashion said that the export customers have already preponed ordering for summer 22 and brands continue to project strong momentum, while domestic market is also likely to stay strong post festival buying. The textile manufacturer expects sales to grow 40 per cent in the third quarter over FY21, and 4 to 5 per cent up sequentially.