Arvind’s Demerged Firms To Make Stock Market Debut In Next Few Weeks, Kulin Lalbhai Says
Arvind’s demerged branded apparel and engineering businesses are expected to make market debut in the next few weeks.
Arvind Ltd.’s demerged brand apparel and engineering businesses will make their stock market debut shortly. “We are expecting both of them to list sometime over the next few weeks,” said Executive Director Kulin Lalbhai in an interview with BloombergQuint.
Commenting on the third-quarter earnings performance, he said the fall in global denim demand and lower dollar realisation due to rupee fluctuation weighed on their bottomline. That may not last for long as the fourth quarter is already showing signs of pick, Lalbhai said.
“We are expecting a substantial improvement in margins going forward.”
Key Highlights*:
- Net profit at Rs 40.1 crore
- Revenue at Rs 1,680.3 crore.
- Ebitda at Rs 149.60 crore
- Operating margin stood at 8.9 percent.
Watch the full interaction here
*Arvind Ltd.’s current operations comprise only denim and textile segments as it demerged its branded apparel and engineering businesses in the previous quarter. Hence, the year-on-year numbers are not comparable.