Arvind Fashions Q4 Review - ‘Unlimited’ Still Remains A Drag: ICICI Securities

Employees wearing masks handle fabric on the cutting division production line in Tiruppur, Tamil Nadu, India. (Photographer: Dhiraj Singh/Bloomberg)

Arvind Fashions Q4 Review - ‘Unlimited’ Still Remains A Drag: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Key takeaways from Arvind Fashions Ltd.’s Q4 FY21 results:

  1. Overall sales grew 14% YoY – in line with our estimates

  2. ‘Power brands’ achieved sales growth of 17% YoY with ~7.5% pre-Indian-accounting standard 116 Ebitda margins.

  3. Specialty retail and emerging brands incurred pre-Ind-AS-116 Ebitda loss of ~Rs 180 million.

  4. Company passed an enabling resolution to raise up to Rs 4 billion though it has no immediate plan to implement it.

  5. Net debt declined by more than Rs 3 billion in FY21 to Rs 9.2 billion owing to equity infusion and working capital improvement.

Click on the attachment to read the full report:

ICICI Securities Arvind Fashions Q4FY21 Result Update.pdf

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