Arvind Ltd. — Earnings Release 2023

Nov 8, 2022

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PRESS RELEASE

Arvind Limited delivers steady performance in Q2 FY23

Ahmedabad, 8[th] November 2022: Arvind Limited has declared its financial results for the second quarter FY 2023.

• Q2 FY23 revenues up 3% to ₹2170 crores; Textiles up 3% and AMD up 5%

• EBITDA ₹202 crores and PAT ₹125 crores

• AMD continues to grow as planned – H1 revenue up 21%, EBITDA margin improved to 12%

Performance Highlights

Arvind Limited delivered stable set of results for the quarter ending 30[th] September 2022. Revenues from continuing operations stood at ₹2170 crores, EBITDA at ₹202 crores. Profit after Tax from continuing business and before exceptional item was ₹85 crores. Accounting for one-time items, PAT was reported at ₹125 crores.

Overall textile revenues grew by 3% as Woven and Knits volumes held steady. Higher price realization helped hold unit margins, though it suffered in percentage terms.

Advanced Materials clocked 5% growth for the quarter, though on H1 basis revenues were up 21% as many orders has spilled over from Q1 to Q2 in the previous year. AMD EBITDA margins improved from 11.5% in Q1 to 12.3% in Q2 as input cost pressures eased out a bit.

Arvind continued to deliver on its stated objective of reducing its long-term debt which further reduced by 27cr in the quarter. Overall net debt stood at ₹1719 crores aided by improved working capital turns.

About Arvind Limited

Arvind Limited is one of the largest textile companies in India with revenues exceeding USD 1.0 billion. The company is end-to-end supply chain partner to the world’s leading fashion brands, and its Advanced Materials Division makes a variety of Technical Textile products.

For more information, please contact:

Khantil Shah

khantil.shah@arvind.in

Mobile: 9920083282