Arvind Ltd. — Earnings Release 2023

Aug 1, 2022

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PRESS RELEASE

Arvind Limited delivers good performance in Q1 FY23

Ahmedabad, 1[st] August 2022: Arvind Limited has declared its financial results for the first quarter FY 2023.

• Q1 FY23 revenues up 64% to ₹2352 crores; Textiles up 68% and AMD up 45%

• EBITDA ₹220 crores and PAT (from continuing business and before exceptional item) ₹106 crores

• Long Term debt reduced by ₹56 crores during the quarter

Performance Highlights

Arvind Limited delivered a strong set of results in line with the guidance provided earlier. Revenues from continuing operations stood at ₹2352 crores, EBITDA at ₹220 crores and Profit after Tax (from continuing business and before exceptional item) of ₹106 crores.

Textiles segment grew 68% as result of both volume growth and price realization. Margins continued to be under pressure as input costs remained high remained high and increase in unit price realizations helped offset only the cost increases.

Advanced Materials clocked 45% growth, again resulting from both volume growth as well as increased pricing.

During this quarter, Arvind Limited entered into a definitive agreement to sell its entire shareholding of Arvind Internet to Bigfoot Retail Solutions.

Arvind continued to deliver on its stated objective of reducing Long Term debt, and reduced it by ₹56 crores during this quarter. Arvind Limited closed the quarter at a net debt of ₹1809 crores.

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