Arvind Ltd. — Interim / Quarterly Report 2020

Aug 31, 2020

CVIOD

www.arvind.com

August 31, 2020

BSE Ltd. Listing Dept. / Dept. of Corporate Services Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001

Security Code: 500 101 Security ID: ARVIND

National Stock Exchange of India Ltd. Listing Dept., Exchange Plaza, 5^th Floor Plot No. C/1, G. Block Bandra-Kurla Complex Bandra (E) Mumbai - 400 051

Symbol: ARVIND

Dear Sir / Madam,

Sub: Outcome of the Meeting of the Board of Directors held on 30th June 2020

Ref.: Regulations 30, 33 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Pursuant to Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the following:

• 1. Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended 30^th June 2020 approved by the Board of Directors of the Company at their meeting held today along with Limited Review Reports by the Deloitte Haskins & Sells LLP, Statutory Auditors of the Company, for the said quarter.
• 1. A copy of the press release being issued by the Company in respect of unaudited financial results for the quarter ended 30^th June 2020.
• 1. Investor Presentation for Q1 issued in this regard.

The meeting of the Board of Directors of the Company commenced at 11:15 a.m. and concluded at $\bigcap$ : 05 $\bigcap$ $\bigcap$

You are requested to bring this to the notice of all concerned.

Thanking You,

Yours faithfully NAROD R.V. Bhimani Company Secretar

Encl: As above

Arvind Limited, Naroda Road. Ahmedabad. 380 025, India Tel.: +91 79 68268000 CIN: L17119GJ1931PLC000093

Chartered Accountants 19th Floor, Shapath - V S G Highway Ahmedabad - 380 015 Guiarat, India

Tel: +91 79 6682 7300 Fax: +91 79 6682 7400

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF

Arvind Limited

• 1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of Arvind Limited ("the Company"), for the quarter ended June 30, 2020 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Page 1 of 2

1. We draw attention to Note 5 of the statement, which describes the uncertainties and the impact of COVID-19 pandemic on the Company's operations and results as assessed by the Management.

Our conclusion on the Statement is not modified in respect of this matter.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants (Firm's Registration No. 117366W/W-100018)

Kortikeya Kawal

Kartikeya Raval (Partner) (Membership No. 106189) (UDIN 20106189 AAAA HY6239)

Place: Ahmedabad Date: August 31, 2020

Page 2 of 2

Arvind

www.arvind.com

Sr.	Particulars			[₹ in Crores except per share data
No.			Quarter Ended		Year Ended
		30.06.2020	31.03.2020	30.06.2019	31.03.2020
$\mathbf{1}$		Unaudited	Refer Note 3	Unaudited	Audited
	Income
	(a) Revenue from Operations (b) Other Income (Refer Note 4)	493.03	1,489.56	1,741.64
	Total Income	8.96	18,60	28.61	6,705.31 80.16
$\overline{z}$		501.99	1,508.16	1,770.25	6,785.47
	Expenses (a) Cost of materials consumed
	(b) Purchase of stock-in-trade	208.21	745.94	765.25
		22.66	64.37	28.02	3,158.37 214.71
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (d) Project Expenses	(3.25)	(76.36)	97.48	64.27
	(e) Employee benefits expense	9.06	26.85	0.14	27.69
	(f) Finance Costs	121.15	168.63	207.97	776.12
	(g) Depreciation and amortisation expense	54.70	48.42	60.48	224.10
	(h) Other Expenses	60.76	61.27	55.96	240.54
	Total Expenses	163.50	389.85	488.68	1,770.74
3	Profit/(Loss) before Exceptional Items and Tax (1-2)	636.79	1,428.97	1,703.98	6,476.54
4	Exceptional Item (Refer Note 2)	(134.80)	79.19	66.27	308.93
5	Profit/(Loss) before tax (3+4)	(0.41)	(43.60)	(17.59)	(58.82)
6		(135.21)	35.59	48.68	250.11
	Tax Expense: - Current Tax
	- (Excess)/short provision of earlier years		9.35	11.79	48.71
	- Deferred Tax charge/(credit)		11.95		11.95
	Total Tax Expense/(credit)	(58.35)	(9.47)	4.02	18.07
$\overline{ }$	Profit/(Loss) for the period (5-6)	(58.35)	11.83	15.81	78.73
		(76.86)	23.76	32.87	171.38
8	Other Comprehensive Income/(Loss) (net of tax)
	(a) Items that will not be classified to profit and loss
	(i) Remeasurement of defined benefit plan	0.02	14.73	(4.71)
	(ii) Income tax related to items no (i) above (b) Items that will be reclassified to profit and loss	(0.01)	(5.14)	1.64	0.60
	(i) Effective portion of gain/(loss) on cash flow hedges				(0.21)
	(ii) Income tax related to items no (i) above	21.81	(44.83)	1.24	(77.34)
	Other Comprehensive Income/(Loss) (net of tax)	(7.62)	15.67	(0.43)	27.03
		14.20	(19.57)	(2.26)	(49.92)
10	Total Comprehensive Income/(Loss) for the period (7+8)	(62.66)	4.19	30.61	121,46
11	Paid-up Equity Share Capital (Face Value ₹ 10/- per share) Other Equity	258.77	258.77	258.77
12	Earnings per Share in ₹ - (Not Annualised)				258.77 2,594.92
	- Basic
	- Diluted	(2.97)	0.91	1.27	6.62
		(2.97)	0.91	1.27	6.62
	(See accompanying notes to the Standalone Financial Results)

1 The above unaudited standalone financial results were reviewed by the Audit Committee and have been considered and approved by the Board of Directors at their meeting held on August 31, 2020. The same have been subjected

Arvind Limited,
Naroda Road,
Ahmedabad. 380 025, India
Tel.: +91 79 68268000
CIN: L17119G/1931PLC000093

	Exceptional items represents following:	Ouarter Ended			Year Ended
	Particulars	30.06.2020	31.03.2020	30,06.2019	31.03.2020
			Refer Note 3
			10.58	6.21	18.71 24.09
	(a) Retrenchment Compensation	0.41	12.05	11.38
	(b) Provision for Impairment/Loss on Sale of Investments/Loans/share (c) Reversal of Excise Duty Provision	۰	۰		(4.95)
	Impact Due to Covid19	$\overline{\phantom{a}}$	11.40	٠	11.40
	(a) Loss of mark to market of derivative financial instruments	$\overline{\phantom{a}}$	3.28		3.28
	(b) Allowances for doubtful receivables	-	6.29		6.29
	(c) Reversal of Benefit under Garment and Apparel Policy, 2017	0.41	43.60	17.59	58.82

The figures for the quarter ended March 31,2020 are the balancing figures between audited figures in respect of the full financial year and the unaudited $\overline{3}$ published year-to-date figures upto December 31,2019.

0.03 crome includes share of Loss from LLPs amounting to ₹ NIL for the quarter ended June 30, 2020 (previous year - Loss of ₹ 0.18 crores and Profit of ₹ 0.03 crore for the quarter ended March 31, 2020 and June 30, 2019 r respectively).

The World Health Organisation (WHO) declared outbreak of Coronavirus Disease (COVID-19) a global pandemic on March 11, 2020. Consequent to this,
Government of India declared lockdown on March 23, 2020 and the Company tempo ושטע באנד ושטא א האט א א האט א א א האט א א א א האט א א האט א האט א האט א האט א האט א האט א האט א האט א האט א ה
during the month of May 2020 and in a staggered manner at some of the manufacturing locations of the Company a appropriate government authorities.

The Company has made detailed assessment of its liquidity position for the next 12 months including unutilised sanctioned credit limits and avenues to raise The Company has made detailed assessment of its liquidity position for the next 12 months including unutilised sanctioned credit limits and avenues to raise
new funds / refinancing, recoverability of its assets comprising בסחומים או הבסיס של הבסיס של המשפח המשפח של השפח המשפח המשפח המשפח המשפח המשפח המשפח המשפח המשפח המשפח המשפח ה
כסst containment initiatives which will yield results in medium to long term. At this time,the Company expect in 6-9 months.

The situation is changing rapidly giving rise to inherent uncertainty around the extent and timing of the potential future impact of the COVID-19 on revenue The successive is changing report giving rise to innerent uncertainty around the extent and uning or the potential ruther impact or the COVID-19 on reverting
from operations, profitability and recoverability of investments investments and account receivables and expects to recover faster compared to the estimates made for the current financial year.

As a result of lockdown the volumes for the current quarter is impacted. Revenue from operations and profitability have decreased due to COVID-19 related
market volatility. Therefore, results for current quarter is not com

For Arvind Limited

Samony Sum Sanjay S. Lalbhai Ahmedabad Chairman & Managing Director August 31, 2020

Arvind Limited, Arvina Emirco,
Naroda Road,
Ahmedabad, 380 025, India
Tel.: +91 79 68268000 CIN: L17119GJ1931PLC000093

Sr.	Particulars		Quarter Ended
No		30.06.2020	31.03.2020	30.06.2019	31.03.2020
		Unaudited	Refer Note 3	Unaudited	Audited
1	Segment Revenue (Net Sales/Income from Operations)
	Textiles (a)	398.50	1,312.47	1,578.66	5,987.09
	Advanced Material (b)	84.98	159.27	141.61	628.78
	Others (c)	9.57	17.82	21.75	90.94
	Total	493.05	1,489.56	1,742.02	6,706.81
	Less : Inter Segment Sales	0.02		0.38	1.50
	Net Sales/Income from Operations	493.03	1,489.56	1,741.64	6,705.31
$\overline{2}$	Segment Results (Profit/(Loss) before interest & Tax)
	Textiles (a)	(67.88)	86.81	126.36	496.41
	Advanced Material (b)	5.74	19.59	13.71	75.05
	(c) Others	(11.31)	(12.30)	(18.39)	(55.85)
	Total	(73.45)	94.10	121.68	515.61
	Less :
	Interest and Finance Charges (Net) (a)	54.70	48.42	60.48	224.10
	Other Unallocable expenditure (net of un-allocable income) (b) Profit/(Loss) Before Tax	7.06	10.09	12.52	41.40
		(135.21)	35.59	48.68	250.11
3	Segment Assets
	Textiles (a)	4,285.83	4,367.87	4,589.96	4,367.87
	Advanced Material (b)	436.90	406.00	479.93	406.00
	Others (c)	152.82	149.88	152.95	149.88
	(d) Unallocable	1,856.33	1,890.80	1,812.12	1,890.80
	Total Segment Assets	6,731.88	6,814.55	7,034.96	6,814.55
4	Segment Liabilities
	Textiles (a)	1,130.06	1,441.45	983.37	1,441.45
	Advanced Material (b)	93.74	58.50	54.87	58.50
	Others (C)	56.36	54.78	50.77	54.78
	Unallocable (d)	93.89	93.45	142.15	93.45
	Total Segment Liabilities	1,374.05	1,648.18	1,231.16	1,648.18

SEGMENTWISE REVENUE, RESULTS, SEGMENT ASSETS AND LIABILITIES (STANDALONE) FOR THE QUARTER ENDED JUNE 30, 2020

Notes :

"
Considering the nature of the Company's business and operations, as well as based on reviews performed by Chief operating decision maker regarding
The resource allocation and performance management, the Company has ident

Classification of Reportable Segments:

VLAIUT

1 Textiles : Fabrics, Garments and Fabric Retail.

2 Advanced Materials : Human Protection fabric & garments, Industrial Products, Advance Composites and Automotive fabrics.

3 Others : E-commerce, Agriculture Produce, EPABX and One to Many Radio, Water Treatment and Others.

For Arvind Limited

Sammong Summer Sanjay S. Lalbhai Chairman & Managing Director

Ahmedabad

August 31, 2020

Arvind Limited, Arvina Limited,
Naroda Road,
Ahmedabad. 380 025, India
Tel.: +91 79 68268000
CIN: L17119GJ1931PLC000093

$\mathcal{L}=\mathcal{L}$

$\bar{z}$

Chartered Accountants 19th Floor, Shapath - V S G Highway Ahmedabad - 380 015 Gujarat, India

Tel: +91 79 6682 7300 Fax: +91 79 6682 7400

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVTEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF

Arvind Limited

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of ARVIND LIMITED ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group"), and its share of the net profit after tax and total comprehensive income of its joint ventures for the quarter ended June 30, 2020 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
• 1. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the results of the parent, subsidiaries and joint ventures as given in the Annexure to this report.

Page 1 of 4

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

1. We draw attention to Note 5 of the statement, which describes the uncertainties and the impact of COVID-19 pandemic on the Group's operations and results as assessed by the Management.

Our conclusion on the Statement is not modified in respect of this matter.

1. We did not review the financial information of 10 subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total revenues of Rs. 112.22 crore for the quarter ended June 30, 2020, total net loss after tax of Rs. 18.62 crore for the quarter ended June 30, 2020 and total comprehensive loss of Rs. 26.31 crores for the quarter ended June 30, 2020, as considered in the Statement, whose interim financial information have not been reviewed by us. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of these matters.

1. The consolidated unaudited financial results includes the interim financial information of 14 subsidiaries which have not been reviewed by their auditors, whose interim financial information, total revenue of Rs. 23.35 crore for the quarter ended June 30, 2020, total loss after tax of Rs. 1.98 crore for the quarter ended June 30, 2020 and Total comprehensive loss of Rs. 0.52 crore for the quarter ended June 30, 2020, as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of profit after tax of Rs. 0.11 crore for the quarter ended June 30, 2020 and total comprehensive income of Rs. 0.11 crore for the quarter ended June 30, 2020, as considered in the Statement, in respect of 6 joint ventures, based on their interim financial information which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.

Page 2 of 4

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants (Firm's Registration No. 117366W/W-100018)

Kartikeya Kaval

Kartikeya Raval (Partner) (Membership No. 106189) (UDIN 20106189AAAAH27543)

Place: Ahmedabad Date: August 31, 2020

Page 3 of 4

Annexure to Independent Auditor's Review Report

The Parent

1. Arvind Limited

List of Subsidiaries

• 1. Arvind PD Composite Private Limited
• 1. Arvind OG Nonwovens Private Limited
• 1. Arvind Internet Limited
• 1. Arvind Goodhill Suit Manufacturing Private Limited
• 1. Arvind Smart Textile Limited
• 1. Syntel Telecom Limited
• 1. Arvind Envisol Limited
• 1. Arvind Worldwide Inc. USA
• 1. Arvind Nilloy Exports Private Limited
• 1. Arvind Textile Mills Limited
• 1. Westech Advanced Materials Limited
• 1. Arvind Lifestyle Apparel Manufacturing PLC, Ethiopia
• 1. Brillaire Inc, Canada
• 1. Maruti and Ornet Infrabuild LLP
• 1. Arvind Ruf and Tuf Private Limited
• 1. Arvind Premium Retail Limited
• 1. Arvind True Blue Limited
• 1. Arvind Enterprise FZC
• 1. Arvind BKP Berolina Private Limited (Previously known as Arvind Transformational Solutions Private Limited)
• 1. Arya Omnitalk Wireless Solutions Private Limited
• 1. Arvind Envisol, PLC
• 1. Enkay LLP
• 1. Arvind Polser Engineered Component Penels Private Limited
• 1. AJ Environmental Solutions Company [w.e.f October 25, 2019]

List of Joint Ventures

• 1. Arya Omnitalk Radio Trunking Services Private Limited
• 1. Arudrama Developments Private Limited
• 1. Arvind and Smart Value Homes LLP
• 1. Arvind Norm CBRN Systems Private Limited.
• 1. Adient Arvind Automotive Fabrics India Private Limited
• 1. PVH Arvind Manufacturing PLC [w.e.f October 1, 2019]

Page 4 of 4

STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2020

				[₹ in Crores except per share data]
Sr.	Particulars		Quarter Ended		Year Ended
No		30.06.2020	31.03.2020	30.06.2019	31.03.2020
		Unaudited	Refer Note 3	Unaudited	Audited
$\mathbf{1}$	Income
	(a) Revenue from Operations	599.28	1.641.56	1,896.45	7,369.00
	(b) Other Income	3.94	8.59	20.76	55.24
	Total Income	603.22	1,650.15	1,917.21	7,424.24
$\overline{2}$	Expenses
	(a) Cost of materials consumed	236.88	786.02	792.25	3,300.46
	(b) Purchase of stock-in-trade	47.56	100.58	59.43	365.91
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	2.61	(68.15)	103.01	69.45
	(d) Project Expenses	11.35	36.18	10.06	73.84
	(e) Employee benefits expense	147.64	204.23	246.60	942.24
	(f) Finance Costs (g) Depreciation and amortisation expense	59.33 71.89	52.42 77.01	62.38 66.34	236.89 290.45
	(h) Other Expenses	182.17	425.08	530.70	1,924.71
	Total Expenses	759,43	1,613.37	1,870.77	7,203.95
з	Profit/(Loss) before Share of Profit/(Loss) of Joint Ventures and Exceptional	(156.21)	36.78	46.44	220.29
	Items and tax $(1-2)$
4	Share of profit/(Loss) of Joint Ventures accounted for using Equity Method	0.11	(0.76)	0.48	(2.29)
5	Profit/(Loss) before Exceptional items and tax (3+4)	(156.10)	36.02	46.92	218.00
6	Exceptional Items (Refer Note 2)		(47.03)	(6.21)	(50.21)
7	Profit/(Loss) before Tax (5+6)	(156.10)	(11.01)	40.71	167.79
8	Tax Expense:
	- Current Tax	1.34	11.92	15.39	64.67
	- Short Provision of earlier years - Deferred Tax charge/(credit)	(60.13)	11.95 (17.56)	0.93	12.01 (0.99)
	Total Tax Expense	(58.79)	6.31	16.32	75.69
9	Profit/(Loss) for the period (7-8)	(97.31)	(17.32)	24.39	92.10
	Attributable to:
	Equity holders of the Parent	(95.31)	(12.30)	24.10	95.65
	Non Controlling Interest	(2.00)	(5.02)	0.29	(3.55)
	10 Other Comprehensive Income/(Loss) (net of tax)
	(a) Items that will not be reclassified to profit and loss
	(i) Remeasurement of defined benefit plans (ii) Income tax related to item (i) above	(0.01)	14.07 (4.98)	(4.71) 1.64	(0.03) (0.06)
	(b) Items that will be reclassified to profit and loss
	(i) Effective portion of gain/(loss) on cash flow hedges	21.74	(44.73)	0.84	(77.75)
	(ii) Exchange differences on translation of foreign operations	(6.15)	1.43	(4.55)	(12.42)
	(iii) Income tax related to item (i) above	(7.60)	15.65	(0.33)	27.14
	Other Comprehensive Income/(Loss) (net of tax)	7.98	(18.56)	(7.11)	(63.12)
	Attributable to:
	Equity holders of the Parent	7.97	(18.51)	(6.99)	(62.95)
	Non Controlling Interest	0.01	(0.05)	(0.12)	(0.17)
	11 Total Comprehensive Income/(Loss) (9+10)	(89.33)	(35.88)	17.28	28.98
	Attributable to: Equity holders of the Parent	(87.34)	(30.81)	17.11	32.70
	Non Controlling Interest	(1.99)	(5.07)	0.17	(3.72)
	12 Paid-up Equity Share Capital (Face Value ₹ 10/- per share)	258.77	258.77	258.77	258.77
	13 Other Equity				2,449.81
	14 Earnings per Share in ₹ - (Not Annualised)
	- Basic	(3.68)	(0.48)	0.93	3.70
	- Diluted	(3.68)	(0.48)	0.93	3.70
	(See accompanying notes to the Consolidated Financial Results)

i ashloning
Possibilities

Ahmed 1994
Tel.: +91 79 68268000
CIN: L17119GJ1931PLC000093

Arvind

Notes:

The above unaudited consolidated financial results were reviewed by the Audit Committee and have been considered and approved by the Board of Directors at their meeting held on August 31, 2020. The same have been subjected to Limited Review by the Statutory Auditors.

2 Exceptional items represents following:

MOI

Particulars		Ouarter Ended
	30.06.2020	31.03.2020	30.06.2019	31.03.2020
		Refer Note 3
(a) Retrenchment Compensation		10.58	6.21	18.71
(b) Provision for Impairment/Loss on Sale of Investments/share application money	÷	11,82		11.82
(c) Reversal of Excise Duty Provision.				(4.95)
Impact Due to Covid19
(a) Loss of Mark to market of derivative financial instruments		11.40		11.40
(b) Allowances for doubtful receivables		6.94		6.94
(c) Reversal of Benefit under Garment and Apperal Policy.2017		6.29		6.29
Total		47.03	6.21	50.21

3 The figures for the quarter ended March 31, 2020 are the balancing figures between audited figures in respect of the full financial year and the unaudited published year-to-date figures upto December 31, 2019.

$\overline{a}$ The company has intimated the Stock Exchange to publish only Consolidated Financial results and hence, the standalone financial results have not been published. However, the standalone financial results for the quarter ended June 30, 2020 are available on Company's website (www.arvind.com). Chandalong Inform

Standalong Thrometicu

Particulars	Quarter Ended	Year Ended
	30.06.2020	31.03.2020	30.06.2019	31.03.2020
		Refer Note 3
Revenue	493.03	1,489.56	1.741.64	6,705.31
Profit/(Loss) before Tax	(135.21)	35.59	48.68	250.11
Profit/(Loss) after Tax	(76.86)	23.76	32.87	171.38
Other Comprehensive Income/(Loss) (net of tax)	14.20	(19.57)	(2.26)	(49.92)
Total Comprehensive Income/(Loss) after tax	(62.66)	4.19	30.61	121.46

5 World Health Organisation (WHO) declared outbreak of Coronavirus Disease (COVID-19) a global pandemic on March 11, 2020. Consequent to this, Government of India declared lockdown on March 23, 2020 and the Group temporarily suspended the operations in all the units of the Group in compliance with the lockdown instructions issued by the Central and State Governments. COVID-19 has substantially impacted the normal business operations of the Group by way of interruption in production, supply chain disruption, unavailability of personnel, closure/lock down of production facilities etc. during the lock-down period which has been extended till May 17, 2020. Production and supply of goods has commenced at various dates during the month of May 2020 and in a staggered manner at some of the manufacturing locations of the Group after obtaining permissions from the appropriate government authorities

The Group has made detailed assessment of its liquidity position for the next 12 months including unutilised sanctioned credit limits and avenues to raise new funds/refinancing, recoverability of its assets comprising of property, plant and equipment, intangible assets, right of use assets, investments, inventories and trade receivables. Based on current indicators of future economic conditions and estimates made by the Management of the Group, the Group expects to recover the carrying amount of these assets. It expects short term challenges in operating environment and has undertaken various cost containment initiatives which will yield results in medium to long term. At this time, the Group expects to attain the pre- covid levels of performance in 6-9 months.

The situation is changing rapidly giving rise to inherent uncertainty around the extent and timing of the potential future impact of the COVID-19 on revenue from operations, profitability and recoverability of investments and account receivables. The outcome of the same may be different from that estimated as at the date of approval of these financial results. The Group has assessed the impact of the COVID-19 on its operations & profitability and recoverability of investments and account receivables and expects to recover faster compared to the estimates made for the current financial year.

As a result of lockdown the volumes for the current quarter is impacted. Revenue from operations and profitability have decreased
due to COVID-19 related market volatility. Therefore, results for current quarter is not com period results.

For Arvind Limited

Sameroy Sum

Sanjay S. Lalbhai Chairman & Managing Director

Ahmedahad August 31, 2020

Arvind Limited. Naroda Road, Ahmedabad. 380 025, India Tel.: +91 79 68268000 CIN: L17119GJ1931PLC000093

Prio
Prios billit

	SEGMENTWISE REVENUE, RESULTS, SEGMENT ASSETS AND LIABILITIES (CONSOLIDATED) FOR THE QUARTER ENDED JUNE 30, 2020
					[₹ in Crores]
Sr.	Particulars		Quarter Ended		Year Ended
No		30.06.2020	31,03,2020	30.06.2019	31.03.2020
		Unaudited	Refer Note 3	Unaudited	Audited
$\mathbf{1}$	Segment Revenue (Net Sales/Income from Operations)
	(a) Textiles	435.65	1,350.85	1,616.63	6,173.21
	(b) Advanced Material	106.47	178.43	167.87	713.40
	Others (C)	64.38	116.82	122.65	535.30
	Total	606.50	1,646.10	1,907.15	7,421.91
	Less: Inter Segment Sales	7.22	4.54	10.70	52.91
	Net Sales/Income from Operations	599.28	1,641.56	1,896.45	7,369.00
	Net Sales/Income from Operations
	2 Segment Results (Profit/(Loss) before Interest & Tax)
	(a) Textiles	(83.49)	52.76	114.07	414.44
	Advanced Material (b)	9.77	20.06	13.95	75.08
	Others (c) Total	(10.42)	(17.33)	(15.70)	(31.27)
	Less :	(84.14)	55.49	112.32	458.25
	Interest and Finance Charges (Net) (a)	59.33	52.42	62.38	236.89
	(b) Other Unallocable expenditure (net of un-allocable income)	12.63	14.08	9.23	53.57
	Profit/(Loss) Before Tax	(156.10)	(11.01)	40.71	167.79
3	Segment Assets
	(a) Textiles	4,771.52	4,867.21	5,059.01	4,867.21
	Advanced Material (b)	579.70	541.38	615.10	541.38
	(c) Others	605.48	622.89	563.17	622.89
	Unallocable (d)	1,144.47	1,133.96	1,160.20	1,133.96
	Total Segment Assets	7,101.17	7,165.44	7,397.48	7,165.44
4	Segment Liabilities
	Textiles (a)	1,234.85	1,540.97	1,085.38	1,540.97
	Advanced Material (b)	111.39	76.20	75.91	76.20
	(c) Others	227.44	236.48	211.34	236.48
	Unallocable (d)	86.45	89.82	138.53	89.82
	Total Segment Liabilities	1,660.13	1,943.47	1,511.16	1,943.47

Notes:

Considering the nature of the Company's business and operations, as well as based on reviews performed by Chief operating decision maker regarding resource allocation and performance management, the Company has identified following as reportable segments in accordance with
the requirements of Ind AS 108 - " Operating Segments".

Classification of Reportable Segments:

ACVIOI

1 Textiles : Fabrics, Garments and Fabric Retail.

• 2 Advanced Materials : Human Protection fabric & garments, Industrial Products, Advance Composites and Automotive fabrics.
• 3 Others : E-commerce, Agriculture Produce, EPABX and One to Many Radio, Water Treatment and Others.

For Arvind Limited

Samson Summe

Sanjay S. Lalbhai Chairman & Managing Director

Ahmedabad

August 31, 2020

Arvind Limited, Arvinu Lininea,
Naroda Road,
Ahmedabad, 380 025, India
Tel.: +91 79 68268000
CIN: L17119GJ1931PLC000093

PRESS RELEASE

Arvind Limited Q1 results clearly indicate post-Covid recovery

Ahmedabad, 31st August 2020: Arvind Limited has declared its financial results for the first quarter of FY 2021.

• Q1 revenues stood at INR 599 crores, and EBITDA at negative INR 29 crores
• June/July numbers indicate recovery of revenues to around 60% of previous year, and EBITDA to a healthy 11%

Performance Highlights

• Denim volumes have recovered to around 70% in July Export volumes fully recovered, Domestic still lagging; Woven volumes recovered to 64% in July, expect ramp-up in Q3
• Monthly garment volumes recovered to ~60% by June
• Advanced Materials monthly revenues and margins have fully recovered to pre-Covid levels
• Multi-pronged program resulted in long term fixed cost reduction of 15%
• Net borrowing likely to return back to March end levels, by end of Q2; Liquidity position comfortable

About Arvind Limited

Arvind Limited is the largest textile company in India with revenues of USD 1.0 billion. The company is end-to-end supply chain partner to the world's leading fashion brands.

For more information, please contact:

Khantil Shah

khantil.shah@arvind.in

Mobile: 9920083282

Arvind Limited Board Meeting

31st August 2020| Ahmedabad

Safe harbour statement

Certain statements contained in this document may be statements of future expectations and other forward looking statements that are based on management's current view and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. None of Arvind Limited or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its content or otherwise arising in connection with this document. This document does not constitute an offer or invitation to purchase or subscribe for any shares and neither it nor any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

Agenda

• Q1 FY2021 summary financial performance
• Performance of key businesses
• Outlook

Executive Summary: clear signs of recovery starting June/July

• Post a plunge in April, revenues have started recovering
• June/July revenues have reached ~55-60% levels of previous year
• AMD monthly revenues have recovered to pre-Covid levels
• Multi-pronged efforts has helped reduced Fixed Cost by ~15%, structurally
• EBITDA margins have recovered to pre-Covid levels, and even higher in few businesses
• Cash accruals followed above trends, and became positive starting June
• Net Borrowing went up from Rs 2371 crs as of 31st Mar 2020 to Rs 2702 crs as of 30th Jun 2020
• Expected to return to Mar 2020 levels by end of Q2

Overall top-line has recovered quite well post lock-down

EBITDA margins have recovered to pre-Covid levels, after a sharp drop in April 2020

	Feb Jan -		Mar	May	Jun	Jul	(p) Aug
Textiles	9 3%	##	10 0%	8 3%	13 4%	11 6%	12 6%
Advanced Materials	12 7%	##	16 8%	19 9%	15 7%	12 6%	12 6%
Overall	9 6%	##	9 8%	8 9%	12 6%	10 2%	11 1%

Higher portion of exports and favourable exchange rates played a key role

EBITDA and Cash Accruals became positive starting May and June respectively; Net borrowing returning towards pre-Covid levels

Net Borrowing (INR Crs)

Profit and Loss summary: Lock-down related disruptions deeply impacted the Q1FY21 financials

All figures in Crs INR	Q1 FY21	Q1 FY20	Change
from Operations Revenues	599	1 896 ,	68% -
EBIDTA	29 -	154	119% -
Profit Before Tax	156 -	46	437% -
Profit After Tax	95 -	30	415% -
Exceptional Less Item :	0	6
Profit Net	95 -	24	496% -

Agenda

• Q1 FY2021 summary financial performance
• Performance of key businesses
• Outlook

Textiles

Fabric volumes have recovered well, esp in Denim; Domestic market for Woven fabrics still quite challenging

• Average price realization for Denim has improved to Rs 205/meter, whereas Wovens has seen a slight erosion to Rs 168/meter

Garment volumes revived at the start of Q2

Million Pcs	April	May	June	July	(p) Aug
FY1920	3 0	3 5	3 5	3 4	3 6
FY2021	0 5	1 6	1 9	2 0	2 2
Monthly
Volume as
of % PY	16%	47%	56%	59%	63%

* Excludes Essentials and Suits

Textiles

Textile revenues for Q1 got severely impacted by Covid-19; monthly run-rate reviving steadily

AMD: Revenues and EBITDA margins have fully recovered to FY20 monthly run-rate

Monthly revenues INR Crs

Agenda

• Q1 FY2021 summary financial performance
• Performance of key businesses
• Outlook

Forward looking commentary

• Revival in Q2 based on Denim and Garments returning to ~75-80% levels and Wovens to ~55-60%
• Q3 expected to grow by further 10% over Q2
• Wovens & Knits revenue growth to help increase sales in Q3
• Denim volumes to be marginally lower as it is lean season quarter
• EBIDTA margins in Q2 expected to be in the positive 10%-11% range
• Q3 onwards, margins will depend on input costs and exchange rate movements
• Net Debt at end of Q2 will be close to March end number; Q3 will further reduce

Thank You!