Arvind Ltd. — Interim / Quarterly Report 2021

Oct 27, 2021

l J\rVInd

www.arvind.com

October 27, 2021

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

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

Security Code : 500 101 Security ID : ARVIND

Symbol : ARVIND

Dear Sir I Madam,

Sub: Outcome of the Meeting of the Board of Directors held on 27th October 2021

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 Obligatiot1s and Disclosure Requirements) Regulations, 2015, we enclose herewith the following:

• 1. Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended 30th September 2021 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 30th September 2021.
• 1. Investor Presentation for Q2 and Hl issued in this regard .

The meeting of the Board of Directors of the Company commenced at 11:30 a.m. and concluded at /2. : 3 0 p.Jn . ^I

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

Thanking You,

Yours faithfully,

R.V. Bhimani \ Company Secretary

Encl : As above

Arvind Limited, Naroda Road, Ahmedabad. 380 025, India le.: +917968268000 CIN: L 17119GJ1931 PLC000093

Deloitte Haskins & Sells LLP

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

Tel: +91 79 6682 7300 Fax: +91 79 6682 7 400

INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW 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/(loss) after tax and total comprehensive income/(loss) of its joint ventures for the quarter and half year ended September 30, 2021 ("the Statement") being submitted by the Parent pursuant to the requirement of Regulation 33 and Regulation 52 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 (!CAI). 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.
• 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 6 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 and Regulation 52 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 1of3

400 013, Maharashtra, India (LLP Identification No. MB-8737)

Deloitte Haskins & Sells LLP

1. We did not review the financial information of 12 subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflect total assets of Rs . 949. 76 crores, total revenues of Rs. 176.31 crores and Rs.316.49 crores for the quarter and half year ended September 30, 2021 respectively, total net loss after tax of Rs. 26.31 crores and Rs. 51.61 crores for the quarter and half year ended September 30, 2021 respectively, total comprehensive loss of Rs. 30.09 crores and Rs. 59. 73 crores for the quarter and half year ended September 30, 2021 respectively and net cash outffows of Rs. 3.68 Crores for the half year ended September 30, 2021 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 12 subsidiaries which have not been reviewed by their auditors, whose interim financial information reflects total assets of Rs. 165.67 crores, total revenue of Rs. 33.50 crores and Rs. 56.02 crores for the quarter and half year ended September 30, 2021 respectively, total profit/ (loss) after tax of Rs. 2.32 crores and Rs. (3.19) crores for the quarter and half year ended September 30, 2021 respectively, Total comprehensive Income/ (loss) of Rs. 2.22 crores and Rs. (2.12) crores for the quarter and half year ended September 30, 2021 respectively and net cash inflows of Rs. 2.34 Crores for the half year ended September 30, 2021 as considered in the Statement. The consolidated unaudited financial results also includes the Group's share of profit/ (loss) after tax of Rs . 0.11 crores and Rs. (0.14) core for the quarter and half year ended September 30, 2021 respectively and total comprehensive income/ (loss) of Rs. 0.11 crores and Rs. (0.14) crores for the quarter and half year ended September 30, 2021 respectively, 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.

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 Raval (Partner) (Membership No. 106189) UDIN: ~l/OG 1gqAAAAN£Cl /66

Place: Ahmedabad Date: October 27, 2021

Deloitte Haskins 8r. Sells LLP

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 Sports Fashion Private Limited (Formerly known as 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 (Formerly known as Arvind Transformational Solutions Private Limited)
• 1. Arya Omnitalk Wireless Solutions Private Limited
• 1. Arvind Envisol, PLC
• 1. Enkay LLP
• 1. Arvlnd Polser Engineered Component Panels Private Limited
• 1. AJ Environmental Solutions Company

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 Arvlnd Manufacturing PLC

ArVIno

.....

	STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2021
							[' in Crores except per share data]
	Sr. Particulars		Quarter Ended			Half Year Ended	Year Ended
No			30.09.202l. 30.06.202.1		30.09.2020 30.09.2021 30.09.2020 31.03 2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Income
	(a) Revenue from Operations (b) other Income	2,115.14 17.60	1,439.43 9.92	1,305.17 13.78	3,554.57 27.52	1,904.45 17.72	5,072.98 51.59
	Total Income	2,132.74	1,449.35	1,3.18.95	3,582.09	1,922.17	5,124.57
2	Expenses
	(a) Cost of materials consumed	1,086.24	838.89	444.82	1,925.13	681.70	2,088.82
	(b) Purchase of stock-in-trade	70.42	44.73	95.96	115.15	143.52	271.81
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(31.53)	(173.71)	133.24	(205.24)	135.85	161.64
	( d) Project Expenses (e) Employee benefits expense	47.05 212.00	14.46 188.32	6.40 173.57	61.51 400.32	17.75 321.21	39.86 696.51
	(f) Finance Costs	48.13	47.34	60.01	95.47	119.34	224.51
	(g) Depreciation and amortisation expense	65.93	66.59	72.69	132.52	144.58	285.15
	( h) Other Expenses	518.47	422.69	329.71	941.16	511.88	1,351.73
	Total Expenses	2,016.71	1,449.31	1,316.40	3,466.02	2,075.83	5,120.03
3	Prollt/(Loss) before Share of Profit/(Loss) of Joint Ventures and Exceptional Items and tax ( 1-2)	116.03	0.04	2.55	116.07	(153.66)	4.54
4	Share of profit/(Loss) of Joint Ventures accounted for using Equity Method	0.11	(0.25 )	(0.0ll	(0. 14)	0. 10	0.44
5	Profit/(Loss) before Exceptional items and tax (3+4)	116.14	(0.21)	2.54	115.93	(153.56)	4.98
6	Exceptional Items (Refer Note 2)	-	(3.62)	(22.34)	(3.62)	(22.34)	(35.89)
7	Proflt/(Loss) before Tax (5+6)	116.14	(3.83)	(19.80)	112.31	(175.90)	(30.91)
8	Tax Expense : - Current Tax	19.86	1.48	2.59	21.34	3.93
	- Excess Provision of earlier years	-	-	-	-	-	11.20 (6.45)
	- Deferred Tax charge/(credlt)	25.22	6. 11	(16.53)	31.33	(76.66)	(8.27)
	Total Tax Expense/(Credit)	45.08	7.59	(13.94)	52.67	(72.73)	(3.52)
9	Prollt/(Loss) for the period (7-8)	71.06	(11.42)	(5.86)	59.64	(103.17)	(27.39)
	Attributable to: Equity holders of the Parent	69.58	(8.35)	0.70	61.23	(94.61)	(16.52)
	Non Controllinq Interest	1.48	(3.07)	(6.56)	(1.59)	(8.56)	(10.87)
	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	5.68 (1.80)	5.41 (l.81)	(0.02) 0.04	11.09 (3.61)	(0.03) 0 .04	23.82 (8.03)
	(iii) Share of Other Comprehensive Income of Joint Venture accounted for using	-	-	-	-	-	(0.02)
	Equity method (net of tax) (b) Items that will be reclassified to profit and loss
	(I) Effective portion of gain/(loss) on cash flow hedges	11.51	(11.61)	25.90	(0.10)	47.64	53.55
	(ii) Exchange differences on translation of foreign operations	(4.38)	(3.66)	(8.87)	(8.04)	(15.02)	(24.41)
	(Iii) Income tax related to item (i) above	(4.02)	4.06	(9.07)	0.04	{16.67)	C18.72l
	Other Comprehensive Income/(Loss) (net of tax)	6.99	(7.61)	7.98	(0.62)	15.96	26.19
	Attributable to: Equity holders of the Parent
	Non Controlling Interest	6.97 0.02	(7.62) 0 .01	7.93 0.05	(0.65) 0.03	15.90 0 .06	25.95 0.24
	11 Total Comprehensive Income/(Loss) (9+10)	78.05	(19.03)	2.12	59.02	(87.21)	(1.20)
	Attributable to:
	Equity holders of the Parent Non Controlling Interest	76.55 1.50	(15.97) (3.06)	8.63 (6.51)	60.58 (1.56)	(78.71) (8.50)	9.43 (10.63)
	12 Paid-up Equity Share Capital (Face Value 't 10/- per share)	259.04	258.92	258.92	259.04	258.92	258.92
	13 Other Equity						2,460.37
	14 Earnings per Share in ' • (Not Annualised)
	- Basic - Diluted	2.69 2.67	(0.32) (0.32)	0.03 0.03	2.37 2.35	(3.65) (3.65)	(0.64 ) (0.64)
	I rsee accompanying notes to the Consolidated Financial Results)

Ar11nd I. imitecJ Naroda Roaij. Ahmedabad 3i3•) Oh l11 d1a Tel +91 79 68268000 CIN L 171 l 9GJ 1931 PLCOOOO'J J

J\rv1no

Notes:

1 The above consolidated unaudited financial results were reviewed by the Audit Committee and have been considered and approved by the Board of Directors at their meeting held on October 27, 2021. The same have been subjected to Limited Review by the Statutory Auditors.

2 Exceptional items represents following:

Particulars		Quarter Ended		Half Year Ended	Year Ended
	30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
(a) Retrenchment Compensation	-	-	2.86	-	2.86	2.86
(b) Provision of diminution in value of investments and share application money	-	-	19.48	-	19.48	19.85
(c) Interest on Stamp Duty on Demerger in financial year 2016-17	-	3.62	-	3.62	-	-
(d) Impairment in Goodwill	-	-		-	-	13.18
Total	-	3.62	22.34	- 3.62	- 22.34	35.89

3 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 half year ended September 30, 2021 are available on Company's website (www.arvind.com).

Standalone Information ;

Particulars		Quarter Ended		H"lr Yecir Ended	Year Ended
	30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue from Operations	1,988.61	1,339.92	1, 169.75	3,328.53	1,662.78	4,528.54
Profit/( Loss) before Tax	113.01	2.90	21.88	115.91	(113.33)	56.04
Profit/ (Loss) after Tax	74.72	1.89	70.70	76.61	(6.16)	92.67
Other Comprehensive Income/(Loss) (net of tax)	10.85	(4.19)	16.85	6.66	31.05	49.37
Total Comorehensive Income/Closs\ after tax	'"' 57	(2.30\	R7 ,55	83.27	24 RO	142.04

4 The outbreak of COVID-19 pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Group's operations and revenue were impacted due to COVID-19 for some period during the quarter ended June 30, 2021.

The Group has considered the possible effects that may result from the COVID-19 pandemic in the preparation of these unaudited financial results, including but not limited to the assessment of liquidity position and recoverability of carrying value of its assets comprising Property Plant and Equipment, Intangible assets, investments, inventories and trade receivables. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of this pandemic, the Group has, at the date of approval of these unaudited financial results, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. Given the uncertainties associated with the nature, condition and duration of COVID-19, the Group will closely monitor any material changes arising out of the future economic conditions and its impact on the business of the Group.

5 At the time of transition to Indian Accounting Standards (IND AS) with effect from 1 April 2015, the Parent Company had recognised fair value of its land parcels in its books of accounts and recognised deferred tax liability on such fair Valued Land as Parent company expected sale of such land parcels on a piecemeal basis, delinked from the business.

During the year ended March 31, 2021, the Parent Company has reassessed the expected manner of recovery of the carrying value of all land parcels and has now determined that a number of such land parcels would not be delinked from the business as they either form an integral part of the business operations or are proximate to the factory premises. Consequently, the Parent Company currently expects that in the event of disposal of most of the land parcels in future, these would only be disposed off along with the business and in a slump sale arrangement thereby resulting in no temporary difference between the accounting position and position as per tax laws upon such future disposal.

Accordingly, the Parent Company has reversed deferred tax liability amounting to ~ 65.62 crores pertaining to such land parcels in the Statement of Profit and loss durina the vear ended March 31. 2021.

6 Pursuant to the approval granted by the Union Cabinet on July 14, 2021 for continuation of Rebate of State and Central Taxes and Levies (RoSCTL) with the same rates (as notified on March 8, 2019) on exports of apparel and made ups, the Group had recognized the benefit of RoSCTL of~ 23.98 crores during the quarter ended June 30, 2021. Out of this, ~ 13.23 crores benefit pertains to the eligible export sales of the quarter ended March 31, 2021.

The textiles products that are not covered under the RoSCTL scheme are eligible for benefit under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme with effect from January 1, 2021. Considering that the rates of RoDTEP were notified during the current quarter (vide Notification dated August 17, 2021), the Group has recognized the benefit of RoDTEP of~ 29.28 crores during the quarter ended September 30, 2021. Out of this, ~ 6.71 crores benefit pertains to the eligible export sales of quarter ended March 31, 2021, and ~ 10.12 crores benefit pertains to the eligible export sales of quarter ended June 30. 2021.

Ar1inrl L 1mite(1. Naroda Rodd, Ahmedabad 381 ) O!'; lri<!:d Tel. +91 79 68268000 CIN: L 17I19GJ19J lPLC00009J

Arv1no

Particulars		Quarter Ended		Half Year Ended	Year Ended
	30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Net Worth (Share Capital +Other Equity)	2,780.12	2,703.35	2,630.17	2,780.12	2,630.17	2, 719.29
Debentre Redempution Reserve			50.00	-	50.00
(a) Debt Service Coverage Ratio	1.56	1.14	0.32	1.39	0.21	0.60
(b) Interest Service Coverage Ratio	4.78	2.33	1.88	3.56	0.74	2.13
(c) Debt I Equity Ratio (In times)	0.71	0.81	O.B9	0.71	0.89	0.74
(d) Current Ratio (In times)	1.15	1.09	1.07	1.15	1.07	1.12
(e) Long Term Debt to Working Capital (In times)	1.99	2.50	3.60	1.99	3.60	2.55
(f) Bad Debts to Account Receivable Ratio(%)	0.16%	0.00%	0.29%	0.17%	0.34%	0.46%
(g) Current Liability Ratio (In times)	0.68	0.69	0.62	0.68	0.62	0.66
(h) Total Debts to Total Assets (In times)	0.29	0.32	0.35	0.29	0.35	0.30
(i) Debtors Turnover (In times) (Annualised)	8.07	5.75	5.25	6.82	3.B5	4.74
(j) Inventory Turnover (In times) (Annualised)	6.66	4.49	4.44	5.62	3.26	4.16
(k) Operating Margin (%)	6.93%	2.60%	3.74%	5.18%	(2.73%)	3.50%
(I) Net Profit Margin (%)	3.36%	(0.79%)	(0.45%)	1.68%	(5.42%)	(0.54%)

(a) The listed Secured Non-Convertible Debentures of the Group aggregating to ~ 75 crore as on September 30, 2021 are secured by way of first pari pasu charge on certain identified property, plant and equipment of the Group whereby value of underlying assets exceeds hundred percent of the principal amount of the said debentures.

(bl Formula for computation of ratios are as under:
--------------------------------------------------------	--

(a) Debt Service Coverage Ratio	Earnings before Interest, Tax, Depreciation and amortisation I Interest Expenses+ Principal Repayments made during the year on long term loans
(b) Interest Service Coverage Ratio	Earnings before Interest, Tax, Depreciation & amortisation I Interest Expenses
(c) Debt I Equity Ratio	Total Debt I Total Equity
(d) Current Ratio	Current Assets/ Current Liabilities
(e) Long Term Debt to Working Capital	Non-Current Borrowings (Including Current Maturities of Non-Current Borrowings)/ Current Assets Less Current Liabilities (Excluding Current Maturities of Non-Current Borrowings)
(f) Bad Debts to Account Receivable Ratio(%)	Bad Debts/ Average Trade Receivables
(g) Current Liability Ratio	Total Current Liabilities I Total Liabilities
(h) Total Debts to Total Assets	Total Debts/ Total Assets
(i) Debtors Turnover	Revenue from Operations / Average Trade Receivables
(j) Inventory Turnover	Revenue from Operations/ Average Inventories
(k) Operating Margin (%}	(EBIT - Other Income) I Revenue from Operations
(I) Net Profit Margin (%)	Profit Alter Tax / Revenue from Operations

For Arvind Limited

s~~ ~··

Ahmedabad October 27, 2021

Sanjay S.Lalbhai Chairman & Manaqinq Director

.A.rJinrJ Limited. Narnd~ Roa•j Ahrnedabad 380 O! '; !" t!•d Tel. +91 79 68268000 CIN: L 17 I 19GJ1931PLC00009 3

Arv1no I II "

	SEGMENTWISE REVENUE, RESULTS, SEGMENT ASSETS AND LIABILITIES (CONSOLIDATED) FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2021
							[' in Crores]
	Sr. Particulars		Quarter Ended		Halt Year Ended		Year Ended
No		30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
		Unaudited	Unaudited	Unaudited	unaudited	unaudited	Audited
	1 Segment Revenue (Net Sales/Income from Operations)
	(a) Textiles	1,726.49	1,175.46	1,011.43	2,901.95	1,447.08	3,997.35
	(b) Advanced Material	298.28	193.17	185.85	491.45	292.32	679.47
	(c) Others	103.45	83.61	113.65	187.06	178.03	434.23
	Total	2,128.22	1,452.24	1,310.93	3,580.46	1,917.43	5,111.05
	Less : Inter Segment Sales	13.08	12.81	5.76	25.89	12.98	38.07
	Net Sales/Income from Operations	2,115.14	1,439.43	1,305.17	3,554.57	1,904.45	5,072.98
	2 Segment Results (Profit/(Loss) before Interest & Tax)
	(a) Textiles	180.70	70.35	52.89	251.05	(30.60)	230.82
	(b) Advanced Material (c) Others	29.98 (23.43)	20 ,21 (18.45)	22.73 (11.29)	50.19 (41.88)	32.50 (21 ,71 )	62.90 (34.63)
	Total	187.25	72.11	64.33	259.36	(19.81)	259.09
	Less:
	(a) Interest and Finance Charges (Net)	48.13	47.34	60.01	95.47	119.34	224.51
	(b) Other Unallocable expenditure (net of un-allocable income)	22.98	28.60	24.12	51.58	36.75	65.49
	Profit/( Loss) Before Tax	116.14	(3.83)	(19.80)	112.31	(175.90)	(30.91)
	3 Segment Assets
	(a) Textiles	4,562.39	4,613.91	4,360.64	4,562.39	4,360.64	4,513.45
	(b) Advanced Material	629.65	538.69	497.77	629.65	497.77	508.61
	(c) Others	592.20	572.00	574.50	592.20	574.50	613.93
	(d) Unallocable	1,076.73	1 ,075.77	1,179.51	1,076.73	l 179.51	1,084.73
	Total Segment Assets	6,860.97	6,800.37	6,612.42	6,860.97	6,612.42	6,720.72
	4 Segment Liabilities (a) Textiles		1,486.21		1,581.09	1,220.51	1,543.91
	(b) Advanced Material	1,581.09	132.08	1,220.51 105.93	129.13	105.93	121.26
	(c) Others	129.13 285.30	223.21	220.58	285.30	220.58	25 1.94
	(d) Unallocable	65.12	25.35	44.69	65.12	44.69	34.84
	Total Segment Liabilities	2,060.64	1,866.85	1,591.71	2,060.64	1,591.71	1,951.95

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 :

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

.s ........... ~ ~··

Chairman & Managing Director

Sanjay S.Lalbhai

Ahmedabad October 27, 2021

Ar:inrl Limitec!. Naroda Rodd Ahrnedabad 360 0;1 , 1, ;d:a Tel.. +91 79 682680\JO CIN L 17 I 19GJ19] l PLC.00009 J

Arvrno

			$[\overline{\epsilon} in Cross]$
	Particulars	As At 30.09.2021	As At 31.03.2021
		Unaudited	Audited
	ASSETS
$\mathbf{1}$	Non-current Assets
	(a) Property, Plant and Equipment	3,354.15	3,405.38
	(b) Capital work-in-progress	70.69	77.95
	(c) Investment Property	20.53	22.79
	(d) Goodwill	14.62	14.59
	(e) Other Intangible Assets (f) Intangible Assets Under Development	46.83 0.38	59.18 0.40
	(g) Right of Use Assets	76.87	88.56
	(h) Financial Assets
	(i) Investments	68.15	70.28
	(ii) Loans	0.65	0.68
	(iii) Other Financial Assets	41.42	35.99
	(i) Deferred Tax Assets (Net) (j) Other Non-current assets	9.03 12.40	7.80 32.52
	Sub-Total - Non-current Assets	3,715.72	3,816.12
$\overline{2}$	Current Assets (a) Inventories	1,361.76	1,159.85
	(b) Financial Assets
	(i) Trade Receivables	987.80	1,091.67
	(ii) Cash & cash equivalents	76.48	27.12
	(iii) Bank balances other than (ii) above	18.20	24.44
	(iv) Loans (v) Other Financial Assets	48.85 106.85	50.16 118.48
	(c) Current Tax Assets (Net)	19.45	22.70
	(d) Other current assets	428.43	319.45
	(e) Assets Held for Sale	97.43	90.73
	Sub-Total - Current Assets	3,145.25	2,904.60
	TOTAL - ASSETS	6,860.97	6,720.72
	EQUITY AND LIABILITIES
1	Equity
	(a) Equity Share Capital	259.04	258.92
	(b) Other Equity	2,521.08	2,460.37
	Sub-Total - Equity	2,780.12	2,719.29
$\overline{\mathbf{z}}$	Non-controlling interest	44.25	47.33
	Liabilities
3	Non - Current Liabilities
	(a) Financial Liabilities
	(i) Borrowings	1,062.51	1,141.90
	(ii) Lease Liabilities	85.71 2.55	95.20 8.55
	(iii) Other Financial Liabilities (b) Provisions	29.79	29.98
	(c) Deferred Tax Liabilities (Net)	42.59	9.64
	(d) Government Grants	69.71	71.69
	(e) Other Non Current Liabilities	0.89	0.89
	Sub-Total - Non-current Liabilities	1,293.75	1,357.85
4	Current Liabilities
	(a) Financial Liabilities (i) Borrowings	913.45	860.25
	(ii) Lease Liabilities	19.57	23.98
	(iii) Trade Payables
	- total outstanding dues of micro enterprises and small enterprises	42.25	38.79
	- total outstanding dues of creditors other than micro enterprises and	1,406.34	1,361.47
	small enterprises (iv) Other Financial Liabilities	150.80	151.78
	(b) Other Current Liabilities	177.27	140.45
	(c) Provisions	11.18	11.53
	(d) Government Grants	8.65	7.96
	(e) Current Tax Liabilities (net)	0.34	0.04
	(f) Liabilities directly associated with assets classified as held for sale Sub-Total - Current Liabilities	13.00 2,742.85	2,596.25
	TOTAL - EQUITY AND LIABILITIES	6,860.97	6,720.72
		For Arvind Limited
		Same are summer
	Ahmedabad tion Pur October 27, 2021	Sanjay S.Lalbhai Chairman & Managing Director
Arvind Limited.
	Ahmedabad, 380.025 India

...... ,.,

Ahrnedabod 380 (i ! , ic;<J,o Tel. +91 79 68268000 CIN L 17 I 19G)l 931 PLCOG00'13

ArVIno

CONSOLIDATED UNAUDITED CASH FLOW STATEMENT FOR THE HALF VEAR ENDED SEPTEMBER 30 2021
	Vear ended			f~ In CroresJ Half Vear ended
Particulars	September 30, 2021			September 30, 2020
		Unaudited		Unaudited
A Cash Flow from Operating activities
Profit/Closs) After taxation Adjustments to reconcile profit after tax to net cash flows:		59.64		(103.17)
Share of (profit)/ loss from Joint Ventures	0. 14		(0.10)
Depreciation and Amortization expense	132.52		144.58
Interest Income	(2.95)		(2.50)
Tax Expense/(Credit) Finance Costs	52 .67 95.47		(72.73) 119.34
Bad Debts Written Off	1.74		3.34
Allowances for doubtful receivables	0.70		1.45
Allowances for doubtful advances Sundry Advances written off	0.99		-
Sundry Balances Written Off	0.60		0.02 -
Provision for Non movinq inventory	44.51		44.40
Foreiqn Exchanqe Loss I (Gain)	(3.35)		6.43
(Profit)/Loss on Sale of Property, plant and equipment Excess Provision Written Back	(3.25)		(0.85) (0.40)
Share based payment expense	0.97		0.16
Government qrant income	(4.29)		(3.76)
(Profit)/Loss of Mark to market of derivative financial instruments	4.51		- 19.48
Provision of diminution in value of investments and share application money		320.98		258.86
Operating Profit before Working Capital Changes		380.62		155.69
Adjustments for Changes in Working Capital:
(Increase) I Decrease in Inventories (Increase) I Decrease in trade receivables	(219.64) 103.86		186.03 111.98
(Increase) I Decrease in other financial assets	(0.39)		(7.91)
(Increase) I Decrease in other assets	(104.49)		59.19
Increase I (Decrease) in trade payables Increase I (Decrease) in other financial liabilities	48.25 3.53		(243.02) 10.02
Increase I (Decrease) in other liabilities	49.82		(8.18)
Increase I (Decrease) in provisions	6.10		0.90
Net Changes in Working Capital Cash Generated from Operations		( 112.961 267.66		109.01
Direct Taxes n"ld I Net of T"X r fundl		(2 0.971		264.70 16.591
<al Net Cash Flow from Ooeratlna Activities</al		246.69		258.11
B Cash Flow from Investing Activities
Purchase of Property, plant and equipment and intangible assets	(88.18)		(41. 73)
Proceeds from disposal of Property, plant and equipment and intangible assets Dividend received from joint venture	19.67 1.99		12.49
Purchase of Investments			(10.14)
Sale of stake in subsidiaries	0.09
Changes in other bank balances not considered as cash and cash equivalents Loans received back (net)	6.24 1.34		5.83 1.31
Interest llecelved	2.94		1.24
( B) Net cash flow from/(used In) Investing Activities		(55.91)		(31.00J
C Cash Flow from Financing Activities Proceeds from Issue of Share Capital
Dividend Paid	0.12 (1.99)		0.15
Proceeds from lonq term Borrowinqs	100.00		488.37
Repayment of long term Borrowings	(144.12)		(302.18)
Proceeds/(Repayment) from Short term borrowinqs (net) Repayment towards lease liabilities	17.93 (11.60)		(300.54) (14.29)
Interest Paid	(100.13)		(123.66)
r c 1 Net Cash flow from I rused lnl Flnancina Activities		(139.791		(2!>2.151
Net Increase/(Decrease) in cash & cash equivalents (A)+( B )+( C)		50.99		(25.04)
Cash & Cash equivalents at the beginning of the year		25.48		47.06
Cash & Cash equivalents at the end of the year		76.47		22.02
Reconciliation of cash and cash eauivalents
Particulars			Vear ended	Vear ended
			September 30, 2021	September 30, 2020
Cash and cash equivalents :
Cash on Hand			0.77	0.28
Balances with Banks			75.71	22.63
Cash and cash equivalents as per Balance Sheet Book Overdrafts			76.48 ro.Oll	22.91 (Q.89)
Cash and cash eaulvalents as oer Cash flaw Statement			76.47	22.02
			For Arvind Limited

Ahmedabad October 27, 2021 1-N rirl Llm11ec! Ndrnda Rudd. Ahrnedabad 360 Of 1 f: 1r~,r::1

Tel. +91 79 682680DO CIN L 17 l 19GJ1931 PLCOOu09J

Sanjay S.Lalbhai Chairman & Manaqinq Director

Deloitte Haskins & Sells LLP

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

Tel: +91 79 6682 7300 Fax: +91 79 6682 7 400

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 and half year ended September 30, 2021 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 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 and Regulation 52 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.

For DELOITTE HASKINS & SELLS LLP Chartered Accountants (Firm's Registration No. 117366W/W-100018)

Kartikeya Raval (Partner) (Membership No. 106189) UDIN:d..11o6 l 8"i AP.fl AND 5 :t-06

Page 1of1

Place: Ahmedabad Date: October 27, 2021

ArVIno

	STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF VEAR ENDED SEPTEMBER 30 2021					[~ in Crores except per share data]
	Sr. Particulars		Quarter Ended		Half Year Ended		Year Ended
No.		30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
1	Income
	(a) Revenue from Operations	1,988.61	1,339.92	1,169.75	3,328.53	1,662.78	4,528.54
	(b) Other tnc:oine	25.76	12.24	13.60	38.00	22.55	64.62
	Total Income	2,014.37	1,352.16	1,183.35	3,366.53	1,685.34	4,593.16
2	Expenses
	Cal cost or materials consumed	1,049.49	816.18	418.72	1,865.67	626.93	1,952.93
	(b) Purchase of stock-in-trade	28.94	6.74	50.02	35.68	72.68	107.44
	(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade	(28.63)	(179.88)	121.26	(208.51)	118.01	131.16
	(d) Project Expenses	36.91	5.65	2.56	42.56	11.62	23.97
	(e) Employee benefits expense	180.67	161.11	146.49	341. 78	267.64	586.88
	(f) Finance Costs	45.89	44.57	55.71	90.46	110.41	209.65
	(g) Depreciation and amortisation expense	53.07	53.60	59.60	106.67	120.36	236.43
	(h) Other Expenses	503.55	415.09	304.51	918.64	468.01	1 261.73
	Total Expenses	1,869.89	1,323.06	1,158.87	3,192.95	1,795.66	4,510.19
3	Profit/(Loss) before Exceptional Items and Tax (1-2)	144.48	29.10	24.48	173.58	(110.32)	82.97
4	Exceptional Item (Refer Note 2)	(31.47)	(26.20)	(2.60)	(57.67)	(3.01)	(26.93)
5	Profit/ (Loss) before tax (3+4)	113.01	2.90	21.88	115.91	(113.33)	56.04
6	Tax Expense :
	- Current Tax	18.58	0.46	-	19.04	-	3.40
	- Short/(Excess) provision of earlier years	-	-	-	-	-	(4.83)
	- Deferred Tax charge/(credit)	19.71	0 .55	148.82l	20.26	1107.171	135.20)
	Total Tax Expense/(Credit)	38.29	1.01	(48.82)	39.30	(107.17)	(36.63)
7	Profit/(Loss) for the period (5-6)	74.72	1.89	70.70	76.61	(6.16)	92.67
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 (ii) Income tax related to items no (i) above	5.16 (1.80)	5.16 (1.80)	0.02 (0 .01)	10.32 (3.60)	0.04 (0.02)	22 ,27
	(b) Items that will be reclassified to profit and loss						(7.78)
	(i) Effective portion of gain/(loss) on cash Flow hedges	11.51	(11.61)	25.89	(0.10)	47.70	53.62
	(ii) Income tax related to items no (i) above	(4.02)	4.06	(9.05)	0.04	(16.671	(18.74)
	Other Comprehensive Income/(Loss) (net of tax)	10.85	(4.19)	16.85	6.66	31.05	49.37
9	Total Comprehensive Income/(Loss) for the period (7+8)	85.57	(2.30)	87.55	83.27	24.89	142.04
	10 Paid-up Equity Share Capital (Face Value ~ 10/- per share)	259.04	258.92	258.92	259.04	258.92	258.92
	11 Other Equity						2,682.08
	12 Earnings per Share in ~ - (Not Annualised)
	- Basic	2.89	0.07	2.73	2.96	(0.24)	3.58
	- Diluted	2.87	0.07	2.73	2.94	(0.24)	3.57
	CS"e 11ccomoanvlnn notes to the Standalone Flnanclal Results\

Notes:

1 The above standalone unaudited Financial results were reviewed by the Audit Committee and have been considered and approved by the Board of Directors at their meeting held on October 27, 2021. The same have been subjected to Limited Review by the Statutory Auditors.

2 Exceptional items represents following :

Particulars		""~""•Ended		Hair Year <'h""d	v ~. """'"'
	30.09.2021	30.06.2021	30.09.2020	30.09.2021	3 0.09.2020	31.03.20 21
	Unaudited	u naudited	Unaudl•""	unaudited	Unaudited	Audited
(a) Retrenchment Compensation			2.23		2.<'3	2.23
(b) Provision I (Reversal) of diminution in value of investments, loans and share
application money	31.47	22.58	0.37	54.05	0.78	(15.40)
(c) Interest on Stamp Duty on Demerger in Financial year 2016-17	-	3.62		3.62
(d) Loss on Sale of Investments	-		-			40.10
Total	31.47	26.20	2.60	57.67	3.01	26.93

3 Other Income includes share of Loss From LLPs amounting to ~ 0.02 crores and ~ 0.56 crores For the quarter ended September 30, 2021 and June 30, 2021 respectively and Loss or ^~0.58 crores for the half year ended on September 30, 2021 (previous year - Loss of~ 0.11 crore For the quarter ended September 30, 2020, Loss of ~ 0.11 crore For the half year ended September 30, 2020 and Loss of ~ 0.32 crores For the year ended March 31, 2021 respectively).

Arvind I. imiterl. Narorla Rodd Ahmedabad J8ij Cl!'; lr:ci:o Tel : +91 79 68268000 CIN L 17I19GJ19.31 PLCOUOO'IJ

Arv1no

Particulars		'l1U::11-nr 1Eftrls:it		-m1f vomr i:ftl"IDft		YA3r "n.tA.t
	30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Net Worth (Share capltlll + OlMr Equity)	3,025.36	2,939.19	2,878.89	3,025.36	2,878.89	2,941.00
Debenture Redemption Reserve	-	-	50.00		50.00
(a) Debt Service Coverage Ratio	1.50	1.12	0.40	1.35	0.29	0.67
(b) Interest Service Coverage Ratio	4.62	2.27	2.46	3.46	1.06	2.40
(c) Debt I Equity Ratio (In times)	0.63	0.72	0.78	0.63	0.78	0.65
(d) Current Ratio (In times)	1.12	1.08	1.06	1.12	1.06	1.10
(e) Long Term Debt to Working Capital (In times)	2.33	2.72	4.27	2.33	4.27	2.95
(f) Bad Debts to Account Receivable Ratio (%)	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%
(~)Current Liability Ratio (In times)	0.68	0.69	0.62	0.68	0.62	0.66
(h) Total Debts to Total Assets (In times)	0.28	0.31	0.35	0.28	0.35	0,29
(i) Debtors Turnover (In times)(Annualised)	8.76	6.09	5.69	7.37	4.07	4.94
(j) Inventory Turnover (In times)(Annualised)	7. 18	4,77	4,88	6.05	3.48	4.45
(k) Operating Margin(%)	8.28%	4.59%	5.69%	6.79%	(1.35%)	5.03%
m Net Profit Maniln (%)	3.76%	0.14%	6.04%	2.30%	(0.37%)	2.05%
(a) The listed Secured Non-Convertible Debentures of the Company aggregating to~ 75 crore as on September 30, 2021 are secured by way of first pari pasu charge on certain identified property, plant and equipment of the Company whereby value of underlying assets exceeds hundred percent of the principal amount of the said debentures. (b) Formula for computation of ratios are as under:
(a) Debt Service Coverage Ratio	Earnings before Interest, Tax, Depreciation & amortisation/ Interest Expenses + Principal Repayments made during the year of long term loans
I (bl Interest Service Coveraqe Ratio	Earnings before Interest,Tax,Depreciation & amortisation/ Interest Expenses
(c) Debt/ Equity Ratio	Total Debt / T otal Equity
(d) Current Ratio	Current Assets I Current Liabilities
(e) Long Term Debt to Working Capital	Non-Current Borrowings (Including Current Maturities of Non-Current Borrowings) / Current Assets Less Current Liabilities (Excluding Current Maturities of Non-Current Borrowings)

· f) Bad Debts to Account Receivable Ratio (%)	Bad Debts/ Average Trade Receivables
lio) Current Liability Ratio	Total Current Liabilities I Total Liabilities
I (h) Total Debts to Total Assets	Total Debts I Total Assets
Iii) Debtors Turnover	Revenue from Operations I Average Trade Receivables
Im nvPn•~~· y ~• Pr	Revenue from Ooerations I Averaae lnventones
kl Ooeratino Marc;n (%l	(EBIT - Other Income) / Revenue from Operations
(I) Net Profit Margin (%)	Profit A~er Tax/ Revenue from Operations

5 The outbreak of COVID-19 pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The company's operations and revenue were impacted due to COVID-19 for some period during the quarter ended June 30, 2021.

The company has considered the possible effects that may result from the COVID-19 pandemic in the preparation of these unaudited financial results, including but not limited to the assessment of liquidity position and recoverability of carrying value of its assets comprising Property Plant and Equipment, Intangible assets, investments, inventories and trade receivables. In developing the assumptions relating to the possible future uncertainties in the global economlc conditions because of this pandemic, the coinpany has, at the date of approval of these unaudited financial results, used internal and external sources of information and expects that the carrying amount of these assets will be recovered. Given the uncertainties associated with the nature, condition and duration of COVID-19, the company will closely monitor any material changes arising out of the future economic conditions and its impact on the business of the company.

6 Pursuant to the approval granted by the Union Cabinet on July 14, 2021 for continuation of Rebate of State and Central Taxes and Levies (RoSCTL) with the same rates (as notified on March 8, 2019) on exports of apparel and made ups, the Company had recognized the benefit of RoSCTL of~ 21.56 crores during the quarter ended June 30, 2021. Out of this, ~ 11.40 crores benefit pertains to the eligible export sales of the quarter ended March 31, 2021.

The textiles products that are not covered under the RoSCTL scheme are eligible for benefit under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme with effect from January 01, 2021. Considering that the rates of RoDTEP were notified during the current quarter (vide Notification dated August 17, 2021), the Company has recognized the benefit of RoDTEP of~ 29.18 crores during the quarter ended September 30, 2021. Out of this, ~ 6.69 crores benefit pertains to the eligible export sales of quarter ended March 31, 2021, and~ 10.10 crores benefit pertains to the eligible export sales of quarter ended June 30, 2021.

7 At the time of transition to Indian Accounting Standards (IND AS) with effect from April 1, 2015, the Company had recognised fair value of its land parcels In its books of accounts and recognised deferred tax liability on such fair Valued Land as company expected sale of such land parcels on a piecemeal baSIS, delinked from the business .

During the year ended March 31, 2021, the Company has reassessed the expected manner of recovery of the carrying value of all land parcels and has now determined that a number of such land parcels would not be delinked from the business as they either form an integral part of the business operations or are proximate to the factory premises. Consequently, the Company currently expects that in the event of disposal of most of the land parcels in future, these would only be disposed off along with the business and in a slump sale arrangement thereby resulting in no temporary difference between the accounting position and oosition as oer tax laws uoon such future disoosal.

Accordingly, the Company has reversed deferred tax liability amounting to ~ 65.62 crores pertaining to such land parcels in the Statement of Profit and loss during the year ended March 31, 2021.

For Arvind Limited

s~~ ~·-

Ahmedabad Sanjay S. Lalbhai October 27, 2021 Chairman & Managing Director

ArlinrJ L irnitecL Narona Roarj Ahrnedabad ;e:J 0" _J !c.:_:," Tel.. +9179682680Ci0 CIN L 17Il9GJ1931 PLCOOGG'I J

ArVIno

• •H-.

							[• In Crores]
	Sr. Particulars		Quarter Ended			Half Year Ended	Year Ended
No		30.09.2021	30.06.2021	30.09.2020	30.09.2021	30.09.2020	31.03.2021
		unaudited	unaudited	unaudited	Unaudited	Unaudited	Audited
l	Segment Revenue (Net Sales/Income from Operations)
	(a) Textiles	1,696.29	1,149.06	984.50	2,845.35	1,383.00	3,854.85
	(b) Advanced Material	264.14	172.00	164.02	436.14	249.00	582.53
	(c) Others	28.30	19.18	22 .14	47.48	31.71	92.43
	Total	1,988.73	1,340.24	1,170.66	3,328.97	1,663.71	4,529.81
	Less : Inter Segment Sales	0.12	0.32	0.91	0.44	0.93	1.27
	Net Sales/Income from Operations	1,988.61	1,339.92	1,169.75	3,328.53	1,662.78	4,528.54
	2 Segment Results (Profit/(Loss) before interest&. Tax)
	(a) Textiles	189.83	87.97	90.59	277.80	22.71	318.40
	(b) Advanced Material	26.64	18.36	19.66	45.00	25.40	61.25
	(c) Others	(12.51)	(11.96)	(12.38)	(24.47)	(23.69)	(46.02)
	Total	203.96	94.37	97.87	298.33	24.42	333.63
	Less:
	(a) Interest and Finance Charges (Net)	45.89	44.57	55.71	90.46	110.41	209.65
	(b) Other Unallocable expenditure (net of un-allocable income)	45.06	46.90	20.28	91.96	27 .34	67.94
	Profit/ (Loss) Before Tax	113.01	2.90	21.88	115.91	(113.33)	56.04
	3 Segment Assets
	(a) Textiles	4,243.31	4,337.73	3,936.00	4,243.31	3,936.00	4,200.92
	(b) Advanced Material	511.11	419.50	359.72	511 .11	359.72	379.11
	(c) Others	200.49	181.77	155.68	200.49	155.68	185.92
	(d) Unallocable	1,846,71	1,822.13	2,018 .13	1,846,71	2,018.13	1,842.78
	Total Segment Assets	6,801.62	6,761.13	6,469.53	6,801.62	6,469.53	6,608.73
	4 Segment Liabilities
	(a) Textiles	1,479.82	1,453.63	1,124.81	1,479.82	1,124.81	1,495.41
	(b) Advanced Material	123.43	119.25	89.02	123.43	89.02	96.16
	(c) Others	165.27	119.19	76.18	165.27	76.18	127.84
	(d) Unallocable	97.57	18.86	52 .• 89	97. 57	52 .89	34.54
	Total Segment Liabilities	1866.09	l 710.93	1342.90	1866.09	1, 342.90	l 753,95

SEGMENTWISE REVENUE, RESULTS, SEGMENT ASSETS AND LIABILITIES (STANDALONE) FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2021

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".

Classiflcatlon of Reportable Segments :

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

.s~.,,..... ~·· Sanjay s. Lalbhai Chairman & Managing Director

I_ J\rv1no

Tel.. +91 79 682680CJ0 Cl~< L 17 11 C,GJ1931PLCOGOG'J3 .. > I

	STANDALONE UNAUDITED BALANCE SHEET
			[" in Crores]
	Particulars	As At 30.09.2021	As At 31.03.2021
		Unaudited	Audited
	ASSETS
1	Non-current Assets
	(a) Property, Plant and Equipment	3,104.71	3,133.64
	(b) Capital work-In-progress	68.31	74.15
	( c) Investment Property	28.13	30.53
	( d) Other Intangible Assets	33.67	44.18
	(e) Intangible Assets under development (f) Right of Use Assets	0.31 40.38	0.33 49.41
	(q) Financial Assets
	(i) Investments	604.81	531.97
	(ii) Loans	0.65	0.68
	(iii) Other Financial Assets	24.25	74.41
	(h l Other Non-current Assets	13.47 3 918.69	31.00 3 970.30
	Total - Non-current Assetsr--~~~~+--~~=-==-i
2	Current Assets
	(a) Inventories	1,197.64	998.70
	(bl Financial Assets
	(i) Trade Receivables (ii) Cash & cash equivalents	868.12 60.85	933.68 9.80
	(iii) Bank balances other than(ii) above	9.57	9.45
	(iv) Loans	255.08	257.68
	(v) Other Financial Assets	67.98	91.99
	( c) Current Tax Assets (Net) ( d) Other Current Assets	7.92 318.34	12.28 234.12
	(e) Assets Held for Sale	97.43	90.73
	Total - Current Assets1---=.;==-='""'--1----=c=:.:::::i	2 882.93	2.638.43
	TOTAL - ASSETS,___~~~=-+-~~~~--.	6 801.62	6 608.73
	EQUITY AND LIABILITIES
1	Equity
	(a) Equity Share Capital	259.04	258.92
	(b) Other Equity	2,766.32 3.025.36	2,682.08 2 941.00
			Total - Equitv1---:=£===:-1----=:::.=::i
	Liabilities
2	Non - Current Liabilities (a) Financial Liabilities
	(i) Borrowings	1,030.33	1, 100.37
	(ii) Lease Liabilities	45.92	54.03
	(iii) Other Financial Liabilities	3.58	9.37
	(bl Lonq-term provisions	23.86	24.24
	(c) Deferred Tax Liabilities (Net) (d) Government Grants	25.46 66.78	5.24 67.72
	Total - Non-current Liabilities,___~1~··=1~9~5~.9~3---~1~2~6~0~.9~7,
	Current Liabilities
3	(a) Financial Liabilities
	(i) Borrowings	879.84	813.41
	(ii) Lease Liabilities	14.06	17.62
	(iii) Trade Payables
	- total outstandinq dues of micro enterprises and small enterprises	36.37	38.22
	- total outstanding dues of creditors other than micro enterprises and small enterprises	1,333.32	1,284.18
	(iv) Other Financial Liabilities	132.27	124.49
	(bl Other Current Liabilities	155.71	112.49
	(c) Short-term provisions	8.21	8.99
	(d) Government Grants	7.55	7.36
	(e) Liabilities directly associated with assets classified as held for sale Total - Current Liabilities	13.00	-
		2 580.33	2.406.76
	TOTAL - EOUITY AND LIABILITIES	6 801.62	6.608.73
		For Arvind Limited
		'!::~~~	··
	Ahmedabad	Sanjay S. Lalbhai
	October 27, 2021	Chairman & Managing Director
	Ar11nd L imitec!.
	r1;1rnaa KOi'ln Ahn1edabdd 38·J (J ~l J :, ',;,r:1

J\rv1no

</l~<>

Particulars		Half Year Ended		Half Year Ended
		September 30, 2021		September 30, 2020
		Unaudited		Unaudited
A Cash Flow from Operatln11 activities
Profit after taxation Adjustments to reconclle profit after tax to net cash flows:		76.61		(6.16)
Depreciation and Amortization expense	106.67		120.36
Interest Income	(10.70)		(10.70)
Ta>C Expense/(Credlt)	39.30		(107.17)
Finance Costs	90.46		110.41
Dividend Income	(4.00)
Allowances for doubtful debts Sundry Balances Written Off	0.35 0.60		0.55 0.02
Share of Profit from LLP	0.58		0.11
Provision for Non moving inventory	36.80		32.61
Foreign Exchange Loss I (Gain)	(2.35)		6.43
(Galn)/Loss of mark to market of derivative financial instruments	4.40
(Profit)/Loss on Sale of Property, plant and equipment	(3.30) -		(1.24)
Excess Provision written back Share based payment expense	0.97		(0.40) 0.15
Government grant income	(3.74)		(3.45)
Provision for Diminution in Value of Investments	53.47		0.25
Allowances for doubtful loan	0.58		0.53
Financial guarantee commission income	(0.55)		(0.62)
Operating Profit before Working Capital Changes		309.54 386.15		147.84 141.68
Adjustments for changes In working capital : (Increase) I Decrease in Inventories
(Increase) I Decrease in trade receivables	(208.96) 67.64		149.09 157.59
(Increase)/ Decrease in other financial assets	9.31		6.14
(Increase) I Decrease in other assets	(79.69)		41.47
Increase/ (Decrease) in trade payables	47.21		(232.96)
Increase I (Decrease) in other financial liabilities Increase I (Decrease) in other liabilities	11.84 56.22		0.91 5.19
Increase I (Decrease) in provisions	4.64		(0.47)
Net Changes in Working Capital		(91.79)		126.96
Cash Generated from Operations		294.36		268.64
Dir0 rt- TaxP< ln•idl/refund (NPt\ Net Cash Flow from Operatlno Activities (A)		118.2R\ 276.08		J.62 272.26
B Cash Flow from Investing Activities Purchase of Property, plant and equipment and intangible assets	(86.63)		(27.79)
Proceeds from disposal of Property, plant and equipment	19.59		10.81
Purchase of Investments	(79.18)		(48.66)
Sale/ Withdrawal of Investments	3.02
Changes in other bank balances not considered as cash and cash	(0.12)		(0.17)
equivalents Loans (given)/received back (net)	2.05		(34.79)
Dividend Received	4.00		-
IntPre <t 0="" ived<="" r="" r0="" td="">	1q_qi;		16 0~		1q_qi;		16 0~
Net Cash Flow from/Cused In\ Investlna Activities CB\		C117.31l		C84.551
c Cash Flow from Financing Activities
Proceeds from Issue of Share Capital	0.12		0.15
Proceeds from long term Borrowings Repayment of long term Borrowings	100.00 (136.32)		486.32 (291.85)
Proceeds/(Repayment) from short term borrowings (net)	32.71		(259.41)
Repayment towards Lease Liabilities	(8.10)		(10.54)
lnterP <t paid<="" td="">	(94.R~\		(116.0~\		(94.R~\		(116.0~\
Net Cash Flow used In Flnancina Activities CC\		(106.42\		119L38l
Net Increase/(Decrease) in cash and cash equivalents		52.35		(3.67)
(A)+(B)+(C) Cash and Cash equivalents at the beginning of the period		8.50		19.21
Cash and Cash equivalents at the end of the period		60.85		15.54
Reconciliation of cash and cash equivalents Particulars			Half Year	Half Year
			Ended	Ended
			September	September
Cash and cash equivalents :			30, 2021	30,2020
Cash on Hand			0.51	0.01
Balances with Banks			fi0.l4	lh.00
Cash and cash equivalents as per Balance Sheet			60.85	16.01
Less: Book Overdrafts Cash and cash equivalents as per Cash flow Statement			-	fQ.471
			60.85	15.54
			For Arvind Limited
			s~~ ~·-
- Ahmedabad ~,r \1on f' <l~< td="">			Sanjay S. Lalbhai				Sanjay S. Lalbhai

Naroda Road e~r J Ahn1edabdd 3iJ.J !)/:, !¹ 1(!l ^d Tel. +91 79 68268000 ..,., ,..~s> ~ ·<!· ~- • r.:

CIN L 17 I l 9GJ 19] l PLC.00009 .'l ·· ·'o ~-· 0 vt: - (1y; AC~ ~· ·',;~> '/1 ---..;:.' ~· " 1 (<>1ion \'~~

PRESS RELEASE

Arvind Limited posted strong results for Q2 FY22

Ahmedabad, 27th October 2021: Arvind Limited has declared its financial results for the second quarter of FY 2022.

• Q2 revenues up 62% at ₹ 2115 crores; both Textiles & AMD revenues up 60%+
• Q2 EBITDA at ₹230 crores, EBITDA margin was 11% compared to 10.3% last year
• Textiles ROCE touching 20%
• Debt reduction progress as planned

Performance Highlights

Volumes grew across all segments as post Covid demand stayed strong in both export and domestic markets. Input costs continued to increase sharply, but were mostly offset by improved price realization and higher efficiencies.

Advanced Materials, delivered a robust quarter, and revenues stood at INR 297 crores. EBITDA for AMD for the quarter was 12%.

About Arvind Limited

Arvind Limited is one of the largest textile companies 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 Investor Review Note

27th October 2021| 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.

Q2 FY22 Executive Summary: strong performance

VINI
FASHIONING POSSIBILITIES

	₹ Crs	Q2 FY22 (vs Q2 FY21)
Revenues		2115 (+62%)
Textiles		1711 (+68%)
Advanced Materials		297 (+60%)
EBITDA margin		11.0% vs 10.3%
Textiles		11.3% vs 11.6%
Advanced Materials		11.8% vs 15.1%
Net Debt (30th 2021)	Sept	1881 vs 2141 (June'21) and 1950 (Mar'21)

• • Surge in volumes due to rebound in domestic market & continued strong export demand
• • Price-increases secured to off-set input cost increases helped maintain unit EBIDTA margins
• • Debt reduction by about 260 cr & 69 cr compared to June & March 21.
• • Government announced RODTEP rates

• ➢ Continuing increase in all input costs impacting percentage margins

• ➢ Higher RM inventory positions add to working capital requirements
• ➢ Logistics and shipping challenges continue to hamper movement to Bangladesh and other locations

Q2 FY22 Consolidated P&L | Highest quarterly PBT and PAT since demerger in Q3 FY2019

			YoY
All figures in INR Crs	Q2 FY22	Q2 FY21	Change
from Operations Revenue	2 115 ,	305 1 ,	62%
EBIDTA	212	122	74%
% EBIDTA	0% 10	3% 9
Other Income	18	13
Interest	48	60
Cash Accruals	182	75	142%
Depreciation	66	73
PBT	116	2
PAT	70	23	204%
Exceptional Less Items :	0	22
Profit Net	70	1

ROCE in Textile business nearing 20%; overall ROCE crossed 12%

In Inr Cr	Q2 FY22			Q2 FY21
Business	Revenue	EBIDTA	EBIDTA %	ROCE %	Revenue	EBIDTA	EBIDTA %	ROCE %
Textiles	1711	193	11.3%	19.5%	1017	118	11.6%	7.9%
Advanced Material	297	35	11.8%	22.9%	186	28	15.1%	21.4%
Others	90	-16			103	-11
Total	2098	213	10.1%	12.3%	1305	135	10.3%	4.9%
RoDTEP for previous
period	18	18
Reported Number	2115	230	10.9%	13.8%	1305	135	10.3%	4.9%

Sharp increase in ROCE as EBIDTA increased due to

• Fabric volumes recovered sharply and surpassed pre-covid levels; Garment volumes also continued to improve steadily as planned
• Pricing improved across all segments and helped offset the significant increase in input costs
• Advanced Materials businesses delivered a 60% growth in revenue
• Retrospective RoDTEP resulted in one-time addition to EBITDA of Rs. 18 crores

Consolidated Balance Sheet as on Sept 30th 2021

Cr Rs	30th Sept 21	31st 21 Mar
Shareholders' Fund	2824	2767
Share Capital	259	259
Surplus Reserves &	2543	2460
Minority Interest	23	47
Borrowings	1976	2002
long Term Borrowings	1063	1142
Short Borrowings Term	649	631
Liability Maturing in Long Term one year	265	230
Liabilities (Current Current) Lease Non +	105	119
Other Liabilities	1955	1833
Total	6861	6721
Assets	3716	3816
Fixed Assets	3507	3580
ROU Assets	77	89
Current Non Investments	68	70
Advances Long Loans & term	1	1
Other Non Current Assets	63	76
Cash and cash equivalents	95	52
Other Current Assets	3051	2853
Total	6861	6721

• Net Borrowings reduced by ~₹ 260 cr compared to June 2021 and ~ ₹ 69 cr compared to March 2021
• NWC managed tightly despite challenges in shipping out FG and longer cover required for key RM

Textile revenues higher by ~68% of Q2 in FY22 resulting from surge in volumes, and higher price realizations

Textile revenues (₹ Crs)

VOLUMES

• Denim volumes returned to 25 million meters after several quarters ; Exports contributed to 59%
• Wovens clocked a healthy 31 million meters as all segments continued to grow
• Garment volumes improved to ~9M pcs (+6% YoY)

PRICE REALIZATION

• Denim average realization improved to ₹214/meter (₹202/m in Q1 and ₹190/m in Q2 last year)
• Woven average realization improved to ₹176/meter (₹159/m in Q1)
• As a background, Woven price realization had dipped to ₹143/m in Q2 FY21, from ₹172/m of Q2 FY20 given product mix changes

COTTON COSTS

• Avg Cotton Cost for Q2 increased to Rs 136 / Kg (Rs 127 / Kg in Q1 FY22 and Rs 97 / Kg in Q2 FY21)

Volumes recovered across all segments in Q2

• Demand stayed robust across all segments; global customers have stated preponing deliveries given potential delays in shipping
• Supply side challenges continued – severe congestion along Bangladesh border, availability of key raw materials (esp the ones imported from China)

* Exports volumes includes sales made to export customers and shipments made to their garment factories in India

EBIDTA per unit maintained at pre-wave 2 (H2 FY2021) levels despite record increases in input costs

Indexed to H2 FY2021

• Input cost pressures continued to push the product costing thru September 2021
• Cotton prices were a record high
• Imports from China continued to be impacted by high freight costs
• Energy prices also started to inchup towards the end of Q2
• Margins preserved given a combination of price increases, product mix changes and efficiency improvements

Advanced Materials

AMD delivered a healthy growth in Q2 FY22 as planned; margins remained under pressure

Forward looking commentary regarding Q3 FY22

Both export and domestic demand expected to stay strong

• Export customers have already preponed ordering for Summer 22 and brands continue to project strong momentum
• Domestic market likely to stay strong post festival buying
• Overall demand may get hampered if fresh wave of infections set-in

Revenue to grow by over 40% over Q3 FY 21 (4-5% sequentially)

• Marginal increase in volumes in textiles and AMD
• Price increases to mitigate cost push

EBIDTA to increase

• EBIDTA to grow over Q2 FY 22 due to volume growth & price increases to take care of cost push

Expect to reduce debt further during Q3

Thank You!