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Arvind Ltd. — Interim / Quarterly Report 2025
Jan 29, 2025
59174_rns_2025-01-29_9b4f8e95-cacf-47a8-9b0f-52d598b7c1a1.pdf
Interim / Quarterly Report
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29th January, 2025
To, BSE Limited Listing Dept. / Dept. of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001.
Security Code: 500101 Security ID: ARVIND
To,
National Stock Exchange of India Limited Listing Dept., Exchange Plaza, 5th Floor,
Plot No. C/1, G. Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051.
Symbol: ARVIND
Dear Sir/Madam,
Sub: Submission of Integrated Filing (Financial)
Pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024, read with relevant Circular(s) issued by Stock Exchange(s), we are submitting herewith the Integrated Filing (Financial) for the quarter and nine months ended on 31st December, 2024.
Kindly take the same on records.
Thanking you
Yours faithfully, For Arvind Limited KRUNAL DEVENDRAKU MAR BHATT Digitally signed by KRUNAL DEVENDRAKUMAR BHATT Date: 2025.01.29 12:18:36 +05'30'
Krunal Bhatt Company Secretary
Encl.: As above.

A. Financial Results for the quarter and nine months ended on 31st December, 2024 – Enclosed Below
B. Statement on deviation or variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. – Not Applicable
C. Format for disclosing outstanding default on loans and debt securities: Since there is no such default, therefore it is not applicable.
D. Format for disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter) – Not Applicable for the current quarter.
E. Statement on Impact of Audit Qualifications (for audit report with modified opinion) submitted alongwith annual audited financial results (Standalone and Consolidated separately) (applicable only for Annual Filing i.e., 4th quarter) – Not Applicable for the current quarter.

Chartered Accountants 19th Floor, Shapath-V S.G . Highway Ahmedabad - 380 015 Gujarat, India
Tel: +91 79 6682 7300 Fa x: +91 79 6682 7400
I NDEPENDENT AUDITOR'S REVIEW REPORT ON THE INTERIM STANDALONE FINANCIAL RESULTS
TO THE BOARD OF DIRECTORS O F ARVIND LIMITED
-
- We have reviewed the accompa nying Statement of Standalone Unaud ited Financial Resu lts of ARVIND LIMITED ("the Company "), for the quarter and nine months ended December 31, 2024 ("the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requ irements ) Regulations, 2015, as amended ("the Listing Regulations ") .
-
- Th is 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 accou nt ing principles generally accepted in Ind ia and in compl iance with Regu lation 33 of th e Li sting Reg ul ations. Our respons ibi lity is to express a co nclusion on the Statement based on our re v iew.
-
- We co nducted our revi ew of the Statement in accordance with the Standard on Revi ew En gagem ents (SRE) 2410 ' Rev iew of Interim Financial Information Performed by t he Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI) . A review of interim financial information cons ists of making inquiries, primari ly of the Company's personnel respons ible for financia l and accounting matters and applying analytical and other review procedures. A rev iew 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. According ly, we do not express an audit opinion.
- 4 . Based on our rev iew conducted as stated in paragraph 3 above, nothing has come to ou r 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 Sta ndard and other accounting pri nci pies genera I ly accepted in Ind ia, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Li sting Regulations including the manner in wh ich it is t o be disclosed, or th at it co ntains any material m isstatement .
For Deloitte Haskins & Sells LLP Cha rte red Accountants (Firm's Reg istration No . 117366W/W-100018)
Pl ace: Ahmedabad Date : January 28, 2025

Hardik Sutaria Partner (Membership No. 116642) U DI N:~ *S*ll~ G *l* l-.. ~I"\ LM V -\ *~C=tl*
Page 1 of 1: Regd . Office: One International Center, Tower 3, 32nd floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 01 3, Maharashtra , India. Deloitte Haskins & Sells LLP is regi stered with Limited Li ability having LLP identification No: AAB-8737
| ( '? in Crores except per share data ] | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Sr. Particulars | Qua rter EndedNine Months Ended | ||||||||
| No. | 31.12.2024 30 .09.2024 | 31.12.2023 31.12.2024 31.12.2023 31.03.2024 | Year Ended | ||||||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||||
| 1 | Income | ||||||||
| (a) Revenue from opera tions | 1,926 .65 | 2,022.88 | 1,754.24 | 5,637. 39 | 5,200 .89 | 7, 100.46 | |||
| (b) Ot her income | 18. 39 | 14 .23 | 10.52 | 46.90 | 4 2.54 | 53 .38 | |||
| Total Income | 1,945.04 | 2,037.11 | 1,764.76 | 5,684.29 | 5,243.43 | 7, 153.84 | |||
| 2 | Expenses | ||||||||
| (a) Cost of materials consumed | 909. 78 | 927.05 | 791. 78 | 2,638.93 | 2,45 2.8 1 | 3,299.35 | |||
| (b) Purchase of stock-in-trade | 34.57 | 54 . 75 | 35.50 | 123 . 33 | 92.30 | 155 .62 | |||
| (c) Changes in inventories of finished goods, work-in -progress and stock -in-trade | (39 .33 ) | 35 .52 | 4 .62 | (5.74) | (55 .06) | (47.00) | |||
| (d) Project expenses | 3. 78 | 12. 79 | 20 .00 | 39 .20 | 46 .93 | 72.25 | |||
| (e) Employee benefit expenses | 23 2.03 | 223 .05 | 208 . 34 | 654.84 | 626 07 | 822. 79 | |||
| (f ) Finance costs | 39 . 16 | 37.08 | 36.42 | 114.28 | 107. 36 | 150. 82 | |||
| (g ) Depreciation and amortisation expenses | 53. 99 | 53 . 17 | 50.95 | 159. 22 | 160. 86 | 2 12. 77 | |||
| ( h) Ot her expenses | 580.85 | 56 7.83 | 497 .64 | 1,649.00 | 1,507.98 | 2,060.79 | |||
| Total Expenses | 1,814.83 | 1,911.24 | 1,645 .25 | 5,373 .06 | 4,939 .25 | 6,727.39 | |||
| 3 | Profit before Exceptional Items and Tax (1-2) | 130.21 | 125.87 | 119.51 | 311.23 | 304.18 | 426.45 | ||
| 4 | Exceptional Items (net of ta x) (Refer Note 2) | (23.33 ) | (0 .49) | ( 23.33 ) | (0 .49 ) | (22.40) | |||
| 5 | Profit before tax (3+4) | 130.21 | 102.54 | 119.02 | 287.90 | 303 .69 | 404.05 | ||
| 6 | Tax Expense : | ||||||||
| - Current Ta x | 33.70 | 28.94 | 32.83 | 75 .41 | 79.92 | 11 2.39 | |||
| - Short/(Excess ) provi sion of ea rlier years | ( 2 66 ) | (2.66 ) | 4 .03 | ||||||
| - Deferred Ta x Charge/( Credit) | 2.09 | 6 .46 | (4.6 1) | 11.11 | (9 .28 ) | ( 17 .27 ) | |||
| - Deferred Ta x Charge - Exceptional (Refer Note 7) | 56 .77 | 56 .77 | |||||||
| Total Tax Expen se | 33 .13 | 92.17 | 28.22 | 140.63 | 70 .64 | 99.15 | |||
| 7 | Profit for the period (5 - 6) | 97.08 | 10.37 | 90.80 | 147.27 | 233.05 | 304.90 | ||
| 8 | Other Comprehensive Income/(Loss) (net of tax) | ||||||||
| (a) Items that will not be classified to profit and loss | |||||||||
| (i) Equity Instruments through Other Comprehensive Income (FVOCI) | ( 22.33 ) | (22.33 ) | (22.33 ) | ||||||
| '."' " ~~::c,t.:-,-,-,• ;ia:~/'.l0ss ) of refin"d 'Jenefit plan | 1.86 | 1.86 | 1. 07 | 5 .58 | 1 ) ' | 7 .f!l | |||
| (iii) Income ta x related to items ( i) & (ii) above | (0 .47) | (0 .47 ) | 4.94 | ( 1.41 ) | 4.40 | 3.24 | |||
| (b) Items that will be reclassified to profit and loss | |||||||||
| (i) Effect ive portion of gain/(loss ) on cash flow hedges | ( 19 .52 ) | (4.25 ) | 9.24 | ( 18.31 ) | 3.49 | 5. 7 1 | |||
| (ii) Income ta x related to item (i) above | 4 .9 1 | 1. 07 | (2.33 ) | 4.61 | (0.88 ) | ( 1.4 3) | |||
| Other Comprehensive Income/(Loss) (net of tax) | (13.22) | (1.79) | (9.41) | (9.53) | (12.11) | (7.00) | |||
| 9 | Total Comprehensive Income for the period (7+8) | 83.86 | 8.58 | 81.39 | 137.74 | 220 .94 | 297.90 | ||
| 10 Paid-up Equ it y Share Capita l (Face Value , 10/ - per share) | 26 1.77 | 261.73 | 261.61 | 261.77 | 261.61 | 26 1.63 | |||
| 11 Ot her Equit y12 Earnings per Share in , - (Not Annualised) | 3,214.74 | ||||||||
| - Basic | 3 . 71 | 0 .40 | 3.47 | 5 .63 | 8.9 1 | 11. 66 | |||
| - Di luted | 3. 70 | 0.40 | 3.46 | 5.62 | 8.90 | 11 .65 | |||
| (See accompanying notes to the Standalone Financial Results) |



Arvind Limited, Naroda Road, Ahmedabad. 380 025, India Tel.: +91 79 68268000 CIN: L 17119GJ1931 PLC000093
L NVIno
Notes:
- The above sta ndalone unaud ited financial resu lts were reviewed by the Aud it Committee and have been considered and approved by the Board of Directors at their meeting held on Ja nuary 28, 202 5. The same ha e been subJected o Limited Re view by the Statutory Aud itors.
- 2 Exception a I items represent following:
.L ArVIno
| Particulars | Quarter Ended | Nine Months Ended | Yea r Ended | |||
|---|---|---|---|---|---|---|
| 31.12.2024 | 30.0 9.20 24 31.12.2023 | 31.12.2024 31. 12.2023 | 31.03 .2 024 | |||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
| (a) Provis ion for impairment of in vestments and loans/ loss | ||||||
| on sa le of investments | (27 .30) | (27.30) | (28 .5 6) | |||
| (b) Investment written off | (0 .65) | (0 .65 ) | (0 .65) | |||
| ( 27.30 ) | ( 0.65) | (27.30) | ( 0 .65 ) | (29 .21) | ||
| Ta x Impa ct on above | 3.97 | 0.16 | 3.97 | 0.16 | 6 .8 1 | |
| Total | ( 23.33) | ( 0 .49) | (23.33) | (0.49 ) | (22 .40) |
3 Other Income includes share of Loss from LLPs amounting to z 0 .39 crores and z 0.37 crores for the quarter ended December 31, 20 24 and September 30, 2024 respectively and Loss of z 1.62 crores for the nine months ended on December 31 , 2024 (previous year - Profit of z 0 .88 crores for the quarter ended December 31, 2023, Profit of z 0 .69 crores for the nine months ended December 31, 2023 and Profit of z 0.03 crores for t he year ended March 31, 2024 respectively).
4 During the previous year, the Company has sold its investment in equity shares and Non Convertible Debentures of its subsidiaries to its another subsidiaries for a consideration of z 85.72 crores. Resulting ga in of z 29.72 crores on such sa le is accounted for in " Capital Reserve", this being in the nature of common control business combination.
5 The Board at its meeting dated May 6, 2024 has approved the Scheme of Arra ngement (" Scheme") for transfer and vesting of "Ad vanced materials division" of the company to Arvind Advanced Materials Limited, a wholly owned su bsid iary of the company, on an ongoing basis by wa y of slump sa le with effect from the appointed date i.e. April 1, 2024 at book value, under Sec 230 to 232 and other applicable provisions of the Compan ies Act, 20 13.
The Company had filed an application with the Hon'ble Na tional Company La w Tribunal , Ahmedabad Bench (NCLT) under section 230-232 of the Companies Act 2013 for conven ing meetings of shareholders/c reditors. NCLT has vide its order dated 9th January, 2025 disposed of the application citing certain discrepancies in the disclosures with respect to li st of cred itors. The Company has filed the interlocutory appl ication with NCLT along with explanations for rectification of the sa id order.
As the Scheme is subject to requ isite regu latory and ot er approva ls, pending which no adj ustments are req uired to be made in the financ ial resu lts for i:he quarter ended December 31, 2024.
- 6 The operations at Company's plant located at Santej , GuJarat, were partially affected for a period of 21 days due to strike by section of workers during the quarter ended June 30, 2024 . The Labour Court declared the strike illega l in an order dated June 6, 2024. Subsequently, the strike was ca lled off by the workers, and operations at the Santej plant ha ve since normal ized .
- 7 Pursuant to the latest amendments in the Finance (No. 2) Act 2024, long term capita l gains ta x rate was changed from 20% plus surcharge and cess (with indexation) to 12 .5% plus surcharge and cess (wit hout inde xation). In accordance with the sa id amendments, the deferred ta x asset has been reduced by z 56. 77 crores as a cumulati ve one time impact wh ile comput in g the profit after ta x for the period ended September 30, 2024. It is to be noted that onl y a provis ion is being made in the books of accounts to record the Deferred Ta x in line with the applicable accounting standards and recentl y enacted tax change .
Ahmedabad January 28, 2025


| [₹ in Crores] | |||||||
|---|---|---|---|---|---|---|---|
| Sr. | Particulars | Nine Months Ended | Year Ended | ||||
| No | 31.12.2024 | 30.09.2024 | 31.12.2023 | 31.12.2024 | 31.12.2023 | 31.03.2024 | |
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||
| 1 Segment Revenue (Net Sales/Income from Operations) | |||||||
| (a) Textiles | 1,535.44 | 1,599.38 | 1,394.66 | 4,450.02 | 4.167.29 | 5.629.68 | |
| Advanced Materials(b) | 340.67 | 353.32 | 325.07 | 989.23 | 956.02 | 1,302.27 | |
| Others(c) | 52.83 | 70.89 | 34.88 | 201.38 | 78.65 | 169.74 | |
| Total | 1,928.94 | 2,023.59 | 1,754.61 | 5,640.63 | 5,201.96 | 7,101.69 | |
| Less : Inter Segment Sales | 2.29 | 0.71 | 0.37 | 3.24 | 1.07 | 1.23 | |
| Net Sales/Income from Operations | 1,926.65 | 2,022.88 | 1,754.24 | 5,637.39 | 5,200.89 | 7,100.46 | |
| $\overline{2}$ | Segment Results (Profit/(Loss) before interest & Tax)(a) Textiles | ||||||
| - Profit before Exceptional items | 124.18 | 116.30 | 130.65 | 293.96 | 346.83 | 480.15 | |
| - Exceptional items (Refer Note 2) | (27.30) | (0.65) | (27.30) | (0.65) | (29.21) | ||
| Textiles Total | 124.18 | 89.00 | 130.00 | 266.66 | 346.18 | 450.94 | |
| Advanced Materials(b) | 47.22 | 46.94 | 40.09 | 128.70 | 111.13 | 146.15 | |
| Others(C) | (3.15) | (0.37) | (7.54) | (3.05) | (22.50) | (18.89) | |
| Total | 168.25 | 135.57 | 162.55 | 392.31 | 434.81 | 578.20 | |
| Less: Interest and Finance Charges | 39.16 | 37.08 | 36.42 | 114.28 | 107.36 | 150.82 | |
| Other Unallocable income/(expenditure) | |||||||
| - Profit/(Loss) before Exceptional items | 1.12 | 0.08 | (7.27) | 5.90 | (23.92) | (30.14) | |
| - Exceptional items (Refer Note 2) | 3.97 | 0.16 | 3.97 | 0.16 | 6.81 | ||
| Add: Total Other Unallocable income/(expenditure) | 1.12 | 4.05 | (7.11) | 9.87 | (23.76) | (23.33) | |
| Profit Before Tax | 130.21 | 102.54 | 119.02 | 287.90 | 303.69 | 404.05 | |
| 3 | Segment Assets | ||||||
| (a) Textiles | 4,561.22 | 4,466.23 | 4,355.89 | 4,561.22 | 4,355.89 | 4,422.16 | |
| Advanced Materials(b) | 872.76 | 867.77 | 726.31 | 872.76 | 726.31 | 759.52 | |
| Others(C) | 505.29 | 517.11 | 529.54 | 505.29 | 529.54 | 550.58 | |
| Total Segment Assets | 5,939.27 | 5,851.11 | 5,611.74 | 5,939.27 | 5,611.74 | 5,732.26 | |
| Unallocable | 1,133.87 | 1,051.44 | 1,048.22 | 1,133.87 | 1,048.22 | 996.56 | |
| Total Assets | 7,073.14 | 6,902.55 | 6,659.96 | 7,073.14 | 6,659.96 | 6,728.82 | |
| Segment Liabilities | |||||||
| Textiles(a) | 1,436.90 | 1,422.78 | 1,263.69 | 1,436.90 | 1,263.69 | 1,384.01 | |
| Advanced Materials(b) | 260.50 | 244.51 | 184.33 | 260.50 | 184.33 | 194.43 | |
| Others(C) | 319.58 | 356.24 | 366.67 | 319.58 | 366.67 | 373.08 | |
| Total Segment Liabilities | 2,016.98 | 2,023.53 | 1,814.69 | 2,016.98 | 1,814.69 | 1,951.57 | |
| Unallocable | 177.89 | 108.36 | 54.60 | 177.89 | 54.60 | 53.12 | |
| Total Liabilities | 2,194.87 | 2,131.89 | 1,869.29 | 2,194.87 | 1,869.29 | 2,004.69 |
SEGMENTWISE REVENUE, RESULTS, SEGMENT ASSETS AND LIABILITIES (STANDALONE) FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024
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
Classification of Reportable Segments:
Arvind
- and The Textiles: Fabrics, Garments and Fabric Retail.1. Textiles: Fabrics, Garments and Fabric Retail.2. Advanced Materials: Human Protection fabric & garments, Industrial Products, Advance Composites and Automotive
- $\overline{3}$ Others : EPABX and One to Many Radio, Developing of Residential Units, Construction contracts and Oth

LIM LIN $\Omega$ For Arvind Limited muit Kalbhai NARODA ರ $\overline{\alpha}$ ₫ ROAD Ò Punit S. Lalbhai Ô Ć Vice Chairman AHMEDAB
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 REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS
TO THE BOARD OF DIRECTORS OF ARVIND LIMITED
-
- We have reviewed the accompanying Statem ent of Consoli dated Unaud ited Financial Resu lts 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 loss after tax and tota l co m prehensive loss of its associate and j oi nt ventures for the quarter and nine months ended Decembe r 31 , 2024 ("t he Statem ent") being subm itted by the Pa rent pursuant to the requ irement of Reg ulation 33 of t he SEBI ( Listing Obi igations and Disclosure Requ iremen ts) Reg ulations, 20 15, as amended ("the Li sting Reg ul ati ons ") .
-
- Thi s State ment , which is t he respo nsibilit y of the Parent 's Management and approved by t he Parent 's Board of Directors, has been prepared in accordance with the recognit ion and measurement principles laid down in th e I ndian Accou nt ing Sta ndard 34 " I nterim Fin anci al Reporting" ("I nd AS 34 "), prescribed un der Section 133 of t he Compani es Act , 20 13 read wit h relevant rules issu ed t hereun der and ot her account in g princi ples generally acce pted in I ndi a and in compli ance with Reg ul ation 33 of t he Listing Reg ulation s. Our responsibility is t o express a conclu sion on th e St at ement based on our revi ew.
-
- We condu cted our revi ew of t he St ate ment in accord ance with t he Sta nd ard on Revi ew Engagem ents (SRE) 2410 " Revi ew of I nterim Fin ancial Information Performed by t he Indepe ndent Audit or of t he Ent it y", issued by the I nstit ute of Chartered Accounta nts of I ndi a (ICAI). A revi ew of interim fin ancial information con sists of ma kin g inqui ries, prim arily of Pa rent 's pe rsonn el respon sible for finan cial and accounti ng matters, and applyin g analyt ical and oth er revi ew procedures. A review is substa ntia lly ~ess in scope than an audit conducted in accord ance wit h Standards on Au dit in g specified under Section 143(10) of th e Companies Act, 2013 and consequ ently does not enable us to obtain assurance that we would becom e aware of all signif icant matters th at might be identifi ed in an audit. Accordingly , we do not express an audit opinion.
We also performed procedures in accord ance with the circular issu ed by t he SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulation s, 2015, as amended , to the extent applicable.
-
- The Statement includes the resu lts of the parent, subsidiaries, joint ventures, and an associ ate as given in the Annexure to this report.
-
- Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the con sid eration 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 t he accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesa id Indian Accountin g 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 Listing Regulations , including the man ner in which It is to be disclosed, or that it conta ins any material misstatement.

- We did not review the interim financial information of 11 subsidiaries included in the consolidated unaudited financial results, whose interim financial information reflects total revenues of Rs. 338.29 crores and Rs. 934.36 crores for the quarter and nine months ended December 31, 2024, respectively, total net profit after tax of Rs. 17.68 crores and Rs. 33.60 crores for the quarter and nine months ended December 31, 2024, respectively, total comprehensive income of Rs. 20.60 crores and Rs. 5.29 crores for the quarter and nine months ended December 31, 2024, respectively as considered in the Statement. The consolidated unaudited financial results also include the Group's share of loss after tax of Rs. 0.19 crores and Rs. 0.17 crores for the quarter and nine mo nt hs ended December 31, 2024, respectively, and tota l comprehensive loss of Rs. 0.19 crores and Rs. 0.17 crores for the quarter and nine months ended December 31 , 2024, respectively as considered in the Statement, in respect of 1 Joint Venture, whose interim financial information have not been reviewed by us. This interim financial information has 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 and Joint Venture, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragrap h 3 above.
One of these subsidiaries is located outside India whose interim financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been reviewed by other auditors under generally accepted auditing standards applicable in its country. The Parent's management has converted the interim financial information of such subsidiary located outside India from accounting principles genera lly accepted in its country to accounting pri ncipl es general ly accepted in Ind ia. We have revi ewed these co nve rsion adjustments, if any, m ade by t he Parent's managem ent. Our report on the Statem ent, in so far as it relates to the amounts and disclosures included in respect of th is subsidiary located outside India is based on the report of other auditors and the conversion adjustments prepared by the management of the Parent and reviewed by us.
Our conclusion on the Statement is not modified in respect of these matters.
- The conso lidated unaudited financial resu Its include the interim financial information of 8 subsidiaries which have not been reviewed by their auditors, whose interim financia l information reflects total revenue of Rs. 4.13 crores and Rs. 10.03 crores for the quarter and nine months ended December 31, 2024, respectively, total net loss after tax of Rs. 0.65 crores and Rs. 10.00 crores for the quarter and nine months ended December 31, 2024, respectively, total comprehensive income of Rs. 0.50 crores and Rs. 8.19 crores for the quarter and nine months ended December 31 , 2024, respectively as considered in the Statement. The consolidated unaudited financ ial results also include the Group's share of loss after tax of Rs. 0.58 crores and Rs. 0.07 crores for the quarter and nine mont hs ended December 31, 2024, respectively, and tota l comprehensive loss of Rs. 0.58 crores and Rs. 0.07 crores for th e quarter and nine months ended December 31, 2024, respectively as considered in the Statement, in respect of 3 Joint Ventures and 1 Associate, 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, this interim financial information is not material to the Group.

Our Conclus ion on the Statement is not mod if ied in respect of our reliance on the interim financia l information certified by the Management.
For Deloitte Haskins & Sells LLP Chartered Accountants ( Firm's Registration No. 117366W/ W-100018)

Place: Ah medabad Date: January 28, 2025
Annexure to Independent Auditor's Report
The Parent
- Arvind Limited
List of Subsidiaries
-
- Arvind PD Composite Private Limited
-
- Arvind OG Nonwovens Private Limited
-
- Arvind Smart Textile Limited
-
- Syntel Telecom Limited
-
- Arvind Envisol Limited
-
- Arvind Worldwide Inc.
-
- Arvind Niloy Exports Private Limited
-
- Arvind Lifestyle Apparel Manufacturing PLC
-
- Maruti and Ornet Infrabuild LLP
-
- Arvind Sports Fashion Private Limited
-
- Arvind Premium Retail Limited
-
- Arvind Enterprise FZC
-
- Arya Omnitalk Wireless Solutions Private Limited
-
- Arvind Envisol, PLC
-
- Syntel Enkay Converged Technologies LLP (Formerly known as Enkay Converged Technologies LLP)
-
- Arvind Technical Products Private Limited
-
- Arvind Township LLP (Formerly known as Arvind and Smart Value Homes LLP) (w.e.f April 1, 2023)
-
- Arvind Advanced Materials Limited (Formerly known as Arvind Polymer Textiles Limited)
-
- Purfi Arvind Manufacturing India Private Limited (w.e.f. December 5, 2024)
List of Joint Ventures
-
- Arya Omnitalk Radio Trunking Services Private Limited
-
- Arudrama Developments Private Limited
-
- Adient Arvind Automotive Fabrics India Private Limited
-
- PVH Arvind Manufacturing PLC
List of Associate
- Renew Green (GJ Eight) Private Limited

ST AT EM EN T OF CON SO LIDATED FI NANCIAL RESULTS FOR THE Q UARTER AND NINE MONTHS ENDED DECEMBER 31, 2024
| [ z 1n Crores except per share data ] | ||||||||
|---|---|---|---|---|---|---|---|---|
| c . | P~rt:c:u!a:-s | Q··~ , s: | l.li ,o Mnr, +- hc ,::,.rf o rf | c: ,~ 4!",., | ||||
| No | 31. 1 2.2024 | 30.09.2024 | 31.12.20 23 31.12.2024 3 1 .12.2023 31.03.2024 | |||||
| Una udited | Una udited | Unaudited | Unaud ited | Unaud ited | Aud ited | |||
| 1 Incomel ;i ' Revenue from operation s | 2,089 .2 1 | 2, 188 .3 1 | 1,888 .24 | 6, 108. 12 | 5,663 .24 | 7,737 .75 | ||
| (b) Ot her income | 10 .56 | 11. 87 | 9. 41 | 35 .35 | 33 .00 | 4 0 .83 | ||
| Tota l I ncome | 2 ,099.77 | 2 , 200.18 | 1,897.65 | 6, 143.47 | 5 , 696.24 | 7 , 778 .58 | ||
| 2 | Expenses | |||||||
| (a) Cost of materials consumed | 936.61 | 939 .31 | 83 5.42 | 2,696 . 19 | 2, 540.64 | 3,4 75 .78 | ||
| (b) Purchase of stock-in-trade | 98.42 | 99.37 | 43 .88 | 264.03 | 195.20 | 236.68 | ||
| (c) Changes in inventories of finished goods, work-in -progress and stoc k-in-trade(d ) Project expenses | (79.35 )9 .60 | 3 1.1721. 11 | 1.5528.39 | (55 . 17)58.03 | (43 .12)8 1.34 | (33 . 7 1)122 . 34 | ||
| (e) Employee benefit expenses | 274.44 | 265 . 35 | 241.26 | 780 . 12 | 723. 76 | 963 . 57 | ||
| (f) Finance costs | 39. 71 | 38 . 71 | 38.8 1 | 11 8 .77 | 114. 04 | 159.30 | ||
| (g ) Depreciation and amortisation expenses | 6 1.68 | 59 .50 | 66 .39 | 189.66 | 198 .49 | 265. 82 | ||
| (h) Other expenses | 612.44 | 611.05 | 521.6 1 | 1,75 7.09 | 1,563.04 | 2, 127 .88 | ||
| Tota l Expenses | 1,953.55 | 2 ,065.57 | 1,777.31 | 5,808.72 | 5,373.39 | 7,317 .66 | ||
| 3 | Profit before Share of Profit/( Loss ) of Joint Ventures and Associate,Exceptiona l Items and tax ( 1-2) | 14 6.22 | 134 .6 1 | 120 .34 | 334.75 | 322.85 | 4 60 .9 2 | |
| 4 | Share of Profit/( Loss ) of Join t Ventures and Ass ociate accounted for using Equit yMethod | (0.77 ) | 0. 14 | (0 .53 ) | (0.24 ) | (0.23 ) | (0.08 ) | |
| 5 | Profit before Exceptional items and tax (3+4) | 14 5.45 | 134.75 | 119.81 | 334.51 | 322.62 | 460 .8 4 | |
| 6 | Exceptional Items ( net of tax) (Refer Note 2) | 0 .16 | 2.46 | 2 .46 | ||||
| 7 | Profit before Ta x ( 5+6) | 145.45 | 134, 75 | 119.97 | 334.51 | 325.08 | 4 63 .3 0 | |
| 8 | Tax Expense : | |||||||
| - Current Tax | 38. 95 | 32 .40 | 36.48 | 87.28 | 92.21 | 129 .31 | ||
| - Short/( Excess ) Provision of earlier years | ( 2.42 ) | 0.0 1 | ( 2.42 ) | (0. 59 ) | 3.94 | |||
| - Deferred Tax Charge/(Credit) | 2 .68 | 10.23 | ( 10.84 ) | 7.56 | ( 14 .75) | ( 22.58 ) | ||
| - Deferred Ta x Charge-Exceptional (Refer note 5) | 29 .3571.98 | 25.65 | 29.3 5 | 76.87 | ||||
| Total Tax Expense | 39. 2 1 | 121.77 | 110.67 | |||||
| 9 | Profit for the period ( 7-8 )Attributable to: | 106.24 | 62.77 | 94.32 | 212.74 | 248.21 | 352.63 | |
| Cauit y ho:der!; of th ;;, Pa rent | l OJ .4 2 | 59.72 | 91.10 | 202.4 5 | 23 7 5~ | ~.,,:; 61 | ||
| Non Controlling Interest | 2 .82 | 3.05 | 2. 62 | 10.29 | 10 .63 | 16 .02 | ||
| 10 Other Comprehensive Income/ (Loss) ( net of tax ) | ||||||||
| (a ) Items that w ill not be reclassified to profit and loss | ||||||||
| (i) Equit y Instruments through Other Comprehensive Income (FVOCI ) | 3. 76 | ( 1.22 ) | (22.43 ) | (4 .44 ) | ( 22 .43 ) | (2 1. 87) | ||
| (ii) Remeasurement gain/(los s) of defined benefit plans(iii) Share of Other Comprehensive Income/( Loss ) of Joint Ventures and | 1.58 | 1. 58 | 1.20 | 4 .73 | 3.58 | 6.40(0 .03 ) | ||
| Associate accounted for using Eq uit y method (net of ta x) | ||||||||
| (iv) Income tax rela ted to items (i) and (1i) above | (0 .84 ) | ( 1. 07 ) | 4 .93 | ( 1. 26 ) | 4.33 | 3.40 | ||
| ( b) Items that w ill be reclassified to profit and loss | ||||||||
| (i) Effecti ve portion of ga in/(loss) on cash flow hedges(ii) Income ta x related to item (i) above | ( 20 .55) | (4 .2 3 ) | 9 .59 | (18.92 ) | 3 .61 | 5. 86 | ||
| (i ii) Exchange differences on trans lation of foreign operations | 5. 171. 7 1 | 1.06(6 .00 ) | (2.42 )(0.68 ) | 4 .76(4.08 ) | (0 .91 )( 1. 79 ) | ( 1.47 )( 1.8 1) | ||
| Other Comprehensive Income / (Loss) (net of tax ) | ( 9.17 ) | ( 9.88) | (9.81) | (19 .21) | (13 .61) | ( 9.52 ) | ||
| Attributable to: | ||||||||
| Equ ity holders of the Parent | ( 9.14 ) | ( 9.54 ) | (9.81) | (18.28) | ( 13.42) | ( 9.14) | ||
| Non Controlling Interest | (0 .0 3) | (0.34 ) | (0. 93 ) | (0 .19 ) | (0 .38 ) | |||
| 11 Total Comprehensive Income for the period ( 9 + 10) | 97.07 | 52.89 | 84.51 | 193.53 | 234 .60 | 343.1 1 | ||
| Attributable to:Equity holders of the Parent | 94 .28 | 50.18 | 81.89 | 184.17 | 224 .16 | 327.4 7 | ||
| Non Controlling Interest | 2. 79 | 2.71 | 2 .62 | 9 .36 | 10 .44 | 15 .64 | ||
| 1 2 Pa id -up Equity Sha re Capital (Face Value z 10/ - per share) | 261.77 | 261. 73 | ||||||
| 13 Other Equ it y | 261 .61 | 261.77 | 261.61 | 261.633,281.12 | ||||
| 14 Earnings per Share in~ - {Not Annual ised) | ||||||||
| - Bas ic | 3 .96 | 2 .28 | 3 .50 | 7 .74 | 9.08 | 12 .87 | ||
| - Diluted | 3. 95 | 2.28 | 3 .50 | 7. 73 | 9 .08 | 12 86 | ||
| (See accompanying notes to the Consolidated Financial Resu lts ) |

Arvind Limited. Naroda Road, Ahm edabad. 380 025, India Tel.: +91 79 68268000 CIN: L 17119GJ1931 PLC000093
L ArVIno

www.arvind.com
Notes:
- 1 The above 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 January 28, 2025.
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| Exceptional items represent following: | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Particulars | Ouarter Ended | Nine Months Ended | Year Ended | |||||||
| 31.12.2024 | 30.09.2024 | 31.12.2023 | 31.12.2024 | 31.12.2023 | 31.03.2024 | |||||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |||||
| Reversal for doubtful receivables | - | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | $\sim$ | 2.73 | 2.73 | ||||
| $\blacksquare$ | 2.73 | 2.73 | ||||||||
| Tax Impact on above | $\overline{\phantom{a}}$ | $\overline{\phantom{a}}$ | $^{\wedge}0.16$ | the con- | (0.27) | (0.27) | ||||
| Total | ۰ | 0.16 | - | 2.46 | 2.46 |
^ Tax impact on loss due to liquidiation of Investment in Subsidiary.
3 Key numbers of standalone financial results of the company are as under. The standalone financial results for the quarter and nine months ended December 31, 2024 are available on Company's website (www.arvind.com).
| Particulars | Quarter Ended | Nine Months Ended | Year Ended | |||
|---|---|---|---|---|---|---|
| 31.12.2024 | 30.09.202431.12.2023 | 31.12.2024 | 31.12.2023 | 31.03.2024 | ||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | |
| Revenue from Operations | 1,926.65 | 2,022.88 | 1.754.24 | 5.637.39 | 5,200.89 | 7,100.46 |
| Profit before Tax | 130.21 | 102.54 | 119.02 | 287.90 | 303.69 | 404.05 |
| Profit for the period | 97.08 | 10.37 | 90.80 | 147.27 | 233.05 | 304.90 |
| Other Comprehensive Income/(Loss) (net of tax) | (13.22) | (1.79) | (9.41) | (9.53) | (12.11) | (7.00) |
| Total Comprehensive Income for the period | 83.86 | 8.58 | 81.39 | 137.74 | 220.94 | 297.90 |
4 The operations at Santej plant were substantially affected for continuous 21 days due to a strike organised by the workers during the quarter ended June 30, 2024. On June 6, 2024, the Labour Court declared the strike illegal and thereafter it was called off by the workers. Operations of plant is fully resumed now
5 Pursuant to the latest amendments in the Finance (No. 2) Act 2024, long term capital gains tax rate was changed from 20% plus surcharge and cess (with indexation) to 12.5% plus surcharge and cess (without indexation). In accordance with the said amendments, the deferred tax asset has been reduced by ₹ 29.35 crores as a cumulative one time impact while computing the profit after tax for the period ended September 30, 2024. It is to be noted that only a provision is being made in the books of accounts to record the Deferred Tax in line with the applicable accounting standards and recently enacted tax change.
Ahmedabad January 28, 2025

LIM ۲ AR NARODA ⊂ ROAD WEDAD
For Arvind Limited unit Kalbaar Punit S. Lalbhai
Vice Chairman
Arvind Limited, Naroda Road, Ahmedabad. 380 025, India Tel.: +91 79 68268000 CIN: L17119GJ1931PLC000093
| SEGMENTWISE REVENUE, RESULTS, SEGMENT ASSETS AND LIABILITIES (CONSOLIDATED) FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2024 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ in Crores | |||||||||||
| Sr. Particulars | Quarter Ended | Nine Months Ended | Year Ended | ||||||||
| No | 31.12.2024 | 30.09.2024 | 31.12.2023 | 31.12.2024 | 31.12.2023 | 31.03.2024 | |||||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Audited | ||||||
| 1 Segment Revenue (Net Sales/Income from Operations) | |||||||||||
| (a) Textiles | 1,576.84 | 1,632.99 | 1,425.50 | 4,559.85 | 4,298.93 | 5,803.31 | |||||
| (b) Advanced Materials | 376.13 | 387.91 | 344.59 | 1,092.83 | 1,041.04 | 1,427.68 | |||||
| (c) Others | 177.04 | 188.07 | 138.61 | 536.64 | 388.60 | 593.21 | |||||
| Total | 2,130.01 | 2,208.97 | 1,908.70 | 6,189.32 | 5,728.57 | 7,824.20 | |||||
| Less : Inter Segment Sales | 40.80 | 20.66 | 20.46 | 81.20 | 65.33 | 86.45 | |||||
| Net Sales/Income from Operations | 2,089.21 | 2,188.31 | 1,888.24 | 6,108.12 | 5,663.24 | 7,737.75 | |||||
| 2 Segment Results (Profit/(Loss) before Interest & Tax) | |||||||||||
| (a) Textiles | 131.72 | 124.69 | 120.52 | 308.09 | 332.47 | 461.13 | |||||
| (b) Advanced Materials | 52.54 | 53.63 | 45.90 | 146.92 | 138.11 | 194.58 | |||||
| $(c)$ Others : | |||||||||||
| - Profit/(Loss) before Exceptional items | 9.83 | (0.44) | 2.62 | 12.47 | 1.64 | 10.41 | |||||
| - Exceptional Items (Refer Note 2) | 2.30 | 2.30 | |||||||||
| Others Total | 9.83 | (0.44) | 2.62 | 12.47 | 3.94 | 12.71 | |||||
| Total | 194.09 | 177.88 | 169.04 | 467.48 | 474.52 | 668.42 | |||||
| Less: Interest and Finance Charges | 39.71 | 38.71 | 38.81 | 118.77 | 114.04 | 159.30 | |||||
| Other Unallocable income/(expenditure) | |||||||||||
| - Loss before Exceptional items | (8.93) | (4.42) | (10.42) | (14.20) | (35.56) | (45.98) | |||||
| - Exceptional Items (Refer Note 2) | 0.16 | 0.16 | 0.16 | ||||||||
| Add: Total Other Unallocable income/(expenditure) | (8.93) | (4.42) | (10.26) | (14.20) | (35.40) | (45.82) | |||||
| Profit Before Tax | 145.45 | 134.75 | 119.97 | 334.51 | 325.08 | 463.30 | |||||
| 3 Segment Assets | |||||||||||
| (a) Textiles | 4,852.81 | 4,718.55 | 4,517.75 | 4,852.81 | 4,517.75 | 4,659.72 | |||||
| (b) Advanced Materials | 1,056.33 | 1,043.90 | 778.71 | 1,056.33 | 778.71 | 888.98 | |||||
| (c) Others | 794.04 | 785.95 | 879.26 | 794.04 | 879.26 | 821.99 | |||||
| Total Segment Assets | 6,703.18 | 6,548.40 | 6,175.72 | 6,703.18 | 6,175.72 | 6,370.69 | |||||
| Unallocable | 975.09 | 914.81 | 980.34 | 975.09 | 980.34 | 889.68 | |||||
| Total Assets | 7,678.27 | 7,463.21 | 7,156.06 | 7,678.27 | 7,156.06 | 7,260.37 | |||||
| 4 Segment Liabilities | |||||||||||
| (a) Textiles | 1,524.70 | 1,512.47 | 1,333.39 | 1,524.70 | 1,333.39 | 1,459.70 | |||||
| (b) Advanced Materials | 315.99 | 300.98 | 195.83 | 315.99 | 195.83 | 238.70 | |||||
| (c) Others | 501.87 | 509.18 | 558.89 | 501.87 | 558.89 | 533.99 | |||||
| Total Segment Liabilities | 2,342.56 | 2,322.63 | 2,088.11 | 2,342.56 | 2,088.11 | 2,232.39 | |||||
| Unallocable | 226.84 | 162.67 | 109.71 | 226.84 | 109.71 | 81.902,314.29 | |||||
| Total Liabilities | 2,569.40 | 2,485.30 | 2,197.82 | 2,569.40 | 2,197.82 |
Notes :
--------------------------------------"Operating Segments". Above segment liability does not include borrowings.
Classification of Reportable Segments :
Arvind
1 Textiles : Fabrics, Garments and Fabric Retail.
- 2 Advanced Materials : Human Protection fabric & garments, Industrial Products, Advance Composites and Automotive fabrics.
- 3 Others : EPABX and One to Many Radio, Water Treatment, Developing of Residential Units, Construction contracts and Others.
