Arvind Ltd. — Investor Presentation 2025

May 15, 2025

15[th] May, 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, 5[th] Floor, Plot No. C/1, G. Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051.

Symbol: ARVIND

Dear Sir/Madam,

• Sub: Investor Presentation on Audited financial results for the financial year ended on 31[st] March, 2025

• Ref.: Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulations 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith Investor Presentation issued by the Company in respect of audited financial results for the financial year ended on 31[st] March, 2025.

You are requested to take the same on records.

Thanking you

Yours faithfully, For Arvind Limited

KRUNAL Digitally signed by KRUNAL DEVENDRAKUM DEVENDRAKUMAR BHATT AR BHATT Date: 2025.05.15 13:22:40 +05'30'

Krunal Bhatt Company Secretary

Encl.: As above.

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Arvind Limited Q4 & FY25 Results

Investor Review Note

15[th ] May 2025| Ahmedabad

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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.

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FY25/ Q4 reflections – hits & misses

What went right

• • Textile volumes started rebounding post Q2 – Wovens remained strong, Denim saw surge in Q4 and Garment volumes stayed healthy through out the financial year
• • Operational transformation in garmenting area reflected in 9 Mn + volume in last 5 Qtrs (9.5 Mn in Q4FY25); marquee customers onboarded

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What could have gone better

  - ➢ Q1 impacted by 2024 summer industrial action; recovery in later quarters led to strong FY25 performance.

  - ➢ H1 impacted by inventory build-up at a key specialty workwear account and weak rail-parts demand domestically.

• • Commissioned additional garmenting capacity of 3 Mn pcs - a state of the art factory serving value accretive product segments
• • AMD achieved double digit topline growth in Q4, while maintaining a healthy margin.
• • Arvind regained No.1 position in India in S&P DJSI

• sustainability assessment ranking and awarded the highest rating in water security by CDP.

• • PPA & SHA signed with subsidiary of Torrent Power for 20 MW hybrid plant; 30–40 bps margin gain from Q3FY27.

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PPA: Power purchase agreement | SHA: Shareholding agreement

Q4 FY25 results indicate stable growth

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₹ Cr YoY
Revenue
2221 7%
EBITDA
275 10%
PBT
159 15%
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PAT (Before exceptional items)
151 52%
Closing Net Debt
1250
1284
(31 [th] Mar 2024)
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• Consolidated revenues up ~7% driven by volume growth in AMD & Textiles

• Denim volume up 14% despite a weak season

• Woven volume crossed of 33 Mn Mtr

• Full Garment volume of 9.5Mn Pcs

• AMD reported volume growth of 14%

• EBITDA margin improved by 30 bps primarily on account of business mix

• PBT growth mirrors business growth & operational efficiency.

• PAT growth is higher due to DTA creation on carry-forwarded losses of some of the Subsidiaries (AMD division), hence net tax provision is reduced. Normalizing it, PAT and PBT growth are in line.

• Overall Net debt increased by ₹35 Cr during the year – Long-term debt reached ₹394 Cr

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*EBITDA includes other income

For FY25, H2/Q4 performance helped offset the impact of Q1 industrial situation

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YoY
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₹ Cr
Revenue
8329 8%
EBITDA
919 4%
PBT
494 7%
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PAT (Before exceptional items) 353 6% Closing Net Debt 1250 1284 (31[th] Mar 2024)

• As guided at the start of FY25, excluding one-offs, the year would have delivered early double-digit growth in revenue, EBITDA, and PAT.

• Full Year FY25 despite the impact of Industrial action, Revenue grew by 8%

• Textile revenues growth driven by volume growth in both Fabric and Garments

• AMD growth normalized in Q4

• EBITDA and margin remained resilient despite loss of revenue and impact of higher cost[$]

• Textile EBITDA doesn’t reflect revenue growth on account of Industrial action in Q1 FY25

• AMD achieved highest ever EBITDA of 231 Cr while maintaining a consistent margin of 15%

• – Normalized[#] consolidated EBITDA margin remained flat at 11.6%

• Overall Net debt increased by ₹35 Cr during the year – Long-term debt reached ₹394 Cr

*EBITDA includes other income | # Adjusting the EBITDA loss due to industrial Action |

$ Additional air freight incurred to mitigate the spillover impact of Industrial action of Q1 & Q2

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Q4 & Full year FY25 | Summary P&L

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YoY YoY
All figures in INR Cr Q4 FY25 Q4 FY24 FY25 FY24
Change Change
Revenue from Operations 2,221 2,075 7% 8,329 7,738 8%
Other Income 30 8 65 41
EBITDA 275 251 10% 919 886 4%
EBIDTA % 12.4% 12.1% 11.0% 11.4%
Interest 47 45 166 159
Depreciation 69 67 259 266
PBT 159 138 15% 494 461 7%
Tax 4 34 125 111
PAT 151 99 52% 353 334 6%
Cash Accruals 225 172 627 616
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• Q4 & Full year FY25 - Other income includes profit from land sale of 16.5 Cr

• PAT growth is higher in Q4FY25 due to DTA creation on carry-forwarded losses of some of the Subsidiaries (AMD division), hence net tax provision is reduced.

• Full year FY25 – PAT growth is lower due to increased provision of deferred tax as per The Finance (No. 2) Act, 2024 in Q2FY25 partially offset by reason stated above

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*EBITDA includes other income

Segment Performance

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In Inr Cr	Q4 FY25		Q4 FY24		Δ YoY
Business	Revenue EBIDTA EBIDTA % ROCE %		Revenue EBIDTA EBIDTA % ROCE %		Revenue
Textiles Advanced Material Others & Inter Segment	1614 181 11.2% 15.5% 451 69 15.4% 27.3% 156 25		1504 173 11.5% 15.0% 387 61 15.8% 32.0% 183 17		7.3% 16.6%
Total	2221 275 12.4% 15.7%		2075 251 12.1% 14.8%		7.0%

In Inr Cr	FY25		FY24		Δ YoY
Business	Revenue EBIDTA EBIDTA % ROCE %		Revenue EBIDTA EBIDTA % ROCE %		Revenue
Textiles Advanced Material Others & Inter Segment	6174 626 10.1% 12.7% 1544 231 15.0% 22.9% 611 62		5803 643 11.1% 13.6% 1428 222 15.6% 29.2% 507 20		6.4% 8.1%
Total	8329 919 11.0% 12.6%		7738 886 11.4% 12.5%		7.6%

Q4 FY25

• Textile volume, revenue, EBITDA improved on sequential as well as YoY basis

• AMD achieves highest quarterly revenue and EBITDA

• ROCE considering normalized EBIT[#] and invested capital in use[*] improved by ~190 bps to 17.1% (Reported ROCE is 15.7%)

FY25

• ROCE considering normalized EBIT[#] and invested capital in use[*] improved by ~190 bps to 14.7% (Reported ROCE is 12.6%)

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#After adjusting impact of industrial action | *Capital Employed { After eliminating CWIP}

Consolidated Balance sheet as at 31[st] March 2025

Particulars	31st Mar 25	**30th Sep 24 **	31st Mar 24
Shareholders' Fund Share Capital Reserves & Surplus Minority Interest Borrowings Long Term Borrowings Short Term Borrowings Long Term Liability Maturing in one year Lease Liabilities (Current + Non Current) Other Liabilities	3871 262 3524 85 1376 292 982 102 186 2665	3593 262 3249 82 1385 332 924 128 175 2310	3621 262 3281 78 1325 263 926 136 123 2192
Total	8099	7463	7260
Assets Fixed Assets ROU Assets Non Current Investments Other Non Current Assets Cash and cash equivalents Other Current Assets	4327 3828 160 149 190 117 3655	4021 3591 151 150 129 76 3366	3788 3440 99 160 89 76 3397
Total	8099	7463	7260

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• Long-term borrowings decreased by ₹5 crores during the year.

• Increase in Short-term borrowing is attributed towards change in customer mix and credit cycle

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Key indicators have marginally improved

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EPS Net Debt / Equity
13.5 0.35
12.8 0.33
FY24 FY25 FY24 FY25
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ROCE

12.5% 12.6%

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FY24 FY25

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Net Debt / EBITDA

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1.4 1.4
FY24 FY25
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ROE

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9.4% 9.3%
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FY24 FY25
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*EPS is before exceptional items

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Textiles

FY25 witnessed YoY volume growth across all segments

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35.0
Million M 31.7 32.7 33.2
27.0
Domestic 11.7 11.7 13.0 11.7
10.6
Export 20.0 21.0 22.0 21.5
16.4
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
Million M 14.6
12.7 13.1
11.9 12.0
5.1
4.5 4.9
Domestic 5.6 5.4
9.5
8.3 8.2
Export 6.4 6.6
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
Million Pcs 9.4 9.3 9.2 9.3 9.5
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
WOVENS
DENIM
GARMENTS
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Comparison for Q4 FY25 (YoY)

• Woven volumes remained strong

• Denim volumes reached 15M meters levels despite weak buying season

• Garmenting continued Quarterly run-rate of 9Mn + pcs for last five quarters

• Export volumes includes sales made to export customers and shipments made to their garment factories in India

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Textile

Revenue growth corresponds to growth in volume

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Textile revenues (₹ Cr)

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+6%
+7%
6,174
1,614
5,803
1,504
695 2,611
7% 2,518 4%
Woven 647
360 9% 1,257 1,279 2%
Denim 330
1,699
426 6% 1,595 7%
Garments 402
Others 220 242 849 955
Inter Segment -94 -108 -416 -370
FY24 FY25
Q4 FY24 Q4 FY25
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Q4 (YoY)

• Woven delivered revenue growth in line with increased YoY volume and realization

• Denim volumes grew 14% resulting in 9% revenue growth

• Knits business reported double digit growth

• Revenue uplift in garmenting supported by favorable product mix, with volumes remaining stable

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Textile

Textile realization & margins remained stable

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Fabric realisation ₹/m
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Textile Margin

EBITDA Margins (%)

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11.5
242 241 243 239 245 11.2 11.2
Denim 10.3
#
7.4
206
200 201 197 Wovens
193
Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25
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# Textile margins impacted due to industrial action in Q1 FY25

Advanced Materials

AMD registered robust quarterly revenue & EBITDA in Q4FY25

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AMD performance summary

Comments

₹ Cr

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+17% +8%
451 1,544
1,428
387
834
263
Human 774
216
Protection
302
Industrials 68 86 287
Composites 103 101 366 407
Q4 FY24 Q4 FY25 FY24 FY25
EBITDA
margins (%)
15.8% 15.4% 15.6% 15.0%
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Human Protection

• Volume growth accompanied by dilution of business/product mix in the earlier part of the FY25

Industrials:

• Healthy volumes across all product categories ensured asset utilization, margins and returns

Composites:

• Revenue growth powered by strong volume growth as key accounts continued to scale-up especially in Cooling Towers business

• Glass fabrics volumes remained soft, as demand in European Wind segment slowed down

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Outlook for FY26

Outlook for FY26

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• The global macro and geopolitical environment is quite uncertain and marked by increasing volatility while offering clear opportunities. A potential bilateral treaty with the US could further benefit the Indian textile sector.

• Demand for garments and fabrics continue to remain strong.

• Positive signals from key US customers to increase business.

• UK FTA provides an alternative geography for expansion.

• On cost front, Cotton price entered a stable price regime and continues to be range bound, currently all leading indicators also suggests towards a stable price system going forward.

• Margins may be under pressure as some of the tariff increase is being absorbed in the sales price, However measures are being taken to protect margin through additional volumes & cost optimization.

• Capacity addition through capex will continue. All non-critical and discretionary capex are paused till clarity emerges on tariff front.

• Given the prevailing uncertainty, it's premature to provide FY26 guidance, as the business environment remains hard to predict; however, the long-term strategy stays on course.

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Thank You!