Arvind Limited, one of largest textile companies in India also engaged in apparel retailing, has registered a 50 percent increase in revenue to Rs. 2276 cr in the third quarter of fiscal 2022 as compared to Rs. 1541 cr in the third quarter of fiscal 2021. For the third quarter of 2022, textile revenue jumped 57 per cent to a total of Rs. 1917 cr.
Volumes grew across all Textile segments as post-COVID demand stayed strong in both export and domestic markets. Cotton prices rose sharply, and other input costs continued to stay high, but were mostly offset by improved price realization and higher efficiencies, Arvind Limited said.
For the third quarter of fiscal 2022, the company registered EBITDA at Rs. 237 cr, PBT at Rs.142 cr and PAT at Rs.93 cr – all time high numbers. EBIDTA rose by 46 percent despite high cotton prices, other input prices and international logistics challenges. Surge in volumes were observed due to continued strength in the domestic market and sharp improvement in export demand, especially for wovens. Debt reduction of Rs.157 cr was registered during the quarter as planned.
In the fourth quarter, the company is expecting both export and domestic demand to continue staying strong. Markets around the world shrugging off COVID related worries, and demand expected to get fresh impetus as European states start coming out of pandemic lock-downs. Fourth quarter revenue and margins are likely to be similar to third quarter numbers. Strong demand side situation will help maintain robust volumes and price realisation. EBITDA will be healthy, though margins will look under pressure as top-line will be inflated.
