Arvind Limited Q1 results clearly indicate post-Covid recovery

Arvind Limited has declared its financial results for the first quarter of FY 2021.

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

Performance Highlights

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

Shares of ARVIND LTD. was last trading in BSE at Rs.33.4 as compared to the previous close of Rs. 35.55. The total number of shares traded during the day was 1674607 in over 3536 trades.

The stock hit an intraday high of Rs. 36.5 and intraday low of 33.15. The net turnover during the day was Rs. 57668403.

Source : Equity Bulls

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