Arvind Fashions reports a strong operational performance in Q4 FY22

Arvind Fashions Limited (AFL), India's leading casual and denim player, has declared its financial results for the fourth quarter and the fiscal year ended March 31, 2022.

Key Highlights for Q4 FY22

- Q4 FY22 revenues grew by 34% to Rs. 917 Crs compared to Q4 FY21. This was led by a strong bounce back in demand and strong footfalls, reflected in 20% LTL growth in Feb-Mar'22 after the impact of Covid 3rd wave in Jan'22. It was further aided by growth in other channels including online and departmentstores. Revenue growth was 59%, compared to pre-COVID levels(Q4 FY20)

- Power brands revenues grew by 32% with USPA and Tommy Hilfiger continuing to clock doubledigit EBITDA margins (pre-IndAS)

- Robust sales growth resulted in an EBITDA of Rs. 94 Crs; growth of 36% Y-o-Y (adjusted for rent concessions in Q4 FY21)

- Online channel achieved the significant milestone of ~1000 Crs in revenues in FY22; profitably grew by 20%+ in Q4 and 50%+ for the full year

- Net debt stood at ~Rs. 400 Crs; lower by >50% compared to Mar'21

Commenting on the performance of the company, Mr. Shailesh Chaturvedi, MD & CEO said "FY22 has indeed been an important year for the company having achieved various milestones with refreshed brand identities, sharp retail execution, significant expansion of our store network backed by omnicapabilities, leadership in the online channel with 1000 Crs revenues and a stronger balance sheet. Performance in H2 FY22 with revenues of 1925 Crs and EBITDA of 200 Crs reflects great affinity of our brands amongst the consumers and resilience of business model to overcome the initial impact of the Covid 3rd wave in Jan'22. This momentum sets us up strongly for FY23 to capture the large opportunities in branded & apparel industry, thereby delivering accelerated profitable growth going ahead."

Shares of Arvind Fashions Limited was last trading in BSE at Rs. 237.55 as compared to the previous close of Rs. 232.05. The total number of shares traded during the day was 80212 in over 2221 trades.

The stock hit an intraday high of Rs. 249.75 and intraday low of 233.65. The net turnover during the day was Rs. 19281196.00.

Source : Equity Bulls

Keywords

ArvindFashions INE955V01021 Q4FY22 FY2022 ResultUpdate