Arvind Ltd

Arvind Ltd

₹ 377 0.68%
16 Jul 11:16 a.m.
About

Arvind Limited (‘the Company’) is one of India’s leading vertically integrated textile company with the presence of almost eight decades in this industry. It is among the largest denim manufacturers in the world. It also manufactures a range of cotton shirting, denim, knits and bottom weights (Khakis) fabrics and Jeans and Shirts Garments. [1]

Key Points

Leading Denim Manufacturer[1]
Arvind is a leading manufacturer of denim and woven fabrics, with capacities of 100 million meters per annum (MMPA) and 150 MMPA, respectively, as of March 31, 2023. The company also produces cotton shirting, knits, Khakis, and technical textiles.

  • Market Cap 9,870 Cr.
  • Current Price 377
  • High / Low 404 / 125
  • Stock P/E 30.7
  • Book Value 133
  • Dividend Yield 0.99 %
  • ROCE 12.8 %
  • ROE 9.50 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 28.1%

Cons

  • Stock is trading at 2.82 times its book value
  • Company has a low return on equity of 8.25% over last 3 years.
  • Promoter holding has decreased over last 3 years: -3.91%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Textiles Industry: Textiles - Cotton/Blended

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,494 1,335 1,981 2,124 1,995 2,175 1,995 1,846 1,707 1,689 1,757 1,754 1,900
1,288 1,219 1,759 1,906 1,787 1,985 1,821 1,678 1,541 1,535 1,578 1,558 1,693
Operating Profit 206 116 223 218 208 189 173 168 166 154 179 196 207
OPM % 14% 9% 11% 10% 10% 9% 9% 9% 10% 9% 10% 11% 11%
-1 -8 -3 -1 -178 94 -22 18 -16 17 15 10 -11
Interest 48 45 46 38 38 38 40 40 36 34 37 36 43
Depreciation 58 50 51 51 51 51 51 52 54 54 56 51 52
Profit before tax 99 13 123 129 -59 194 60 94 59 82 102 119 100
Tax % 47% 86% 39% 38% -63% 10% 33% 14% 18% 22% 24% 24% 28%
52 2 75 79 -97 176 40 81 49 64 78 91 72
EPS in Rs 2.02 0.07 2.88 3.05 -3.71 6.74 1.53 3.12 1.87 2.45 2.99 3.47 2.75
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,780 4,775 5,225 5,357 5,967 6,332 6,436 6,705 4,529 7,436 7,723 7,100
3,194 3,980 4,380 4,549 5,234 5,694 5,803 5,997 4,051 6,646 7,003 6,334
Operating Profit 587 796 845 808 732 639 633 708 477 790 720 767
OPM % 16% 17% 16% 15% 12% 10% 10% 11% 11% 11% 9% 11%
93 67 96 103 -177 52 33 21 38 -197 74 30
Interest 268 296 338 310 239 189 227 239 222 185 177 180
Depreciation 150 158 126 149 182 201 210 241 236 203 208 213
Profit before tax 261 409 478 451 135 299 229 250 56 205 408 404
Tax % 0% 12% 21% 29% 86% 16% 13% 31% -65% 71% 15% 25%
261 361 377 321 19 250 199 171 93 59 346 305
EPS in Rs 10.12 14.00 14.62 12.42 0.72 9.67 7.71 6.62 3.58 2.28 13.23 11.65
Dividend Payout % 16% 17% 17% 19% 334% 25% 26% 0% 0% 0% 43% 41%
Compounded Sales Growth
10 Years: 4%
5 Years: 2%
3 Years: 16%
TTM: -8%
Compounded Profit Growth
10 Years: -1%
5 Years: 6%
3 Years: 43%
TTM: 0%
Stock Price CAGR
10 Years: 17%
5 Years: 44%
3 Years: 51%
1 Year: 172%
Return on Equity
10 Years: 8%
5 Years: 7%
3 Years: 8%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 258 258 258 258 258 259 259 259 259 261 262 262
Reserves 2,041 2,378 2,587 2,728 2,753 2,900 2,558 2,595 2,682 2,751 3,035 3,215
2,119 2,417 2,750 3,123 2,428 2,562 2,652 2,431 1,985 1,783 1,420 1,320
865 981 1,057 880 1,018 1,324 1,546 1,530 1,682 2,619 1,681 1,932
Total Liabilities 5,284 6,034 6,652 6,990 6,458 7,044 7,014 6,815 6,609 7,413 6,398 6,729
2,340 2,496 2,620 2,830 3,100 3,148 3,172 3,461 3,258 3,226 3,177 3,197
CWIP 200 72 76 98 77 60 190 71 74 42 78 91
Investments 493 700 885 1,266 523 883 517 525 532 452 387 344
2,251 2,765 3,071 2,796 2,759 2,953 3,135 2,758 2,745 3,694 2,756 3,098
Total Assets 5,284 6,034 6,652 6,990 6,458 7,044 7,014 6,815 6,609 7,413 6,398 6,729

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
431 495 711 705 536 554 725 983 768 520 563 631
-341 -488 -732 -545 465 -441 -510 -337 -138 -115 -59 -198
24 -47 -62 -163 -1,012 -108 -200 -650 -641 -377 -511 -433
Net Cash Flow 114 -40 -82 -3 -12 5 16 -4 -11 28 -7 1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 43 40 32 31 29 42 41 49 75 52 40 49
Inventory Days 205 163 174 194 186 162 167 110 166 193 129 184
Days Payable 156 124 121 108 88 118 146 119 220 204 96 134
Cash Conversion Cycle 93 79 86 117 127 87 61 40 21 42 74 99
Working Capital Days 84 93 99 110 104 90 80 52 77 55 52 59
ROCE % 12% 15% 15% 13% 11% 9% 9% 10% 6% 13% 12% 13%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
42.61% 42.59% 41.31% 41.30% 41.26% 41.26% 41.26% 41.16% 41.16% 41.14% 41.14% 41.13%
15.22% 12.00% 12.29% 11.73% 11.42% 12.05% 11.14% 9.63% 10.74% 10.56% 12.63% 15.15%
6.21% 8.71% 11.04% 12.06% 11.14% 9.85% 9.07% 8.58% 11.41% 13.10% 14.23% 14.80%
35.96% 36.70% 35.37% 34.90% 36.18% 36.84% 38.53% 40.63% 36.70% 35.20% 31.97% 28.92%
No. of Shareholders 1,99,8322,04,2652,02,1502,03,3102,08,6922,12,9312,18,2162,15,7861,96,8262,05,4582,03,5921,99,280

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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