Arvind Ltd

Arvind Ltd

₹ 370 0.61%
21 Jun - close price
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 9,689 Cr.
  • Current Price 370
  • High / Low 394 / 125
  • Stock P/E 28.9
  • Book Value 135
  • Dividend Yield 1.01 %
  • ROCE 12.4 %
  • ROE 9.72 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 24.7%

Cons

  • Stock is trading at 2.74 times its book value
  • Company has a low return on equity of 9.88% 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

Consolidated Figures in Rs. Crores / View Standalone

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
1,655 1,435 2,108 2,270 2,197 2,352 2,170 1,980 1,881 1,853 1,922 1,888 2,075
1,447 1,330 1,891 2,029 1,959 2,132 1,968 1,793 1,690 1,673 1,716 1,673 1,832
Operating Profit 208 105 217 241 238 220 202 186 191 180 206 216 243
OPM % 13% 7% 10% 11% 11% 9% 9% 9% 10% 10% 11% 11% 12%
8 7 13 9 -7 1 52 22 26 13 13 10 8
Interest 51 47 48 41 40 40 42 43 38 37 39 39 45
Depreciation 69 63 64 65 62 62 62 63 66 65 67 66 67
Profit before tax 97 1 119 145 128 119 150 102 113 92 113 120 138
Tax % 45% 1,120% 40% 35% 33% 15% 15% 15% 14% 24% 26% 21% 24%
53 -11 71 94 86 102 127 87 97 70 84 94 104
EPS in Rs 2.05 -0.32 2.69 3.56 3.18 3.77 4.79 3.22 3.71 2.52 3.06 3.51 3.79
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
5,293 6,862 7,851 8,011 9,221 6,794 7,142 7,369 5,073 8,010 8,382 7,738
4,605 5,927 6,816 7,037 8,261 6,103 6,419 6,661 4,595 7,180 7,554 6,893
Operating Profit 687 935 1,036 974 960 691 723 708 478 830 828 845
OPM % 13% 14% 13% 12% 10% 10% 10% 10% 9% 10% 10% 11%
81 52 39 89 66 109 39 5 15 13 100 43
Interest 315 354 417 383 312 192 236 255 239 197 192 159
Depreciation 204 225 212 239 294 222 235 290 285 254 253 266
Profit before tax 248 407 445 441 420 385 290 168 -31 393 484 463
Tax % 0% 13% 24% 28% 24% 18% 21% 45% 11% 38% 15% 24%
248 353 338 316 321 316 228 92 -27 242 413 353
EPS in Rs 9.63 13.71 13.21 12.17 12.18 11.97 8.75 3.70 -0.64 9.14 15.47 12.87
Dividend Payout % 17% 17% 19% 20% 20% 20% 23% 0% 0% 0% 37% 37%
Compounded Sales Growth
10 Years: 1%
5 Years: 2%
3 Years: 15%
TTM: -8%
Compounded Profit Growth
10 Years: -1%
5 Years: 6%
3 Years: 284%
TTM: -6%
Stock Price CAGR
10 Years: 17%
5 Years: 43%
3 Years: 66%
1 Year: 174%
Return on Equity
10 Years: 9%
5 Years: 7%
3 Years: 10%
Last Year: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 1,996 2,325 2,466 2,388 3,309 3,524 2,492 2,450 2,460 2,690 3,084 3,281
2,461 2,992 3,397 3,819 2,926 3,323 2,700 2,640 2,121 1,865 1,517 1,448
1,519 1,788 1,855 1,659 2,032 3,082 1,872 1,790 1,872 2,881 2,035 2,270
Total Liabilities 6,233 7,363 7,976 8,125 8,525 10,188 7,322 7,138 6,713 7,697 6,898 7,260
2,694 2,893 3,208 3,357 3,672 3,962 3,421 3,835 3,590 3,481 3,427 3,422
CWIP 208 135 100 147 96 116 262 113 78 46 80 117
Investments 68 129 59 544 277 76 78 90 70 66 211 167
3,263 4,207 4,609 4,077 4,481 6,033 3,561 3,100 2,974 4,104 3,180 3,555
Total Assets 6,233 7,363 7,976 8,125 8,525 10,188 7,322 7,138 6,713 7,697 6,898 7,260

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
490 388 558 650 551 428 2,358 860 776 595 666 696
-331 -573 -587 -503 66 -353 -1,306 -306 -81 -121 -135 -277
-39 147 -48 -151 -621 -55 -1,019 -575 -717 -439 -534 -419
Net Cash Flow 121 -38 -77 -3 -4 20 33 -20 -22 34 -3 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 52 54 54 35 31 95 46 52 79 51 42 50
Inventory Days 232 190 193 202 207 258 179 125 168 196 135 197
Days Payable 180 146 141 128 124 247 152 123 203 193 101 136
Cash Conversion Cycle 104 98 106 109 114 106 73 54 44 53 76 111
Working Capital Days 71 85 88 81 84 141 77 49 76 61 54 65
ROCE % 12% 15% 15% 13% 11% 8% 9% 9% 5% 13% 13%

Shareholding Pattern

Numbers in percentages

2 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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