Arvind Ltd
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]
- Market Cap ₹ 3,109 Cr.
- Current Price ₹ 119
- High / Low ₹ 124 / 77.7
- Stock P/E 8.56
- Book Value ₹ 128
- Dividend Yield 0.00 %
- ROCE 12.2 %
- ROE 11.5 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.93 times its book value
- Debtor days have improved from 57.0 to 42.1 days.
Cons
- The company has delivered a poor sales growth of 4.29% over past five years.
- Company has a low return on equity of 6.91% over last 3 years.
- Contingent liabilities of Rs.2,156 Cr.
- Promoter holding has decreased over last 3 years: -3.59%
* 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
4,925 | 5,293 | 6,862 | 7,851 | 8,011 | 9,221 | 6,794 | 7,142 | 7,369 | 5,073 | 8,034 | 8,382 | |
4,321 | 4,605 | 5,927 | 6,816 | 7,037 | 8,261 | 6,103 | 6,419 | 6,661 | 4,595 | 7,223 | 7,582 | |
Operating Profit | 604 | 687 | 935 | 1,036 | 974 | 960 | 691 | 723 | 708 | 478 | 811 | 800 |
OPM % | 12% | 13% | 14% | 13% | 12% | 10% | 10% | 10% | 10% | 9% | 10% | 10% |
362 | 81 | 52 | 39 | 89 | 66 | 109 | 39 | 5 | 15 | 36 | 101 | |
Interest | 309 | 315 | 354 | 417 | 383 | 312 | 192 | 236 | 255 | 239 | 197 | 164 |
Depreciation | 161 | 204 | 225 | 212 | 239 | 294 | 222 | 235 | 290 | 285 | 272 | 253 |
Profit before tax | 495 | 248 | 407 | 445 | 441 | 420 | 385 | 290 | 168 | -31 | 378 | 484 |
Tax % | 12% | 0% | 13% | 24% | 28% | 24% | 18% | 21% | 45% | 11% | 36% | 15% |
Net Profit | 436 | 248 | 353 | 338 | 316 | 321 | 316 | 228 | 92 | -27 | 242 | 413 |
EPS in Rs | 17.12 | 9.63 | 13.71 | 13.21 | 12.17 | 12.18 | 11.97 | 8.75 | 3.70 | -0.64 | 9.14 | 15.47 |
Dividend Payout % | 6% | 17% | 17% | 19% | 20% | 20% | 20% | 23% | 0% | 0% | 0% | 37% |
Compounded Sales Growth | |
---|---|
10 Years: | 5% |
5 Years: | 4% |
3 Years: | 4% |
TTM: | 4% |
Compounded Profit Growth | |
---|---|
10 Years: | 5% |
5 Years: | 2% |
3 Years: | 43% |
TTM: | 49% |
Stock Price CAGR | |
---|---|
10 Years: | 16% |
5 Years: | -2% |
3 Years: | 68% |
1 Year: | 18% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 7% |
3 Years: | 7% |
Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
258 | 258 | 258 | 258 | 258 | 258 | 259 | 259 | 259 | 259 | 261 | 262 | |
Reserves | 1,774 | 1,996 | 2,325 | 2,466 | 2,388 | 3,309 | 3,524 | 2,492 | 2,450 | 2,460 | 2,690 | 3,084 |
2,128 | 2,461 | 2,992 | 3,397 | 3,819 | 2,926 | 3,323 | 2,700 | 2,640 | 2,121 | 1,865 | 1,517 | |
1,253 | 1,519 | 1,788 | 1,855 | 1,659 | 2,032 | 3,082 | 1,872 | 1,790 | 1,872 | 2,881 | 2,051 | |
Total Liabilities | 5,409 | 6,233 | 7,363 | 7,976 | 8,125 | 8,525 | 10,188 | 7,322 | 7,138 | 6,713 | 7,697 | 6,914 |
2,593 | 2,694 | 2,893 | 3,208 | 3,357 | 3,672 | 3,962 | 3,421 | 3,835 | 3,590 | 3,481 | 3,428 | |
CWIP | 192 | 208 | 135 | 100 | 147 | 96 | 116 | 262 | 113 | 78 | 46 | 79 |
Investments | 42 | 68 | 129 | 59 | 544 | 277 | 76 | 78 | 90 | 70 | 66 | 211 |
2,583 | 3,263 | 4,207 | 4,609 | 4,077 | 4,481 | 6,033 | 3,561 | 3,100 | 2,974 | 4,104 | 3,196 | |
Total Assets | 5,409 | 6,233 | 7,363 | 7,976 | 8,125 | 8,525 | 10,188 | 7,322 | 7,138 | 6,713 | 7,697 | 6,914 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
335 | 490 | 388 | 558 | 650 | 551 | 428 | 2,358 | 860 | 776 | 595 | 666 | |
33 | -331 | -573 | -587 | -503 | 66 | -353 | -1,306 | -306 | -81 | -121 | -135 | |
-362 | -39 | 147 | -48 | -151 | -621 | -55 | -1,019 | -575 | -717 | -439 | -534 | |
Net Cash Flow | 7 | 121 | -38 | -77 | -3 | -4 | 20 | 33 | -20 | -22 | 34 | -3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 48 | 52 | 54 | 54 | 35 | 31 | 95 | 46 | 52 | 79 | 50 | 42 |
Inventory Days | 179 | 232 | 190 | 193 | 202 | 207 | 258 | 179 | 125 | 168 | 196 | 135 |
Days Payable | 147 | 180 | 146 | 141 | 128 | 124 | 247 | 152 | 123 | 203 | 193 | 101 |
Cash Conversion Cycle | 79 | 104 | 98 | 106 | 109 | 114 | 106 | 73 | 54 | 44 | 53 | 76 |
Working Capital Days | 66 | 71 | 85 | 88 | 81 | 84 | 141 | 77 | 49 | 76 | 61 | 54 |
ROCE % | 12% | 12% | 15% | 15% | 13% | 12% | 9% | 9% | 9% | 5% | 12% | 12% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
26 May - Senior management of the company is attending investor meeting on 13th Annual Institutional Investor Conference - TRINITY INDIA 2023 to be held on 31st May …
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Compliances-Reg.24(A)-Annual Secretarial Compliance
25 May - Annual Secretarial Compliance Report for the financial year ended on 31st March 2023 is enclosed.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
24 May - Copy of the newspaper advertisement published in The Financial Express on 24th May 2023 regarding transfer of equity shares of the Company to Investor Education …
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
22 May - Link of transcript of post results conference call with Analysts / Investors held on 18th May 2023 to discuss the financial performance of the Company …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
18 May - Link of audio recording of post results conference call with Analysts / Investors held on 18th May, 2023 to discuss the financial performance of the …
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Concalls
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May 2023TranscriptNotesPPT
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Jan 2023Transcript PPT
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Nov 2022TranscriptNotesPPT
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Aug 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Jan 2022Transcript PPT
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Oct 2021Transcript PPT
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Aug 2021Transcript PPT
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May 2021TranscriptNotesPPT
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Mar 2021TranscriptPPT
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Feb 2021Transcript PPT
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Feb 2021TranscriptNotesPPT
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Oct 2020TranscriptPPT
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Aug 2020TranscriptPPT
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Jun 2020TranscriptPPT
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Jan 2020Transcript PPT
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Oct 2019Transcript PPT
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Aug 2019Transcript PPT
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May 2019Transcript PPT
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Feb 2019Transcript PPT
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Nov 2018Transcript PPT
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Aug 2018TranscriptNotesPPT
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May 2018TranscriptPPT
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Jan 2018TranscriptPPT
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Aug 2017TranscriptPPT
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May 2017TranscriptPPT
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Oct 2016TranscriptNotesPPT
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Aug 2016TranscriptPPT
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May 2016TranscriptPPT
Business Segments
Textiles Business (84% of revenues) [1]
The Co. is involved in manufacturing and production of Denims, Wovens and Garments, which for Q2 FY23 contribute 22%, 39% and 24% towards the segment's revenues [2].
Arvind has vertically-integrated operations across the textile value chain starting from manufacturing of cotton yarn to grey/processed fabric to garments, which imparts strong operational flexibility [3]. It is amongst the largest denim and woven fabric manufacturers, with an installed capacity of 100 MMPA and 150 MMPA, respectively, as on March 31, 2022. [4]