Arvind Ltd

About [ edit ]

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. #

Key Points [ edit ]
  • Market Cap 1,907 Cr.
  • Current Price 73.6
  • High / Low 84.5 / 19.9
  • Stock P/E
  • Book Value 102
  • Dividend Yield 0.00 %
  • ROCE 8.80 %
  • ROE 3.50 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.72 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -1.26% over past five years.
  • Company has a low return on equity of 6.91% for last 3 years.
  • Dividend payout has been low at 14.31% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
1,843 1,810 1,793 1,680 1,859 1,896 1,962 1,869 1,642 599 1,305 1,514
1,690 1,624 1,611 1,531 1,676 1,742 1,767 1,685 1,485 628 1,184 1,352
Operating Profit 152 186 182 149 184 154 195 184 157 -29 121 162
OPM % 8% 10% 10% 9% 10% 8% 10% 10% 10% -5% 9% 11%
Other Income 93 7 14 7 16 15 17 12 -38 4 -9 12
Interest 48 50 53 56 61 62 61 62 52 59 60 54
Depreciation 61 55 59 58 63 66 73 74 77 72 73 72
Profit before tax 137 88 85 42 75 41 78 60 -11 -156 -20 48
Tax % 15% 32% 28% 4% 11% 40% 37% 41% -57% 38% 70% 53%
Net Profit 115 60 60 40 64 24 48 36 -12 -95 1 25
EPS in Rs 4.47 2.31 2.31 1.55 2.48 0.93 1.86 1.38 -0.48 -3.68 0.03 0.96

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
2,745 3,261 4,085 4,925 5,293 6,862 7,851 8,011 9,221 6,794 7,142 7,369 5,060
2,447 2,851 3,555 4,323 4,605 5,935 6,837 7,045 8,264 6,134 6,430 6,664 4,648
Operating Profit 298 410 530 602 687 927 1,014 966 957 660 712 705 411
OPM % 11% 13% 13% 12% 13% 14% 13% 12% 10% 10% 10% 10% 8%
Other Income 80 44 55 364 81 60 61 97 69 140 49 8 -31
Interest 321 234 236 309 315 354 417 383 312 192 236 255 226
Depreciation 161 173 172 161 204 225 212 239 294 222 235 290 294
Profit before tax -103 47 176 495 248 407 445 441 420 385 290 168 -139
Tax % -6% -13% 6% 12% 0% 13% 24% 28% 24% 18% 21% 45%
Net Profit -99 50 165 436 248 354 341 314 315 309 226 96 -82
EPS in Rs -4.54 2.15 6.48 17.12 9.63 13.71 13.21 12.17 12.18 11.97 8.75 3.70 -3.17
Dividend Payout % -0% -0% -0% 6% 17% 17% 19% 20% 20% 20% 23% -0%
Compounded Sales Growth
10 Years:8%
5 Years:-1%
3 Years:-7%
TTM:-33%
Compounded Profit Growth
10 Years:8%
5 Years:-22%
3 Years:-34%
TTM:-137%
Stock Price CAGR
10 Years:12%
5 Years:-5%
3 Years:-19%
1 Year:235%
Return on Equity
10 Years:10%
5 Years:8%
3 Years:7%
Last Year:4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
239 232 254 258 258 258 258 258 258 259 259 259 259
Reserves 806 1,043 1,440 1,774 1,996 2,325 2,466 2,388 3,306 3,524 2,492 2,450 2,371
Borrowings 2,310 2,202 2,210 2,128 2,461 2,992 3,397 3,819 2,926 3,323 2,700 2,640 2,253
651 732 1,099 1,253 1,519 1,788 1,855 1,659 2,034 3,082 1,872 1,790 1,730
Total Liabilities 3,986 4,209 5,004 5,409 6,233 7,363 7,976 8,125 8,525 10,188 7,322 7,138 6,612
2,388 2,431 2,511 2,593 2,694 2,893 3,208 3,357 3,672 3,962 3,421 3,835 3,728
CWIP 86 58 90 192 208 135 100 147 96 116 262 113 86
Investments 8 44 61 42 68 129 59 544 277 76 78 90 81
1,504 1,677 2,343 2,583 3,263 4,207 4,609 4,077 4,481 6,033 3,561 3,100 2,717
Total Assets 3,986 4,209 5,004 5,409 6,233 7,363 7,976 8,125 8,525 10,188 7,322 7,138 6,612

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
329 458 197 335 490 388 558 650 551 428 2,358 860
-64 -127 -101 33 -331 -573 -587 -503 66 -353 -1,306 -306
-249 -310 -106 -362 -39 147 -48 -151 -621 -55 -1,019 -575
Net Cash Flow 16 20 -10 7 121 -38 -77 -3 -4 20 33 -20

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 5% 8% 10% 12% 12% 15% 15% 13% 12% 9% 9% 9%
Debtor Days 37 48 45 48 52 54 54 35 31 95 46 52
Inventory Turnover 1.88 2.24 2.16 2.25 2.09 2.34 2.29 2.10 2.18 1.59 1.96 2.92

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
42.92 42.98 43.10 43.10 43.08 44.09 44.75 44.75 44.75 44.72 45.05 45.05
21.92 21.63 20.84 20.07 20.87 20.49 15.76 15.80 14.07 12.57 13.06 15.24
18.57 16.71 13.17 15.12 14.08 12.82 13.72 12.40 9.57 6.38 6.37 6.38
16.59 18.68 22.88 21.71 21.97 22.60 25.77 27.05 31.61 36.33 35.51 33.33

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