Arvind Ltd. share price target

6 August 2018 Revenue increased 10% YoY to INR28.6b (est. of INR26b) in 1QFY19, led by Brands & Retail business (up 14% YoY to INR10.1b; INR890m unadjusted stated higher due to Ind-AS adjustment + one-time impact from agreement changes). Textiles business too grew by 2% YoY to INR15.6b. EBITDA grew 18% YoY to INR2.5b (est. of INR2.3b), with the margin expanding 50bp YoY to 8.6% (est. Adj. PAT increased 19% YoY to INR0.

ICICI Securities Ltd | Retail Equity Research Consolidated revenues for the quarter grew 21% YoY to | 2990.0 crore. Strong growth in the brand & retail segment, which grew 28% YoY to | 1071 crore, mainly due to inclusion of Tommy Hilfiger & Calvin Klein in consolidated results, accelerated growth The textiles segment reported decent revenue growth of 9.3% YoY to | 1596.4 crore. Growth in textiles was led by 14% increase in the woven segment to | 605 crore. Denim, garment segment reported...

Revenue rose by 10.4% to Rs. 2989.99 Cr in Q4FY18 when compared to the previous quarter. Arvind Ltd Q4FY18 results Comment

9% growth in textile: During Q4FY2018, Arvind Limited (Arvind) reported 21.3% y-o-y revenue growth to Rs. 2,990 crore. Revenue from the textile segment grew by 9.3% y-o-y to Rs. 1,596.4 crore mainly led by 13% volume growth in the garment segment and 14% revenue growth in the woven segment. Fabric volume also improved from 56 million metres to 60 million...

~12% in last 30 trading days (16% correction from its recent high) and is providing decent opportunity for investors to enter the stock. The company has planned to demerge its branded & retail (B&R;) business (~Rs. 2,900 crore revenue with OPM of 5% in FY2017) and engineering business (Rs. 179 crore revenue with OPM of 30% in FY2017) in to separate entities to unlock...

Q3FY18 revenue grew 16% YoY to Rs 27 bn on strong 24% YoY growth in Brands & Retail division, supported by 9% YoY growth in textiles segment. However, EBITDA margin declined 90 bps to 9% due to (1) reduction in duty drawbacks and other export incentives and (2) adverse currency movements.

Arvind Ltd Q3FY18 results comment Revenue grew by 2.94% to Rs. 2705.75 Cr in Q3FY18 when compared to the previous quarter. Also, it rose by 15.86% when compared with Q3FY17

ICICI Securities Ltd | Retail Equity Research Revenues for the quarter grew 16% YoY to | 2705.8 crore (I-direct estimate: | 2584.1 crore). Growth was accelerated by higher growth in the brand & retail segment, which grew 24% YoY (mainly due to...

Arvind Ltd Q2FY18 results comment Revenue grew by 6.2% to Rs. 2628.46 Cr in Q2FY18 when compared to the previous quarter. Also, it grew by 12.75% when compared with Q2FY17.

Revenue of ~Rs 100 bn each from Brands & Retail division (~23% CAGR) and Textiles (~10% CAGR) by FY22. Arvind today announced demerger of it Brands & Retail and Engineering divisions into separate companies