Arvind Ltd’s Q1 profit drops 40% due to illegal worker unrest, impacting revenue by ₹200 crore.

Arvind Ltd Q1 Results: Net profit drops 40%

Leading textile manufacturer Arvind Ltd on Monday reported a 37.25 per cent decline in consolidated net profit at Rs 43.73 crore for the first quarter ended June 30, 2024, on account of workers’ strike and general elections.

Arvind Q1 results: Profit dips 37.25% to Rs 43.73 cr, revenue falls 1.2%

Arvind Ltd Q1 Results: Indian clothing retailer Arvind reported a 40% drop in first-quarter profit, with net profit falling to 393.1 million rupees. Revenue from operations dipped by 1%, and the core textile segment saw a 5% decline. Inflation and illegal workers’ unrest contributed to lower consumer spending. The company’s shares fell 2.8% post-results.

Arvind’s Q1 Results: Net profit drops 40% YoY as inflationary pressures weigh

The uptick in Arvind ltd share price came after the company announced that the strike at Santej plant by workers demanding wage hike has been called off

Arvind share price jumps 3% after workers call off strike at Santej plant

Textiles major Arvind Ltd will raise up to ₹200 crore through the non-convertible debentures (NCDs), the company informed on Thursday

Arvind Ltd gets board nod for ₹200-cr NCD issue

Given the uncertain economic environment, Arvind Ltd expects its overall revenue growth to be muted in the medium term, it said in a statement.

Arvind Ltd reports Q4FY23 revenue fall on weak demand | The Financial Express

Textile manufacturer Arvind Ltd on Wednesday reported an 11.62 per cent decline in consolidated net profit from continuing operations to Rs 87 crore in the third quarter ended December 31, 2022.

Textile maker Arvind Ltd profit declines 11.62% to Rs 87 cr in Oct-Dec

Shares of Arvind Ltd were trading at Rs 100 on BSE, up 8.28 per cent from the previous close

Arvind Ltd posts Rs 101.62 cr profit for April-June; net sales up 64%

The transaction will enable faster deliveries of shipments from the nearest store or warehouse, reducing delivery timelines and enhancing customer experience, Shiprocket said.

Shiprocket acquires Arvind Ltd’s Omuni for Rs 200 crore in cash and stock

Amidst the rising input costs and inflationary pressure, Arvind Ltd doesn't see any respite before September when the new cotton crop yields come. The textile industry has seen inflation costs surging over 10-percent while cotton prices have nearly doubled adding to the pressure. 
In an exclusive interaction with ET Now, Kulin Lalbhai, ED, Arvind Ltd said that the industry continues to pass on the costs to customers and hopes for some respite only after September this year. "Now the Trigger is the new cotton crop in September, we hope sanity to come back then," he adds.
However, he says that post the COVID-19 wave of Omicron variant, shoppers are back at physical stores. He expects a double digit growth in the industry owing to the lower base. He adds that Arvind Ltd is working on to scale the technical textile business for which they have also got approval under the government's PLI scheme.
#ArvindLimited #ETNow #TextileIndustry
Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3

Subscribe Now To Our Network Channels :-
Times Now  : http://goo.gl/U9ibPb
The NewsHour Debate : http://goo.gl/LfNgFF

To Stay Updated Download the Times Now App :-
Android Google Play :  https://goo.gl/zJhWjC
Apple App Store :  https://goo.gl/d7QBQZ

Social Media Links :-
Twitter - http://goo.gl/hA0vDt
Facebook - http://goo.gl/5Lr4mC
G+ - http://goo.gl/hYxrmj
Website - www.etnownews.com

'Amid Inflation, No Respite On New Cotton Yields Till Sep', Asserts Kulin Lalbhai, ED, Arvind Ltd

Ginni Filaments, Avgol India Pvt Ltd, Goa Glass Fibre Ltd, H P Cotton Textile Mills, Kimberly Clark India Pvt Ltd, Madura Industrial Textiles, MCPI Pvt Ltd, Shahi Exports, Trident Ltd, Donear Industries, Gokaldas Exports, and Arvind Ltd are among the companies which had applied for the ₹10,683 crore…

Textiles PLI scheme: Nod for 61 proposals to bring in ₹19,077 crore

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Arvind Limited is a textile company. The Company's principal products/services are finished fabrics and garments.

Arvind Ltd