Arvind, one of the largest integrated textile, apparel and
branded apparel players, has crossed annual revenue of Rs 4,000 crores during this year. Its Q4 consolidated net profit rose more than threefold to Rs 63 crores from Rs 20 crores one year ago. It attributed the growth to strong volume and price growth in textiles, brands and retail business. The company aims to achieve an annual turnover of Rs 8,000 crores by 2014-15.
Consolidated revenue for the three months up to March advanced by 59 per cent to Rs 1,201 crores from Rs 756 crores a year earlier. Earnings before interest, taxes, depreciation and amortization (EBITDA) jumped 84.5 per cent to Rs 179 crores. For the full year, the company logged 230 per cent growth in net profit at Rs 165 crores, compared to Rs 50 crores in 2009-10. Revenue rose 25 per cent to Rs 4,090 crores from Rs 3,261 crores, while EBITDA jumped 36 per cent to Rs 556 crores from Rs 410 crores. It has registered 218 per cent growth in consolidated net profit for the quarter ended March 31, 2011. It earned a consolidated net profit of Rs 63 crores as against Rs 20 crores in the corresponding quarter of previous year on account of strong volume and price growth recorded by the textile and brand and retail business.
Within textiles, denim grew by 29 per cent and woven fabrics grew by 20 per cent. The company board has approved the merger of Arvind Products Limited (APL), a listed firm, with the parent company. Arvind holds a 54 per cent stake in APL. APL manufactures cotton yarn, woven khaki fabrics and traditional voiles. Yarn and khaki units have significant linkages with the parent company, Arvind, hence, the proposed merger is expected to bring significant operational synergy.