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Aarvee net loss of Rs 1.30 crore

Aarvee Denims & Exports reported net loss of Rs 1.30 crore in Q4 March 2017 as against net profit of Rs 3.35 crore in Q4 March 2016. One of its manufacturing units in Ahmedabad has been shut. A closure notice was issued by the Gujarat Pollution Control Board for safety and health concerns. The company plans to re-open the unit after taking remedial measures as directed by the pollution control board. However, Aarvee Denims and Exports’ net sales rose 16.8 per cent in the fourth quarter of March 2017 over the fourth quarter of March 2016.

Aarvee, which opened in 1988, is a leading global player in the textile industry. It is engaged in the manufacturing and selling of denim and non-denim fabrics and garments. It offers denim and non-denim fabrics in various colors such as regular indigo blue, dark indigo blue and sulfur bottom indigo top and in various types of structures, such as 1/1, 2/1, 3/1, broken twills and herringbone. It mainly produces and offers bottom wear jeans, casual trousers and jackets for men, women and children. Products include T-shirts, casual shirts, jeans and winter wear products.

The company has three manufacturing plants located in Ahmedabad. Its offerings include fabrics, garment and retail. Aarvee has a cotton spinning capacity of 34,000 tons per annum, texturizing capacity of 11,200 tons per annum, and fabric capacity of 85 million meters per annum.