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Arvind’s revenue up 19 per cent

Arvind’s consolidated revenue grew 19 per cent for the quarter ended September 30, 2016. Consolidated EBIDTA was up two per cent against the corresponding quarter of the previous year. Profit after tax before exceptional items grew by 20 per cent. Profit after tax after exceptional items was Rs 72 crores.

The group’s textile business recorded nine per cent revenue growth. The brands business grew by 33 per cent. Arvind’s brand portfolio is among the strongest in India and has many power brands that have grown at a phenomenal pace. The turnover was Rs 2,300 crores for 2015-16 and is one of the fastest growing businesses in the country with a CAGR of 25 per cent for the past three years. The portfolio includes global marquee brands such as Calvin Klein, Tommy Hilfiger, US Polo Assn., Ed Hardy, Hanes, Arrow, Gant and Nautica, among others.

The company is confident of continuing the growth momentum and taking the business from over Rs 3,200 crores this year to Rs 9,000 crores by 2022. Meanwhile Arvind will dilute 10 per cent stake in its brand business arm and in doing so raise about Rs 740 crores. The entire stake will be picked up by Multiples, a private equity firm.