Investor Presentation for the fourth quarter and year end March 31 2026
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Varvee Global (formerly Aarvee Denims) delivered a strong turnaround in FY26 with revenue up 47.9% YoY to ₹628 million, driven by a strategic pivot from denim to higher-margin non-denim shirting and suiting fabrics. Gross margin expanded to 65.1% from -1.03% in FY25. Full-year EBITDA turned positive at ₹53.66 million versus a loss of ₹899 million previously. Bank debt was fully repaid by June 2025, reducing borrowings by ~97% YoY. New CMD Jaimin Kailash Gupta took control in July 2025, implementing loom upgrades and a new ERP system. Non-denim capacity was scaled 50% to 18 lakh metres per month with a target of 50 lakh metres per month. India Ratings assigned an IND BB/Positive rating in January 2026. The company is targeting profitable growth and better capacity utilisation in FY27.
This is a restructuring turnaround success story — a loss-making, debt-burdened textile company has turned EBITDA-positive and debt-free in under 12 months under new management, with a credible plan to shift into higher-margin products. The debt-free balance sheet and expanding gross margins are positive signals for shareholders, though Q4 still showed a PAT loss of ₹285.92 million.