NSE: ARVIND · BSE: 500101
ARVIND LIMITED
Operates a textiles-led business reporting through three segments. Textiles contributed Rs 7,147.77 crore of segment revenue, or 73.4% of segment revenue, in FY26, with Advanced Materials at Rs 1,838.5 crore (18.9%) and Others at Rs 753.58 crore (7.7%). Subsidiaries include Arvind Atelier FZC in the UAE and the newly acquired Arvind Atelier UK Limited, both focused on garments and textile-garmenting for the UK and international markets. A postal-ballot amendment to the Memorandum of Association expanded the company's permitted business scope to include IT-enabled services, digital transformation, data analytics, business process management and software development in India and abroad. Materials are the largest cost at 46.2% of revenue, followed by employees at 12.9% and other operating expenses at 28.0%, with the FY26 EBITDA margin at 11.2% and capex at 5.5% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textiles (73%), Advanced Materials (19%), Others (8%). Materials- and capital-intensive textile, advanced-materials and apparel manufacturer diversifying into IT-enabled and business process services
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 8,034 | 8,382 | 7,738 | 8,329 | 9,303 |
| EBITDA (ex other income) | 775 | 859 | 848 | 853 | 987 |
| margin % | 9.6 | 10.2 | 11.0 | 10.2 | 10.6 |
| Owners' profit | 238 | 405 | 337 | 353 | 414 |
| EPS, as reported (₹) | 9.17 | 15.51 | 12.87 | 13.51 | 15.80 |
| ROE % · ROCE % | 8.0 · 13.6 | 12.1 · 16.0 | 9.7 · 15.0 | 9.5 · 14.4 | 10.3 · 15.2 |
| Debt / equity (x) | 0.59 | 0.41 | 0.37 | 0.36 | 0.35 |
| Cash from operations | 595 | 666 | 696 | 763 | 867 |
| Capex | (185) | (204) | (278) | (535) | (509) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,188 | 2,089 | 2,221 | 2,006 | 2,371 | 2,373 | 2,553 | 2,501 |
| Profit before tax | 135 | 146 | 159 | 76 | 149 | 149 | 215 | 88 |
| Net profit | 63 | 106 | 155 | 55 | 107 | 101 | 165 | 58 |
| EPS (₹) | 2.28 | 3.96 | 5.77 | 2.03 | 3.95 | 3.72 | 6.10 | 2.04 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Textiles | 7,148 | 73.4 |
| Advanced Materials | 1,839 | 18.9 |
| Others | 754 | 7.7 |
| Total, before eliminations | 9,740 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 37,812 | 50.0 | 25.16 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED ◆ | 13,369 | 32.3 | 3.23 | 14.1 | 10.3 | 11.9 | 12.9 | 9.4 |
| PEARL GLOBAL IND LIMITED | 5,588 | 18.0 | 3.89 | 11.2 | 18.8 | 16.8 | 27.5 | 11.2 |
| GOKALDAS EXPORTS LTD. | 4,744 | 46.0 | 2.20 | 12.9 | 4.6 | 6.0 | 26.9 | 12.1 |
| LUX INDUSTRIES LIMITED | 3,496 | 32.8 | 1.92 | 19.4 | 5.8 | 7.3 | 8.4 | 8.2 |
| SBC EXPORTS LIMITED | 3,114 | 76.9 | 38.83 | 70.5 | 31.5 | 28.3 | — | 13.9 |
| KEWAL KIRAN CLOTHING LTD | 2,631 | 17.8 | 2.35 | 9.6 | 13.6 | 16.6 | 32.0 | 24.0 |
| KITEX GARMENTS LTD | 2,250 | — | 1.82 | 34.0 | (1.1) | 0.3 | 7.9 | 11.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 32.3 | 16.2 | 26 of 37 | 31% |
| P/B | 3.2 | 1.5 | 28 of 35 | 21% |
| ROCE | 11.9 | 8.4 | 17 of 44 | 63% |
| ROE | 10.3 | 5.8 | 14 of 35 | 62% |
| Debt / Equity | 0.3 | 0.3 | 21 of 35 | 41% |
| EBITDA margin | 9.4 | 10.4 | 19 of 35 | 47% |
| Revenue growth | 24.6 | 7.9 | 10 of 37 | 75% |
| Profit growth | 5.6 | 6.8 | 20 of 37 | 47% |
| Market cap | 13369 | 146 | 2 of 44 | 98% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Post-results conference call audio recording shared | investor communications | low | — | — |
| 28 Oct 2026 · No deviation in use of Rs 500 crore QIP proceeds | compliance | minimal | — | — |
| 28 Oct 2026 · Arvind deploys nearly all Rs 500 crore QIP proceeds | fund raising | low | — | — |
| 28 Oct 2026 · Q2 FY27 record revenue and EBITDA, with textile margin pressure | investor communications | medium | — | — |
| 28 Oct 2026 · Q2 FY27 revenue and EBITDA hit record highs; PAT rises 16% | compliance | low | — | — |
| 28 Oct 2026 · Arvind Q2 revenue rises 23% to record Rs 2,919 crore; EBITDA up 27% | results | high | — | — |
| 28 Oct 2026 · Q2 FY27 record revenue and EBITDA; H1 PAT rises 26% | results | high | — | — |
| 25 Oct 2026 · Prime Minister inaugurates Arvind garment plant in Varanasi | compliance | low | — | — |
| 21 Oct 2026 · Arvind schedules post-results call for October 28 | board shareholder meetings | low | — | — |
| 19 Oct 2026 · Arvind board meeting on Oct 28 to consider Q2 FY27 results | results | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.