Arvind Limited ended FY23 with a full year results that were steady in a volatile market. For Q4, Arvind posted revenues of ₹1881 crores and EBITDA of ₹191 crores, helping close the year at ₹8382 crores revenues and ₹800 crores EBITDA.
In the Textile segment, Woven volumes grew while Denim and Garment volumes remained soft. Price realisation increased during the initial part of the year, peaked in 2nd quarter and started declining in tandem with pattern of cotton and other input RM prices.
Advanced Materials continued its growth trajectory and delivered a 22% higher top-line compared to last year, and also delivered an improved margin. AMD is expected to grow at 20-25% for next 3-4 years, with exports constituting almost 75% of the business, US being the largest destination. While the business environment is still cautious, Arvind remains optimistic about its key businesses and has laid out an investment plan of about Rs 600 crores to augment capacities and deepen its sustainability credentials.
The company is planning to invest over the next two years (FY24 and FY25) to grow its AMD and Garments businesses. The first set of projects are already underway and making good progress