Textiles company Arvind announced Q1FY24 results:
- Q1FY24 revenues is at Rs 1,853 crore and EBIDTA is at 180 crore.
- Profit after Tax is at Rs 65 crore.
- Fabric Volume stood at 42 million metre and Garment volume at 7.4 million pcs.
- AMD revenue grew at 22.4% on a YoY basis.
- Overall EBITDA Margin improves by 30 bps on a YoY basis to 9.7%.
- AMD segment margin improves by 400 bps on a YoY basis aided by volume growth.
- Long-term debt reduced by 19% (Rs 123 crore) during Q1FY24.
- Arvind Limited closed Q1FY24 at a net debt of Rs 1,301 crore.
- We are on track with our capex guidance of Rs 600 crore over 2 years.
- During Q1FY24, Arvind’s 24MW hybrid wind-solar project went live, which took Arvind’s total share of renewable energy consumption to 47%.