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Indian firm Arvind Fashions' revenue surges 5% in FY24

23 May '24

2 min read

Indian firm Arvind Fashions' revenue surges 5% in FY24

Pic: Arvind Fashions

Insights

Arvind Fashions Limited reported FY24 revenue of ₹42.59 billion (~$511.3 million), up 5 per cent from FY23.
The company's EBITDA rose 15 per cent to ₹5.44 billion.
PBT increased 14 per cent to ₹1.7 billion, but PAT fell 5 per cent to ₹560 million.
In Q4 FY24, revenue grew 4 per cent to ₹10.94 billion.
EBITDA rose 17 per cent to ₹1.48 billion.

India’s Arvind Fashions Limited, a leading lifestyle company that is home to renowned brands like US Polo, has reported revenue of ₹42.59 billion (approximately $511.3 million) in fiscal 2024 (FY24), a 5 per cent increase from FY23. EBITDA also saw a significant rise, reaching ₹5.44 billion, up 15 per cent compared to the previous year. Profit before tax (PBT) stood at ₹1.7 billion, marking a 14 per cent increase. However, profit after tax (PAT) declined by 5 per cent to ₹560 million.

In the fourth quarter of fiscal 2024 (Q4 FY24), Arvind Fashions Limited achieved several milestones. Revenues grew by 4 per cent to ₹10.94 billion, compared to ₹10.55 billion in Q4 FY23, with a two-year revenue compound annual growth rate (CAGR) of 15 per cent. This growth was supported by a healthy 4 per cent like-to-like (LTL) increase. EBITDA for the quarter grew by 17 per cent to ₹1.48 billion, up from ₹1.27 billion in Q4 FY23. The EBITDA margin improved by 150 basis points (bps) to 13.5 per cent, despite a year-on-year (YoY) increase in advertising investment by approximately 100 bps, the company said in a press release.

Profit after tax (PAT) from continuing business stood at ₹250 million in Q4 FY24, reflecting a 72 per cent YoY growth. The reported PAT surged by 123 per cent to ₹240 million, compared to ₹110 million in Q4 FY23.

“FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite market environment staying subdued. Our continued focus on retail excellence resulted in healthy 4 per cent LTL growth leading to 120 bps improvement in EBITDA margin for the full year,” said Shailesh Chaturvedi, MD and CEO.

Fibre2Fashion News Desk (DP)

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