Margins continued to be under pressure as cotton prices continued to soar, and other input costs also remained high. While price increases helped offset the cost increases, margin numbers looked lower compared to previous periods, the company said in a press release.

Advanced materials crossed ₹1,000 crore mark during the year, and delivered an EBITDA margin of 13 per cent. Arvind Limited closed the financial year at a net debt of ₹1,682 crore which was ₹268 crore lower than March 2021 levels. Long term debt reduced by ₹415 crore over this period.

''FY22 has indeed been an important year for the company having achieved various milestones with refreshed brand identities, sharp retail execution, significant expansion of our store network backed by omni-capabilities, leadership in the online channel with Rs 1,000 crore revenues and a stronger balance sheet,” Arvind Fashions MD and CEO Shailesh Chaturvedi said.

“Performance in the second half of FY22 reflects great affinity of the company's brands amongst the consumers and resilience of the business model to overcome the initial impact of the COVID-19 third wave in January 2022,” he added.

Fibre2Fashion News Desk (RR)