Arvind Ltd reports 58% revenue growth for FY22
The company’s revenues from textiles increased by 65% while those from advanced materials increased by 51% during the year.
According to the company’s statement, fabric and apparel volumes remained strong in domestic and export markets.
“Margins continued to be under pressure as cotton prices continued to soar and other input costs also remained high. While price increases helped offset cost increases, margin figures appeared lower compared to prior periods,” the company said.
Arvind Limited ended the 2021-22 financial year with a net debt of ₹1,682 crore, which was ₹268 crore lower than the March 2021 level.
In its near-term outlook, the company mentioned in its presentation to investors that export demand is expected to remain uncertain as inflation, rising interest rates and geopolitical disruptions reduce demand visibility. At the same time, pressure on input costs is expected to remain strong at least until November, when the arrival of the new crop could moderately moderate cotton prices.