Arvind Ltd(ARVIND)

NSE: ARVINDBSE: 500101

₹ 480.75-0.06%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 13,078 crNext results: 28 Oct 2026Website: www.arvind.comUpdated: 24 Oct 2026

About

Arvind Ltd is an integrated Indian textile manufacturer making woven fabrics, denim, and garments, alongside a fast-growing Advanced Materials division (technical textiles, composites, and nonwovens). In FY26 the company reported consolidated revenue of ₹9,303 Cr and crossed ₹1,000 Cr EBITDA for the first time. In May 2026 it completed its largest-ever acquisition, buying a 61% stake in US needle-punch nonwovens maker Dalco-GFT at an enterprise value of US$136 Mn.^[1]

Business segments

Textiles (woven fabrics, denim, garmenting) contributed 73.4% of FY26 revenue at ₹7,147.77 Cr, with EBIT margin of 6.9%.^[2]
Advanced Materials (technical textiles, composites, industrial fabrics, human protection) contributed 18.9% of FY26 revenue at ₹1,838.5 Cr, with EBIT margin of 13.6%.^[2]
Others segment contributed 7.7% of FY26 revenue at ₹753.58 Cr, with EBIT margin of 4.3%.^[2]

Products and market position

Arvind is an integrated textile, apparel and advanced materials company spanning the value chain from cotton to garment manufacturing (FY25 annual report).^[3]
As of FY25 Arvind calls itself a leading denim player, one of India's largest knit fabric makers and one of India's largest fire protection fabric producers; it says it first brought denim to India in 1980.^[3]
Key raw materials include cotton, specialty fibres and yarns, glass roving, specialty chemicals and resins; 72% of cotton came from sustainable sources in FY25.^[3]

Operations and capacity

As of FY25 Arvind had 12 manufacturing plants and 6 offices in India, plus 3 offices abroad.^[3]
As of FY25 Arvind had 4 DSIR-recognised R&D facilities at Naroda, Santej, Khatraj and Pune, with 8 patents granted and 6 under review.^[3]
Both denim and garmenting divisions were running at 100% capacity utilisation as of Q1 FY27; woven fabric also reached 100% utilisation in Q2 FY26.^[4]
Dalco-GFT (USA) has 75 Mn lb needle-punch nonwovens capacity running at 85% utilisation; a line-8 capacity addition of ~7 - 8% is under evaluation.^[5]

Key operating volumes

Woven fabric full-year FY26 volume reached an all-time high of 136 Mn meters; Q1 FY27 volume was 31.2 Mn meters (+7% YoY).^[5]
Denim volume was 60 Mn meters in FY26 (+15% YoY); Q1 FY27 volume reached 17.5 Mn meters (+34% YoY), the highest level in 16 quarters.^[5]
Garmenting volume was 42 Mn pieces in FY26 (+12% YoY); Q1 FY27 volume crossed 11 Mn pieces for the first time at 11.1 Mn pieces (+13% YoY).^[5]
Denim fabric realisation was ₹253/mtr in Q1 FY27; woven fabric realisation was ₹202/mtr in Q1 FY27.^[4]
Advanced Materials FY26 full-year revenue reached ₹1,839 Cr (+19% YoY); India AMD grew +40% YoY in Q1 FY27.^[5]

Advanced Materials division

AMD reported its highest-ever quarterly revenue of ₹650 Cr and EBITDA of ₹97 Cr (15% margin) in Q1 FY27.^[4]
AMD export mix was 60 - 65% of divisional revenue in FY26; key sub-segments include Human Protection (defence), Composites (renewables, mobility), and Industrials.^[5]
The AMD business is housed in wholly owned subsidiary Arvind Advanced Materials Limited (AAML), rated AA (stable) by India Ratings.^[6]
AMD steady-state EBITDA margin is targeted at 15 - 16%, with a long-term revenue CAGR aspiration of 18 - 20%.^[5]

Customers and distribution

Customers are mainly businesses across geographies, including wholesalers, brands and retailers; Arvind served 62 countries as of FY25.^[3]
Direct revenue exposure to the US market was ~₹500 Cr, approximately 21% of topline as of Q2 FY26; no customers were lost despite US tariff uncertainty.^[7]
Europe exports were 8 - 10% of group revenue as of Q1 FY27; Arvind is opening design studios in London and possibly 1 - 2 more European locations.^[4]
Arvind has an asset-light garmenting partnership model with manufacturers in Bangladesh and Egypt, targeting 20 - 30% of garmenting in the medium term.^[4]

Expansion and capex

Garmenting capacity is targeted to reach 55 - 60 Mn pieces by end FY27, up approximately 20% from the FY26 base; knitting capacity is being expanded by approximately 60%.^[5]
A new garmenting factory in Varanasi was starting up in Q2 FY27; 2 - 3 brownfield plants are being debottlenecked through automation and second shifts.^[4]
For incremental denim capacity, Arvind is taking over management of non-functional third-party assets rather than building owned capacity.^[4]
FY27 India growth capex is targeted at ₹450 - 500 Cr, funded within free cash flow; all ongoing India capex programs were on track as of Q1 FY27.^[4]
Dalco-GFT (USA) was acquired at an enterprise value of US$136 Mn (7.75x CY25 EBITDA); 61% stake held via AAML; acquisition debt of ~$110 Mn to be repaid over five years.^[5]
Wind-solar hybrid PPA to bring renewable electricity share to 80% is expected to come online by end Q2 FY27.^[5]

Recent developments

On 12 Oct 2026 Care Ratings upgraded subsidiary Arvind Envisol's rating, with facilities cut from ₹137 crore to ₹135 crore and ₹10.09 crore to ₹7.50 crore; short-term rating reaffirmed at CARE A2+.^[8]
Arvind completed its maiden QIP of ₹500 Cr in Q1 FY27; proceeds are being applied primarily to debt reduction.^[4]
Dalco-GFT was consolidated from 6 May 2026, contributing ₹157 Cr revenue and ₹24 Cr EBITDA for 1.8 months in Q1 FY27.^[4]
Cotton and yarn inflation is estimated to create a ~₹100 Cr headwind on H1 FY27 EBITDA; textile EBITDA margin was 8.0% in Q1 FY27 versus 8.4% in Q1 FY26.^[4]

Market Cap

₹13,078 Cr

High / Low

₹607 / 287

Stock P/E

30.5

Price / Book

3.1

Book Value

₹154

EPS

₹15.8

No. of Shares

26.21 Cr

ROCE

13.9%

ROE

10.6%

OPM

8.2%

Debt / Equity

0.36

Sales

₹9,303 Cr

Net Profit

₹427 Cr

Promoter holding

38.1%

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Arvind Ltd(ARVIND)

About

Business segments

Products and market position

Operations and capacity

Key operating volumes

Advanced Materials division

Customers and distribution

Expansion and capex

Recent developments

Signal history

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