NEW DELHI, May 21
Arvind Fashions on Tuesday reported profit for the quarter ended March 31, 2024 at Rs 24.32 crore, recording a growth of 122.9 per cent from Rs 10.91 crore during the fourth quarter of FY23.
It posted revenue from operations at Rs 1093.85 crore, up 3.7 per cent as against Rs 1055.20 crore during the corresponding quarter of previous fiscal year.
While the total income recorded during the quarter ended March 31, 2024 came in at Rs 1106.84 crore, total expenses incurred during the quarter stood at Rs 1053.26 crore. The company board also recommended a final dividend of Rs 1.25 per equity share of face value of Rs 4 each for the financial year ended March 31, 2024. “The dividend shall be paid/dispatched to the shareholders within 30 days of declaration.
We shall inform you in due course the date on which the Company will hold Annual General Meeting for the year ended March 31, 2024,” the company said in a regulatory filing. The company said that the focus on retail excellence helped debtor days being lower by 2 days coupled with tighter control over inventory resulting in gross working capital (GWC) remaining stable. ROCE for FY24 improved to 16%+, higher by more than 400 bps YoY.
Shailesh Chaturvedi, MD & CEO, said, “FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite the market environment staying subdued.
Our continued focus on retail excellence resulted in healthy 4% LTL growth leading to 120 bps improvement in EBITDA margin for the full year.”
“Moving forward, we expect growth to witness strong uptick while continuing to stay decisively focused on scaling our existing brands through innovative retail formats and by accelerating our store network expansion leading to further improve margins & ROCE,” he added.
