Sharekhan’s research report on Arvind Limited
During Q4FY2018, Arvind Limited (Arvind) reported 21.3% y-o-y revenue growth to Rs. 2,990 crore. Revenue from the textile segment grew by 9.3% y-o-y to Rs. 1,596.4 crore mainly led by 13% volume growth in the garment segment and 14% revenue growth in the woven segment. Fabric volume also improved from 56 million metres to 60 million meters despite the decline in denim domestic volumes.
Further, demerger of businesses such as B&R and Anup Engineering into separate verticals would enhance shareholders value in the near future. Thus, we maintain our Buy recommendation on the stock with an unchanged price target of Rs. 500.
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