Arvind Fashions reports strong Q4 performance despite muted market conditions

Commenting on the performance of the company, Shailesh Chaturvedi, MD & CEO said “FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite market environment staying subdued."

By  Storyboard18May 21, 2024 3:51 PM
Arvind Fashions reports strong Q4 performance despite muted market conditions
The company boasts a 'future-ready' portfolio of global brands that include, Flying Machine, Arrow and U.S Polo Assn.

Arvind Fashions Limited (AFL) has declared its financial results for the fourth quarter and fiscal year ended Mar 31, 2024. Revenues grew by 4% to Rs. 1,094 Crs compared to Rs. 1,055 Crs in Q4 FY23 and 2-year revenue CAGR of 15%. It reported a 17% growth in EBITDA to Rs. 148 Crs compared to Rs. 127 Crs in Q4 FY23. EBITDA margin improved by 150 bps to 13.5%, despite investment in advertising being higher by ~100 bps Y-o-Y. PAT (from the continuing business) stood at Rs. 25 Crs, growth of 72% Y-o-Y. Reported PAT grew 123% to Rs. 24 Crs compared to Rs. 11 Crs in Q4 FY23.

Commenting on the performance of the company, Shailesh Chaturvedi, MD & CEO said “FY24 has been a differentiated year with sharper execution leading to improvement in all key financial metrics, despite 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."

He added, 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.”

The company boasts a 'future-ready' portfolio of global brands that include, Flying Machine, Arrow and U.S Polo Assn.

First Published on May 21, 2024 3:39 PM

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