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ICICI Securities Report
Key takeaways from Arvind Fashions Ltd.'s Q4 FY21 results:
Overall sales grew 14% YoY – in line with our estimates
‘Power brands' achieved sales growth of 17% YoY with ~7.5% pre-Indian-accounting standard 116 Ebitda margins.
Specialty retail and emerging brands incurred pre-Ind-AS-116 Ebitda loss of ~Rs 180 million.
Company passed an enabling resolution to raise up to Rs 4 billion though it has no immediate plan to implement it.
Net debt declined by more than Rs 3 billion in FY21 to Rs 9.2 billion owing to equity infusion and working capital improvement.
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