ARVIND LIM­ITED

Flash News Investment - - RECOMMENDATIONS -

We had rec­om­mended Arvind Ltd. in Vol­ume No 34, Is­sue No 27 (dated Apr 23, 2018), when the scrip was trad­ing at Rs 430. Our rec­om­men­da­tion was backed by fac­tors like ro­bust rev­enue growth and de­merger of its brand and re­tail busi­ness. We had re­viewed the scrip in Is­sue No 30 (dated May 14, 2018). when it was trad­ing at Rs 429. We had rec­om­mended in­vestors to hold the scrip on the back of strong prospects in FY19. In Q1FY19, the rev­enue was up by 10.3 per cent YoY to Rs 2860.96 crore. Its rev­enue from branded ap­par­els seg­ment grew by 13.9 per cent YoY. The EBITDA grew by 17.7 per cent YoY and EBITDA mar­gin stood at 8.6 per cent, while its PAT in­creased by 12.3 per cent to Rs 72.27 crore. Look­ing at the de­cent growth in the quar­ter, we urge in­vestors to HOLD the scrip.

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