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.