28th October 2021, Mumbai:
For the second quarter, Arvind’s revenue from operations rose 62.05 percent. The textile manufacturer’s total expenses increased 53.19 percent; revenue from textiles was up 70.69 percent while advance material was up 60.49 percent.
Volumes grew across all segments as post-Covid-19 demand stayed strong in both export and domestic markets. Input costs continued to increase sharply but were mostly offset by improved price realisation and higher efficiencies.
Arvind is one of the largest textile companies in India. This year is likely to see demand growth as retail and distribution pipelines are running low on inventory. The company’s sampling process moved online and sets the company up for a much speedier response to the market. The company is also investing in blockchain-based solutions to improve the traceability of inputs.
The financial year 2021 was a challenge for Arvind’s core textile and apparel businesses. There was a sharp reduction in demand across all markets especially in the early part of the financial year. However, as countries learn to live and cope with Covid-19, many export markets have started to resume. By the second quarter, several of Arvind’s export customers had started placing orders, partly driven by their online demand.
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