ARVIND
Micro CapArvind Limited
Consumer
Arvind Limited is an Indian textile and advanced materials manufacturer. It operates in segments like Denim, Wovens, Garments, and Advanced Materials, including Human Protection, Industrials, and Composites. The company recently entered the U.S. market through the acquisition of Dalco-GFT.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is acceptable, price trend is neutral, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Good · 55/100Rev +15% YoY · PAT +6% YoY · margin expansion · +8% QoQ
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,553 Cr | +14.9% | +7.6% |
| EBITDA | ₹306 Cr | +24.9% | +12.1% |
| Operating margin | 12.0% | +100 bps | +100 bps |
| PAT | ₹165 Cr | +6.5% | +63.4% |
| PAT margin | 6.5% | -52 bps | +220 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Arvind Limited reports record FY26 consolidated revenue of 9303 Cr, up 12% YoY, with EBITDA up 15% YoY to 1061 Cr. Q4FY26 saw 15% revenue growth and 19% EBITDA growth, driven by strong volume in Textiles and Advanced Materials.
Arvind delivered strong FY26 results, meeting guidance with double-digit revenue and EBITDA growth, driven by robust textile volumes and a rebound in Advanced Materials. Margin expansion and improved free cash generation are positive, though Q4 PAT growth was modest. The Dalco-GFT acquisition signals strategic expansion.
Revenue by Segment (FY26)
Latest issuer-disclosed distribution across 3 reported categories.
Advanced Materials Performance
Advanced materials achieved guided growth trajectory of 18-20% for FY26 on account of better performance in H2.
Textile Volume Growth
Textile business reports robust volume growth in Denim & Garmenting, with Denim up 19% and Garments up 21% in Q4 YoY.
Garmenting Division Scale
Garmenting division records 3rd consecutive quarter of 10 Mn+ Pcs. (~42 Mn p.a) & crosses 2000 of topline.
U.S. Market Entry via Acquisition
In May 2026, Arvind entered the U.S. market through the acquisition of Dalco-GFT via its WOS AAML, at an enterprise value of ~ USD 136 million.
Growth-Oriented Capex
The company will continue to invest in growth-oriented capex across Garmenting and Advanced Materials, with planned capital allocation of 450–500 crore.
FTA Opportunities
New opportunity beacons on account of multiple FTA’s signed by India (EU, UK, New Zealand, Australia).
Resilient Demand
Demand for Textiles and Advanced Materials continues to remain resilient, with major sourcing destinations largely stable for now.
Healthy Order Book
The current order book is at healthy levels, supported by a robust inquiry pipeline for the upcoming season.
Sustained Disruption
Despite robust demand situation, growth was limited on account of sustained disruption.
Margin Impact by Tariff
Margin expansion was partly impacted by tariff.
New Labour Code Provision
One time provision of 23.5 Cr (net of tax) due to implementation of new Labour Code.
Global Uncertainties & Inflation
There may be disruption in demand especially in second half due to increase in inflation and other global uncertainties impacting discretionary consumption.
Global Trade Environment Uncertainty
The global trade environment remains uncertain amid multiple disruptions.
Input Cost Inflation
Input costs across product lines have risen sharply, which may exert margin pressure in H1 FY27.
Impact on Discretionary Consumption
Increase in inflation and other global uncertainties impacting discretionary consumption could disrupt demand in H2 FY27.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The document provides both Q4 YoY and FY26 YoY comparisons for financial results, indicating the importance of both short-term momentum and annual performance. Sequential performance is also highlighted for Garmenting volumes.
Consolidated Revenue Growth
Consolidated revenue for FY26 grew double digit & crossed a record 9300 Cr, up 12% YoY. Q4FY26 revenue grew 15% YoY to 2553 Cr.
EBITDA Margin
Overall margins improved to 11.4% (up 37 bps) for FY26. Q4FY26 reported highest ever EBITDA margin of ~12.8%.
Textile Volume Growth (Denim)
Denim volumes registered a growth of 19% backed by higher verticalization in Q4 FY26 YoY.
Textile Volume Growth (Garments)
Garmenting division records 3rd consecutive quarter of 10 Mn+ Pcs. (~42 Mn p.a) & crosses 2000 of topline.
FY27 Growth Outlook
Company expects to grow at double digits backed by a high double digit growth in Advanced Materials and mid teen growth in Garments.
Margin Recovery Expectation
Margin recovery is expected in H2 FY27, subject to easing of geopolitical tensions, after potential H1 pressure from input costs.
Capex Funding Strategy
Planned capital allocation of 450–500 crore for growth-oriented capex will be funded within the free cash flow envelope.
Dalco-GFT Financial Impact
The stated FY27 outlook does not include the financial impact of the consolidation of the newly acquired Dalco-GFT.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Consolidated Revenue Growth | FY26: 12% YoY; Q4FY26: 15% YoY | Double-digit growth, specifically high double-digit in Advanced Materials and mid-teen in Garments for FY27. |
| EBITDA Margin | FY26: 11.4%; Q4FY26: 12.8% | Margin pressure in H1 FY27 due to input costs, followed by recovery in H2 FY27 as geopolitical tensions ease. |
| Net Debt Reduction & Free Cash Flow | Net debt reduced by 112 Cr in FY26. | Continued free cash generation to fund planned capex of 450-500 Cr and further reduce debt. |
| Dalco-GFT Integration & Contribution | Acquired for ~USD 136 million in May 2026. | Financial impact and contribution to overall performance in future periods, as it's not included in current FY27 outlook. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
54NeutralSMA20 +37.5% / mo · near 52W high
Technical chart
ARVINDdaily · 5Y+53.8%Technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 65. Wait for confirmation.
- SMA20 rising (~16.6% over last month) — short-term momentum positive.
- RSI(14) at 65 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 59.4%.
- Growth contributes 17/25 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Quality is weaker at 1/20; verify the latest quarterly trend.
- Cash flow is weaker at 5/10; verify the latest quarterly trend.
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 76th percentile of the scored universe and 77th percentile within Consumer. No major sub-score weakness stands out.
Healthy Trust Lite: Promoter pledge is zero. Key concern: 2 recent quarters had PAT decline worse than 25% YoY.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Consumer: 77th pctile, median 67 · Micro: 64th pctile, median 71
0 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2%.
- ▸11 years of positive FCF.
- ▸7/8 recent quarters had positive YoY revenue growth.
Trust risks
- ▸2 recent quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 30.80
- P/B
- 3.25
- EV/EBITDA
- 11.43
- Market Cap
- 13131.00Cr
Profitability
- ROE
- 10.90%
- ROCE
- 13.80%
- ROA
- 4.83%
- Dividend Y
- 0.75%
Growth (CAGR)
- Revenue 5Y
- 13.00%
- EPS 5Y
- 135.00%
- Revenue 3Y
- 4.00%
- EPS 3Y
- 6.00%
Balance Sheet
- Debt/Equity
- 0.41
- Interest Coverage
- 6.08×
- Altman Z
- 3.84
- Book Value
- 154.00
Cash Flow
- FCF Yield
- 1.98%
- FCF Positive Y
- 11/5
- OCF
- 867.00 Cr
- EPS TTM
- 15.79
Shareholding
- Promoter Hold
- 39.53%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 94%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.