Arvind Limited Recommends Dividend for the Year Ended March 31, 2017; Plans to Raise up to INR 5,000 Million Via Issuance of Non-Convertible Debentures; Reports Unaudited Standalone and Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2017
May 11, 2017 at 10:12 am
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Arvind Ltd. announced that the Board of Directors of the company at its meeting held on May 11, 2017 has recommended a dividend at 24% that is INR 2.40 per equity share of INR 10 each of the company for the year ended March 31, 2017.
The company plans to raise up to INR 5,000 million via issuance of Non-Convertible Debentures (NCDs) on a private placement basis.
The company also reported unaudited standalone and consolidated earnings results for the fourth quarter and full year ended March 31, 2017. For the quarter, on standalone basis, the company reported net sales/income from operations (net of excise duty) was INR 15,674.7 million against INR 14,286.9 million a year ago. Profit before exceptional items was INR 627.6 million against INR 1,051.1 million a year ago. Profit before tax was INR 538.4 million against INR 1,050.8 million a year ago. Net profit for the period was INR 445.1 million or INR 1.72 diluted per share (not annualized) against INR 766.1 million or INR 2.93 basic and diluted per share (not annualized) a year ago.
For the year, on standalone basis, the company reported net sales/income from operations (net of excise duty) was INR 60,532.3 million against INR 54,660.2 million a year ago. Profit before exceptional items was INR 4,007.0 million against INR 4,500.9 million a year ago. Profit before tax was INR 3,826.4 million against INR 4,514.6 million a year ago. Net profit for the period was INR 2,708.8 or INR 10.48 diluted per share (not annualized) against INR 3,206.4 million or INR 12.41 diluted per share (not annualized) a year ago.
For the quarter, on consolidated basis, the company reported net sales/income from operations (net of excise duty) was INR 24,931.9 million against INR 22,518.7 million a year ago. Profit before exceptional items was INR 1,177.8 million against INR 1,227.4 million a year ago. Profit before tax was INR 1,088.6 million against INR 1,227.1 million a year ago. Net profit for the period was INR 931.6 million or INR 3.60 diluted per share (not annualized) against INR 978.8 million or INR 3.79 basic and diluted per share (not annualized) a year ago.
For the year, on consolidated basis, the company reported net sales/income from operations (net of excise duty) was INR 93,135.4 million against INR 80,926.2 million a year ago. Profit before exceptional items was INR 4,358.9 million against INR 4,340.2 million a year ago. Profit before tax was INR 4,178.3 million against INR 4,353.9 million a year ago. Net profit for the period was INR 3,138.4 or INR 12.14 diluted per share (not annualized) against INR 3,141.9 million or INR 12.16 diluted per share (not annualized) a year ago.
Arvind Limited is an India-based vertically integrated textile company. The Company operates through three segments: Textiles, Advanced Materials and Others. The Textiles segment includes fabrics, garments, and fabric retail. The Advanced Materials segment consists of human protection fabrics and garments, industrial products, advance composites, and automotive fabrics. The Others segment includes e-commerce, agriculture produce, EPABX and one to many radios, developing of residential units and others. It also manufactures a range of cotton shirting, denim, knits, and bottom weights (Khakis) fabrics and jeans and shirts garments. Its businesses include fabric and apparel, brands and retail, real estate, engineering, Internet, environmental solutions, advanced materials, telecom, and garmenting. Its subsidiaries include Arvind PD Composite Private Limited, Arvind OG Nonwovens Private Limited, Arvind Internet Limited, and Arvind Goodhill Suit Manufacturing Private Limited, among others.
Arvind Limited Recommends Dividend for the Year Ended March 31, 2017; Plans to Raise up to INR 5,000 Million Via Issuance of Non-Convertible Debentures; Reports Unaudited Standalone and Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2017