Arvind Limited (ARVIND) share price
₹575.10 on NSE as of 2026-09-11. +0.93% on the day. market cap ₹15,645 Cr. P/E 36.4. 52-week range ₹279.60 to ₹587.10. Textiles.
What the company does
Textiles Textiles & Apparels Other Textile Products Arvind is the flagship company of the Ahmedabad -based Lalbhai group, which was founded by the Late Kasturbhai Lalbhai in 1931, is a diversified conglomerate having presence in textiles, branded apparel retailing, engineering, waste -water treatment plants, and real estate businesses among others at a group level. Arvind is one of India’s leading vertically integrated textile companies with presence of over eight decades in the industry. Arvind is among the largest denim and woven fabric manufacturers, with an installed capacity of 60 million metres per annum (MMPA) and 180 MMPA, respectively, as on March 31, 2026. Arvind also manufactures a range of cotton shirting, knits, bottom weights (Khakis), and technical textiles/advanced material. In May 2026, AAML, a wholly owned subsidiary of Arvind, acquired ~61% stake in Dalco, a U.S.-based manufacturer of specialised needle-punched non-woven fabrics, for a consideration of ~US$ 85.40 million (an enterprise value of USD$ 136 million). Dalco is a U.S.-based technical textiles manufacturer engaged in the production of needle -punched nonwoven fabrics, with an operating track record of nearly four decades. The company operates two manufacturing facilities located in North Carolina and South Carolina, with an aggregate capacity of ~75 million pounds per annum. Brief Consolidated Finan
Filed by CARE Ratings, page 8.
Arvind Ltd Q1 FY27: Revenue Up 24.7% to ₹2,501 Cr, 17.5 Million Metres of Denim, and a New Address in the Carolinas
At a glance
For the quarter ended June 2026, Arvind reported consolidated revenue of ₹2,501 crore, up 24.7% from ₹2,006 crore a year earlier. Operating profit rose 35.5% to ₹240 crore. Net profit moved from ₹53.24 crore to ₹53.45 crore. That is a change of ₹21 lakh on a ₹2,501 crore quarter, the financial equivalent of two runners crossing the line so close together that the photo-finish camera files a complaint.
The space between those two lines was not quiet. In May the company bought about 61% of Dalco-GFT, an American maker of needle-punched non-woven fabrics. Management said the deal is Arvind's largest acquisition ever. It sent a bill for itself through almost every line of the P&L. Management says depreciation included ₹10.7 crore of amortisation on acquired intangibles, interest included ₹10.6 crore on the US$110 million acquisition loan, and exceptional items of ₹22.6 crore (net of tax) were one-time transaction costs. Other Income came in at minus ₹3.87 crore. That is one of the few line items anywhere whose name promises income and whose number politely declines.
The factories were busy. Denim volumes reached 17.5 million metres, the highest in sixteen quarters according to management. Garmenting crossed 11 million pieces in a quarter for the first time.
The company then raised ₹500 crore through a qualified institutional placement. The shares were allotted on 5 August 2026, five weeks after the quarter closed.
Introduction
Arvind is the flagship of the Ahmedabad-based Lalbhai Group. Per CARE Ratings, the late Kasturbhai Lalbhai founded the group in 1931. The company describes itself as one of the world's largest denim manufacturers, with almost eight decades in textiles. That means it was weaving cloth before most of its customers' brands had names, logos or a strong opinion about stonewash.
The modern shape of the company comes from subtraction. In FY19 Arvind demerged its branded apparel and engineering businesses into Arvind Fashions and The Anup Engineering. Shareholders received 1 Arvind Fashions share for every 5 Arvind shares, and 1 Anup Engineering share for every 27. The number 27 was apparently chosen by someone with no interest in anyone's mental arithmetic.
The P&L since then has been eventful. Revenue was ₹7,369 crore in FY20 and fell to ₹5,073 crore in FY21, a year that ended with a pre-tax loss of ₹31 crore. Revenue then climbed to ₹9,303 crore by FY26. Borrowings moved from ₹2,640 crore in FY20 to ₹1,448 crore in FY24, and stood at ₹1,660 crore in March 2026.
The advanced materials division now sits in a wholly owned subsidiary, Arvind Advanced Materials Limited (AAML). AAML is the vehicle that bought Dalco-GFT.
The corner office also saw some rearranging. Susheel Kaul resigned as Managing Director and President (Textiles) and was relieved on 9 March 2026. Punit Lalbhai took over leadership of textiles from 1 April 2026. Nigam Shah was appointed Executive Director for five years from 3 April 2026. Sanjay Lalbhai is Chairman.
Business model
Arvind starts with cotton and ends with clothing, and it owns nearly every awkward teenage stage in between. Its operations run from cotton yarn to grey fabric to processed fabric to finished garments. Per CARE, the company works with over 445,000 farmers growing sustainable cotton across more than 90,000 acres. It then employs 25,833 people to turn that cotton into things with pockets.
**Textiles** is the main act. Per CARE, installed capacity at 31 March 2026 was 60 million metres a year of denim and 180 million metres a year of woven fabric, with shirting, knits and khakis alongside. In Q1, management reported woven fabric revenue of ₹676 crore and garmenting revenue of ₹497 crore. That makes shirts the quiet elder sibling here and denim the one with the famous reputation. The business is B2B and mostly made-to-order. CARE describes about 100 days of inventory, 45–60 days of customer credit and 70–80 days of supplier credit. This is a triangular arrangement of patience that only the textile trade could have invented.
**Advanced Materials** is where things get strange in the best way. Arvind makes fire-retardant suits, workwear, abrasion-resistant clothing, low-temperature gear, industrial fabrics and composites. It supplies the jeans people wear to a barbecue and also the suit people wear when the barbecue gets out of hand. Management says this business reached ₹650 crore of revenue in Q1 at a 15.0% EBITDA margin.
Dalco-GFT adds two plants, one in North Carolina and one in South Carolina, with about 75 million pounds a year of capacity. Management says mobility and geotextiles make up about 90% of Dalco's revenue. Geotextiles are fabric that gets buried under roads on purpose. It may be the only textile whose ideal outcome is that nobody ever sees it again.
**Others** is a genuine grab-bag. It includes wastewater treatment plants through Arvind Envisol, EPABX systems, one-to-many radio, agricultural produce and e-commerce. It is roughly what would happen if a tailor also serviced walkie-talkies and installed effluent plants on weekends.
Geographically, CARE puts exports at about 46% of FY26 sales. Direct US exposure is about 15% of total revenue.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Arvind Limited.
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