Arvind Limited (ARVIND) share price
₹510.50 on NSE as of 2026-10-08. -3.55% on the day. market cap ₹13,320 Cr. P/E 32.3. 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
Arvind sells denim, woven fabric, stitched garments and technical fabrics for industrial use. Revenue for the three months to June 2026 was ₹2,501 crore, up 24.7% from a year earlier. Operating profit rose 35.5% to ₹240 crore over the same three months. Net profit moved from ₹53.24 crore a year ago to ₹53.45 crore this time. The distance between those two figures is ₹21 lakh on a quarter of ₹2,501 crore. Two runners finishing that close would have the photo-finish camera filing a formal complaint.
The space between the top line and the bottom line was not a quiet one. In May the company bought about 61% of Dalco-GFT, an American maker of needle-punched non-woven fabric. Non-woven fabric is bonded or punched together rather than woven on a loom. Management says the deal is the largest acquisition Arvind has ever made. The purchase sent a bill through almost every line of the profit and loss account. Management says depreciation included ₹10.7 crore of amortisation on intangible assets that came with the business. Amortisation is the yearly writing down of those assets against reported profit. Interest included ₹10.6 crore on the loan of US$110 million raised for the deal, management says. Exceptional items of ₹22.6 crore after tax were one-off transaction costs, according to management. Other income for the quarter came in at minus ₹3.87 crore. It is one of the few lines whose name promises income and whose number declines.
The factories themselves were running hard through the three months to June 2026. Management says denim volumes reached 17.5 million metres, the highest in sixteen quarters. Garmenting crossed 11 million pieces in a single quarter for the first time.
The company then raised ₹500 crore through a qualified institutional placement. That is a sale of new shares to large institutional buyers. The shares were allotted on 5 August 2026, five weeks after the quarter closed.
Introduction
Arvind is the flagship company of the Lalbhai Group, which is based in Ahmedabad. CARE Ratings, a credit-rating agency, says the late Kasturbhai Lalbhai founded the group in 1931. The company describes itself as one of the world's largest denim makers, with nearly eight decades in textiles. Its output runs from denim and shirting fabric to finished garments and technical textiles. It was weaving cloth before most of its customers' brands had names, logos or opinions about stonewash.
The modern shape of the company comes from subtraction rather than addition. In the year to March 2019 it demerged branded apparel into Arvind Fashions and engineering into The Anup Engineering. Shareholders received one Arvind Fashions share for every five Arvind shares held. They received one share of The Anup Engineering for every twenty-seven. Twenty-seven was apparently chosen by somebody with no interest in anybody's mental arithmetic.
The years since have been eventful for the profit and loss account. Revenue for the twelve months to March 2020 was ₹7,369 crore. It fell to ₹5,073 crore the following year, which ended with a pre-tax loss of ₹31 crore. By the year to March 2026 revenue had climbed to ₹9,303 crore. Borrowings fell from ₹2,640 crore in March 2020 to ₹1,448 crore in March 2024. Borrowings stood at ₹1,660 crore at the end of March 2026.
The advanced materials division now sits inside a wholly owned subsidiary, Arvind Advanced Materials Limited. That subsidiary is the vehicle through which the Dalco-GFT purchase was made.
The corner office has seen a fair amount of rearranging in recent months. Susheel Kaul resigned as Managing Director and President for textiles and was relieved on 9 March 2026. Punit Lalbhai took over leadership of the textiles business from 1 April 2026. Nigam Shah was appointed Executive Director for five years from 3 April 2026, and Sanjay Lalbhai is Chairman.
Business model
Arvind starts with cotton and ends with clothing, owning most of the awkward stages in between. Operations run from cotton yarn to grey fabric, then processed fabric, then finished garments. CARE Ratings, a credit-rating agency, says the company works with over 445,000 farmers growing sustainable cotton. Those farms cover more than 90,000 acres in total, according to the same CARE report. The company then employs 25,833 people to turn that cotton into things with pockets.
Textiles is the main act, in capacity as well as in reputation. CARE says installed denim capacity at 31 March 2026 was 60 million metres a year. Woven fabric capacity was 180 million metres a year, with shirting, knits and khakis alongside. Management reported woven fabric revenue of ₹676 crore for the three months to June 2026. Garmenting brought in ₹497 crore over the same three months, management says. That makes shirts the quiet elder sibling here and denim the one with the famous name. The business sells to other businesses and works mostly to order rather than to stock. CARE describes roughly 100 days of stock sitting in the system at any time. Customers take between 45 and 60 days to pay, CARE says. Suppliers are paid after 70 to 80 days, on the same CARE figures. This is a triangular arrangement of patience that only the textile trade could have invented.
Advanced Materials is where the catalogue gets strange in the best way. Arvind makes fire-retardant suits, workwear, abrasion-resistant clothing and gear for low temperatures. Industrial fabrics and composites come out of the same division. So it supplies the jeans people wear to a barbecue and the suit for when it goes wrong. Management says this business reached ₹650 crore of revenue in the three months to June 2026. Management puts the division's margin before depreciation, interest and tax at 15.0%.
Dalco-GFT adds two plants, one in North Carolina and one in South Carolina. Between them they carry about 75 million pounds of capacity a year. Management says mobility and geotextiles make up about 90% of Dalco's revenue. Geotextiles are fabrics that are buried under roads on purpose and stay there. It may be the only textile whose ideal outcome is that nobody ever sees it again.
Others is a genuine grab-bag, and the contents do not obviously belong together. It covers wastewater treatment plants through Arvind Envisol, telephone exchange systems and one-to-many radio. Agricultural produce and e-commerce are filed under the same heading as well. It is roughly what a tailor would look like after taking up walkie-talkies and effluent plants at weekends.
CARE puts exports at about 46% of sales in the year to March 2026. Direct exposure to the United States is about 15% of total revenue, on CARE's figures.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Arvind Limited.
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