Arvind financials and balance sheet

NSE: ARVINDBSE: 500101Textiles & ApparelsSmall Cap

Formerly Arvind Mills

₹480.90₹4.10 (0.85%)BSE ₹481.05

Share price at the NSE close on 23 Oct 2026. Previous close ₹485.00.

52-week range of traded prices to 23 Oct 2026

₹286.00Low, 12 Jan 2026₹607.15High, 9 Sep 2026

Next results date: the board meets on 28 Oct 2026 to consider: financial results.

Market cap: ₹13,082 Cr547th largest listed
P/E: 31.6
P/B: 3.2
Dividend yield: 0.94%
ROE: 10.6%
ROCE: 13.5%
Debt to equity: 0.35
Volume, NSE: 4,47,06354.3% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Arvind annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

A loss in 1 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 6.5% of operating profit in the first full year.

The years either side of a change of basis do not compare. From the year to Mar 2019, the company's revenue for that year, ₹7,142 Cr, differs from its quarters added, ₹8,194 Cr.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue9,303
Materials and goods−4,495
Employee costs−1,203
Other expenses−2,602
Operating profit1,004
Depreciation−290
Other income+56
One-off items−17
Finance costs−165
Profit before tax588
Tax−168
Joint ventures+6.8
Net profit427

What the company owns

Plant, investments and other assets₹4,830 Cr
Inventory₹2,174 Cr
Receivables₹1,444 Cr
Current investments₹225 Cr
Cash and bank₹163 Cr

What pays for it: net worth and liabilities

Net worth₹4,141 Cr
Owed to suppliers₹1,973 Cr
Borrowings₹1,441 Cr
Other liabilities₹1,281 Cr

Arvind business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Arvind segment results by quarter

Revenue by segment

₹9,740 CrTotal

Textiles₹7,148 Cr73.4% of total
Advanced Materials₹1,839 Cr18.9% of total
Others₹754 Cr7.7% of total

Profit by segment

Textiles₹497 Cr63.7% of total
Advanced Materials₹251 Cr32.2% of total
Others₹32 Cr4.1% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Textiles
Revenue, ₹ crore
5,917
6,173
3,997
6,644
6,716
5,803
6,174
7,148
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
491
414
231
591
486
461
440
497
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Advanced Materials
Revenue, ₹ crore
632
713
679
1,026
1,251
1,428
1,544
1,839
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
45
75
63
99
142
195
209
251
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
625
535
434
438
517
593
738
754
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
35
−31
−35
−55
−69
13
29
32
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	7,174	7,422	5,111	8,108	8,483	7,824	8,456	9,740
Company revenue, as in its results	7,142	7,369	5,073	8,034	8,382	7,738	8,329	9,303
Revenue	5,917	6,173	3,997	6,644	6,716	5,803	6,174	7,148
Revenue growth	–	4.3%	−35.2%	66.2%	1.1%	−13.6%	6.4%	15.8%
Profit	491	414	231	591	486	461	440	497
Profit growth	–	−15.7%	−44.3%	155.9%	−17.7%	−5.1%	−4.6%	12.8%
Margin	8.3%	6.7%	5.8%	8.9%	7.2%	7.9%	7.1%	6.9%
Return on capital	13.5%	12.5%	7.8%	18.9%	15.4%	14.4%	13.3%	14.8%
Assets	4,982	4,867	4,513	5,463	4,463	4,660	5,091	5,543
Liabilities	1,345	1,541	1,544	2,341	1,310	1,460	1,780	2,184
Capital employed	3,637	3,326	2,970	3,123	3,153	3,200	3,311	3,359
Revenue	632	713	679	1,026	1,251	1,428	1,544	1,839
Revenue growth	–	12.9%	−4.8%	50.9%	21.9%	14.2%	8.1%	19.1%
Profit	45	75	63	99	142	195	209	251
Profit growth	–	68.3%	−16.2%	57.9%	42.6%	37.3%	7.3%	20.0%
Margin	7.1%	10.5%	9.3%	9.7%	11.3%	13.6%	13.5%	13.6%
Return on capital	9.1%	16.1%	16.2%	21.5%	25.4%	29.9%	23.8%	30.0%
Assets	588	541	509	650	718	889	1,203	1,195
Liabilities	97	76	121	188	160	239	327	360
Capital employed	491	465	387	462	558	650	876	835
Revenue	625	535	434	438	517	593	738	754
Revenue growth	–	−14.3%	−18.9%	0.9%	18.1%	14.7%	24.4%	2.1%
Profit	35	−31	−35	−55	−69	13	29	32
Profit growth	–	–	–	–	–	–	127.9%	10.8%
Margin	5.6%	−5.8%	−8.0%	−12.7%	−13.4%	2.1%	3.9%	4.3%
Return on capital	11.1%	−8.1%	−9.6%	−17.7%	−37.3%	4.4%	9.1%	8.2%
Assets	520	623	614	671	661	822	822	894
Liabilities	208	236	252	357	474	534	502	504
Capital employed	313	386	362	313	186	288	320	390

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Arvind quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 18 May	Mar 2020Filed 27 Jun	Mar 2021Filed 27 May	Mar 2022Filed 18 May	Mar 2023Filed 19 May	Mar 2024Filed 6 May	Mar 2025Filed 10 Jun	Mar 2026Filed 16 May
Revenue from operations	9,236	10,826	7,142	7,369	5,073	8,034	8,382	7,738	8,329	9,303
	8,292	9,861	6,425	6,677	4,610	7,245	7,582	6,893	7,475	8,299
Materials and goods bought	4,197	5,260	3,261	3,736	2,522	4,122	4,471	3,679	3,963	4,495
Employee costs	–	–	900	942	697	809	868	964	1,056	1,203
Other expenses	–	–	2,265	1,999	1,392	2,314	2,244	2,250	2,456	2,602
Operating profit before depreciation	943	965	717	692	463	788	800	845	853	1,004
Operating margin	10.2%	8.9%	10.0%	9.4%	9.1%	9.8%	9.5%	10.9%	10.2%	10.8%
Materials, % of revenue	–	–	45.7%	50.7%	49.7%	51.3%	53.3%	47.5%	47.6%	48.3%
Employee costs, % of revenue	–	–	12.6%	12.8%	13.7%	10.1%	10.3%	12.5%	12.7%	12.9%
Other expenses, % of revenue	–	–	31.7%	27.1%	27.4%	28.8%	26.8%	29.1%	29.5%	28.0%
Depreciation and amortisation	297	359	235	290	285	272	253	266	259	290
Operating profit after depreciation	646	606	482	402	177	516	547	579	595	714
Other income	78	63	84	55	52	51	45	41	65	56
Finance costs	288	258	220	237	225	176	164	159	166	165
Profit before one-off items and tax	436	410	345	220	5	390	427	461	494	606
One-off items	−18	−23	−46	−50	−36	−14	59	2	0	−17
Profit before tax	418	388	299	170	−31	377	486	463	494	588
	100	75	62	76	−4	136	71	111	125	168
Current tax	135	–	82	77	5	40	100	133	119	164
Deferred tax	−35	–	−21	−1	−8	96	−30	−23	6	4
Share of profit of joint ventures and associates	2	3	1	−2	0	1	1	0	−1	7
Profit from discontinued businesses	–	–	−10	–	–	–	−4	–	–	–
	320	316	228	92	−27	242	413	353	367	427
Belonging to the company's shareholders	320	316	226	96	−17	238	405	337	353	414
Belonging to outside owners of subsidiaries	–	–	2	−4	−11	3	9	16	14	13
Other comprehensive income	–	–	−15	−63	26	−9	−14	−10	−25	−70
Total comprehensive income	–	–	214	29	−1	233	400	343	342	357
Net margin	3.5%	2.9%	3.2%	1.2%	−0.5%	3.0%	4.9%	4.6%	4.4%	4.6%
Net margin without joint ventures and associates	3.4%	2.9%	3.2%	1.3%	−0.5%	3.0%	4.9%	4.6%	4.4%	4.5%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 18 May	Mar 2020Filed 27 Jun	Mar 2021Filed 27 May	Mar 2022Filed 18 May	Mar 2023Filed 19 May	Mar 2024Filed 6 May	Mar 2025Filed 10 Jun	Mar 2026Filed 16 May
	2,837	2,767	2,767	3,006	3,404	3,621	3,871	4,141
	2,750	2,709	2,719	2,951	3,346	3,543	3,786	4,044
Share capital	259	259	259	261	262	262	262	262
Reserves	2,492	2,450	2,460	2,690	3,084	3,281	3,524	3,782
Belonging to outside owners of subsidiaries	86	58	47	56	59	78	85	97
	2,536	2,193	1,773	1,759	1,404	1,325	1,376	1,441
Repayable after a year	935	1,018	1,142	758	378	263	292	277
Repayable within a year	1,601	1,175	631	1,002	1,025	1,062	1,084	1,164
	3,408	3,075	2,596	3,636	2,840	3,100	3,508	3,893
Trade payables	1,358	1,260	1,400	2,183	1,238	1,375	1,655	1,973
Other financial liabilities	346	496	405	174	242	251	351	385
Other liabilities	74	118	140	248	309	381	379	302
Provisions	13	17	12	20	15	16	20	50
Tax owed	11	2	0	0	1	13	6	6
	1,089	1,324	1,358	1,062	669	540	720	802
Other financial liabilities	0	155	104	88	93	97	154	181
Other liabilities	0	2	1	0	0	0	0	87
Provisions	50	49	30	26	29	32	36	43
Deferred tax	41	27	10	123	95	68	125	98
Liabilities going with businesses held for sale	–	–	–	–	0	–	–	–
	7,334	7,165	6,721	7,705	6,914	7,260	8,099	8,836
Held for sale or for a demerger	89	90	91	–	0	–	–	–
	3,843	4,128	3,816	3,665	3,797	3,788	4,327	4,395
Plant in use, after depreciation	3,234	3,678	3,494	3,270	3,227	3,209	3,432	3,849
Plant being built	260	112	78	45	79	117	407	119
Intangible assets	127	96	59	35	23	16	14	21
Goodwill	26	27	15	9	9	9	8	8
Intangible assets being developed	2	0	0	0	1	1	2	2
Property held to earn rent	34	34	23	168	168	188	123	116
Investments	78	90	70	66	211	160	117	4
Stakes in joint ventures and associates	0	0	0	0	0	0	32	39
Loans given	1	1	1	1	1	0	0	0
Other financial assets	47	41	36	40	37	37	47	62
Deferred tax	11	36	8	8	16	15	67	26
Other assets	22	12	33	23	25	37	77	149
	3,401	2,947	2,814	4,040	3,117	3,472	3,772	4,441
Inventories	1,598	1,277	1,160	2,208	1,649	1,986	2,138	2,174
Trade receivables	897	1,048	1,092	1,109	966	1,070	1,177	1,444
Cash and cash equivalents	71	50	27	60	57	57	56	88
Other bank balances	10	34	24	17	20	18	60	75
Current investments	0	0	0	0	0	7	1	225
Loans given	163	40	50	40	30	4	1	0
Other financial assets	140	125	118	86	23	18	15	43
Tax paid in advance	78	24	23	35	22	20	7	54
Other assets	444	350	319	485	351	292	316	338
Net debt	2,456	2,109	1,721	1,682	1,327	1,242	1,259	1,052

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 27 May	Mar 2022Filed 18 May	Mar 2023Filed 19 May	Mar 2024Filed 6 May	Mar 2025Filed 10 Jun	Mar 2026Filed 16 May
	776	595	666	696	763	867
	790	633	753	830	860	1,025
	255	−226	−99	−94	−51	19
Receivables	−56	−19	83	−105	−112	−261
Inventories	80	−964	486	−262	−168	−37
Payables	142	783	−945	127	280	309
Other working capital	89	−26	276	145	−51	7
Tax paid	−14	−38	−86	−134	−97	−158
Capital spending	116	185	204	278	535	509
Free cash flow	660	409	462	418	228	358
	−81	−121	−135	−277	−504	−607
Plant and property sold	27	39	34	24	0	17
Companies bought	0	0	0	−29	0	0
Interest received	9	6	15	4	5	5
Dividends received	0	2	1	2	1	0
	−717	−439	−534	−419	−271	−228
Borrowings raised	2,450	2,769	11	222	246	264
Borrowings repaid	−2,903	−3,011	−361	−302	−196	−199
Interest paid	−233	−168	−153	−151	−149	−147
Lease payments	−30	−32	0	−34	−44	−52
Dividends paid	0	2	4	154	130	104
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	−22	34	−3	1	−12	32

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Arvind dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 18 May	Mar 2020Filed 27 Jun	Mar 2021Filed 27 May	Mar 2022Filed 18 May	Mar 2023Filed 19 May	Mar 2024Filed 6 May	Mar 2025Filed 10 Jun	Mar 2026Filed 16 May
Earnings per share	₹12.15	₹11.97	₹8.75	₹3.70	−₹0.64	₹9.17	₹15.51	₹12.87	₹13.51	₹15.80
Diluted earnings per share	₹12.14	₹11.95	₹8.74	₹3.70	−₹0.64	₹9.13	₹15.49	₹12.86	₹13.49	₹15.79
Dividend per share	₹2.40	₹2.40	₹2.00	–	–	–	₹5.75	₹4.75	₹3.75	₹4.50
Book value per share	–	–	₹106.35	₹104.67	₹105.02	₹113.23	₹127.94	₹135.41	₹144.61	₹154.29
Dividend payout	19.4%	19.7%	22.9%	–	–	–	37.2%	36.9%	27.8%	28.5%
Shareholder yield	–	–	–	–	0.0%	0.1%	0.2%	2.2%	1.6%	1.2%
Market cap at the year end (₹ crore)	10,204	9,904	2,352	508	1,705	3,008	2,218	7,075	8,250	8,878

Ratios

Consolidated, years to March.Arvind PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 18 May	Mar 2020Filed 27 Jun	Mar 2021Filed 27 May	Mar 2022Filed 18 May	Mar 2023Filed 19 May	Mar 2024Filed 6 May	Mar 2025Filed 10 Jun	Mar 2026Filed 16 May
Revenue growth	9.3%	17.2%	–	3.2%	−31.2%	58.4%	4.3%	−7.7%	7.6%	11.7%
Operating profit growth	−11.4%	2.3%	–	−3.4%	−33.2%	70.4%	1.5%	5.7%	1.0%	17.7%
Net profit growth	−11.8%	−1.3%	–	−59.7%	–	–	71.0%	−14.7%	4.2%	16.2%
Earnings per share growth	−13.5%	−1.5%	–	−57.7%	–	–	69.1%	−17.0%	5.0%	17.0%
	–	–	8.2%	3.5%	−0.6%	8.4%	12.9%	9.8%	9.6%	10.6%
	–	–	–	−4.7 pts	−4.1 pts	9.0 pts	4.5 pts	−3.1 pts	−0.1 pts	0.9 pts
From the net margin	–	–	–	−4.9 pts	−4.4 pts	6.1 pts	5.3 pts	−1.3 pts	−0.2 pts	0.5 pts
From asset turnover	–	–	–	0.1 pts	0.2 pts	2.9 pts	0.4 pts	−0.6 pts	−0.1 pts	0.1 pts
From borrowing	–	–	–	0.0 pts	0.0 pts	0.0 pts	−1.2 pts	−1.3 pts	0.2 pts	0.3 pts
Return on capital employed	–	–	9.0%	8.1%	3.9%	10.8%	11.4%	11.7%	11.3%	12.8%
Cash conversion	–	–	–	–	–	246.1%	161.2%	197.5%	207.7%	203.1%
Interest cover	2.2	2.3	2.2	1.7	0.8	2.9	3.3	3.6	3.6	4.3
Debt to equity	–	–	0.89	0.79	0.64	0.59	0.41	0.37	0.36	0.35
Receivable days	–	–	46	52	79	50	42	50	52	57
Inventory days	–	–	179	125	168	196	135	197	197	177
Payable days	–	–	152	123	203	193	101	136	152	160
Cash conversion cycle, days	–	–	73	54	44	53	76	111	96	73
Working capital days	–	–	77	48	57	60	53	64	54	52
Asset turnover	–	–	0.97	1.02	0.73	1.11	1.15	1.09	1.08	1.10
Assets per rupee of net worth	–	–	2.67	2.66	2.56	2.54	2.32	2.06	2.10	2.16
Sales per rupee of plant	–	–	2.21	2.00	1.45	2.46	2.60	2.41	2.43	2.42
Capital spending to depreciation	–	–	–	–	0.41	0.68	0.81	1.05	2.07	1.75
Plant being built, % of plant in use	–	–	8.0%	3.1%	2.2%	1.4%	2.4%	3.6%	11.9%	3.1%

Revenue growth, operating profit growth, net profit growth and earnings per share growth are left blank for the year to Mar 2019: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 4.9%
Cash from operations against operating profit: 86.3%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	1.0%	12.9%	3.5%
Profit growth, yearly rate	1.3%	–	0.8%
Return on equity, average	–	10.2%	10.0%
Return on capital employed, average	–	11.6%	11.9%
Operating margin, average	9.9%	10.3%	10.7%
Net margin, average	3.2%	4.3%	4.5%
Asset turnover, average	–	1.11	1.09
Cash conversion cycle, days, average	–	82	93
Interest cover, average	2.7	3.6	3.9
Debt to equity, average	–	0.41	0.36

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	3,587	2,326	867
Cash from investing	−1,644	−1,387	−607
Cash from financing	−1,891	−918	−228
Capital spending	1,711	1,322	509
Dividends paid	394	388	104
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	3,512	732	264
Borrowings repaid	4,069	697	199

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	4	7	5	7	5	7
Altman Z-scorePublished threshold 1.81	–	–	2.00	1.74	1.66	2.22	2.58	3.21	3.12	3.14
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.90	−2.57	−2.60	−2.62	−2.34	−2.66
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−10.41	−3.21	−1.61	−0.94	1.41	1.97
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	3.25	1.94	1.88	2.03
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	13.61	35.36	−56.81	−17.21	18.45	2.41	10.94
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	−34.69	23.32	26.98	−33.79	38.15	−0.09	−11.73
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−2.21	−0.76	1.81	−2.51	−0.85	0.10	1.04
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.15	0.77	0.95	0.38	0.47	0.85	0.17
Effective tax ratePublished threshold 17.16 per cent	23.86	19.24	20.56	44.50	–	36.17	14.52	23.88	25.40	28.57
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	26.08	−3.27	−5.02	5.71	1.72

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
25 Aug 2026	CARE Ratings Limited (opens in a new tab)	Term Loan-Long Term	CARE AAReview, Upgrade	Stable	492.90
25 Aug 2026	CARE Ratings Limited (opens in a new tab)	Non-fund-based - ST-BG/LC	CARE A1+Review, Re-affirm		876.01
25 Aug 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - LT/ ST-CC/PC/Bill Discounting	CARE AA / CARE A1+Review, Upgrade	Stable	1,549.98
25 Aug 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - ST-PC/Bill Discounting	CARE A1+Review, Re-affirm		125
25 Aug 2026	CARE Ratings Limited (opens in a new tab)	Commercial Paper	CARE A1+Review, Re-affirm		300

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.