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Swing Capital

Arvind Ltd

NSE: ARVIND BSE: 500101Textile

Arvind Limited (‘the Company’) is one of India’s leading vertically integrated textile company with the presence of almost eight decades in this industry. It is among the largest denim manufacturers in the world. It also manufactures a range of cotton shirting, denim, knits and bottom weights (Khakis) fabrics and Jeans and Shirts Garments. [1]

₹471
52W: ₹275 — ₹478
PE 43.9 · Book ₹117 · +303% vs book
Market Cap₹12,351 Cr
Stock P/E43.9Price to Earnings
ROCE10.9%Return on Capital
ROE8.46%Return on Equity
Div. Yield0.78%Face Value ₹10

Strengths

  • +Company has been maintaining a healthy dividend payout of 40.4%

Weaknesses

  • −Stock is trading at 3.87 times its book value
  • −The company has delivered a poor sales growth of 9.54% over past five years.
  • −Company has a low return on equity of 8.28% over last 3 years.

Shareholding Pattern

Promoters39.53%
FIIs16.1%
DIIs20.04%
Public24.34%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters39.61%39.59%▼0.039.59%39.58%▼0.039.56%▼0.039.53%▼0.039.53%39.53%
FIIs17.54%18.33%▲0.818.66%▲0.318.71%▲0.117.58%▼1.116.81%▼0.816.51%▼0.316.1%▼0.4
DIIs16.32%17.21%▲0.917.61%▲0.418.1%▲0.518.1%18.69%▲0.619.3%▲0.620.04%▲0.7
Public26.54%24.87%▼1.724.13%▼0.723.6%▼0.524.77%▲1.224.96%▲0.224.65%▼0.324.34%▼0.3

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,7541,9001,6881,6701,5881,5851,5051,8021,8421,994
Expenses1,5581,6931,5571,5181,4331,4381,3801,6181,6591,821
Operating Profit196207131153155147125184183172
OPM %11%11%8%9%10%9%8%10%10%9%
Net Profit91724010979358976280
EPS ₹3.472.751.520.43.713.552.23.722.373.06

AI Insights

Revenue Trend

Mar 2026 revenue at ₹7,143Cr, down 6.4% YoY. OPM at 9%.

Debt Position

Borrowings at ₹1,336Cr. Debt-to-equity ratio: 0.44x. Healthy balance sheet.

Capex Cycle

CWIP at ₹69Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 20.04% (+8.62pp change). FIIs: 16.1% (+5.36pp change). Promoters hold 39.53%.

Margin & Efficiency

ROCE declining from 15% (Mar 2015) to 11% (Mar 2026). Working capital days: -12.

Valuation

PE 43.9x with 10.9% ROCE. Price is 303% above book value of ₹117. Dividend yield: 0.78%.

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