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Arvind Limited's (Arvind's) Q2FY2021 revenues recovered to ~66%, better than ~32% recovery in Q1FY2021. Revenues declined by 33.5% y-o-y to Rs. 1,305.2 crore, lower than our expectation of Rs. 1,472 crore, largely impacted by slower recovery in the domestic market. Gross margins declined by 118 bps to 48.4%.
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Arvind Ltd is in the Textiles sector, having a market capitalization of Rs. 881.64 crores. It has reported a consolidated sales of Rs. 1,305.17 crores and a net profit of Rs. 0.70 crores for the quarter ended September 2020.
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