Latest news with #ArvindLtd
News18
11 hours ago
- Business
- News18
Arvind Ltd profit rises 25 pc to Rs 54.7 cr in Q1
Agency: Last Updated: New Delhi, Jul 29 (PTI) Leading textile manufacturer Arvind Ltd on Tuesday reported a 25.08 per cent increase in consolidated net profit at Rs 54.7 crore during the June quarter. The company had posted a net profit of Rs 43.73 crore in the year-ago period, according to a regulatory filing from Arvind Ltd. Its revenue from operations was up 9.6 per cent at Rs 2,006.32 crore during the quarter under review. It was at Rs 1,830.60 crore in the corresponding period of the previous fiscal year. 'The result reflected stable performance in both volumes and revenue, underscoring steady demand and improving operational efficiency across the segments, despite the backdrop of global uncertainty and shifting geopolitical dynamics," said Arvind in its earning statement. Moreover, Q1 FY26 reflected the impact of shifting sourcing strategies due to new US tariffs and industry-wide cost pressures. 'Despite these headwinds, the company recorded healthy volume growth in its core fabric and garmenting businesses, and remains on track to deliver stronger revenue and margin performance in the second half of the year, in line with its traditional 40:60 H1-H2 split," it said. Its revenue from textiles was at Rs 1,535.87 crore, up 13.76 per cent in the June quarter. 'In Q1 FY26, Arvind's fabric business, including denim and woven, delivered high single-digit volume growth, supported by improved realisations, resulting in double-digit revenue expansion," it said. Similarly, revenue from advanced materials was at Rs 351.24 crore, up 6.82 per cent. The advanced materials division faced 'order deferment in the business segment aligned to defence sector and tariff-driven procurement pause in composite projects. In addition to lower growth, the division also witnessed margin pressure in Q1 FY26 due to tariff-related cost absorption". However, with a strong order pipeline and cost optimisation measures underway, the division is expected to recover during the second half of the current fiscal year. Arvind's total expenses in the June quarter were at Rs 1,939.25 crore, up 8.36 per cent. On the guidance for Q2 and FY26, Arvind said both the Textiles and Advanced Materials Division are witnessing robust order inflows, signalling increased global interest in India as a sourcing destination. 'Business performance is projected to improve significantly in H2, with both garment and AMD segments poised for double-digit growth and margin expansion," it said. On the capex, Arvind said a 'capital investment of Rs 450-475 crore is planned for FY26, with all ongoing projects progressing as scheduled to support capacity expansion and long-term growth." Shares of Arvind Ltd on Tuesday settled at Rs 332 on the BSE, down 1.10 per cent from the previous close. PTI KRH TRB view comments First Published: July 29, 2025, 17:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
7 days ago
- Business
- Time of India
Key facts about India-UK free trade deal as PM Modi, Starmer set to sign FTA soon
Britain and India are set to formally sign a free trade agreement on Thursday during Prime Minister Narendra Modi's UK visit, following three years of negotiations. The deal then needs approvals from the British parliament and India's federal cabinet, likely within a year. Here are the key points of the agreement: Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity Finance Management Product Management healthcare MBA Degree Operations Management others MCA PGDM Leadership Project Management Data Analytics Healthcare Public Policy Others Digital Marketing Artificial Intelligence Design Thinking Data Science Data Science CXO Technology Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details TARIFF CUTS India to reduce tariffs on nearly 90% of UK goods Whisky and gin levy to fall from 150% to 75%, then to 40% in a decade Live Events Automobile tariff to fall from 100%-plus to 10% under quota Tariffs to be cut on other goods including cosmetics, medical devices, salmon, chocolates, biscuits UK to offer duty-free access to 99% of Indian items, according to Indian commerce ministry, covering nearly 100% of trade value BENEFITS FOR INDIAN SECTORS Indian exports such as textiles, footwear, gems & jewellery, furniture, auto components, chemicals, machinery, sports goods and other items likely to have zero duties, down from current levels of 4%-16% in the UK. SERVICES According to Indian commerce ministry, the UK will provide assured access for temporary stay to business visitors and contractual service providers as well as to yoga instructors, chefs and musicians. Indian workers working temporarily in the UK and their employers will be exempted from paying social security contributions in the UK for three years, with savings estimated at about 40 billion rupees ($463 million) annually. UK FIRMS TO GET ACCESS TO INDIAN GOVERNMENT PROCUREMENT India will provide access to British suppliers for non-sensitive government procurement tenders in the federal government, with a threshold of 2 billion rupees. The deal will give UK businesses access to India's public procurement market, comprising about 40,000 tenders with a value of about 38 billion pounds a year, according to UK government estimates. BOOST TO UK ECONOMY The trade pact is expected to increase UK GDP by 4.8 billion pounds ($6.5 billion) annually in the long term, according to British government estimates, with consumers getting access to cheaper garments, footwear and food items from India. INDIAN FIRMS TO BENEFIT Indian textile and apparel manufacturers such as Welspun India , Arvind Ltd , Raymond , Vardhman likely to benefit from duty-free access for exports to the UK. Footwear manufacturers such as Bata India , Relaxo , auto manufacturers like Tata Motors , Mahindra Electric and also Bharat Forge could benefit, according to industry analysts. UK COMPANIES UK firms including whisky distiller Diageo, auto manufacturer Aston Martin and Tata-owned Jaguar Land Rover could benefit from access to fast-growing Indian market.
Economic Times
08-07-2025
- Business
- Economic Times
Gokaldas Exports, other textile stocks zoom up to 8% as US slaps 35% tariff on Bangladesh
The newly announced tariff, set to take effect on August 1, is slightly lower than the 37% rate initially proposed in April. Nevertheless, it remains well above the standard 10% baseline and is likely to affect Bangladesh's competitiveness in the global garment supply chain. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Indian textile companies including Gokaldas Exports Vardhman Textiles , and Arvind Ltd zoomed up to 8.2% in intraday trade on Tuesday, July 8, after the US administration, under President Donald Trump, announced a 35% tariff on Bangladesh, with specific implications for the apparel and textile shares of Gokaldas Exports surged 8.2% on Tuesday, reaching a high of Rs 974.70, and leading the gains among textile stocks . Vardhman Textiles shares followed closely, rising 7.9% to touch Rs 537.70. KPR Mill shares climbed 4% to reach Rs 1,204.85 during the session, while the shares of Arvind Ltd gained 2.9%, hitting an intraday high of Rs newly announced tariff, which takes effect from August 1, is a slight drop from the 37% rate that had been proposed earlier in April. However, it still stands significantly above the standard 10% tariff baseline and is expected to impact Bangladesh's competitiveness in the global garment supply the US has left the door open for negotiations in the weeks leading up to the implementation, the announcement has already prompted a reassessment of sourcing strategies among American tariff escalation comes on the heels of a recent trade agreement signed between the US and Vietnam, which imposes a 20% tariff on direct Vietnamese exports and a steeper 40% duty on transshipped goods—exports routed through Vietnam but originating in other countries to bypass tariff India faces a 10% tariff on textile exports to the US, but due to product classifications and differential rates, some segments experience tariffs as high as 26%. The shift in tariff dynamics is expected to realign competitive advantages, especially if further negotiations tilt in India's is likely to closely track the developments around a potential trade agreement between India and the US, especially after the return of an Indian delegation from Washington last week. Any easing of tariff burdens on Indian textile exports during such a deal could help improve India's price competitiveness and expand its market share in the it should be noted that if tariff levels remain unchanged for Indian goods while others are adjusted downward, especially for Vietnam, India's advantage in the export market may narrow.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
09-06-2025
- Business
- Time of India
Good chance that India and EU will finalise trade deal by year-end: Finnish ambassador
Finland's Ambassador to India, Kimmo Lahdevirta , expressed confidence on Monday about finalising a much-awaited trade deal between India and the European Union (EU) by year-end. The ambassador inaugurated the honorary consulate of Finland in Ahmedabad. Kulin Lalbhai, a prominent businessman from Gujarat and Vice Chairman of Arvind Ltd , has been appointed as the Honorary Consul of Finland. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like I lost my wife, now my son is in danger, please help him! Donate For Health Donate Now Undo The Finnish ambassador termed as "historic" the visit of the European Union College of Commissioners to India in February, stressing for a solution agreeable to both parties. "It was a really historic visit, and I think it also created very good momentum for the negotiations to go ahead. I think both leaders on the European side and India are now committed to the goal of having an agreement by the end of this year," he told reporters. Live Events Admitting that a lot of work needs to be done, Lahdevirta emphasised there is a good chance to achieve this goal. "At the moment, I would say that the momentum and the prospects are very good," he added. Lahdevirta said the overall annual trade between India and Finland is nearly 3 billion Euros. When asked about Finland's views on the outcome of the trade deal, he stressed "meaningful" tariffs on industrial goods. "Well, from our side, of course, a meaningful tariff level for industrial goods is very important. But it is of course important to reach a solution which both sides feel is just and beneficial. So, finding the balance is the key. But I don't want to go into more specifics here. It's up for the European Commission (to decide)," he said. He said a Finnish business delegation led by him will meet the representatives of the Gujarat government on Tuesday, and added that several Finnish companies are interested in investing. He said the honorary consulate reflects the deepening partnership between India and Finland and growing business interest. "Nearly 10 Finnish companies are already present in Gujarat. Our cooperation has focused on energy, but today, Finnish companies are engaged across multiple sectors: clean energy, circular economy, skilling, smart infrastructure, and sustainable design. Gujarat offers an ideal environment for these collaborations to flourish," the ambassador said. He said Finnish companies are contributing to Gujarat's growth and development goals through world-class technologies, sustainable solutions, and investments.
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Business Standard
09-06-2025
- Business
- Business Standard
India-EU trade deal likely to finalise by year-end, says Finnish ambassador
Finland's Ambassador to India, Kimmo Lhdevirta, expressed confidence on Monday about finalising a much-awaited trade deal between India and the European Union (EU) by year-end. The ambassador inaugurated the honorary consulate of Finland in Ahmedabad. Kulin Lalbhai, a prominent businessman from Gujarat and Vice Chairman of Arvind Ltd, has been appointed as the Honorary Consul of Finland. The Finnish ambassador termed as "historic" the visit of the European Union College of Commissioners to India in February, stressing for a solution agreeable to both parties. "It was a really historic visit, and I think it also created very good momentum for the negotiations to go ahead. I think both leaders on the European side and India are now committed to the goal of having an agreement by the end of this year," he told reporters. Admitting that a lot of work needs to be done, Lhdevirta emphasised there is a good chance to achieve this goal. "At the moment, I would say that the momentum and the prospects are very good," he added. Lhdevirta said the overall annual trade between India and Finland is nearly 3 billion Euros. When asked about Finland's views on the outcome of the trade deal, he stressed "meaningful" tariffs on industrial goods. "Well, from our side, of course, a meaningful tariff level for industrial goods is very important. But it is of course important to reach a solution which both sides feel is just and beneficial. So, finding the balance is the key. But I don't want to go into more specifics here. It's up for the European Commission (to decide)," he said. He said a Finnish business delegation led by him will meet the representatives of the Gujarat government on Tuesday, and added that several Finnish companies are interested in investing. He said the honorary consulate reflects the deepening partnership between India and Finland and growing business interest. "Nearly 10 Finnish companies are already present in Gujarat. Our cooperation has focused on energy, but today, Finnish companies are engaged across multiple sectors: clean energy, circular economy, skilling, smart infrastructure, and sustainable design. Gujarat offers an ideal environment for these collaborations to flourish," the ambassador said. He said Finnish companies are contributing to Gujarat's growth and development goals through world-class technologies, sustainable solutions, and investments.
