Arvind Ltd

Arvind Ltd: Trading window closed from 1 October 2026 till forty-eight hours of announcement of Unaudited Financial Results for the quarter and half year ending on 30 September 2026

AGM details

• AGM held on September 22, 2026 at 11:00 AM via VC/OAVM.
• Voting window: Sep 19-21, 2026; record date: Sep 15, 2026; total members on record: 199,714.
• Meeting conducted through Video Conferencing / Other Audio Video Means.

Resolutions and outcomes

• Ordinary: Adoption of Audited Standalone and Consolidated Financial Statements; passed.
• Ordinary: Declaration of dividend on equity shares for the year ended 31 March 2026; passed.
• Ordinary: Re-appointment of Punit Lalbhai as Director, liable to retire by rotation; passed.
• Ordinary: Re-appointment of Kulin Lalbhai as Director, liable to retire by rotation; passed.
• Ordinary: Ratification of remuneration of Kiran J. Mehta & Co., Cost Accountants; passed.
• Special: Payment of Commission to Whole-time Directors up to one percent of net profits; passed.
• Ordinary: Remuneration of Kiran J. Mehta & Co., Cost Accountants; passed.
• Overall, all resolutions passed with near-unanimous support.

AGM Details

• AGM held on Sep 22, 2026, 11:00–11:52 IST via VC/OAVM.
• Remote e-voting from Sep 19–21, 2026; record date Sep 15, 2026.

Resolutions Transacted

• Adoption of Audited Financial Statements including Consolidated Financial Statements for FY2026 (Ordinary).
• Declaration of final dividend for FY2026 (Ordinary).
• Re-appointment of Mr. Punit Lalbhai by rotation (Ordinary).
• Re-appointment of Mr. Kulin Lalbhai by rotation (Ordinary).
• Ratification of remuneration of M/s. Kiran J. Mehta & Co., Cost Accountants for FY2026 (Ordinary).
• Payment of Commission to non-executive Directors up to 1% of net profits (Special).

Target and deal overview

• Target: Torrent Urja 21 Private Limited; energy/power sector; country not disclosed.
• Acquired 26.60% equity shares.
• Completion date: September 17, 2026.
• Form of consideration not disclosed.
• Regulatory approvals not disclosed.
• Related-party status not disclosed.
• Strategic rationale not disclosed; under the Power Transfer Agreement and SSHA.
• Background: incorporation date and turnover not disclosed.

Meeting Details

• Date: 17 September 2026 (Thursday).
• Investor: LIC Mutual Fund; Place/Mode: Ahmedabad (physical).
• Time: not disclosed.

Participants

• Company participants: senior management to attend.

Purpose

• Purpose: investor interactions with LIC Mutual Fund.

Additional Notes

• Schedule may change due to exigencies on the part of investor/company.

AGM notice and e-voting details

• Intimation of AGM for FY2025-26 and access to Integrated Annual Report via arvind.com.
• Letters dispatched to shareholders without registered emails directing to AR and AGM notice.
• AGM scheduled for 22 September 2026 at 11:00 IST via VC/OAVM.
• Remote e-voting window from 19 September to 21 September 2026; cut-off 15 September.
• Voting through NSDL; members attending AGM may vote if not already cast.
• Speaker registration for AGM open until 15 September 2026.

Record date and dividend details

• Record date: 4 September 2026 for final dividend of Rs 4.50 per equity share.
• Dividend pertains to FY2026 ended 31 March 2026.

Financial Highlights

• Revenue from operations: ₹9,303 cr.
• PAT attributable to owners: ₹413.94 cr.
• Basic EPS: ₹15.80.
• Final dividend: ₹4.50 per share.
• Domestic revenue: ₹5,024.95 cr.
• Textiles revenue: ₹6,823.14 cr.
• Advanced Materials revenue: ₹1,822.46 cr.
• Dalco-GFT acquisition: 61% stake acquired.
• Arvind Advanced Materials US TopCo acquired for USD 58 million.
• Lender covenant breach; grace period until 31 March 2027.

Overview of rating action

• CARE upgraded Arvind's long-term rating to AA (Stable) from AA- (Stable).

Instruments rated

• Long-Term Bank Facilities: ₹492.90 cr, CARE AA; Stable (upgraded).
• Long-Term/Short-Term Bank Facilities: ₹1,549.98 cr, CARE AA; Stable / CARE A1+ (LT upgraded; ST reaffirmed).
• Short-Term Bank Facilities: ₹1,001.01 cr, CARE A1+ (Reaffirmed).
• Commercial Paper (Carved Out): ₹300 cr, CARE A1+ (Reaffirmed).

Rationale and drivers

• Diversified advanced materials/garment mix supports strengthened profile.
• Dalco acquisition adds scale, non-woven capabilities, US market access.
• Sustained margin stability and improved ROCE; stronger balance sheet.
• Debt funded acquisition led to higher debt; ₹500 crore equity infusion enhanced liquidity.
• Strong liquidity position with expected deleveraging to FY28.

Outlook and sensitivities

• Outlook: Stable.
• Positive factors: debt reduction, PBILDT margin ~14%, Adjusted ROCE ~20%.
• Negative factors: profitability decline, net-debt/PBILDT >2x, longer operating cycle.

Material changes since last rating

• Long-term rating upgraded to AA from AA-; short-term rating reaffirmed; outlook unchanged.

Key financials mentioned

• FY26 TOI ₹9,335 cr; PAT ₹427 cr; ROCE 13.11%.