Arvind EBITDA beats forecasts; Emkay keeps Buy rating and Rs700 target
Emkay Global Financial reports Arvind EBITDA up 25% yoy and 10% above its estimate, keeping a Rs700 target, according to TradingView.
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what happened
According to TradingView, citing Emkay Global Financial's research, Arvind posted consolidated EBITDA of Rs3.1bn, up 25% year on year and 29% quarter on quarter. The figure came in 10% above Emkay's estimate and 8% above the street consensus.
The textiles segment led the beat, with EBITDA of Rs1.9bn, 23% above Emkay's forecast. Fabric realisation rose about 11% yoy for wovens and about 13% for denim as the company passed on higher cotton yarn and dye costs. Even so, Arvind absorbed roughly 75bps (about Rs150mn) of costs, so textile margins slipped to 9.5% from 10% a year earlier. In Advanced Materials, India business grew 23% yoy and its margin improved to 14.8% from 13.5%.
why it matters
Emkay sees the sequential margin recovery in a difficult quarter as a positive sign and expects margins to keep rising. However, the expiry of the RoDTEP and RoSCTL schemes on 31 December 2026 could weigh on margins in the short term. Emkay retains its BUY rating and Rs700 target, based on a sum-of-the-parts valuation.
tags
instruments
sources
- Buy Arvind; target of Rs 700: Emkay Global Financial — TradingView, 29 October 2026 at 07:52 UTC
- Buy PNB Housing Finance; target of Rs 1400: Emkay Global Financial — TradingView, 29 October 2026 at 08:02 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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