ARVINDFASNArvind Fashions Ltd.
Arvind Fashions Q2 FY27 Results: Consolidated Net Profit ₹67.21 Crore on Total Income of ₹1,566 Crore
- Earnings
- Apparel retail
Reviewed byKeshav SehgalBlacklitt Research
Arvind Fashions (NSE: ARVINDFASN) reported consolidated total income of ₹1,565.82 crore and net profit of ₹67.21 crore for the quarter ended 30 Sep 2026, it said in a filing on 02 Nov 2026. Standalone total income was ₹237.98 crore and standalone net profit ₹1.41 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,565.82 crore, up 9.5% YoY and 21.8% QoQ
- Net profit and EPS: Net profit ₹67.21 crore, up 19.3% YoY; basic EPS ₹3.63 against ₹2.81
- Finance costs: ₹49.23 crore, up 18.3% YoY, or 3.1% of total income
- Revenue from operations: ₹1,558.83 crore, up 10.0% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹237.98 crore, down 16.6% YoY and up 71.1% QoQ
- Net profit and EPS: Net profit ₹1.41 crore against ₹36.09 crore a year earlier; basic EPS ₹0.10 against ₹2.70
- Other income: ₹4.40 crore, down 92.0% YoY from ₹54.73 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,565.82 | 1,430.52 | +9.5% | 1,285.51 | +21.8% | |
| Revenue from operations | 1,558.83 | 1,417.51 | +10.0% | 1,278.50 | +21.9% |
| Other income | 6.99 | 13.01 | -46.3% | 7.01 | -0.3% |
| 67.21 | 56.35 | +19.3% | 27.61 | +143.4% | |
| Profit before tax | 91.39 | 87.42 | +4.5% | 40.03 | +128.3% |
| Finance costs | 49.23 | 41.60 | +18.3% | 47.69 | +3.2% |
| Depreciation | 82.76 | 71.29 | +16.1% | 78.81 | +5.0% |
| Tax expense | 23.77 | 30.81 | -22.8% | 12.01 | +97.9% |
| Net profit margin | 4.29% | 3.94% | +0.35 pp | 2.15% | +2.14 pp |
| EPS, basic (₹) | 3.63 | 2.81 | +29.2% | 0.72 | +404.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income this quarter. Net profit rose 19.3% YoY to ₹67.21 crore while total income rose 9.5%, and profit before tax rose only 4.5% to ₹91.39 crore. Tax expense fell 22.8% to ₹23.77 crore against ₹30.81 crore a year earlier, so the gap between profit before tax and net profit is where the difference shows up.
Revenue from operations rose 10.0% YoY to ₹1,558.83 crore while other income fell 46.3% to ₹6.99 crore. Other income is 0.4% of total income and 7.6% of profit before tax, so the quarter's profit rests almost entirely on operations. The press release says gross margin expanded 136 bps to 53.9% and EBITDA, excluding other income, grew 15.5% to ₹216 crore, with the EBITDA margin up about 67 bps to 13.9%.
Finance costs rose 18.3% YoY to ₹49.23 crore, and depreciation rose 16.1% to ₹82.76 crore. Together they are larger than the 4.5% growth in profit before tax would suggest, and the filing gives no reason for the rise in finance costs. Against the quarter before, total income rose 21.8% and net profit rose from ₹27.61 crore to ₹67.21 crore; the prior quarter's consolidated profit attributable to owners of the parent was ₹9.57 crore, against ₹48.48 crore now.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 237.98 | 285.33 | -16.6% | 139.07 | +71.1% | |
| Revenue from operations | 233.58 | 230.60 | +1.3% | 135.81 | +72.0% |
| Other income | 4.40 | 54.73 | -92.0% | 3.26 | +35.0% |
| 1.41 | 36.09 | -96.1% | -15.40 | n/a | |
| Profit before tax | 1.88 | 44.40 | -95.8% | -20.63 | n/a |
| Finance costs | 8.69 | 7.43 | +17.0% | 8.99 | -3.3% |
| Depreciation | 15.12 | 17.13 | -11.7% | 13.87 | +9.0% |
| Tax expense | 0.47 | 8.31 | -94.3% | -5.23 | n/a |
| Net profit margin | 0.59% | 12.65% | -12.06 pp | -11.07% | +11.67 pp |
| EPS, basic (₹) | 0.10 | 2.70 | -96.3% | -1.15 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone entity's profit fell sharply. Net profit was ₹1.41 crore against ₹36.09 crore a year earlier, a fall of 96.1%, while revenue from operations rose 1.3% to ₹233.58 crore. The year-earlier quarter included dividend income from a subsidiary of ₹50.03 crore; the notes say dividend income from the subsidiary was nil in the current quarter and in the quarter before.
Standalone finance costs rose 17.0% to ₹8.69 crore and depreciation fell 11.7% to ₹15.12 crore. Standalone profit before tax was ₹1.88 crore, and tax of ₹0.47 crore is 25.0% of it. In the quarter ended 30 Jun 2026 the standalone entity reported a net loss of ₹15.40 crore, with a tax credit of ₹5.23 crore, so the quarter-on-quarter comparison is not meaningful for net profit.
Inference
The filing says the Board approved a Performance-linked Stock Units Scheme 2026 and the acquisition of 2,500 equity shares, or 25%, of Arvind Global Capability Center Private Limited. The filing does not state the price payable for those shares or the size or dilution of the PSU scheme, and the figures in the results do not show their effect.
The filing shows a dividend paid to equity holders of ₹21.38 crore in the six months, and the notes record a deferred tax charge of ₹6.19 crore from the Section 115BAA election in the year to 31 Mar 2026. The filing gives no reason for the rise in consolidated finance costs, and it does not say what the standalone other income fall means for future periods.
Filed with BSE on . Reference: Original filing (PDF)
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