ARVIND

By Aditya Kalra

NEW DELHI, Sept 4 (Reuters) - India's overhaul of consumer tax stands to make everything from soaps to luxury SUVs cheaper, but global fashion brands such as Zara, Levi Strauss LEVI.N and Lacoste have been spooked by higher levies on all apparel priced at more than $29.

The premium wear segment accounts for about 18% of an apparel industry worth $70 billion, says Datum Intelligence, spurred by a growing number of nouveau riche and brand-conscious youngsters in India.

The biggest tax reform in eight years by Prime Minister Narendra Modi's government cuts levies to 5% on garments costing less than 2,500 rupees ($29), but items priced above that figure now face a higher levy of 18%.

That will pile pressure on the likes of PVH Corp PVH.N, Marks and Spencer MKS.L, Gap Inc GPS.N, Under Armour UAA.N, Nike NKE.N, H&M HMb.ST and Japan's Uniqlo 9983.T.

Fashion companies worry about the impact of higher taxes on sales, since aspirational young people consider such purchases as a lifestyle upgrade, but remain sensitive to price, said two Indian garment executives dealing in foreign brands.

"Retail works on wafer-thin margins, and overheads like rents are extremely high," said the chief executive of a foreign garment brand operating in India, who sought anonymity for fear of government reprisal. "Growth that we were expecting earlier won't come now."

The official added, "This is not a luxury. The 2,500-rupee price point is basic now."

The higher taxes are also a double whammy for domestic garment makers whose thriving U.S. exports business is also reeling from President Donald Trump's tariffs of 50%.

India's reform has not only drastically cut consumption levies on daily essentials and consumer electronics, but dealt a surprise win on Wednesday for pricey SUVs, reducing their tax rate to a flat 40%, versus up to 50% earlier.

Carmaker Mercedes-Benz has been reporting record sales in recent months, as consumption surges.

The higher rate on apparel could spell the "death knell for the industry", the Clothing Manufacturers Association of India has said, as items costing more than 2,500 rupees are "consumed in large numbers by the common man and middle class".

Most of the 875 new arrivals listed on Superdry India's website, for example, are subject to the new 18% tax, with many jackets on offer priced upwards of $170 and shirts at $60.

On the Lacoste India website, men's T-shirts can cost as much as $99, with not one priced below $29, the new threshold for the higher tax, set to take effect on September 22.

TARIFF TO WEDDINGS

In press statements, the Association has flagged worries about the impact of the higher tax adding to the fallout from Trump's tariff salvo.

India's Arvind Fashions ARVF.NS for example, holds domestic franchisee rights for Tommy Hilfiger and Calvin Klein retail, but its affiliate, Arvind Ltd ARVN.NS, makes foreign brands for export to destinations including the United States, which has a share of roughly 30%.

The Arvind Group did not respond to a request for comment.

In India, foreign premium brands have been luring affluent youngsters by adding retail outlets and e-commerce offerings. Lululemon Athletica LULU.O plans to enter the market in 2026.

The tax hikes will also apply to apparel from luxury goods makers Louis Vuitton LVMH.PA, Dior DIOR.PA and Versace.

Some customers may opt for cheaper more tax-efficient purchases while travelling abroad, but the hike to 18% from an earlier slab of 12% will have limited impact on India's rich, said one luxury industry executive.

Another area of expenditure set for a hit will be clothes bought for weddings. Lavish marriage celebrations are big business, and urban families can easily spend thousands of dollars on items from traditional sarees to men's jackets.

"Putting these clothes in the 18% slab will result in parents compelled to make inferior clothing for their favourite child on their favourite day," the clothing association said.

(Reporting by Aditya Kalra; Additional reporting by Dhwani Pandya and Praveen Paramasivam; Editing by Clarence Fernandez)

((Email: [email protected]; X: @adityakalra;))

** Indian textile stocks down between 1% and 3%

** Trump executive order imposes additional 25% tariff on goods from India for Russian oil trade

** KPR Mill KPRM.NS leads decline with 2.6% drop, Gokaldas Exports' GOKL.NS down 2.2%

** Welspun Living WLSP.NS, Vardhman Textiles VART.NS Indo Count ICNT.NS down ~2%; Trident TRIE.NS drops 1%

** WLSP, GOKL, ICNT, TRIE derive 40%-70% of their revenues from the U.S.

** They fell 3%-7% on July 31 when Trump announced 25% tariffs on Indian products, along with undisclosed penalty for New Delhi's trade with Moscow

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Arvind ARVN.NS fall 1.7% to 325 rupees

** On Tuesday, stock was up about 5% on strong quarterly earnings

** Antique, among top 2 analysts on ARVN for rating accuracy, per LSEG data, maintains "buy" rating but cuts TP to 453 rupees from 470 rupees

** Brokerage says tariff uncertainty in the U.S. remains a concern, given market's large share in co's revenue

** It cuts FY26/27 earnings estimates on margin contraction

** ARVN rated "strong buy" by 7 analysts on average; median TP is 451 rupees – data compiled by LSEG

** Stock down 20.6% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

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July 29 (Reuters) - Arvind Ltd ARVN.NS:

• ARVIND JUNE-QUARTER CONSOL NET PROFIT 532.4 MILLION RUPEES

• ARVIND JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 20.06 BILLION RUPEES

Further company coverage: ARVN.NS

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July 17 (Reuters) - Arvind Ltd ARVN.NS:

• BUYS EQUITY SHARES OF ARVIND FASHIONS WORTH 91.5 MILLION RUPEES

Source text: ID:nBSE17MX4w

Further company coverage: ARVN.NS

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Rewrites, adds post-earnings commentary

By Ananta Agarwal and Hritam Mukherjee

May 15 (Reuters) - Indian textile manufacturer Arvind's ARVN.NS margins may come under pressure in the first two quarters of the ongoing fiscal year, as it partly absorbs the impact of U.S. tariff policy, a company executive said on Thursday.

Top U.S. retailers have been haggling with suppliers over how the costs that U.S. tariffs are set to impose might be distributed, Reuters has reported.

Arvind said it will strive to reduce costs and increase volumes to lessen the pressure on margins and pause all non-critical and discretionary capital expenditure until there is clarity on tariffs.

It also did not provide a forecast for the fiscal year due to "prevailing uncertainty" and plans to issue one "at a later stage".

Its shares closed down about 5% after the comments, despite a 52% year-on-year increase in its fourth-quarter net profit to 1.51 billion rupees ($17.64 million).

"The demand situation is the most robust we have seen in recent memory," Arvind's vice chairman Punit Lalbhai said in a post-earnings call, adding that customers are talking about volume increases and advancing orders.

India remains in a comparatively favorable position due to the heftier tariffs that could hit bigger U.S. garment suppliers such as Bangladesh, Vietnam and China, from July.

Exports made up nearly 40% of Arvind's annual revenue in fiscal year 2024, according to its annual report.

Part of the volume benefit could come from the UK-India free trade agreement, the company said, as the pact will open up a new "key geography". UK currently makes up less than 2% of its business.

($1 = 85.5800 Indian rupees)

(Reporting by Ananta Agarwal and Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)

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** Shares of India's textile makers rise after Britain and India sign major trade agreement

** India's trade ministry said 99% of Indian exports would benefit from zero duty under the deal, including textiles

** Textile makers Gokaldas Exports GOKL.NS, Arvind Ltd ARVN.NS, K.P.R. Mill KPRM.NS, and Kitex Garments KITE.NS were up 7.2%, 3.3%, 7.9%, and 5%, respectively

** "India has advantage of cheap labour cost and high cotton supply, which benefit the domestic textile producers in long run," ICICI Securities said

** Adds, cos with integrated business model and high standards of quality production like Gokaldas Exports, KPR Mills, SP Apparels, Indo Count ICNT.NS and Welspun Living WLSP.NS will benefit from the pact in medium to long run

** ICNT jumps 6.5% and WLSP gains 7.3%

** ICICI Securities also says lower tariffs on footwear products is positive for Indian footwear companies such as Bata India BATA.NS, Metro brands METB.NS, Relaxo footwear RLXO.NS to explore opportunities in the UK market

(Reporting by Vijay Malkar)

(([email protected];))

** Textile stocks gain between 4% and 9%; Vardhman Textiles VART.NS, with presence in more than 75 countries, top gainer, soaring 8.9%

** Arvind ARVN.NS rises 4.3%, KPR Mill KPRM.NS advances 6.5%, Nitin Spinners NISP.NS jumps 4.45% and Gokaldas Exports gains 8.16%

** Donald Trump's 26% reciprocal tariffs on India lower than those on competitors like Bangladesh (37%), Vietnam (46%) and Cambodia (49%)

** Ajay Sahai, Director General at Federation of Indian Export Organizations, says, "We will be looking for some diversion of business from other countries to India"

** "For India, the advantage is a potential bilateral trade agreement with the U.S."

** Tiruppur Exporters' Association, seeking certain quantity of duty-free cotton exports to the U.S., says it is in talks with ministries

(Reporting by Ananta Agarwal in Bengaluru and Praveen Paramasivam in Chennai)

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Jan 28 (Reuters) - Arvind Ltd ARVN.NS:

• ARVIND LTD - CAPEX PROGRAMS FOR FY25 EXPECTED TO TOUCH 4-4.5 BILLION RUPEES

Source text: ID:nNSE4ZLNb7

Further company coverage: ARVN.NS

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Dec 19 (Reuters) - Arvind Ltd ARVN.NS:

• INVESTS 249.9 MILLION RUPEES IN SUBSIDIARY ARVIND ADVANCED MATERIALS

Source text: ID:nNSE3tqNXn

Further company coverage: ARVN.NS

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Oct 28 (Reuters) - Indian clothing retailer Arvind ARVN.NS posted a 19% rise in second-quarter pre-tax profit on Monday, aided by strong textiles demand as customers splurged on clothes ahead of the festive season, sending its shares 5% higher.

The company, which sells international brands such as Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated profit before tax rose to 1.35 billion rupees ($16.1 million), from 1.14 billion rupees a year earlier.

Demand for textiles remained strong during the festive season, as wealthy domestic consumers spent more, analysts noted.

The company said volume growth in its mainstay textile segment was mainly due to new customer acquisition and better demand.

Arvind posted a near 14% rise in revenue from operations, while revenue from its core textile segment, which accounts for nearly 74% of total sales, grew 12%.

The advanced materials segment (AMD), through which Arvind makes fabrics and protective gear for construction work, grew 9%.

Textile division has a buoyant order book, and is expected to do well in the second half of the financial year, Arvind said in its investor presentation, adding that AMD is expected to do well and touch a volume growth of 20%.

Its total expenses rose 13% to 20.66 billion rupees, which led earnings before interest, tax, depreciation and amortization (EBITDA) margin to contract to 10.1% from 10.7% a year ago.

The company reported an increase in deferred tax provision worth 293.5 million rupees during the quarter.

Last week, rival Shoppers Stop SHOP.NS reported a loss for a second straight quarter, as high inflation led customers to cut back on discretionary spending.

($1 = 84.0725 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Rashmi Aich)

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Sept 9 (Reuters) - Arvind Ltd ARVN.NS:

• ARVIND - MADE FURTHER INVESTMENT OF 480 MILLION RUPEES IN UNIT ARVIND TECHNICAL PRODUCTS

Source text for Eikon: ID:nBSE9YVtT3

Further company coverage: ARVN.NS

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** Shares of Indian textile companies and garment makers surge between 3-11%

** Welspun Living WLSP.NS climbs 9%, Trident TRIE.NS up 8%, Gokaldas Exports GOKL.NS jumps 11%

** KPR Mill KPRM.NS rises 6%, Arvind ARVN.NS gains 4.3%, Arvind Fashions ARVF.NS is up 3.5%, Go Fashion GOFA.NS gains 3%

** Political unrest in Bangladesh is expected to disrupt the country's clothing industry, potentially affecting global apparel retailers

** Bangladesh was the third-largest clothing exporter in the world last year

** There are some hopes that because of political unrest, big brands outsourcing their manufacturing in Bangladesh may see India as an option - Pratik Tholiya, analyst with Systematix

** Some of the business may come to India. But, the manufacturing setup in India is not as robust as Bangladesh - Tholiya

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of Arvind Ltd ARVN.NS down 2.7% at 375.80 rupees

** Textile manufacturer's Q1 consol profit falls 40%, as strikes hurt sales

** Over 2 mln shares traded, 2.8x 30-day avg volume

** Seven analysts tracking ARVN rate it "strong buy" on avg; median PT is 458 rupees - LSEG data

** Stock trims YTD gains to 48%

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of textile co Arvind ARVN.NS rise as much as 3.6% to 388.74 rupees

** Co says workers at one of its plants have called off a strike after Labour Court declared it illegal

** Adds, operations are getting back to normal

** Analysts' avg rating on the stock is "strong buy", median PT is 445.50 rupees

** Including session's gains, stock is up ~45% so far this year

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected]))

June 12 (Reuters) - Arvind Ltd ARVN.NS:

• UPDATE ON ILLEGAL STRIKE AT SANTEJ PLANT OF COMPANY

• STRIKE WAS DECLARED ILLEGAL BY LABOUR COURT VIDE AN ORDER DATED JUNE 6, 2024

• STRIKE HAS BEEN CALLED OFF BY WORKERS

• OPERATIONS OF CO AT SANTEJ PLANT WHICH WERE PARTIALLY IMPACTED DUE TO STRIKE ARE GETTING TO NORMALCY

• CO HAS ESTIMATED POTENTIAL LOSS OF REVENUE OF AROUND 1.8-2 BILLION RUPEES AND REDUCTION IN EBIDTA OF ABOUT 600-650 MILLION RUPEES

Source text for Eikon: ID:nBSE90T8hX

Further company coverage: ARVN.NS

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May 22 (Reuters) - Arvind Ltd ARVN.NS:

• ARVIND LTD - OPERATIONS OF PLANT SITUATED IN GUJARAT PARTIALLY AFFECTED IN VIEW OF STRIKE BY WORKERS DEMANDING HIGHER WAGES ETC

Source text for Eikon: ID:nBSE2NJGqk

Further company coverage: ARVN.NS

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** Shares of clothing retailer Arvind ARVN.NS rise 10% to a record high of 366.5 rupees

** Co reported a rise in Q4 consol net profit on stable textile demand, rev from ops grew 10%

** Brokerage Nuvama ups PT on stock by 7% to 375 rupees, retains "Buy" rating

** We bake in 18% compound annual growth rate for overall sales over next two years on strong demand outlook - Nuvama

** Antique Stock Broking ups PT to 455 rupees from 358 earlier, maintains "Buy"

** Sees growth in co's advanced materials and garments segments as demand is showing signs of recovery

** At least three brokerages hiked PTs post results, analysts' avg rating is "Buy", median PT is 435 rupees

** Including session's gains, stock is up 32% so far this year

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

BENGALURU, May 6 (Reuters) - Indian clothing retailer Arvind Ltd ARVN.NS posted a 2.1% rise in fourth-quarter profit as demand for its textiles remained steady.

The company, which sells international brands like Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated net profit rose to 990.3 million rupees ($11.9 million) from 970 million rupees a year earlier.

Indian retailers are overcoming sluggish demand and restrained consumer spending by rapidly offering products at discounts to sway consumers.

However, they continue to see slower volume growth amid increasing competition.

Arvind posted a 10.3% rise in revenue from operations, while revenue from its core textile segment, which accounts for nearly 72% of total sales, grew 5%.

The company said it saw a recovery in denim sales during the quarter, while garments and woven products sales grew.

The advanced materials segment, through which Arvind makes fabrics and protective gear for construction work, grew about 21%.

"With inventory correction behind and fresh order booking and onboarding of new customers, demand outlook is positive for the financial year 2025," the company said in its investor presentation.

The retailer added that it plans to raise its capital expenditure to 4-4.50 billion rupees for new projects.

Additionally, it approved a dividend of 4.75 rupees per share, including a one-time special dividend.

Rival Shoppers Stop SHOP.NS reported a 53% rise in fourth-quarter profit, helped by demand in its beauty segment as well as luxury products.

Tata Group-owned Trent TREN.NS posted a five-fold jump in quarterly profit as it opened more of its lower-priced Zudio brand of stores.

($1 = 83.4675 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sohini Goswami)

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Jan 30 (Reuters) - Arvind Ltd ARVN.NS:

• ARVIND DEC-QUARTER CONSOL NET PROFIT 917 MILLION RUPEES VERSUS PROFIT 841.2 MILLION RUPEES

• ARVIND DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 18.88 BILLION RUPEES VERSUS 19.8 BILLION RUPEES

Further company coverage: ARVN.NS

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** Branded retailer Arvind Fashions ARVF.NS deserves higher valuation, given portfolio of marquee brands, lean balance sheet, and ample room for margin expansion- Nuvama

** Brokerage calls stock a "long-term" recommendation

** Initiates with "buy" and street high TP 660 rupees

** TP represents 39% premium to current price; Median TP at 544 rupees; Stock up 0.8% at 475 rupees on Thursday

** Nuvama sees revenue/EBITDA CAGR of 12%/22% (ex-Sephora) over FY23–26 and EBITDA/PAT CAGR of 22%/91%

** Says U.S. Polo Assn, Tommy Hilfiger, Calvin Klein generating healthy operating cash flows

** ARVF gained 19% in 2023 and is already up 16% so far this month

** ARVF is rated "strong buy" along with peer Go Fashion GOFA.NS - LSEG data

(Reporting by Sethuraman NR)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of Arvind ARVN.NS rise as much as 9.69% to a record high of 252.90 rupees apiece

** Brokerage Avendus Spark initiates coverage of the textiles maker with a "buy" and a target price of 352 rupees, an implied upside of 52.4%

** Cash flow allocation, operational structure have improved since ARVN underwent transformations in textile businesses in 2018 - Spark

** Estimates revenue compound average growth rate (CAGR) of 13% from fiscal 2024 to 2026 led by advanced materials and garments segments

** Sees diversion of cash flow from core textile business to margin-lucrative advanced materials business as a potential driver of improved capital efficiency

** Including session's gains, ARVN shares up 175% in 2023 so far - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Brokerage Antique Stock Broking starts coverage of India's Arvind Fashions ARVF.NS with a "buy" rating and TP of 565 rupees

** Says co, which retails brands like Arrow and Calvin Klein (CK), has "very strong portfolio" of brands in fast-growing casual wear category

** Focus over the next 2-3 years on scaling up existing brands and not new additions, ARVF well placed to revive Arrow, CK, Tommy Hilfiger and Flying Machine brands - note

** Adds optimism on the back of strong casual apparel market, CK's potential to turn into a power brand, corrective actions for improving supply chain and working capital

** Mean recommendation of 5 analysts is equivalent to "strong buy"; median TP is 505 rupees - LSEG data

** Stock last up 1.4%, taking YTD gains to over 26%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

BENGALURU, Nov 7 (Reuters) - India's Arvind Fashions ARVF.NS reported a 18.9% rise in the second-quarter profit on Tuesday, aided by healthy sales of clothing and footwear and as power brands helped it maintain wider margins.

The Bengaluru-based company's consolidated net profit rose to 216.6 million rupees ($2.60 million) for the quarter ended Sept. 30 from 182.2 million rupees a year earlier, sending its shares up as much as 8%.

While consumer demand continued to remain soft, Arvind Fashions' strong performance in the multi-brand outlet channel and tighter control over inventories resulted in higher profit, the company said.

The earnings before interest, taxes, depreciation, and amortization (EBITDA) margin improved by about 50 basis points from a year ago, it added.

Fashion retailers have seen a shift in demand due to a delayed festive season, which for 2023, began late October.

Usually, the festive season aids companies clock higher annual sales as customers spend on clothes, accessories and footwear.

Arvind Fashions, which has a portfolio of owned and licenced international brands such as Arrow and Calvin Klein, said its consolidated revenue from operations rose 7% to 12.67 billion rupees in the September quarter.

Revenue from so-called power brands like US Polo and Tommy Hilfiger, which accounts for more than 80% of the total, rose 5%.

The company's emerging brands segment clocked a 19% jump in revenue while the footwear segment posted revenue growth of about 20%.

Last week, Arvind Fashions exited its Sephora India business as the company sold its beauty brands division to billionaire Mukesh Ambani's retail unit Reliance Retail.

Rival Shoppers Stop SHOP.NS last month reported a drop in the second-quarter profit.

Tata Group-owned Trent TREN.NS, that operates retail chain Westside, reported a near three-fold surge in profit on Tuesday.

($1 = 83.2600 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru; Editing by Mrigank Dhaniwala)

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Recasts with details from Reliance, Arvind Fashions' statements

BENGALURU, Nov 3 (Reuters) - Billionaire Mukesh Ambani's Reliance is tying up with LVMH-owned LVMH.PA Sephora to operate the beauty chain's stores in India and help expand Sephora's presence in the country's fast-growing beauty and cosmetics market.

India's largest retailer Reliance, which launched its own beauty retail platform called Tira in April to take on the likes of Nykaa FSNE.NS and the Tata Group, will now take over Sephora's 26 stores in India from Arvind Fashions ARVF.NS.

Arvind Fashions had partnered with the French brand for the last eight years.

"The partnership gives RRVL (Reliance Retail Ventures Ltd) exclusive rights to build and enhance Sephora’s presence in India across channels," Reliance Retail said in a statement.

Sephora's products range from make-up to skincare. The chain also retails luxury brands such as Dior and Tom Ford offline and online and recently became the exclusive retailer for pop star Selena Gomez's Rare Beauty brand in India.

The 990.2 million-rupee ($11.89 million) deal between Reliance and Arvind Fashions comes months after local media reported that Sephora and Reliance Retail had abandoned talks to form a retail partnership for the Indian market.

Beauty retailers in India are vying to attract customers as demand for clean beauty and celebrity-owned brands grows. Brands such as Nykaa, Tira, and Shoppers Stop recently expanded their offerings in the hopes of attracting and keeping customers.

"Rising affluence, increasing urbanisation and the proliferation of social media have driven greater awareness of self-care and beauty, unlocking major opportunities for prestige beauty," Sephora's Asia President Alia Gogi said.

Shares of Arvind Fashions surged 11.5% after the news, before trimming some gains to close 5.8% higher.

The beauty division that hosted Sephora reported a revenue of 3.37 billion rupees in fiscal 2023, or about 7.6% of Arvind Fashions' total revenue.

The company will use proceeds from the deal to invest in its brands and repay debt.

($1 = 83.2510 Indian rupees)

(Reporting by Chris Thomas in Bengaluru; Editing by Janane Venkatraman)

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BENGALURU, Oct 31 (Reuters) - Indian textiles and leather goods maker Arvind ARVN.NS on Tuesday reported a 36% fall in second-quarter profit, hurt by slow demand pickup in fabrics amidst inflationary pressure.

The company's consolidated net profit fell to 800.1 million rupees ($9.6 million) for the quarter ended Sept. 30 from 1.25 billion rupees a year ago.

Textile companies have hit a rough patch due to low cotton arrivals, higher import duty and energy costs, and an inventory pile-up, analysts said.

Also, demand in the U.S. and European markets has yet to rebound.

Revenue at Arvind, which houses brands like Calvin Klein and Tommy Hilfiger, fell 11.4%, although expenses also declined 12% helped by lower raw material costs.

The company said revenues fell primarily on account of price deflation acting in tandem with lower input costs.

Arvind's profit in its core textiles division fell 17.3%, while that in its smaller segment, advanced materials, rose 13%.

The company saw low price realisations in its woven segment due to sluggish demand.

During the quarter, key export markets saw muted demand as customers continued to be cautious.

However, the company expects volume to pick up in the second half of the financial year that ends March 31.

Shares of Arvind rose 7.3% to 191.2 rupees after the results.

($1 = 83.2575 Indian rupees)

(Reporting by Ashna Teresa Britto; Editing by Mrigank Dhaniwala)

(([email protected];))

** Shares of Arvind Fashions ARVF.NS rise as much as 5% to 377.3 rupees, highest level since Nov 2

** Brokerage Systematix Institutional Equities initiates stock with "buy" rating; TP of 515 rupees

** Sustained product innovation, increased marketing spends helped ARVF premiumise key brands - Systematix

** Expect ARVF to retain leadership in cash generation and EBITDA/PAT growth, despite co's focus on profitable revenue growth raising fears of growth slowing in near term

** Flags prolonged slowdown in demand, enhanced competition,

failure to scale up focus brands as key risks

** More than 493,000 shares change hands by 11:12 a.m. IST, 1.6x the 30-day avg

** Stock up 8.6% YTD

(Reporting by Anisha Ajith in Bengaluru)

(([email protected];))

** Shares of Arvind Fashions Ltd ARVF.NS fall as much as 6.9% to 312.2 rupees, biggest intraday pct. loss since Dec. 23

** Apparel retailer's June-qtr consolidated net loss widensto 164.3 mln rupees vs 5.1 mln rupees a year earlier, revenue from operations rises 4%

** Trading volume at ~594,100 shares as of 1:30 p.m. IST, 3.3x the 30-day avg

** Stock down nearly 9% so far this year

(Reporting by Biplob Kumar Das in Bengaluru)

(([email protected]))

July 27 (Reuters) - Arvind Ltd ARVN.NS:

• JUNE-QUARTER CONSOL NET PROFIT 658.7 MILLION RUPEES VERSUS PROFIT 984.2 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 18.53 BILLION RUPEES VERSUS 23.52 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: ARVN.NS

(([email protected];))

** Shares of Arvind Fashions Ltd ARVF.NS jump up as much as 4.95% to 279 rupees, in highest intraday rise since March 16

** Co posts consolidated net profit of 109.2 mln rupees ($1.32 mln) vs 7.8 mln rupees yr ago; revenue up 24%

** Nearly 700,000 shares change hands by 2:30 PM IST, highest since Dec. 23, 2022

** Including session's moves, stock down ~21% so far this year

($1 = 82.7346 rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))