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Revenue
₹1,365 Cr
verified against source
Revenue YoY
14.8%
reported change
EBITDA
₹189 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Arvind Fashions delivered a strong Q4 FY26 with revenue of ₹1,365 crore (+14.8% YoY) and EBITDA of ₹189 crore (+19% YoY), with 50bps margin expansion to 13.8%. PAT surged 56% YoY to ₹47 crore. Growth was broad-based: retail LFL of 7.8%, online B2C up 40%+, and D2C share reached 56% (+300bps). USPA led brand performance; Flying Machine rebounded with double-digit LFL and 70% B2C growth. Management guided for mid-double-digit revenue growth in FY27 with another 30-40bps EBITDA margin expansion, supported by D2C mix shift, cost controls, and selective price hikes. Key risk: potential consumption slowdown from inflationary pressures and West Asia tensions, though mitigation actions (early inventory, India sourcing) are in place.
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Guidance to track
- Management expects to sustain mid-double-digit revenue growth in fiscal 2027, driven by 7-8% LFL and store expansion.
- Despite macro uncertainties, the company expects another 30-40 basis points of EBITDA margin improvement.
- Plans to add approximately 1.5 lakh net square feet of retail space across the portfolio.
- The company expects each of its five brands to have its own website and app operational during the fiscal year.
Risks flagged
- Management flagged risk of consumption slowdown from supply-side inflation, though mitigation actions are in place.
- Geopolitical situation in West Asia could cause mild pressure on raw materials, forex, and capex over the medium term.
- Analyst raised concern about inventory days rising ~20 days over two years; management attributed to D2C mix and early inwards, but net working capital stable.
- Transitory GST slab movement to 18% impacted PVH brands for a few weeks, but both brands are back to double-digit growth.
Key quotes
- Our D2C engine is compounding. Direct channels now account for 56% of sales, up 300 basis points year on year.
- We expect to sustain mid double-digit growth with another 30 to 40 basis points of EBITDA margin expansion despite a more uncertain macro.
- Flying machine clocked retail LTL of double digits and a B2C growth of 70%.
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