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India's Arvind Fashions' Q4 profit jumps two-fold on demand for premium brands



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BENGALURU, May 21 (Reuters) -Indian retailer Arvind Fashions ARVF.NS reported a more than two-fold rise in fourth-quarter profit on Tuesday, aided by steady demand for premium clothing brands.

The company, which retails clothing from brands such as Arrow, Calvin Klein and Tommy Hilfiger, reported a consolidated net profit of 243.2 million rupees ($2.92 million) up from 109.1 million rupees a year ago.

Its revenue from operations rose nearly 4% to 10.94 billion rupees.

For further results highlights, click [here]


KEY CONTEXT


Indian retailers have been grappling with slower volume growth amid heightened competition and had to offer heavy discounts to sway customers, hurting their topline.

However, demand for premium products aimed at high-income consumers remains a key driver of sales growth.

Rival Shoppers Stop reported a 53% rise in fourth-quarter profit last month, helped by demand in its beauty and luxury segments.


PEER COMPARISON





Valuation (next 12 months)

Estimates (next 12 months)

Analysts' sentiment


RIC

PE

EV/EBITDA

Revenue growth

Profit growth

Mean rating*

# of analysts

Stock to price target**

Div yield (%)

Arvind Fashions

ARVF.NS

40.62

11.38

12.45

113.01

Strong Buy

5

0.82

0.21

Shoppers Stop

SHOP.NS

56.50

12.03

23.49

66.55

Hold

7

0.92

--

Trent

TREN.NS

106.38

59.37

37.66

57.76

Buy

13

1.13

0.07

Aditya Birla Fashion and Retail

ADIA.NS

--

18.49

15.81

--

Hold

17

1.12

--


* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT


JANUARY-MARCH STOCK PERFORMANCE



-- All data from LSEG

-- $1 = 83.2892 Indian rupees


January-March stock performance_Arvind Fashions https://tmsnrt.rs/3Kdz7oV


Reporting by Ashna Teresa Britto in Bengaluru; Editing by Eileen Soreng

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