Aarvee Denims Exports Q4 revenue down to Rs 181 crore

By

Maverick Martins

Published
May 24, 2019

India’s leading denim maker, Aarvee Denims & Exports Ltd (ADEL) saw its sales revenue plummet to Rs 181 crore ($26 million) for the fourth quarter ended March 31, 2019, as against Rs 227 crore it had reported in the corresponding quarter last fiscal.
 

Due to poor sales during the quarter, Aarvee’s net profit for the quarter also declined to Rs 39 lacs as compared to the last fiscal period’s Rs 81 lacs.
 
Aarvee had a poor fiscal year overall, and was not able to replicate the success of last year, due to poor sales. The second half of the year, which has been performing well over the years due to its denim and winter apparel sales, failed to record the same result seen years prior.

The company reported net sales of Rs 754 crore during the financial year 2018-19 as compared to Rs 830 crore it reported for the last fiscal year.
 
The net profit for the year dropped to Rs 1 crore in comparison to Rs 6 crore it had posted for the 12 months period ended March 31, 2018.
 
ADEL manufactures casual and winter apparel for men, women, and kids. The company owns retail brands like De Extase, Fashion Wrapper, and Aden, which are sold through multi-brand outlets and e-commerce websites.