Textile manufacturer Arvind reported weak Q2 earnings, revenues declined by 33 percent and margins were at 9.3 percent. However, the company saw some sequential recovery with its debt also witnessing significant reduction.

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To give Q2 fineprint and the outlook for H2FY21 - Punit Lalbhai, the ED of Arvind spoke to CNBC-TV18.

“Q2 was extremely strong compared to Q1, the recoveries were very strong in the exports. In the domestic market, the recovery has been slower, but there has been a recovery and the important thing is that the recovery continues. Double-digit margins are very likely and we should see double-digit margins across the company.”

Talking about debt reduction Lalbhai said, “We are focused on delisting the company and therefore our focus will be to pare debt. So we are saying at least Rs 100 crore of debt this quarter.”

“Q3 should be in the 80s in terms of percentage fulfillment. Q3 is the aggressive quarter generally for us, it is a large quarter for us. Q4 we should come very close to old levels is what we are anticipating.”

To know more about the company's Q2 performance, watch the video.

(Edited by : Anshul)

First Published:Nov 3, 2020 2:30 PM IST