Seeing strong growth opportunity in textile business: Arvind

Published On: 12, Dec 2017 | Source: moneycontrol.com

CNBC TV18 @moneycontrolcom

Arvind stock has got a booster shot after CLSA upped their target by 22 percent on the back of strong growth in textiles and brand and retail businesses.

In an interview with CNBC-TV18, Kulin Lalbhai, Executive Director of the company spoke about the latest happenings in his company and sector.

Speaking about demerger, he said that the demerger is a very exciting milestone for the group. So the current company is going to split into three companies, Arvind, Arvind Fashions and Anup Engineering.

Each of these three businesses will now be able to chart an independent course.

We have already announced the demerger, it has been approved by the board. It would take 7-8 months for the three businesses to list, he added.

On brand business, Lalbhai said, as the whole portfolio is concerned, we are very confident of more than 20 percent growth continuing.

We are seeing very strong growth opportunities in the textile business. We hope to invest Rs 1,500 crore in the textile business over the next three-four years and that should push up our growth to north to 10 percent, he further mentioned.

For full interview, watch accompanying video...