Home / Knowledge / News / Textiles / Arvind considers raising borrowing limit to Rs 5,000 crore
Arvind considers raising borrowing limit to Rs 5,000 crore
Jul '14
Ahmedabad-based Arvind Limited, one of the largest integrated textile and branded apparel players, is considering raising its borrowing limit from Rs. 3,000 crore to Rs. 5,000 crore.
However, pursuant to the provisions of Section 180(1)(c) of the Companies Act, 2013, the Board can exercise such borrowing powers only with the approval of Members of the Company by way of Special Resolution.
Hence the company will put up a Special Resolution at the forthcoming Annual General Meeting (AGM) of the members of the company on July 30, 2014, according to the company’s filing to the Bombay Stock Exchange.
At the AGM held on September 30, 2006, the company authorized its Board of Directors to borrow for the purpose of the Company moneys in excess of the paid-up capital of the company and its free reserves provided the sum or sums so borrowed and remaining outstanding at any point of time shall not exceed Rs. 3,000 crore.
Keeping in view the company’s business requirements and growth plans, the company now considers to increase the said borrowing limit from Rs. 3000 crore to Rs. 5000 crore, the filing said.
Arvind Ltd. recorded strong growth in the consolidate revenue by 34 percent at Rs. 1,879 crore for the quarter ended March 31, 2014, as against Rs. 1,406 crore in the corresponding quarter of the previous year.
For the financial year 2013-14, the company reported 30 percent growth in revenue and 36 percent growth in Operating Profit (EBIDTA). Revenue for the year stood at Rs. 6,862 crore as against Rs. 5,293 crore for the previous year.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th Apr 2017

Continue existing Duty Drawback, ROSL scheme post GST: TEA

Tiruppur Exporters' Association (TEA) has made requisitions to...

Apparel/Garments | On 28th Apr 2017

Deckers Brands starts review of strategic alternatives

Deckers Brands, a global leader in designing, marketing and...

Courtesy: Adidas

Apparel/Garments | On 28th Apr 2017

Adidas, Siemens initiate joint research programme

Adidas and Siemens are initiating a joint research programme for...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search