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Arvind Group separates its Advanced Material Business for independent growth trajectory
M & A Critique
|June 2024
Advanced Material Business (AMD) of Arvind Limited focuses on advanced materials and caters to customer needs across the textile value chain, including specialty yarns, fabrics, and ready-made products.
It has shown growth in revenue with profitably while also able to expand its product portfolio. Recently, Arvind Limited announced the transfer of its Advanced Material Business to its wholly owned subsidiary on a slump sale basis.
Arvind Limited ("Transferor Company") is inter-alia engaged in the business of entire textile value chain either directly or through its subsidiaries/Joint Ventures. The equity shares of Arvind Limited are listed on nationwide bourses. Over the years, the structure of the company has undergone several changes through various schemes of arrangements. Currently, the broader business segments of Arvind Limited includes:
- Textile business comprising of a manufacturing and supply of woven, denim and garment products and
- Advanced material business
Arvind Advanced Material Limited 1 ("Transferee Company") is inter-alia engaged in the business of manufacturing and supply of advanced O material. The company is a wholly owned subsidiary of Arvind Limited. It is - pertinent to note that the Transferee Company did significant revenue only in FY 2024 aggregating to circa INR 95 crore.
The Proposed Transaction
The Board of Directors of Arvind Limited and Arvind Advanced Material Limited in their respective board meeting approved a Scheme of Arrangement which inter alia provides for transfer of advanced material business of Arvind Limited to Arvind Advanced Material Limited through a Slump Sale.
Advanced material Business includes all business units located in various locations engaged in the business of Human Protection fabric & garments, Industrial Products, Advanced Composites and Automotive Fiber.
Some of the key rationale for internal restructuring are:
- Consolidation of advanced material business
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