On consolidated basis
Quarter ended December 2022 compared
with Quarter ended December 2021.
Net sales (including other operating income) of Aditya Birla Fashion &
Retail has increased 20.14% to Rs 3588.8 crore. Sales of Madura
Fashion & Lifestyle segment has gone up 23.87% to Rs 2,465.70 crore
(accounting for 68.03% of total sales). Sales of Pantaloons segment
has gone up 8.65% to Rs 1,158.72 crore (accounting for 31.97% of total sales). Inter-segment
sales came down from Rs 69.85 crore to Rs 35.62 crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 63.74% to Rs 129.67
crore. PBIT of Madura Fashion & Lifestyle segment fell 61.95% to
Rs 96.43 crore (accounting for 74.37% of total PBIT). PBIT of
Pantaloons segment fell 68.09% to Rs 33.24 crore (accounting for 25.63% of
total PBIT).
PBIT margin of Madura Fashion &
Lifestyle segment fell from 12.73% to 3.91%. PBIT margin of
Pantaloons segment fell from 9.77% to 2.87%. Overall PBIT margin
fell from 11.70% to 3.58%.
Operating profit margin has declined
from 19.49% to 12.14%, leading to 25.16% decline in operating profit to Rs
435.63 crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 8.45% to 8.01%. Purchase of finished
goods cost rose from 37.17% to 37.47%. Employee cost increased from
10.50% to 11.76%. Other expenses rose from 24.51% to 30.65%.
Selling and administration expenses rose from 6.74% to 7.56%.
Other income rose 10.82% to Rs 26.93
crore. PBIDT fell 23.72% to Rs 462.56 crore. Provision
for interest rose 49.40% to Rs 132.13 crore.
PBDT fell 36.21% to Rs 330.43
crore. Provision for depreciation rose 26.55% to Rs 317.54
crore.
Profit before tax down 95.17% to Rs
12.89 crore. Share of profit/loss was 89.17% higher at Rs 4.54
crore. Provision for tax was expense of Rs 6.22 crore, compared to
Rs 72.65 crore. Effective tax rate was 35.69% compared to 26.96%.
Net profit attributable to owners of
the company decreased 91.66% to Rs 15.79 crore.
Promoters’ stake was 55.47% as of 31
December 2022 ,compared to 56.12% as of 31 December 2021 .
year-to-date (YTD) results
analysis.
Net sales (including other operating income) of Aditya Birla Fashion
& Retail has increased 62.95% to Rs 9538.17 crore. Sales of Madura
Fashion & Lifestyle segment has gone up 60.80% to Rs 6,484.62 crore
(accounting for 66.47% of total sales). Sales of Pantaloons segment
has gone up 67.66% to Rs 3,271.49 crore (accounting for 33.53% of total
sales). Inter-segment sales rose Rs 130.48 crore to Rs 217.94
crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 543.83% to Rs 494.40
crore. PBIT of Madura Fashion & Lifestyle segment rose 175.15%
to Rs 302.83 crore (accounting for 61.25% of total PBIT). PBIT of
Pantaloons reported profit of Rs 191.57 crore compared to loss of Rs 33.27
crore.
PBIT margin of Madura Fashion &
Lifestyle segment rose from 2.73% to 4.67%. PBIT margin of
Pantaloons segment rose from negative 1.71% to 5.86%. Overall PBIT
margin rose from 1.28% to 5.07%.
Operating profit margin has jumped
from 12.42% to 13.64%, leading to 78.95% rise in operating profit to Rs
1,300.78 crore. Purchase of finished goods cost fell from 42.15% to
42.12%. Employee cost decreased from 13.35% to 10.77%.
Other expenses rose from 24.53% to 26.34%. Selling and
administration expenses rose from 3.96% to 6.40%.
Other income rose 8.44% to Rs 80.06
crore. PBIDT rose 72.45% to Rs 1380.84 crore. Provision
for interest rose 26.37% to Rs 330.13 crore.
PBDT rose 94.76% to Rs 1050.71
crore. Provision for depreciation rose 20.30% to Rs 878.48
crore.
Profit before tax reported profit of
Rs 172.23 crore compared to loss of Rs 190.76 crore. Share of
profit/loss was 273.33% higher at Rs 4.48 crore. Provision for tax
was debit of Rs 41.64 crore, compared to credit of Rs 39.3
crore. Effective tax rate was 23.56% compared to 20.73%.
Promoters’ stake was 55.47% as of 31
December 2022 ,compared to 56.12% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Aditya Birla Fashion &
Retail has increased 55.01% to Rs 8136.22 crore. Sales of Madura
Fashion & Lifestyle segment has gone up 63.91% to Rs 5,692.77 crore
(accounting for 68.43% of total sales). Sales of Pantaloons segment
has gone up 41.29% to Rs 2,626.07 crore (accounting for 31.57% of total
sales). Inter-segment sales rose Rs 82.83 crore to Rs 182.62
crore.
PBIT of Madura Fashion &
Lifestyle reported profit of Rs 270.35 crore compared to loss of Rs 214.13
crore. PBIT of Pantaloons segment rose 54.03% to Rs -66.43 crore
(accounting for -32.58% of total PBIT).
PBIT margin of Madura Fashion &
Lifestyle segment rose from negative 6.17% to 4.75%. PBIT margin of
Pantaloons segment rose from negative 7.77% to negative
2.53%. Overall PBIT margin rose from 6.73% to 2.45%.
Operating profit margin has jumped
from 10.57% to 13.52%, leading to 98.27% rise in operating profit to Rs
1,099.92 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 9.09% to 9.55%. Purchase of
finished goods cost rose from 32.95% to 41.79%. Employee cost
decreased from 18.68% to 12.76%. Other expenses fell from 27.32% to
23.77%. Selling and administration expenses rose from 0.23% to
4.33%.
Other income rose 36.99% to Rs
100.55 crore. PBIDT rose 91.11% to Rs 1200.47
crore. Provision for interest fell 30.22% to Rs 350.71
crore. Loan funds rose to Rs 4,100.42 crore as of 31 March 2022 from
Rs 2,890.51 crore as of 31 March 2021. Inventories rose to Rs
2,929.59 crore as of 31 March 2022 from Rs 1,846.96 crore as of 31 March
2021. Sundry debtors were higher at Rs 756.43 crore as of 31 March
2022 compared to Rs 607.97 crore as of 31 March 2021. Cash and bank
balance declined from Rs 261.75 crore as of 31 March 2021 to Rs 120.53 crore as
of 31 March 2022. Investments rose to Rs 684.03 crore as of 31 March
2022 from Rs 417.90 crore as of 31 March 2021 .
PBDT rose 576.83% to Rs 849.76
crore. Provision for depreciation rose 3.56% to Rs 997.03
crore. Fixed assets increased to Rs 3,953.25 crore as of 31 March
2022 from Rs 3,455.30 crore as of 31 March 2021. Intangible assets
stood at Rs 2,209.20 crore.
Loss before tax has fallen 82.41% to
Rs -147.27 crore. Provision for tax was credit of Rs 26.57 crore,
compared to credit of Rs 101.54 crore. Effective tax rate was 18.33%
compared to 12.12%.
Minority interest increased 84.82%
to Rs -9.64 crore. Net profit attributable to owners of the company
increased 83.83% to Rs -108.72 crore.
Equity capital increased from Rs
915.05 crore as of 31 March 2021 to Rs 938.29 crore as of 31 March
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 56.09% as of 31
March 2022 ,compared to 56.10% as of 31 March 2021 .
Cash flow from operating activities
decreased to Rs 950.51 crore for year ended March 2022 from Rs 1,103.80 crore
for year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 347.95 crore, compared to Rs 161.26
crore during the year ended March 2021.
Other
Operational highlights:
Branded business network gained 245 stores including newly integrated
Reebok stores. Ethnic business added 15 new store and Network of small-town format within Lifestyle brands stood at 550+ stores strong
Pantaloons added 10 stores on a net
basis.
Reebok transitioned to ABFRL
portfolio from 01st October 2022.
TMRW announced strategic partnership with eight digital first brands. Six brands have
been integrated to the portfolio.
E-commerce sales grew 33% YoY across
the portfolio
Consistent enhancement of
Omni-channel coverage across 2350+ stores.
| Aditya Birla Fashion & Retail : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 3,588.80 | 2,987.10 | 20.14 | 9,538.17 | 5,853.39 | 62.95 | 8,136.22 | 5,248.92 | 55.01 | | OPM (%) | 12.14 | 19.49 | -735 bps | 13.64 | 12.42 | 122 bps | 13.52 | 10.57 | 295 bps | | OP | 435.63 | 582.11 | -25.16 | 1,300.78 | 726.90 | 78.95 | 1,099.92 | 554.75 | 98.27 | | Other Inc. | 26.93 | 24.30 | 10.82 | 80.06 | 73.83 | 8.44 | 100.55 | 73.40 | 36.99 | | PBIDT | 462.56 | 606.41 | -23.72 | 1,380.84 | 800.73 | 72.45 | 1,200.47 | 628.15 | 91.11 | | Interest | 132.13 | 88.44 | 49.40 | 330.13 | 261.25 | 26.37 | 350.71 | 502.60 | -30.22 | | PBDT | 330.43 | 517.97 | -36.21 | 1,050.71 | 539.48 | 94.76 | 849.76 | 125.55 | 576.83 | | Depreciation | 317.54 | 250.92 | 26.55 | 878.48 | 730.24 | 20.30 | 997.03 | 962.75 | 3.56 | | PBT | 12.89 | 267.05 | -95.17 | 172.23 | -190.76 | LP | -147.27 | -837.2 | 82.41 | | Share of Profit/(Loss) from Associates | 4.54 | 2.4 | 89.17 | 4.48 | 1.2 | 273.33 | 2.34 | -0.34 | LP | | PBT before EO | 17.43 | 269.45 | -93.53 | 176.71 | -189.56 | LP | -144.93 | -837.54 | 82.70 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 17.43 | 269.45 | -93.53 | 176.71 | -189.56 | LP | -144.93 | -837.54 | 82.70 | | Taxation | 6.22 | 72.65 | -91.44 | 41.64 | -39.3 | PL | -26.57 | -101.54 | 73.83 | | PAT | 11.21 | 196.8 | -94.30 | 135.07 | -150.26 | LP | -118.36 | -736 | 83.92 | | Minority Interest (MI) | -4.58 | 7.46 | LP | -15.87 | 2.06 | LP | -9.64 | -63.49 | 84.82 | | Net profit | 15.79 | 189.34 | -91.66 | 150.94 | -152.32 | LP | -108.72 | -672.51 | 83.83 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 15.79 | 189.34 | -91.66 | 150.94 | -152.32 | LP | -108.72 | -672.51 | 83.83 | | EPS (Rs)* | 0.17 | 2.00 | -91.66 | 1.59 | -1.61 | LP | -1.15 | -7.09 | 83.83 | | | * EPS is on current equity of Rs 948.72 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Aditya Birla Fashion & Retail : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Madura Fashion & Lifestyle | 68.03 | 2,465.70 | 1,990.52 | 23.87 | 66.47 | 6,484.62 | 4,032.66 | 60.80 | 68.43 | 5,692.77 | 3,473.17 | 63.91 | | Pantaloons | 31.97 | 1,158.72 | 1,066.43 | 8.65 | 33.53 | 3,271.49 | 1,951.21 | 67.66 | 31.57 | 2,626.07 | 1,858.58 | 41.29 | | Total Reported Sales | 100.00 | 3,624.42 | 3,056.95 | 18.56 | 100.00 | 9,756.11 | 5,983.87 | 63.04 | 100.00 | 8,318.84 | 5,331.75 | 56.02 | | Less: Inter segment revenues | | 35.62 | 69.85 | -49.01 | | 217.94 | 130.48 | 67.03 | | 182.62 | 82.83 | 120.48 | | Net Sales | 100.00 | 3,588.80 | 2,987.10 | 20.14 | 100.00 | 9,538.17 | 5,853.39 | 62.95 | 100.00 | 8,136.22 | 5,248.92 | 55.01 | | PBIT | | Madura Fashion & Lifestyle | 74.37 | 96.43 | 253.45 | -61.95 | 61.25 | 302.83 | 110.06 | 175.15 | 132.58 | 270.35 | -214.13 | LP | | Pantaloons | 25.63 | 33.24 | 104.16 | -68.09 | 38.75 | 191.57 | -33.27 | LP | -32.58 | -66.43 | -144.50 | 54.03 | | Total PBIT | 100.00 | 129.67 | 357.61 | -63.74 | 100.00 | 494.40 | 76.79 | 543.83 | 100.00 | 203.92 | -358.63 | LP | | Less : Interest | | 132.13 | 88.44 | 49.40 | | 330.13 | 261.25 | 26.37 | | 350.71 | 502.60 | -30.22 | | Add: Other un-allcoable | | 19.89 | 0.28 | 7,003.57 | | 12.44 | -5.10 | LP | | 1.86 | 23.69 | -92.15 | | PBIT Margin(%) | | Madura Fashion & Lifestyle | | 3.91 | 12.73 | -882.20 | | 4.67 | 2.73 | 194.08 | | 4.75 | -6.17 | 1,091.43 | | Pantaloons | | 2.87 | 9.77 | -689.85 | | 5.86 | -1.71 | 756.08 | | -2.53 | -7.77 | 524.51 | | PBT | 100.00 | 17.43 | 269.45 | -93.53 | 100.00 | 176.71 | -189.56 | LP | 100.00 | -144.93 | -837.54 | 82.70 |
|
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