On consolidated basis
Quarter ended December
2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of Aditya Birla Fashion &
Retail has increased 3.31% to Rs 4304.69 crore. Sales of Madura
Fashion & Lifestyle segment has gone up 15.32% to Rs 2,150.93 crore
(accounting for 49.23% of total sales). Sales of Pantaloons segment
has gone down 2.19% to Rs 1,304.51 crore (accounting for 29.86% of total
sales). Sales of Ethnic and Others segment fell 15.92% to Rs 913.87
crore (accounting for 20.92% of total sales). Inter-segment sales
came down from Rs 119.06 crore to Rs 64.62 crore.
Profit before interest,
tax and other unallocable items (PBIT) has jumped 37.74% to Rs 226.85
crore. PBIT of Madura Fashion & Lifestyle segment rose 5.24% to
Rs 183.81 crore (accounting for 81.03% of total PBIT). PBIT of
Pantaloons segment rose 23.64% to Rs 85.50 crore (accounting for 37.69% of
total PBIT). PBIT of Ethnic and Others segment rose 46.33% to Rs
-42.46 crore (accounting for -18.72% of total PBIT).
PBIT margin of Madura
Fashion & Lifestyle segment fell from 9.36% to 8.55%. PBIT
margin of Pantaloons segment rose from 5.18% to 6.55%. PBIT margin
of Ethnic and Others segment rose from negative 7.28% to negative
4.65%. Overall PBIT margin rose from 3.84% to 5.19%.
Operating profit margin
has jumped from 13.28% to 14.75%, leading to 14.75% rise in operating profit to
Rs 634.90 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 11.50% to 9.87%. Purchase of
finished goods cost rose from 28.09% to 28.14%. Employee cost
increased from 12.51% to 13.84%. Other expenses fell from 33.70% to
32.44%. Selling and administration expenses fell from 7.38% to
7.33%.
Other income rose 29.51%
to Rs 57.06 crore. PBIDT rose 15.84% to Rs 691.96
crore. Provision for interest rose 0.66% to Rs 247.04
crore.
PBDT rose 26.43% to Rs
444.92 crore. Provision for depreciation rose 6.35% to Rs 472.26
crore.
Loss before tax has
fallen 70.33% to Rs -27.34 crore. Provision for tax was expense of
Rs 6.08 crore, compared to Rs 22.69 crore. Effective tax rate was
negative 16.76% compared to negative 26.72%.
Net profit attributable
to owners of the company increased 34.11% to Rs -51.31 crore.
Promoters’ stake was
49.24% as of 31 December 2024 ,compared to 55.45% as of 31 December 2023
.
Year-to-date (YTD) results analysis.
Net sales (including other operating
income) of Aditya Birla Fashion & Retail has increased 7.43% to Rs 11376.37
crore.
Operating profit margin
has jumped from 11.04% to 11.91%, leading to 15.88% rise in operating profit to
Rs 1,354.61 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 10.92% to 9.87%. Purchase of
finished goods cost fell from 34.02% to 31.13%. Employee cost
increased from 12.74% to 14.04%. Other expenses rose from 31.27% to
32.66%. Selling and administration expenses fell from 6.84% to
6.72%.
Other income rose 4.22%
to Rs 156.43 crore. PBIDT rose 14.56% to Rs 1511.04
crore. Provision for interest rose 11.77% to Rs 716.58
crore.
PBDT rose 17.19% to Rs
794.46 crore. Provision for depreciation rose 14.12% to Rs 1369.2
crore.
Profit before tax down
10.12% to Rs -574.74 crore. Provision for tax was credit of Rs 92.13
crore, compared to credit of Rs 45.2 crore. Effective tax rate was
16.33% compared to 8.78%.
Minority interest
decreased 3.11% to Rs -73.32 crore. Net profit attributable to
owners of the company decreased 0.05% to Rs -398.66 crore.
Promoters’ stake was
49.24% as of 31 December 2024 ,compared to 55.45% as of 31 December 2023
.
Full year results analysis.
Net sales (including other operating income) of Aditya Birla Fashion &
Retail has increased 12.71% to Rs 13995.86 crore. Sales of Madura
Fashion & Lifestyle segment has gone up 2.45% to Rs 7,793.72 crore (accounting
for 54.46% of total sales). Sales of Pantaloons segment has gone up
5.29% to Rs 4,328.27 crore (accounting for 30.24% of total
sales). Sales of Ethnic and Others segment rose 118.83% to Rs
2,190.04 crore (accounting for 15.30% of total sales). Inter-segment
sales rose Rs 300.88 crore to Rs 316.17 crore.
Profit before interest,
tax and other unallocable items (PBIT) has slumped 78.56% to Rs 82.31
crore. PBIT of Madura Fashion & Lifestyle segment rose 20.04% to
Rs 544.12 crore (accounting for 661.06% of total PBIT). PBIT of
Pantaloons reported loss of Rs 83.33 crore compared to profit of Rs 98.65
crore. PBIT of Ethnic and Others segment fell 125.33% to Rs -378.48
crore (accounting for -459.82% of total PBIT).
PBIT margin of Madura
Fashion & Lifestyle segment rose from 5.96% to 6.98%. PBIT
margin of Pantaloons segment fell from 2.40% to 1.93%. PBIT margin
of Ethnic and Others segment fell from negative 16.78% to negative
17.28%. Overall PBIT margin fell from 3.02% to 0.58%.
Operating profit margin
has declined from 12.03% to 10.38%, leading to 2.74% decline in operating
profit to Rs 1,452.61 crore. Raw material cost as a % of total sales
(net of stock adjustments) increased from 9.12% to 10.57%. Purchase
of finished goods cost fell from 40.61% to 33.49%. Employee cost
increased from 11.45% to 13.22%. Other expenses rose from 27.89% to
32.21%. Selling and administration expenses rose from 6.57% to
7.02%.
Other income rose 104%
to Rs 237.58 crore. PBIDT rose 4.98% to Rs 1690.19 crore. Provision
for interest rose 85.58% to Rs 876.61 crore. Loan funds rose to Rs
9,451.40 crore as of 31 March 2024 from Rs 6,572.86 crore as of 31 March
2023. Inventories rose to Rs 4,505.34 crore as of 31 March 2024 from
Rs 4,214.38 crore as of 31 March 2023. Sundry debtors were higher at
Rs 1,278.81 crore as of 31 March 2024 compared to Rs 886.44 crore as of 31
March 2023. Cash and bank balance declined from Rs 701.06 crore as
of 31 March 2023 to Rs 462.39 crore as of 31 March 2024. Investments
rose to Rs 984.83 crore as of 31 March 2024 from Rs 266.58 crore as of 31 March
2023 .
PBDT fell 28.49% to Rs
813.58 crore. Provision for depreciation rose 34.90% to Rs 1655.23
crore. Fixed assets increased to Rs 8,836.63 crore as of 31 March
2024 from Rs 6,233.39 crore as of 31 March 2023. Intangible assets
increased from Rs 2,329.70 crore to Rs 3,200.99 crore.
Profit before tax down
842.71% to Rs -841.65 crore. Share of profit/loss was 86.40% higher
at Rs 12.75 crore. Provision for tax was credit of Rs 92.99 crore,
compared to credit of Rs 22.97 crore. Effective tax rate was 11.22%
compared to 27.86%.
Minority interest
decreased 359.69% to Rs -107.89 crore. Net profit attributable to
owners of the company decreased 1,644.50% to Rs -628.02 crore.
Equity capital increased
from Rs 948.79 crore as of 31 March 2023 to Rs 1,015.01 crore as of 31 March
2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was
51.85% as of 31 March 2024 ,compared to 55.47% as of 31 March 2023
.
Cash flow from operating
activities increased to Rs 1,341.40 crore for year ended March 2024 from Rs
636.20 crore for year ended March 2023. Cash flow used in acquiring
fixed assets during the year ended March 2024 stood at Rs 747.03 crore,
compared to Rs 681.32 crore during the year ended March 2023.
Operational highlights:
Network: Total network at 4492 stores
spanning 11.9 Mn sq.ft.
Lifestyle brands - Revenue
stood at Rs. 1817 Cr. EBITDA for the business was Rs. 357 Cr. resulting in an
EBITDA margin of 19.6%, up 40 bps vs LY. Retail LTL for the quarter was at 12%
led by strong initiatives to drive productivity. Brands continued to perform
well, driven by increased casualization, a consistent focus on premiumization,
and improved in-store experiences, offering a diverse range of merchandise for
all age groups and occasions, thereby strengthening consumer engagement and brand
appeal.
Emerging growth
businesses which include Youth Western wear, Innerwear & athleisure and
sportswear segments posted 5% growth with improving EBITDA margins.
Ethnic Brand:
Designer led brands – The designer led
ethnic portfolio grew by 41% on YoY basis led by addition of GFPL. House of
Masaba recorded 117% revenue growth vs LY, as the beauty business grew to
>4x of LY, driven by distribution expansion and strong organic sales via
its website. Premium ethnic wear brands – CNS revenue in Q2 stood at Rs. 254
Cr. propelled by steady improvements in store throughput and a positive response
to its newly launched merchandise. The men’s premium ethnic wear brand TASVA’s
sales were up 79% vs LY on the back of strong start to festive season, driven
by its strong product offerings and differentiated in- store experience. Brand
Jaypore’s revenue grew 15% YoY led by strong LTL and distribution expansion.
Premium ethnic wear brands – The men’s
premium ethnic wear brand TASVA’s sales were up more than 50% vs LY on the back
of a strong festive season. TASVA delivered LTL growth of 18% and strengthened
its footprint
in key wedding markets. TCNS
transformation is underway where the business has streamlined its distribution,
focusing on profitable channels and better end-to-end merchandising, leading to
another quarter of positive LTL
growth.
Luxury Retail,
comprising the multi-brand format “The Collective” and other mono brands, maintained
profitable growth, with a YoY revenue increase of 13%. The total network now
encompasses 41 stores.
TMRW portfolio grew by
26% vs LY driven by its strategic playbook of building digital-first brand
portfolio. Brands accelerated its offline expansion with addition of 5 stores
(3 TIGC and 2 Bewakoof) this quarter..| Aditya Birla Fashion & Retail : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 4,304.69 | 4,166.71 | 3.31 | 11,376.37 | 10,589.21 | 7.43 | 13,995.86 | 12,417.90 | 12.71 | | OPM (%) | 14.75 | 13.28 | 147 bps | 11.91 | 11.04 | 87 bps | 10.38 | 12.03 | -165 bps | | OP | 634.90 | 553.27 | 14.75 | 1,354.61 | 1,168.93 | 15.88 | 1,452.61 | 1,493.58 | -2.74 | | Other Inc. | 57.06 | 44.06 | 29.51 | 156.43 | 150.09 | 4.22 | 237.58 | 116.46 | 104.00 | | PBIDT | 691.96 | 597.33 | 15.84 | 1,511.04 | 1,319.02 | 14.56 | 1,690.19 | 1,610.04 | 4.98 | | Interest | 247.04 | 245.43 | 0.66 | 716.58 | 641.10 | 11.77 | 876.61 | 472.36 | 85.58 | | PBDT | 444.92 | 351.90 | 26.43 | 794.46 | 677.92 | 17.19 | 813.58 | 1,137.68 | -28.49 | | Depreciation | 472.26 | 444.06 | 6.35 | 1369.2 | 1199.84 | 14.12 | 1655.23 | 1226.96 | 34.90 | | PBT | -27.34 | -92.16 | 70.33 | -574.74 | -521.92 | -10.12 | -841.65 | -89.28 | -842.71 | | Share of Profit/(Loss) from Associates | -8.94 | 7.25 | PL | -12.48 | 7.16 | PL | 12.75 | 6.84 | 86.40 | | PBT before EO | -36.28 | -84.91 | 57.27 | -587.22 | -514.76 | -14.08 | -828.9 | -82.44 | -905.46 | | EO Income | 0 | 0 | - | 23.11 | 0 | - | 0 | 0 | - | | PBT after EO | -36.28 | -84.91 | 57.27 | -564.11 | -514.76 | -9.59 | -828.9 | -82.44 | -905.46 | | Taxation | 6.08 | 22.69 | -73.20 | -92.13 | -45.2 | -103.83 | -92.99 | -22.97 | -304.83 | | PAT | -42.36 | -107.6 | 60.63 | -471.98 | -469.56 | -0.52 | -735.91 | -59.47 | -1,137.45 | | Minority Interest (MI) | 8.95 | -29.73 | PL | -73.32 | -71.11 | -3.11 | -107.89 | -23.47 | -359.69 | | Net profit | -51.31 | -77.87 | 34.11 | -398.66 | -398.45 | -0.05 | -628.02 | -36 | -1,644.50 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -51.31 | -77.87 | 34.11 | -398.66 | -398.45 | -0.05 | -628.02 | -36 | -1,644.50 | | EPS (Rs)* | -0.38 | -0.54 | 28.58 | -3.67 | -3.50 | -4.93 | -5.51 | -0.32 | -1,644.50 | | | * EPS is on current equity of Rs 1,139.78 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) | 202412 | 202312 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Madura Fashion & Lifestyle | 49.23 | 2,150.93 | 1,865.11 | 15.32 | 68.95 | 7,437.68 | 6,484.62 | 14.70 | 54.46 | 7,793.72 | 7,607.05 | 2.45 | | Pantaloons | 29.86 | 1,304.51 | 1,333.72 | -2.19 | 31.05 | 3,348.71 | 3,271.49 | 2.36 | 30.24 | 4,328.27 | 4,110.93 | 5.29 | | Ethnic and Others | 20.92 | 913.87 | 1,086.94 | -15.92 | 15.30 | 2,190.04 | 1,000.80 | 118.83 | | Total Reported Sales | 100.00 | 4,369.31 | 4,285.77 | 1.95 | 100.00 | 10,786.39 | 9,756.11 | 10.56 | 100.00 | 14,312.03 | 12,718.78 | 12.53 | | Less: Inter segment revenues | | 64.62 | 119.06 | -45.72 | | 197.18 | 217.94 | -9.53 | | 316.17 | 300.88 | 5.08 | | Net Sales | 100.00 | 4,304.69 | 4,166.71 | 3.31 | 100.00 | 10,589.21 | 9,538.17 | 11.02 | 100.00 | 13,995.86 | 12,417.90 | 12.71 | | PBIT | | Madura Fashion & Lifestyle | 81.03 | 183.81 | 174.66 | 5.24 | 88.52 | 138.55 | 302.83 | -54.25 | 661.06 | 544.12 | 453.29 | 20.04 | | Pantaloons | 37.69 | 85.50 | 69.15 | 23.64 | 11.48 | 17.97 | 191.57 | -90.62 | -101.24 | -83.33 | 98.65 | PL | | Ethnic and Others | -18.72 | -42.46 | -79.12 | 46.33 | -459.82 | -378.48 | -167.97 | -125.33 | | Total PBIT | 100.00 | 226.85 | 164.69 | 37.74 | 100.00 | 156.52 | 494.40 | -68.34 | 100.00 | 82.31 | 383.97 | -78.56 | | Less : Interest | | 247.04 | 245.43 | 0.66 | | 641.10 | 330.13 | 94.20 | | 876.61 | 472.36 | 85.58 | | Add: Other un-allcoable | | -16.09 | -4.17 | -285.85 | | -30.18 | 12.44 | PL | | -34.60 | 5.95 | PL | | PBIT Margin(%) | | Madura Fashion & Lifestyle | | 8.55 | 9.36 | -81.90 | | 1.86 | 4.67 | -280.72 | | 6.98 | 5.96 | 102.27 | | Pantaloons | | 6.55 | 5.18 | 136.94 | | 0.54 | 5.86 | -531.91 | | -1.93 | 2.40 | -432.49 | | Ethnic and Others | | -4.65 | -7.28 | 263.30 | | -17.28 | -16.78 | -49.83 | | PBT | 100.00 | -36.28 | -84.91 | 57.27 | 100.00 | -514.76 | 176.71 | PL | 100.00 | -828.90 | -82.44 | -905.46 |
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