Aditya Birla Fashion and Retail Ltd (ABFRL’s) revenue increased by 8 per cent from Rs. 1914 crore in Q1 2019 to Rs. 2065 crore in Q1 2020 ending June 30, 2019. EBITDA grew by 28 per cent, from Rs. 122 crore last year to Rs. 156 crore this year on a comparable basis. Profit After Tax (PAT) for Q1 on a comparable basis was up 602 per cent at Rs. 39 crore vs Rs. 6 crore last year. Madura segment recorded 10 per cent growth in revenue in Q1 as compared to the same period last year (Rs. 1210 crore vs Rs. 1104 crore). EBITDA improved by 110 bps on comparable basis due to allround improvement in profitability across segments. Madura business segment consists of Lifestyle brands – Louis Philippe, Van Heusen, Allen Solly and Peter England, Fast Fashion brands – Forever 21 and People and Other businesses that include global brands and innerwear. Lifestyle brands witnessed a 22 per cent increase in comparable EBITDA at Rs. 94 crore vs Rs. 77 crore in FY19. The Aditya Birla Fashion and Retail reported 6 fold increase in comparable net income in Q1 FY20, revenues for the period grew by 6 per cent from Rs. 945 crore in Q1 last year to Rs. 1006 crore in Q1 this year amidst difficult market conditions.
Fast Fashion segment continued to undergo a business model correction. The segment witnessed a 10 per cent decline in revenue from Rs. 88 crore in Q1 FY19 to Rs. 80 crore in Q1 FY20. The EBITDA loss on a comparable basis was Rs. 9 crore vs Rs. 6 crore in Q1 FY19. Other businesses grew aggressively with both sub-segments viz innerwear and global brands posting excellent growth. The segment recorded a strong growth of 76 per cent in revenue, growing from Rs. 71 crore in Q1 FY 19 to Rs. 125 crore in Q1 FY20. Comparable EBITDA loss at `22 crore was lower than last year. In other businesses, innerwear business continued to scale at a rapid pace expanding its footprint and has touched approximately 16,000 outlets across the country. Global brands business exhibited robust growth due to the rapid ramp-up of mono brands, along with consistent performance of The Collective. Pantaloons continued to march ahead both in terms of sales growth and consistent improvement in profitability. Pantaloons segment reported revenue of `890 crore for the quarter as against Rs. 813 crore in Q1 FY19; a 9.5 per cent growth on year on year basis. EBITDA for the segment stood at Rs. 87 crore vis-à-vis Rs. 78 crore in Q1 FY19.
The company closed two strategic investments in branded ethnic wear business, thereby foraying into the largest and amongst the fastest growing segments in Indian apparel industry. The company acquired 100 per cent stake in Indian crafts based ethnic wear brand ‘Jaypore’ and plans to scale up the predominantly online business through the offline route. The company also forged strategic partnership with celebrity designers ‘Shantanu& Nikhil’ through acquisition of 51 per cent stake in the business and endeavors to grow the existing couture business, along with starting a pret line to make the brand accessible to wider set of consumers. With strong brands, diversified portfolio, resilience business model and exceptional execution capabilities, Aditya Birla Fashion and Retail Ltd remains optimistic about its growth and profitability outlook for future. Aditya Birla Fashion and Retail Limited is India’s largest pure-play fashion and lifestyle company with a strong bouquet of leading fashion brands and retail formats. The company has a network of 2,800 stores, presence across approximately 19,800 multi-brand outlets with 5,200+ point of sales in department stores across India.
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