Following a flurry of acquisitions over the previous few years, the fashion arm of the Aditya Birla group, one of the leading apparel firms in the nation with FY23 revenues of Rs 12,418 crore, is taking steady measures in FY24, according to the company’s top leaders.
Analysts claim that the firm’s top priority is to stabilise its existing operations, which were built as a result of acquisitions. Due to escalating costs, Aditya Birla Fashion and Retail (ABFRL) announced its first net loss in nearly two years for the quarter ending in March (Q4FY23), totaling ‘187 crore.
The business’s performance lagged behind rivals like Shoppers Stop and Tata-backed Trent, both of which turned a profit in the fourth quarter. As investors remain uneasy about the future, shares of ABFRL have lost 31% of their value this year. operating environment and the company’s ability to manage its expenses, sector experts said.