05/22/2023 | Press release | Distributed by Public on 05/22/2023 05:52
1. Company accelerates its growth momentum and continues to make significant progress viz a viz its long-term plan.
2. Consolidated EBITDA for the quarter stood at Rs. 232 Cr.
3. Business growth continued to be led by aggressive offline expansion.
4. Company further strengthens its Digital and Omnichannel play.
5. Company recently announced its largest strategic acquisition in line with its strategy to build a comprehensive ethnic wear portfolio.
6. Closed the quarter with net debt of Rs. 1422 Cr, primarily on account of continued investments in new growth ventures.
The Board of Directors of the Company, at its meeting today, approved the results for the quarter ended 31st Mar 2023. These financials are post factoring in necessary adjustments under Ind AS 116.
Standalone In Rs. Cr. |
Q4 FY22 | Q4 FY23 |
Growth % (vs. LY) |
Consolidated In Rs. Cr. |
Q4 FY22 | Q4 FY23 |
Growth % (vs. LY) |
Revenue | 2181 | 2651 | 22% | Revenue | 2283 | 2880 | 26% |
EBITDA | 396 | 258 | -35% | EBITDA | 401 | 232 | -42% |
PAT | 50 | -128 | PAT | 32 | -195 |
Standalone In Rs. Cr. |
FY 22 | FY 23 |
Growth % (vs. LY) |
Consolidated In Rs. Cr. |
FY22 | FY23 |
Growth % (vs. LY) |
Revenue | 7824 | 11737 | 50% | Revenue | 8136 | 12418 | 53% |
EBITDA | 1174 | 1705 | 45% | EBITDA | 1203 | 1617 | 34% |
PAT | -81 | 133 | PAT | -118 | -59 |
Growth in quarterly revenue was propelled by robust retail like-to-like (LTL) sales across businesses, accelerated omnichannel play and network expansion as the company added 500+ stores in the last one year. Net profit for the quarter was impacted due to negative operating leverage on the back of sluggish sales. The increase in marketing spends (~1.5 times of LY) and continued investments in TMRW also impacted profitability in the quarter.
Each of the business segments posted robust performance.
As the economic situation recovers, the company remains focused on its clearly articulated strategy of building strong, timeless brands and managing the businesses with flexibility and agility. With a long-term rise in discretionary consumption, the apparel industry is primed for significant growth bolstered by premiumisation and an accelerated shift from unbranded to branded products. ABFRL's strong repertoire of well-known brands, combined with a sharp focus on product excellence, customer centricity, sustainability, and distribution expansion, gives it the confidence to deliver consistent and sustainable growth.
ABFRL is part of a leading Indian conglomerate, Aditya Birla Group. With revenue of Rs. 12,418 Cr. spanning a retail space of 10.8 million sq. ft. (as on March 31, 2023), it is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
The Company has a network of 3,977 stores across approximately 33,535 multi-brand outlets with 6,723 points of sale in department stores across India (as on 31st March 2023).
It has a repertoire of India's largest brands in Louis Philippe, Van Heusen, Allen Solly and Peter England, established for over 25 years. Pantaloons is one of India's leading fashion retailers.
Company's international brands portfolio includes The Collective, which is amongst India's largest multi-brand retailers of international brands and has long term exclusive partnerships with select brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, and Galeries Lafayette.
The Company's foray into branded ethnic wear business includes brands such as Jaypore, Tasva & Marigold Lane. The company has strategic partnerships with Designers 'Shantnu & Nikhil', 'Tarun Tahiliani', 'Sabyasachi' and 'House of Masaba'.
In addition, to cater to the needs of digitally native consumers, ABFRL is building a portfolio of digital-first brands under its technology-led 'House of D2C Brands' venture TMRW. TMRW is on a path to building a portfolio of digital-first brands in partnership with founders of emerging brands in the e-commerce market. With a focus on Fashion & Lifestyle categories, TMRW is building a portfolio of the most loved consumer brands that tap into the significant growth potential in India and globally.
Disclaimer : Certain statements in this "Press Release" may not be based on historical information or facts and may be "forward looking statements" within the meaning of applicable securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, based on any subsequent development, information, or events, or otherwise. This "Press Release" does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company's shares. The financial figures in this "Press Release" have been rounded off to the nearest Rs. one Crore. The financial results are consolidated financials unless otherwise specified.