06 August, 2019Share
Aditya Birla Fashion and Retail announces Q1 FY20 results
|In Rs. Cr.||Q1 FY19||Q1 FY20
(Ind AS Adj.)
The Board of Directors of the Company at its meeting today have approved the results for the quarter ended 30th June 2019. The financials were reported post implementation of Ind AS 116.
The Company reported a steady increase in revenue of 8 per cent from Rs.1914 Cr. to Rs.2065 Cr. EBITDA grew strongly by 28 per cent, from Rs.122 Cr. last year to Rs.156 Cr. this year, on a comparable basis. Reported EBITDA (post Ind AS 116) for the quarter was Rs.332 Cr. Profit After Tax (PAT) for the quarter on a comparable basis was 602 per cent higher at Rs.39 Cr. (post Ind AS 116 Rs.22 Cr.) vs Rs.6 Cr. last year.
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.
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.
Madura segment recorded 10 per cent growth in revenue in Q1 as compared to the same period last year (Rs.1210 Cr. vs. Rs.1104 Cr.) EBITDA improved by 110 bps (comparable basis) due to all-round improvement in profitability across segments.
Pantaloons continues to march ahead both in terms of sales growth and consistent improvement in profitability. Pantaloons segment reported revenue of Rs.890 Cr. for the quarter as against Rs.813 Cr. in Q1 FY19; a 9.5 per cent growth on year on year basis. EBITDA for the segment stood at Rs.87 Cr. (post Ind AS 116 – Rs.164 Cr.) vis-à-vis Rs.78 Cr. in Q1 FY19.
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.
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, on the basis of 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.