28 May, 2021
ShareThe Board of Directors of the Company, at its meeting today, approved the results for the quarter ended 31st March 2021. These financials are post factoring in necessary adjustments under Ind AS 116.
Consolidated Financials
In Rs. Cr. | Q4FY21 | Q4 FY20 | Growth YOY |
---|---|---|---|
Revenue | 1822 | 1832 | -1% |
EBITDA | 253 | 167 | 51% |
PAT Comparable | -87 | -147 | |
PAT Reported | -196 | -147 |
Through a slew of cost control measures, despite lower sales, The Company posted a robust improvement in comparable PAT.
While the recovery was strong through most of the quarter on the back of pent-up demand, the resurgence of the second wave of COVID by the end of March impacted customer footfalls and decelerated growth. Given these factors, the business performance for the quarter was almost at the same level as last year.
Each of our business segments posted an encouraging performance
ABFRL is focused on the wellbeing of its employees and their families at present, while strengthening itself to capture the large growth opportunity post the pandemic. With widespread vaccination over next few months, the Company expects consumers to ride through the current challenging times, giving way for an optimistic consumption outlook during the later part of the year.
On the operational front, optimized cost control and tighter cash flow management will continue to be at the core of the business model. The company is now much better placed to manage business disruptions. With a gradual recovery in consumer footfalls and spends going forward, the company will emerge stronger on the other side of this crisis.
ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. With revenue of Rs.5,249 cr. spanning retail space of 8.4 million sq. ft. (as on March 31, 2021), 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 3,212 stores across approximately 31,000 multi-brand outlets with 6,800+ point of sales in department stores across India (as on 31st March, 2020).
It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years. Pantaloons is one of India’s largest fast fashion store brand.
The Company holds exclusive online and offline rights to the India network of California-based fast fashion brand Forever 21. The International Brands portfolio includes - The Collective, India's largest multi-brand retailer of international brands, Simon Carter and select mono-brands such as American Eagle, Ralph Lauren, Hackett London, Ted Baker and Fred Perry.
Van Heusen Innerwear, Athleisure and Active wear is establishing itself as India's most innovative and fashionable brand. The Company’s foray into branded ethnic wear business includes Jaypore and Designers ‘Shantanu & Nikhil’. Additionally, the Company closed two strategic investments with Designers ‘Sabyasachi’ and ‘Tarun Tahiliani’.
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.