Aditya Birla Fashion & Retail Q4 Result 2024: Reported a net loss of 37%, revenue hiked by 20% on a YOY basis

Synopsis

Aditya Birla Fashion and Retail Ltd (ABFRL) announced its quarterly results for March 2024 on 28th May after market hours. It reported a consolidated loss of ₹266.35 cr for Q4 FY2024. Its consolidated total revenue for Q4 FY2024 increased by 19.82% on a YOY basis reaching ₹ 3494.14 cr. 

Quarter result performance

The company’s consolidated total revenue for Q4 FY2024 was up by 19.82% on a YOY basis, reaching ₹ 3494.14 cr from ₹ 2916.13 cr in Q4 FY2023. The quarterly consolidated revenue was also down by 17.02%. Aditya Birla Fashion and Retail reported a consolidated loss of ₹ 266.35 cr for Q4 FY2024 against a loss of ₹ 194.54 cr in Q4 FY2023, which is an increase in loss by 36.91%. On a quarterly basis, the consolidated loss increased by 147.54%. EBITDA was ₹ 232 cr up by 18% on a YOY basis. 
 

For the full financial year ending in March 2024, the consolidated loss stood at ₹ 735.91 cr compared to a loss of ₹ 59.47 cr in FY 2023, which widened by 1137.45%. For FY 2024, its consolidated total revenue stood at ₹ 14,233.44 cr compared to ₹ 12,534.36 cr in FY 2023, up by 13.56%. EBITDA stood at ₹ 1617 cr, up by 5% from FY2023. 

The company’s lifestyle brands witnessed a 2% YOY growth at 1564 Cr in Q4. For the same period, the inner wear & athleisure segment had a flat year in FY2024 while the Youth Western wear segment, which includes American Eagle and Forever 21 had a 27% sales growth. Pantaloons and Reebok grew at 10% and 29% in Q4 FY2024. Aditya Birla’s other segments including Ethnic Wear and Super premium brands witnessed a growth of 51% and 16%, respectively. Its TMRW portfolio grew 2.1x.

On the results, the official statement from Aditya Birla Fashion and Retail Ltd (ABFRL) stated, “With consumption remaining sluggish over the past 6-8 quarters, the company has sustained its focus on its long-term strategy to build strong & timeless brands for its consumers, while operating with flexibility and agility. The apparel market remains one of the most significant segments in the discretionary consumer space, where the organized part of the market is set to grow at a double digit CAGR over the next few years. ABFRL’s long term strategy is aimed at building a sizeable business within this space with a brand-led strategy, leveraging its strong repertoire of well-known brands to secure a competitive advantage. The strategic de-merger of ABFRL is paving the way for the creation of two separate growth engines, each with a clear capital allocation strategy and unique path for value creation. Both entities will focus on specific growth areas aligned with their business models to maximize shareholder returns.” 

About Aditya Birla Fashion and Retail Ltd (ABFRL) 

Aditya Birla Fashion and Retail Limited is a leading Indian fashion and retail company. ABFRL's portfolio includes iconic brands such as Louis Philippe, Van Heusen, Allen Solly, and Peter England, which have been established for over 25 years. Pantaloons, one of India's leading fashion retailers, is also a part of their portfolio. The company has many international brand partnerships through The Collective and has exclusive partnerships with global brands like Ralph Lauren, Hackett London, and Forever 21.