Aditya Birla Fashion and Retail Ltd. share price target

ABFRL reported a poor set of results in Q2FY18 led by GST disruptions and preponement of EOSS into Q1FY18. While ABFRL's July LTL growth was -26%, followed by -6% LTL growth in August.

Revenue increased by 8.98% to Rs. 1760.0 Cr in Q1FY18 when compared to the previous quarter. Revenue increased by 8.98% to Rs. 1760.0 Cr in Q1FY18 when compared to the previous quarter.

ICICI Securities Ltd | Retail Equity Research Revenues for the quarter grew 25% YoY to | 1760 crore (I-direct estimate: | 1612 crore). Inclusive growth across all segment were realized during the quarter. Revenues for Lifestyle brands (Allen Solly, Van Heusen, Louis Philippe and Peter England) grew by 14% YoY to | 891 crore (vs. | 779 crore in Q1FY17). Revenues from fast fashion which now includes Forever 21 (vs. only People in Q1FY17) stood at | 120 crore as compared to | 39 crore in Q1FY18. Pantaloons...

ABFRL has continued last quarter's trend of giving detailed disclosure of split of revenues and EBITDA across all segments.

Aditya Birla Fashion & Retail (ABFRL) had launched men's innerwear and athleisure SKUs in FY17 under Van Heusen brand in South India (Chennai, Bengaluru & Hyderabad). The company has now embarked on a national rollout of the innerwear and athleisure range that will be available across 7000+ multi brand outlets (MBOs) and 30+ exclusive Van Heusen innerwear outlets. The range will be also available across 250 Van Heusen exclusive outlets and 300 Planet fashion stores. The management intends to replicate the performance of Jockey and emerge as the No. 2 player...

ABFRL combines Madura's portfolio of leading power brands with Pantaloon's forte of largest value fashion retailer. The combination positions ABFRL as India's fashion powerhouse offering 5000 styles and 200+ brands. A pan-India distribution network of 2261 exclusive brand outlets (EBOs) spanning across 6.2 million sq ft covering 375 cities and towns, ABFRL reaches out to over 13 million discerning customers. With induction of brands like Ted Baker, Simon Carter and Forever 21, ABFRL continues to provide greater choice to its consumers across formats and...

After 4 consecutive quarters of disappointing results and for the first time after the Pantaloons and Madura merger, ABFRL has delivered a good result.

We recently met the management of Aditya Birla Fashion & Retail (ABFRL) to get an insight into its business and future plans. ABFRL is one of India's largest branded apparel companies formed by consolidation of Madura Fashion & Lifestyle (Madura) and Pantaloons. Madura houses a portfolio of India's largest menswear brands like Louis Philippe, Van Heusen, Allen Solly and Peter England. With each brand worth | 1000 crore, Madura's FY16 revenues were at | 4000 crore. The retail space for Madura consists of 1895 exclusive branded outlets (EBOs) across ~2.6 mn sq feet. In...

Revenue decreased by 9.37% to Rs. 1691.29 Cr in Q3FY17 when compared to the previous quarter. On the other hand, it grew by 4.81% when compared with Q3FY16.

Aditya Birla Fashion & Retail Ltd; Mixed Quarter; Structural Play Intact; Q2FY17 Result Update (CMP INR 140; Mcap INR 10,734 cr, BUY)