External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Aditya Birla Fashion and Retail Ltd / Equity Bottom-Up

<ul><li>Resilient growth: ABFRL reported a 13% YoY revenue growth in Q2FY26, aided by a strong festive start. Segment-wise, TMRW and Luxury businesses grew 27% and 13% YoY, respectively, while Ethnic and Pantaloons rose 11% and 6% YoY.</li><li>Gross margins expanded 395 bps YoY to 57.9%, reflecting improved product mix and operational efficiencies.</li><li>However, EBITDA declined 12.4% YoY with a 99bps margin contraction, owing to higher marketing investments. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Resilient growth: ABFRL reported a 13% YoY revenue growth in Q2FY26, aided by a strong festive start. Segment-wise, TMRW and Luxury businesses grew 27% and 13% YoY, respectively, while Ethnic and Pantaloons rose 11% and 6% YoY.Gross margins expanded 395 bps YoY to 57.9%, reflecting improved product mix and operational efficiencies.However, EBITDA declined 12.4% YoY with a 99bps margin contraction, owing to higher marketing investments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aditya Birla Fashion & Retail Ltd - Resilient Growth, Margin Miss; Maintain HOLD

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Key points (machine generated)<ul><li>ABFRL's recent demerger has streamlined operations, enhancing its business model and attractiveness.</li><li>The company is positioned as a potential competitor in the Indian high fashion market, similar to LVMH.</li><li>Despite challenges like accounting losses and low liquidity, the investment note highlights unique opportunities for investors.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)ABFRL's recent demerger has streamlined operations, enhancing its business model and attractiveness.The company is positioned as a potential competitor in the Indian high fashion market, similar to LVMH.Despite challenges like accounting losses and low liquidity, the investment note highlights unique opportunities for investors.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Aditya Birla Fashion And Retail Ltd (NSE: ABFRL) - Tuesday, Jul 8, 2025

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>
<a href="https://www.smartkarma.com/entities/aditya-birla-fashion-and-retail-ltd" target="_blank" data-smartkarma-citation="entities:19048:1" rel="noopener">Aditya Birla Fashion and Retail Ltd (ABFRL IN)</a> demerged its business into two focussed entities, ABLBL(Stable Business) and ABFRL(High growth Business).</li>
<li>The separation aligns capital with business maturity isolating cash-generating lifestyle brands from high-growth, capital-hungry verticals like ethnic, luxury, and digital-first.</li>
<li>The two entities are targeting a combined INR 30,000 Cr in revenue and 3x cash profit by FY30 through unlocking sharper execution, better capital efficiency, and distinct investor appeal.</li>
</ul>



Aditya Birla Fashion and Retail Ltd (ABFRL IN) demerged its business into two focussed entities, ABLBL(Stable Business) and ABFRL(High growth Business).
The separation aligns capital with business maturity isolating cash-generating lifestyle brands from high-growth, capital-hungry verticals like ethnic, luxury, and digital-first.
The two entities are targeting a combined INR 30,000 Cr in revenue and 3x cash profit by FY30 through unlocking sharper execution, better capital efficiency, and distinct investor appeal.


Event Driven: ABFRL~ Value Unlocking Through Strategic Demerger

<ul><li>Resilient growth amid headwinds: Despite a challenging environment, the company’s consolidated revenue grew by 9% YoY, driven by strong performances in Ethnic (up 19% YoY), TMRW (up 27% YoY), and an 11% YoY increase in Luxury retail.</li><li>Profitability improved notably across segments, with gross margins expanding 848 bps YoY to 63.2%.</li><li>EBITDA rose to Rs 205 Cr in Q4 with EBITDA margins at 11.9%, up 970bps YoY, driven by sharp margin expansion in Pantaloons and Ethnic segments. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Resilient growth amid headwinds: Despite a challenging environment, the company’s consolidated revenue grew by 9% YoY, driven by strong performances in Ethnic (up 19% YoY), TMRW (up 27% YoY), and an 11% YoY increase in Luxury retail.Profitability improved notably across segments, with gross margins expanding 848 bps YoY to 63.2%.EBITDA rose to Rs 205 Cr in Q4 with EBITDA margins at 11.9%, up 970bps YoY, driven by sharp margin expansion in Pantaloons and Ethnic segments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aditya Birla Fashion & Retail Ltd - Resilient Growth, Short-Term Challenges Remain

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Aditya Birla Fashion and Retail (ABFRL)’s revenue growth remained muted at ~3% YoY (in line) in 3QFY25.</li><li>The growth was driven mainly by Ethnic and TMRW (to be part of demerged ABFRL), whereas growth remained muted in Lifestyle Brands (robust LTL offset by weak wholesale) and Pantaloons (shift in Pujo dates).</li><li>EBITDA was up 15% YoY (11% beat), driven by broad-based improvement in profitability, with ~150bp YoY expansion in consolidated EBITDA margin.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aditya Birla Fashion and Retail (ABFRL)’s revenue growth remained muted at ~3% YoY (in line) in 3QFY25.The growth was driven mainly by Ethnic and TMRW (to be part of demerged ABFRL), whereas growth remained muted in Lifestyle Brands (robust LTL offset by weak wholesale) and Pantaloons (shift in Pujo dates).EBITDA was up 15% YoY (11% beat), driven by broad-based improvement in profitability, with ~150bp YoY expansion in consolidated EBITDA margin.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aditya Birla Fashion and Retail - GM Expansion Drives Beat; Near-Term Focus on Demerge

India

Aditya Birla Fashion and Retail Ltd provides a wide range of mid-priced garments for men. The Company's collection includes internationally styled formal, elite, casual, party, and wedding apparel.

Aditya Birla Fashion and Retail Ltd (ABFRL IN)

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Aditya Birla Fashion and Retail Ltd (ABFRL IN)

Aditya Birla Fashion & Retail Ltd - Resilient Growth, Margin Miss; Maintain HOLD

ABFRL reported a 13% YoY revenue growth in Q2FY26, aided by a strong festive start. Segment-wise, TMRW and Luxury businesses grew 27% and 13% YoY,...

Axis Direct

Aditya Birla Fashion And Retail Ltd (NSE: ABFRL) - Tuesday, Jul 8, 2025

The investment note on Aditya Birla Fashion & Retail highlights its improved efficiency post-demerger, positioning it as a strong contender in...

Value Investors Club (VIC)

Event Driven: ABFRL~ Value Unlocking Through Strategic Demerger

Aditya Birla Fashion and Retail Ltd demerged into two entities, ABLBL and ABFRL, to align capital with business maturity and target INR 30,000 Cr...

Nimish Maheshwari

Aditya Birla Fashion & Retail Ltd - Resilient Growth, Short-Term Challenges Remain

Despite a challenging environment, the company’s consolidated revenue grew by 9% YoY, driven by strong performances in Ethnic (up 19% YoY)

Axis Direct

Aditya Birla Fashion and Retail - GM Expansion Drives Beat; Near-Term Focus on Demerge

Aditya Birla Fashion and Retail (ABFRL)’s revenue growth remained muted at ~3% YoY (in line) in 3QFY25. The growth was driven mainly by Ethnic and...

Motilal Oswal

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aditya Birla Fashion & Retail Ltd - Resilient Growth, Margin Miss; Maintain HOLD

ABFRL reported a 13% YoY revenue growth in Q2FY26, aided by a strong festive start. Segment-wise, TMRW and Luxury businesses grew 27% and 13% YoY,...

Axis Direct

Aditya Birla Fashion And Retail Ltd (NSE: ABFRL) - Tuesday, Jul 8, 2025

The investment note on Aditya Birla Fashion & Retail highlights its improved efficiency post-demerger, positioning it as a strong contender in...

Value Investors Club (VIC)

Event Driven: ABFRL~ Value Unlocking Through Strategic Demerger

​Aditya Birla Fashion and Retail Ltd demerged into two entities, ABLBL and ABFRL, to align capital with business maturity and target INR 30,000 Cr...

Nimish Maheshwari

Aditya Birla Fashion & Retail Ltd - Resilient Growth, Short-Term Challenges Remain

Despite a challenging environment, the company’s consolidated revenue grew by 9% YoY, driven by strong performances in Ethnic (up 19% YoY)

Axis Direct

Aditya Birla Fashion and Retail - GM Expansion Drives Beat; Near-Term Focus on Demerge

Aditya Birla Fashion and Retail (ABFRL)’s revenue growth remained muted at ~3% YoY (in line) in 3QFY25. The growth was driven mainly by Ethnic and...

Motilal Oswal

Aditya Birla Fashion and Retail Ltd demerged into two entities, ABLBL and ABFRL, to align capital with business maturity and target INR 30,000 Cr...