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India's ABFRL's revenue leaps 53% YoY to ₹12,418 crore in FY23

22 May '23

2 min read

Pic: VIVEK PAYGUDE / Shutterstock.com

Insights

Aditya Birla Fashion and Retail Ltd (ABFRL) has reported FY23 revenues of ₹12,418 crore, up 53 per cent YoY.
The company achieved its highest yearly EBITDA of ₹1,617 crore, with e-commerce revenue exceeding ₹1,300 crore.
In Q4 FY23, revenue increased 26 per cent YoY to ₹2,880 crore.
The company expanded aggressively offline, adding 104 stores.

Leading Indian conglomerate Aditya Birla Fashion and Retail Ltd (ABFRL) has reported a revenue of ₹12,418 crore (approximately $1,498.55 million) in fiscal 2023 (FY23), marking a 53 per cent year-on-year (YoY) growth and a 41 per cent rise compared to pre-COVID levels. The company also achieved its highest-ever yearly EBITDA of ₹1,617 crore, with e-commerce revenue contributing more than ₹1,300 crore to the total.

In the fourth quarter (Q4) of FY23, ABFRL witnessed a 26 per cent YoY growth, with revenue reaching ₹2,880 crore. The consolidated EBITDA for the quarter stood at ₹232 crore, the company said in a press release.

Offline expansion played a significant role in driving the company's growth, with ABFRL adding 104 stores to its branded business network. In this expansion, Tasva contributed with 19 new stores, while Pantaloons added 25 stores in the fourth quarter.

In addition to offline growth, ABFRL also fortified its digital and omnichannel presence. The company reported a 77 per cent YoY growth in e-commerce sales for Q4. Furthermore, the launch of Lifestyle’s new SuperApp, which is designed to enhance convenience and personalisation for shoppers, bolsters its digital strategy.

ABFRL ended the quarter with a net debt of ₹1,422 crore, largely due to its continued investment in new growth ventures.

ABFRL's lifestyle brands experienced their best Q4, registering a 14 per cent YoY growth with revenue of ₹1,535 crore. Pantaloons posted quarterly sales of ₹798 crore, reflecting an 18 per cent YoY growth. Despite facing market challenges, the business added 25 stores in Q4, increasing its total to 431 stores.

Meanwhile, the innerwear and athleisure segment and the youth fashion segment posted a 10 per cent and 86 per cent YoY revenue growth respectively, despite the continued slowdown in the outerwear segment. Finally, the ethnic businesses segment experienced a 72 per cent YoY growth, while the super-premium brands noted a 45 per cent YoY increase, the release added.

Fibre2Fashion News Desk (DP)

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