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Aditya Birla Fashion & Retail

ABFRL NSE
₹40.66 No trade today
P/E
Not meaningful: loss-making over the last twelve months
View as Markdown
MCP
Close 4 Nov 2026 ₹40.66 −37.42 −47.9% 1Y
Start ₹78.08

Key Fundamentals

MicrocapRetailConsumer Services

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
−3.76%
Debt to Equity
1.06
EPS (TTM)
−₹6.39
Book Value
₹47.96
Market Cap
—
P/E (TTM)
Not meaningful: loss-making over the last twelve months
P/B
0.85
ROE
−13.60%
Dividend Yield
0.00%
EBITDA
₹996 Cr
52W High
₹82.45
52W Low
₹38.30
Volume
0

Peer Comparison

Consumer Discretionary › Retail › Speciality Retail

Aditya Birla Fashion & Retail peer comparison
Trent
₹3,060.0086.05₹1,62,418 Cr21.000.13%27.70%28.30%₹22,001 Cr₹1,909 Cr
Lenskart Solutions
₹689.70155.69₹1,18,542 Cr13.730.00%6.33%8.08%₹9,634 Cr₹668 Cr
Vedant Fashions
₹496.8031.28₹12,088 Cr6.151.56%18.80%22.80%₹1,456 Cr₹386 Cr
Aditya Birla Lifestyle Brands
₹73.7150.83₹8,845 Cr6.280.68%14.90%15.00%₹8,601 Cr₹176 Cr
Aditya Vision
₹520.2548.35₹6,764 Cr8.750.24%18.70%17.10%₹2,924 Cr₹139 Cr
V2 Retail
₹149.1330.50₹5,972 Cr6.030.00%23.70%19.50%₹3,428 Cr₹177 Cr
Aditya Birla Fashion & Retail (this company)
₹40.66—₹4,837 Cr0.850.00%−13.60%−3.76%₹8,371 Cr−₹845 Cr
Median 7 companies₹496.8049.59₹8,845 Cr6.280.13%18.70%17.10%₹8,371 Cr₹177 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

25 Poor

Data confidence 93/100

Category scores

Quality
21
Poor
Returns, margins, earnings quality 22% weight
Valuation
38
Weak
Cheap vs sector & own history 24% weight
Growth
46
Average
Sales & profit trajectory 9% weight
Financial Health
12
Poor
Solvency, leverage, coverage 9% weight
Momentum
8
Poor
Trend strength, vol-adjusted 12% weight
Ownership
17
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Stock is trading at 0.94 times its book value
  • Debtor days have improved from 36.5 to 18.2 days.

Weaknesses

5
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.27% over past five years.
  • Company has a low return on equity of -14.0% over last 3 years.
  • Earnings include an other income of Rs.262 Cr.
  • Promoter holding has decreased over last 3 years: -8.84%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1045
OscillatorsBullish243
Moving AveragesStrong Bearish802

Key readings

RSI (14)
37.48
Neutral
MACD (12,26,9)
−2.24
Bullish
SMA (50)
46.86
Bearish
SMA (200)
58.59
Bearish

As of

Analyst Rating

Based on 14 analysts
HOLD43%

3 of 14 analysts rate Buy, 6 Hold, 5 Sell.

As of

BUY
3
21%
HOLD
6
43%
SELL
5
36%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+9.27%
3Y−13.00%
1Y+11.22%
TTM+11.45%

Net profit

Net profit growth by window
5YLoss widened by ₹94 Cr
3YLoss widened by ₹771 Cr
1YLoss widened by ₹374 Cr
TTMLoss widened by ₹370 Cr

Operating cash flow

Operating cash flow growth by window
5Y−31.96%
3Y−36.74%
1Y−90.42%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y−2.52 pp
3Y−3.95 pp
1Y−0.92 pp
TTM−1.07 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹8,118 Cr
Mar 2020₹8,788 Cr
Mar 2021₹5,249 Cr
Mar 2022₹8,136 Cr
Mar 2023₹12,418 Cr
Mar 2024₹6,441 Cr
Mar 2025₹7,351 Cr
Mar 2026₹8,176 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019₹321 Cr
Mar 2020−₹165 Cr
Mar 2021−₹736 Cr
Mar 2022−₹118 Cr
Mar 2023−₹59.00 Cr
Mar 2024−₹736 Cr
Mar 2025−₹456 Cr
Mar 2026−₹830 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹58.58 Cr −64.8% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk high

Aditya Birla Fashion & Retail Ltd has a market cap of Rs.7,269 Cr with a negative PE of -8.7x, reflecting continued losses. The company shows TTM sales growth of 11% but carries persistently negative ROE of -12% to -13% over 3-5 years, with a stock price decline of 19% over the past year.

Bull Case 6
  • TTM revenue growth of 11% indicates improving top-line momentum after a 3-year compounded sales decline of -13%
  • Debtor days improved significantly from 36.5 to 18.2 days, reflecting better working capital management and faster collections
  • Price-to-book ratio of 1.23x is relatively modest for a branded retail play with multiple established brands under its portfolio
  • 5-year compounded sales growth of 9% demonstrates the company's ability to scale revenue over medium-term cycles
  • 10-year stock CAGR of 2% shows the company has at least preserved some long-term value despite recent struggles
  • Other income of Rs.270 Cr provides a buffer to reported financials, indicating diversified income streams or asset monetization potential
Bear Case 8
  • Negative PE of -8.7x confirms the company is loss-making, with compounded profit declining at -25% TTM and -2% over 5 years
  • 3-year ROE of -13% and last year ROE of -12% indicate persistent destruction of shareholder value with no near-term profitability inflection visible
  • Low interest coverage ratio signals significant debt servicing pressure relative to operating earnings
  • Promoter holding has decreased by 8.86% over the last 3 years, suggesting dilution or lack of promoter confidence
  • Stock price has declined 19% over 1 year and -9% CAGR over 3 years, materially underperforming broader markets
  • Zero dividend yield offers no income cushion to investors during the extended loss-making phase
  • 5-year sales growth of only 9.27% is modest for a retail company operating in a high-growth Indian consumption market
  • Earnings quality is questionable as Rs.270 Cr of other income forms a material component of reported financials rather than core operating profit

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

94d ago

TL;DR: ABFRL is delivering solid top-line growth at 11% YoY with strong momentum in its Ethnic (14% growth) and digital-first TMRW (34% growth) segments, while EBITDA margins are expanding meaningfully. The GST penalty of ₹51.5 lakh is negligible relative to the company's scale. The NCLT-approved merger simplifies the corporate structure ahead of the AGM. The trend is improving with diversified growth engines firing, though sustaining margin expansion across all segments remains the key monitorable.

Headwinds 1
  • ₹51.5 lakh GST penalty imposed Jul 25

    Nagole GST Division, Hyderabad imposed a penalty of ₹51,52,528 on ABFRL over an input tax credit dispute from FY20-21. Minor financial impact but signals regulatory scrutiny.

Positives 3
  • Revenue up 11% in FY26 Aug 1

    Consolidated revenue rose 11% YoY to ₹8,177 crore in FY25-26 with EBITDA of ₹967 crore (11.8% margin). Ethnic segment grew 14% to ₹2,227 crore with 560 bps margin expansion, and TMRW digital portfolio surged 34% to ₹876 crore.

  • Merger effective Aug 1, 2026 Jul 10

    NCLT-approved merger with Jaypore E-Commerce and TG Apparel became effective Aug 1, 2026, consolidating ethnic and digital verticals into the parent entity.

  • Retail network expansion continues Aug 1

    Store count expanded to 1,273 across 7.9 million sq. ft., with e-commerce contributing approximately 16% of total revenue.

Neutral 1
  • 19th AGM scheduled Aug 25 Aug 2

    Remote e-voting window set for Aug 21-24, 2026, with the AGM on Aug 25 via video conference. Eligibility cut-off date is Aug 18.

Quarterly Results

₹ Cr
ABFRL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
3,196
3,226
4,167
1,575
1,674
1,761
2,201
1,719
1,831
1,982
2,374
1,990
2,026
Expenses
2,904
2,904
3,613
1,540
1,585
1,683
1,908
1,520
1,726
1,920
2,072
1,802
1,915
Operating Profit
292
323
553
35
89
77
293
199
106
62
302
188
111
OPM %
9%
10%
13%
2.2%
5%
4.4%
13%
12%
6%
3.1%
13%
9%
5%
Other Income
60.29
46
51
84
57
134
95
243
64
55
40
112
56
Interest
187
208
245
152
132
141
151
143
113
124
132
146
137
Depreciation
367
389
444
287
274
286
296
315
316
325
350
349
350
PBT
−201
−229
−85
−321
−260
−217
−59
−15
−260
−333
−141
−195
−320
Tax %
−20%
−12%
27%
−17%
−17%
−19%
−28%
52%
−10%
−11%
−3%
−16%
−22%
Net Profit
−162
−200
−108
−266
−215
−175
−42
−24
−234
−295
−137
−164
−249
EPS (₹)
−1.49
−1.89
−0.82
−2.26
−1.59
−1.36
−0.48
−0.14
−1.74
−2.16
−1.25
−1.22
−1.76

Profit & Loss

₹ Cr
ABFRL profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
8,118
8,788
5,249
8,136
12,418
6,441
7,351
8,176
8,371
Expenses
7,525
7,528
4,666
6,998
10,860
6,033
6,653
7,474
7,709
Operating Profit
593
1,259
583
1,138
1,557
408
699
702
662
OPM %
7%
14%
11%
14%
13%
6%
10%
9%
8%
Other Income
63
63
73
103
123
319
525
270
262
Interest
225
469
530
389
536
588
608
561
539
Depreciation
282
885
963
997
1,227
1,017
1,166
1,339
1,374
PBT
149
−33
−838
−145
−82
−877
−550
−928
−989
Tax %
−115%
402%
−12%
−18%
−28%
−16%
−17%
−11%
—
Net Profit
321
−165
−736
−118
−59
−736
−456
−830
−845
EPS (₹)
3.72
−1.89
−7.93
−1.16
−0.38
−6.19
−3.08
−6.36
−6.39
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
ABFRL balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
773
774
915
938
949
1,015
1,220
1,221
Reserves
655
294
1,729
1,835
2,394
3,007
5,592
4,619
Borrowings
1,703
5,285
3,600
4,100
6,573
9,451
5,017
6,189
Other Liabilities
3,489
3,406
3,805
5,321
6,873
8,317
4,565
5,367
Total Liabilities
6,621
9,758
10,049
12,195
16,790
21,790
16,394
17,395
Fixed Assets
2,555
4,940
5,627
6,059
8,359
11,879
9,417
10,377
CWIP
22
48
38
103
204
171
181
98
Investments
4
14
418
684
267
985
1,749
1,240
Other Assets
4,039
4,756
3,966
5,348
7,960
8,756
5,046
5,680
Total Assets
6,621
9,758
10,049
12,195
16,790
21,790
16,394
17,395

Cash Flow

₹ Cr
ABFRL cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
528
644
1,104
951
636
1,341
1,681
161
Investing
−277
−551
−855
−553
−387
−2,992
−1,665
−267
Financing
−266
116
−269
−526
326
1,412
296
−594
Net Cash Flow
−15
210
−21
−128
574
−239
313
−700
Free Cash Flow
248
332
945
632
−35
600
1,089
−295
CFO/EBITDA
92
52
190
85
41
339
246
34

Ratios

ABFRL financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
35
35
42
34
26
73
19
18
Inventory Days
179
205
263
287
277
532
282
298
Days Payable
223
198
307
335
253
487
258
262
Cash Conversion Cycle
−9
42
−1
−13
50
117
43
54
Working Capital Days
−34
−75
−65
−53
−24
−72
−11
−16
ROCE %
—
9%
−5%
3%
5%
−4%
−3%
−4%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Aditya Birla Fashion & Retail insights

62 extracted metrics across FY05–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 46.61%
  • Public 27.99%
  • Others 11.00%
  • FIIs 10.11%
  • DIIs 4.28%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Aditya Birla Fashion & Retail

What does Aditya Birla Fashion & Retail Ltd do?
Aditya Birla Fashion and Retail Ltd. (ABFRL) emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising ABNL's Madura Fashion division and ABNL's subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MFL) in 2015.
Where is Aditya Birla Fashion & Retail Ltd (ABFRL) listed?
Aditya Birla Fashion & Retail Ltd trades as ABFRL on the NSE and under code 535755 on the BSE.
Which sector does Aditya Birla Fashion & Retail Ltd belong to?
Aditya Birla Fashion & Retail Ltd is classified under the Retail sector, in the Speciality Retail industry.
What is the 52-week high and low of Aditya Birla Fashion & Retail Ltd?
Over the last 52 weeks Aditya Birla Fashion & Retail Ltd has traded between ₹38.3 and ₹82.45 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Aditya Birla Fashion & Retail Ltd?
Aditya Birla Fashion & Retail Ltd reported a return on equity of -13.60%. Its debt-to-equity ratio is 1.06.

Company Information

Aditya Birla Fashion and Retail Ltd. (ABFRL) emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising ABNL's Madura Fashion division and ABNL's subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MFL) in 2015. ABFRL is a part of the Aditya Birla Group, a US$ 48.3 billion Indian multinational, in the league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 34 countries across the globe.

Website abfrl.com
CEO Mr. Ashish Dikshit
Employees 33,085
Listed 17 Jul 2013
Face Value ₹10

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