Aditya Birla Fashion and Retail Limited — Investor Meet, 28-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Aditya Birla Fashion and Retail (ABFRL) reported Q4 FY26 revenue growth of 16% YoY to INR 1,990 crore, with adjusted EBITDA up 29% to 11.5% margin. Full-year revenue grew 11% to INR 8,177 crore, with adjusted EBITDA margin at 11%.

Pantaloons was a key highlight, delivering 19% segment growth, driven by strategic shifts in merchandising, store experience, and online scale. Like-to-like growth for Pantaloons stood at 14% in Q4 and 7% for Nov-Mar, largely volume-driven. The ethnic business saw 14% annual revenue growth and significant EBITDA margin expansion to 10.8%. TCNS losses halved, targeting cash breakeven by FY27 end, while Tasva maintained strong double-digit growth. TMRW grew 45% in Q4, funded with INR 800 crore cash, aiming for portfolio profitability by FY29.

Management noted a marginal demand impact in March, with H2 facing potential headwinds from 3-4% raw material inflation, possibly leading to 5-8% price hikes. The company feels adequately funded with INR 1,545 crore consolidated gross cash, despite expecting net debt to rise. This reflects a confident outlook on strategic initiatives and execution, focused on long-term growth and margin improvement amid evolving market conditions.