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Aditya Birla Fashion & Retail
SectorConsumer Services
Aditya Birla Fashion and Retail Limited (ABFRL) is India's largest fashion and lifestyle entity. It operates a network of over 6723 points of sale across more than 900 cities and towns, including over 33,535 exclusive brand outlets and 4000 value stores. ABFRL is engaged in manufacturing and retailing branded apparels and accessories. The company has expanded its portfolio through acquisitions and partnerships with various brands including Simon Carter, Forever 21, Ted Baker, American Eagle Outfitters, Ralph Lauren, Jaypore, Shantanu & Nikhil, Sabyasachi Mukherjee, and Tarun Tahiliani. ABFRL has also launched its own brands such as Marigold Lane and Tasva. In 2022-23, the company added over 500 stores, expanding its network to 3977 stores including 431 Pantaloons stores. ABFRL acquired the Reebok India business and established TMRW, a portfolio of digital-first brands. In 2023, the company acquired a majority stake in House of Masaba Lifestyle Private Limited.
In the news
India's Retail Growth Accelerates to 8% Ahead of Festive Season
ABFRL Plans Galeries Lafayette Stores Every 2 Years in India
ABFRL: Tanwani Steps Down as Pantaloons CEO, Bahirwani Appointed
Retailers adopt rightsized formats amid Tier-II expansion push
Aditya Birla Fashion Q4 loss widens to ₹163.8 cr despite 16% revenue growth
ABFRL Q4 loss widens to ₹148 crore despite 16% revenue growth
135+ companies report Q4FY26 results as Nifty shows mixed signals
Aditya Birla Fashion shares fall 2.38% to ₹72.50
The Quarter story
The two most recent quarterly results, compared side-by-side.
Steady revenue growth and digital margin improvement offset by widening net losses and ethnic segment volatility.
Revenue from Operations grew from ₹1,831 Cr in Q1 FY26 to ₹2,026 Cr in Q1 2026-27 — steady top-line expansion across core retail channels
Net loss widened from ₹234 Cr in Q1 FY26 to ₹249 Cr in Q1 2026-27 — bottom-line profitability remains under pressure
TMRW EBITDA margin improved from -31.8% in Q1 FY26 to -19.2% in Q1 2026-27 — digital losses are narrowing as scale increases
Ethnic Businesses EBITDA margin fell from 13.9% in Q4 FY26 to 0.1% in Q1 2026-27 — festive season gains did not sustain into the new quarter
Pantaloons revenue rose from ₹1,094 Cr in Q1 FY26 to ₹1,204 Cr in Q1 2026-27 — value retail continues to drive consistent sales growth
Total expenses rose from ₹2,149 Cr in Q1 FY26 to ₹2,395 Cr in Q1 2026-27 — cost inflation is outpacing revenue growth
Tarun Tahiliani OTT stores grew from 1 in Q1 FY26 to 6 in Q1 2026-27 — luxury omnichannel presence is accelerating
TMRW store count dropped from 120 in Q4 FY26 to 75 in Q1 2026-27 — rapid digital expansion is being consolidated
Consolidated retail footprint expanded from 7.4M sq ft in Q1 FY26 to 7.9M sq ft in Q1 2026-27 — physical network optimization is on track
Employee benefits expenses climbed from ₹303 Cr in Q1 FY26 to ₹346 Cr in Q1 2026-27 — payroll costs are rising with headcount growth
Company insights, generated from the most recent coverage.
ABFRL's savings came from store rationalisation and lower discounting, not technology — leaving AI-led demand forecasting and inventory optimisation as the unexploited lever in a business where working capital intensity is the core problem.
Birla Opus paints and Birla Pivot sit inside Grasim's Building Materials segment, not ABFRL. Q1 FY27 ABFRL filings carry no mention of paints, building materials or Indriya — so these launches do not shift ABFRL's revenue mix at all.
ABFRL's Q1 FY27 mix is still lopsided: Pantaloons ~59% of segment revenue at a 15.9% EBITDA margin, while Ethnic runs at 0.1% and TMRW at −19.2%. Consolidated revenue of ₹2,026 Cr grew 11% YoY at an 8.2% margin — growth is coming from the one profitable format.