Future Retail gleams in new avatar

Asset-light model should result in profitable growth

With 100 per cent stock rise this year, Future Retail is a winner. Some part could be down to coming share issue of Avenue Supermart, and improvement in financial performance after restructuring.

Future Retail was re-listed in August. Its net profit has surged for the past three quarters — total profit for the first nine months of FY17 was Rs 245 crore. In its new avatar, the company is projected as a pure-play retailer. Unlike its earlier model of taking debt to expand, Future Retail will be mostly asset-light, incurring only working capital costs. 

From FY15 till now, working capital