Page 2 - Aditya Birla Fashion And Retail

ABFRL aims to demerge Madura Fashion business into separate listed entity

Move aimed to create two growth engines with distinct value creation trajectories and a well articulated capital allocation strategy

Business Standard Manthan 2024: 'Next Chanel will be from India'

Panelists agree that Indian luxury brands will expand footprints across globe

NCLAT rejects insolvency proceedings plea against Aditya Birla Fashion

The National Company Law Appellate Tribunal (NCLAT) on Tuesday dismissed a plea of an operational creditor to initiate insolvency proceedings against Aditya Birla Fashion and Retail Ltd (ABFRL). The appellate tribunal upheld the order of the Mumbai bench, which had on October 11, 2023, dismissed the plea of In Style Fashion on the ground of pre-existing dispute. "Considering the overall facts and circumstance of the present case and in view of the foregoing discussion, we are satisfied that the Adjudicating Authority (NCLT) did not commit any error in rejecting the Section 9 Application filed by the Appellant on the ground of pre-existing dispute," said the NCLAT. In Style Fashion was a franchisee and commission agent for running the showroom of ABFRL. However, the NCLAT also said, "We do not agree with the finding of the Adjudicating Authority that the Section 9 application was time-barred and hit by limitation". Meanwhile, the appellate tribunal said the operational creditor has

Aditya Birla Fashion forms JV to bring Christian Louboutin to India

"This joint venture envisages the transfer of the current Indian business into a newly incorporated subsidiary of ABFRL where the partners will hold equal stake," ABFRL said in a release

ABFRL posts Rs 200.34 cr loss for Jul-Sep, sales at Rs 2,509.57 cr

Aditya Birla Fashion and Retail Ltd on Thursday reported a consolidated net loss of Rs 200.34 crore for the second quarter ended September 2023. The company had a net profit of Rs 29.42 crore during the July-September quarter of the previous fiscal, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL). Its revenue from operations was at Rs 3,226.44 crore crore during the second quarter of this fiscal. It was at Rs 3,074.61 crore in the corresponding period of the previous fiscal. The Aditya Birla group firm completed the acquisition of TCNS Clothing on September 26, 2023. "The consolidated financial results for the quarter ended September 30, 2023, are not comparable with previous quarters pursuant to the acquisition of subsidiary TCNS Clothing Co. Ltd," it said. ABFRL's total expenses were at Rs 3,500.27 crore in the September quarter. Its revenue from the Madura Fashion & Lifestyle' segment was at Rs 2,275.94 crore and Rs 1,021.50 crore from ...

Swiss-Asia Holding exits ABFRL, sells entire 1.03% stake for Rs 207 crore

Financial services company Swiss-Asia Holding Pte on Wednesday offloaded its entire 1.03 per cent stake in Aditya Birla Fashion and Retail Ltd (ABFRL) for Rs 207 crore through an open market transaction. Swiss-Asia Pte through its affiliate Griffin Growth Fund VCC sold the shares of ABFRL on the NSE. According to the block deal data available with the National Stock Exchange (NSE), Griffin Growth Fund VCC disposed of 97,33,098 shares, amounting to a 1.03 per cent stake, in ABFRL. The shares were sold at an average price of Rs 212.50 apiece, taking the deal size to Rs 206.82 crore. At the end of the September quarter, Swiss-Asia Holding Pte through its affiliate Griffin Growth Fund VCC owned 1.03 per cent stake in ABFRL, shareholding data pattern showed with the BSE. Meanwhile, these shares were acquired by US-based Cresta Fund Ltd at the same price. Following the stake sale, shares of Aditya Birla Fashion and Retail Ltd fell 1.21 per cent to close at Rs 211.60 per scrip on the NS

Retail cos expected to witness muted growth in Q3 after weak demand in Q2

In the apparel sector, few wedding dates and lingering weak consumption patterns are expected to hinder growth for companies

Aditya Birla Fashion acquires 51% stake in TCNS Clothing, becomes promoter

Aditya Birla Fashion Retail Ltd (ABFRL) has completed the acquisition of a 51 per cent stake in TCNS Clothing to become a promoter of the women's apparel brand. "The company has acquired 51 per cent of the expanded share capital of TCNS, thereby acquiring control over TCNS," ABFRL said in a late night regulatory filing on Tuesday. TCNS has become a subsidiary of the company, and will also be a material subsidiary of the company in accordance with SEBI Listing Regulations, it added. On May 5, Aditya Birla Group firm had announced that it will acquire a majority stake in TCNS Clothing, in a deal worth Rs 1,650 crore. As per the deal, it acquired TCNS Clothing's founding promoter's stake through an SPA (Share Purchase Agreement), followed by an open offer. As per SPA, ABFRL acquired a total of 1.41 crore equity shares constituting 22 per cent of the expanded share capital of the company. "Consequently, post conditional open offer and SPA closing, the company acquired 3.29 crore equi

Aditya Birla Fashion and Retail Q1FY24 results: Net loss of Rs 141 crore

The company's revenue from operations was up 11.1 per cent to Rs 3,196.06 crore as compared to Rs 2,874.76 crore in Q1FY23

CCI approves acquisition of TCNS Clothing by Aditya Birla Fashion

The proposed combination involves acquisition of 51% of the expanded share capital of TCNS Clothing Co Limited by the Aditya Birla Fashion and Retail Limited

Aditya Birla Fashion & Retail reports net loss of Rs 187 crore in Q4

The company's consolidated revenue from operation rose by 26.14 per cent to Rs 2,880 crore for the March quarter as compared to Rs 2,283 crore in the year-ago period

Sensex leaps 710 pts after a day's hiatus; TaMo, IndusInd rise 5%, PSBs dip

CLOSING BELL: Among sectors, the Nifty Private Bank, Realty, and Auto indices gained around 1.7 per cent each

TCNS deal may raise debt, near-term profitability risks for ABFRL: Analysts

Given that TCNS has been lagging peers in recovery and underperforming for more than two years now, only a successful turnaround of the same can create shareholder value, analysts said

Paytm, ABFRL, Coal India, BoI, Adani Power among top stocks to watch today

Stocks to Watch on May 8:Paytm's loss narrowed to Rs 168 crore from Rs 763 crore in the year-ago period.

Street cautious on ABFRL amid weak performance in value segment

Revenue performance was led by lifestyle brands which grew 18 per cent with 5 per cent like-to-like growth

Here's why Mehul Kothari recommends to Buy ABFRL, EaseMyTrip

According to the technical analyst from Anand Rathi, ABFRL can rally to Rs 285, while EaseMyTrip can jump to Rs 60.

Mehul Kothari suggests going long on Bajaj Finance, Aditya Birla Fashion

On the daily scale, Bajaj Finance is witnessing a fresh breakout which indicates a short term reversal

Birla scions Ananya & Aryaman join Aditya Birla Fashion & Retail Board

Ananya Birla is a business woman and platinum selling artist. She founded her first company, Svatantra Microfin at the age of 17 which is amongst India's fastest growing MFI's

Aditya Birla Fashion and Retail proposes to raise Rs 500 crore through NCDs

Aditya Birla Fashion and Retail Ltd (ABFRL) plans to raise Rs 500 crore through issuance of bonds on private placement basis. "The company proposed to raise funds by issuing 5,000 listed, unsecured, rated, redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, issued at par aggregating to Rs 500 crore on private placement basis, on or after January 13, 2023," the Aditya Birla group firm said in a regulatory filing on Friday. This is within the limits approved by the board and shareholders of the company, it added. ABFRL, part of the USD 60 billion global conglomerate, Aditya Birla Group is India's largest multi-brand retailer of International global brands such as Ralph Lauren, Hackett, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok. The company portfolio also includes fashion brands -- Louis Philippe, Van Heusen, Allen Solly and Peter England -- and fashion retailer Pantaloons.

Aditya Birla Group led incubator buys majority stake in 8 lifestyle brands

With these eight brands on board, TMRW has achieved a revenue run-rate of over Rs 700 crore and is on a path to cross an annual revenue rate of Rs 1,500 crore in the next 12 months