Page 3 - Aditya Birla Fashion And Retail

Aditya Birla to bring luxury department stores Galeries Lafayette to India

Flagship stores in Mumbai and Delhi will have more than 200 luxury and designer brands

In-store sales back in vogue: Apparel retailers see record revenues in Q2

Aditya Birla Fashion and Retail, Trent, Shoppers Stop, Arvind Lifestyle, and TCNS Clothing Company saw their revenues hitting an all-time high in the September quarter

Aditya Birla Fashion Q2 revenue up 50%, hits lifetime high; profit rises 6x

ABFRL is aggressively expanding its network across brands with Pantaloons adding 21 outlets on a net basis and the branded business taking the store count up by 85

ABFRL gets Sebi exemption in Rs 2,195-crore investment by Caladium

Aditya Birla Fashion and Retail Limited (ABFRL) on Wednesday said market regulator SEBI has granted it exemption over lisiting of shares worth Rs 2,195 crore alloted to Caladium Investment Pte Ltd, a foreign portfolio investor. Based on the in-principle approval received from the stock exchanges, the Aditya Birla Group firm had made an application to the stock exchanges who approached SEBI and sought an exemption under Rule 19(7) of the SCRR from Rule 19(2)(b), in relation to the proposed listing of warrants pursuant to the preferential issue of the Company. "In this regard, we wish to inform you that SEBI vide its letter dated September 7, 2022 to the Stock Exchanges that it has granted relaxation to the Company from applicability of Rule 19(2)(b) of the SCRR for Preferential Issue of listed warrants," it said Under rule 19(2) (b) of SCRR, exemptions are granted to listed companies from making public issue for listing of securities different from the existing listed ...

Would surpass Rs 21,000-crore revenue target by 2026: ABFRL chairman

Aditya Birla Fashion and Retail Ltd (ABFRL) is confident of fortifying its market position further and surpassing the projected revenue of Rs 21,000 crore by 2026, said its chairman Kumar Mangalam Birla on Monday. ABFRL is leveraging technology and its execution excellence to build a strong, profitable and future-ready brand portfolio, Birla told shareholders at the 15th annual general meeting of the company. "We had projected a revenue of Rs 21,000 crore for the year 2026 during our annual investor day held in March 2021. I am very confident that we will be able to surpass that target and set even higher milestones for the business going forward," he said. For the financial year ended on March 31, 2022, ABFRL's revenue stood at Rs 8,136 crore, recording a growth of 55 per cent. "The strong revenue recovery resulted in improved profitability over the previous year. Several initiatives encompassing cost management, supply chain optimisation and smart procurement were taken up by the

Caladium Investments gets CCI nod for acquiring minority stake in ABFRL

The Competition Commission of India (CCI) on Tuesday said it has cleared the proposed acquisition of a minority stake in Aditya Birla Fashion and Retail Ltd by Caladium Investments, an affiliate of Singapore-based sovereign wealth fund GIC. The proposed transaction relates to the acquisition of a 7.49 per cent stake in Aditya Birla Fashion and Retail Ltd on a fully diluted basis by Caladium Investment Pte. Ltd by way of preferential issuance of equity and warrants. In a tweet, the CCI said it has approved the "acquisition of approximately 7.49% shareholding in Aditya Birla Fashion and Retail Limited on a fully diluted basis by Caladium Investment Pte. Ltd (GIC Investor) by way of preferential issuance of equity and warrants". In May, Aditya Birla Fashion and Retail Ltd (ABFRL) announced that it will raise up to Rs 2,195 crore from Caladium Investments, a GIC investor. ABFRL is engaged in the business of manufacturing and retailing branded apparels while GIC is a leading investment

Stocks to Watch: LIC, ONGC, Max Health, Hero Moto, Zee Entertainment, M&M

State-owned insurance behemoth Life Insurance Corporation (LIC) reported a net profit of Rs 682.88 crore in the April-June quarter (Q1) of FY23, driven by its non-par business.

ABFRL looking at FY23 with cautious optimism, says Kumar Mangalam Birla

'The Indian economy is headed towards a steady recovery and as the vaccination drives progress, consumers are expected to get back to shopping with renewed confidence'

Couture gets corporate push as designers get capital, support for vision

Covid has been a game changer for the fashion industry and the ripples of its after-effects can be seen with many designers struggling to stay afloat

Aditya Birla Fashion charts expansion plan as lifestyle brands grow

Brokerages have mixed views about company raising funds, citing equity dilution and capital allocation risk.

GIC Singapore to invest Rs 2,195 cr in Aditya Birla Fashion and Retail

Post investment, GIC Singapore will own approximately 7.5% equity stake in Aditya Birla Fashion and Retail

Aditya Birla Fashion to sell minority stake to private equity firms

On Monday, the stock closed flat at Rs 273 a share, thus, giving a total market valuation of Rs 25,618 crore to the company

Aditya Birla Fashion selects Accenture to speed up its digital shift

Accenture will design, develop, and deploy an ERP system based on SAP S/4HANA to streamline business processes, improve visibility and accessibility of data across ABFRL

Accenture to deploy ERP system for ABFRL for better customer service

The system will be designed to enhance customer service by combining ABFRL's manufacturing and retail functions into a digital core for fashion and vertical business, it said

ABFRL eyes over 10% of revenue from new age digital brands in 3-5 years

ABFRL will look at buying out a majority stake in D-2-C brands it will invest in as it has done in the past in its other investments.

Aditya Birla Fashion to set up subsidiary for entry into D2C space

Venture will initially be funded through ABFRL's internal accruals and at an appropriate time, the firm will look to bring in external capital to accelerate growth

ABFRL net profit jumps over three-fold to Rs 196.80 cr in December quarter

Aditya Birla Fashion and Retail Ltd on Friday reported over a three-fold jump in its net profit to Rs 196.80 crore for the third quarter ended December 31. The company had posted a net profit of Rs 58.44 in the year-ago quarter, Aditya Birla Fashion and Retail Ltd (ABFRL) said in a regulatory filing. Its revenue from operations rose 43.87 per cent to Rs 2,987.10 crore during the quarter under review, against Rs 2,076.19 crore in the corresponding period of the previous fiscal. ABFRL's total expenses increased 36.52 per cent to Rs 2,744.35 crore in the quarter, from Rs 2,010.17 crore a year ago. Its revenue from Madura Fashion & Lifestyle segment surged 57.59 per cent to Rs 1,990.52 crore, compared to Rs 1,263.10 crore in the year-ago quarter. Pantaloons' revenue increased 31.45 per cent to Rs 1,066.43 crore, against Rs 811.27 crore. Shares of Aditya Birla Fashion and Retail Ltd on Friday closed 2.91 per cent lower at Rs 295.30 apiece on the BSE.

ABFRL to acquire 51% stake in brand Masaba, aims Rs 500 cr revenue in 5 yrs

Aditya Birla Fashion and Retail Ltd on Friday said it will acquire a 51 per cent majority shareholding in brand 'Masaba' promoted by designer Masaba Gupta for a cash consideration of Rs 90 crore.

Aditya Birla Fashion collaborates with Germany's GIZ to boost circular biz

Aditya Birla Fashion and Retail Limited (ABFRL) on Wednesday announced collaboration with Germany's GIZ, a move aimed at strengthening circular business practices for the Indian market.

Arvind, KPR Mill, Gokaldas: Textile stocks that can gain up to 12%

Major textile stocks are witnessing sideways to breakout formations, this may see stronger interest of market participants.