Aditya Birla Fashion arm takes 100% Imperial Online stake

Aditya Birla Fashion and Retail Limited

through its subsidiary Aditya Birla Digital Fashion Ventures Limited, has acquired the remaining 15.62% stake in Imperial Online Services Private Limited, taking its holding to 100%. Imperial Online runs the Urbano apparel brand, which posted FY26 turnover of Rs 119.38 crore. The buyout completes a milestone under a July 11, 2022 agreement, done via cash consideration with no regulatory approval required. Urbano's FY26 turnover was Rs 119.38 crore, up from Rs 77.93 crore in FY25 and Rs 66.78 crore in FY24, a rise of about 53% year on year. Paid up equity capital of Imperial Online stands at Rs 1.30 crore. This sits inside ABFRL's digital arm, TMRW, working toward brand level cash profitability. Full ownership removes minority interest and gives ABFRL control over Urbano's supply chain and distribution. It comes against continued group losses: consolidated Q1 FY27 revenue rose 11% year on year to Rs 2,026 crore, while net loss widened to Rs 249 crore from Rs 234 crore, on higher depreciation and finance costs. What stands out is the contrast in the same result set. A brand growing 53% year on year sits inside a parent still posting a Rs 249 crore quarterly loss. Buying the remaining stake now suggests ABFRL waited for Urbano to prove itself before paying for full control, a reasonable sequencing of capital. I would not read this as fixing ABFRL's core profitability problem, since that still depends on the offline business and TMRW's other brands, not Urbano alone. Watching Urbano's contribution to TMRW next quarter, management's timeline for digital cash profitability, and whether the consolidated net loss narrows in Q2 FY27. Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations