ABFRL

The business is aligned to important themes: India’s retail growth (especially fashion/apparel), rising premium/ethnic wear, and omni-channel expansion. Post-demerger, ABFRL is focusing on certain segments: value/masstige retail (brands like Pantaloons), ethnic wear, luxury/aspirational brands and digital-first brands. This clarity could help. Margin improvement efforts: Some margin expansion has been reported (e.g., gross margin up 210 bps to 55.7%; EBITDA margin 16.3% in one review). ICICI Direct Balance sheet improvement: Debt has been reduced, and equity infusion (via QIP/preference) has improved financial resilience.