Aditya Birla Fashion & Retail – Q1 FY25 Update

Performance Snapshot Net Loss: ₹2.12B vs ₹1.6B (YoY) – losses have widened Revenue: ₹18.31B vs ₹16.74B (YoY) – solid growth EBITDA: ₹1.11B vs ₹895.5M (YoY) – operating performance improving EBITDA Margin: 6.10% vs 5.35% (YoY) – margin expansion My Outlook & Positives Revenue growth shows demand resilience despite challenges. Margin improvement indicates better cost control and operational efficiency. Strong brand portfolio (Pantaloons, Van Heusen, Allen Solly, etc.) keeps them competitive in lifestyle retail. Expansion in premium & ethnic wear segments can unlock future growth. Risks & Watchpoints Consistent losses mean profitability is still not in sight — market may stay cautious. High operating expenses in retail expansion could pressure margins. Consumer sentiment shifts or slowdown in discretionary spending could impact sales.