Key Highlights of Q4 and FY20 Performance
Full year revenue records 8% growth at
Company expands retail footprint; adds close to 400 retail stores through FY20.
Strong growth momentum seen across business segments pre-COVID.
COVID-19 induced economic standstill impacted quarterly performance; Operations have now resumed at all manufacturing facilities; More than 1/3rd of stores have now reopened.
Board approves
Standalone Financials
In Rs. Cr FY19 FY20
(Comp.) FY20
(Ind AS Adj.)
Revenue 8118 8743 8743
EBITDA 619 518 1290
PBT 149 57 -9
In Rs. Cr Q4 FY19 Q4 FY20
(Comp.) Q4 FY20
(Ind AS Adj.)
Revenue 1915 1817 1817
EBITDA 149 -43 173
PBT 31 -167 -178
BUSINESS UPDATE
ABFRL had a strong Financial Year 19-20 as it crossed some key growth milestones. For the first 9 months of the fiscal, the business grew its revenue by 12% and EBITDA by
19% basis strong performance in the festive season.
The business continued to grow strongly in the months of January and February led by weddings and an extremely successful EOSS.
COVID-19 IMPACT
However, as the country was struck by the COVID-19 pandemic early March leading to movement restrictions and heightened sense of insecurity among people, consumers started to stay away from all non-essential shopping. This dramatically reduced the footfalls at stores across the country leading to a steep decline in sales from the second week of March. Eventually, the Company had to shut down its entire retail network through the month in line with the nationwide lockdown announced by the
During this period, the Company took every possible precaution to ensure safety of its staff across the country. The Company has started to slowly resume its operations across the country in line with guidance issued by MHA and local authorities. The Company has managed to resume operations at all manufacturing facilities and most warehouses. As of today, out of a total network of 3041 stores, more than 1300 stores have started operations. Each store is being opened with utmost precautions, implementing the highest standards and protocols on safety and hygiene to make them absolutely safe for employees and consumers.
The business is also focused on accelerating its digital transformation journey across various parts of the value chain. E-commerce, as a route to market, is being scaled aggressively and the Company is also looking to introduce new omni-channel offerings.
Rising to the occasion, as part of
Performance Summary
The Board of Directors of the Company at its meeting today have approved the results for the quarter ended
For the financial year 2020, the Company recorded sales growth of 8% at
In Q4 FY20, the Company posted a decline of 5% in sales to
Business Segment Highlights
Madura Segment:
Lifestyle brands reported 5% drop in sales in Q4 FY20. The revenue for the period was
For FY20, the reported revenues grew 7% YoY to
Fast Fashion segment continued with its focus around improving operating performance. 'People' got fully transitioned into Pantaloons while Forever 21 restructured the commercial arrangement with its parent.
Other Businesses portfolio has been growing rapidly driven by consistent performance of its constituent sub-segments viz. innerwear and global brands.
For the financial year 2020, the segment recorded a robust 42% growth in sales to
Innerwear continued with its aggressive scale up by expanding the distribution footprint to 20,000 trade outlets.
Global brands portfolio consisting of the Collective and international super premium brands continued its steady performance
Pantaloons Segment:
In line with the strong growth momentum seen in the first 9 months of this fiscal year, Pantaloons posted an outstanding growth of 13% in the first two months of the fourth quarter. However, due to impact of COVID in the month of march, the reported revenue for the quarter fell by 1% to
For the full year, Pantaloons delivered a 10% growth in sales to
Corporate action
The Board of Directors of
Outlook
About
Disclaimer : Certain statements in this 'Press Release' may not be based on historical information or facts and may be 'forward looking statements' within the meaning of applicable securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development, information or events, or otherwise. This 'Press Release' does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company's shares. The financial figures in this 'Press Release' have been rounded off to the nearest
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