Aditya Birla Fashion & Retail Ltd

About [ edit ]

Aditya Birla Fashion and Retail Ltd. (ABFRL) emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising ABNL's Madura Fashion division and ABNL's subsidiaries Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MFL) in 2015.
ABFRL is a part of the Aditya Birla Group, a US$ 48.3 billion Indian multinational, in the league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 34 countries across the globe. #

Key Points [ edit ]
  • Market Cap 19,008 Cr.
  • Current Price 224
  • High / Low 234 / 117
  • Stock P/E
  • Book Value 31.7
  • Dividend Yield 0.00 %
  • ROCE -12.4 %
  • ROE -33.6 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 7.08 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -3.00% over past five years.
  • Company has a low return on equity of -9.97% for last 3 years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.199.30 Cr.
  • Debtor days have increased from 40.36 to 50.89 days.
  • Promoter holding has decreased over last 3 years: -3.12%

Peer comparison

Sector: Retail Industry: Textiles - Products

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
2,007 2,282 1,915 2,065 2,297 2,562 1,817 320 1,019 2,059 1,784 774
1,865 2,109 1,791 1,751 1,951 2,153 1,674 671 1,020 1,647 1,527 936
Operating Profit 143 173 124 314 346 409 144 -351 -2 412 257 -162
OPM % 7% 8% 6% 15% 15% 16% 8% -110% -0% 20% 14% -21%
Other Income 19 13 24 18 16 14 17 177 141 14 20 24
Interest 50 48 45 94 105 105 106 125 144 110 120 84
Depreciation 69 68 73 202 221 221 232 233 238 227 247 227
Profit before tax 43 70 31 35 36 98 -178 -533 -242 89 -89 -449
Tax % 0% 0% -564% 39% 81% 134% 21% 25% 25% 25% -51% 25%
Net Profit 43 70 203 22 7 -33 -140 -400 -181 66 -135 -335
EPS in Rs 0.50 0.81 2.35 0.25 0.08 -0.39 -1.62 -4.63 -2.34 0.86 -1.59 -3.95

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
14 13 17 1,285 1,661 1,851 6,034 6,603 7,172 8,118 8,743 5,181 5,635
22 13 17 1,205 1,616 1,776 5,621 6,124 6,661 7,526 7,473 5,075 5,130
Operating Profit -9 0 1 80 45 75 413 479 511 591 1,270 107 505
OPM % -65% 1% 3% 6% 3% 4% 7% 7% 7% 7% 15% 2% 9%
Other Income 1 0 1 58 5 3 26 37 30 65 65 73 199
Interest 13 0 0 153 129 122 211 220 212 225 467 11 457
Depreciation 5 0 0 54 109 183 338 242 281 282 877 945 939
Profit before tax -25 0 2 -69 -188 -228 -110 54 49 149 -9 -776 -692
Tax % -0% 75% 32% 0% 0% 0% 0% 0% -141% -115% -1,497% 16%
Net Profit -25 0 1 -69 -188 -228 -110 54 118 321 -145 -650 -585
EPS in Rs -18.12 -22.02 -1.28 0.62 1.37 3.72 -1.68 -7.66 -7.02
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:82%
5 Years:-3%
3 Years:-10%
TTM:-19%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-3%
Stock Price CAGR
10 Years:%
5 Years:10%
3 Years:10%
1 Year:80%
Return on Equity
10 Years:%
5 Years:-4%
3 Years:-10%
Last Year:-34%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1 1 1 1 93 93 773 771 772 774 774 915
Reserves -1 -1 0 -78 486 252 133 188 321 655 412 1,770
Borrowings 0 0 0 1,731 1,050 1,311 1,850 2,045 1,861 1,702 5,243 3,188
1 2 3 1,229 524 487 1,831 2,033 2,779 3,490 3,259 3,890
Total Liabilities 1 2 4 2,882 2,153 2,142 4,582 5,036 5,734 6,621 9,689 9,763
0 0 0 1,637 1,633 1,579 2,323 2,487 2,582 2,555 4,728 4,506
CWIP 0 0 0 14 25 4 25 25 46 22 44 35
Investments 0 0 0 800 6 0 0 0 4 4 170 989
1 2 3 431 489 559 2,234 2,524 3,101 4,039 4,747 4,233
Total Assets 1 2 4 2,882 2,153 2,142 4,582 5,036 5,734 6,621 9,689 9,763

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-22 0 0 3 70 -36 311 425 595 528 662 1,150
5 -0 0 -820 681 -109 -186 -446 -325 -277 -574 -985
17 0 0 843 -766 141 -133 51 -247 -266 120 -266
Net Cash Flow 0 -0 0 25 -14 -4 -8 30 23 -15 208 -101

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 112% 290% 11% -4% -6% 5% 10% 9% 12% 10% -12%
Debtor Days 16 18 37 0 4 1 19 25 28 35 35 51
Inventory Turnover 83.23 74.60 4.98 2.94 2.69 3.11 2.20 2.25 2.24 2.04 1.24

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
59.24 59.24 59.10 59.10 59.09 59.09 59.07 59.07 59.79 59.76 56.10 56.12
9.50 9.53 9.84 9.80 9.70 9.36 8.43 6.39 6.09 6.28 13.95 13.91
19.03 18.81 18.14 18.44 20.28 20.52 21.35 22.10 21.70 21.73 17.53 16.63
0.00 0.08 0.16 0.31 0.51 0.59 0.59 0.59 0.59 0.59 0.55 0.39
12.23 12.34 12.76 12.34 10.41 10.06 9.99 11.28 11.31 11.12 11.37 12.45
0.00 0.00 0.00 0.00 0.00 0.38 0.58 0.58 0.52 0.52 0.50 0.50

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