Future Lifestyle Fashions Ltd

About

Future Lifestyle Fashions Limited has been formed through the demerger of the lifestyle fashion businesses of Future Retail Limited and Future Ventures India Limited. It is an integrated fashion company with a presence across key segments within the fashion industry i.e. design to distribution. [1] [2]

Key Points

Products and Revenue
It has a portfolio of fashion brands (third party brands and home brands) like Lee Cooper (top-performing brand), Scullers, aLL, etc. It covers all the fashion categories including formal menswear, casual wear, active or sportswear, ethnic wear, denim wear, footwear, and accessories for men and women that are present across various price points. [1]
FLF Brands contributed 35% of Revenue in Q3FY21. [2]

See full details
  • Market Cap 1,292 Cr.
  • Current Price 64.0
  • High / Low 105 / 46.5
  • Stock P/E
  • Book Value 34.8
  • Dividend Yield 0.00 %
  • ROCE -13.1 %
  • ROE -76.2 %
  • Face Value 2.00

Pros

Cons

  • Company has low interest coverage ratio.
  • Promoter holding is low: 20.39%
  • Company has a low return on equity of -14.23% for last 3 years.
  • Contingent liabilities of Rs.1222.15 Cr.
  • Promoters have pledged 100.00% of their holding.
  • Earnings include an other income of Rs.50.98 Cr.
  • Debtor days have increased from 37.54 to 65.63 days.
  • Promoter holding has decreased over last 3 years: -33.11%

Peer comparison

Sector: Retail Industry: Textiles - Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,336 1,692 1,381 1,540 1,572 1,742 1,443 86 409 950 832 298
1,218 1,526 1,257 1,282 1,314 1,421 1,295 196 461 908 755 397
Operating Profit 118 166 124 259 257 321 148 -110 -52 42 77 -99
OPM % 9% 10% 9% 17% 16% 18% 10% -128% -13% 4% 9% -33%
Other Income 7 12 20 11 11 11 -47 11 15 13 12 11
Interest 26 28 32 71 75 66 93 82 87 88 93 99
Depreciation 45 54 59 158 173 179 192 171 138 144 145 167
Profit before tax 54 97 53 40 21 87 -183 -353 -263 -176 -149 -354
Tax % 35% 33% -41% 39% 43% 32% 19% -0% 2% 1% -0% 2%
Net Profit 35 65 75 25 12 59 -149 -353 -258 -174 -149 -348
EPS in Rs 1.81 3.32 3.84 1.26 0.59 2.94 -7.37 -17.49 -12.78 -8.60 -7.38 -17.25

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
3,893 4,912 5,728 6,297 2,277 2,489
3,555 4,477 5,174 5,270 2,256 2,520
Operating Profit 338 436 554 1,027 21 -31
OPM % 9% 9% 10% 16% 1% -1%
Other Income 85 12 10 -55 9 51
Interest 123 108 117 306 350 367
Depreciation 89 154 207 702 598 594
Profit before tax 210 186 240 -36 -918 -941
Tax % 49% 32% 19% -50% 1%
Net Profit 76 126 189 -53 -933 -928
EPS in Rs 4.01 6.62 9.71 -2.63 -46.26 -46.01
Dividend Payout % 20% 18% 14% 0% 0%
Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:-23%
TTM:-49%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-168%
Stock Price CAGR
10 Years:%
5 Years:-12%
3 Years:-46%
1 Year:-13%
Return on Equity
10 Years:%
5 Years:%
3 Years:-14%
Last Year:-76%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
38 38 39 40 40
Reserves 1,170 1,317 1,613 1,597 661
Borrowings 682 783 904 2,757 2,954
1,718 1,660 2,505 2,904 2,571
Total Liabilities 3,608 3,798 5,061 7,298 6,227
740 924 1,274 2,675 2,330
CWIP 190 290 158 178 61
Investments 216 217 349 345 323
2,462 2,366 3,280 4,099 3,513
Total Assets 3,608 3,798 5,061 7,298 6,227

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
676 508 562 791 303
-245 -488 -628 -872 -13
-428 0 146 -23 -258
Net Cash Flow 3 21 80 -104 32

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 28 23 25 22 66
Inventory Days 222 190 201 219 429
Days Payable 181 140 178 209 454
Cash Conversion Cycle 70 72 48 32 41
Working Capital Days 57 45 36 50 104
ROCE % 16% 16% 11% -13%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
53.48 53.48 53.43 45.89 45.86 45.78 45.78 20.39 20.39 20.39 20.39 20.39
15.19 15.09 13.40 22.01 22.67 22.75 22.92 21.14 20.36 19.97 19.95 20.06
16.47 16.88 19.78 19.38 18.93 18.79 18.55 14.03 13.99 13.98 13.97 13.93
14.86 14.55 13.40 12.72 12.54 12.51 12.58 44.26 45.08 45.48 45.50 45.44
0.00 0.00 0.00 0.00 0.00 0.18 0.18 0.18 0.18 0.18 0.18 0.18

Documents