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Informist, Saturday, May 23, 2026

By Taniva Singha Roy

MUMBAI – Aditya Birla Fashion and Retail Ltd. is expected to report a net loss for the March quarter on account of margin pressure and high costs. But revenue is expected to rise driven by healthy performance of Pantaloons.

The company, which houses brands such as Louis Philippe, Van Heusen, and Pantaloons, is expected to report a loss of INR 2.15 billion for the reporting quarter, according to the average of estimate from five brokerages. The estimate for the bottom line at the higher end is a loss of INR 2.37 billion by Anand Rathi Share and Stock Brokers Ltd. and the lowest is a loss of INR 1.71 billion by Emkay Global Financial Services Ltd.

The average of five brokerage estimates suggests revenue will rise nearly 13% on year, but fall over 18% sequentially to INR 19.41 billion. The estimates for revenue range from INR 19.18 billion at the lower end as estimated by Nuvama Wealth Management Ltd. to INR 19.78 billion by Motilal Oswal Financial Services Ltd. at the higher end.

Aditya Birla Fashion's revenue is expected to be driven by strength in selected segments. "Expect 15% year on year overall revenue growth, led by healthy performance of Pantaloons and the ramp-up of other segments," Motilal Oswal said in a report.

The company's earnings before interest, tax, depreciation, and amortisation are expected at INR 1.80 billion, down over 51% sequentially and over 45% year-on-year, according to the average of four estimates. The lowest estimate for EBITDA is INR 1.56 billion by Motilal Oswal Financial Services Ltd. and the highest estimate is INR 2.23 billion from Nuvama Wealth Management Ltd. Motilal Oswal expects EBITDA margin to contract 400 basis points on year to nearly 8% due to a dent from End of Season Sale in Pantaloons, losses in in OWND, TMRW, and Galeries Lafayette.

Friday, shares of Aditya Birla Fashion ended at INR 67.35 on the National Stock Exchange, up 0.9%. The stock has fallen over 2% since the company announced its December quarter earnings. 

Of the six brokerage reports on the company available with the Informist, three have a 'buy' or equivalent recommendation on the stock, with an average target price of INR 84. This is nearly 24% higher than the current market price. Two brokerages have a 'hold' or equivalent recommendation on the stock with an average target price of INR 76, while one brokerage has a ‘sell' or equivalent recommendation on the stock with an average target price of INR 68

Following are the March quarter earnings estimates for Aditya Birla Fashion and Retail Ltd. from five brokerage firms in the descending order of the estimate of net profit in INR billion:

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Edited by Akul Nishant Akhoury

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