Aditya Birla Fashion and Retail Ltd., incorporated in the year 2007, is a Large Cap company (having a market cap of Rs 18633.86 Crore) operating in Retail sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 836.29 Crore, down -54.53 % from last quarter Total Income of Rs 1839.24 Crore and up 66.74 % from last year same quarter Total Income of Rs 501.54 Crore. Company reported net profit after tax of Rs -351.75 Crore in latest quarter.
Investment Rationale
The brokerage expects a higher normalized sales growth of mid-teens (vs 10% in FY16-20) and EBITDA margin (pre IndAS) at 9% in FY24E (vs. ~7% pre-Covid). Stock trades at 22x/18x FY23E/24E EV/EVITDA. Turnaround in innerwear/international brands can offer upsides.
Promoter/FII Holdings
Promoters held 56.1 per cent stake in the company as of June 30, 2021, while FIIs held 13.9 per cent, DIIs 16.6 per cent and public and others 13.3 per cent.
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