with a market capitalization of 26,345.16 Crore, Aditya Birla Fashion & Retail Limited is a Large Cap business operating in the Consumer Discretionary industry. The firm, which manufactures leading international fashion labels for men, women and children, is India’s largest manufacturer and retailer of branded fashion apparel. Aditya Birla Fashion and Retail Limited (ABFRL), a subsidiary of the Fortune 500 Aditya Birla Group, is a multinational corporation with operations in 36 countries in North and South America, Africa and Asia.
The company’s board of directors today said in a stock exchange filing that “We wish to inform you that, the company proposes to raise funds by issue of 5,000 listed, unsecured, rated, redeemable non-convertible debentures of face value Rs. 10,00,000 (Rupees Ten Lakhs only) each issued at par 5,00,00,00,000 (Rupees Five Hundred Crore only), by way of private placement, on or after January 13, 2023. The above is within the limits approved by the Board of Directors and shareholders of the Company from time to time. ,
For the quarter ending September 2022 or Q2FY23, Aditya Birla Fashion and Retail reported its highest ever quarterly revenue, up 50% YoY at Rs. 3075 crores. With an increase of 33% over pre-COVID levels. For the quarter, consolidated EBITDA increased to Rs. 418 crores.
Based on the outlook for the next financial year, Aditya Birla Fashion & Retail Limited (ABFRL) in its annual report said that “The next financial year is going to be a race to normalcy for the industry with active market sentiments again. Your Company is looking at the new financial year with cautious optimism on the markets and consumer preferences. The Indian economy is heading towards a steady recovery, which was evident during the festive season of FY22. As the vaccination drive progresses across the country, consumers are expected to return to shopping with renewed confidence. As mobility picks up, demand for categories including formals, occasion wear, festive wear and accessories will improve. For the long term, India remains on a strong valve manufacturing trajectory, given the underlying growth drivers such as favorable demographics, rising per capita and disposable income and rising consumption. With a digitally and structurally transformed business, your Company is on a growth path to make the most of the opportunities post pandemic. There has been a significant change in the capital structure of your company, further strengthening the balance sheet; It provides the necessary base to support the ambitious development plans it pursues. A strong and healthy balance sheet coupled with a diversified and well-executed portfolio play will enable your company to position itself as a leader across fashion and lifestyle segments ranging from value, premium to luxury brands.”
Shares of Aditya Birla Fashion & Retail Ltd closed today on NSE 278.75 each, down 0.32% from the previous close 279.65. The stock recorded a total volume of 2,523,914 shares as compared to 20-day average volume of 1,782,717 shares. The stock has fallen 4.55% in last 1 year.
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