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Madura Fashion & Lifestyle Contributes ₹7.554 Million; Ethnic Wear Segment Sees Strong Growth with 42% Increase in Sabyasachi's Revenue
Sectors & Markets
08 October, 2024
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Aditya Birla Fashion and Retail Limited (ABFRL) recently published its annual financial report for the fiscal year 2023-2024. The results indicate a positive trajectory for the company, reflecting robust growth in several key performance indicators (KPIs) and strong contributions from its ethnic wear and digital-first brand segments. The report highlights the company’s continued resilience amidst evolving market dynamics, with a focus on expansion, sustainability, and digital transformation.
In the fiscal year ending 31 March 2024, ABFRL reported consolidated revenue of ₹13.996,0 million, a 12,7% increase from the previous year’s ₹12.418,0 million. The company achieved an EBITDA of ₹1.703,0 million, with a margin of 12,2%, up from ₹1.617,0 million in FY2023. Despite the growth in revenue, the company posted a loss of ₹736,0 million, primarily driven by increased costs and investments in new ventures.
Table: Financial KPIs (₹ Million)
| KPI | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| Revenue | 8.136,0 | 12.418,0 | 13.996,0 |
| EBITDA | 1.203,0 | 1.617,0 | 1.703,0 |
| PAT | -118,0 | -59,0 | -736,0 |
| EBITDA Margin (%) | 14,8% | 13,0% | 12,2% |
The company’s operations within India contributed significantly to its overall performance, accounting for ₹13.703,0 million of revenue, with international operations adding ₹293,0 million. The continued strength of domestic demand, particularly in ethnic and lifestyle segments, reinforced the company’s dominance in the Indian fashion market.
ABFRL’s retail operations across its various brands contributed substantially to its revenue. The retail division generated ₹4.297,94 million in FY2024, showing stability compared to ₹4.231,20 million in the previous year. Non-retail operations also showed growth, particularly in e-commerce, where the company’s digital-first brands, including collaborations with major platforms, have helped drive sales.
ABFRL’s diverse brand portfolio continues to be a cornerstone of its business strategy. Madura Fashion & Lifestyle, which includes brands like Louis Philippe, Van Heusen, and Peter England, contributed ₹7.554,0 million to revenue. The ethnic wear segment, featuring brands like Sabyasachi, Shantnu & Nikhil, and House of Masaba, experienced robust growth, with a 42% revenue increase from Sabyasachi alone.
ABFRL’s sustainability roadmap, ‘ReEarth 2.0’, has made significant strides towards achieving its 2025 goals. Key achievements include reaching 100% water positivity across owned facilities and attaining zero waste to landfill status. Additionally, ABFRL has committed to sourcing 50% of its energy from renewable sources by 2025. The company also won multiple awards, including the Financial Times FT Climate Leadership Award 2023 and the Arogya World Healthy Workplace Award.
ESG Highlights:
- Achieved 67% renewable energy use across owned facilities
- Zero waste to landfill achieved across operations
- 14,5 lakh square feet of built environment certified as green buildings
ABFRL’s financial results for FY2024 showcase its resilience and adaptability in the fast-evolving fashion market. With a strong focus on expanding its ethnic wear portfolio and a deep commitment to sustainability, the company is well-positioned for future growth. ABFRL’s continued investment in digital transformation and sustainable practices reflects its long-term vision to lead both in financial performance and corporate responsibility. Going forward, the group aims to enhance its presence in both domestic and international markets, with a particular emphasis on sustainability, circular economy, and innovative retail experiences.
The group’s performance in FY2024, though marked by a net loss, demonstrates potential for long-term gains, driven by strong revenue growth and a diversified portfolio. The focus on digital and ethnic segments aligns with consumer trends in India, positioning ABFRL well for future success. However, controlling costs and improving profitability will be crucial in the coming years.
Read the full Aditya Birla Fashion and Retail Limited Group report Here.
Cover Image Courtesy: Sabyasachi Website