Aditya Birla Fashion and Retail Limited (ABFRL) reported consolidated revenue from operations of Rs. 8,177 crore (US $855.51 million) for FY ‘2025-26, registering an 11% year-on-year increase from Rs. 7,355 crore (US $769.52 million) in the previous fiscal.
The company posted EBITDA of Rs. 967 crore (US $101.17 million), up from Rs. 854 crore (US $89.35 million) in FY ‘2024-25, with the EBITDA margin improving to 11.8% from 11.6%. However, the consolidated net loss widened to Rs. 830 crore (US $86.84 million) from Rs. 624 crore (US $65.29 million) a year earlier, while loss before tax stood at Rs. 888 crore (US $92.91 million) compared to Rs. 880 crore (US $92.07 million) in FY ’25. The company noted that FY ’25 and FY ’26 results included exceptional gains and losses of Rs. 161.15 crore (US $16.86 million) and Rs. 39.86 crore (US $4.17 million), respectively.
According to ABFRL its e-commerce business grew by over 20% during the year and contributed around 16% of total revenue. The retailer also added more than 180 stores, taking its network to 1,273 stores with a retail footprint of nearly 7.9 million sq. ft., compared to 1,167 stores and around 7.3 million sq. ft. in FY ’25.
Among its business segments, ethnicwear emerged as the fastest-growing profitable business, with revenue rising 14% to Rs. 2,227 crore (US $232.99 million) from Rs. 1,956 crore (US $204.64 million). EBITDA more than doubled to Rs. 242 crore (US $25.32 million) from Rs. 102 crore (US $10.67 million), while the EBITDA margin expanded to 10.8% from 5.2%. The segment also delivered 16% like-to-like growth and expanded its retail network to more than 680 stores after adding over 80 outlets during the year.
Within the portfolio, TASVA recorded 38% sales growth and expanded to 94 stores, while Jaypore posted 23% growth. TCNS delivered 10% like-to-like growth, with its full-year cash losses reducing by more than half compared to the previous year.
The Luxury Retail business also posted a strong performance, with revenue increasing 15% to Rs. 596 crore (US $62.36 million), while EBITDA grew 23% to Rs. 175 crore (US $18.31 million). EBITDA margin improved by 190 basis points to 29.4%. The business was supported by the launch of Galeries Lafayette Mumbai, India’s first Galeries Lafayette department store, spread across 90,000 sq. ft. in Kala Ghoda.
The Masstige and Value Retail segment, led by Pantaloons, generated Rs. 4,560 crore (US $477.09 million) in revenue, up 4% year on year. EBITDA stood at Rs. 739 crore (US $77.32 million), with a margin of 16.2%.
Pantaloons operated 399 stores across 28 states and Union Territories at the end of FY ’26. The company’s value fashion format OWND expanded its presence to 79 stores after opening 34 new outlets during the year.
ABFRL’s digital-first fashion platform TMRW reported 34% revenue growth, with revenue reaching Rs. 876 crore (US $91.65 million) during FY ’26. Including Wrogn, business revenue crossed Rs. 1,100 crore (US $115.09 million).
The platform reported an EBITDA loss of Rs. 207 crore (US $21.66 million), largely unchanged from Rs. 206 crore (US $21.55 million) in the previous year. During FY ’26, TMRW secured its first external investment of Rs. 437 crore (US $45.72 million) from ServiceNow Ventures and expanded its offline presence to around 120 exclusive stores across its portfolio.
