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    Aditya Birla Fashion & Retail: Why we continue to remain cautious on the stock

    New businesses would continue to drag profitability and margin pressures witnessed last fiscal are likely to sustain in FY24 also.

    Bharat Gianani
    May 23, 2023 / 10:28 AM IST
    Aditya Birla Fashion & Retail: Why we continue to remain cautious on the stock

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Highlights Results miss estimates Near-term pressure for core business Scaling up new businesses Profitability pressure to continue Aditya Birla Fashion & Retail’s (ABFRL; CMP: Rs 190; Market cap: Rs 18,013 crore) Q4FY23 results were lower than Street expectations. While revenue growth was strong, profitability declined sharply, with the company reporting a huge loss at the net level. While ABFRL would deliver a healthy top-line growth (led by network expansion of core business and scaling up of new businesses), profitability is likely to remain under pressure...

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