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Buy Aditya Birla Fashion and Retail; target of Rs 305: Motilal Oswal

Motilal Oswal is bullish on Aditya Birla Fashion and Retail recommended buy rating on the stock with a target price of Rs 305 in its research report dated February 08, 2023.

February 10, 2023 / 14:50 IST
     
     
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    Motilal Oswal's research report on Aditya Birla Fashion and Retail

    ABFRL’s EBITDA/PAT declined 25%/97% YoY (miss) to INR4.4b/INR67m, as a healthy revenue growth of 20% to INR35.9b was offset by aggressive marketing spends, higher rental costs and losses in new ventures. The Lifestyle business is witnessing strong traction, led by premium categories, but cumulative losses in new businesses (D2C, Ethnic and Reebok) are expected to increase to >INR1.5b in FY24, along with a sluggish recovery in Pantaloons. The numbers should gradually recover from FY25 onward.

    Outlook

    Accordingly, we cut FY24E EBITDA by 13% and build in an EBITDA CAGR of 27% over FY23-25E. We reiterate our Buy rating with a TP of INR305.

    For all recommendations report, click here

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    Aditya Birla Fashion and Retail - 08 -02 - 2023 - moti

    Broker Research
    first published: Feb 10, 2023 02:50 pm

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