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Systematix Report
Aditya Birla Fashion and Retail Ltd. reported double-digit revenue growth in the June quarter, but profitability remained under pressure, prompting Systematix Research to maintain its 'Hold' rating and cut the target price to Rs 67 from Rs 73.
The brokerage believes earnings recovery could take longer than anticipated as investments in growth businesses and rising input costs continue to weigh on margins.
Aditya Birla Fashion's revenue rose 10.6% YoY to Rs 2,026 crore in Q1 FY27, broadly in line with the brokerage's expectations. However, operating performance lagged estimates as gross margin declined 74 basis points to 56.6% due to higher input costs.
Ebitda fell 2% YoY to Rs 117 crore, while Ebitda margin contracted 32 basis points to 5.8%. The company reported a net loss of Rs 215 crore during the quarter, compared with a loss of Rs 212 crore a year ago.
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