ABFRL Q4 FY26: Revenue up 16% to ₹1,990 Crore, Pantaloons grows 19%
ABFRL reported Q4 FY26 revenue of ₹1,990 crore, up 16% YoY. Pantaloons revenue grew 19%, and TMRW grew 45%. Excluding one-offs, EBITDA increased 29% with a 11.5% margin. Full-year revenue reached ₹8,177 crore, up 11%. The company added over 180 stores in FY26.
The announcement details significant revenue growth, improved profitability metrics, and strategic expansion, which are material factors for investors and stakeholders, impacting the company's valuation and future outlook.
The company reported strong revenue growth, improved EBITDA margins, and positive performance across key segments like Pantaloons and TMRW, indicating a healthy operational and financial turnaround.
Aditya Birla Fashion and Retail Limited (ABFRL) announced its Q4 and FY26 earnings, with the company posting a 16% year-on-year revenue growth to ₹1,990 crore for the fourth quarter, compared to ₹1,719 crore in the previous year. The Pantaloons segment was a key highlight, delivering a 19% year-on-year growth, driven by a 17% growth in the core Pantaloons format. TMRW also maintained momentum, achieving 45% growth.
Excluding one-off gains from the base quarter and derivative gains in TMRW's associate company, EBITDA grew by 29% year-on-year, with margins at 11.5%. The ethnic business saw a significant margin expansion of 390 basis points year-on-year, primarily due to a reduction in TCNS losses. Reported loss for the quarter stood at ₹164 crore, compared to ₹171 crore in the same period last year. Adjusting for demerger gains, TMRW's associate revaluation, and wage code impact, the loss at PAT level reduced from ₹289 crore to ₹235 crore.
For the full year FY26, ABFRL's revenue grew by 11% year-on-year to ₹8,177 crore. Adjusted EBITDA grew by 23% year-on-year to ₹903 crore, with margins improving to 11% from 10% last year. As of March 2026, ABFRL had a consolidated gross cash of ₹1,545 crore and a consolidated gross debt of ₹1,695 crore.
The company added approximately 70 new stores in Q4, bringing the total additions for the year to over 180 stores. The Pantaloons segment's revenue grew 19% year-on-year to ₹1,048 crore, with EBITDA margins at 15.5%. The ethnic business delivered annual revenue of ₹2,227 crore in FY26, growing 14% year-on-year, with an FY26 EBITDA margin expanding by 560 basis points to 10.8%. Tasva continued its strong growth trajectory, and Galeries Lafayette commenced operations in November 2025.
ABFRL's digital brands portfolio, TMRW, delivered 45% year-on-year growth in Q4. TMRW is now adequately funded with ₹800 crore cash following an equity issuance of ₹440 crore and a ₹500 crore NCD fund tie-up.
Management indicated that demand trends remained broadly in line with the previous quarter, though the wedding calendar was weaker. Geopolitical uncertainties caused some disruptions towards the end of Q4. The company expects inflationary pressures to persist for the next 3-4 months, potentially impacting demand in the second half of the year.
What to do with a filing like this
Aditya Birla Fashion and Retail Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by Aditya Birla Fashion and Retail Limited. Read the original for the full detail.