1. At a Glance
ABLBL pulled in ₹1,841 crore revenue in Q1 FY26, netted ₹24 crore in profit, and added over 50 new stores. That’s like selling high-end shirts while still counting pennies for chai — premium positioning, modest bottom line.
2. Introduction
Born in 2025 (yes, it’s basically still in corporate kindergarten), Aditya Birla Lifestyle Brands has inherited the ABG retail DNA — big stores, big brands, big ambitions. With 4.7 million sq. ft. retail space, 3,305 exclusive brand stores, and presence in 37,000+ multi-brand outlets, they’re aiming to dress India’s urban middle class in western wear without making them sell a kidney.
3. Business Model (WTF Do They Even Do?)
The company’s core ispremium western wear retail, spanning:
- Exclusive Stores:Flagship brand outlets in malls and high streets.
- Multi-brand Outlets:Distribution muscle across 37,000+ MBOs.
- Shop-in-shops:Over 7,000 counters inside department stores.
Their edge? Scale, ABG brand recall, and supply chain reach. The catch? This is retail — margins vanish faster than a 90% sale rack.
4. Financials Overview
| Metric | Q1 FY26 | Q1 FY25 | Q4 FY25 | YoY % | QoQ % |
|---|---|---|---|---|---|
| Revenue (₹ Cr) | 1,841 | 1,784 | 1,942 | 3.2% | -5.2% |
| EBITDA (₹ Cr) | 286* | 279* | 309* | 2.5% | -7.4% |
| PAT (₹ Cr) | 24.06 | 22.9** | 29.0 | 5.1% | -17.0% |
| EPS (₹) | 0.20 | — | — | — | — |
*EBITDA from OPM.**PAT estimated from past margin.
Commentary:YoY growth is modest — barely enough to cover inflation. QoQ dip
suggests seasonal weakness or marketing burn.
5. Valuation (Fair Value RANGE)
P/E Method:
- FY25 PAT: ₹60 Cr ⇒ EPS = ₹1.20 (assuming post-IPO share count)
- Peer P/E: 45×–125× (retail specialty fashion)
- FV range = ₹54 – ₹150
EV/EBITDA Method:
- FY25 EBITDA: ₹1,223 Cr
- Industry EV/EBITDA: 15×–22×
- FV range = ₹120 – ₹176
DCF Method:
- Discount rate 10%, terminal growth 6%, growth 12% for 5 yrs.
- FV range = ₹110 – ₹160
Combined FV Range:₹110 – ₹160
Disclaimer:This FV range is for educational purposes only and is not investment advice.
6. What’s Cooking – News, Triggers, Drama
- 50+ New Stores:Expansion in Q1 — revenue boost potential but also higher opex.
- ESOP Scheme 2025:4.37M options — employees get skin
