Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
th
(Rs. Crore)
Quarter 3
21%
9%
2014-15
(Previous
Year)
Reported
450
2014-15
(Previous
Year)
2
Proforma
2015-16
(Current
Year)
2014-15
(Previous
Year)
Reported
1,390
2014-15
(Previous
Year)
2
Proforma
1,349
1,627
Revenue
31
133
107
EBITDA
58
383
350
37
31
133
102
EBITDA (Reported)
58
383
313
(43)
11
12
(164)
31
(43)
11
(164)
31
Results
Merger related
1
adjustments
4,047
2015-16
(Current
Year)
4,618
43
39%
Notes:
(1) Adjustments include merger related cost of Rs. 5 Cr and a sum of Rs. 32 Cr towards elimination of profits on unsold inventory
between the two divisions as on April 1, 2015
(2) Pursuant to the Scheme of Arrangement referred to above, PFRL was renamed ABFRL on Jan 12, 2016. Previous Year Reported
figures represent figures for PFRL and are not comparable with current year. To make performance comparable, Proforma financials for
the previous year comprising MF&L and Pantaloons financial performance have been presented.
The Board of Directors of ABFRL at their meeting today has approved the third quarter results of the Company,
which are indeed robust. ABFRL has reported an impressive growth of 21% in its revenue for the third quarter
st
ended 31
discounting and promotion across channels. The company increased its advertising spends by 58% during the
quarter, in line with its strategy to further strengthen its brands. Increased promotional and advertising spends have
resulted in an EBITDA of Rs. 107 Cr for the quarter, which is 19.5% lower than the previous year.
Madura Fashion & Lifestyle
MF&L recorded a 16% Revenue Growth in Q3 across all channels, with same-store-growth of 5% in its exclusive
brand outlets. The division increased its advertising spends by ~64% during the quarter (on YOY basis).
Incremental provision for bonus (with retrospective impact for FY14-15) further impacted the profitability for the
period resulting in an EBITDA of Rs. 66 Cr, which is 36% lower than previous year.
14%
Pantaloons
Pantaloons experienced one of its best quarters with revenue growth of 32% and same-store-growth of 19%
across its network. This was aided by the spill-over of festive season from Q2 and early onset of End-Of-SeasonSale (EOSS) in Q3. The Division also opened 15 new stores in this quarter including its first ever franchisee store.
EBITDA for the quarter grew by 17% to Rs. 36 Crores despite the incremental impact of provision for bonus (with
retrospective impact for FY14-15).
Going Forward
The company will continue to leverage its market leadership through continued investments in brands, expansion
of its distribution reach across multiple formats and channels and product enrichment through design and
innovation. The company has also initiated a wide scale digital transformation through a comprehensive omnichannel program to create a seamless consumer experience across its physical and digital presence in-line with
the evolving consumer who is increasingly buying on-line.
For more information contact: Dr. Pragnya Ram, Group Executive President, Corporate Communications & CSR,
Aditya Birla Group, at +91-22-2499-5000 or pragnya.ram@adityabirla.com
Disclaimer :
Certain statements in this Press Release may not be based on historical information or facts and may be forward looking statements within the meaning of applicable
securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in
its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could
differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development,
information or events, or otherwise. This Press Release does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be
considered as a recommendation that any investor should subscribe for or purchase any of the Companys shares. The financial figures in this Press Release have been rounded off to the
nearest ` one Crore. The financial results are consolidated financials unless otherwise specified.
st
Aditya Birla Fashion and Retail Limited: Press Release for the quarter ended 31 December 2015
Page 2/2
Logo re-ordering
A US $ 41 billion corporation
In the league of Fortune 500
Operates in 36 countries
Over 130 state-of-the-art manufacturing units
Over 50% revenues from international operations
Anchored by 120,000 employees belonging to 42
different nationalities
Australia | Austria | Bangladesh | Brazil | Canada | China | Egypt | France | Germany | Hungary | India | Indonesia Italy | Ivory Coast | Japan | Korea | Laos
| Luxembourg | Malaysia | Myanmar | Philippines | Poland | Russia | Singapore | South Africa Spain | Sri Lanka | Sweden | Switzerland | Tanzania | Thailand |
Turkey | UAE | UK | USA | Vietnam
Leading Conglomerate
Globally
In India
1999 2006
2007-2013
Entry Phase
Transformation Phase
Acquisition of
Madura Garments
and transition to
retail business
through rapid
expansion
MF&L
JV with Hackett
2015
2007
2004
1999
Acquisition of Pantaloons
Fashion and Retail
2013
2006
Consolidation of apparel
business under one
umbrella
Pantaloons
5,450
4,759
3,802
1,851
1,661
1,285
473
621
830
1,026
1,116
1,251
FY05
FY06
FY07
FY08
FY09
FY10
1,811
2,243
2,523
FY11
FY12
FY13
3,226
3,735
FY14
FY15
Sr. No.
Activities
Status
May 3, 2015
Honble Gujarat High Court approved the Scheme (ABNL & MGLRCL)
Dec. 5, 2015
Jan. 5, 2016
Board Meeting to declare scheme effective (w.e.f. Appointed Date i.e. April 1, 2015)
Jan 9, 2016
Jan 9, 2016
Allotment of Shares
10
Feb 4, 2016
8
MBOs
4.8
Pantaloons and MF&L brands are
sold on all the leading websites in
India
Mar'15
E-Commerce
Dec'15
Combined Footprint
(million sq. ft.)
ABFRL OVERVIEW
NO.
LEADING BRANDS
OF INDIA
INR 4,618 cr
STYLING
PURE-PLAY FASHION
LIFESTYLE COMPANY
5.4 mn sq ft
LARGEST BRAND FOOTPRINT IN INDIA
WE OPERATE IN OVER
375
CONSUMERS
EVERY SECOND
7,000+
POINTS OF SALE
2,100+
EXCLUSIVE
BRAND OUTLETS
11
Board of Directors
Pranab Barua
Business Director,
Apparel & Retail
Business
Ashish Dikshit
Business Head,
Madura Fashion &
Lifestyle division
Shital Mehta
CEO, Pantaloons
division
S Visvanathan
CFO, Apparel & Retail
Business
Pranab, a 40+ year veteran in the consumer and retail industry, is business director for Apparels & Retail businesses of the Aditya Birla Group (ABG)
Before being associated with ABG, he was the CEO of Trinethra Super Retail which was acquired by the ABG in 2007.
He has previously worked in senior positions with Brooke Bond India, as Foods Director on the Hindustan Unilever Board, as Chairman and Managing Director of
Reckitt Benckiser and as Regional Director, Reckitt Benckiser for South Asia
He holds a graduate degree in B.A. (English Honours) from St. Stephens College, New Delhi
Ashish has been with the Aditya Birla Group for over 15 years having joined MF&L from Asian Paints in 1998
He has worked across several functions in the business and has headed its supply chain, marketing and sourcing functions over this period. He has also worked
as Principal Executive Assistant to the Chairman of ABG for more than 3 years
He is an Electronics and Electrical Engineer from IIT-Madras and holds a Postgraduate Diploma in Management from IIM-Bangalore
Shital has been with Aditya Birla Group for about 16 years with the Apparel Business. Previously, he served as the Chief Operating Officer of the International
Brands and Retail, Mf&L Fashions and Lifestyle
Prior to that worked as brand manager for Godrej Foods (1996-2000)
He is an MBA in marketing from SP Jain Institute of Management and Research and has attended advanced management programs at Wharton Business School
S. Visvanathan joined the Aditya Birla Group in 2007 and has been with the Apparel business since then.
He has 26 years of experience across industries spanning white goods, capital equipment, electrical equipment and auto components
Previously he has worked with the Tata Group in various capacities in auto components business, Voltas and Allwyn (CFO)
He is a commerce graduate from Chennai University and a qualified Chartered Accountant and Cost Accountant
13
14
2030
17%
7%
26%
40%
2020
25%
6%
3%
50%
2008
35%
12%
2%
1%
Deprived (<1985)
Aspirers (1985-4413)
Strivers (11032-22065)
Globals (>22065)
Seekers (4413-11032)
Source: World Factbook, CIA; IMF, GDP Growth Projections ; IMF, Mckinsey April 2010, Aranca Research ; CSO, D&B India
15
Sales
Pharmacy
2%
CAGR ~ 18%
93
Footwear
5%
Others
1%
28%
18%
Home Products
40
Apparel
3%
27%
15
Consumer Durables, IT
FY09
FY14
FY19E
16%
16
Value fashion increasing middle class, shift away from unorganized, greater aware-ness of the
shopping experience leading to a creation of large value fashion market (growing at 15%+)
Increasing share of women wear with changing cultural norms, more women working and large
number of younger women in cities, organised market is shifting away from being a predominant
menswear market
Supply led demand growth- growth of branded apparel market is led by increased supply
including entry of many International players across multiple segments
E-commerce - Deep investments by the e-commerce industry is creating rapid growth and
adoption of this channel. This has significantly increased the consumer reach for the industry
and leading brands. In addition to partnering with these players, brands are also establishing
their own play in this space.
17
18
Overall consumer sentiments continue to remain subdued for discretionary and lifestyle categories
However, industry recorded impressive growth due to shift in festive season from Q2 and early onset of End-Of-SeasonSale (EOSS) in Q3
The period was marked by intense competitive activities in forms of heavy promotions and deep discounts, led by ecommerce players
Revenue grew by an impressive 21%, with Pantaloons division growing by 32% and MF&L Brands by 16%
In line with its strategic focus on brands, advertising investments were increased by 58% for the quarter
EBITDA at Rs. 102 Cr (against Rs. 133 Cr in previous year) was impacted by
Increased promotional and advertising spends
Exceptional adjustments (merger related costs and incremental impact of provision for bonus*)
* As per the recent amendments to minimum bonus under the Payment of Bonus Act
19
1,349
1,627
4,047
4,618
35%
MF&L
65%
Pantaloons
21%
FY15
14%
FY15
FY16
FY16
133
102
23%
383
3.6
313
18%
4.2
EBOs / Stores
4.8
1,869
1.6
1,648
1,129
FY16
FY15
FY16
Mar'12
Mar'13
Mar'14
2,155
1,367
FY15
5.4
Mar'15
Dec'15
20
Luxury
Super
Premium
Premium
Sub
Premium
Fast
Fashion
Mass
24
1,062
913
FY15
3,064
16%
FY16
FY16
11%
FY16
2.5%
2.5%
FY15
FY16
1.8%
FY15
FY16
65.0
270
36%
4.6%
325
102
FY15
2,751
FY15
65
Q3 L2L Growth %
83.6
80.0
83.6
Dec'15
Sep'15
Dec'15
17%
FY15
FY16
Dec'14
PANTALOONS
Pantaloons Indicators
450
Q3 L2L Growth %
18.7
%
1,630
593
32%
1,390
17%
5.8%
1.2%
FY15
FY16
FY15
36
31
FY15
58
FY16
FY15
FY16
47.1
70
17%
FY16
FY15
FY16
44.7
47.1
45.0
21%
FY15
FY16
Dec'14 Dec'15
Sep'15 Dec'15
29
11%
514
464
16%
Kids
11%
Women
42%
MBOs
LFS
Revenue Q3FY15
Revenue Q3FY16
EBOs
Non
Apps
10%
Men
37%
182
156
150
108
Men
35%
Kids
10%
16%
39%
216
185
Non
Apps
13%
Women
42%
Others
Growth(%)
Regional Mix
East
Others
17%
Others
17%
Trade
20%
Trade
20%
120%
100%
80%
LFS
12%
EBOs
51%
LFS
14%
EBOs
49%
60%
40%
20%
16%
24%
16%
26%
32%
28%
28%
30%
West
North
South
0%
Q3FY15
Q3FY16
31
Particulars
Net Sales / Income from Operations
Proforma FY15
1,337
YTD Dec
FY16
1,617
12
10
1,349
1,627
584
CHANGE
Proforma FY15
4,010
FY16
4,587
37
31
4,047
4,618
730
1,777
2,106
137
167
396
465
Rent
162
183
471
516
Other Expenses
334
449
1,026
1,228
Total Expenses
1,217
1,528
3,670
4,314
133
102
383
313
64
55
190
176
Finance Cost
58
40
162
131
11
31
11
31
21%
CHANGE
14%
Expenses
Other Income
Profit before Depreciation/Amortisation, Interest and
Tax (PBDIT)
Tax Expenses
Net (Loss) / Profit for the period
26%
-23%
-38%
-38%
18%
-18%
-82%
-82%
Impact of:
Elimination of profit on unsold stock b/w divisions Rs. 32.3 cr
Payments of Bonus Act* (incl. for previous year) Rs. 15.9cr
Expenses for consolidation Rs. 5 cr
* As per the recent amendments to minimum bonus under the Payment of Bonus Act
32
Particulars
1-Apr-15
31-Dec-15
Net Worth
1,047
1,053
Debt
1,802
1,708
Capital Employed
2,849
2,761
709
667
1,775
1,775
340
274
26
46
2,849
2,761
Capital Employed
Share-holding Pattern
Financial Institutions /
Banks
4%
Bodies Corporate
4%
Others
11%
As on 5th Feb,2016
Promoter Group
59%
Mutual Fund
8%
Promoter Group
Name
IGH Holdings Private Ltd
TGS Investment And Trade Private Ltd
Aditya Birla Nuvo Ltd & its subsidiaries
Umang Commercial Company Ltd
Trapti Trading And Investments Pvt Ltd
Hindalco Industries Ltd
Others
Non-Promoter Shareholding> 1%
Holding %
11.1%
9.1%
9.1%
8.5%
6.4%
5.9%
9.5%
Name
India Opportunities Growth Fund Ltd Pinewood Strategy
Hsbc Global Investment Funds A/C Hsbc
Gif Mauritius Limited
Franklin Templeton Investment Funds
Life Insurance Corporation Of India
Holding %
1.6%
1.2%
1.0%
4.1%
34
Strong Fundamentals
Portfolio of
Strong
Brands
Capability to
exploit the
distribution
opportunity
3
Well
positioned
for
Omni
Channel
play
Large
white
spaces
available
Strong
experienced
Talent
Digital Transformation
35
Disclaimer
Certain statements made in this presentation may not be based on historical information or facts and may be forward looking statements including, but not limited to, those relating to general business plans & strategy of Aditya
Birla Fashion and Retail Limited (ABFRL"), its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not
remain constant due to risks and uncertainties. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in ABFRL's business, its competitive
environment, its ability to implement its strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in the countries in which ABFRL conducts business. Important factors
that could make a difference to ABFRLs operations include global and Indian demand supply conditions, finished goods prices, feed stock availability and prices, cyclical demand and pricing in ABFRLs principal markets, changes
in Government regulations, tax regimes, competitors actions, economic developments within India and the countries within which ABFRL conducts business and other factors such as litigation and labour negotiations.
This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase
any of ABFRL's shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or
on behalf of ABFRL.
ABFRL, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions
contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. ABFRL assumes no responsibility to publicly amend, modify or revise any forward
looking statements on the basis of any subsequent developments, information or events or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates.
The information contained herein is subject to change without notice and past performance is not indicative of future results. ABFRL may alter, modify or otherwise change in any manner the content of this presentation, without
obligation to notify any person of such revision or changes. This presentation may not be copied and disseminated in any manner.
INFORMATION PRESENTED HERE IS NOT AN OFFER FOR SALE OF ANY EQUITY SHARES OR ANY OTHER SECURITY OF ABFRL
This presentation is not for publication or distribution, directly or indirectly, in or into the United States, Canada or Japan. These materials are not an offer of securities for sale in or into the United States, Canada or Japan.
Aditya Birla Fashion and Retail Limited. Corporate Identity Number L18101MH2007PLC233901
Regd. & Corporate Office: 701-704, 7th Floor, Skyline Icon Business Park, 86-92, Off A.K. Road, Marol Village, Andheri (East), Mumbai-59
Website : www.abfrl.com Email: invrelations.abfrl@adityabirla.com
36