For the quarter ended 30 June 2012, ABNL has posted a year on year growth of 11 per cent in revenue at Rs.5,323 crore. EBITDA rose by 14 per cent to Rs. 915 crore and net profit is up by 5 per cent at Rs. 267 crore.
Fashion & Lifestyle:
Revenue of Madura Fashion & Lifestyle grew by 8 per cent to Rs.524 crore. Expansion of stores led to 18 per cent sales growth in the retail channel which stands expanded to 1,167 EBOs across 1.7 million square feet.
EBITDA at Rs.22 crore was flat year on year. Moderation in sales growth, during the seasonally subdued first quarter, led to lower absorption of rentals and other fixed costs.
ABNL, through its subsidiary Peter England Fashions & Retail Ltd., has invested Rs.800 crore through Optionally Fully Convertible Debentures in Pantaloon Retail India Ltd. (PRIL) during June 2012. The due diligence is in progress and the demerger scheme will be filed by ABNL and PRIL shortly.
The revenue is up year on year by 8 per cent at Rs.1,503 crore while EBITDA is lower by 8 per cent at Rs.190 crore. Textiles and Rayon businesses posted their highest ever quarterly earnings. Sales volume and profitability in the Carbon Black and Insulators businesses were affected year on year due to dumping from China. Maintenance shutdown in the Agri-business for 20 days, planned during the quarter, constrained urea sales volume and profitability.
Going forward, ABNL’s thrust is on capturing growth opportunities across its businesses to achieve the next higher level of growth.
Commenting on the results, Dr. Rakesh Jain, Managing Director said, “While industry growth has moderated in few of the sectors where ABNL operates, the Company continues to outperform in most of its businesses.”
Mr. Sushil Agarwal, Whole Time Director and CFO emphasized that, “Despite the planned maintenance shutdown in the agri-business and the impact of dumping from China in the Carbon Black and Insulators businesses, ABNL has achieved sound growth in the consolidated earnings.”
Aditya Birla Nuvo is a USD 4.5 billion conglomerate. Over the years, it has made successful ventures into the sunrise sectors viz., Financial Services (Life Insurance, Asset Management, NBFC, Private Equity, Broking, Wealth Management and general insurance advisory), Telecom, Fashion & Lifestyle and IT-ITeS.
Aditya Birla Nuvo Limited (ABNL)
| On 15th May 2021
The government of Australia has earmarked Au$1 million to promote and ...
The import of textiles and apparel by the United States increased by...
| On 15th May 2021
The British luxury fashion designer Amanda Wakeley’s company, AW...
Tech in fashion industry has hit acceleration button
International apparel brands
Launched first collection at onset of Covid
Opportunity now to reimagine processes & systems in a digital environment
With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...
The JD Institute of Fashion Technology is the educational division of JD...
Danitech was born from the will of a group of technicians to offer the...
Loomia designs and manufactures soft circuit systems that can be produced...
<div>RocketLife, an award-winning developer of breakthrough visual...
Dieffenbacher India Pvt Ltd
Germany-based Dieffenbacher Group is a producer of high-quality composites ...
The creations by Aprajita Toor were born out of a deep desire to create...
Abhishek Bajaj & Samiksha Bajaj
Samshek is a fashion forward tech brand which combines digital experience...
Ramya Rao & Kavea R Chavali
<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to email@example.com.