Home / Knowledge / News / Apparel/Garments / Madura Fashion & Lifestyle revenues up in Q1 - ABNL

Madura Fashion & Lifestyle revenues up in Q1 - ABNL

08
Aug '12
Aditya Birla Nuvo Limited (ABNL) announces results for the first quarter ended 30 June 2012.

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.

Manufacturing:

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.

Management Comments

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)


Must ReadView All

Pic: Shutterstock

Textiles | On 15th Feb 2020

Morocco to revise FTA with Turkey

Turkey has agreed to review its free trade agreement with Morocco,...

Pic: Shutterstock

Textiles | On 15th Feb 2020

German, Italian investors interested in investing in Pak

German and Italian investors and manufacturers have evinced keen...

Pic: Nike

Apparel/Garments | On 15th Feb 2020

Nike employs distributors in Brazil, Argentina, Chile

Nike has entered into strategic distributor deals for its Nike Brand...

Interviews View All

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Mohammad Mamun Ar Rashid, UL VS Bangladesh Ltd

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Apurva Kothari,

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Madhu Sudhan Bhageria,

Madhu Sudhan Bhageria

Incorporated in August 1990, Filatex India Ltd manufactures manmade...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search