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Aditya Birla Nuvo reports strong earnings despite challenges
03 Nov '11
2 min read
Aditya Birla Nuvo announced its results for the quarter ended 30th September 2011.
Management Comments
Dr. Rakesh Jain, Managing Director, said, “Aditya Birla Nuvo has strengthened its leadership position in financial services, telecom and fashion and lifestyle businesses. It has posted strong earnings even amidst the challenges of prevailing macro-economic environment that affected few businesses. This only reflects the strength of its conglomerate model.”
Mr. Sushil Agarwal, Whole Time Director and CFO, said, “Aditya Birla Nuvo continues to generate strong cash flows, despite earnings pressure in some of the businesses. Standalone balance sheet and financial ratios continue to remain sound.”
Fashion & Lifestyle:
• Madura Fashion & Lifestyle achieved 24 per cent year-on-year growth in revenue at Rs.594 crore supported by 28 per cent volume growth.
• The retail channel attained an overall 39 per cent sales growth led by a 15 per cent like-to-like stores sales growth and retail space expansion.
• Madura continued to scale up its retail presence to strengthen its leadership position. It launched 90 Exclusive Brand Outlets (EBOs) during the quarter (160 in the half year) to reach 1,021 EBOs spanning across 1.5 million square feet.
• EBITDA grew by 28 per cent to Rs. 58 crore driven by sales growth across the channels and brands viz., Louis Philippe, Van Heusen, Allen Solly and Peter England.
Manufacturing:
• During the quarter, revenue grew by 25 per cent to Rs.1,469 crore. Revenue growth was driven by higher linen fabric volumes, higher agri-products trading and increased realisation in Carbon Black, Rayon, Textiles and Agri-business reflecting pass on of rise in production costs.
• EBITDA de-grew by 7 per cent to Rs.191 crore. Lower volumes and rise in production costs strained profitability in the Carbon Black and Insulators businesses. Textiles and Agri-business contributed to the earnings.
Aditya Birla Nuvo is a US$4 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 and Lifestyle and IT-ITeS. Its razor sharp focus on manufacturing businesses has made it a leading player in Agri-business, Carbon Black, Insulators, Rayon and Textiles sectors.
Aditya Birla Nuvo is part of the Aditya Birla Group, a US$35 billion Indian multinational. The group operates in 33 countries across the globe, is anchored by an extraordinary force of 133,000 employees belonging to 42 nationalities and derives more than 60 per cent of its revenue from its overseas operations.
Management Comments
Dr. Rakesh Jain, Managing Director, said, “Aditya Birla Nuvo has strengthened its leadership position in financial services, telecom and fashion and lifestyle businesses. It has posted strong earnings even amidst the challenges of prevailing macro-economic environment that affected few businesses. This only reflects the strength of its conglomerate model.”
Mr. Sushil Agarwal, Whole Time Director and CFO, said, “Aditya Birla Nuvo continues to generate strong cash flows, despite earnings pressure in some of the businesses. Standalone balance sheet and financial ratios continue to remain sound.”
Fashion & Lifestyle:
• Madura Fashion & Lifestyle achieved 24 per cent year-on-year growth in revenue at Rs.594 crore supported by 28 per cent volume growth.
• The retail channel attained an overall 39 per cent sales growth led by a 15 per cent like-to-like stores sales growth and retail space expansion.
• Madura continued to scale up its retail presence to strengthen its leadership position. It launched 90 Exclusive Brand Outlets (EBOs) during the quarter (160 in the half year) to reach 1,021 EBOs spanning across 1.5 million square feet.
• EBITDA grew by 28 per cent to Rs. 58 crore driven by sales growth across the channels and brands viz., Louis Philippe, Van Heusen, Allen Solly and Peter England.
Manufacturing:
• During the quarter, revenue grew by 25 per cent to Rs.1,469 crore. Revenue growth was driven by higher linen fabric volumes, higher agri-products trading and increased realisation in Carbon Black, Rayon, Textiles and Agri-business reflecting pass on of rise in production costs.
• EBITDA de-grew by 7 per cent to Rs.191 crore. Lower volumes and rise in production costs strained profitability in the Carbon Black and Insulators businesses. Textiles and Agri-business contributed to the earnings.
Aditya Birla Nuvo is a US$4 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 and Lifestyle and IT-ITeS. Its razor sharp focus on manufacturing businesses has made it a leading player in Agri-business, Carbon Black, Insulators, Rayon and Textiles sectors.
Aditya Birla Nuvo is part of the Aditya Birla Group, a US$35 billion Indian multinational. The group operates in 33 countries across the globe, is anchored by an extraordinary force of 133,000 employees belonging to 42 nationalities and derives more than 60 per cent of its revenue from its overseas operations.
Aditya Birla Nuvo
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