ABFRL Q4 FY26: Revenue rises 16% as margins improve, led by Pantaloons and Ethnic

Consolidated revenue was Rs 1,990 crore. Normalized EBITDA (before revaluation gain in associate) was Rs 229 crore; reported EBITDA was Rs 311 crore including an Rs 83 crore revaluation gain.

FY26 consolidated revenue was Rs 8,177 crore, up 11% YoY. Normalized EBITDA was Rs 903 crore, up 23% YoY. Reported PAT was negative Rs 830 crore.

Pantaloons segment contributed Rs 1,048 crore, Ethnic Businesses Rs 583 crore, TMRW Rs 211 crore, and Others Rs 157 crore in Q4 FY26 (before eliminations).

Ethnic Businesses EBITDA margin improved to 10.8% from 5.2%. Pantaloons margin was 16.2% versus 16.9% due to investments in OWND scale-up. TMRW margin remained negative at -23.8%.

The presentation states overall e-commerce sales grew over 20% YoY in FY26 and e-commerce revenue share is about 16%.

Net worth reduced to Rs 6,263 crore from Rs 6,813 crore. Net debt moved to Rs 149 crore from net cash of negative Rs 929 crore. Lease liabilities increased to Rs 4,495 crore from Rs 3,578 crore.