Aditya Birla Lifestyle Brands Limited (ABLBL) share price

₹83.61 on NSE as of 2026-09-11. -0.46% on the day. market cap ₹10,205 Cr. P/E 57.7. 52-week range ₹82.78 to ₹149.15. Consumer Services.

What the company does

ABLBL is the apparel retail venture of the Aditya Birla group, and was recently demerged from ABFRL. The Madura division holds leading brands while the departmental stores are under Pantaloons. ABFRL acquired Forever 21 in India in 2016 to ramp up its fast fashion segment and acquired franchisee rights of Reebok for the Indian market and other ASEAN countries in fiscal 2023, thereby expanding to the athleisure segment. On April 19, 2024, ABFRL announced that the Board of Directors had approved the vertical demerger of Madura Fashion and Lifestyle business into a separate listed company, ABLBL, subject to the necessary statutory and regulatory approvals with effective date and appointed date as May 1, 2025, and April 1, 2024, respectively. Hence, the Madura business division hosting lifestyle brands such as Van Heusen, Louis Philippe, Peter England and Allen Solly, and other lifestyle brands such as American Eagle, Forever 21, Reebok, and Van Heusen innerwear, are now officially hosted under ABLBL. About the Group The Aditya Birla group, is a $66 billion (as of March 31, 2024) global conglomerate, with presence across diversified segments including cement (Ultratech Cement Ltd ['Crisil AAA/Stable/Crisil A1+']), metals (Hindalco Industries Ltd ['Crisil A1+']), fashion and retail (ABFRL), financial services (Aditya Birla Capital Ltd ['Crisil AAA/Stable/Crisil A1+']), chemicals (Gr

Filed by CRISIL, page 4.

Aditya Birla Lifestyle Brands Q1 FY27: Revenue ₹2,046 Cr, PAT ₹29 Cr, and a ₹1,220 Cr Equity Line That Appeared Out of Nowhere

At a glance

Somewhere in India this quarter, roughly 3,362 stores sold enough shirts, trousers and track pants to book ₹2,045.74 crore of revenue. Eleven percent more than the same three months a year ago. Operating profit came in at ₹308 crore. Profit after tax, after the accountants had taken their turn, was ₹29 crore.

That is the entire quarter in three numbers, and the gap between the first and the third is where the story lives. ₹2,046 crore goes in the top. ₹29 crore comes out the bottom. In between sit depreciation of ₹204 crore, interest of ₹83 crore, and rent of ₹193 crore — the arithmetic of running five million square feet of retail space in a country that keeps building malls.

Management called it the third consecutive quarter of double-digit growth and put EBITDA margin at 16.0%, up about 50 basis points. Retail like-to-like grew 8%, which management noted was the seventh straight quarter of that. E-commerce grew 23%. The Emerging Business portfolio — Reebok, Van Heusen innerwear, American Eagle — grew 19% and lifted its EBITDA margin by 240 basis points to 4.3%, which is still 4.3%.

The balance sheet, meanwhile, did something genuinely strange: equity capital went from ₹0.05 crore to ₹1,220.52 crore in one year, while reserves fell from ₹1,276 crore to ₹192 crore. Nothing was stolen. Something was demerged. More on that shortly.

Introduction

This company is one year old and twenty-five years old at the same time.

Incorporated in 2025 on paper, Aditya Birla Lifestyle Brands Ltd is the new home of the Madura Fashion & Lifestyle business that Aditya Birla Fashion & Retail Ltd approved for vertical demerger in FY24. The scheme transferred the MF&L business out of ABFRL and into ABLBL, and the resulting entity listed on BSE and NSE on June 23, 2025. Per CRISIL's rating rationale, the demerger carried an effective date of May 1, 2025 and an appointed date of April 1, 2024, and the Aditya Birla group held 46.60% of the equity as on December 31, 2025 following a 1:1 share allotment.

What moved across was not a startup. Louis Philippe, Van Heusen, Allen Solly and Peter England each carry a legacy of over 25 years, per the company's press release. CRISIL notes Madura's revenue grew from ₹1,221 crore in fiscal 2010 to ₹7,850 crore in fiscal 2025 — so the trading history exists, it simply now sits under a different CIN.

The corporate calendar since listing has been busy in the way newly-listed entities usually are. The board approved a private placement of NCDs up to ₹500 crore in February 2026, allotted ₹500 crore of NCDs at 7.22% in March 2026 maturing March 2029, and CRISIL assigned Crisil AA+/Stable to those NCDs on March 5, 2026 while reaffirming Crisil A1+ on the ₹1,000 crore commercial paper programme. The company secretary's chair has seen three occupants — Rajeev Agrawal resigned effective November 30, 2025, Sonia Bhandari was appointed interim from February 16, 2026 and ceased April 19, 2026, and Rameez Shaikh took over from April 20, 2026.

On August 1, 2026, a Saturday board meeting running 4:00 p.m. to 5:30 p.m. approved the Q1 FY27 results and, separately, an ESOP and Performance Stock Options Scheme 2026 covering up to 1,83,07,800 shares, subject to postal ballot approval.

Business model

They sell you a shirt. Then they sell your cousin a slightly different shirt at a different price point, and both of you think you made a considered decision.

The portfolio is organised by wallet. Per CRISIL, Louis Philippe sits in super-premium, Van Heusen and Allen Solly in premium, Peter England in sub-premium, and American Eagle and Forever 21 in youth-western. Simon Carter is in premium menswear. Reebok, franchisee rights for India and other ASEAN countries acquired in fiscal 2023, handles athleisure. Van Heusen also runs innerwear. CRISIL's phrasing is that positioning across the price spectrum helps the business withstand a slowdown in any one customer segment — which is a formal way of saying that if you can't afford Louis Philippe this year, they would still like your money.

The physical footprint is the part that makes the depreciation line make sense. As of June 30, 2026: 3,362 exclusive brand outlets, ~5 million sq. ft., 39,500+ multi-brand outlets, 6,500+ shop-in-shops, presence across 800+ cities and towns and 190+ malls. Sixty to sixty-five percent of stores are franchise-operated, per CRISIL, which is what lets a company add stores faster than it adds capital expenditure.

The channel split for Q1 FY27, as disclosed: Retail ₹1,289 crore, Wholesale ₹384 crore, E-commerce ₹286 crore, Others ₹86 crore. Retail is roughly two-thirds of everything. Segment-wise, Lifestyle Brands did ₹1,725 crore at 18.5% EBITDA margin; Emerging Business did ₹332 crore at 4.3%.

Those two margins in the same P&L are the business model in miniature. One portfolio has spent twenty-five years teaching Indian men that a Van Heusen shirt means something. The other is a sportswear brand with 200-odd stores that management describes as "hugely underpenetrated," noting other premium brands run 500 to 700 stores. Management also stated apparel has risen from ~26–27% of the Reebok business at acquisition to ~32–33%.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Aditya Birla Lifestyle Brands Limited.

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