Below is a structured extraction and summary of the relevant and actionable financial information from the Aditya Birla Lifestyle Brands Limited results filing dated November 4, 2025.
1. Auditor’s Note
- No qualifications or concerns noted.
- The auditor (Price Waterhouse & Co Chartered Accountants LLP) issued a clean limited review report on both standalone and consolidated unaudited financial results for Q2 FY26 and six months ended September 30, 2025.
- Comparative figures for Q2 FY25 and H1 FY25 were not reviewed/audited as the company got listed only in Q1 FY26; these figures were prepared by management.
- No material misstatements or disclosure issues identified.
2. Financial Performance
Periods Covered:
- Latest quarter: Q2 FY26 (July 1, 2025 - September 30, 2025)
- Immediately preceding quarter: Q1 FY26 (April 1, 2025 - June 30, 2025)
- Same quarter previous year: Q2 FY25 (July 1, 2024 - September 30, 2024)
- Full financial year: FY25 (April 1, 2024 - March 31, 2025)
- Also six months ended September 30, 2025 and 2024 for YTD comparison
2.1 Consolidated Financials (₹ Crore)
| Particulars | Q2 FY26 (Sep 30, 2025) | Q1 FY26 (Jun 30, 2025) | Q2 FY25 (Sep 30, 2024) | H1 FY26 (Apr-Sep 2025) | H1 FY25 (Apr-Sep 2024) | FY25 (Apr 24-Mar 25) |
|---|---|---|---|---|---|---|
| Revenue from operations | 2,037.90 | 1,840.58 | 1,964.93 | 3,878.48 | 3,749.40 | 7,829.96 |
| Other income | 21.12 | 22.53 | 20.36 | 43.65 | 34.45 | 77.71 |
| Total income | 2,059.02 | 1,863.11 | 1,985.29 | 3,922.13 | 3,783.85 | 7,907.67 |
| Total expenses | 2,027.95 | 1,834.94 | 1,967.53 | 3,862.89 | 3,737.27 | 7,725.93 |
| Profit before exceptional items & tax | 31.07 | 28.17 | 17.76 | 59.24 | 46.58 | 181.74 |
| Exceptional items | - | - | (98.33) | - | (98.33) | (98.33) |
| Profit before tax | 31.07 | 28.17 | (80.57) | 59.24 | (51.75) | 83.41 |
| Income tax expense (current + deferred) | 7.63 | 4.11 | (21.80) | 11.74 | (12.67) | 23.81 |
| Net profit after tax | 23.44 | 24.06 | (58.77) | 47.50 | (39.08) | 59.60 |
| Other comprehensive income | (0.02) | (2.78) | (1.00) | (2.80) | (1.22) | (3.29) |
| Total comprehensive income | 23.42 | 21.28 | (59.77) | 44.70 | (40.30) | 56.31 |
| EPS (Basic & Diluted, ₹) | 0.19 | 0.20 | (0.58) | 0.39 | (0.38) | 0.49 |
2.2 Standalone Financials (₹ Crore)
| Particulars | Q2 FY26 (Sep 30, 2025) | Q1 FY26 (Jun 30, 2025) | Q2 FY25 (Sep 30, 2024) | H1 FY26 (Apr-Sep 2025) | H1 FY25 (Apr-Sep 2024) | FY25 (Apr 24-Mar 25) |
|---|---|---|---|---|---|---|
| Revenue from operations | 2,037.19 | 1,840.47 | 1,962.01 | 3,877.66 | 3,757.70 | 7,829.73 |
| Other income | 20.97 | 22.46 | 20.29 | 43.43 | 34.32 | 77.27 |
| Total income | 2,058.16 | 1,862.93 | 1,982.30 | 3,921.09 | 3,792.02 | 7,907.00 |
| Total expenses | 2,027.91 | 1,834.34 | 1,961.71 | 3,862.25 | 3,740.59 | 7,717.48 |
| Profit before exceptional items & tax | 30.25 | 28.59 | 20.59 | 58.84 | 51.43 | 189.52 |
| Exceptional items | - | - | (98.33) | - | (98.33) | (98.33) |
| Profit before tax | 30.25 | 28.59 | (77.74) | 58.84 | (46.90) | 91.19 |
| Income tax expense (current + deferred) | 7.63 | 7.19 | (21.31) | 14.82 | (11.83) | 22.19 |
| Net profit after tax | 22.62 | 21.40 | (56.43) | 44.02 | (35.07) | 69.00 |
| Other comprehensive income | (0.01) | (2.75) | (1.00) | (2.76) | (1.22) | (3.22) |
| Total comprehensive income | 22.61 | 18.65 | (57.43) | 41.26 | (36.29) | 65.78 |
| EPS (Basic & Diluted, ₹) | 0.19 | 0.18 | (0.56) | 0.36 | (0.35) | 0.57 |
Margins and Ratios (Standalone)
| Metric | Q2 FY26 | Q1 FY26 | Q2 FY25 | H1 FY26 | H1 FY25 | FY25 |
|---|---|---|---|---|---|---|
| Operating margin (%) | 6.19% | 6.05% | 1.53% | 6.12% | 3.92% | 5.98% |
| Net profit margin (%) | 1.11% | 1.16% | -2.88% | 1.14% | -0.93% | 0.88% |
| Debt service coverage ratio | 1.87x | 1.87x | (0.83)x | 1.87x | 0.36x | 1.52x |
| Interest service coverage ratio | 1.89x | 1.89x | (0.89)x | 1.89x | 0.39x | 1.67x |
| Debt equity ratio | 0.51x | 0.50x | 0.67x | 0.51x | 0.67x | 0.39x |
| Current ratio | 1.08x | 1.08x | 1.07x | 1.08x | 1.07x | 1.08x |
3. Detailed Notes / Management Commentary
-
Scheme of Arrangement:
- Demerger of Madura Fashion and Lifestyle (MFL) business from Aditya Birla Fashion and Retail to Aditya Birla Lifestyle Brands Limited (ABLBL) effective May 1, 2025.
- Shareholders of the demerged company received shares in ABLBL on a 1:1 basis.
- ABLBL listed on BSE and NSE on June 23, 2025.
- Comparative figures for FY25 and Q2 FY25 are management-prepared and unaudited due to listing timing.
-
Business Segment:
- Single operating segment: branded apparels (garments and accessories).
-
Accounting Policies:
- Financials prepared as per Ind AS 34 (Interim Financial Reporting).
- No changes in accounting policies or material adjustments reported.
-
Other:
- No mention of NPAs, slippages, or AUM as this is a branded apparel company, not a financial services firm.
4. Segment Information
- The company operates in a single segment: branded apparels (garments and accessories).
- No further segment or geographic breakdown provided.
5. Capex, Projects, and Corporate Activity
-
Capital Expenditure:
- Standalone Capex for H1 FY26: ₹110.70 crore (consolidated ₹124.75 crore).
- Capex mainly on property, plant, equipment, and intangible assets.
-
Corporate Activity:
- Major corporate event: Demerger of Madura Fashion and Lifestyle business effective May 1, 2025.
- Share allotment and listing completed in June 2025.
-
Impairments / Provisions:
- Exceptional item in Q2 FY25 and H1 FY25: ₹98.33 crore loss related to prior period (likely pre-demerger).
- No exceptional items in current periods.
-
Restructuring / Cost Cutting:
- No explicit mention of restructuring or cost-cutting measures.
6. Standalone vs Consolidated
- Both Standalone and Consolidated financial results are provided and reviewed.
- Consolidated includes one wholly owned subsidiary: Aditya Birla Garments Limited.
- Financial figures for standalone and consolidated are broadly aligned with minor differences in expenses and equity.
7. Balance Sheet Highlights (Consolidated as of Sep 30, 2025 vs Mar 31, 2025)
| Particulars | Sep 30, 2025 (₹ Cr) | Mar 31, 2025 (₹ Cr) | Change (%) |
|---|---|---|---|
| Total Assets | 9,187.45 | 8,279.03 | +10.9% |
| Non-current assets | 4,138.34 | 3,873.78 | +6.9% |
| Current assets | 5,049.11 | 4,405.25 | +14.6% |
| Total Equity | 1,310.31 | 1,276.53 | +2.6% |
| Total Liabilities | 7,877.14 | 7,002.50 | +12.5% |
| Borrowings (Non-current + Current) | 1,275.31 | 952.19 | +33.9% |
| Lease liabilities (Non-current + Current) | 2,220.72 | 1,980.26 | +12.2% |
| Trade payables | 2,392.18 | 2,121.32 | +12.7% |
8. Cash Flow Summary (Standalone and Consolidated for H1 FY26)
| Particulars | Standalone (₹ Cr) | Consolidated (₹ Cr) |
|---|---|---|
| Net cash from operating activities | 280.41 | 283.48 |
| Net cash used in investing activities | (119.20) | (123.21) |
| Net cash used in financing activities | (61.50) | (60.04) |
| Net increase in cash & cash equivalents | 99.71 | 100.23 |
| Cash & cash equivalents at end | 152.70 | 153.29 |
Summary for Investment Analysis Team
| Aspect | Key Points |
|---|---|
| Auditor’s Note | Clean limited review report; no qualifications or concerns. |
| Financial Performance | Revenue growth QoQ and YoY; Q2 FY26 revenue ₹2,038 Cr (consolidated), up from ₹1,965 Cr in Q2 FY25. |
| Profit after tax positive in Q2 FY26 ₹23.44 Cr vs loss of ₹58.77 Cr in Q2 FY25 (exceptional items in prior year). | |
| Operating margin improved to ~6.2% in Q2 FY26 from 1.5% in Q2 FY25. | |
| EPS positive at ₹0.19 in Q2 FY26 vs negative ₹0.58 in Q2 FY25. | |
| Management Commentary | Demerger of Madura Fashion and Lifestyle business effective May 1, 2025; listing completed June 2025. |
| No changes in accounting policies or material adjustments. | |
| Segment Info | Single segment: branded apparels. |
| Capex & Corporate Activity | Capex of ~₹110-125 Cr in H1 FY26; no new projects or restructuring announced. |
| Exceptional loss of ₹98.33 Cr in prior year related to pre-demerger period. | |
| Balance Sheet | Total assets increased ~11% since March 2025; borrowings increased ~34%. |
| Debt equity ratio moderate at ~0.51x. | |
| Cash Flows | Strong operating cash flow (~₹280 Cr); positive net cash increase of ~₹100 Cr in H1 FY26. |
| Standalone vs Consolidated | Results broadly consistent; consolidated includes one wholly owned subsidiary. |
This information provides a clear view of the company’s recent financial health, operational performance, and corporate developments post-demerger, suitable for investment decision-making and further analysis.