Aditya Birla Fashion and Retail Management Guidance Tracker

Management expects ethnic portfolio to sustain ~20% revenue growth and achieve post-India EBITDA margins above 20% in steady state.

Management expects TCNS to fully turn around by next fiscal year, with only Tasua remaining loss-making.

Management expects Pantaloons to achieve mid-to-high single-digit like-for-like growth over the next two years.

Tasva, currently loss-making, is expected to reach breakeven by the end of FY27.

Tomorrow portfolio is targeting EBITDA breakeven by FY29, with losses expected to reduce from H2 FY26.

Pantaloons segment has potential to improve EBITDA margins by 300-500 bps from current levels through network optimization and new identity rollout.

Management reiterated the full-year segment margin target of 15-17%, though near-term marketing investments may cause fluctuations.

Tomorrow is expected to break even on a pre-Ind AS basis by FY29.

Own brand plans to add over 30 stores in the second half of the fiscal year, expanding from 59 stores currently.

Tasva targets to end the fiscal year with more than 100 stores, up from 78 stores at Q2 end.

TCNS plans to add 50-60 stores in FY27, shifting from consolidation to expansion.

owned aims to open 40-50 stores in the coming year, with potential to scale beyond 50.