Devanshu Bansal · Emkay Global
directCash consumption in H1 and need for additional capital
No Devanshu, we started my March cash was roughly INR 2,072 crore in ABFRL standalone which is today INR 1,600 crore. So roughly INR 500 odd crore.
ABFRL / Q2-FY26 / claim-ledger
Audit the questions that mattered.
Aditya Birla Fashion and Retail · Analyst questions, management answers, and the quality of the response where the ledger is available.
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Questions audited
12
Answered directly
71%
Numeric claims
6
Consistency
mixed
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Devanshu Bansal · Emkay Global
directNeed for additional capital in ABFRL
First half is when most of the inventory buildup happens. Second half cash collection is dramatically higher. At this point of time there's no cause of concern on that account.
Devanshu Bansal · Emkay Global
partialLike-to-like growth for Pantaloons adjusting for festival preponement
Yes, there was a benefit with this being advanced. Unfortunately, the last seven or eight days that we saw a terrific amount of rain there and the disruption in Assam, a lot of that growth got wiped out.
Devanshu Bansal · Emkay Global
partialPantaloons margin drop despite good L2L and store closures
The margin impact has also been because of the significantly higher marketing investments versus last year. In terms of percentage, we have doubled our marketing investments.
Devanshu Bansal · Emkay Global
directTCNS overall growth and outlook
We reported revenue last year was INR 254 crore approximately. The comparable of that would have been lower by INR 40 crore. Against that, there is a double-digit growth in TCNS, around INR 240 crore this quarter.
Gaurav Jogani · JM Financial
directCapEx for H2 and store expansion plans
CapEx primarily will be in on around 30 stores and that's why around 30 stores. I don't think more than INR 100-220-25 crore will be spent on capex in these two businesses.
Gaurav Jogani · JM Financial
partialProfitability split of Ethnic business excluding TCNS losses
We have very marginal losses in TCNS now. Most of the losses are TASVA and some of the other smaller designer businesses. On an annual level, TCNS losses are significantly coming down. TASVA still has losses and rest of the business is profitable.
Archana Menon · Morgan Stanley
partialSustainability of Pantaloons L2L growth and store performance divergence
We feel pretty confident given the performance of the second half that we will continue to sustain our growth. On the stores, it's still early days, just been two, three months. We'd wait for another six odd months to kind of come to a conclusion.
Archana Menon · Morgan Stanley
directPantaloons full-year margin outlook with marketing spend
We indicated when we met investors in the month of April that this segment margin should be in a range of around 15-17%. We will aspire to go to, you know, we like to maintain that.
Tejash Shah · Avendus Spark Institutional Equities
evasiveBrand perception gap leading to Pantaloons revamp
It was not a question of lacking. It was a question of where we have been on the journey with Pantaloons. The insights that we got with the sharp definition of the consumer segment allowed us to identify white spaces in terms of positioning.
Tejash Shah · Avendus Spark Institutional Equities
partialStore economics with new Pantaloons identity
Pantaloons margins are closer to 50%, not 25%. We would like it to be north of 50% gross margin. The business is operating in negative working capital. Store profitability needs to be closer to 25%.
Kunal Shah · Jefferies
directTMRW losses increase and use of raised capital
The losses are a little higher than what we would have liked. We have been trying to push higher growth rate. The revenue to advertising spend has been slightly adverse. That is a journey that we'll go through.