Aditya Birla Fashion Q4 Review - Better Placed Owing To Strengthened Balance Sheet: ICICI Direct
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ICICI Direct Report
Aditya Birla Fashion and Retail Ltd. witnessed a healthy recovery in the most of Q4 FY21 on the back of pent-up demand.
However a resurgence of the second wave of Covid-19 in the later part of March 2021 negatively impacted customer footfalls and decelerated the pace of growth.
Revenue for Q4 FY21 (standalone) de-grew marginally by 1.9% YoY to Rs 1783.6 crore.
Adjusting for the base effect, recovery rate was at ~85% in Q4 FY21.
Better product mix and tighter markdown management led gross margins to improve ~200 basis points YoY to 53.3%.
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