Aditya Birla Fashion’s Strong Bounce-Back In Q3; Debt Reduction In Focus: Anand Rathi 
People walk past a Pantaloons department store, at Ambience Mall in New Delhi, India. (Photographer Graham CrouchBloomberg)

Aditya Birla Fashion’s Strong Bounce-Back In Q3; Debt Reduction In Focus: Anand Rathi 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Anand Rathi Report

Backed by a higher gross margin and cost-controls, Aditya Birla Fashion and Retail Ltd.’s Q3 Ebitda margin expanded 193 basis points despite a ~20% drop in sales.

Cash of ~Rs 6 billion was generated in Q3 with a strong performance bounce back. The company is on course to end the year with Rs 2.5 billion debt, per management.

With debt being brought down and expansion plans accelerating, we believe the company is on track to resume its growth trajectory.

We raise our FY22e/FY23e revenue 3.5%/3.8%.

Click on the attachment to read the full report:

Anand Rathi Aditya Birla Fashion Q3FY21 Result Update.pdf

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