Aditya Birla Fashion targets break-even for most brands

TMRW & ETHNICS TO FUEL 11-12% CAGR OUTLOOK

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ADITYA BIRLA FASHION and Retail (ABFRL) reported a better-than-expected operational performance in 1QFY26, with revenue up 9% y-o-y (driven by Ethnics and TMRW) and EBITDA rising 25% y-o-y (about 22% beat).

The improvement was supported by a sharp 16-24pp margin expansion in Ethnics and Luxury Retail.

The company's digital-first brand house, TMRW, has raised about ₹440 crore from ServiceNow Ventures for an about 11% stake, valuing the business at about ₹4,000 crore.

The capital will be deployed to accelerate growth through increased brand investments and offline expansion for key brands.