Any current/future new fundraising through debt or equity?

No explicit mention of any current or immediate future fundraising through debt or equity in the provided transcript. Ashish Dikshit mentioned that the business has steady cash generation to support expansion without requiring external capital. Debt levels showed a slight increase of about INR200 crores due to inventory buildup for the festive period but are expected to reduce by INR200-300 crores annually. The company expects to reach a debt-free status within two and a half to three years and is likely to use cash for growth acceleration and capex rather than raising new funds. Capex guidanc

Any current/future capex/capital investment/strategic investment?

Annual capex guidance remains around INR 250 crores. Capex primarily allocated to retail expansion, including opening new stores and store refurbishments. Some capex directed toward brand presence in department stores and shopping complexes. Manufacturing-related capex occurs infrequently, roughly once every 3-4 years for factory upgrades. Small investments also go towards warehouse infrastructure and technology enhancements. Significant part of network expansion is through franchising, which is capital-light for the company. Capex will support accelerating growth in existing businesses like I

Future growth expectations in sales/revenue/volumes?

Lifestyle Brands are expected to grow in early double digits with robust, sustained like-to-like growth (~9%-11%). Newer businesses like Innerwear, Reebok, and American Eagle are targeted to grow faster, between 18% to 20%. Reebok, after a transition phase, is showing rapid growth and aims for growth in excess of 20%. Smaller brands/businesses are likely to scale up their productivity, improving working capital efficiency over time. The company plans network expansion, including around 250 new stores annually across brands, driving volume growth. Marketing investments, especially in

Future growth expectations in earnings/operating earnings/profits/EPS?

Lifestyle Brands portfolio expected to grow at a stable double-digit rate over the next few years. Smaller/newer businesses like Innerwear, Reebok, and American Eagle anticipated to grow faster (18%-20% CAGR) and contribute meaningfully to overall growth. Reebok business showing rapid growth after transition challenges; aiming for 20%+ growth long-term. Innerwear losses reducing, expected to break even on a full-year basis by FY 2027. Marketing investments to continue for brand building, supporting revenue growth. Working capital cycle stable between 13%-15% of sales, ensuring steady

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Aditya Birla Lifestyle Brands LtdQ2 FY26

Aditya Birla Lifestyle Brands Ltd Q2 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹94.9P/E: 60.7Market Cap: ₹12.7K Cr

Management growth scorecard

Revenue

Category 3

Margin

N/A

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 3 growth signals are positive.

Full analysis

Revenue guidance

Category 3

→Lifestyle Brands are expected to grow in early double digits with robust, sustained like-to-like growth (~9%-11%).
→Newer businesses like Innerwear, Reebok, and American Eagle are targeted to grow faster, between 18% to 20%.
→Reebok, after a transition phase, is showing rapid growth and aims for growth in excess of 20%.
→Smaller brands/businesses are likely to scale up their productivity, improving working capital efficiency over time.
→The company plans network expansion, including around 250 new stores annually across brands, driving volume growth.
→Marketing investments, especially in brand visibility (e.g., IPL sponsorship), support growth by improving brand salience.
→E-commerce channel is expected to stabilize and return to positive growth after recent corrections.
→Overall, double-digit revenue growth is expected over the next few years, driven by retail expansion and stronger brand recognition.

Margin guidance

→Lifestyle Brands portfolio expected to grow at a stable double-digit rate over the next few years.
→Smaller/newer businesses like Innerwear, Reebok, and American Eagle anticipated to grow faster (18%-20% CAGR) and contribute meaningfully to overall growth.
→Reebok business showing rapid growth after transition challenges; aiming for 20%+ growth long-term.
→Innerwear losses reducing, expected to break even on a full-year basis by FY 2027.
→Marketing investments to continue for brand building, supporting revenue growth.
→Working capital cycle stable between 13%-15% of sales, ensuring steady cash flow.
→Capex maintained around INR 250 crores annually for retail expansion, store refurbishments, and technology, supporting future earnings growth.
→Debt expected to reduce by INR 200-300 crores annually, targeting debt-free status within 2.5 to 3 years, improving financial health and operating leverage.

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Fundraise plans

Yes

→No explicit mention of any current or immediate future fundraising through debt or equity in the provided transcript.
→Ashish Dikshit mentioned that the business has steady cash generation to support expansion without requiring external capital.
→Debt levels showed a slight increase of about INR200 crores due to inventory buildup for the festive period but are expected to reduce by INR200-300 crores annually.
→The company expects to reach a debt-free status within two and a half to three years and is likely to use cash for growth acceleration and capex rather than raising new funds.
→Capex guidance remains stable at around INR250 crores per year, primarily for retail expansion, refurbishment, and technology.
→Overall, the focus is on organic growth and internal accruals rather than raising new external funds.

Order book

The provided document (pages 1 to 19, Aditya Birla Lifestyle Brands Limited Q1 FY26 Earnings Call transcript) does not specifically mention current or expected order book or pending orders figures. The discussion primarily revolves around: - Channel performance (retail, e-commerce, wholesale) - Working capital and capex plans - Brand performance and growth outlook - Network expansion and store counts - Challenges in specific brands like Reebok and Innerwear - Ecommerce discount correction and impact on revenue No explicit information or quantification on current or expected orderbook or pending orders is disclosed or discussed in the transcript.

Capex plans

Yes

→Annual capex guidance remains around INR 250 crores.
→Capex primarily allocated to retail expansion, including opening new stores and store refurbishments.
→Some capex directed toward brand presence in department stores and shopping complexes.
→Manufacturing-related capex occurs infrequently, roughly once every 3-4 years for factory upgrades.
→Small investments also go towards warehouse infrastructure and technology enhancements.
→Significant part of network expansion is through franchising, which is capital-light for the company.
→Capex will support accelerating growth in existing businesses like Innerwear, Reebok, and Lifestyle Brands.
→With steady cash generation, the company can afford expansion capex without capital constraints.

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1Aditya Birla Lifestyle Brands Ltd

Rev 3

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