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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Aditya Birla Fashion and Retail
Aditya Birla Fashion and Retail (ABFRL) investor relations material
Aditya Birla Fashion and Retail Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary6 Nov, 2026
Executive summary
Q2 consolidated revenue was ₹2,030.03 crore, up 2% YoY; EBITDA fell 43% to ₹67 crore as shifted festive demand drove negative operating leverage.
Q2 net loss after tax was ₹376.41 crore; H1 revenue was ₹4,055.59 crore and net loss after tax ₹625.14 crore.
Management expects stronger H2 revenue, profitability and cash generation, supported by festive and wedding demand and working-capital release.
Financial highlights
Q2 EBIT loss was ₹303 crore, PBT loss ₹454.49 crore and PAT loss ₹376.41 crore, versus year-earlier losses of ₹209 crore, ₹333 crore and ₹295.09 crore, respectively.
H1 EBITDA was ₹233 crore, down 18%; EBIT loss was ₹486 crore and PBT loss ₹774.75 crore.
Q2 total income was ₹2,090 crore versus ₹2,036 crore; total expenses rose to ₹2,538 crore from ₹2,362 crore.
H1 net cash used in operating activities was ₹87.43 crore versus ₹100.74 crore used in the prior-year period.
Segment performance
Pantaloons Q2 revenue was ₹1,139.95 crore, flat YoY; format LTL was -7%, while non-East markets delivered +2% LTL growth.
Ethnic portfolio revenue was ₹517 crore, up 2%; excluding TCNS, it grew 12%. Q2 EBITDA loss was ₹17 crore.
TMRW revenue grew 10% to ₹244 crore, or 19% including WROGN; EBITDA loss narrowed to ₹41 crore from ₹62 crore, with profitability improving YoY for a fourth consecutive quarter.
Luxury revenue grew 11% in Q2 and 24% in H1; OWND! grew 58% YoY, while Jaypore reduced losses.
H1 revenue grew 5% at Pantaloons to ₹2,344.34 crore, 3% in ethnic to ₹970 crore, 11% at TMRW to ₹464 crore and 20% in Others to ₹316 crore.
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Latest events from Aditya Birla Fashion and Retail
- Revenue up 11% YoY to INR 2,026 crores, but losses widened amid investments and integration.ABFRL
Q1 26/27 - Q4 FY2026 delivered strong revenue and EBITDA growth, but net losses widened.ABFRLQ4 25/26
- Q3 FY26 revenue up 8% YoY, margin expansion, but net losses amid regulatory and restructuring costs.ABFRLQ3 25/26
- Q2 FY26 revenue rose 13% YoY, but net loss widened amid higher expenses and MFL demerger.ABFRLQ2 25/26
- Q2FY25 revenue up 13% YoY, with margin gains but deeper losses amid acquisitions and restructuring.ABFRLQ2 24/25
- Revenue up 7% YoY, margin gains, and new business growth despite weak demand and restructuring.ABFRLQ1 24/25
- Demerger enables two entities to target rapid, profitable growth and digital-led transformation.ABFRLInvestor Day 2025
- Demerger, margin gains, and capital raises drive profitable growth despite subdued demand.ABFRLQ4 24/25
- Q3 FY25 delivered revenue growth, margin expansion, narrowed losses, and strategic capital moves.ABFRLQ3 24/25
Next Aditya Birla Fashion and Retail earnings date
Q3 26/2714 Feb, 2027
Aditya Birla Fashion and Retail
Next Aditya Birla Fashion and Retail earnings date
Q3 26/2714 Feb, 2027
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Frequently asked questions
Aditya Birla Fashion and Retail Limited (ABFRL) is an Indian conglomerate in the fashion and retail sector, part of the larger Aditya Birla Group. It represents a significant presence in India's fashion landscape through its diverse portfolio, which includes renowned brands such as Louis Philippe, Van Heusen, Allen Solly, and Peter England. ABFRL also operates Pantaloons, one of India's prominent fashion retailers. The company has an extensive retail footprint with thousands of stores across the country, serving a wide range of consumer segments. Additionally, ABFRL has expanded into ethnic wear, featuring collaborations with high-profile designers and labels like Sabyasachi and Shantanu & Nikhil. It also has a substantial international brand portfolio managed through The Collective, offering exclusive fashion brands such as Ralph Lauren and Ted Baker. The company is headquartered in Mumbai, Maharashtra, and its shares are listed on the National Stock Exchange of India.