Aditya Birla Lifestyle Brands (ABLBL) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 revenue rose 4% YoY to ₹2,037.90 crore, EBITDA increased 12% to ₹338 crore and PAT was ₹23.44 crore.

• Retail LTL growth reached 12% for a fifth consecutive quarter of positive growth; more than 75 stores were added in Q2.

• Early festive demand supported trading, while GST transition, localized disruption and cautious consumer sentiment moderated momentum.

Financial highlights

• Q2 revenue was ₹2,037.90 crore; PBT before exceptional items was ₹31.07 crore and PAT was ₹23.44 crore, versus a prior-year PAT loss of ₹59 crore.

• H1 revenue reached ₹3,878.48 crore, EBITDA was ₹624 crore and PAT was ₹47.50 crore.

• Q2 total income was ₹2,059.02 crore and total expenses were ₹2,027.95 crore; H1 total income was ₹3,922.13 crore and expenses were ₹3,862.89 crore.

Outlook and guidance

• Management expects double-digit brand growth over the medium term, with secondary sales expected to convert into primary sales in coming quarters.

• Forever 21 base impact should diminish through Q3 and become insignificant by Q4; emerging-business profitability is expected to improve as scale and leverage build.

• A robust H2 store pipeline is planned, with expansion shifting toward larger formats; e-commerce is stabilizing and positioned for profitable acceleration.

• Seasonal working-capital pressure is expected to normalize, with debt expected to decline by FY26-end.

• Wedding-season demand and consumer response to revised GST-related pricing remain key near-term indicators; Diwali was described as decent, with consumption not yet visibly stronger.