ADITYA BIRLA LIFES BRAN L

Sells branded apparel and fashion through exclusive brand stores and e-commerce in India. The business splits into a Lifestyle Brands segment anchored by Van Heusen, Louis Philippe, Allen Solly and Peter England, which generated ₹7,154 crore of FY26 revenue at a 20% EBITDA margin, and an Emerging Business segment covering Reebok, Van Heusen Innerwear and American Eagle, which grew 18% YoY at an ~4% EBITDA margin. Reebok alone posted 30% Q4 FY26 growth from 210+ stores, with management targeting 40-50 new Reebok stores per year for several years. The retail network reached 3,348 exclusive brand outlets across ~800 cities and 4.9 million sq ft in FY26 after 300+ net additions, while e-commerce sales crossed ₹1,000 crore. Costs are dominated by other operating expenses at 32.3% of revenue, followed by materials at 12.8%, employees at 11.2% and depreciation at 9.5%; management flagged crude oil and polyester inflation as a near-term margin headwind. FY27 capex is guided at ₹250-300 crore with ~300 net new stores planned, and the company targets becoming debt-free within ~3 years.