ADITYA BIRLA FASHION AND RETAIL (ABFRL) posted strong Q4 & FY26 results. **Business Performance:** Q4 revenue surged 16% YoY to ₹1990 Cr, with normalized EBITDA up 29% to ₹229 Cr.

For FY26, revenue hit ₹8177 Cr (+11% YoY), and normalized EBITDA grew 23% to ₹903 Cr.

Pantaloons led the charge with 19% Q4 growth & 14% like-for-like sales.

Ethnic businesses grew 14% for FY26, and TMRW's digital brands exploded 45% in Q4. Q4 PAT was -₹164 Cr, and FY26 PAT was -₹830 Cr. **Growth Drivers/Strategy:** ABFRL is on an aggressive expansion drive, adding 70 new stores in Q4 & over 180 for FY26, especially for value retail & ethnic brands.

Key strategies include enhancing Pantaloons' consumer experience and scaling TMRW's D2C omni-channel platform. **Recent Developments:** Galeries Lafayette shows strong early traction in luxury retail.

TMRW notably slashed cash losses by over 50% in Q4. E-commerce sales across the board jumped over 30% in Q4. **Outlook:** Consumption trends remain stable, with value retail and omni-channel initiatives being key focus areas for continued profitable growth.

The company aims for further e-commerce expansion.