Meeting Details

The 19th Annual General Meeting was held on Tuesday, August 25, 2026 through Video Conferencing/Other Audio-Visual Means. The meeting commenced at 3:30 PM IST and concluded at 4:52 PM IST.

Attendance

Mr. Kumar Mangalam Birla, Chairman of the Board, chaired the Meeting. All Directors were present except Mr. Nish Bhutani and Mr. Venkatesh Mysore, Independent Directors. Representatives of Statutory Auditors and Secretarial Auditors were present through VC.

Business Transacted

The following resolutions were considered at the meeting:

ORDINARY BUSINESS:

1. Adoption of Audited Standalone and Consolidated Financial Statements for financial year ended March 31, 2026 along with Reports of Board of Directors and Auditors

2. Appointment of Director in place of Mr. Aryaman Vikram Birla (DIN: 08456879), Non-Executive Director, who retires by rotation

3. Re-appointment of Price Waterhouse & Co Chartered Accountants LLP as Statutory Auditors

SPECIAL BUSINESS:

4. Re-designation and appointment of Ms. Sangeeta Tanwani (DIN: 03321646) as a Non-Executive Non-Independent Director

Financial Performance Highlights (FY 2025-26)

  • Revenue grew 11% year-on-year to ₹8,177 crore
  • E-commerce revenue grew over 20%, contributing approximately 16% of overall revenue
  • Retail network expanded by 180+ stores and nearly 0.6 million square feet of net retail space
  • Total retail presence: 1,273 stores across nearly 7.9 million square feet

Business Segment Performance

Ethnic Wear Segment:

  • Revenue grew 14% year-on-year to ₹2,227 crore
  • EBITDA margin expanded by 560 basis points to 10.8%
  • Network expanded to 680+ stores with 80+ new stores added
  • Includes brands: Sabyasachi, Shantnu & Nikhil, Tarun Tahiliani, House of Masaba, TASVA, Jaypore, TCNS

Pantaloons & OWND:

  • Pantaloons operates nearly 400 stores with significant network renovation
  • OWND expanded to 79 stores (added 34 stores during the year)

Luxury Retail:

  • Operates 50+ stores including The Collective and Mono Brands portfolio
  • Launched Galeries Lafayette in Mumbai

Digital-First Brands (TMRW):

  • Revenue grew 34% year-on-year
  • Expanded offline network to 120 stores across brands (added 60+ stores)

Economic and Industry Context

  • India's real GDP growth accelerated to 7.6% in FY26 from 7.1% in FY25
  • Private consumption expanded by 7.7% year-on-year
  • India's apparel retail market estimated to exceed ₹14 lakh crore by FY30

Sustainability Initiatives

  • Ranked No. 1 in India and No. 4 globally in Retail sector in S&P Global Corporate Sustainability Assessment (score: 84)
  • Launched Sustainability ReEarth 3.0 framework with five strategic pillars
  • CSR initiatives impacted over 1.32 lakh beneficiaries across education, healthcare, sanitation, and other areas

Voting and Results

  • Method of voting: Remote e-voting and e-voting (Insta Poll) at AGM
  • Voting remained available for 15 minutes post closure for shareholders who hadn't voted remotely
  • Results to be declared and disseminated on company website, RTA website, and stock exchanges

Additional Information

  • Documents available for inspection through 'Inspect Documents' Tab on 'InstaMeet' portal of MUFG Intime India Private Limited (RTA)
  • No qualifications, comments or observations in Statutory and Secretarial Auditor's reports
  • Full proceedings and Chairman's speech available on company website www.abfrl.com