Demonetisation affects shows up on bottomlines

Since demonetisation, textile and apparel manufacturers and retailers suffered a drop in business. Aditya Birla Fashion and Retail, which owns apparel brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England and Pantaloons, lost Rs 100 crores in sales across all its textile business verticals. It posted 4.8 per cent year on year growth in revenue and 8.8 per cent dip in EBIDTA. The company saw a strong start to the festive season till the first week of November 2016, after which the growth trajectory was largely impacted.