ABFRL emerged after the consolidation of the branded apparel businesses of Aditya Birla Group comprising ABNL's Madura Fashion division and ABNL's subsidiaries — Pantaloons Fashion and Retail (PFRL) and Madura Fashion & Lifestyle (MFL) in May 2015. Post the consolidation, PFRL was renamed Aditya Birla Fashion and Retail Ltd.

Aditya Birla Fashion and Retail Ltd operates within the Men's & boys' clothing stores sector. In addition to historical fundamental analyses, the complete report available to purchase compares Aditya Birla Fashion and Retail Ltd with three other apparel stores in Asia: Haruyama Holdings Inc of Japan (2019 sales of 55.55 billion Japanese Yen [US$517.77 million] ), Workman Co., Ltd. of Japan (66.97 billion Japanese Yen [US$624.15 million] of which 100% was Men & Boys Clothing Stores), and United Arrows Ltd. which is also based in Japan (158.92 billion Japanese Yen [US$1.48 billion] of which 42% was Women's).

As a fashion conglomerate, ABFRL has a strong network of 2,714 brand stores across 750 cities in the country. It is present across 18000+ multi-brand outlets and 5000+ point of sales in department stores across India. It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years.

ABFRL's operating profitability is expected to improve gradually year on year, from 7% during fiscal 2018, supported by improving profitability at Pantaloons segment, stable margin in Madura lifestyle and reducing losses in Madura fast fashion and innerwear segment. Cost rationalisation initiatives at Pantaloons and expected recovery in same store growth will drive increase in operating profitability year on year in the medium term. Also, reduction in costs in fast fashion segment is expected to bring down the losses in medium term. Rapid scale of growth of innerwear segment will scale in other businesses.
 
ABFRL continue to benefit from the strong financial flexibility of Aditya Birla Group (ABG). However, ABFRL has an average financial risk profile, due to moderately high debt levels, leading to modest debt protection metrics.