Aditya Birla Capital Q4 Results Review: Motilal Oswal Retains 'Buy' On The Stock, Sees 22% Upside - Here's Why

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Motilal Oswal Report

Aditya Birla Capital Ltd. continued to exhibit an improvement in operational metrics in Q4 FY25. Loan growth remained healthy across both the housing finance company and non-banking finance company segments, accompanied by a further improvement in asset quality.

While net interest margins in the NBFC business witnessed some contraction during the quarter, management has guided for NIM improvement in the subsequent quarters, supported by a favorable shift in its product mix.

We expect a consolidated PAT CAGR of ~24% over FY25-27E. The thrust on cross-selling, investments in digital, and leveraging ‘One ABC’ will lead to healthy return ratios, even as we build in a consolidated RoE of ~14% by FY27.

Reiterate Buy with an SoTP (Mar’27E)-based target price of Rs 250.

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