Aditya Birla Capital Q4 Results Review - NIM Expansion, Asset Quality Improvement For NBFC, HFC: Motilal Oswal

Motilal Oswal Report

Consolidated revenue of Aditya Birla Capital Ltd. grew 31% YoY to Rs 91.5 billion in Q4 FY23. Consolidated profit after tax (post minority) rose 35% YoY to ~Rs 6.1 billion.

The board has approved to raise capital of up to ~Rs 30 billion in FY24, subject to requisite approvals.

It intends to raise capital with the primary objective of supporting growth in the lending and insurance businesses. A large part of this raise will be deployed in the non banking financial company business.

Aditya Birla Capital had ~38 million customers as of March 2023. It added ~250 branches in FY23, with a total branch count of 1,295.

The management has exhibited agility in its journey toward FY24 targets, a majority of which have already been achieved. We estimate further improvement in operating metrics in FY24.

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