NSE: ABCAPITAL · BSE: 540691
ADITYA BIRLA CAPITAL LTD.
Operates as a diversified financial services holding company spanning lending, life and health insurance, asset management, broking and housing finance. FY26 consolidated revenue of Rs 45,508.98 cr was led by life insurance at Rs 23,974.11 cr and NBFC lending excluding housing finance at Rs 17,148.52 cr. Health insurance contributed Rs 6,437.04 cr, housing finance Rs 4,065.57 cr, asset management Rs 2,056.16 cr, and stock broking Rs 468.59 cr. The group runs these through subsidiaries including Aditya Birla Sun Life Insurance (51% stake), Aditya Birla Health Insurance (45.89% stake), and Aditya Birla Housing Finance, where Advent bought 14.3% for Rs 2,750 cr. Employee costs run at 4.7% of revenue and other operating expenses, including finance costs, make up 54.8%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Lending (Excluding Housing Finance), Housing Finance, Life Insurance, Asset Management, Stock and Securities Broking, Health Insurance, Other Financial Services. Diversified, asset-heavy financial services holding company spanning lending, life and health insurance, asset management and broking
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 22,230 | 27,416 | 34,506 | 40,590 | 45,509 |
| EBITDA (ex other income) | 5,536 | 7,444 | 12,034 | 14,233 | 16,640 |
| margin % | 24.9 | 27.2 | 34.9 | 35.1 | 36.6 |
| Owners' profit | 1,706 | 4,796 | 3,335 | 3,332 | 3,764 |
| EPS, as reported (₹) | 7.06 | 19.84 | 13.05 | 12.79 | 14.41 |
| ROE % · ROCE % | 9.7 · — | 22.1 · — | 12.0 · — | 10.5 · — | 10.5 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (5,070) | (24,053) | (24,101) | (27,935) | (36,544) |
| Capex | (180) | (246) | (402) | (458) | (394) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10,322 | 9,381 | 12,214 | 9,503 | 10,595 | 11,952 | 13,459 | 12,180 |
| Profit before tax | 1,328 | 967 | 1,167 | 1,071 | 1,134 | 1,232 | 1,383 | 1,495 |
| Net profit | 1,021 | 724 | 886 | 851 | 882 | 966 | 1,165 | 1,224 |
| EPS (₹) | 3.84 | 2.72 | 3.32 | 3.20 | 3.27 | 3.62 | 4.31 | 4.46 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Lending (Excluding Housing Finance) | 17,149 | 31.6 |
| Housing Finance | 4,066 | 7.5 |
| Life Insurance | 23,974 | 44.1 |
| Asset Management | 2,056 | 3.8 |
| Stock and Securities Broking | 469 | 0.9 |
| Health Insurance | 6,437 | 11.8 |
| Other Financial Services | 194 | 0.4 |
| Total, before eliminations | 54,344 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| JIO FIN SERVICES LTD | 1,35,496 | 63.7 | 1.01 | — | 1.2 | — | — | 70.7 |
| ADITYA BIRLA CAPITAL LTD. ◆ | 97,598 | 22.8 | 2.65 | — | 10.5 | — | 18.8 | 40.8 |
| L&T FINANCE LIMITED | 61,858 | 19.4 | 2.21 | — | 10.6 | — | 5.5 | 62.3 |
| TATA INVESTMENT CORP LTD | 28,442 | 66.0 | 0.97 | — | 1.5 | — | 19.5 | 92.6 |
| CHOLAMANDALAM FIN HOL LTD | 24,545 | 9.2 | 0.72 | — | 16.2 | — | 23.0 | 58.4 |
| TVS HOLDINGS LIMITED | 23,883 | 12.1 | 1.85 | — | 26.3 | — | 23.4 | 16.4 |
| MAHARASHTRA SCOOTERS LTD | 13,373 | 48.0 | 0.48 | — | 1.1 | — | — | 84.1 |
| JSW HOLDINGS LIMITED | 12,440 | 90.6 | 0.38 | — | 0.4 | — | 14.1 | 84.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.8 | 19.9 | 28 of 51 | 46% |
| P/B | 2.6 | 0.6 | 55 of 63 | 13% |
| ROE | 10.5 | 1.3 | 10 of 65 | 86% |
| EBITDA margin | 40.8 | 61.6 | 37 of 62 | 41% |
| Revenue growth | 28.2 | 13.6 | 21 of 56 | 64% |
| Profit growth | 43.9 | 10.7 | 24 of 66 | 65% |
| Market cap | 97598 | 273 | 2 of 68 | 99% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Aditya Birla Capital allots 24,884 shares under employee schemes | capital market events | low | — | — |
| 19 Oct 2026 · Aditya Birla Capital Q2 FY27 earnings call on 30 October 2026 | board shareholder meetings | low | — | — |
| 16 Oct 2026 · Allotment of 21,081 equity shares under ESOP Scheme 2022 | capital market events | low | — | — |
| 15 Oct 2026 · Aditya Birla Capital allots Rs 400 crore NCDs on private placement | fund raising | medium | — | — |
| 15 Oct 2026 · Aditya Birla Capital files Q2 FY27 dematerialisation certificate | compliance | minimal | — | — |
| 13 Oct 2026 · Board meeting on 30 Oct 2026 to approve Q2 FY27 results | results | low | — | — |
| 9 Oct 2026 · Aditya Birla Capital allots 95,836 equity shares under ESOP schemes | capital market events | low | — | — |
| 8 Oct 2026 · ICRA reaffirms AAA rating, bank lines enhanced by Rs 15,000 cr | credit debt | medium | — | — |
| 1 Oct 2026 · ESOP Allotment of 68,888 Equity Shares under Employee Stock Option Schemes | capital market events | low | — | — |
| 30 Sept 2026 · Reminder to shareholders to update KYC details for physical holdings | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.