ADITYA BIRLA MONEY LTD

Operates a stockbroking and wholesale debt market business under the Capital Markets classification. In FY26, total revenue from operations was Rs 468.591 crore, with Broking accounting for Rs 355.3242 crore (75.8% of segment revenue) and Wholesale Debt Market for Rs 110.3861 crore (23.6%); an 'Others' line made up the remaining Rs 2.8807 crore (0.6%). The Broking segment covers trading in equities and derivatives for retail and institutional clients and generated an EBIT of Rs 24.802 crore. The Wholesale Debt Market segment deals in debt securities and posted an EBIT of Rs 49.6734 crore on a smaller revenue base, making it the most profitable segment in the pack. The business is highly geared, with a debt-equity ratio of 7.36 times reported in Q1 FY27, and finance costs of Rs 43.67 crore in that single quarter, making interest on borrowed funds the dominant cost. Employee costs ran at 23.1% of revenue in FY26 and capex was 1.6%. Crisil reaffirmed an A1+ short-term rating on the commercial paper programme, with the rated issue size enhanced from Rs 2,350 crore to Rs 2,500 crore. Q1 FY27 results showed total revenue from operations of Rs 130.77 crore (interest income Rs 70.75 crore) and PAT of Rs 11.13 crore, with Broking segment revenue up 21% YoY but segment profit falling sharply. The board approved a 10x increase in authorised share capital to Rs 333 crore to provide room for future fund-raising.