Aditya Birla Capital
Aditya Birla Capital
Financial Services F&OKey Fundamentals
MidcapInvestment CompanyFinancial ServicesPrice-based figures as of 9 Oct 2026, 3:56 pm IST · EPS basis: Consolidated · TTM
Tapetide Score
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Key Insights
Strengths
1- Company's median sales growth is 17.5% of last 10 years
Weaknesses
4- Stock is trading at 2.87 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 12.5% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
As of the 2026-10-01 close, Aditya Birla Capital traded at ₹375.05, giving it a market capitalisation of about ₹1,02,678 crore, a trailing P/E of 24.94 and a P/B of 2.67. TTM sales grew 16% and TTM profit grew 18%, but 3-year compounded profit growth is -7%, and the latest ROE of 10.51% and ROCE of 8.47% are below the company's 5-year average ROE of 15%. The stock is about 13% below its 52-week high of ₹430.7 and about 30% above its 52-week low of ₹287.7. It pays no dividend.
- Revenue growth has been steady over a long period. Sales compounded at 29% over 10 years and 19% over 5 years, and the median sales growth over the last 10 years is 17.5%.
- Recent growth is still solid. TTM sales grew 16% and TTM profit grew 18%, both ahead of the 3-year sales CAGR of 15%.
- Long-term profit growth is strong. Profit compounded at 28% over 5 years and 22% over 10 years, which shows the business has scaled over full cycles.
- Shareholders have seen sustained gains. The stock returned a 28% CAGR over 5 years, 29% over 3 years and 23% over the last year.
- Returns have been higher in the past. ROE averaged 15% over 5 years and 13% over 10 years, compared with 10.51% now, so there is a historical precedent for better returns if profitability improves.
- The company has scale. A market cap of about ₹1,02,678 crore and TTM EPS of ₹15.04 put it among the larger diversified financial services groups in India, spanning lending, asset management and insurance.
- The current price leaves some distance from the recent high. At ₹375.05, the stock is about 12.9% below its 52-week high of ₹430.7.
- Medium-term profit growth has been negative. Profit compounded at -7% over 3 years, while sales compounded at 15%. Profits have not kept up with revenue over this period.
- Return ratios are modest. ROE is 10.51% and ROCE is 8.47%, against a 3-year average ROE of about 12% and a 5-year average of 15%, so profitability has declined.
- Valuation looks high relative to returns. A P/E of 24.94 and P/B of 2.67 compare with an ROE of 10.51%, which implies an earnings yield of only about 4%.
- There is no dividend. The dividend yield is 0% even though the company reports repeated profits, so shareholder returns depend entirely on price gains.
- Interest coverage is reported as low. For a lending-heavy financial business, this means profits are sensitive to borrowing costs and credit losses. A debt-to-equity figure is not available to measure leverage directly.
- The stock has already moved a lot. It is about 30.4% above its 52-week low of ₹287.7, and its 1-year return of 23% is ahead of TTM profit growth of 18%.
- The 52-week range is wide, from ₹287.7 to ₹430.7, a spread of roughly 50% from low to high. This points to meaningful price volatility.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- ₹500 crore secured NCDs allotted Sep 28
Allotted 50,000 secured NCDs with a face value of ₹1 lakh each, raising ₹500 crore by private placement. They carry a stated 1,824-day tenor and a stated maturity of Sep 7, 2029, and are secured by a first pari passu charge on receivables; these two terms don't match each other as reported.
- ₹192 crore subordinated NCDs issued Sep 23
Allotted 19,200 subordinated NCDs worth ₹192 crore by private placement at an 8.0668% coupon, maturing in 2036. Long-tenor subordinated debt like this typically supports Tier II capital.
- J.P. Morgan conference investor meet Sep 17
The company will host an in-person institutional investor meeting in Mumbai on Sep 22, 2026, as part of the J.P. Morgan India Conference.
- Jefferies India Forum participation Sep 10
The company will host an in-person analyst and institutional investor meeting in Gurugram on Sep 16, 2026, as part of the Jefferies India Forum.
TL;DR: Recent news for Aditya Birla Capital is routine. It raised ₹692 crore in total through secured and subordinated NCDs, and the 8.07% coupon on 10-year subordinated paper points to steady access to funding. No clear positives or negatives emerged, and the investor meetings at the J.P. Morgan and Jefferies conferences are standard outreach rather than catalysts. The trend looks stable, and the next real direction should come from quarterly loan growth, asset quality and margin trends, including whether the higher borrowing costs eat into spreads.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 7,045 | 7,607 | 8,800 | 10,780 | 8,673 | 10,322 | 9,381 | 12,214 | 9,503 | 10,595 | 11,952 | 13,459 | 12,180 |
| Expenses | 4,490 | 4,798 | 5,764 | 7,182 | 5,458 | 6,604 | 5,876 | 8,419 | 5,652 | 6,594 | 7,645 | 8,924 | 7,221 |
| Financing Profit | 884 | 982 | 1,039 | 1,476 | 971 | 1,348 | 1,009 | 1,210 | 1,114 | 1,197 | 1,326 | 1,434 | 1,569 |
| Fin. Margin % | 13% | 13% | 12% | 14% | 11% | 13% | 11% | 10% | 12% | 11% | 11% | 11% | 13% |
| Other Income | 70 | 70 | 60 | 183 | 150 | 124 | 85 | 219 | 139 | 92 | 72 | 89 | 153 |
| Interest | 1,671 | 1,827 | 1,997 | 2,122 | 2,244 | 2,369 | 2,496 | 2,585 | 2,736 | 2,804 | 2,981 | 3,101 | 3,390 |
| Depreciation | 43 | 46 | 50 | 52 | 54 | 60 | 64 | 68 | 71 | 77 | 76 | 82 | 82 |
| PBT | 912 | 1,006 | 1,050 | 1,606 | 1,067 | 1,413 | 1,030 | 1,361 | 1,182 | 1,212 | 1,322 | 1,441 | 1,641 |
| Tax % | 27% | 28% | 28% | 20% | 27% | 28% | 30% | 35% | 28% | 27% | 27% | 27% | 25% |
| Net Profit | 666 | 725 | 760 | 1,288 | 779 | 1,021 | 724 | 886 | 854 | 882 | 966 | 1,047 | 1,224 |
| EPS in Rs | 2.5 | 2.71 | 2.83 | 4.79 | 2.92 | 3.84 | 2.72 | 3.32 | 3.21 | 3.27 | 3.61 | 3.86 | 4.3 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,710 | 3,645 | 5,882 | 11,526 | 15,168 | 16,696 | 19,260 | 22,232 | 30,163 | 33,958 | 40,632 | 45,513 | 48,186 |
| Expenses | 1,002 | 1,156 | 2,478 | 7,539 | 9,850 | 10,934 | 13,966 | 16,694 | 19,972 | 21,978 | 26,357 | 28,815 | 30,383 |
| Financing Profit | 596 | 877 | 1,105 | 963 | 1,208 | 1,128 | 1,378 | 2,058 | 5,469 | 4,364 | 4,581 | 5,076 | 5,527 |
| Fin. Margin % | 22% | 24% | 19% | 8% | 8% | 7% | 7% | 9% | 18% | 13% | 11% | 11% | 11% |
| Other Income | -39 | 24 | 4 | 177 | 230 | 254 | 282 | 351 | 311 | 390 | 508 | 502 | 405 |
| Interest | 1,112 | 1,612 | 2,299 | 3,024 | 4,109 | 4,634 | 3,916 | 3,480 | 4,722 | 7,617 | 9,694 | 11,622 | 12,276 |
| Depreciation | 37 | 33 | 43 | 44 | 58 | 103 | 114 | 122 | 145 | 188 | 246 | 307 | 317 |
| PBT | 519 | 869 | 1,066 | 1,096 | 1,381 | 1,280 | 1,546 | 2,287 | 5,635 | 4,566 | 4,843 | 5,271 | 5,616 |
| Tax % | 40% | 40% | 35% | 37% | 41% | 32% | 28% | 27% | 14% | 25% | 30% | 27% | — |
| Net Profit | 309 | 524 | 691 | 693 | 811 | 866 | 1,106 | 1,660 | 4,824 | 3,439 | 3,382 | 3,864 | 4,119 |
| EPS in Rs | 4.08 | 6.58 | 4.3 | 3.15 | 3.96 | 3.81 | 4.66 | 7.06 | 19.83 | 12.83 | 12.97 | 14.75 | 15.04 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 757 | 796 | 1,232 | 2,201 | 2,201 | 2,414 | 2,415 | 2,416 | 2,418 | 2,600 | 2,607 | 2,620 |
| Reserves | 1,056 | 1,921 | 5,378 | 6,337 | 7,311 | 10,162 | 11,327 | 13,076 | 17,893 | 24,217 | 27,782 | 31,804 |
| Borrowing | 15,973 | 24,750 | 33,215 | 44,516 | 56,324 | 55,966 | 53,044 | 58,425 | 84,738 | 1,10,139 | 1,40,009 | 1,79,538 |
| Other Liabilities | 1,857 | 2,574 | 38,316 | 40,502 | 43,633 | 44,978 | 57,698 | 66,897 | 75,304 | 94,667 | 1,08,245 | 1,21,005 |
| Total Liabilities | 19,642 | 30,042 | 78,141 | 93,556 | 1,09,470 | 1,13,520 | 1,24,485 | 1,40,815 | 1,80,353 | 2,31,623 | 2,78,643 | 3,34,966 |
| Fixed Assets | 284 | 314 | 778 | 837 | 892 | 1,181 | 1,259 | 1,305 | 1,279 | 1,652 | 1,929 | 1,998 |
| CWIP | 8 | 11 | 35 | 33 | 34 | 74 | 45 | 45 | 44 | 94 | 122 | 114 |
| Investments | 720 | 1,363 | 11,760 | 39,573 | 43,955 | 48,415 | 57,703 | 67,355 | 80,383 | 99,539 | 1,12,953 | 1,25,116 |
| Other Assets | 18,630 | 28,353 | 65,569 | 53,113 | 64,589 | 63,850 | 65,478 | 72,110 | 98,647 | 1,30,338 | 1,63,639 | 2,07,738 |
| Total Assets | 19,642 | 30,042 | 78,141 | 93,556 | 1,09,470 | 1,13,520 | 1,24,485 | 1,40,815 | 1,80,353 | 2,31,623 | 2,78,643 | 3,34,966 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 0 | -8,697 | -7,570 | -11,894 | -10,256 | 4,271 | 64 | -5,070 | -24,029 | -24,100 | -27,935 | -36,544 |
| Investing | 0 | -638 | -1,623 | 38 | -690 | -3,070 | 2,429 | -1,446 | -2,675 | -4,590 | 933 | -3,544 |
| Financing | 0 | 9,184 | 9,870 | 12,006 | 10,852 | 875 | -2,581 | 5,836 | 26,385 | 28,514 | 29,778 | 38,161 |
| Net Cash Flow | 0 | -151 | 678 | 150 | -94 | 2,076 | -88 | -679 | -318 | -176 | 2,776 | -1,927 |
| Free Cash Flow | 0 | -8,745 | -7,688 | -12,049 | -10,413 | 4,117 | -84 | -5,247 | -24,268 | -24,499 | -28,382 | -36,905 |
| CFO/OP | 0 | -334 | -211 | -288 | -181 | 85 | 8 | -78 | -230 | -194 | -185 | -212 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 18% | 23% | 11% | 9% | 10% | 8% | 9% | 12% | 27% | 14% | 12% | 12% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY09–FY27.
Documents
Frequently Asked Questions about Aditya Birla Capital
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Company Information
Aditya Birla Capital Limited, the holding company for the financial services businesses of the Aditya Birla Group, is a universal financial solutions group catering to the diverse financial needs of its customers across their life stages.[1]
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