Aditya Birla Capital has posted 31% decline in net profit to Rs 864.60 crore in Q4FY2025 over Q4FY2024 due to high base on account of one -off gains from stake in subsidiary in Q4FY2024. The income from operation increased 19% to Rs 12214.04 crore in Q4FY2025.
The revenue from NBFC increased 11% to Rs 3839.56 crore and Life Insurance 19% to Rs 7317.87 crore, while the revenue from Health Insurance moved up 21% to Rs 1469.18 crore, and Housing Finance 60% to Rs 791.27 crore. The revenue from Asset Management also jumped 14% to Rs 498.84 crore. However, the revenue from Other Financial Services declined -57% to Rs 243.88 crore, and Stock & Securities Broking -14% to Rs 99.45 crore in Q4FY2025. The PBT from NBFC increased 11% to Rs 877.43 crore and Asset Management 14% to Rs 305.04 crore, while the PBT from Health Insurance moved up 131% to Rs 199.80 crore and Housing Finance 28% to Rs 121.06 crore in Q4FY2025. The PBT from Other Financial Services declined -77% to Rs 106.17 crore, Life Insurance -40% to Rs 49.46 crore and Stock & Securities Broking -38% to Rs 12.65 crore in Q4FY2025. Overall OPM jumped to 31.07% in Q4FY2025 from 30.22% in Q4FY2024, as other expenditure as a percentage of net sales dipped to 61.96% from 62.19%. Further, the provisions declined to 3.08% from 3.38% in Q4FY2024. The staff cost as a percentage of net sales fell to 3.89% from 4.21% in Q4FY2024. Interest cost increased 22% to Rs 2584.85 crore. Depreciation was up 30% to Rs 68.11 crore. PBT jumped 19% to Rs 1166.63 crore in the quarter ended March 2024. PBT after EO in Q4FY2024 declined 20% to Rs 1163.63 crore for Q4FY2025. The effective tax rate increased to 40.7% from 21.8%. There was loss attributable to non-controlling interest of Rs 21.01 crore in Q4FY2025 compared with Rs 42.70 crore in Q4FY2024. The share of profit from associates increased 36% to Rs 194.20 crore. Net Profit, declined -31% to Rs 864.60 crore in the quarter ended March 2024.
The revenue from NBFC increased 11% to Rs 3839.56 crore and Life Insurance 19% to Rs 7317.87 crore, while the revenue from Health Insurance moved up 21% to Rs 1469.18 crore, and Housing Finance 60% to Rs 791.27 crore. The revenue from Asset Management also jumped 14% to Rs 498.84 crore. However, the revenue from Other Financial Services declined -57% to Rs 243.88 crore, and Stock & Securities Broking -14% to Rs 99.45 crore in Q4FY2025. The PBT from NBFC increased 11% to Rs 877.43 crore and Asset Management 14% to Rs 305.04 crore, while the PBT from Health Insurance moved up 131% to Rs 199.80 crore and Housing Finance 28% to Rs 121.06 crore in Q4FY2025. The PBT from Other Financial Services declined -77% to Rs 106.17 crore, Life Insurance -40% to Rs 49.46 crore and Stock & Securities Broking -38% to Rs 12.65 crore in Q4FY2025. Overall OPM jumped to 31.07% in Q4FY2025 from 30.22% in Q4FY2024, as other expenditure as a percentage of net sales dipped to 61.96% from 62.19%. Further, the provisions declined to 3.08% from 3.38% in Q4FY2024. The staff cost as a percentage of net sales fell to 3.89% from 4.21% in Q4FY2024. Interest cost increased 22% to Rs 2584.85 crore. Depreciation was up 30% to Rs 68.11 crore. PBT jumped 19% to Rs 1166.63 crore in the quarter ended March 2024. PBT after EO in Q4FY2024 declined 20% to Rs 1163.63 crore for Q4FY2025. The effective tax rate increased to 40.7% from 21.8%. There was loss attributable to non-controlling interest of Rs 21.01 crore in Q4FY2025 compared with Rs 42.70 crore in Q4FY2024. The share of profit from associates increased 36% to Rs 194.20 crore. Net Profit, declined -31% to Rs 864.60 crore in the quarter ended March 2024.
Book value of the company stood at Rs 116.6 per share, while adjusted book value (net of Net Stage 3 assets and 10% of restructured loans) stood at 110.2 per share end March 2024.
Business highlights
NBFC business
Disbursements grew by 28% sequentially and 8% yoy to Rs 19523 crore in Q4FY25 AUM grew by 6% sequentially and 20% yoy and to Rs 126351 crore. Loans to Retail, SME and HNI customers constitute 64% of the total portfolio Profit before tax grew by 11% yoy to Rs 877 crore in Q4FY25 and 12% yoy to Rs 3360 crore in FY25 Return on assets was 2.25% in Q4FY25 and 2.27% in FY25 Gross stage 2 and 3 ratio improved by 47 bps sequentially and 71 basis points yoy to 3.78%Housing Finance business
Disbursements grew by 98% yoy to Rs 5820 crore in Q4FY25 and 109% yoy to 17468 crore in FY25 AUM grew by 69% yoy and 16% sequentially to 31053 crore Profit before tax grew by 28% yoy to Rs 121 crore in Q4FY25 and 11% yoy to Rs 419 crore in FY25 Return on assets was 1.44% in Q4FY25 and 1.46% in FY25 Return on equity was 10.95% in Q4FY25 and 11.03% in FY25 Gross stage 3 ratio improved by 33 bps sequentially and 116 basis points yoy to 0.66%Asset Management business
Mutual fund quarterly average assets under management (QAAUM) grew by 15% yoy to 381724 crore in Q4FY25, with equity mix at 44.3% Equity QAAUM grew by 11% yoy to 169065 crore in Q4FY25 Individual monthly average assets under management grew by 6% yoy to Rs 184471 crore Monthly systematic investment plan (SIP) flows grew by 5% yoy to Rs 1316 crore in March 2025 Operating profit grew by 20% yoy to 233 crore in Q4FY25 and 31% yoy to Rs 944 crore in FY25Life Insurance business
Individual First Year Premium (FYP) grew by 34% yoy to 4115 crore in FY25 Group New Business Premium grew by 23% yoy to Rs 5586 crore in FY25 Market share in individual FYP increased by 68 basis points yoy to 4.84% in FY25 13th month persistency continued to be top quartile in industry at 88% in FY25 Value of new business (VNB) grew by 17% yoy to Rs 818 core with Net VNB margin at 18.0% in FY25 Embedded value grew by 20% yoy to Rs 13812 crore as of 31 March 2025 AUM of life insurance business crossed Rs 1 lakh crore in April 2025Health Insurance business
Gross written premium (GWP) grew by 33% yoy to Rs 4940 crore Market share among standalone health insurers (SAHI) increased by 137 basis points yoy to 12.6% Combined ratio improved to 105% from 110% in FY25 One of the fastest SAHI player to achieve break even with fastest growing player.Financial Performance FY2025
For the year ended March 2024 (FY2025), the consolidated net revenue of the company increased 21% to Rs 40360.07 crore. The revenue in NBFC segment moved up 16% to Rs 14788.96 crore, Housing Finance 45% to Rs 2655.18 crore, Life Insurance 21% to Rs 22052.18 crore and Asset Management 21% to Rs 1982.29 crore. Further, the revenues from Stock & Securities Broking increased 15% to Rs 453.14 crore and Health Insurance 34% to Rs 4635.28 crore. The revenue from Other Financial Services declined -3% to Rs 859.85 crore in FY2025 over FY2024. The interest cost increased 27% to Rs 9694.18 crore, while depreciation moved up 31% to Rs 246.20 crore, while PBT jumped 12% to Rs 4224.13 crore in FY2025. The effective tax rate moved up to 32.80% in FY2025 from 26.44% in FY2024. Net Profit after non-controlling interest was flat yoy at Rs 3332.32 crore in FY2025.| Aditya Birla Capital: Consolidated Results | ||||||
| Particulars | 2503 (3) | 2403 (3) | Var % | 2503 (12) | 2403 (12) | Var % |
| Income from Operations | 12214.04 | 10293.28 | 19 | 40360.07 | 33454.41 | 21 |
| OPM (%) | 31.07 | 30.22 | 34.69 | 34.31 | ||
| OP | 3794.71 | 3111.13 | 22 | 14002.74 | 11476.84 | 22 |
| Other Income | 24.88 | 40.12 | -38 | 161.77 | 103.60 | 56 |
| PBDIT | 3819.59 | 3151.25 | 21 | 14164.51 | 11580.44 | 22 |
| Interest (Net) | 2584.85 | 2121.66 | 22 | 9694.18 | 7616.87 | 27 |
| PBDT | 1234.74 | 1029.59 | 20 | 4470.33 | 3963.57 | 13 |
| Depreciation / Amortization | 68.11 | 52.24 | 30 | 246.20 | 188.37 | 31 |
| PBT before EO | 1166.63 | 977.35 | 19 | 4224.13 | 3775.20 | 12 |
| EO | 0.00 | 486.43 | -100 | 229.91 | 486.43 | -53 |
| PBT after EO | 1166.63 | 1463.78 | -20 | 4454.04 | 4261.63 | 5 |
| Tax Expenses | 475.22 | 318.38 | 49 | 1460.95 | 1126.65 | 30 |
| PAT | 691.41 | 1145.40 | -40 | 2993.09 | 3134.98 | -5 |
| Profit attributable to non-controlling interest | 21.01 | 42.70 | -51 | 77.57 | 103.91 | -25 |
| Share of profit/loss of Associate | 194.20 | 142.71 | 36 | 416.80 | 303.91 | 37 |
| Net Profit after minority and share in associate | 864.60 | 1245.41 | -31 | 3332.32 | 3334.98 | 0 |
| EPS * | 13.3 | 12.5 | 12.1 | 11.1 | ||
| Adj BV (Rs) | 110.2 | 97.1 | 110.2 | 97.1 | ||
| * Annualized on current equity of Rs 2607.10 crore. Face Value: Rs 10, Figures in Rs crore, PL: Profit to Loss, LP: Loss to Profit | ||||||
| Source: Capitaline Corporate Database | ||||||
| Aditya Birla Capital: Segment Results | ||||||||
| Particulars | (%) of Total | 2503 (3) | 2403 (3) | Var (%) | (%) of Total | 2503 (12) | 2403 (12) | Var (%) |
| Segment Revenue | ||||||||
| NBFC | 27 | 3839.56 | 3471.13 | 11 | 31 | 14788.96 | 12702.22 | 16 |
| Housing Finance | 6 | 791.27 | 495.66 | 60 | 6 | 2655.18 | 1834.60 | 45 |
| Life Insurance | 51 | 7317.87 | 6170.74 | 19 | 46 | 22052.18 | 18254.09 | 21 |
| Asset Management | 3 | 498.84 | 436.68 | 14 | 4 | 1982.29 | 1634.10 | 21 |
| General Insurance Broking | 0 | 0.00 | 160.25 | -100 | 1 | 264.36 | 564.70 | -53 |
| Stock & Securities Broking | 1 | 99.45 | 115.63 | -14 | 1 | 453.14 | 394.37 | 15 |
| Health Insurance | 10 | 1469.18 | 1213.20 | 21 | 10 | 4635.28 | 3459.18 | 34 |
| Other Financial Services | 2 | 243.88 | 570.48 | -57 | 2 | 859.85 | 890.07 | -3 |
| Total Segmental Revenue | 100 | 14260.05 | 12633.77 | 13 | 100 | 47691.24 | 39733.33 | 20 |
| Less: Inter Segment Revenue | -121.68 | -68.83 | 77 | -322.55 | -197.04 | 64 | ||
| Total Segment Revenue from Operations (Net) | 99 | 14138.37 | 12564.94 | 13 |
| 47368.69 | 39536.29 | 20 |
| Segment Results (Profit Before Tax) | ||||||||
| NBFC | 52 | 877.43 | 793.60 | 11 | 59 | 3359.61 | 2987.07 | 12 |
| Housing Finance | 7 | 121.06 | 94.87 | 28 | 7 | 419.45 | 376.46 | 11 |
| Life Insurance | 3 | 49.46 | 83.09 | -40 | 3 | 158.40 | 197.61 | -20 |
| Asset Management | 18 | 305.04 | 267.55 | 14 | 22 | 1244.54 | 1008.15 | 23 |
| General Insurance Broking | 0 | 0.00 | 22.42 | -100 | 1 | 36.96 | 67.43 | -45 |
| Stock & Securities Broking | 1 | 12.65 | 20.42 | -38 | 2 | 101.65 | 68.93 | 47 |
| Health Insurance | 12 | 199.80 | 86.33 | 131 | 0 | -3.07 | -186.99 | -98 |
| Other Financial Services | 6 | 106.17 | 455.15 | -77 | 7 | 387.42 | 581.33 | -33 |
| Total Segment Results | 100 | 1671.61 | 1823.43 | -8 | 100 | 5704.96 | 5099.99 | 12 |
| Capital employed | ||||||||
| NBFC | 51 | 17887.80 | 15067.28 | 19 | 51 | 17887.80 | 15067.28 | 19 |
| Housing Finance | 11 | 3766.25 | 2206.95 | 71 | 11 | 3766.25 | 2206.95 | 71 |
| Life Insurance | 12 | 4243.19 | 3804.07 | 12 | 12 | 4243.19 | 3804.07 | 12 |
| Asset Management | 11 | 3792.37 | 3216.02 | 18 | 11 | 3792.37 | 3216.02 | 18 |
| General Insurance Broking | 0 | 0.00 | 154.34 | -100 | 0 | 0.00 | 154.34 | -100 |
| Stock & Securities Broking | 1 | 395.83 | 325.51 | 22 | 1 | 395.83 | 325.51 | 22 |
| Health Insurance | 4 | 1518.59 | 1052.30 | 44 | 4 | 1518.59 | 1052.30 | 44 |
| Other Financial Services | 3 | 1185.30 | 2839.83 | -58 | 3 | 1185.30 | 2839.83 | -58 |
| Total Segment | 94 | 32789.33 | 28666.30 | 14 | 94 | 32789.33 | 28666.30 | 14 |
| Inter-Segment Elimination | 6 | 2038.58 | 0.00 | - | 6 | 2038.58 | 0.00 | - |
| Add: Unallocated Corporate | 0 | -48.91 | -200.96 | -76 | 0 | -48.91 | -200.96 | -76 |
| Total | 100 | 34779.00 | 28465.34 | 22 | 100 | 34779.00 | 28465.34 | 22 |
| Figures in Rs crore, PL: Profit to Loss; LP Loss to Profit | ||||||||
| Source: Capitaline Corporate Database | ||||||||
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