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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Aditya Birla Capital Limited    540691   INE674K01013

ADITYA BIRLA CAPITAL LIMITED

(540691)
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Aditya Birla Capital : reports results for the quarter ended 30th June, 2020

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08/10/2020 | 08:53am EDT

Aditya Birla Capital reports results for the quarter ended 30th June, 2020.

Highlights:

Resilience across businesses despite lockdown, with focus on balanced growth, liquidity, technology enhanced processes and cost control

91% of overall Aditya Birla Capital branches operational with strict health protocols

Consolidated Net Profit at Rs.198 Crore (grew 1.4 times over previous quarter)

Consolidated Revenue: Rs.4,293 Crore (grew 9% year on year)

Consolidated Results

(Rs. in crores)

Particulars 	Quarter 1 FY 20 	Quarter 4 FY 20 	Quarter 1 FY 21
Revenue1 	3,943 	5,094 	4,293
Profit after Tax (after minority interest) 	270 	144 	198

Mumbai: Aditya Birla Capital Limited ('The Company') announced its unaudited financial results for the quarter ended 30th June 2020.

The Consolidated Revenue of the Company grew 9 per cent year on year to Rs.4,293 Crore. The Company, through its subsidiaries, continued its consistent delivery of profit through its diversified business model. The consolidated profit after tax (after minority interest) grew 1.4 times over Q4 FY20 to Rs.198 Crore, marked by resilience across businesses. This is after providing an additional Rs.62 Crore as COVID provisions in its lending businesses in Q1 FY21.

With 91 per cent of its branches operational with strict health protocols, the company looked to normalise its operations through Q1 FY21. The Company will continue to monitor developments in the market as lockdowns get lifted. Aggregated2 operating expenses (excluding volume linked and Health Insurance business) have reduced 10 per cent over the last quarter.

1 Aditya Birla Sun Life AMC Ltd. and Aditya Birla Wellness Pvt. Ltd. consolidated based on equity accounting under Ind AS, Consolidated Revenue shown above includes revenues from these two businesses on a 100% basis to show holistic financial performance

2 Excluding Aditya Birla Health Insurance operating expenses given the business is scaling up and on path to break-even

The performance highlights of the key subsidiaries of Aditya Birla Capital Ltd. were:

Lending:

Overall lending book (NBFC and Housing Finance) stood at Rs.58,073 Crore

Maintained Core operating profit in NBFC and Housing Finance despite slow recovery under lockdown

Lending book is backed by well-matched asset and liability mix with adequate liquidity

Raised over Rs.1,500 Crore of long-term funds during the quarter

Continue to have strong focus on quality of book with reduced ticket sizes across the board

NBFC business:

Loan book at Rs.45,939 Crore; restarted lending with caution during the quarter with gradual ramp up of activity, currently 100 per cent branches operational

Maintained Core operating profit with pre- provision operating profit at Rs.392 Crore, during the quarter

Additional COVID related provisions of Rs.50 Crore in Q1 FY21

Cost to income ratio reduced by 223 bps from 33.5 per cent in Q4 FY20 to 31.3 per cent in Q1 FY21

The Net profit after tax stood at Rs.140 Crore vis-a-vis Rs.137 Crore in previous quarter

Housing Finance business

Loan book at Rs.12,134 Crore, with 96 per cent retail

Net interest margins expanded by 29 bps to 3.27 per cent over previous year

Maintained core operating profit with pre provision operating profit at Rs.52 Crore

Additional COVID related provisions of Rs.12 Crore in Q1 FY21

Strong drive towards technology deployment to drive sales and customer engagement with 85 per cent of sourcing digital in July '20

The Net profit after tax for the quarter stood at Rs.28 Crore vis-a-vis Rs.21 Crore in Q4 FY20 and Rs.27 Crore in Q1 FY20

Asset Management

Overall closing assets under management grew by 8 per cent to Rs.2,17,643 Crore from March 20 to June 20

Closing equity AUM grew by 19 per cent to Rs.78,017 Crore from March 20 to June 20

Keeping its continued focus on building retail customer franchise, the retail AAUM grew by 12 per cent over the last quarter; while the SIP AUM increased by 27 per cent, quarter on quarter

Maintained profitability with Profit before tax/AAUM at 24 bps vis-a-vis 22 bps in Q4 FY20

Digital transactions account for 94 per cent of overall transactions as compared to 81 per cent in previous quarter

Insurance:

Total gross premium of life insurance and health insurance grew 38 per cent year on year to Rs.1,936 Crore.

Life Insurance business

Individual First Year Premium (FYP) grew 5 per cent year on year to Rs.309 Crore, significantly ahead of industry year on year degrowth of 23 per cent

Consistent improvement in quality with 13th month persistency by 200 bps, year on year, to 81 per cent, from 79 per cent

Strong focus on digital with 96 per cent individual business sourced digitally

Maintained gross margin at 33.1 per cent despite falling interest rate scenario

Sharp reduction in Opex to premium ratio, year on year, from 23.1 per cent to 16.3 per cent

Health Insurance business

Gross written premium at Rs.246 Crore; grew 72 per cent over the previous year, ahead of industry growth of 16 per cent for Stand Alone Health Insurers, with Retail business contributing 73 per cent

Covering 8.9 million lives out of which over 5 million lives covered through micro and byte size products

Business continues to build scale with significant improvement in combined ratio at 132 per cent vs. 146 per cent in the previous year

Robust digital enablement with 98 per cent digital issuance in Q1 FY21 vs. 93 per cent in FY20 and digital renewals at 92 per cent vs. 65 per cent in previous year

Other businesses

Profit before tax grew 64 per cent year on year to Rs.41 Crore from Rs.25 Crore

General Insurance broking profit before tax grew 20 per cent year on year to Rs.29 Crore driven by technology adoption

ARC platform continues to scale up with AUM at Rs.2,500+ Crore

Aditya Birla Capital has a diversified portfolio of businesses catering to the lifetime money needs of its customers. This diversification also allows the company to capture opportunities in different segments of the market and deliver consistent growth.

About Aditya Birla Capital Ltd.

Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to diverse needs of its customers across their life cycle. Powered with more than 21,000 employees, the subsidiaries of ABCL have a nationwide reach with 850+ branches and more than 2,00,000 agents/channel partners and several bank partners.

Aditya Birla Capital is a part of the Aditya Birla Group, a USD 48.3 billion Indian multinational, in the league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 36 countries across the globe.

Disclaimer: Certain statements in this 'Media Release' may not be based on historical information or facts and may be 'forward looking statements' within the meaning of applicable securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development, information or events, or otherwise. This 'Press Release' does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the Company's shares. The financial figures in this 'Press Release' have been rounded off to the nearest Rs.one Crore. The financial results are consolidated financials unless otherwise specified.

Aditya Birla Capital Limited

Corporate Identity Number L67120GJ2007PLC058890

Regd. Office: Indian Rayon Compound, Veraval 362 266 (Gujarat)

Corporate Office: One Indiabulls Centre, Tower 1, 18th Floor, Jupiter Mills Compound,

841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013

Follow us at : www.adityabirlacapital.com / www.twitter.com/abcapital

(C) 2020 Electronic News Publishing, source ENP Newswire


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Sales 2021 157 B 2 141 M 2 141 M
Net income 2021 8 282 M 113 M 113 M
Net Debt 2021 - - -
P/E ratio 2021 18,1x
Yield 2021 -
Capitalization 150 B 2 039 M 2 040 M
Capi. / Sales 2021 0,95x
Capi. / Sales 2022 0,83x
Nbr of Employees 21 000
Free-Float 23,0%
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Number of Analysts 5
Average target price 82,40 INR
Last Close Price 62,05 INR
Spread / Highest target 61,2%
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NameTitle
Ajay Srinivasan Chief Executive Officer
Kumar Mangalam Birla Non-Executive Chairman
Mukesh Malik Chief Operating Officer
Pinky Atul Mehta Chief Financial Officer
Arun Kumar Adhikari Independent Director
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