Aditya Birla Capital Limited announced its unaudited financial results for the quarter ended June 30, 2024

• Consolidated PAT¹: Rs.745 crore (↑15% y-o-y)
• Consolidated Revenue^1,2: Rs.10,258 crore (↑26% y-o-y)
• NBFC AUM: Rs.1.07 lakh crore (↑25% y-o-y)
• HFC AUM: Rs.20,399 crore (↑41% y-o-y)
• Mutual fund quarterly average AUM crossed  Rs.3.5 lakh crore (↑ 19% y-o-y)
• Life insurance total premium: Rs.3,986 crore (↑ 28% y-o-y)
• Health insurance gross written premium: Rs.1,041 crore (↑ 35% y-o-y)
• Udyog Plus, B2B platform for MSMEs crossed Rs.2,600 crore AUM till date

(Rs. crore)

Aditya Birla Capital Limited (“The Company”) announced its unaudited financial results for the quarter ended June 30, 2024.

The consolidated profit after tax, excluding one-off items, grew 15% year-on-year to Rs.745 crore. The consolidated revenue 1,2 grew by 26% year-on-year to Rs.10,258 crore. The overall lending portfolio (NBFC and HFC) grew by 27% year-on-year to Rs.1,27,705 crore as of June 30, 2024. The total AUM (AMC, life insurance and health insurance) grew by 20% year-on-year to Rs.4,62,891 crore. The total premium (life and health insurance) grew by 30% year-on-year to Rs.5,027 crore.

The Company’s omnichannel architecture allows customers to choose the channel of their choice and interact seamlessly across digital platforms, branches and VRMs, fostering engagement and loyalty. During the quarter, the Company commercially launched its D2C platform, ABCD which offers a comprehensive portfolio of more than 20 products and services such as payments, loans, insurance, and investments. Its unique feature of ‘My Track’ helps users track their personal finance, credit history and health. It allows customers to fulfil their financial needs and serves as an acquisition engine for the Company. The platform has witnessed a strong response with about 8 lakh registrations to date.

The comprehensive B2B platform for the MSME ecosystem, Udyog Plus, offers a seamless, paperless digital journey for business loans, supply chain financing and a host of other value-added services. It continues to scale up quite well with more than 10 lakh registrations. The Company is also seeing an increased adoption from its existing customers, and as a result, the total portfolio of Udyog Plus has crossed Rs.2,600 crore.

The Company has a Pan-India presence of 1,505 branches across all businesses as of June 30, 2024. The branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments.

Highlights of NBFC Business

• AUM grew by 25% year-on-year to Rs.1,07,306 crore
• Loans to Retail, SME and HNI customers constitute 66% of the total portfolio
• Profit before tax grew by 21% year-on-year to Rs.833 crore
• Return on assets was at 2.41%
• Return on equity grew by 29 basis points sequentially to 16.13%
• Gross stage 2 and 3 ratio improved by 4 basis points sequentially and 101 basis points year-on-year to 4.45%

Highlights of Housing Finance Business

• Disbursements grew by 89% year-on-year to Rs.3,068 crore
• AUM grew by 11% sequentially and 41% year-on-year to Rs.20,399 crore
• Profit before tax was 85 crore
• Return on assets was 1.44% and return on equity was 11.04%
• Gross stage 2 and 3 ratio improved by 27 basis points sequentially and 214 basis points year-on-year to 2.64%

Highlights of Asset Management Business

• Mutual fund quarterly average assets under management (QAAUM) grew by 6% sequentially and 19% year-on-year to Rs.3,52,542 crore, with equity mix at ~ 46%
• Equity QAAUM grew by 37% year-on-year to Rs.1,62,129 crore
• Individual monthly average assets under management grew by 24% year-on-year to Rs.1,85,681 crore
• Monthly systematic investment plan (SIP) flows grew by 39% year-on-year to Rs.1,367 crore in June 2024
• Profit before tax grew by 27% year-on-year to Rs.305 crore

Highlights of Life Insurance Business

• Individual First Year Premium (FYP) grew by 19% year-on-year to Rs.644 crore
• Group new business premium grew by 41% year-on-year to Rs.1,498 crore
• Renewal premium grew 17% year-on-year to Rs.1,681 crore
• 13th month persistency continued to improve at 88% in June 2024 (June 2023: 87%)
• 61st month persistency was strong at 66% in June 2024 (June 2023: 57%)
• Net VNB margin was 6.50%

Highlights of Health Insurance Business

• Gross written premium (GWP) grew by 35% year-on-year to   1,041 crores, with Retail premium growth at 51% year-on-year
• Market share among standalone health insurers (SAHI) increased by 92 basis points year-on-year to 12.5%
• Combined ratio improved to 112% from 118% in Q1 FY24