Aditya Birla Capital Ltd(ABCAPITAL)

NSE: ABCAPITALBSE: 540691

₹ 351+1.23%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 96,097 crNext results: 30 Oct 2026Website: www.adityabirlacapital.comUpdated: 24 Oct 2026

About

Aditya Birla Capital Limited (ABCL) is a listed systemically important non-deposit-taking NBFC and the holding company of Aditya Birla Group's financial services businesses, offering loans, investments, insurance and payments across India. As of FY26, the total lending book stood at ₹2,07,368 crore and total AUM across asset management, life and health insurance reached ₹5,91,343 crore. ABCL's subsidiaries span NBFC lending, housing finance, asset management, life insurance and standalone health insurance, operating through 1,740 branches and over 2,00,000 channel partners.^[1]

Business segments

Life Insurance was the largest segment in FY26 with 44.1% of segment revenue (₹23,974.11 crore).^[2]
Lending excluding housing finance contributed 31.6% of FY26 segment revenue (₹17,148.52 crore).^[2]
Health Insurance contributed 11.8% of FY26 segment revenue (₹6,437.04 crore); its share rose 8.8 percentage points over FY2019-FY2026.^[2]
Housing Finance contributed 7.5% of FY26 segment revenue (₹4,065.57 crore), up 1.3 percentage points in share over FY2019-FY2026.^[2]
Asset Management (ABSLAMC) contributed 3.8% of FY26 segment revenue (₹2,056.16 crore), down 4.7 percentage points in share over FY2019-FY2026; it offers mutual funds, PMS, AIF and offshore products.^[2]

Key operating metrics

NBFC AUM reached ₹1,67,456 crore in Q1 FY27, up 28% year-on-year and 5% quarter-on-quarter; disbursements grew 34% year-on-year to ₹21,201 crore.^[3]
NBFC NIM including fee income was 6.07% in Q1 FY27 (+10 bps year-on-year); GS3 improved to 1.30% (down 127 bps year-on-year); credit cost 1.03% (down 27 bps year-on-year).^[3]
Housing Finance AUM reached ₹51,833 crore in Q1 FY27, up 50% year-on-year; RoA 2.12%, within the 2.0% - 2.2% target band; GS3 0.41% (down 22 bps year-on-year).^[3]
ABSLAMC overall QAAUM including alternate assets grew 42% year-on-year to ₹6.28 lakh crore in Q1 FY27; closing total AUM crossed ₹10 lakh crore after an EPFO mandate of ~₹6.08 lakh crore.^[3]
Life insurance individual FYP grew 20% year-on-year to ₹952 crore in Q1 FY27; net VNB margin reached 15.1%, up 756 bps year-on-year; 13-month persistency 82.8%.^[3]
Health insurance GWP grew ~50% year-on-year to ₹2,196 crore in Q1 FY27; SAHI market share 16.2% (+200 bps year-on-year); combined ratio 106% vs 107% prior year.^[3]

Operations and branch network

ABCL operated 1,740 branches across businesses as of 31 March 2026, with nearly 59% co-located across more than 260 locations.^[1]
NBFC had 465 branches as of 31 March 2026, up 16 in FY26 (from 449 at FY25), with most additions in Tier III and Tier IV markets.^[1][4]
ABHFL had 174 branches as of 31 March 2026 covering 18 States and Union Territories, present in 123 cities and accessible to over 8,000 pin codes.^[1]
Total employee strength as of 31 March 2026 was over 68,447; Gen Y and Gen Z constituted over 85% of the workforce; women represented 33%.^[1]

Products, brands and digital platforms

ABCL operates three digital platforms: ABCD (D2C, ~11 million customers as of March 2026), Udyog Plus (B2B for MSMEs) and Stellar (B2D for channel partners).^[1]
Udyog Plus reached ~2.42 million registrations and ₹6,229 crore AUM in Q1 FY27 vs ₹5,814 crore at FY26, contributing ~53% of NBFC's unsecured business loan book.^[3][1]
ABHI's flagship health product Activ One has seven variants; ABSLI launched 6 major individual products in FY26, contributing 18% of Individual First Year Premium.^[1]

Customers and distribution

NBFC loan book by customer segment as of FY26: secured business 46% of AUM, corporate/mid-market 29%, personal and consumer 13%, unsecured business 11%.^[1]
Retail and SME accounted for 72% of NBFC disbursements in Q1 FY27, up from 68% the prior quarter.^[3]
AMC distribution includes 93,700+ KYD-compliant MFDs, 360+ national distributors and 90+ bank partners; ABCL as a whole has over 2,00,000 agents/channel partners.^[1]
ABHI covered about 24 million lives as of 31 March 2026. ABCL operates only in India.^[1]

Market position and ratings

ABHI's SAHI market share reached 16.2% in Q1 FY27 vs 13.6% as of FY26, when it was the highest among standalone health insurers.^[3]
ABHFL was among the top three players in incremental loan book growth over the last six consecutive quarters as of FY26.^[1]
ABHFL holds AAA (stable) long-term ratings from ICRA, India Ratings and CRISIL; ABCL's long-term facilities are rated AAA and short-term A1+.^[1]
ABSLI grew individual FYP 15% year-on-year to ₹4,725 crore in FY26 vs private industry growth of 10%; market share ~4.9% in H1 FY26.^[5]

Expansion plans and targets

NBFC aims to grow its overall portfolio at a 25% CAGR over the next three years and achieve a sustainable RoA of 2.5% across cycles (FY26 annual report).^[1]
NBFC is entering gold loans organically: go-live planned Q2 FY27 with ~200 standalone gold loan branches by March 2027, scaling to ~1,000 branches over 3 years.^[3]
HFC targets a ₹1 lakh crore+ AUM franchise over the next 8 - 10 quarters from Q1 FY27 with 15% RoE; plans 80 - 100 additional branches in FY27.^[3]
Life insurance targets 20%+ individual FYP CAGR and VNB margin above 20% (raised from >18%) over three years from FY25, targeting ~₹1,636 crore net VNB by FY29.^[3]
Health insurance targets a 100% combined ratio on an IFRS basis in FY27; combined ratio was 106% in Q1 FY27.^[3][1]
AMC plans new equity and fixed-income AIF launches and PMS scale-up; PMS/AIF AUM grew from ₹28,650 crore in Q1 FY26 to ~₹2 lakh crore in Q1 FY27.^[3]

Recent developments

On 17 April 2026, ABHFL allotted 12,32,52,061 equity shares to Advent International on a preferential basis; ABCL's stake in ABHFL fell to ~86%.^[5]
EPFO awarded ABSLAMC a mandate of approximately ₹6.08 lakh crore, taking the AMC's closing total AUM past ₹10 lakh crore as of 30 June 2026.^[3]
In Q1 FY27 management said no capital raise is planned at ABCL, HFC or any other entity in the near future; insurance growth capital is provided for three years.^[3]
AI tools are live, including ABSLI's Saras.AI and HFC's Fintellect credit memo AI; management cited 20 - 30% underwriting productivity improvement (Q1 FY27).^[3]

Market Cap

₹96,097 Cr

High / Low

₹431 / 288

Stock P/E

22.4

Price / Book

2.6

Book Value

₹131

EPS

₹14.4

No. of Shares

261.96 Cr

ROCE

5.6%

ROE

11.6%

Sales

₹45,509 Cr

Net Profit

₹3,864 Cr

Promoter holding

68.8%

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