11 May, 2023
ShareParticulars | Q4 FY22 | Q4 FY23 | Y-o-Y growth | FY22 | FY23 | Y-o-Y growth |
---|---|---|---|---|---|---|
Revenue1 | 6,962 | 9,146 | 31% | 23,633 | 29,999 | 27% |
Profit after Tax (after minority interest) | 450 | 609 | 35% | 1,545 | 2,057 | 33% |
Reported Profit after Tax2 | 450 | 609 | 35% | 1,706 | 4,796 | 181% |
Mumbai: Aditya Birla Capital Limited (“The Company”) announced its audited financial results for the quarter and year ended March 31, 2023.
The Consolidated Revenue1 of the Company grew by 31% year-on-year to Rs. 9,146 crore in Q4 FY23 and 27% year-on-year to Rs. 29,999 crore in FY23. The consolidated profit after tax grew 35% year-on-year, to Rs. 609 crore in Q4 FY23. The profit after tax excluding fair value gain related to health insurance business grew 33% year on year to Rs. 2,057 crore in FY23.
The Company had ~ 38 million customers as of March 31, 2023. The Company opened 247 branches during the year taking the total branch count to 1,295 as of March 31, 2023. The Company’s branch expansion is targeted at driving penetration into tier 3 and tier 4 towns and new customer segments. The Company has 584 co-located branches across 155 locations where customers receive assistance to achieve their financial goals.
The strong momentum across businesses led to a 40% year-on-year growth in the overall lending book (NBFC and HFC) to Rs. 94,364 crore as on March 31, 2023 and a 28% year-on-year growth in the gross premium (Life and Health Insurance) to Rs. 17,787 crore in FY23.
1. Segmental Revenue: Aditya Birla Sun Life AMC Ltd., Aditya Birla Wellness Pvt. Ltd and Aditya Birla Health Insurance Ltd. (from October 21, 2022) consolidated based on equity accounting under Ind AS, Consolidated Revenue shown above financial table includes revenues from these businesses on a 100% basis to show holistic financial performance
2. Reported PAT in FY23 includes fair value gain of Rs. 2,739 crores as Aditya Birla Health Insurance ceased to be a subsidiary and has been accounted as a joint venture post preferential allotment of equity shares to Platinum Jasmine A 2018 Trust, acting through its trustee, Platinum Owl C 2018 RSC Limited, being a wholly owned subsidiary of Abu Dhabi Investment Authority
The Company follows a ‘Digital First Approach’ for product innovation, direct acquisition, seamless onboarding and service delivery. In the AMC business, about 75% of customers were onboarded digitally in FY23. In Life Insurance, 77% of renewals were done digitally in FY23. In the Health Insurance business, 87% business was delivered by auto-underwriting.
The comprehensive digital platform for MSME ecosystem, Udyog Plus, went live in March 2023. It offers a paperless digital journey for business loans and loan disbursement of up to Rs. 10 lakh. Udyog Plus has been integrated with government ecommerce websites via Open Credit Enablement Network and with private ecommerce websites to provide credit facilities to sellers on these platforms. There have been more than 2,500 registrations on Udyog Plus in a month since its launch.
The Company formed a wholly-owned subsidiary, Aditya Birla Capital Digital Limited, on March 23, 2023 to develop an omni-channel Direct to Customer (D2C) platform. This platform will serve existing customers, acquire new customers, and act as a one stop-solution to deliver Protecting, Investing, Financing and Advising (PIFA) solutions to customers. The virtual engagement channel of the platform went live in March 2023. The Company is collaborating with NPCI to develop and promote digital payments through subsidiaries to its customers.
The Company launched INFINITE, the flagship start-up engagement programme, to co-create solutions for enhancing customer journeys and increasing operational efficiency.
NBFC business:
Housing Finance business:
Asset Management business:
Life Insurance business:
Health Insurance business:
Other businesses:
Aditya Birla Capital Limited (ABCL) is the holding company for the financial services businesses of the Aditya Birla Group. With subsidiaries/JVs 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 34,000 employees, the businesses of ABCL have a nationwide reach with over 1,295 branches, more than 2,00,000 agents/channel partners and several bank partners.
Aditya Birla Capital Limited is a part of the Aditya Birla Group, in the league of Fortune 500. Anchored by an extraordinary force of over 140,000 employees, belonging to 100 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 World Centre, Tower 1, 18th Floor, Jupiter Mills Compound,
841, Senapati Bapat Marg, Elphinstone Road, Mumbai – 400 013
www.adityabirlacapital.com