Aditya Birla Capital Limited (ABCAPITAL) share price

₹404.90 on NSE as of 2026-09-04. +0.72% on the day. market cap ₹110,708 Cr. P/E 25.9. 52-week range ₹274.85 to ₹424.70. Financial Services.

Aditya Birla Capital Q1 FY27: ₹4,000 Crore Raised, ₹1,175 Crore Earned, and a Gold Loan Business That Doesn't Exist Yet

At a glance

Six businesses, one holding company, and a quarter where nearly all of them moved in the same direction — which, for a financial conglomerate, is rarer than the org chart suggests.

Consolidated revenue for the June 2026 quarter came in at ₹12,180 crore, up 28% from ₹9,503 crore a year earlier. Profit after tax was ₹1,175 crore against ₹839 crore, a 40% rise. EPS was ₹4.30. Sequentially, revenue was lower than the ₹13,459 crore March quarter, while profit was higher than March's ₹1,011 crore — the fourth-quarter revenue bulge is a familiar shape in insurance-heavy groups.

Underneath, the lending arm reported AUM of ₹1,67,456 crore, up 28% year-on-year, with disbursements of ₹21,201 crore. Housing Finance crossed ₹50,000 crore for the first time, landing at ₹51,833 crore, up 50%. Life insurance's Net VNB margin went from 7.5% to 15.1% — management describes the move as almost doubling. Health insurance, which lost ₹28 crore in the comparable quarter, reported an ₹18 crore profit under IFRS.

The quarter's largest single event wasn't operational at all. In June, the company allotted 11.24 crore shares for ₹3,999.99 crore to Grasim, Suryaja Investments and IFC — a preferential issue whose proceeds management has earmarked overwhelmingly for NBFC growth. Two months earlier, Advent's Indriya had put ₹2,750 crore directly into the housing finance subsidiary.

And then there is the announcement that the company will start lending against gold, a product it does not yet offer, out of branches it has not yet built. More on that below.

Introduction

Aditya Birla Capital Limited is the holding company for the financial services businesses of the Aditya Birla Group, describing itself as a universal financial solutions group serving customers across their life stages. Grasim Industries holds 53.06% and the wider promoter group takes the total to 68.81%.

The corporate shape changed materially on 1 April 2025, when the scheme of amalgamation of Aditya Birla Finance Limited with ABCL became effective. Per Crisil's May 2026 rationale, prior to that date ABCL was a non-operating holding company with an NBFC-CIC licence; it is now registered with the RBI as an NBFC-ICC and carries out the lending business itself while also holding investments in the group's other financial services entities. A holding company that woke up one morning as an operating lender is an unusual biography, and it explains why the standalone numbers now look like an NBFC's.

The past twelve months have been dense with capital movement. In February 2026 the company allotted 163 perpetual NCDs of ₹163 crore at an 8.371% coupon. A postal ballot the same month sought approval to appoint two directors and to issue NCDs privately up to ₹1,36,000 crore. In March, ₹755 crore of NCDs went out across three tranches, followed by another ₹250 crore at 8.03% on a ten-year tenor, plus a ₹750 crore rights subscription into the housing finance arm. In April, the CCI cleared Advent's ₹2,750 crore investment into ABHFL, and the shares were allotted on 17 April, taking ABCL's stake there to 85.505%. In May the board approved a preferential issue of up to ₹4,000 crore; the allotment completed on 23 June.

July brought two more subscriptions — ₹484.5 crore into the life insurance subsidiary on 17 July, and ₹123.89 crore into the health insurance rights issue on 21 July, with that stake steady at 45.89%. The board met on 31 July to approve the Q1 FY27 results, grant stock options and PSUs, and appoint Subhash Subramaniam as Chief Technology Officer with effect from 3 August 2026 — filling the seat vacated when Ramesh Narayanaswamy resigned effective 28 February 2026 to pursue external opportunities.

Crisil reaffirmed its AAA/Stable on the bank facilities and NCDs in May 2026, assigned AAA/Stable to ₹3,000 crore of subordinated debt and AA+/Stable to ₹2,000 crore of perpetual bonds.

Business model

They do everything. That is not a compliment or a criticism, it is a description.

The lending business — now sitting inside ABCL itself — runs ₹1,67,456 crore of AUM across four verticals. Secured business loans are the biggest slab at ₹76,319 crore, unsecured business ₹18,780 crore, personal and consumer loans ₹23,267 crore, and corporate/mid-market ₹49,090 crore. About 72% of the book is secured. The average ticket size ranges from roughly ₹1.9 lakh in personal loans to about ₹76 crore in corporate — the same lending licence writing cheques three orders of magnitude apart, which is either diversification or a very wide-mouthed funnel depending on where you stand.

Aditya Birla Housing Finance runs ₹51,833 crore across prime home loans, prime LAP, affordable home loans, affordable LAP and construction finance, from 209 branches covering about 85% of its addressable market, serving 1,45,400 customers at an average retail ticket of ₹30 lakh.

Aditya Birla Sun Life AMC manages mutual fund QAAUM of ₹4,27,675 crore, of which ₹1,98,722 crore is equity — a 46.5% equity mix — serviced through 95,500+ MFDs, 360+ national distributors, 90+ banks and 130+ digital partners across 310+ locations. Passive AUM is ₹39,953 crore. It also holds Rank 1 in debt index products.

Aditya Birla Sun Life Insurance sells through 111 banca tie-ups, 450+ own branches, 63,000+ agents and 28,300+ bank branches across 4,700+ cities, running AUM of ₹1,17,487 crore. Product mix has swung to 71% traditional including protection, 29% ULIP.

Aditya Birla Health Insurance operates in 5,000+ cities with 230+ branches, 198,000+ agents, 17,000+ network hospitals and a 12,000+ OPD network. Its distinguishing feature is that it pays you for walking. Log two meals, average 7,500+ steps or 250+ calories a session, sleep seven to eight hours, and you can earn back up to 100% of premium. In Q1 FY27, about 12% of eligible customers earned those incentives; 11,000+ earned the full 100%. Customers logged 174 billion steps in the quarter. Somewhere in an actuarial spreadsheet, that number has a rupee value.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Aditya Birla Capital Limited.

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