Aditya Birla Capital

Financial Services firm Aditya Birla Capital on Monday said it has decided to sell its entire stake in Aditya Birla Insurance Brokers Limited (ABIBL) to Edme Services for an undisclosed amount. The proposed deal includes the sale of the entire 25,65,103 equity shares of Rs 10 each held by the company (along with its nominees), representing 50.002 per cent of the issued and paid-up share capital of ABIBL to Edme Services Private Limited, Aditya Birla Capital said in a regulatory filing. The purchaser is part of the Samara Capital Group and an affiliate of Samara Alternate Investment Fund, it added. The proposed transaction is subject to receipt of the approval of the Insurance Regulatory and Development Authority of India (Irdai), it added. As per reasonable estimates, the proposed transaction is expected to be completed within 120 to 180 days from the execution of the share purchase agreement (SPA).

Strong performance across businesses help 40% YoY growth in lending book

The publicly-traded company has held talks with potential buyers about a sale of Aditya Birla Insurance Brokers Ltd. as it failed to scale up the 19-year-old business

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The company said profitability was impaired by a sharp increase in power and fuel costs, which could not be passed on to consumers

Aditya Birla Capital on Monday reported its highest-ever quarterly profit at Rs 488 crore on a consolidated basis for the quarter ended September 2022, up by 30 per cent from a year ago, led by growth momentum across businesses. It had posted a net profit of Rs 377 crore in the same period a year ago. The total consolidated revenue of the company grew by 21 per cent to Rs 7,210 crore in the July-September period of 2022-23 from Rs 5,970 crore earlier, Aditya Birla Capital Ltd (ABCL) said in a release. The strong momentum across businesses led to a 31 per cent year-on-year growth in the overall lending book (NBFC and housing finance) to Rs 77,430 crore and a 24 per cent year-on-year growth in the gross premium (life and health insurance) to Rs 4,394 crore, ABCL said. It added nearly 20 lakh customers during the quarter, leading to a 47 per cent yearly growth in the total customer base to 4.1 crore. The company is present in non-banking finance (NBFC) business, housing finance, asse

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A news report on Monday said a 16-page whistleblower complaint alleging corruption, insider trading and front running at Aditya Birla MF was sent to the board of Aditya Birla Capital

The consolidated revenue of the company for Q4 FY22 grew 18 per cent from a year ago to Rs 6,962 crore, Aditya Birla Capital (ABCL) said in a release

In comparison, the company had posted a Profit After Tax (PAT) of Rs 156.7 crore in the year-ago period, according to a filing to the stock exchanges

Incumbent Ajay Srivinasan shall take up another role within the Aditya Birla Group.

Analysts are upbeat on the long-term prospects of Aditya Birla Capital and have set price targets between 20 per cent and 45 per cent higher than the current market price

The company had posted a net profit of Rs 2,157.12 crore during the October- December quarter of the previous financial year, Grasim Industries said in a regulatory filing

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Non-convertible redeemable preference shares are preference shares that can be redeemed and do not include a preference share that is convertible into or exchangeable with equity shares of the issuer

The company had posted a consolidated net profit of Rs 264 crore in the same period a year ago

The company had posted a net profit of Rs 198 crore in the year-ago period.