Aditya Birla Capital Limited (AB Capital) Return Comparision with Primex 40 Index

Periods	1 Week	1 Month	3 Months	6 Months	1 Year	3 Years	All Time
Primex-40
Aditya Birla Capital Limited

Aditya Birla Capital Ltd Consolidated Balance Sheet (Rs in Crores)

Particulars	31-03-2024	31-03-2023
Financial Assets
Cash and Cash Equivalents	1,554.30	1,730.79
Bank Balances other than above	2,024.71	585.07
Derivative Financial Instruments	360.15	5.97
Trade Receivables	698.14	411.08
Other Receivables	16.08	0.00
Loans	1,23,117.76	93,427.26
Investments of Life Insurance Policyholders	46,652.12	36,943.85
Investments of Life Insurance Shareholders	4,000.98	3,302.91
Other Investments	8,486.97	5,326.49
Assets Held to Cover Linked Liabilities	36,005.19	30,505.79
Other Financial Assets	1,817.69	1,785.42
Non-Financial Assets
Current Tax Assets (Net)	119.63	231.73
Deferred Tax Assets (Net)	517.91	476.73
Investment Property	13.94	14.37
Property, Plant and Equipment	255.44	147.62
Capital Work-in-Progress	9.65	8.62
Intangible Assets Under Development	84.58	35.42
Goodwill	554.83	554.83
Other Intangible Assets	262.62	168.34
Right-to-Use of Assets	565.50	393.58
Investments in Associates and Joint Ventures	4,393.65	4,303.82
Other Non-Financial Assets	585.55	394.36
Assets Held for Sale	4.44	0.00
Total Assets	2,32,101.83	1,80,754.05
Financial Liabilities
Derivative Financial Instruments	97.49	13.69
Pyabales:
Total Outstanding dues of Micro & Small Enterprises	30.89	24.97
Total Outstanding dues of Creditors Other than above	1,382.19	1,381.60
Debt Securities	36,895.55	27,244.86
Borrowings (other than Debt Securities)	68,834.42	53,815.47
Subordinated Liabilities	3,810.13	3,260.44
Lease Liabilities	599.24	416.73
Policyholders ' Liabilities	85,388.46	69,089.94
Other Financial Liabilities	5,026.42	2,562.74
Non-Financial Liabilities
Current Tax Liabilities (Net)	315.56	185.78
Provisions	319.02	264.04
Deferred Tax Liabilities (Net)	478.54	401.54
Other Non-Financial Liabilities	286.14	272.18
Equity
Equity Share Capital	2,600.02	2,417.99
Other Equity	24,217.24	17,892.76
Equity Attributable to Owners	26,817.26	20,310.75
Non-Controlling Interests	1,820.52	1,509.32
Total Liabilities and Equity	2,32,101.83	1,80,754.05

Aditya Birla Capital Ltd Consolidated Profit & Loss Statement (Rs in Crores)

Particulars	31-03-2024	31-03-2023
Revenue from Operations
Interest Income	14,290.58	9,563.16
Dividend Income	2.72	2.92
Fees and Commission Income	1,348.54	1,240.67
Net Gain on Fair Value Changes	362.13	114.35
Net Gain on De-recognition of Financial Assets	58.98	-
Gain on Sale of Investments	486.43	-
Life Insurance Policyholders ' Income	17,950.07	15,186.08
Health Insurance Policyholders ' Income	-	1,300.58
Sale of Services	6.09	7.89
Other Income	55.04	2,785.68
Total Income	34,560.58	30,201.33
Expenses
Finance Costs	7,617.25	4,722.00
Fees and Commission Expense	478.19	470.25
Impairment on Financial Instruments	1,352.29	981.09
Employee Benefits Expenses	1,537.88	1,140.07
Life Insurance Policyholders ' Expenses	17,869.93	15,125.69
Health Insurance Policyholders ' Expenses	-	1,472.03
Depreciation and Amortisation	193.82	144.83
Other Expenses	1,232.77	782.71
Total Expenses	30,282.13	24,838.67
Profit Before Share of Associates and Joint Ventures and Tax	4,278.45	5,362.66
Share of Profit/(Loss) of Associate and Joint Venture Companies	303.91	272.57
Profit Before Tax	4,582.36	5,635.23
Current Tax relating to other than revenue account	1,072.85	856.81
Short/(Excess) provision for Current tax related to earlier years	-31.09	0.69
Deferref Tax	36.07	-114.84
Current Tax relating to Revenue account	65.64	68.50
Profit for the Year	3,438.89	4,824.07
Other Comprehensive Income	56.73	-102.29
Relating to Revenue Account of Life Insurance Policyholders
Items that will not be reclassified to profit or loss in subsequent periods	-10.04	-2.70
Items that will be reclassified to profit or loss in subsequent periods	523.18	-126.48
Less: Transferred to Policyholders ' Fund in the Balance Sheet	-513.18	129.18
Relating to Revenue Account of Health Insurance Policyholders
Items that will not be reclassified to profit or loss in subsequent periods	-	0.36
Items that will be reclassified to profit or loss in subsequent periods	-	-35.96
Related to Others
Items that will not be reclassified to profit or loss in subsequent periods	56.41	0.06
Income Tax relating to items that will not be reclassified to profit or loss	-20.88	-0.72
Items that will be reclassified to profit or loss in subsequent periods	21.79	-76.29
Income Tax relating to items that will be reclassified to profit or loss	-0.59	10.26
Other Comprehensive Income for the Year	56.73	-102.29
Total Comprehensive Income	3,495.62	4,721.78
Profit for the Year attributable to
Owners of the Company	3,334.98	4,795.77
Non-Controlling Interests	103.91	28.30
Other Comprehensive Income for the Year attributable to
Owners of the Company	20.94	-40.44
Non-Controlling Interests	35.79	-61.85
Total Comprehensive Income
Owners of the Company	3,355.92	4,755.33
Non-Controlling Interests	139.70	-33.55
Earnings Per Share - Basic	13.05	19.84
Earnings Per Share - Diluted	12.95	19.77

Aditya Birla Capital Ltd Consolidated Cash Flow Statement (Rs in Crores)

Particulars	31-03-2024	31-03-2023
Cash Flow from Operating Activities
Profit Before Share of Associates and Joint Ventures and Tax	4,278.45	5,362.66
Adjustment For:
Expense on Employee Stock Options Scheme	102.65	44.64
Impairment on Financial Instruments	1,353.20	983.46
Net Gain on Fair Value Changes	-792.96	-154.44
Gain on Sale of Investment	-486.43	0.00
Change in Valuation of Insurance Liabilities	7,861.66	7,451.57
Fair Value Gain on Conversion to JV	-	-2,739.07
Depreciation and Amortisation	291.44	252.38
Profit/(Loss) on Sale of Property, Plant and Equipment	0.36	0.58
Operating Profit Before Working Capital Changes	12,608.37	11,201.78
Adjustment For:
Change in Trade Receivables	-306.45	245.55
Change in Loans	-31,066.25	-28,190.15
Change in Other Assets	-153.60	-191.52
Change in Trade Payables	6.51	712.48
Change in Provisions	63.27	-36.53
Change in Policyholders ' Net Assets	-7,229.70	-7,523.41
Change in Other Liabilities	2,864.59	313.76
Cash Generated from Operations	-23,213.26	-23,468.04
Income Taxes Paid	-887.24	-560.55
Net Cash from Operating Activities	-24,100.50	-24,028.59
Cash Flow from Investing Activities
Additions to Fixed and Intangible Assets	-402.41	-245.58
Proceeds from Sale of Fixed Assets	4.24	5.83
Purchase of Long-Term Investments	-114.10	-416.10
Proceeds from Sale of Long-Term Investments	369.03	231.97
Sale of Investment in Associate Company	639.00	0.00
Net Purchase of Insurance Shareholders’ Investments	-628.30	-447.90
Net Purchase/Sale of Current Investments	-3,137.11	-1,937.51
Movement in Long-Term Deposits	-1,396.26	3.15
Dividend Received	75.62	156.27
Net Cash from Investing Activities	-4,590.29	-2,649.87
Cash Flow from Financing Activities
ESOP Proceeds	70.47	8.91
Proceeds from Share Issue (Net)	2,962.63	0.00
Subsidiary Share Issue to NCI	171.50	267.05
Proceeds from Long-Term Borrowings	32,860.11	35,390.80
Repayment of Long-Term Borrowings	-16,578.01	-14,505.91
Net Short-Term Borrowings	9,131.02	5,351.54
Lease Liability Payments	-107.82	-98.23
Dividend Paid to NCI	0.00	-30.01
Share Application Money Received	4.40	1.06
Net Cash from Financing Activities	28,514.30	26,385.21
Net Decrease in Cash and Cash Equivalents	-176.49	-293.25
Opening Cash and Cash Equivalents	1,730.79	2,048.85
Adjustment from Conversion to JV	0.00	-24.81
Closing Cash and Cash Equivalents	1,554.30	1,730.79

Cash Flow from Operating Activities

In FY 2023–24, the company started with a profit before share of associates, joint ventures, and tax of ₹4,278.45 crore (down from ₹5,362.66 crore in FY 2022–23).

Several non-cash adjustments were made, including:

Employee stock options expense increased significantly to ₹102.65 crore.

Impairment on financial instruments also rose to ₹1,353.20 crore, showing greater provisioning.

Net gain on fair value changes and gain on sale of investments were deducted (as they are non-operating), reducing cash by ₹792.96 crore and ₹486.43 crore, respectively.

Change in insurance liabilities valuation added ₹7,861.66 crore, reflecting policy-related obligations.

In the previous year, a one-time gain of ₹2,739.07 crore was recognized due to the conversion of Aditya Birla Health Insurance into a joint venture.

After including depreciation, amortisation, and minor gains/losses on asset sales, the operating profit before working capital changes was ₹12,608.37 crore.

However, significant cash outflows were observed due to:

A sharp increase in loans disbursed (-₹31,066.25 crore),

A reduction in net policyholder assets (-₹7,229.70 crore), and

Increases in other liabilities provided partial relief.

Ultimately, after paying taxes of ₹887.24 crore, the net cash used in operating activities stood at -₹24,100.50 crore, similar to last year 's outflow of -₹24,028.59 crore. This suggests heavy reinvestment and expansion in lending and insurance operations.

Cash Flow from Investing Activities

Net cash used in investing increased to -₹4,590.29 crore in FY24 from -₹2,649.87 crore in FY23.

Key contributors:

Investments in current and long-term instruments (₹3,137.11 crore and ₹114.10 crore respectively).

Purchase of insurance-related investments (₹628.30 crore).

Proceeds from sale of investments, including a significant ₹639.00 crore from selling an associate company.

Additions to fixed and intangible assets rose to ₹402.41 crore.

Though dividend income and sale proceeds supported inflows, the company 's investing activities remain in outflow mode due to asset acquisitions and capital allocation in financial instruments.

Cash Flow from Financing Activities

This section saw strong positive cash flow of ₹28,514.30 crore in FY24 (up from ₹26,385.21 crore in FY23), mainly due to:

Fresh long-term borrowings of ₹32,860.11 crore,

Equity infusion through share issues amounting to ₹2,962.63 crore,

Subsidiary capital raising of ₹171.50 crore,

Net short-term borrowing of ₹9,131.02 crore.

Repayments and payments like lease liabilities and dividends were minimal in comparison, allowing the financing segment to more than offset operating and investing cash outflows.

Net Movement in Cash and Cash Equivalents

The overall net decrease in cash stood at -₹176.49 crore (improved from -₹293.25 crore in FY23).

Starting from an opening balance of ₹1,730.79 crore, and with no JV-related adjustments this year, the company ended FY24 with ₹1,554.30 crore in cash and cash equivalents.