ABCAPITAL · Financial Services
Aditya Birla Capital Ltd. reported revenue of ₹12,180 cr for April to June 2026, +28.2% on the year and −9.5% on the quarter. That is faster than this quarter has grown in recent years (+16.3% on average), so the year-on-year number is not just the season. Over the last four quarters revenue comes to ₹48,186 cr, +16.3% on the four before.
Operating profit (EBITDA) was ₹4,959 cr, a margin of 40.7%, +2,899 bps on the year and +3,006 bps on the quarter. It is the widest margin of the last 8 quarters (range 9.9% to 40.7%). Operating costs grew −13.9% against revenue growth of +28.2%, so more of each rupee of sales reached operating profit.
Net profit was ₹1,224 cr, +43.3% on the year and +16.9% on the quarter, with earnings per share of ₹4.46. Profit before other income, one-offs and tax grew faster, at +56.6%; other income, one-offs or tax held the headline back. The tax rate of 25% is in line with its recent average. Profit over the last four quarters totals ₹4,198 cr, +20.4% on the four before.
Asset managers and brokers earn fees on assets and activity, so revenue follows market levels and flows; treasury income can lift other income in a good market quarter. The quarterly statements do not carry assets under management, flows and the yield on assets; those come with the filing read.
On earnings per share of ₹15.50 over the last four quarters, the stock at ₹378.50 trades at 24.4 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Metric | Q1 FY27 | Q2 FY26 |
|---|---|---|
| QAAUM (₹ cr) | 427,675 | 425,171 |
| SIP flows (₹ cr) | — | 1,100 |
| Equity QAAUM (₹ crore) | 198,722 | 192,401 |
| Total Lending AUM (₹ crore) | — | 177,855 |
| NBFC AUM (₹ crore) | 167,456 | 139,585 |
| Housing Finance AUM (₹ crore) | 51,833 | 38,270 |
Read using the AMCs and capital market intermediaries framework (named in the filing read). Primary valuation lens: P/E against AUM growth and yield.
Read more closely in this sector: Treasury and float income inside profit · F&O share of revenue against regulatory change.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹8,800 cr | ₹10,780 cr | ₹8,673 cr | ₹10,322 cr | ₹9,381 cr | ₹12,214 cr | ₹9,503 cr | ₹10,595 cr | ₹11,952 cr | ₹13,459 cr | ₹12,180 cr | ₹14,003 cr |
| YoY | — | — | +23% | +36% | +7% | +13% | +10% | +3% | +27% | +10% | +28% | +32% |
| EBITDA margin | 11.8% | 13.7% | 11.2% | 13.1% | 10.8% | 9.9% | 11.7% | 37.8% | 11.1% | 10.7% | 40.7% | 38.0% |
| Other income, % of PBT | 6% | 11% | 14% | 9% | 8% | 16% | 12% | 1% | 5% | 6% | 0% | 2% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 28% | 20% | 27% | 28% | 30% | 35% | 28% | 26% | 27% | 27% | 25% | 26% |
| Net profit | ₹760 cr | ₹1,288 cr | ₹779 cr | ₹1,021 cr | ₹724 cr | ₹886 cr | ₹854 cr | ₹961 cr | ₹966 cr | ₹1,047 cr | ₹1,224 cr | ₹1,353 cr |
| YoY | — | — | +17% | +41% | −5% | −31% | +10% | −6% | +33% | +18% | +43% | +41% |
| Core profit YoY | — | — | +9% | +38% | −5% | −20% | +14% | −1% | +32% | +18% | +57% | +40% |
| EPS | ₹2.83 | ₹4.79 | ₹2.92 | ₹3.84 | ₹2.72 | ₹3.32 | ₹3.21 | ₹3.57 | ₹3.61 | ₹3.86 | ₹4.46 | ₹4.71 |
| Flags | · | · | ✓ | ✓ | ✓ | 1 | ✓ | ✓ | ✓ | ✓ | ✓ | 2 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Aditya Birla Capital Ltd. reported revenue of ₹12,180 cr (+28.2% on the year) and net profit of ₹1,224 cr (+43.3% on the year) for April to June 2026.
Profit before other income, exceptional items and tax moved +56.6% on the year, against +43.3% for reported profit.
None of the 7 checks that could run raised a question.
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