Q4 2024 Aditya Birla Capital Ltd Earnings Call Transcript
Key Points
- Aditya Birla Capital Ltd (BOM:540691) reported a 41% year-on-year growth in consolidated profit after tax, excluding exceptional items, reaching INR 29.02 crore in FY24.
- The company's NBFC portfolio grew by 31% year-on-year and 7% sequentially, crossing the INR 1 lakh crore milestone during Q4 FY24.
- Mutual fund average AUM increased by 21% to INR 3.3 billion in Q4 FY24.
- The total premiums in life and health insurance grew by 18% year-on-year.
- Aditya Birla Capital Ltd (BOM:540691) launched the ABCD app, which offers a comprehensive portfolio of more than 20 products and services, and has seen over 1 lakh registrations to date.
- The gross Stage 2 and Stage 3 ratio of the NBFC portfolio declined by only 135 basis points year-on-year and 36 basis points sequentially to 4.49%, indicating some lingering asset quality issues.
- Total credit losses in the NBFC business were 1.43% in Q4 FY24, which is within guidance but still a notable figure.
- The combined ratio in the health insurance business was 110% in FY24, indicating that claims and expenses exceeded premiums collected.
- The net VNB margin in the life insurance business declined to 20.2% in FY24 from 23% in the previous year, partly due to a higher proportion of ULIPs and lower G-sec rates.
- The personal and consumer loan book saw a decline of 11% quarter-on-quarter, reflecting a strategic dial-down on small-ticket unsecured loans.
Ladies and gentlemen, good day, and welcome to the Q4 FY24 earnings conference call of Aditya Birla Capital Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Vishakha Mulye, CEO , Aditya Birla Capital Limited.
Thank you. And over to you.
Thank you so much. Good evening everyone, and welcome to the earnings call of Aditya Birla Capital for Q4 FY2024. For joining me today are senior members of my team Bala, Rakesh, Tushar, Pankaj, Kamlesh, Mayank, Pinky, Vijay, Ramesh, and Sanchita. I will cover our strategy and growth across businesses and Vijay will cover the financial highlights, followed by the discussion on the performance of our key businesses by our business fields.
India economic continues to remain resilient, even as overall global outlook is challenging, but continuing geopolitical conflict discrepancies and trade routes and high public debt burden. The real GDP growth rate of 8.4% in Q3 2024.
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