
Aditya Birla Capital continues to deliver robust growth across lending, AMC, and insurance verticals, supported by stable asset quality and rising operating leverage. The lending business remains robust, with calibrated expansion in unsecured loans
For Aditya Birla Sun Life AMC Ltd, we expect 12-15% YoY growth in AUM in FY25E & FY26E and for Life insurance business, we expect top-line growth at 20%+ CAGR over the next 2 years along with steady VNB margin at 17%-18%. We maintain a buy rating on the company. We value the stock at Rs 280 on a SOTP basis. We have valued the NBFC at 2.0x of its FY26E BV, HFC at 1.8x of its FY26E BV, AMC business at 20x FY26E EPS, ABSLIC at 1.8x of FY24 EV, health insurance is valued based on recent deal value and other companies at 1x current Market cap
EvoLve theme by Theme4Press • Powered by WordPress & Rakesh Jhunjhunwala Rakesh Jhunjhunwala
Fan Site: Inspired, Not Endorsed, By Rakesh Jhunjhunwala
Recent Comments