56
Stock Code: BSE : 500303 NSE : ABIRLANUVO Reuters : ABRL.BO / ABRL.NS / IRYN.LU Bloomberg : ABNL IN / IRIG LX
Sto
ck
Co
de
: B
SE
: 5
00
30
3 N
SE
: A
BIR
LA
NU
VO
R
eu
ters
: A
BR
L.B
O / A
BR
L.N
S / I
RY
N.L
U B
loo
mb
erg
:A
BN
L IN
/ I
RIG
LX
2
Key H
igh
lig
hts
3 –
8
Bu
sin
ess
-wis
e P
erf
orm
an
ce
9 –
21
Go
ing
Fo
rward
22
Fin
an
cia
ls a
nd
oth
er
An
nexu
re2
3 –
44
Co
nte
nts
No
te1
:T
he
fin
an
cia
lre
sults
ofA
BN
La
reco
nso
lidate
dfin
an
cia
lsu
nle
ss
oth
erw
ise
sp
ecifie
d
No
te2
:T
he
fin
an
cia
lfig
ure
sin
this
pre
se
nta
tio
nh
ave
been
roun
de
do
ffto
the
nea
rest`
1C
rore
No
te3
:1
US
D:IN
R60
Glo
ss
ary
CY
: C
urr
en
t Y
ea
r
FY
: F
ina
ncia
l Ye
ar
(Ap
ril-M
arc
h)
PY
–C
orr
esp
on
din
g p
erio
d in
Pre
viou
s F
ina
ncia
l Ye
ar
PQ
–P
revi
ou
s Q
ua
rter
Q3
–O
cto
be
r to
De
ce
mb
er
Q4
–Ja
nu
ary
to
Marc
h
YT
D : Y
ea
r to
da
te
RO
AC
E : R
etu
rn o
n A
vg.
Op
era
tin
g C
ap
ita
l Em
plo
yed
ba
se
d o
n E
BIT
VA
S –
Va
lue
Ad
de
d S
erv
ices
EB
O –
Exc
lusiv
e B
ran
d O
utle
t
MB
O –
Mu
lti B
ran
d O
utle
t
TP
A –
To
ns p
er
an
nu
m
AA
UM
–A
vera
ge
Asse
ts u
nd
er
Ma
na
ge
me
nt
SB
A : S
pe
cia
l Ba
nkin
g A
rra
nge
me
nt
3
Ind
ian
Ec
on
om
y
Ind
ia’s
GD
P g
row
th s
lip
pe
d t
o t
he
de
ca
de
’s lo
w o
f 4
.4%
in
CY
20
13
Infl
ati
on
an
d in
tere
st
rate
s r
em
ain
ed
at
hig
h le
ve
ls,
ha
mp
eri
ng
de
ma
nd
an
d i
nve
stm
en
ts
While
WP
I in
fla
tio
n m
od
era
ted
to
5.2
% in
Ap
r’1
4, C
PI in
fla
tio
n r
em
ain
ed
hig
h a
t 8
.6%
RB
I h
ike
d r
ep
o r
ate
by
75
bp
s d
uri
ng
pa
st fe
w m
on
ths to
co
nta
in in
fla
tio
n
Ind
ia h
as
ta
ke
n s
ub
sta
nti
ve
me
as
ure
s t
o n
arr
ow
fis
ca
l im
bala
nc
es
, ti
gh
ten
mo
ne
tary
po
lic
y,
mo
ve
forw
ard
on
str
uc
tura
l re
form
s, a
nd
ad
dre
ss
ma
rke
t vo
lati
lity
.
Pic
k-u
p in
exp
ort
s in
re
ce
nt m
on
ths &
me
asu
res to
cu
rb g
old
imp
ort
s h
ave
co
ntr
ibu
ted
to
low
eri
ng
th
e C
AD
.
Go
ing
fo
rwa
rd, In
dia
’s G
DP
gro
wth
is
ex
pe
cte
d t
o im
pro
ve
to
5.4
% i
n C
Y 2
01
4 (
So
urc
e :
IM
F)
A s
tab
le g
ove
rnm
en
t, s
tro
ng
glo
ba
l gro
wth
, im
pro
vin
g e
xpo
rt c
om
pe
titive
ne
ss a
nd
imp
lem
en
tatio
n o
f
rece
ntly
ap
pro
ved
inve
stm
en
t p
roje
cts
are
exp
ecte
d to
be
th
e k
ey
co
ntr
ibu
tin
g fa
cto
rs
44
Fa
sh
ion
& L
ife
sty
le
Fin
an
cia
lS
ervic
es
Ke
y H
igh
lig
hts
Note
1 :
Inclu
des A
UM
of
Life I
nsura
nce,
Priva
te E
quity
and q
uart
erly
AA
UM
of
Asset M
anagem
ent
busin
ess
Ma
rket
Po
sit
ion
ing
Am
on
g th
eto
p 5
fun
d
ma
na
gers
in In
dia
AU
M S
ize
Ma
na
gin
g fu
nd
s1
wo
rth
US
D 2
0.4
bill
ion
(14%
y-o
-y g
row
th)
Le
nd
ing
Bo
ok
~ U
SD
2b
illio
n
(44%
y-o
-y g
row
th)
Re
ve
nu
e
US
D 1
.1b
illio
n
(` 6
,640 C
r.)
EB
T
US
D 1
24
mill
ion
(` 7
45 C
r.)
RO
AC
E
25
% p
.a.
Ma
rket
Po
sit
ion
ing
One o
fth
e la
rgest
bra
nded
appare
l pla
yers
in India
Siz
e
Se
lling tw
o b
ran
de
d
ap
pa
rels
eve
ry s
eco
nd
Na
tio
nw
ide
Re
ac
h
1,7
50
EB
Os / S
tore
s
(4.3
mill
ion s
q.
ft.)
Re
ve
nu
e
US
D1
bill
ion
(` 6
,048 C
r.)
EB
ITD
A
~U
SD
10
0m
illio
n
(` 5
73 C
r.)
RO
AC
E
28
% p
.a.
Str
en
gth
en
ing
le
ad
ers
hip
po
sit
ion
ac
ross b
usin
esse
s
5
Ma
nu
fac
turi
ng
(A
gri
, R
ayon,
Insula
tors
)
Te
lec
om
Str
en
gth
en
ing
le
ad
ers
hip
po
sit
ion
ac
ross b
usin
esse
s
Ma
rket
Po
sit
ion
ing
7th
larg
est1
in t
he
wo
rld
3rd
larg
est2
in In
dia
Ou
tperf
orm
ing
In
du
str
y
Big
ge
st
reve
nu
e m
ark
et
sh
are
ga
ine
r in
In
dia
sin
ce
pa
st 5
ye
ars
Str
on
g B
ala
nc
e s
he
et
Net D
eb
t to
EB
ITD
A : 2
.6x
(Sta
nd
alo
ne
)
Re
ve
nu
e
US
D 4
.4b
illio
n
(` 2
6,4
32 C
r.)
EB
ITD
A
US
D1
.4b
illio
n
(` 8
,560 C
r.)
RO
AC
E
12
% p
.a.
(PY
: 1
0%
p.a
.)
Note
1 :
In t
erm
s o
f subscrib
ers
and b
ased o
n o
pera
tio
ns in
a s
ingle
countr
y (
Sourc
e :
WC
IS, D
ec’1
3)
N
ote
2: In
term
s o
f re
venue m
ark
et share
(S
ourc
e :
TR
AI)
Ke
y H
igh
lig
hts
Ma
rket
Po
sit
ion
ing
Lead
ing
manufa
cture
r of
Ure
a, V
FY
& Insu
lato
rs in
India
Ex
pa
ns
ion
& D
eb
ott
len
ec
kin
g(C
om
ple
te b
enefit to
accru
e in
FY
15)
Ra
yo
n :
Ne
w S
up
erf
ine u
nit r
un
nin
g a
t fu
ll ca
pa
city.
Ag
ri :
En
erg
y S
avi
ngs &
de
bo
ttle
neckin
g p
roje
ct co
mp
lete
d.
Re
ve
nu
e
~U
SD
61
5 m
illio
n
(` 3
,678 C
r.)
EB
ITD
A
US
D6
4m
illio
n
(` 3
83 C
r.)
RO
AC
E
10
% p
.a.
(PY
:15
%)
(Im
pacte
d b
y 4
1 d
ays s
hutd
ow
n in
Agri b
usin
ess)
6
Ca
rbo
n B
lack
IT-I
Te
S
Infu
sio
n b
y p
rom
ote
rs
` 6
71
Cr.
(On
co
nve
rsio
n o
f w
arr
an
ts)
Div
ide
nd
/ B
uyb
ac
k
` 3
20
Cr.
(fro
m B
irla
Su
n L
ife
In
su
ran
ce
& I
de
a)
Re
lea
se
of
NW
C(e
xcl. o
n a
ccount
of
carb
on b
lack d
ivestm
ent)
~` 2
75
Cr.
(le
d b
y d
isco
ntin
ua
nce
of tr
ad
ing
in
imp
ort
ed
P&
K f
ert
ilise
rs)
Ex
it f
rom
su
b s
ca
le b
usin
esse
s t
o e
nsu
re g
reate
r fo
cu
s o
n o
the
r b
usin
esse
s
Eff
ec
tive
Da
te
1stA
pri
l 2
01
3
En
terp
ris
e V
alu
e
~U
SD
24
0m
illio
n1
Ou
tco
me
Pro
ce
ed
s to
su
pp
ort
gro
wth
pla
ns
of A
BN
L
Str
en
gth
enin
gth
e
ba
lan
ce
sh
ee
t o
f A
BN
L
Gre
ate
r fo
cu
so
n c
ore
bu
sin
esses
Eff
ec
tive
Da
te
9th
Ma
y 2
01
4
En
terp
ris
e V
alu
e
US
D2
60
mill
ion
1
Note
1 :
Subje
ct
to w
ork
ing c
apital a
dju
stm
ents
etc
.
Ke
y H
igh
lig
hts
Ca
pit
al
Infu
sio
n,
div
iden
d &
wo
rkin
g c
ap
ital
rati
on
ali
sa
tio
na
lso
su
pp
ort
ed
AB
NL’s
gro
wth
pla
ns
Ca
pit
al O
utl
ay i
n F
Y1
4
~` 2
,50
0C
r.
(In
ve
stm
en
t &
Cap
ex)
7
Co
nsoli
date
d e
arn
ing
s g
row
th
Re
ve
nu
e
( `
Cro
re)
6,9
96
25,4
90
7,1
12
25,8
93
FY
13
F
Y1
4
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
2%
2%
EB
ITD
A
( `
Cro
re)
1,0
53
4,1
42
1,2
63
4,9
37
FY
13
F
Y1
4
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
19%
20%
Net
Pro
fit
( `
Cro
re)
199
1,0
59
283
1,2
26
FY
13
F
Y1
4
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
16%
42%
NNNNNe
t P
( `
Cr
Ad
juste
d N
et
Pro
fit b
efo
re
exc
ep
tio
na
l ga
in/(
loss)
an
d o
ne
-
tim
e in
tere
st co
st o
f ` 8
8 C
r.
ch
arg
ed
to
Con
so
lida
ted
P&
L in
Q4
FY
14
on
re
de
mp
tio
n o
f C
CD
s
by
Min
acs o
win
g t
o it
s d
ive
stm
en
t
Ex-
Ca
rbo
n B
lack (
div
este
d
w.e
.f1
stA
pr’
13
), q
ua
rte
rly a
nd
an
nu
al r
eve
nu
e g
row
th is 1
0%
.
8
Sta
nd
alo
ne
Ba
lan
ce
Sh
ee
t
Exc
lud
ing
MT
M g
ain
of ` 2
2 C
r. a
s o
n 3
1stM
ar’
13
, ` 4
Cr.
as o
n 3
1stM
ar’
’14
an
d M
TM
lo
ss o
f `
10
4 C
r. a
s o
n 3
1stM
ar’
12
w.r
.t.
fully
he
dg
ed
fo
reig
n c
urr
en
cy
wo
rkin
g c
ap
ita
l bo
rro
win
gs
3.6
3.3
2.6
0.6
6
0.5
3
0.3
9
Ma
r'1
2M
ar'1
3M
ar'1
4
Net D
ebt
/ a
nnualis
ed E
BIT
DA
Net D
ebt
/ E
quity
Ra
tio
s
Ne
t D
eb
t to
EB
ITD
A i
mp
rove
d t
o 2
.6 t
ime
s a
nd
Net
De
bt
to E
qu
ity i
mp
rove
d t
o 0
.4 t
ime
s
Ba
lan
ce
sh
ee
t s
up
po
rte
d c
ap
ita
l o
utl
ay o
f ~
` 2
,50
0 C
r. i
n F
Y1
4 a
nd
re
du
cti
on
in
Ne
t d
eb
t b
y ~
` 4
50
Cr.
Cap
ita
l in
fusio
n a
nd
div
ide
nd
/ b
uyb
ack in
co
me
su
pp
ort
ed
gro
wth
pla
ns
Slu
mp
sa
le o
f C
arb
on
Bla
ck b
usin
ess a
nd
de
cre
ase
in o
uts
tan
din
g s
ub
sid
y &
re
ce
iva
ble
s in
Ag
ri b
usin
ess
(fro
m `
1,6
32
Cr.
in
Ma
r’1
3 to
` 1
,17
6 C
r. in M
ar’1
4)a
lso
co
ntr
ibu
ted
Net D
eb
t in
clu
de
s lo
an
of `
32
3 C
r. u
nd
er
Sp
ecia
l B
an
kin
g A
rra
ng
em
en
t (a
t su
bsid
ize
d r
ate
)
Ca
sh
flo
w f
rom
th
e d
ive
stm
en
t o
f M
inac
s w
ill fu
rth
er
su
pp
ort
th
e g
row
th p
lan
s o
f A
BN
L
Ne
t D
eb
t
37
50
36
51
32
00
Ma
r'1
2M
ar'1
3M
ar'1
4
( `
Cro
re)
8.4
%9.1
%
15.1
%
17.1
%
FY
13
FY
14
RO
AC
ER
OA
CE
(E
xcl. L
ong T
erm
Inve
stm
ents
^)
RO
AC
E
Exc
lud
ing
MT
M g
ain
of ` 2
2 C
r. a
s o
n 3
1M
ar’
13
, ` 4
Cr.
as o
n 3
1M
ar’
’14
an
d M
TM
lo
ss o
f `
10
4 C
r. a
s o
n 3
1M
ar’
12
w.r
.t.
fully
he
dg
ed
fo
reig
n c
urr
en
cy
wo
rkin
g c
ap
ita
l bo
rro
win
gs
^(E
BIT
le
ss d
ivid
en
d in
co
me
) / (A
vera
ge
Ca
pita
l Em
plo
yed
less lo
ng
te
rm in
vestm
en
ts)
9
Ad
itya
Bir
la F
ina
nc
ial
Se
rvic
es
Pe
rfo
rm
an
ce
hig
hli
gh
ts : 2
01
3-1
4
10
AB
FS
is a
la
rge
pla
yer
in th
e n
on
-ba
nkin
g fin
an
cia
l se
rvic
es s
pa
ce
ha
vin
g p
rese
nce
in s
eve
ral ve
rtic
als
Am
on
g th
e to
p 5
fu
nd
ma
na
ge
rs in
In
dia
(exc
l. L
IC)
Fu
nd
s u
nd
er
ma
na
ge
me
nt a
t `
12
2,3
62
Cr.
gre
w y
-o-y
by
14
%
Na
tio
n-w
ide
pre
se
nce
th
rou
gh
ab
ou
t 1
,50
0 b
ran
ch
es / p
oin
ts o
f
pre
se
nce
& a
rou
nd
13
0,0
00
ag
en
ts / c
ha
nn
el p
art
ne
rs
Att
ain
ed
gro
wth
in m
ost o
f th
e b
usin
esse
s, e
xce
pt
Life
In
su
ran
ce
bu
sin
ess, w
hic
h r
em
ain
ed
imp
acte
d.
Ad
itya
Bir
la F
ina
nc
ial
Se
rvic
es (
AB
FS
)
Note
1 : Inclu
des A
UM
of Life Insura
nce, P
riva
te E
quity
and q
uart
erly
AA
UM
of A
sset M
anagem
ent busin
ess
107,5
39
122,3
62
Ma
r'1
3M
ar'1
4
Fu
nd
s u
nd
er
Ma
na
ge
me
nt1
( `
Cro
re)
83
,45
1
96
,42
9
As
se
t M
an
ag
em
en
t
(Ave
rag
e A
UM
-` C
rore
)
16%
Q4
FY
13 Q
4F
Y1
4
1,0
48
87
9
Lif
e In
su
ran
ce
(In
div
idua
l N
ew
Bu
sin
ess P
rem
ium
)
16%
FY
13 F
Y1
4
(` C
rore
)
8,0
00
11
,55
0
NB
FC
(Len
din
g B
ook -
` C
rore
)
44%
Ma
r’13
M
ar’14
~
~
14%
11
Ad
itya
Bir
la F
ina
nc
ial
Se
rvic
es (
AB
FS
)
NB
FC
Le
nd
ing
bo
ok
gro
wth
co
nti
nu
es
wh
ile k
ee
pin
g r
isk
un
de
r c
on
tro
l
Lo
an
bo
ok g
rew
y-o
-y b
y 4
4%
to
~` 1
1,5
50
Cr.
as o
n 3
1stM
ar’
14
As o
n 3
1stM
ar’
14
, G
ross N
PA
wa
s 1
.3%
(P
Y :
1.2
%) a
nd
Net N
PA
wa
s 0
.6%
(PY
: 0
.8%
)
Sh
are
ca
pita
l of ` 5
25
Cr.
wa
s in
fuse
d d
uri
ng
th
e y
ea
r to
su
pp
ort
its g
row
th
Ne
t w
ort
h e
xpa
nd
ed
y-o
-y b
y 6
4%
fro
m `
1,0
79
Cr.
to
` 1
,76
9 C
r.
Lif
e In
su
ran
ce
Bir
la S
un
Lif
e In
su
ran
ce
(B
SL
I) h
as
str
en
gth
en
ed
its
pro
du
ct
su
ite
: T
rad
itio
na
l pro
du
cts
co
ntr
ibu
ted
to
60
%
(PY
:56%
) o
f th
e in
div
idu
al n
ew
bu
sin
ess d
uri
ng
th
e y
ea
r
BS
LI’
s n
ew
bu
sin
es
s p
rem
ium
ma
rke
t s
ha
re in
Q4F
Y1
4 im
pro
ve
d y
-o-y
fro
m 7
.9%
to
9.4
% (
am
ong p
riva
te p
laye
rs)
led
by
str
on
g g
row
th in
th
e g
rou
p b
usin
ess. B
SL
I ra
nke
d #
1 p
riva
te li
fe in
su
rer
in te
rms o
f g
rou
p b
usin
ess.
BS
LI re
turn
ed
su
rplu
s f
un
ds
to
th
e t
un
e o
f ~` 4
00
Cr.
to
th
e s
ha
reh
old
ers
du
rin
g t
he
ye
ar
AB
NL
re
ce
ive
d `
29
5 C
r. fro
m B
SL
I to
wa
rds d
ivid
en
d a
nd
bu
y-b
ack p
roce
ed
s
As
se
t M
an
ag
em
en
t
AU
M c
rosse
d `
10
0,0
00
Cr.
ma
rk in
Ma
y’1
4
Re
co
rde
d h
ea
lth
y ri
se
in e
arn
ing
s d
rive
n b
y A
AU
M g
row
th
Po
ste
d s
tro
ng
fu
nd
pe
rfo
rma
nce
in d
eb
t/liq
uid
as w
ell
eq
uity
asse
t cla
ss
12
Q4
re
ve
nu
e g
rew
y-o
-y b
y 1
2%
to
` 2
,27
2 C
r. &
EB
T b
y 1
6%
to
` 1
74
Cr.
Alm
ost a
ll th
e b
usin
esse
s c
on
trib
ute
d to
th
e g
row
th
An
nu
al
reve
nu
e g
rew
y-o
-y b
y 4
% t
o `
6,6
40
Cr.
Re
ven
ue
of N
BF
C a
nd
Asse
t M
an
ag
em
en
t b
usin
esse
s r
ose
by
69
% a
nd
24
% r
esp
ective
ly.
Life
In
su
ran
ce
witn
esse
d d
e-g
row
th in
pre
miu
m in
co
me
EB
T d
e-g
rew
ma
rgin
all
y t
o `
74
5 C
r.m
ain
ly d
ue
to
low
er
pro
fita
bili
ty in
Life
In
su
ran
ce
eve
n a
s N
BF
C &
Asse
t M
an
ag
em
en
t p
oste
d s
tro
ng
gro
wth
.
Ge
ne
rate
d R
OA
CE
at
25
% p
.a.
Ad
itya
Bir
la F
ina
nc
ial
Se
rvic
es (
AB
FS
)
Reve
nu
e(`
Cro
re)
FY
13
FY
14
Ke
y B
us
ine
ss
es
EB
T(`
Cro
re)
FY
13
F
Y1
4
5,0
37
4,7
02
Life
Insu
ran
ce
54
23
71
71
31
,20
3N
BF
C1
47
25
1
40
55
02
Asse
tM
an
ag
em
en
t1
07
14
0
No
te 1
: Incl
udin
g full
figure
s of A
sset M
anagem
ent busi
ness
. T
ill 9
thO
ct’1
2, A
sset M
anagem
ent busin
ess h
as b
een p
roport
ionate
ly c
onsolid
ate
d @
50%
in A
BN
L’s
fin
ancia
ls, bein
g a
50:5
0 J
oin
t
Ventu
re, as
per
AS
27. T
here
after,
it is
conso
lidate
d a
s su
bsi
dia
ry s
ince
AB
FS
hold
s 51%
w.e
.f. 10
thO
ct’1
2.
2,0
32
6,3
78
2,2
72
6,6
40
FY
13
FY
14
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
Re
ve
nu
e
( `
Cro
re)
1
4%
12%
149
761
174
745
FY
13
FY
14
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
1
16%
2%
Ea
rnin
gs
be
fore
Ta
x
(befo
re e
xceptio
nal g
ain
/loss)
( `
Cro
re)
13
Fa
sh
ion
& L
ife
sty
le
Pe
rfo
rm
an
ce
hig
hli
gh
ts : 2
01
3-1
4
14
AB
NL
’s F
as
hio
n &
Lif
es
tyle
bu
sin
es
s c
on
tin
ue
s t
o e
xp
an
d its
re
tail
pre
se
nc
e
La
un
ch
ed
on
e s
tore
pe
r d
ay
to r
ea
ch
1,7
50
sto
res s
pa
nn
ing
acro
ss 4
.3 m
illio
n s
q. ft
.
Ne
t a
dd
itio
n o
f m
ore
th
an
30
0 s
tore
s (
Ove
r 0
.6 m
illio
n s
q. ft
.) d
uri
ng
th
e y
ea
r
Re
ve
nu
e c
ros
se
d `
6,0
00
Cr.
–G
rew
y-o
-y b
y 2
3%
.
EB
ITD
A r
ose
by
23
% f
rom
` 4
66
Cr.
to
` 5
73
Cr.
Ge
ne
rate
d 2
8%
p.a
. re
turn
on
ave
rag
e o
pe
rati
ng
ca
pit
al e
mp
loye
d
Fa
sh
ion
& L
ife
sty
le
Re
tail
EB
Os
/ S
tore
s
Re
tail
Sp
ac
e
(mn
sq
. ft
.)
Bu
sin
es
sR
eve
nu
e(`
Cro
re)
FY
13
FY
14
EB
ITD
A(`
Cro
re)
FY
13
F
Y1
4
1,5
41
2.2
Ma
du
ra2,5
23
3,2
26
245
38
8
10
72
.0P
an
talo
on
s1
1,2
85
1,6
61
67
39
10
20
.1Ja
ya S
hre
e1,1
44
1,3
00
154
17
2
1,7
50
4.3
To
tal
4,9
30
6,0
48
466
57
3
Ma
du
ra5
1%
Pa
nta
loo
ns
28
%
Ja
ya
sh
ree
21
%
Re
ve
nu
e m
ix (
FY
14
)
1,3
39
4,9
30
1,5
84
6,0
48
FY
13
FY
14
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
Re
ve
nu
e
( `
Cro
re)
1
18%
23%
126
466
155
573
FY
13
FY
14
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
EB
ITD
A
( `
Cro
re)
1
23%
23%
1P
urs
ua
nt to
its
acq
uis
itio
n, P
an
talo
on
s b
usin
ess w
as c
on
so
lida
ted
w.e
.f.
1stJu
ly 2
01
2. H
en
ce
, p
revi
ou
s y
ea
r fin
an
cia
ls a
re n
ot co
mp
ara
ble
to
th
at e
xte
nt
15
Fa
sh
ion
& L
ife
sty
le
Ma
du
ra F
as
hio
n &
Lif
es
tyle
: P
os
ted
all
ro
un
d g
row
th
Reve
nue a
t ` 3
,226 C
r. r
ose y
-o-y
by
28%
drive
n b
y str
ong v
olu
me g
row
th a
cross
bra
nds
& p
roducts
Sa
les fro
m r
eta
il ch
an
ne
l gre
w b
y 2
7%
, le
d b
y sto
re e
xpa
nsio
n &
7%
lik
e-t
o-l
ike
(L
2L
) sto
res s
ale
s g
row
th
Lo
uis
Ph
ilip
pe
& V
an
He
use
n c
on
tin
ue
to
be
th
e b
est se
llin
g b
ran
ds in
In
dia
EB
ITD
A s
urg
ed
by
58
% to
` 3
88
Cr.
–E
BIT
DA
ma
rgin
of b
ran
ds s
eg
me
nt1
exp
an
de
d b
y 1
00
bp
s to
12
.5%
Ge
ne
rate
d fre
e c
ash
flo
ws o
f a
bo
ut ` 3
25
Cr.
du
rin
g th
e y
ea
r
RO
AC
E s
oa
red
y-o
-y f
rom
29
% p
.a. to
64
% p
.a.
Pa
nta
loo
ns
Fa
sh
ion
& R
eta
il L
td. :
In t
he
in
ve
stm
en
t p
ha
se
Post
ed r
eve
nue a
t ` 1
,661 C
r. a
nd E
BIT
DA
at ` 3
9 C
r.
L2L s
tore
s sa
les d
e-g
rew
by
1.6
% : M
erc
handis
e a
vaila
bili
ty iss
ue &
subdued c
onsu
mer
sentim
ents
impact
ed
Gro
ss m
arg
in im
pro
ved y
-o-y
by
~300 b
ps.
How
eve
r, b
ottom
-lin
e w
as
str
ain
ed, re
flect
ing full
impact
of
org
anis
atio
nbuild
ing c
ost
s co
mpare
d to a
lloca
tion o
f co
sts
till l
ast
year
Impro
ving m
erc
handis
e a
ssort
ment, s
trength
enin
g b
rand p
ort
folio
, exp
andin
g r
eta
il pre
sence a
nd r
efu
rbis
hin
g
of ke
y sto
res
will
contin
ue to b
e the k
ey
focu
s are
as
goin
g forw
ard
.
Ja
ya
Sh
ree
: C
ap
ac
ity e
xp
an
sio
n t
o t
ap
se
cto
r g
row
th a
nd
str
en
gth
en
ma
rke
t le
ad
ers
hip
Lin
en Y
arn
& L
inen F
abric
pro
cess
ing c
apaci
ties
exp
anded b
y ~
50%
to 3
,400 T
PA
&
10.1
mill
ion m
ete
rs p
.a.
Post
ed it
s h
ighest
eve
r earn
ings le
d b
y e
xpansi
on. F
ull
benefit
will
acc
rue in
FY
15
Opera
ting a
t a s
ound R
OA
CE
of 57%
1B
ran
ds s
eg
me
nt =
Lo
uis
Ph
ilip
pe
, V
an
He
use
n, A
llen
So
lly, P
ete
r E
ng
lan
d, P
lan
et F
ash
ion
, P
eo
ple
an
d C
olle
ctive
16
Te
lec
om
Pe
rfo
rm
an
ce
hig
hli
gh
ts : 2
01
3-1
4
17
Ro
bu
st
pe
rfo
rma
nc
e a
cro
ss
ke
y m
etr
ics
dro
ve
ea
rnin
gs
gro
wth
Re
ve
nu
e g
rew
at
ne
arl
y d
ou
ble
th
e w
ire
les
s in
du
str
y g
row
th r
ate
, E
BIT
DA
su
rge
d b
y 4
1%
an
d E
BIT
DA
ma
rgin
ex
pa
nd
ed
by ~
50
0 b
ps
Str
on
g f
ree
ca
sh
flo
ws
su
pp
ort
ing
sta
nd
alo
ne
2b
ala
nc
e s
he
et&
gro
wth
pla
ns
Incu
rre
d c
ap
ex
of ` 3
5.3
bill
ion
& s
pe
ctr
um
acq
uis
itio
n c
ost o
f ` 1
04
.2 b
illio
n
Ba
lan
ce
sh
ee
t re
ma
ine
d s
tro
ng
with
Ne
t d
eb
t to
EB
ITD
A a
t 2
.6x
Su
pp
ort
ed
by
ca
sh
pro
fitg
en
era
tio
n o
f ` 6
4.4
bill
ion
(37%
y-o
-y g
row
th)
RO
AC
E g
rew
to
12
% p
.a.
(PY
: 1
0%
) o
n e
xpa
nd
ed
ca
pita
l em
plo
yed
(p
ost sp
ectr
um
acq
uis
itio
n)
Pro
po
se
d d
ivid
en
d a
t 4
% o
f sh
are
ca
pita
l en
taili
ng
ou
tla
y o
f ` 1
55
.4 C
r. in
cl. D
DT
FY
13
(PY
)F
Y1
4(C
Y)
Δ%
Min
ute
s o
fU
se
(b
illio
n)
53
25
88
+10.5
%
Ave
rag
e R
ea
lisa
tio
np
er
min
ute
(`)
0.4
12
0.4
42
+ 7
.3%
Co
st p
er
min
ute
2(`
)0
.32
40
.32
5+
0.5
%
Da
ta V
olu
me
(b
illio
nM
eg
a B
yte
s)
37
.47
9.4
+112.4
%
Ne
t P
rofit (`
Cro
re)
1,0
111
,96
8+
94.7
%
Te
lec
om
: I
de
a C
ell
ula
r
13.3
%14.4
%14.8
%16.1
%
Q3F
Y11
Q3F
Y12
Q3F
Y13
Q3F
Y14
Re
ve
nu
e M
ark
et
Sh
are
1
1B
ased o
n g
ross r
eve
nue f
or
UA
S &
Mobile
lic
enses o
nly
, as r
ele
ased b
y T
RA
I2S
tandalo
ne =
Idea a
nd its
100%
subsid
iaries
6,0
27
22,4
07
6,9
75
26,4
32
FY
13
FY
14
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
Co
ns
oli
da
ted
Re
ve
nu
e
( `
Cro
re)
16%
18%
1,7
10
6,0
91
2,2
75
8,5
60
FY
13
FY
14
Fu
ll Y
ea
rF
Y1
3
FY
14
Q4
Co
ns
oli
da
ted
EB
ITD
A
( `
Cro
re)
33%
41%
18
IT-I
Te
S
Pe
rfo
rm
an
ce
hig
hli
gh
ts : 2
01
3-1
4
19
IT-I
TeS
: A
dit
ya B
irla
Min
ac
s
AB
NL
IT
& IT
ES
Ltd
., a
wh
olly
ow
ne
d s
ub
sid
iary
of A
BN
L, d
ive
ste
d
Min
acs w
.e.f
. 9
thM
ay’1
4 a
t a
n E
nte
rprise
Va
lue
of U
SD
26
0 m
illio
n,
su
bje
ct to
wo
rkin
g c
ap
ita
l & o
the
r a
dju
stm
en
ts
Th
e d
ive
stm
en
t p
roce
ed
s w
ill s
up
po
rt th
e g
row
th p
lan
s o
f A
BN
L &
en
su
re it
s g
rea
ter
focu
s in
its c
ore
bu
sin
esse
s.
Div
estm
en
t p
roce
ed
s to
th
e tu
ne
of ~
` 4
00
Cr.
(ne
t o
f d
eb
t re
pa
yme
nt)
rece
ive
d till
da
te
Fu
rth
er,
a s
um
of ~
US
D 1
5 m
illio
n is
re
ce
iva
ble
in F
Y1
5 (
sub
ject to
wo
rkin
g c
ap
ita
l ch
an
ge
s)
De
ferr
ed
gra
nt o
f ~
US
D 7
mill
ion
is r
ece
iva
ble
ove
r n
ext
3 y
ea
rs
and w
ill b
e a
ccounte
d for
on a
ctu
al r
eceip
t
2,4
66
2,8
98
FY
13
F
Y1
4
Re
ve
nu
e
18%
251
284
EB
ITD
A
13%
FY
13
F
Y1
4
Ad
itya B
irla
Min
acs
(Fin
an
cia
l in
` C
rore
)
To s
upport
the b
ala
nce s
heet of M
inacs, a s
um
of `
250 C
rore
was r
ais
ed thro
ugh C
CD
s in J
an’2
010. O
win
g to the
div
estm
en
t o
f M
ina
cs, C
CD
s h
ave
be
en
re
de
em
ed
alo
ng
with
ne
t re
de
mp
tio
n in
tere
st o
utg
o (
sin
ce
Ja
n’2
01
0)
of ` 8
8
Cro
re. T
his
on
e-t
ime
inte
rest ch
arg
e h
as b
ee
n r
eco
gn
ize
d in
co
nso
lida
ted P
&L in
Q4
FY
14
.
20
Ma
nu
fac
turi
ng
Pe
rfo
rm
an
ce
hig
hli
gh
ts : 2
01
3-1
4
21
Y-o
-Y p
erf
orm
an
ce
re
vie
w :
Ag
ri :
Ure
a p
lan
t re
su
me
d fu
ll o
pe
ratio
ns o
n 8
thA
pr’
14
. B
en
efit o
f h
igh
er
fixe
d c
ost re
imb
urs
em
en
t a
s p
er
Go
vern
me
nt p
olic
y a
nd
en
erg
y sa
vin
gs p
roje
ct w
ill a
ccru
e in
FY
15
Ra
yo
n :
Re
co
rde
d it
s h
igh
est e
ver
ea
rnin
gs. N
ew
su
pe
rfin
e u
nit a
tta
ine
d fu
ll ca
pa
city
utilis
atio
nin
Q4
FY
14
.
Ho
we
ver,
co
mp
lete
be
ne
fit w
ill a
ccru
e in
FY
15
Ins
ula
tors
: P
oste
d im
pro
ved
ea
rnin
gs
Ma
nu
fac
turi
ng
Bu
sin
esse
s (
Ag
ri, R
ayo
n &
In
su
lato
rs)
Re
ve
nu
e
FY
13
FY
14
(`C
rore
)E
BIT
DA
FY
13
FY
14
Re
ma
rks
2,9
24
2,3
13
Agri
197
77
Dis
co
ntin
uation
of tr
ad
ing
in im
po
rte
d P
&K
fe
rtili
se
rs, h
igh
en
erg
y co
sts
/ c
on
su
mp
tio
n a
nd
41
da
ys s
hu
tdo
wn
fo
r a
nn
ua
l
turn
aro
un
d
777
860
Rayo
n189
222
Hig
her
VF
Y a
nd E
CU
realis
atio
n
454
505
Insu
lato
rs61
83
Hig
he
r vo
lum
es, im
pro
ved
rea
lisa
tio
n a
nd
en
ha
nce
d y
ield
4,1
55
3,6
78
To
tal
446
383
22
Go
ing
Fo
rwa
rd
Fin
an
cia
l S
erv
ice
s
Gain
ing
ma
rke
t sh
are
in t
he
Lif
e In
su
ran
ce
bu
sin
ess th
rou
gh
go
od
qu
alit
y sa
les d
rive
n b
y a
n e
ffic
ien
t
dis
trib
utio
n n
etw
ork
with
acce
pta
ble
exp
en
se
le
vels
Gro
win
g p
rofita
ble
asse
ts w
hile
ma
inta
inin
g fu
nd
pe
rfo
rma
nce
in t
he
As
se
t M
an
ag
em
en
t b
usin
ess
Sca
ling
up
th
e b
oo
k s
ize
in th
e N
BF
C b
usin
ess w
hile
ke
ep
ing
ris
k u
nd
er
co
ntr
ol
Ca
pita
lisin
go
n b
ran
d !D
EA
, str
on
g c
ash
flo
ws a
nd
exp
an
din
g s
pe
ctr
um
pro
file
& in
fra
str
uctu
re in
th
e T
ele
co
m
bu
sin
ess to
ca
ptu
re th
e e
me
rgin
g V
oic
e &
Wir
ele
ss
Bro
ad
ba
nd
op
po
rtu
nitie
s
Fa
sh
ion
& L
ife
sty
le
Leve
ragin
g b
rand le
aders
hip
, sc
alin
g u
p r
eta
il sp
ace
& e
nrich
ing p
roduct
port
folio
in B
randed A
ppare
ls b
usi
ness
Full
util
izatio
n o
f exp
anded li
nen c
apaci
ty &
focu
sing o
n h
igh m
arg
in li
nen fabric
reta
il in
Text
iles
busi
ness
Ca
ptu
rin
g s
ecto
r g
row
th o
pp
ort
un
itie
s a
nd
imp
rovi
ng
ma
rgin
s in
th
e M
an
ufa
ctu
rin
gb
usin
esse
s
23
24
Co
nso
lid
ate
d R
eve
nu
e
*O
ther
Fin
ancia
l S
erv
ices in
clu
de A
sset M
anagem
ent
(pro
port
ionate
ly c
onsolid
ate
d a
t 50%
, bein
g a
50:5
0 J
V till
9th
Oct’12 a
nd t
here
after
conso
lidate
d a
s su
bsi
dia
ry s
ince
AB
FS
hold
s 51%
w.e
.f.
10
thO
ct’1
2),
NB
FC
, P
riva
te E
quity,
Bro
kin
g,
Wealth M
anagem
ent
& G
enera
l In
sura
nce A
dvi
sory
.
( `
Cro
re)
@ Id
ea is c
onsolid
ate
d a
t ~
25.3
%
^ A
ccounte
d f
or
slu
mp s
ale
of
Carb
on B
lack b
usin
ess w
.e.f
1stA
pri
l 2013
Qu
arte
r -
3
Reven
ue
20
13
-14
(PQ
)
20
12
-13
(PY
)
20
13
-14
(C
Y)
20
12
-13
(PY
)
20
13
-14
(C
Y)
1,4
76
2,0
32
2,2
72
Ad
itya B
irla
Fin
an
cia
l S
ervic
es
6,2
83
6,6
40
98
4
1,6
37
1,7
40
Life
In
su
ran
ce
5,0
37
4,7
02
49
4
39
9
53
3
Oth
er
Fin
an
cia
l S
erv
ice
s*
1,2
58
1,9
48
(2)
(5)
(1)
Elim
ination
(12
)
(11
)
1,6
70
1,5
16
1,7
52
Tele
co
m (
Nu
vo
's s
hare)
@5,6
62
6,6
69
1,5
58
1,3
39
1,5
84
Fash
ion
& L
ifesty
le4,9
30
6,0
48
1,2
32
1,0
62
1,2
43
Bra
nd
ed
Ap
pa
rels
& A
cce
sso
rie
s3
,80
2
4,7
59
33
1
28
3
34
5
Te
xtile
s1
,14
4
1,3
00
(5)
(5)
(4)
Elim
ination
(16
)
(11
)
742
614
724
IT
-IT
eS
2,4
66
2,8
98
1,1
09
974
789
M
an
ufa
ctu
rin
g4,1
55
3,6
78
75
4
65
1
40
8
Ag
ri-b
usin
ess
2,9
24
2,3
13
22
0
20
9
22
3
Ra
yo
n7
77
86
0
13
5
11
5
15
9
Insu
lato
rs
45
4
50
5
-
531
-
Carb
on
Bla
ck^
2,0
36
-
(9)
(10)
(9)
Inte
r-segm
ent
Elim
ination
(42)
(39)
6,5
45
6,9
96
7,1
12
Co
ns
olid
ate
d R
ev
en
ue
25,4
90
25,8
93
Fu
ll Y
ea
rQ
ua
rte
r 4
25
Co
nso
lid
ate
d E
BIT
*O
ther
Fin
ancia
l S
erv
ices in
clu
de A
sset M
anagem
ent
(pro
port
ionate
ly c
onsolid
ate
d a
t 50%
, bein
g a
50:5
0 J
V till
9th
Oct’12 &
there
after
conso
lidate
d a
s su
bsi
dia
ry s
ince
AB
FS
hold
s 51%
w.e
.f. 10
thO
ct’1
2),
NB
FC
, P
riva
te E
quity,
Bro
kin
g,
Wealth M
anagem
ent
& G
enera
l In
sura
nce A
dvi
sory
. In
tere
st
cost of
NB
FC
busin
ess,
bein
g a
n o
pera
ting e
xpense a
s p
er
AS
17,
is d
educte
d f
rom
Segm
enta
l E
BIT
( `
Cro
re)
@ Id
ea is c
onsolid
ate
d a
t ~
25.3
%
^ A
ccounte
d f
or
slu
mp s
ale
of
Carb
on B
lack b
usin
ess w
.e.f
1stA
pri
l 2013
Qu
art
er
- 3
E
BIT
20
13
-14
(PQ
)
20
12
-13
(PY
)
20
13
-14
(C
Y)
20
12
-13
(PY
)
20
13
-14
(C
Y)
179
140
170
A
dit
ya B
irla
Fin
an
cia
l S
erv
ices
706
725
80
89
80
Life
In
su
ran
ce
54
2
37
1
99
50
89
Oth
er
Fin
an
cia
l S
erv
ice
s*
16
5
35
4
225
192
274
T
ele
co
m (
Nu
vo
's s
hare
) @
639
962
139
75
73
Fash
ion
& L
ifesty
le299
341
98
45
36
Bra
nd
ed
Ap
pa
rels
& A
cce
sso
rie
s1
70
19
9
42
30
37
Te
xtile
s1
29
14
1
47
43
53
IT-I
TeS
164
181
92
57
37
Man
ufa
ctu
rin
g
369
289
31
18
(30
)
Ag
ri-b
usin
ess
17
7
56
44
35
45
Ra
yo
n1
53
17
2
18
4
23
Insu
lato
rs
39
61
-
20
-
C
arb
on
Bla
ck^
93
-
682
527
608
S
eg
men
tal
EB
IT2,2
70
2,4
98
Fu
ll Y
ea
rQ
ua
rte
r 4
26
Co
nso
lid
ate
d P
rofi
t &
Lo
ss
( `
Cro
re)
*
Exc
eptio
na
l g
ain
/ lo
ss inclu
de
s loss o
f ` 1
9 C
rore
on im
pairm
ent o
f g
ood
will
re
lating
to
inve
stm
ents
in b
rokin
g a
nd
we
alth
ma
na
ge
me
nt b
usin
esse
s
and
g
ain
of ` 2
4 C
r. o
n s
lum
p s
ale
of C
arb
on
Bla
ck b
usin
ess
Qu
art
er
- 3
2013-1
4 (
PQ
) 2
01
2-1
3
(PY
)
20
13
-14
(C
Y)
20
12
-13
(PY
)
20
13
-14
(C
Y)
6,5
45
6
,99
6
7,1
12
Reven
ue
25
,49
0
2
5,8
93
1,2
97
1
,05
3
1,2
63
EB
ITD
A4
,14
2
4,9
37
18
8
15
0
21
2
Less :
NB
FC
Inte
rest
expenses
45
6
74
2
16
8
23
4
26
0
Less :
Oth
er
Inte
rest
Expenses
86
5
82
0
94
1
66
9
79
2
EB
DT
2,8
21
3
,37
6
40
7
34
5
43
0
Less :
Depre
cia
tion
1,2
95
1
,60
9
53
4
32
4
36
2
Earn
ing
s b
efo
re T
ax (
befo
re e
xcep
tio
nal it
em
s)
1,5
26
1
,76
7
-
-
(19
)
E
xceptional G
ain
/ (
Loss)*
-
5
53
4
32
4
34
3
Earn
ing
s b
efo
re T
ax
1,5
26
1
,77
2
15
8
12
5
16
0
Less :
Pro
vis
ion f
or
Taxation (
Net)
*3
42
5
50
31
0
7
Less :
Min
ority
Inte
rest
12
5
79
34
5
19
9
17
6
Net
Pro
fit
1,0
59
1
,14
3
34
5
19
9
28
3
Ne
t P
ro
fit
[be
fore
exce
ptio
nal g
ain
/ (
loss)
and
one
-
tim
e C
CD
s inte
rest charg
e]
1,0
59
1
,22
6
Qu
art
er
4F
ull Y
ea
r C
on
so
lid
ate
d
Pro
fit
& L
os
s A
cc
ou
nt
27
6,854
8,108
Net W
orth
9,384
11,189
-
-
Min
ority In
terest
940
778
4,005
3,757
Debt
11,799
10,897
-
-
NB
FC
borrow
ings
6,867
9,647
155
88
Deferred T
ax Lia
bilitie
s (N
et)
428
504
11,014
11,953
Capital E
mplo
yed
29,419
33,016
-
-
Policyhold
ers' funds (In
cl. funds
for future appropria
tio
n)
21,576
23,557
11,014
11,953
Total Lia
bilitie
s50,995
56,573
2,206
1,845
Net B
lock
(In
cl. C
ap
ita
l A
dva
nce
s)
10,677
13,045
20
20
Goodw
ill
4,825
4,982
-
-
NB
FC
Lendin
g8,000
11,550
2,577
1,578
Net W
orkin
g C
apital
1,795
734
5,857
7,952
Long T
erm
In
vestm
ents
354
410
-
-
Life In
surance In
vestm
ents
22,929
24,764
-
-
Policyhold
ers' Investm
ents
21,559
23,435
-
-
Sharehold
ers' Investm
ents
1,371
1,329
353
557
Cash S
urplu
s &
C
urrent In
vestm
ents
2,415
1,089
570
623
Book V
alu
e (`)
781
860
3.3
2.6
Net D
ebt / E
BIT
DA
(x)
2.5
2.3
0.53
0.39
Net D
ebt / E
quity (x)
1.00
0.88
11,727
14,196
Market C
apitalisatio
n - N
SE
Mar-14
Co
nso
lid
ated
Mar-13
Mar-13
Mar-14
Stan
dalo
ne
Ba
la
nc
e S
he
et
Ba
lan
ce
Sh
ee
t( `
Cro
re)
27
Exclu
din
g M
TM
gain
of ` 2
2 C
r. a
s o
n 3
1stM
ar’13 a
nd `
4C
r. a
s o
n 3
1stM
ar’14 w
.r.t
. fu
lly h
edged fore
ign c
urr
ency
work
ing c
apita
l debt
Note
: 1
. S
tandalo
ne c
apex
of `
416 C
r. w
as incurr
ed in
FY
14.
Capex
guid
ance f
or
FY
15 s
tands a
t ~` 4
60 C
r.
2. In
vestm
ent of ~
` 3
50 C
r. is
pla
nned in
fin
ancia
l serv
ices b
usin
ess in
FY
15
28
Sta
nd
alo
ne
Pro
fit
& L
oss
( `
Cro
re)
Qu
art
er
- 3
Sta
nd
alo
ne
Pro
fit
& L
oss A
cco
un
t
2013-1
4
(PQ
)
2012-1
3
(PY
)
2013-1
4
(C
Y)
2012-1
3
(PY
)
2013-1
4
(C
Y)
2,2
20
2
,42
0
1,9
67
R
even
ue
9,7
54
8
,02
0
27
2
3
79
26
7
E
BIT
DA
1,1
16
1
,24
6
68
8
9
69
In
tere
st E
xpens
es
36
0
2
67
20
4
2
90
19
8
E
BD
T7
56
97
9
49
6
1
53
D
epre
ciatio
n2
19
19
9
15
5
2
29
14
5
E
arn
ing
s b
efo
re T
ax (
befo
re e
xcep
tio
nal it
em
s)
53
7
7
80
-
-
-
Exc
eptio
nal G
ain
/ (
Loss
)*-
2
4
15
5
2
29
14
5
E
arn
ing
s b
efo
re T
ax
53
7
8
04
52
4
6
47
P
rovi
sion
for
Taxa
tion
(Net)
*1
14
13
0
10
4
1
84
98
N
et
Pro
fit
42
3
6
74
Fu
ll Y
ear
Qu
art
er
4
* B
ook g
ain
of ` 2
4 C
r. a
nd
a n
et ta
x cre
dit o
f ` 4
1 C
r. h
as b
ee
n r
ecog
niz
ed in
Q1
FY
14 w
.r.t
. th
e s
lum
p s
ale
of C
arb
on
Bla
ck b
usin
ess
No
te : B
oard
of D
ire
cto
rs o
f A
BN
L h
as r
ecom
me
nd
ed
a d
ivid
en
d o
f 7
0%
(` 7
pe
r e
qu
ity
sh
are
) fo
r F
Y1
4 e
nta
ilin
g o
utg
o o
f ` 9
8 C
r. (
incl. D
DT
of ` 7
Cr.
)
29
30
Ad
itya
Bir
la F
ina
nc
ial S
erv
ice
s
No
te 2
: Incl
udin
g full
figure
s of A
sset M
anagem
ent busi
ness
. T
ill 9
thO
ct’1
2, A
sset M
anagem
ent busin
ess h
as b
een p
roport
ionate
ly c
onsolid
ate
d @
50%
in A
BN
L’s
financi
als
, bein
g a
50:5
0 Jo
int V
entu
re, as
per
AS
27. T
here
after,
it is
conso
lidate
d a
s su
bsi
dia
ry s
ince
AB
FS
hold
s 51%
w.e
.f. 10
thO
ct’1
2.
2012-1
3
(PY
)
2013-1
4
(C
Y)
2012-1
3
(PY
)
2013-1
4
(C
Y)
Re
ve
nu
e
1,6
37
1,7
40
Birla
Sun L
ife
Insura
nce
5,0
37
4,7
02
23
4
34
6
Ad
itya B
irla
Fin
ance
7
13
1,2
03
10
4
12
5
Birla
Sun L
ife
Asse
t M
anag
em
ent
40
5
50
2
12
18
Ad
itya B
irla
Insura
nce
Bro
ke
rs
57
82
20
20
Ad
itya B
irla
Mo
ne
y
84
75
24
19
Ad
itya B
irla
Mo
ne
y M
art
7
6
66
6
5
Ad
itya B
irla
Cap
ital A
dvis
ors
(P
E)
24
23
(6)
(2)
Oth
ers
/ (
Elim
inatio
n)
(18
)
(13
)
2,0
32
2,2
72
Re
ve
nu
e6
,37
8
6,6
40
14
9
17
4
Earn
ing
s b
efo
re tax
17
61
74
5
12
6
12
2
Ne
t P
rofi
t6
72
58
4
Qu
art
er
4
` C
rore
Fu
ll Y
ear
No
te 1
: B
efo
re e
xce
ptio
n lo
ss o
f ` 1
9 C
r. o
n a
cco
un
t o
f g
oo
dw
ill im
pa
irm
en
t in
Q4
FY
14
w.r
..t.
in
vestm
en
ts in
Ad
itya
Bir
la M
on
ey
an
d A
ditya
Bir
la M
on
ey
Ma
rt
31
Private
secto
r lif
e Insure
rs’ new
busin
ess p
rem
ium
de
-gre
w
year
on y
ear
by
5%
Giv
en t
he m
acro
-econo
mic
envi
ronm
ent
and p
roduct
transitio
n t
o m
eet
regula
tory
guid
elin
es,
sale
s g
row
th w
as
imp
acte
d a
cro
ss t
he
in
du
str
y
BS
LI’s n
ew
busin
ess p
rem
ium
de
-gre
w b
y 8%
fro
m
` 1
,83
7 C
r. t
o `
1,6
97
Cr.
Renew
al pre
miu
m a
t ` 3
,136 C
r. (
PY
: `
3,3
80 C
r.)
Earn
ings b
efo
re t
ax
at ` 3
71 C
r. (
PY
: `
542 C
r.)
Str
ength
enin
g p
roduct
port
folio
Share
of
non
-ULIP
pro
ducts
in t
he indiv
idual new
busin
ess
sale
s a
t 60%
(P
Y : 5
6%
) is
lik
ely
to
ris
e g
oin
g f
orw
ard
le
d b
y
the r
eva
mpe
d p
roducts
suite
Tra
ditio
nal P
ar
pro
ducts
accounte
d f
or
31%
(P
Y: 4%
) of
indiv
idual new
busin
ess
AU
M g
rew
y-o
-y
by
8%
to `
24,7
75 C
r.
Conserv
ation r
atio (
indiv
idual lif
e)im
pro
ved f
rom
65%
to 7
0%
Surr
enders
(as a
perc
enta
ge o
f P
olic
yhold
er’s A
UM
)
reduced y
-o-y
by
~150 b
ps
Bir
la S
un
Lif
e I
nsu
ran
ce
(B
SL
I)
20
12
-13
(PY
)
20
13
-14
(C
Y)
20
12
-13
(PY
)
20
13
-14
(C
Y)
69
4
7
26
Ne
w B
us
ine
ss
Pre
miu
m (
Gro
ss)
1,8
37
1
,69
7
382
297
Indiv
idual
1,0
48
879
312
429
Gro
up
788
818
99
0
1
,05
2
Re
ne
wa
l Pre
miu
m
(Gro
ss
)3
,38
0
3,1
36
971
1,0
18
In
div
idual
3,2
93
3,0
10
19
34
G
roup
87
125
1,6
83
1
,77
8
Pre
miu
m In
co
me
(G
ross
)5
,21
6
4,8
33
(86)
(8
0)
L
ess : R
ein
su
ran
ce
ce
de
d &
S
erv
ice
ta
x(3
13)
(307)
1,5
98
1
,69
9
Pre
miu
m In
co
me
(N
et)
4,9
03
4
,52
6
40
41
O
ther
Opera
ting Inco
me
134
176
1,6
37
1
,74
0
Re
ve
nu
e5
,03
7
4,7
02
89
8
0
Ea
rnin
gs b
efo
re t
ax
54
2
3
71
89
8
0
Ne
t P
rofi
t 5
42
37
1
As
se
ts u
nd
er
ma
na
ge
me
nt
22
,92
9
2
4,7
75
Polic
yhold
ers
' Inve
stm
ents
21,5
59
23,4
45
Share
hold
ers
' Inve
stm
ents
1,3
71
1,3
29
Fu
ll Y
ea
r
` C
rore
Qu
art
er
4
32
Ad
itya
Bir
la F
ina
nc
e
Le
nd
ing
bo
ok
gre
w b
y 4
4%
fro
m ~
` 8
,000 C
r. t
o ~
` 1
1,5
50 C
r.
Co
rpo
rate
Fin
an
ce a
nd
Mo
rtg
age
se
gm
en
ts w
ere
th
e la
rge
st
contr
ibuto
rs t
o t
he g
row
th
Reven
ue r
ose y
-o-y
by 6
9%
` 7
13 C
r. t
o `
1,2
03 C
r.
EB
T s
oare
d b
y 71%
fro
m `
147 C
r. t
o `
251 C
r.
Gro
wth
in lendin
g b
ook a
nd im
pro
ved o
pex
ratio c
ontr
ibute
d
Sh
are
Ca
pit
al
of ` 2
75 C
r. w
as in
fused
in
Q4 (
`5
25
Cr.
in
fu
ll y
ea
r)
Fo
cu
s o
n r
eta
il f
oo
tpri
nt
exp
an
sio
n:
Reach e
xpanded f
rom
12 c
itie
s
to 1
8 c
itie
s t
hro
ugh o
penin
g o
f 11 n
ew
bra
nches /
poin
ts o
f pre
sence
Lo
ng
term
cre
dit
rati
ng
up
gra
ded
fro
m A
A t
o A
A+
by C
AR
E
3,4
25
8,0
00
11
,55
0
Ma
r'1
2M
ar'1
3M
ar'1
4
Gro
wth
in
Len
din
g b
oo
k
(`C
rore
)
~
~
~
Ke
y b
usin
es
s m
etr
ics
Cap
ital M
ark
et
28%
Co
rpo
rate
F
inan
ce
23%
Infr
a
Fin
an
cin
g22%
Mo
rtg
ag
e*
26%
Oth
ers
1%
Le
nd
ing
bo
ok
as
on
31
stM
ar’
14 :
Bre
ak
-up
* LA
P / L
RD
& C
onstr
uctio
n F
inance
FY
13
(PY
)
FY
14
(CY
)
Net In
tere
st I
ncom
e (
incl. fee incom
e) (%
)5.4
%5.1
%
Opex
to N
II R
atio
(%
)32%
29%
Retu
rn o
n A
vg.
Net W
ort
h (
p.a
.) (
%)
14.3
%13.1
%
Retu
rn o
n A
vg.
Ass
ets
(p.a
.) (
%)
1.9
%1.9
%
Gro
ss N
PA
(as %
of to
tal lo
ans &
adva
nces)
1.2
%1.3
%
Net N
PA
(as %
of to
tal lo
ans &
adva
nces)
0.8
%0.6
%
Fee I
ncom
e (
` C
rore
)45
51
Net P
rofit (`
Cro
re)
100
166
Net W
ort
h (
` C
rore
)1,0
79
1,7
69
Borr
ow
ings
(` C
rore
)6,8
67
9,6
47
Leve
rage (
x)6.4
x5.5
x
33
Ind
ustr
y’s
do
mesti
c A
AU
M g
rew
by 1
1%
to
cro
ss `
9,0
0,0
00 C
r.
Fix
ed incom
e f
unds d
rove
y-o
-y g
row
th
BS
AM
C’s
AA
UM
gre
w y
-o-y
by 1
6%
to
` 9
6,4
29 C
r.
De
bt
& liq
uid
fu
nd
s w
ere
th
e la
rge
st
co
ntr
ibuto
rs t
o t
he
gro
wth
.
Offshore
AU
M g
rew
y-o
-y b
y 29%
to
` 5
,921 C
r.
Ran
ks 4
thin
In
dia
wit
h d
om
esti
c A
AU
M s
hare
at
9.8
5%
(P
Y : 9
.43%
)
Attain
ed 2
nd
hig
hest
y-o-y
AA
UM
gro
wth
am
ong t
he t
op 5
pla
yers
BS
AM
C’s
sh
are
in
In
dustr
y’s
eq
uity A
AU
M r
ose t
o 5
.8%
(P
Y:
5.3
%)
Reven
ue r
ose y
-o-y
by 2
4%
fro
m `
405 C
r. t
o `
502 C
r.
Earn
ings
befo
re tax
gre
w b
y 31%
to `
140 C
r.
Gro
wth
in A
AU
M led t
o im
pro
ved e
arn
ings
Str
ong f
und p
erf
orm
ance c
om
pare
d t
o p
eers
in d
ebt
& e
quity
schem
es
Re
co
gn
ize
d a
s t
he
“M
ost
Ad
mire
d A
MC
of
the
ye
ar”
in
BS
FI
ca
teg
ory
by
Sta
r of
India
Aw
ard
s s
upport
ed b
y A
BP
New
s.
Bir
la S
un
Lif
e A
sse
t M
an
ag
em
en
t (B
SA
MC
) ` C
rore
201
2-13
(PY)
201
3-14
(CY)
201
2-13
(PY)
201
3-14
(CY)
104
12
5
Rev
enue
(Fee
Inco
me)
405
502
21
25
Earn
ings
bef
ore
tax
107
140
15
17
Net P
rofit
73
95
Qua
rter
4
Ful
l Yea
r
Rev
enue
s
Q4
FY
13
(PY
)
Q3
FY
14
(PQ
)
Q4
FY
14
(CY
)
Do
me
stic
Eq
uity
&
Alte
rnate
Asse
ts1
2,5
67
12
,27
0
12
,92
2
Do
me
stic
Fix
ed
Inco
me
66
,28
4
74
,22
2
77
,58
6
Off
sho
re A
sse
ts4
,60
0
6,2
07
5,9
21
To
tal A
UM
83
,45
1
92
,69
9
96
,42
9
` C
rore
Av
era
ge
AU
M
34
Oth
er
Fin
an
cia
l S
erv
ice
s
Ad
itya
Bir
la I
nsu
ran
ce
Bro
ke
rs(G
en
era
l in
su
ran
ce
ad
vis
ory
)
Reve
nue s
urg
ed y
-o-y
by
44%
to `
82 C
r. (
PY
: `
57
Cr.
) and e
arn
ings b
efo
re t
ax
gre
w b
y 29%
to `
21 C
r. (
PY
: `
16
Cr.
)
Pre
miu
m p
lacem
ent
rose b
y 42%
to `
898 C
r. (
PY
: `
63
4 C
r.).
Pre
miu
m m
ark
et
share
incre
ased f
rom
0.9
2%
to 1
.16%
Ad
itya
Bir
la M
on
ey
(AB
M)
(Bro
kin
g a
nd
We
alt
h M
an
ag
em
en
t)
Bro
kin
g :
Industr
y continues t
o w
itness s
luggis
h v
olu
mes,
low
er
reta
il part
icip
ation a
nd p
ressure
on y
ield
s.
In Q
4F
Y14,
mark
et
share
of
Aditya
Birla
Money
gre
w y
-o-y
to 1
.42%
(P
Y:1
.39%
) in
reta
il cash e
quity
segm
ent, r
ose t
o
2.0
1%
(P
Y:0
.93%
) in
reta
il F
&O
segm
ent
and im
pro
ved t
o 0
.59%
(P
Y:0
.48%
) in
com
modity
segm
ent.
Wealt
h M
an
ag
em
en
t: A
uA
at
~ `
7,9
00 C
r. (
PY
: ~
` 1
1,2
00 C
r.) w
as im
pacte
d b
y in
troduction o
f direct
pla
n in m
utu
al fu
nds
Ad
itya
Bir
la P
riva
te E
qu
ity (
AB
PE
) :
Fu
nd
s u
nd
er
ma
na
gem
en
t a
t `
1,1
58
Cr.
Fund I
has d
eplo
yed 7
4%
of
its d
eplo
yable
corp
us
Sunrise F
und h
as d
eplo
yed 4
3%
of
its d
eplo
yable
corp
us
PY
C
Y
PY
C
Y
PY
C
Y
PY
C
Y
Re
ve
nue
12
18
20
20
24
19
6
5
Earn
ing
s b
efo
re tax
1
1
(4)
(1)
3
2
2
2
Ne
t P
rofit / (L
oss)
1
1
(4)
(1)
3
2
1
1
Re
ve
nue
57
82
84
75
76
66
24
23
Earn
ing
s b
efo
re tax
16
21
(15)
(1
2)
(2)
(6)
9
9
Ne
t P
rofit / (L
oss)
11
14
(15)
(1
2)
(2)
(6)
6
6
Ad
ity
a B
irla
Mo
ne
y
(Bro
kin
g)
Ad
ity
a B
irla
Ca
pit
al A
dv
iso
rs
(Pri
va
te E
qu
ity
)
Ad
ity
a B
irla
In
su
ran
ce
Bro
ke
rs (
Ge
ne
ral
Ins
ura
nc
e A
dv
iso
ry)
` C
ro
re
Qu
art
er
4
Fu
ll Y
ea
r
Ad
ity
a B
irla
Mo
ne
y M
art
(We
alt
h M
an
ag
em
en
t)
35
Exp
andin
g r
eta
il pre
sence t
o s
trength
en m
ark
et
leaders
hip
Ca
pe
xof ` 9
3 C
r. w
as incurr
ed d
uring t
he y
ear
Whole
sale
Channel attain
ed 3
4%
y-o
-y s
ale
s g
row
th
Ma
du
ra F
ash
ion
& L
ife
sty
le
Reta
il C
han
nel
895
1,1
29
1,2
72
1,5
41
Ma
r'1
1M
ar'1
2M
ar'1
3M
ar'1
4
1129
1,2
72
1,5
1.3
1.6
1.9
2.2
Ca
rpe
t A
rea
(Mill
ion S
q F
t)N
o. o
f E
BO
s 2
012-
13
(PY)
201
3-14
(CY)
201
2-13
(PY)
201
3-14
(CY)
661
89
3
Reve
nue
2,52
3
3,
226
102
11
7
EBIT
DA24
5
388
75
93
Segm
ent E
BIT
157
29
9
479
45
7
Capi
tal E
mpl
oyed
479
45
7
63
82
ROAC
E (A
nnua
lised
) (%
)29
64
Qua
rter 4
` C
rore
Ful
l Yea
r
36
Pa
nta
loo
ns F
ash
ion
& R
eta
il L
td.
Cu
sto
me
r re
ach
exp
an
ded
to
81 P
anta
loons s
tore
s &
26 F
acto
ry
Outlets
spannin
g a
cro
ss 2
mill
ion s
q.
ft.
Launched
14 P
anta
loons s
tore
s &
1 F
acto
ry o
utlet
in F
Y14
During the y
ear,
busi
ness
inve
sted in o
rganis
atio
nbuild
ing,
store
s
exp
ansi
on,
people
& p
roce
sses.
Fin
an
ce
costs
optim
ised
thro
ugh d
ebt
refinancin
g
Ca
pe
xof ` 1
17 C
r. w
as incurr
ed d
uring t
he y
ear
Mensw
ear
35%
Wom
ensw
ear
39%
Kid
sw
ear
9%N
on-a
ppare
l17%
Re
ve
nu
e M
ix (
FY
14
)
` C
rore
As
on
31st
Mar'13
As
on
31st
Mar'14
Ne
t F
ixe
d A
sse
ts4
88
49
6
Go
od
will
1,1
68
1,1
68
Cash &
Curr
ent In
vestm
ents
32
5
17
Ne
t W
ork
ing
Cap
ital
19
(50
)
Ne
t W
ort
h7
70
57
9
De
bt3
93
1
1,0
50
Note
3 :
Net
of curr
ent
inve
stm
ents
of ` 8
00 C
r. a
s o
f 31st
Mar'1
3
Cu
sto
me
r R
ea
ch
90
95
107
Ju
n'1
2M
ar'1
3M
ar'1
4
10
1.6
1.7
2.0
Ca
rpe
t A
rea
(Mill
ion S
q F
t)
No
. o
f S
tore
s in
cl.
Fact
ory
Outlet
` C
rore
201
2-13
(PY
)
201
3-14
(CY
)
201
2-13
(PY
)
201
3-14
(CY
)
402
41
0
Rev
enue
1,
285
1,66
1
(13)
3
EB
ITD
A2
67
39
(31)
(46)
Seg
men
t EB
IT13
(75)
Not
e 2
: EB
ITD
A in
the
prev
ious
yea
r is
net o
f int
eres
t inc
ome
on c
urre
nt in
vest
men
ts o
f ` 8
00 C
r.
Not
e 1:
Pur
suan
t to
its a
cqui
sitio
n, P
anta
loon
s bu
sine
ss w
as c
onso
lidat
ed w
.e.f.
1st
Jul
y 20
12.
H
ence
, pre
vious
yea
r res
ults
are
not
com
para
ble
to th
at e
xten
t
Qua
rter
4
Ful
l Yea
r
1
37
Ja
ya
Sh
ree
Te
xti
les
Reve
nue g
rew
y-o
-y b
y 14%
to `
1,3
00 C
r. a
nd E
BIT
DA
rose b
y 12%
to `
172 C
r.
Poste
d h
ighest
eve
r earn
ings
Exp
ansio
n led g
row
th in the lin
en s
egm
ent
couple
d w
ith h
igher
realis
ation c
ontr
ibute
d
Lin
en Y
arn
capacity
was e
xpande
d in Q
2F
Y14 f
rom
2,3
00 T
PA
to 3
,400 T
PA
and L
inen F
abric p
rocessin
gcapacity
was
exp
anded in Q
3F
Y14 f
rom
7.3
mill
ion m
ete
rs p
.a.
to 1
0.1
mill
ion m
ete
rs p
.a.
Full
benefit
of lin
en e
xpansi
on w
ill a
ccru
e in F
Y15
Fo
cu
sin
g o
n h
igh m
arg
in L
inen F
abric O
TC
segm
ent
: O
pened 2
6 n
ew
‘Lin
en C
lub F
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4
Fu
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38
Base o
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ctive
su
bscrib
ers
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vides a
gre
at
pla
tform
for
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g v
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to w
irele
ss d
ata
serv
ices in f
utu
re
Cu
rre
ntly,
25
.3 m
illio
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de
a s
ub
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mo
bile
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ta s
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ntr
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f to
tal se
rvic
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eve
nu
e in
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FY
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As o
f 31
stM
ar’14,
Idea h
ad 1
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port
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ubscribers
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LR
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` C
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on
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Qu
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r 4
F
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r
39
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` C
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Qu
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4
40
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f tr
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im
po
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&K
fert
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rs a
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41
da
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or
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pacte
d y
-o-y
earn
ings.
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a p
lant
resum
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ull
opera
tions o
n 8
thA
pril 2014.
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ctu
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eve
nue g
rew
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7%
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ise in n
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rices (
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e-g
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Gove
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n o
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47
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Fu
ll Y
ea
r
` C
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Qu
arte
r 4
41
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r earn
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wh
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igh
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24
Fu
ll Y
ea
r
` C
rore
Qu
arte
r 4
42
Ad
itya
Bir
la I
nsu
lato
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ditya
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ffective
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ield
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61
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43
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95
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ll Y
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r
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r 4
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info
rmation
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inth
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managem
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info
rmation
and
estim
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info
rmation
conta
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here
inis
subje
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to
change
without
notice
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past
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NL
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sen
tation,
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out
oblig
atio
nto
notify
an
ypers
on
of
such
revi
sio
nor
changes.
This
pre
senta
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may
not
be
copie
dand
dis
sem
inate
din
any
manner.
INF
OR
MA
TIO
NP
RE
SE
NT
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ISN
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OR
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AN
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QU
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SH
AR
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YO
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CU
RIT
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FA
BN
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Th
isp
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ectl
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eU
nit
ed
Sta
tes,
Can
ad
ao
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an
.T
hese
mate
rials
are
no
tan
off
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of
secu
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for
sale
ino
rin
toth
eU
nit
ed
Sta
tes,
Can
ad
ao
rJap
an
.
Ad
itya
Bir
la N
uvo
Lim
ite
d
Re
gd
. O
ffic
e:
Ind
ian
Ra
yo
n C
om
po
un
d, V
era
va
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Aditya Birla Nuvo Ltd.: Press Release for the year ended 31st March 2014 Page 1/3
PRESS RELEASE
Mumbai, 20th May 2014
Aditya Birla Nuvo reports results for the year ended 31st March 2014
Achieved Revenue at ` 25,893 Crore
EBITDA up by 19% to ` 4,937 Crore (` Crore)
Quarter 4 Consolidated Results1
Full Year
2012-13 (Previous Year)
2013-14 (Current Year)
2012-13 (Previous Year)
2013-14 (Current Year)
6,996 7,112 Revenue 25,490
25,893
1,053 1,263 EBITDA 4,142 4,937
199 283 Net Profit (before non-recurring gain/loss)
2 1,059 1,226
199 176 Reported Net Profit 1,059 1,143
Note 1: The financial results are not strictly comparable with the previous year on account of slump sale of the Carbon Black
business with effect from 1st April 2013 and consolidation of Pantaloons business with effect from 1
st July 2012.
Note 2: Non-recurring gain / loss includes gain of ` 24 Cr. on slump sale of Carbon Black business, loss of ` 19 Crore on
impairment of goodwill relating to investments in broking and wealth management businesses and one-time interest
cost of ` 88 Cr. on redemption of Compulsory Convertible Debentures owing to divestment of IT-ITeS business.
Aditya Birla Nuvo (ABNL) has posted strong earnings and is competitively well positioned in most of its
businesses.
Business-wise Review
Aditya Birla Financial Services
With funds under management worth USD 20.4 billion, Aditya Birla Financial Services (ABFS) ranks
among the top 5 fund managers (excluding LIC) in India. ABFS has a nationwide presence through
about 1,500 branches / points of presence and around 130,000 agents / channel partners. It posted a
consolidated revenue of USD 1.1 billion (` 6,640 Crore) and earnings before tax at USD 124 million
(` 745 Crore). It generated Return on Average Capital Employed (RoACE) of 25% per annum.
Birla Sun Life Insurance returned surplus funds to the tune of about ` 400 Crore to the shareholders.
Birla Sun Life Asset Management is ranked as the 4th largest asset management company in India, with
a market share of 9.85%. Its AUM crossed the ` 100,000 Crore mark. The lending book of Aditya Birla
Finance expanded by 44% to about ` 11,550 Crore as on 31st March 2014. To support its growth, a
share capital of ` 525 Crore was infused during the year, taking its net worth to ` 1,769 Crore.
Fashion & Lifestyle
Selling two branded apparels every second, Fashion & Lifestyle business is one of the largest branded
apparel players in India. Louis Philippe and Van Heusen continue to be the best selling brands in India.
20%
42%
2%
19%
16%
2%
Aditya Birla Nuvo Ltd.: Press Release for the year ended 31st March 2014 Page 2/3
It opened one store per day to expand its retail presence to 1,750 exclusive brand outlets / stores,
spanning nationwide across 4.3 million square feet. Its revenue rose by 23% to USD 1 billion (` 6,048
Crore) and EBITDA by 23% to around USD 100 million (` 573 Crore). It is generating an operating
ROACE of 28% per annum.
Madura posted all round growth in top-line, profitability and free cash flows. Its revenue grew by 28% to
` 3,226 Crore and the EBITDA surged by 58% to ` 388 Crore, led by growth in the wholesale channel,
retail stores expansion and 7% like-to-like retail stores sales growth. Madura added 364 stores and
generated free cash flows of about ` 325 Crore during the year.
Pantaloons is in the investment phase and is strengthening its retail presence, brand portfolio and
merchandise to enhance sell through. It has launched 14 new Pantaloons stores and 1 factory outlet
during the year.
To strengthen its market leadership, Jaya Shree has expanded Linen Yarn capacity from 2,300 to 3,400
tons per annum and Linen Fabric capacity from 7.3 to 10.1 million meters per annum. The full benefit of
the expanded capacity will reflect in fiscal 2014-15.
Telecom
Idea Cellular is the biggest revenue market share gainer in India since the past five years. It ranks 3rd
largest in India with a revenue market share at 16.1%. Idea ranks 7th largest in the world, in terms of
subscribers based on operations in a single country. It posted a strong growth in earnings led by robust
voice and data usage, improved voice realisation, scale benefit and cost efficiency. Its ROACE is up
from 10% per annum to 12% per annum. Its revenue grew at nearly double the wireless industry growth
rate by 18% to USD 4.4 billion (` 26,432 Crore) and EBITDA rose by 41% to USD 1.4 billion (` 8,560
Crore). With Net Debt to EBITDA at 2.6 times, its balance sheet remained strong after incurring a capex
of ` 35.3 billion and the spectrum acquisition cost of ` 104.2 billion. The cash profit generation of ` 64.4
billion contributed. Idea has proposed dividend at 4% of share capital entailing outlay of ` 155 Crore
including tax.
Manufacturing (Agri, Rayon and Insulators)
The revenue from the manufacturing businesses at ` 3,678 Crore and EBITDA at ` 383 Crore are lower
year on year mainly due to lower profitability in the Agri business which was impacted by the
discontinuance of trading in imported P&K fertilisers and the 41 days shutdown for the annual
turnaround. The urea plant resumed full operations on 8th April 2014. The Agri business will benefit from
higher fixed cost reimbursement as per the Government policy and energy savings project in fiscal 2014-
15. The Rayon business recorded its highest ever earnings. The new superfine yarn unit is currently
operating at full capacity. However, its complete benefit will accrue in fiscal 2014-15. Insulators business
has posted higher profitability driven by increase in volumes, improved realisation and enhanced yield.
Divestment of Carbon Black and IT-ITeS businesses
To ensure greater focus in its core businesses, ABNL divested its Cabon Black business with effect from
1st April 2013 and the IT-ITeS business with effect from 9th May 2014 at Enterprise Value of approx. USD
240 million and USD 260 million respectively, subject to working capital and other adjustments.
The divestment proceeds have and will support the balance sheet and the growth plans of ABNL.
Aditya Birla Nuvo Ltd.: Press Release for the year ended 31st March 2014 Page 3/3
Balance Sheet
The standalone balance sheet supported an investment and capex outlay of about ` 2,500 Crore during
the year, yet achieved reduction in net debt by around ` 450 Crore. The divestment of the Carbon Black
business, the balance equity infusion of ` 671 Crore by promoters and the release of net working capital
has strengthened the Company’s balance sheet. Standalone Net Debt to EBITDA improved year on year
from 3.3 times to 2.6 times and Net Debt to Equity from 0.53 times to 0.39 times.
Dividend
The Board of Directors has recommended an equity dividend of 70% (` 7 per equity share) for financial
year 2013-14 entailing a total outgo of ` 98 Crore including dividend distribution tax.
Capital Outlay for 2014-15
For 2014-15, ABNL has earmarked a capital expenditure plan of around ` 460 Crore. The Company
plans to invest about ` 350 Crore in the Financial Services business.
Going forward, ABNL’s thrust is on capturing growth opportunities across its businesses.
About Aditya Birla Nuvo Ltd.
Aditya Birla Nuvo is a ~USD 4 billion conglomerate operating in the services and the manufacturing sectors, where it commands a leadership
position. Its service sector businesses include Financial Services (Life Insurance, Asset Management, NBFC, Private Equity, Broking, Wealth
Management and general insurance advisory), Fashion & Lifestyle (Branded apparels & Textiles) and Telecom. Its manufacturing businesses
comprise of the Agri, Rayon and Insulators businesses.
Aditya Birla Nuvo is part of the Aditya Birla Group, a USD 40 billion Indian multinational. The Group operates in 35 countries across the globe,
is anchored by an extraordinary force of about 120,000 employees belonging to 42 nationalities and derives more than 50% of its revenue from
its overseas operations. Disclaimer : Certain statements in this “Press Release” may not be based on historical information or facts and may be “forward looking statements” within the meaning of applicable
securities laws and regulations, including, but not limited to, those relating to general business plans & strategy of the Company, its future outlook & growth prospects, future developments in
its businesses, its competitive & regulatory environment and management's current views & assumptions which may not remain constant due to risks and uncertainties. Actual results could
differ materially from those expressed or implied. The Company assumes no responsibility to publicly amend, modify or revise any statement, on the basis of any subsequent development,
information or events, or otherwise. This “Press Release” does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be
considered as a recommendation that any investor should subscribe for or purchase any of the Company’s shares. The financial figures in this “Press Release” have been rounded off to the
nearest ` one Crore. The financial results are consolidated financials unless otherwise specified.
Aditya Birla Nuvo Limited
Regd. Office: Indian Rayon Compound, Veraval – 362 266 (Gujarat) [Corporate Identity Number L17199GJ1956PLC001107]
Corporate Office: 4th
Floor ‘A’ Wing, Aditya Birla Centre, S.K. Ahire Marg, Worli, Mumbai – 400 030
Follow us at : www.adityabirlanuvo.com / www.adityabirla.com / www.twitter.com/adityabirlagrp Email: [email protected]
Stock Code: BSE: 500303 NSE: ABIRLANUVO Reuters: ABRL.BO / ABRL.NS / IRYN.LU Bloomberg: ABNL IN / IRIG LX
STATEMENT OF CONSOLIDATED AUDITED RESULTS FOR THE YEAR ENDED 31ST MARCH 2014` Lakhs
Particulars
31st
Mar 14 31st
Dec 13 31st
Mar 13 31st
Mar 14 31st
Mar 13
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
(Refer Note 9) (Refer Note 9)
1 Income from Operation
(a) Net Sales / Income from Operations (Net of Excise Duty) 7,04,992 6,46,755 6,90,284 25,62,147 25,16,864
(b) Other Operating Income 6,191 7,725 9,267 27,192 32,156
Total Income from Operations (Net) 7,11,183 6,54,480 6,99,551 25,89,339 25,49,020
2 Expenses
(a) Cost of Material Consumed 68,881 81,864 1,12,766 2,94,412 4,32,750
(b) Purchase of Stock-In-Trade 54,486 60,053 53,467 2,18,399 2,48,696
(c) Change in Inventories of Finished Goods, (4,117) (8,064) 5,852 (22,668) (4,152)
Work-In-Progress and Stock-In-Trade
(d) Employee Benefit Expense 97,447 99,093 84,685 3,89,538 3,41,911
(e) Depreciation and Amortisation Expense 42,994 40,713 34,522 1,60,886 1,29,549
(f) Benefits Paid - Life Insurance Business 97,807 91,211 1,10,885 3,66,550 3,65,864 (g) Change in Valuation of Liability in respect of Life Insurance Policies
38,030 (24,973) 11,971 (34,308) (32,398)
(h) Other Expenses 2,41,925 2,33,107 2,25,733 9,17,595 8,18,179
Total Expenses 6,37,453 5,73,004 6,39,881 22,90,404 23,00,399
3 Profit from Operations before Other Income, Finance Costs
and Exceptional Items (1 - 2)
73,730 81,476 59,670 2,98,935 2,48,621
4 Other Income 9,617 7,462 11,069 33,886 36,062
5 Profit before Finance Costs and Exceptional Items (3 + 4) 83,347 88,938 70,739 3,32,821 2,84,683
6A Finance Costs related to Lending Activity of Subsidiaries 21,203 18,799 14,962 74,166 45,610
6B Other Finance Costs 25,977 16,772 23,403 81,967 86,506
7 Profit after Finance Costs but before Exceptional Items (5 - 6) 36,167 53,367 32,374 1,76,688 1,52,567
8 Exceptional Items (refer note no 3) (1,864) - - 542 -
9 Profit before Tax (7 + 8) 34,303 53,367 32,374 1,77,230 1,52,567
10 Tax Expenses (refer note no 3 a) 16,013 15,773 12,464 55,050 34,178
11 Net Profit for the Period (9 - 10) 18,290 37,594 19,910 1,22,180 1,18,389
12 Minority Interest 677 3,067 23 7,892 12,500
13 Net Profit after Taxes and Minority Interest (11 - 12) 17,613 34,527 19,887 1,14,288 1,05,889
14 Paid Up Equity Share Capital 13,008 13,008 12,021 13,008 12,021 (Face Value of ` 10 each)
15 Reserve excluding Revaluation Reserve 11,05,856 9,03,987
16 Earning per Share of ` 10 each (not annualised)
(a) Basic - ` 13.54 27.40 17.45 92.08 93.18 (b) Diluted - ` 13.52 27.20 17.14 91.12 91.50
A PARTICULARS OF SHAREHOLDING
1 Public Shareholding *
- Number of Shares 5,24,58,223 5,24,55,092 5,24,06,438 5,24,58,223 5,24,06,438
- Percentage of Shareholding 40.33% 40.32% 43.59% 40.33% 43.59%
2 Promoter and Promoter Group Shareholding *
(a) Pledged/ Encumbered
- Number of Shares Nil Nil Nil Nil Nil
- Percentage of shares (as a % of the total Shareholding of promoter and promoter group)
- - - - -
- Percentage of shares (as a % of the total Share Capital of the Company)
- - - - -
- (b) Non - encumbered -
- Number of Shares 7,44,44,697 7,44,44,697 6,46,24,697 7,44,44,697 6,46,24,697
- Percentage of shares (as a % of the total Shareholding of promoter and promoter group) 100.00% 100.00% 100.00% 100.00% 100.00%
- Percentage of shares (as a % of the total Share Capital of the Company) 57.23% 57.23% 53.76% 57.23% 53.76%
* Excludes shares represented by Global Depository Receipts
B INVESTOR COMPLAINTS
Pending at the beginning of the quarter
Received during the quarter
Disposed of during the quarter
Remaining unresolved at the end of the quarter
Page 1/5
Year EndedQuarter Ended
3 months ended 31st
Mar 14
1
2
12
Contd. from Page 1
STATEMENT OF CONSOLIDATED AUDITED RESULTS FOR THE YEAR ENDED 31ST MARCH 2014` Lakhs
Particulars
31st
Mar 14 31st
Dec 13 31st
Mar 13 31st
Mar 14 31st
Mar 13
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
(Refer Note 9) (Refer Note 9)
1 Segment Revenue
Financial Services
Life Insurance 1,73,941 98,338 1,63,723 4,70,136 5,03,673
Other Financial Services 53,347 49,443 39,935 1,94,830 1,25,816
Telecom 1,75,183 1,66,976 1,51,616 6,66,865 5,66,234
Fashion and Lifestyle
Branded Apparels and Accessories 1,24,272 1,23,182 1,06,164 4,75,920 3,80,203
Textiles 34,472 33,146 28,259 1,30,005 1,14,434
IT - ITES (refer note no 2) 72,448 74,193 61,419 2,89,773 2,46,553
Manufacturing
Agri - business (Fertilisers, Agro-Chemicals and Seeds) 40,787 75,416 65,076 2,31,296 2,92,443
Rayon Yarn (including Caustic Soda and Allied Chemicals) 22,260 21,965 20,860 86,007 77,696
Insulators 15,899 13,509 11,474 50,546 45,408
Carbon Black (refer note no 3 a) - - 53,082 - 2,03,591
Total Segmental Revenue 7,12,609 6,56,168 7,01,608 25,95,378 25,56,051
Less: Inter Segment Revenue (1,426) (1,688) (2,057) (6,039) (7,031)
Total Income from Operations (Net) 7,11,183 6,54,480 6,99,551 25,89,339 25,49,020
2 Segment Results (Profit before Finance Costs and Tax)
Financial Services
Life Insurance 8,036 8,020 8,930 37,075 54,150
Other Financial Services 8,945 9,918 5,050 35,414 16,471
Telecom 27,444 22,468 19,230 96,232 63,851
Fashion and Lifestyle
Branded Apparels and Accessories 3,605 9,789 4,453 19,914 17,010
Textiles 3,721 4,154 3,006 14,137 12,885
IT - ITES (refer note no 2) 5,279 4,650 4,332 18,115 16,375
Manufacturing
Agri - business (Fertilisers, Agro-Chemicals and Seeds) (3,020) 3,119 1,789 5,587 17,664
Rayon Yarn (including Caustic Soda and Allied Chemicals) 4,478 4,356 3,524 17,197 15,297
Insulators 2,262 1,772 409 6,088 3,942
Carbon Black (refer note no 3 a) - - 1,968 - 9,307
Total Segment Result 60,750 68,246 52,691 2,49,759 2,26,952
Less: Finance Costs (25,977) (16,772) (23,403) (81,967) (86,506)
Add: Interest Income 1,085 1,384 3,084 7,029 11,306
Less: Other Un-allocable (Expenditure) / Income - net 309 509 2 1,867 815
Profit after Finance Costs but before Exceptional Items 36,167 53,367 32,374 1,76,688 1,52,567
Exceptional items (refer note no 3) (1,864) - - 542 -
Profit before Tax 34,303 53,367 32,374 1,77,230 1,52,567
3 Capital Employed (Including Goodwill) As on As on As on As on As on
(Segment Assets - Segment Liabilities) 31st
Mar 14 31st
Dec 13 31st
Mar 13 31st
Mar 14 31st
Mar 13
Financial Services
Life Insurance 1,34,376 1,26,335 1,39,142 1,34,376 1,39,142
Other Financial Services 2,34,133 1,99,093 1,39,665 2,34,133 1,39,665
Telecom 11,36,234 8,87,637 8,78,147 11,36,234 8,78,147
Fashion and Lifestyle
Branded Apparels and Accessories 2,61,443 2,58,169 2,54,789 2,61,443 2,54,789
Textiles 31,714 23,040 17,903 31,714 17,903
IT - ITES (refer note no 2) 1,70,245 1,77,241 1,63,603 1,70,245 1,63,603
Manufacturing
Agri - business (Fertilisers, Agro-Chemicals and Seeds) 1,61,578 1,45,939 1,85,382 1,61,578 1,85,382
Rayon Yarn (including Caustic Soda and Allied Chemicals) 75,860 77,122 68,054 75,860 68,054
Insulators 42,979 38,497 39,465 42,979 39,465
Carbon Black (refer note no 3 a) - - 1,24,926 - 1,24,926
Total Segment Capital Employed 22,48,562 19,33,073 20,11,076 22,48,562 20,11,076
Add: Unallocated Corporate Assets 41,487 1,05,402 1,65,736 41,487 1,65,736 Total Capital Employed 22,90,049 20,38,475 21,76,812 22,90,049 21,76,812
Page 2/5
Year EndedQuarter Ended
Contd. from Page 2
Notes:
1 Consolidated Statement of Assets and Liabilities:
` Lakhs
As at As at
31st March 31st March
2014 2013
(Audited) (Audited)
A EQUITY AND LIABILITIES
1 Shareholders' Funds:(a) Share Capital 13,018 12,031
(b) Reserves & Surplus 11,05,856 9,03,987
(c) Money Received against Share Warrants - 22,362
Sub Total - Shareholders' Funds 11,18,874 9,38,380
2 Preference Share issued by Subsidiary and Joint Venture Companies 49 49
3 Minority Interest 77,812 94,043
4 Non-current Liabilities(a) Long-term Borrowings 11,89,561 8,88,701
(b) Deferred Tax Liabilities (Net) 55,223 44,954
(c) Other Long-term Liabilities 56,513 50,572
(d) Long-term Provisions 24,269 13,671
(e) Policyholders' Fund 22,80,168 20,86,969
(f) Fund for Discontinued Policies 47,544 20,504
(g) Fund for Future Appropriations 1,849 6,677
Sub Total - Non-current Liabilities 36,55,127 31,12,048
5 Current Liabilities(a) Short-term Borrowings 6,53,425 7,16,669
(b) Trade Payables 3,09,116 3,15,945
(c) Other Current Liabilities # 4,28,569 4,62,220
(d) Short-term Provisions 34,255 27,692
(e) Policyholders' Fund 20,699 29,201
(f) Fund for Future Appropriations 5,484 14,280
Sub Total - Current Liabilities 14,51,548 15,66,007
TOTAL - EQUITY AND LIABILITIES 63,03,410 57,10,527
B ASSETS
1 Non-current Assets(a) Fixed Assets 14,23,834 11,83,986
(b) Goodwill on Consolidation 3,76,064 3,60,467
(c) Non-current investments
i) Investments of Life Insurance Business 3,35,739 2,88,936
ii) Other Investments 47,817 44,841
(d) Assets Held to Cover Linked Liabilities of Life Insurance Business 16,99,988 16,21,571
(e) Deferred Tax Assets (Net) 4,802 2,125
(f) Long-term Loans and Advances 6,52,649 4,68,772
(g) Other Non-current Assets 4,395 457
Sub Total - Non-Current Assets 45,45,288 39,71,155
2 Current Assets (a) Current Investments
i) Investments of Life Insurance Business 77,254 70,279
ii) Other Investments 66,348 2,16,685
(b) Assets Held to Cover Linked Liabilities of Life Insurance Business 3,63,455 3,12,136
(c) Inventories 1,54,222 1,81,503
(d) Trade Receivables 2,64,269 3,35,856
(e) Cash & Bank Balances 71,862 83,041
(f) Short-term Loans and Advances 6,84,959 4,70,399
(g) Other Current Assets 75,753 69,473
Sub Total - Current Assets 17,58,122 17,39,372
TOTAL - ASSETS 63,03,410 57,10,527 # Includes Current maturities of Long-term Debts ` 2,11,034 Lakhs (Previous Year : ` 2,59,058 Lakhs)
Page 3/5
Particulars
Contd. from Page 3
Notes:2
3 Exceptional Item
` Lakhs
Quarter
EndedYear Ended
31st
Mar 13 31st
Mar 13
(Unaudited) (Audited)
53,082 2,03,591
(962) (2,476)
(104) 511
4
5
6
7
` Lakhs
31st
Mar 14 31st
Dec 13 31st
Mar 13 31st
Mar 14 31st
Mar 13
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
Total Income from Operations (Net) 1,96,708 2,22,032 2,41,969 8,02,035 9,75,450
Profit before Tax 14,481 15,536 22,931 80,429 53,689
Net Profit for the Period 9,822 10,386 18,379 67,395 42,305
Page 4/5
(b) During the period Aditya Birla Financial Services Private Limited, a wholly owned subsidiary of the Company, provided for diminution in value of itsLong Term Investment in two subsidiaries namely Aditya Birla Money Limited and Aditya Birla Money Mart Limited. The impact of diminution amountingto ` 1,864 Lakhs has been recognised as an exceptional items in Consolidated Financial Statement as an impairment of Goodwill created on acquisition
of these subsidiaries. The impairment so provided pertains to "Other Financial Services" segment.
Pursuant to the Scheme of Arrangement (the ‘Scheme’) under Section 391 to 394 of the Companies Act, 1956, the fashion retail business called the‘Pantaloon Format’ (demerged undertaking) of Pantaloon Retail (India) Limited (demerged company), sanctioned by Hon’ble High Court of Bombay videits order dated 1st March 2013, has been transferred by way of demerger to Pantaloons Fashion & Retail Limited (PFRL) (formerly Peter EnglandFashions and Retail Limited), a subsidiary of the Company, on a going concern basis, with effect from 8th April 2013. The Scheme is operative from theAppointed Date i.e. 1st July 2012.
In respect of a Jointly Controlled Entity of the Company viz Idea Cellular Limited (IDEA)
The Board of Directors has recommended a dividend of ` 7/- per equity share of ` 10/- each and ` 6/- per preference share of ` 100/- each at its meeting
held on 20th May 2014
(b) The Department of Telecommunications (DoT) conducted auction for the 900 and 1800 Mhz spectrum in February 2014. IDEA successfully bid for itsrequirement in the 11 service areas of Maharashtra, Madhya Pradesh, Kerala, Gujarat, Andhra Pradesh, Haryana, Punjab, Karnataka, Mumbai, Delhi andNorth East in the 1800 Mhz band and for Delhi service area also in the 900 Mhz band at a total Group's Share in cost of ` 262,998 Lakhs. This spectrum
which is yet to be earmarked and allotted to IDEA as on 31st March, 2014 is for twenty year period.
Quarter Ended Year Ended
Financial Results of Carbon
Black Business
Particulars
Total Income from Operations (Net)
ABNL IT & ITES Limited, a wholly owned subsidiary of the Company, at its meeting of the Board of Directors held on 30th January 2014, has approvedthe divestment of shares held by it in its IT-ITeS subsidiary, Aditya Birla Minacs Worldwide Limited, and has executed a Share Purchase Agreement witha group of investors led by Capital Square Partners and CX Partners at an Enterprise Value of USD 260 Million (including deferred grant) subject toworking capital adjustment and fulfilment of requisite consents and approvals.
All requisite consents and approvals which were part of closing conditions have been completed. With this divestment, Aditya Birla Minacs WorldwideLimited and its subsidiaries ceased to be subsidiaries of the Company, with effect from 9th May, 2014 and consequential accounting impact oftransaction will be given in ensuing financial year.
(a) In accordance with the approval given by the shareholders, the Company has accounted for slump sale of Carbon Black business with effect from 1stApril 2013 on a going concern basis to SKI Carbon Black (India) Private Limited pursuant to Business Transfer Agreement entered into with them andaccordingly a gain of ` 2,406 Lakhs on the said slump sale has been recognised as an exceptional item and a net tax credit of ` 4,070 Lakhs (including
reversal of deferred tax credit) has been netted off with current period tax expense. The results for the current reporting period do not include the resultsof Carbon Black business. The financial results of the Carbon Black business for the previous periods are given below for information:
Profit before Tax
Profit after Tax
Pursuant to Clause 41 of the Listing Agreement, the Company has opted to publish consolidated financial results. The standalone financial results areavailable at Company’s website viz. www.adityabirlanuvo.com and on websites of BSE (www.bseindia.com) and NSE (www.nseindia.com). KeyStandalone financial information is given below:
Particulars
(a) On 8th January 2013, Department of Telecommunications (DoT) issued demand notices towards one time spectrum charges:- for spectrum beyond 6.2 Mhz in respective service areas for retrospective period from 1st July 2008 to 31st December 2012, Group Share
amounting to ` 9,313 Lakhs, and
- for spectrum beyond 4.4 Mhz in respective service areas effective 1st January 2013 till expiry of the period as per respective licenses, Group Shareamounting to ` 44,010 Lakhs.
In the opinion of IDEA, inter-alia, the above demands amount to alteration of financial terms of the licenses issued in the past. IDEA therefore, petitionedthe Hon’ble High Court of Bombay, where the matter was admitted and is currently sub-judice. The Hon'ble High Court of Bombay has directed the DoT,not to take any coercive action until the matter is further heard.
Post effectiveness of the Scheme, Indigold Trade and Services Limited (ITSL), a wholly owned subsidiary of the Company, has made an Open Offer tothe public shareholders of PFRL at a price of `175 per share and acquired additional 17.87% of the issued and paid up capital of PFRL, as a result of this
the Company's holding in PFRL increased to 67.95%.
Contd. from Page 4
8As on As on
31st
Mar 14 31st
Mar 13
i) Debt Service Coverage Ratio 1.67 1.31
ii) Interest Service Coverage Ratio 4.67 3.10
Following have been computed as under:
9
10
11
Place : Mumbai Dr. Rakesh JainDate : 20th May 2014 Managing Director
Page 5/5
ii) Interest Service Coverage Ratio = Profit before Depreciation and Amortisation Expense, Finance Costs, Exceptional Item and Tax / Finance Costs
Regd. Office: Indian Rayon Compound, Veraval - 362266, GUJARAT.
The above results have been reviewed by the Audit Committee of the Board and taken on record at the meeting of the Board of Directors held on 20thMay 2014.
ADITYA BIRLA NUVO LIMITED
Particulars
i) Debt Service Coverage Ratio = Profit before Depreciation and Amortisation Expense, Finance Costs, Exceptional Item and Tax / (Finance Costs + Principal Repayment of Long term borrowings)
The previous periods figures have been regrouped or rearranged wherever necessary and in view of above note no 3 and 4, the figures for the previousperiods are not strictly comparable.
(excluding prepayments of ` 18,295 Lakhs during the year and ` 9,753 Lakhs during the previous year)
Additional Information of Standalone Accounts required pursuant to Listing Agreement for Debt Securities:
The figures for the last quarter of the current year and of the previous year are the balancing figures between the audited figures in respect of the full financial year ended 31st March and the unaudited published year to date figures up to the third quarter ended 31st December, which were subjected to limited review.
CIN - L17199GJ1956PLC001107
Web Site: www.adityabirlanuvo.com /www.adityabirla.com
An Aditya Birla Group Company
STATEMENT OF STANDALONE AUDITED RESULTS FOR THE YEAR ENDED 31ST MARCH 2014` Lakhs
Particulars
31st
Mar 14 31st
Dec 13 31st
Mar 13 31st
Mar 14 31st
Mar 13
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)(Refer Note 7) (Refer Note 7)
1 Income from Operation
(a) Net Sales / Income from Operations (Net of Excise Duty) 1,94,919 2,19,957 2,37,567 7,95,048 9,59,523
(b) Other Operating Income 1,789 2,075 4,402 6,987 15,927
Total Income from Operations (Net) 1,96,708 2,22,032 2,41,969 8,02,035 9,75,450
2 Expenses
(a) Cost of Material Consumed 68,881 81,864 1,12,766 2,94,412 4,32,750
(b) Purchase of Stock-In-Trade 30,730 36,609 24,335 1,19,138 1,63,625
(c) Change in Inventories of Finished Goods, (5,289) (7,688) 8,740 (20,443) (1,234)
Work-In-Progress and Stock-In-Trade
(d) Employee Benefit Expense 16,692 16,336 14,948 63,869 59,673
(e) Power and Fuel 20,084 26,910 23,390 95,500 86,850
(f) Depreciation and Amortisation Expense 5,324 4,854 6,079 19,902 21,918
(g) Other Expenditure 45,182 41,855 35,822 1,62,120 1,43,104
Total Expenses 1,81,604 2,00,740 2,26,080 7,34,498 9,06,686
3 Profit from Operations before Other Income, Finance Costs
and Exceptional Items (1 - 2) 15,104 21,292 15,889 67,537 68,764
4 Other Income (refer note no 4) 6,255 1,079 15,904 37,142 20,925
5 Profit before Finance Costs and Exceptional Items (3 + 4) 21,359 22,371 31,793 1,04,679 89,689
6 Finance Costs 6,878 6,835 8,862 26,656 36,000
7 Profit after Finance Costs but before Exceptional Items (5 - 6)
14,481 15,536 22,931 78,023 53,689
8 Exceptional Items (refer note no 3) - - - 2,406 -
9 Profit before Tax (7 + 8) 14,481 15,536 22,931 80,429 53,689
10 Tax Expenses (refer note no 3) 4,659 5,150 4,552 13,034 11,384
11 Net Profit for the Period (9 - 10) 9,822 10,386 18,379 67,395 42,305
12 Paid Up Equity Share Capital 13,008 13,008 12,021 13,008 12,021 (Face Value of ` 10 each)
13 Reserve excluding Revaluation Reserve 7,97,756 6,50,969
14 Earning per Share of ` 10 each (not annualised)
(a) Basic - ` 7.55 8.24 16.12 54.30 37.23 (b) Diluted - ` 7.54 8.18 15.84 53.74 36.56
A PARTICULARS OF SHAREHOLDING
1 Public Shareholding *
- Number of Shares 5,24,58,223 5,24,55,092 5,24,06,438 5,24,58,223 5,24,06,438
- Percentage of Shareholding 40.33% 40.32% 43.59% 40.33% 43.59%
2 Promoter and Promoter Group Shareholding *
(a) Pledged/ Encumbered
- Number of Shares Nil Nil Nil Nil Nil
- Percentage of shares (as a % of the total Shareholding of promoter and promoter group)
- - - - -
- Percentage of shares (as a % of the total Share Capital of the Company)
- - - - -
(b) Non - encumbered
- Number of Shares 7,44,44,697 7,44,44,697 6,46,24,697 7,44,44,697 6,46,24,697
- Percentage of shares (as a % of the total Shareholding of promoter and promoter group)
100.00% 100.00% 100.00% 100.00% 100.00%
- Percentage of shares (as a % of the total Share Capital of the Company)
57.23% 57.23% 53.76% 57.23% 53.76%
* Excludes shares represented by Global Depository Receipts
B INVESTOR COMPLAINTS
Pending at the beginning of the quarter
Received during the quarter
Disposed of during the quarter
Remaining unresolved at the end of the quarterPage 1/4
Quarter Ended
3 months ended 31st
Mar 14
1
2
21
Year Ended
Contd. from Page 1
STATEMENT OF STANDALONE AUDITED RESULTS FOR THE YEAR ENDED 31ST MARCH 2014` Lakhs
Particulars
31st
Mar 14 31st
Dec 13 31st
Mar 13 31st
Mar 14 31st
Mar 13
(Unaudited) (Unaudited) (Unaudited) (Audited) (Audited)
(Refer Note 7) (Refer Note 7)
1 Segment Revenue
Fashion and Lifestyle
Branded Apparels and Accessories 83,683 78,546 63,760 3,05,275 2,43,491
Textiles 34,472 33,146 28,259 1,30,005 1,14,434
Agri - business (Fertilisers, Agro-Chemicals and Seeds) 40,787 75,416 65,076 2,31,296 2,92,443
Rayon Yarn (including Caustic Soda and Allied Chemicals) 22,260 21,965 20,860 86,007 77,696
Insulators 15,899 13,509 11,474 50,546 45,408
Carbon Black (refer note no 3) - - 53,082 - 2,03,591
Total Segmental Revenue 1,97,101 2,22,582 2,42,511 8,03,129 9,77,063
Less: Inter Segment Revenue (393) (550) (542) (1,094) (1,613)
Total Income from Operations (Net) 1,96,708 2,22,032 2,41,969 8,02,035 9,75,450
2 Segment Results (Profit before Finance Costs and Tax)
Fashion and Lifestyle
Branded Apparels and Accessories 9,677 9,113 7,375 30,247 14,742
Textiles 3,721 4,154 3,006 14,137 12,885
Agri - business (Fertilisers, Agro-Chemicals and Seeds) (3,020) 3,119 1,789 5,587 17,664
Rayon Yarn (including Caustic Soda and Allied Chemicals) 4,478 4,356 3,524 17,197 15,297
Insulators 2,262 1,772 409 6,088 3,942
Carbon Black (refer note no 3) - - 1,968 - 9,307
Total Segment Result 17,118 22,514 18,071 73,256 73,837
Less: Finance Costs (6,878) (6,835) (8,862) (26,656) (36,000)
Add: Interest Income 966 666 516 4,414 3,649
Less: Other Un-allocable (Expenditure) / Income - net 3,275 (809) 13,206 27,009 12,203
Profit after Finance Costs but before Exceptional Items 14,481 15,536 22,931 78,023 53,689
Exceptional Items (refer note no 3) - - - 2,406 -
Profit before Tax 14,481 15,536 22,931 80,429 53,689
Capital Employed As on As on As on As on As on
(Segment Assets - Segment Liabilities) 31st
Mar 14 31st
Dec 13 31st
Mar 13 31st
Mar 14 31st
Mar 13
Fashion and Lifestyle
Branded Apparels and Accessories 37,724 36,873 43,376 37,724 43,376
Textiles 31,714 23,040 17,903 31,714 17,903
Agri - business (Fertilisers, Agro-Chemicals and Seeds) 1,61,578 1,45,939 1,85,382 1,61,578 1,85,382
Rayon Yarn (including Caustic Soda and Allied Chemicals) 75,860 77,122 68,054 75,860 68,054
Insulators 42,979 38,497 39,465 42,979 39,465
Carbon Black (refer note no 3) - - 1,24,926 - 1,24,926
Total Segment Capital Employed 3,49,855 3,21,471 4,79,106 3,49,855 4,79,106
Add: Unallocated Corporate Assets 8,36,257 7,73,006 5,99,223 8,36,257 5,99,223 Total Capital Employed 11,86,112 10,94,477 10,78,329 11,86,112 10,78,329
Page 2/4
Quarter Ended Year Ended
Contd. from Page 2
Notes:
1 Statement of Assets and Liabilities:
` LakhsAs at As at
31st March 31st March
2014 2013
(Audited) (Audited)
A EQUITY AND LIABILITIES
1 Shareholders' Funds:(a) Share Capital 13,018 12,031 (b) Reserves & Surplus 7,97,756 6,50,969 (c) Money Received against Share Warrants - 22,362
Sub Total - Shareholders' Fund 8,10,774 6,85,362
2 Non-current Liabilities(a) Long-term Borrowings 1,39,219 1,41,791 (b) Deferred Tax Liabilities (Net) 8,789 15,533 (c) Other Long-term Liabilities 9,987 8,549 (d) Long-term Provisions 522 536
Sub Total - Non-current Liabilities 1,58,517 1,66,409
3 Current Liabilities(a) Short-term Borrowings 2,13,400 2,08,839 (b) Trade Payables 1,50,562 1,52,424 (c) Other Current Liabilities# 45,309 89,459 (d) Short-term Provisions 20,878 19,023
Sub Total - Current Liabilities 4,30,149 4,69,745
TOTAL - EQUITY AND LIABILITIES 13,99,440 13,21,516
B ASSETS
1 Non-current Assets(a) Fixed Assets 1,84,827 2,17,722 (b) Non-current investments 7,95,234 5,85,666 (c) Long-term Loans and Advances 19,240 28,632 (d) Other Non-current Assets 78 81
Sub Total - Non-current Assets 9,99,379 8,32,101
2 Current Assets (a) Current Investments 1,565 27,800 (b) Inventories 1,10,372 1,39,328 (c) Trade Receivables 2,04,570 2,80,726 (d) Cash & Bank Balance 3,913 5,552 (e) Short-term Loans and Advances 72,355 28,429 (f) Other Current Assets 7,286 7,580
Sub Total - Current Assets 4,00,061 4,89,415
TOTAL - ASSETS 13,99,440 13,21,516 # Includes Current maturities of Long-term Debts ` 22,718 Lakhs (Previous Year ` 47,684 Lakhs)
Page 3/4
Particulars
Contd. from Page 3
Notes:2
3
` Lakhs
Quarter
EndedYear Ended
31st
Mar 13 31st
Mar 13
(Unaudited) (Audited)
53,082 2,03,591
(962) (2,476)
(104) 511
4
5
6 Additional Information of Standalone Accounts required pursuant to Listing Agreement for Debt Securities:As on As on
31st
Mar 14 31st
Mar 13
i) Debt Service Coverage Ratio 1.67 1.31
ii) Interest Service Coverage Ratio 4.67 3.10
Following have been computed as under:
7
8
9
Place : Mumbai Dr. Rakesh JainDate : 20th May 2014 Managing Director
Page 4/4
ABNL IT & ITES Limited, a wholly owned subsidiary of the Company, at its meeting of the Board of Directors held on 30th January 2014, hasapproved the divestment of shares held by it in its IT-ITeS subsidiary, Aditya Birla Minacs Worldwide Limited, and has executed a Share PurchaseAgreement with a group of investors led by Capital Square Partners and CX Partners subject to fulfilment of requisite consents and approvals.
All requisite consents and approvals which were part of closing conditions have been completed. With this divestment, Aditya Birla Minacs WorldwideLimited and its subsidiaries ceased to be subsidiaries of the Company, with effect from 9th May, 2014.
Other Income for the year ended 31st March 2014 includes profit on account of buyback of Investment in Equity Shares of ` 14,429 Lakhs and
Dividend Income of ` 8,745 Lakhs from Birla Sun Life Insurance Company Limited.
Profit before Tax
Profit after Tax
CIN - L17199GJ1956PLC001107
The Board of Directors has recommended a dividend of ` 7/- per equity share of ` 10/- each and ` 6/- per preference share of ` 100/- each at its
meeting held on 20th May 2014
Particulars
Financial Results of Carbon
Black Business
Total Income from Operations (Net)
The figures for the last quarter of the current year and of the previous year are the balancing figures between the audited figures in respect of the fullfinancial year ended 31st March and the unaudited published year to date figures up to the third quarter ended 31st December, which were subjectedto limited review.
In accordance with the approval given by the shareholders, the Company has accounted for slump sale of Carbon Black business with effect from 1stApril 2013 on a going concern basis to SKI Carbon Black (India) Private Limited pursuant to Business Transfer Agreement entered into with them andaccordingly a gain of ` 2,406 Lakhs on the said slump sale has been recognised as an exceptional item and a net tax credit of ` 4,070 Lakhs
(including reversal of deferred tax credit) has been netted off with current period tax expense. The results for the current reporting period do notinclude the results of Carbon Black business and hence are not strictly comparable with the previous periods reported above. The financial results ofthe Carbon Black business for the previous periods are given below for information:
The previous periods figures have been regrouped or rearranged wherever necessary.
Regd. Office: Indian Rayon Compound, Veraval - 362266, GUJARAT.
Web Site: www.adityabirlanuvo.com /www.adityabirla.com
An Aditya Birla Group Company
Particulars
i) Debt Service Coverage Ratio = Profit before Depreciation and Amortisation Expense, Finance Costs, Exceptional Item and Tax / (Finance Costs + Principal Repayment of Long term borrowings)
The above results have been reviewed by the Audit Committee of the Board and taken on record at the meeting of the Board of Directors held on 20thMay 2014.
ADITYA BIRLA NUVO LIMITED
(excluding prepayments of ` 18,295 Lakhs during the year and ` 9,753 Lakhs during the previous year)
ii) Interest Service Coverage Ratio = Profit before Depreciation and Amortisation Expense, Finance Costs, Exceptional Item and Tax / Finance Costs
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