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ABNL IN / IRIG LX - AceAnalyser Meet/100303_20140520.pdf · ntributing factors. 4 F a s h i o n & L...

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Stock Code: BSE : 500303 NSE : ABIRLANUVO Reuters : ABRL.BO / ABRL.NS / IRYN.LU Bloomberg : ABNL IN / IRIG LX
Transcript

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

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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

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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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