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Aditya Birla Money Limited (BIRLAMONEY)

₹112.45 -1.75% last close, 16 Oct

📊 NSE: BIRLAMONEY 🏢 Finance & Investments 📢 Latest filing: 14 Oct 2026 📝 Analysis written: 13 Dec 2025

Q2 FY27 results

Aditya Birla Money Limited reported Q2 FY27 results on 14 Oct 2026: revenue ₹138 Cr (+28.7% year on year, +5.3% on the previous quarter), and net profit ₹10.9 Cr (+8.9% year on year); the operating margin was 47.3%.

Q2 FY27 (₹ Cr)	Value	YoY vs Q2 FY26	QoQ
Revenue	₹138	+28.7%	+5.3%
Operating profit	₹65.1	+38.5%	+5.0%
Net profit	₹10.9	+8.9%	-2.1%
EPS (₹)	1.93	+7.2%	-2.0%
Operating margin	47.3%	—	—

Profit +58% above its own trend
Operating margin expanded 335 bps YoY
Operating cash flow was negative in FY26 despite a profit
H1 FY27 operating cash flow was negative despite a profit

Quality of profit: of pre-tax profit of ₹15.4 Cr, ₹15.2 Cr (99%) came from the core business and the rest from other income and one-off items. Core profit (operating profit less interest and depreciation) moved +8.8% year on year.

Against its own trend: net profit of ₹10.9 Cr was +58.1% against the ₹6.9 Cr its recent growth pointed to (above trend). This is a statistical baseline, not an analyst estimate.

Share price since the results: -7.9% (close before the filing to the latest close).

Full quarterly financials → Margins & quality of profit → All Q2 FY27 results → Results calendar →

BIRLAMONEY delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 47.61% of the BIRLAMONEY shares traded on NSE were taken to delivery, against the stock's own 20-session average of 61.21%. That is lower than usual for this stock. Turnover was only ₹57 lakh, so a handful of trades can move this figure.

47.61%Delivery, 16 Oct

61.21%Own 20-session average

1.4×Volume vs its average

₹112.45NSE close · -1.75%

Delivery in the last 5 sessions: 67.5% · 72.6% · 60.3% · 43.5% · 47.6%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Aditya Birla Money Q2 FY27 PAT Rises 7.4% YoY to ₹10.89 Cr; Revenue Up 29.3%

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 14 Oct 2026, 07:14 PM

Aditya Birla Money reported total revenue from operations of ₹137.69 Cr (₹13,769.49 Lakhs) for Q2 ended September 30, 2026, up 29.3% YoY compared to ₹106.51 Cr in Q2 FY26. Net profit (PAT) increased 7.4% YoY to ₹10.89 Cr from ₹10.15 Cr in the previous year quarter, though it declined slightly sequentially from ₹11.13 Cr in Q1 FY27. Operating margins softened to 11.21% compared to 13.34% in Q2 FY26, driven by higher finance costs of ₹46.12 Cr. For H1 FY27, PAT stood at ₹22.02 Cr compared to ₹25.52 Cr in H1 FY26, impacted by rising borrowing costs.

Revenue from operations grew 29.3% YoY to ₹137.69 Cr (₹13,769.49 Lakhs) in Q2 FY27
Profit after tax grew 7.4% YoY to ₹10.89 Cr (₹1,089.31 Lakhs) in Q2 FY27
Broking segment revenue expanded 29.3% YoY to ₹107.41 Cr; segment profit stood at ₹3.51 Cr
Finance costs surged 53.8% YoY to ₹46.12 Cr, reflecting higher borrowing volumes and rates
Outstanding debt stood at ₹2,372.78 Cr with a debt-to-equity ratio of 7.34x

💡 Track the impact of rising finance costs on lending/margin trade funding margins and monitoring market trading volumes for the broking segment.

Aditya Birla Money Submits Regulation 74(5) Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Oct 2026, 11:18 AM

Aditya Birla Money Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by its Registrar and Share Transfer Agent, Cameo Corporate Services Limited, confirms that securities received for dematerialisation during the period were duly verified, accepted or rejected, and cancelled. This is a standard quarterly administrative disclosure with no impact on the company's operations or financials.

Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018
Covers dematerialisation activity for the quarter ended September 30, 2026
Confirmation received from RTA Cameo Corporate Services Limited dated October 6, 2026
Filing submitted to exchanges on October 13, 2026

💡 No action is required as this is a standard statutory compliance filing. Investors should focus on upcoming Q2 financial results for fundamental updates.

IND AA+ Rating Affirmed; New Rs 150 Cr Commercial Paper Rating Assigned

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 03 Aug 2026, 05:27 PM

India Ratings & Research has affirmed Aditya Birla Money's Long Term Issuer Rating at 'IND AA+/Stable'. The agency also assigned a new 'IND A1+' rating to Commercial Papers (CP) worth Rs 150 Cr (INR 1,500 million) and affirmed the existing Rs 2,350 Cr (INR 23,500 million) CP rating. The total rated CP program of Rs 2,500 Cr is significant, representing approximately 3.3x the company's current market capitalization of Rs 754 Cr. These high ratings reflect the strong financial and moral support from the parent entity, Aditya Birla Capital Limited.

Long Term Issuer Rating affirmed at IND AA+ with a Stable outlook
New IND A1+ rating assigned to Commercial Papers worth INR 1,500 million
Existing IND A1+ rating affirmed for Commercial Papers worth INR 23,500 million
Total rated Commercial Paper program now stands at INR 25,000 million (Rs 2,500 Cr)
Ratings are supported by the parent ABCL's ecosystem and CRISIL AAA rating

💡 Investors should monitor the company's cost of funds and interest margins, as these high credit ratings enable access to low-cost short-term liquidity for its margin trade funding business.

Aditya Birla Money Shareholders Approve Increase in Authorised Share Capital at 30th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 31 Jul 2026, 06:46 PM

Aditya Birla Money Limited (ABML) concluded its 30th Annual General Meeting on July 30, 2026, with all three proposed resolutions passing with over 99.99% majority. Key approvals included the adoption of FY26 audited financial statements and the re-appointment of Mr. Gopi Krishna Tulsian as Director. Significantly, shareholders approved an increase in the company's Authorised Share Capital, providing the board with flexibility for future equity-related actions, though the specific new limit was not detailed in the voting summary.

All 3 resolutions passed with a 99.9986% majority of votes polled.
Total of 4,15,94,624 votes were polled across promoter and public categories.
103 shareholders attended the meeting via video conferencing, including 1 promoter representative.
Record date for voting eligibility was July 23, 2026, with 42,755 total shareholders.
Promoter group, holding 4,15,50,000 shares, voted 100% in favor of all resolutions.

💡 Investors should monitor subsequent filings for the specific new limit of the Authorised Share Capital and any potential announcements regarding equity fundraises or rights issues, which may be intended to address the high Debt-to-Equity ratio of 7.33.

Rs 2,500 Cr Commercial Paper Rating Reaffirmed at CRISIL A1+; Limit Enhanced

🟢 POSITIVE ⭐ 6/10

OTHER 📅 30 Jul 2026, 05:41 PM

CRISIL has reaffirmed the highest short-term rating of 'A1+' for Aditya Birla Money's Commercial Paper program. The total issue size has been increased by Rs 150 Crore, from Rs 2,350 Crore to Rs 2,500 Crore. This enhancement is significant as the total borrowing limit now represents approximately 338% of the company's current market capitalization of Rs 738 Crore. The rating reflects strong parentage support from Aditya Birla Capital Limited, which ensures liquidity and credit stability.

CRISIL A1+ rating reaffirmed for Commercial Papers as per letter dated July 29, 2026
Issue size enhanced by Rs 150 Crore to a total of Rs 2,500 Crore
Total borrowing limit (Rs 2,500 Cr) is ~14.5x the TTM revenue of Rs 172 Cr
Company maintains a high Debt-to-Equity ratio of 7.33 as per latest financial context

💡 Monitor the utilization of the enhanced borrowing limit and its impact on interest costs and the growth of the Margin Trade Funding (MTF) book in upcoming quarterly results.

BIRLAMONEY Approves Increase in Authorized Share Capital at 30th AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 30 Jul 2026, 04:19 PM

Aditya Birla Money Limited concluded its 30th Annual General Meeting on July 30, 2026, with shareholders approving all proposed resolutions. Key outcomes include the adoption of FY26 audited financial statements and the re-appointment of Mr. Gopi Krishna Tulsian as a Non-Executive Director, specifically allowing his continuation beyond the age of 75. Most notably, shareholders approved an increase in the company's Authorized Share Capital, which provides the legal headroom for potential future equity issuance. This comes at a time when the company maintains a high debt-to-equity ratio of 7.33 and a net worth of Rs 301 Cr.

30th Annual General Meeting held on July 30, 2026, via video conferencing.
Shareholders approved the increase in Authorized Share Capital and consequent alteration of the Memorandum of Association.
Special Resolution passed for the re-appointment of Mr. Gopi Krishna Tulsian (DIN: 00017786) beyond the age of 75.
Remote e-voting period was conducted between July 27, 2026, and July 29, 2026.
All resolutions were passed with the requisite majority as per the Scrutinizer's oversight.

💡 Watch for subsequent board announcements regarding the specific quantum of the authorized capital increase and any potential fund-raising or equity dilution plans.

Rs 11.13 Cr PAT: Aditya Birla Money Q1 Profit Drops 27.6% YoY Despite 16% Revenue Growth

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 14 Jul 2026, 06:48 PM

Aditya Birla Money Limited reported a 16% YoY increase in total revenue to Rs 130.77 Cr for Q1 FY27. However, Net Profit (PAT) declined significantly by 27.6% to Rs 11.13 Cr, down from Rs 15.38 Cr in the same quarter last year. This decline was driven by a sharp contraction in operating margins, which fell to 11.78% from 18.25% YoY, primarily due to a 38% surge in finance costs and higher employee expenses. The broking segment's profitability was particularly hit, with segment results falling 82% YoY despite higher volumes.

Total Revenue from Operations grew 16% YoY to Rs 130.77 Cr for the quarter ended June 30, 2026.
Net Profit After Tax (PAT) fell 27.6% YoY to Rs 11.13 Cr from Rs 15.38 Cr.
Operating Margin contracted sharply to 11.78% compared to 18.25% in the previous year's quarter.
Finance costs increased by 38.2% YoY to Rs 43.67 Cr, impacting the bottom line.
Broking segment profit plummeted to Rs 1.01 Cr from Rs 5.69 Cr YoY, a decline of 82%.

💡 Investors should monitor the company's ability to manage rising borrowing costs and operational expenses, as the broking segment is showing significant margin pressure despite revenue growth.

Aditya Birla Money Submits Routine Q1 FY27 Dematerialization Compliance Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 09 Jul 2026, 03:13 PM

Aditya Birla Money Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The document, issued by Registrar and Share Transfer Agent Cameo Corporate Services Limited, confirms that physical share certificates received for dematerialization were processed and cancelled as per regulations. This is a standard administrative filing required of all listed companies to ensure the integrity of the shareholding records. There is no impact on the company's financial position or business operations.

Quarterly compliance completed for the period ended June 30, 2026
Confirmation certificate received from RTA dated July 04, 2026
Verification and mutilation of physical certificates confirmed within stipulated time limits
Substitution of depository names in the register of members completed for the quarter

💡 No action is required as this is a routine regulatory filing. Investors should monitor the upcoming Q1 FY27 earnings results for material business updates.

Aditya Birla Money to hold 30th AGM on July 30, 2026; Annual Report FY26 released

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jul 2026, 06:07 PM

Aditya Birla Money Limited has scheduled its 30th Annual General Meeting (AGM) for July 30, 2026, at 12:00 PM via video conferencing. The company has released its Annual Report for the financial year 2025-26 and is providing web-link access to shareholders who have not registered their email addresses. This is a standard regulatory procedure following the end of the fiscal year. Investors should use this report to analyze the company's performance, including its 0.08% market share and the 11.64% net profit margin reported in H1 FY26.

30th Annual General Meeting scheduled for July 30, 2026, at 12:00 Noon IST
Annual Report for FY 2025-26 made available via electronic link for all shareholders
Shareholders as of the record date of July 03, 2026, were included in the initial electronic dispatch
Company maintains a network of 41 branches and 793 franchisees as of the latest operational update
TTM revenue stands at Rs 172 Cr with a high dependence on broking income (75% of segment revenue)

💡 Investors should download and review the FY 2025-26 Annual Report to assess management's commentary on the 19% YoY revenue drop in the broking segment and the progress of the Wholesale Debt Market expansion.

BIRLAMONEY to Increase Authorised Share Capital by ₹300 Cr to ₹333 Cr; AGM on July 30

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 07 Jul 2026, 04:41 PM

Aditya Birla Money has issued a notice for its 30th AGM, proposing a massive 10x increase in its authorised share capital from ₹33 crore to ₹333 crore. This includes a ₹10 crore increase in equity share capital and a significant ₹290 crore increase in preference share capital. Given the company's high debt-to-equity ratio of 7.33 and a net worth of ₹301 crore, this move is a clear precursor to a substantial capital infusion. Investors should monitor the AGM for details on the specific fundraise mechanism, such as a rights issue or private placement.

Proposed increase in total authorised share capital from ₹33 Cr to ₹333 Cr (a 909% increase)
Preference share capital component to rise by ₹290 Cr, reaching a total of ₹316 Cr
Equity share capital component to rise by ₹10 Cr, reaching a total of ₹17 Cr
AGM scheduled for July 30, 2026, with a voting cut-off date of July 23, 2026
Re-appointment of Mr. Gopi Krishna Tulsian as Director, who has attained 75 years of age

💡 Watch for the outcome of the AGM on July 30 and subsequent board announcements regarding the specific terms, pricing, and timing of the expected fundraise.

Aditya Birla Money to Close Trading Window from July 01, 2026 for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Jun 2026, 04:07 PM

Aditya Birla Money Limited has announced the closure of its trading window starting July 01, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the announcement of the unaudited financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons, including directors and employees, until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be communicated at a later time.

Trading window closure commences on July 01, 2026, for the quarter ending June 30, 2026.
Restriction applies to all Designated Persons and their immediate relatives as per SEBI regulations.
The window will reopen 48 hours after the declaration of the quarterly financial results.
The board meeting date for result consideration is yet to be announced.

💡 This is a routine regulatory announcement and has no direct impact on the company's stock valuation. Investors should monitor for the upcoming board meeting date to prepare for the Q1 financial performance update.

Aditya Birla Money Approves 10x Increase in Authorized Share Capital to ₹333 Crore

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 25 Jun 2026, 07:40 PM

The Board of Aditya Birla Money has approved a massive increase in its authorized share capital from ₹33 crore to ₹333 crore. This expansion includes increasing the equity share limit from 7 crore to 17 crore shares and the preference share limit from 26 lakh to 3.16 crore shares. Such a significant structural change typically precedes a major fundraising event like a rights issue or private placement. The proposal is now subject to shareholder and regulatory approvals.

Total authorized share capital increased from ₹33 crore to ₹333 crore
Equity share capital base expanded by 10 crore additional shares of Re. 1 each
Preference share capital base increased by 2.9 crore additional shares of ₹100 each
Amendment to Clause V of the Memorandum of Association approved by the Board
The move signals potential upcoming capital infusion to support business growth

💡 Investors should stay alert for upcoming announcements regarding the specific mode of fundraising, as this capital increase is a preparatory step. Monitor the potential for equity dilution and how the company intends to deploy the new capital.

Aditya Birla Money: Head of Derivative Research Hemant Thukral Resigns Effective May 26, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 27 May 2026, 07:45 PM

Aditya Birla Money Limited has announced the resignation of Mr. Hemant Thukral, who served as the Head of Derivative Research and was classified as Senior Management Personnel (SMP). The resignation was effective from the close of business on May 26, 2026, and was attributed to personal reasons. The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Hemant Thukral resigned from his position as Head - Derivative Research.
The resignation is effective from May 26, 2026.
The departure is classified under changes in Senior Management Personnel (SMP).
The reason cited for the resignation is personal reasons.

💡 This is a routine management change at the departmental level; investors should monitor for the appointment of a successor to ensure continuity in research operations.

SEBI Issues Administrative Warning to Aditya Birla Money Over Cyber Security Framework

🔵 WATCH ⭐ 6/10

REGULATORY 📅 28 Apr 2026, 04:30 PM

Aditya Birla Money Limited received an administrative warning from SEBI on April 27, 2026, following a thematic inspection conducted in February 2026. The regulator's observations specifically target lapses in cyber security, cyber resilience, and the company's technical glitch framework. While the company is currently implementing corrective measures, management has stated that there is no immediate impact on financials or operations. Investors should monitor the company's ability to resolve these technical compliance issues to avoid further regulatory scrutiny.

SEBI issued an administrative warning letter dated April 27, 2026, following a February 2026 inspection.
Observations pertain to deficiencies in cyber security, cyber resilience, and technical glitch frameworks.
The company confirmed the warning has no quantifiable impact on its financial or operational activities.
Corrective actions have been initiated by the company to address SEBI's observations within specified timelines.

💡 Investors should maintain their positions but monitor for any future technical disruptions that could indicate unresolved infrastructure issues. The current warning is administrative and non-financial, but persistent lapses could lead to stricter penalties.

Aditya Birla Money Head of Broking & Retail Saurabh Shukla Resigns After 15 Years

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 27 Apr 2026, 06:09 PM

Mr. Saurabh Shukla, the Head of Broking & Retail Business at Aditya Birla Money Limited, has tendered his resignation to pursue external opportunities. His departure is effective from April 30, 2026, marking the end of a 15-year tenure with the organization. As a member of the Senior Management Personnel (SMP), his exit from a core business vertical is a significant leadership change. The company has not yet announced a successor for this critical retail-facing role.

Mr. Saurabh Shukla resigns as Head - Broking & Retail Business effective April 30, 2026
The outgoing executive had a long-standing association of 15 years with the Aditya Birla Group
The resignation was disclosed under Regulation 30 of SEBI (LODR) Regulations, 2015
The departure is to pursue career opportunities outside the organization

💡 Investors should monitor the company's announcement regarding a successor to ensure leadership continuity in the retail brokerage segment. No immediate portfolio changes are recommended, but the transition's impact on retail growth should be watched.

View All BIRLAMONEY Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total segment revenue for H1 FY26 was INR 219.21 Cr, a decrease of 11.06% YoY. The Broking segment revenue fell 19.17% to INR 164.39 Cr, while the Wholesale Debt Market (WDM) segment grew 28.01% to INR 53.33 Cr. Other segments contributed INR 1.49 Cr, up 3.03% YoY.

Geographic Revenue Split

Not disclosed in available documents, though the company operates through 41 branches and 793 franchisees across India as of September 30, 2025.

Profitability Margins

Net profit margin for H1 FY26 was 11.64%, a significant decline from 17.68% in H1 FY25. For the full fiscal year 2025, the company reported a net profit of INR 74.19 Cr, representing a 40% increase from INR 52.97 Cr in FY24.

EBITDA Margin

Operating profit before working capital changes for H1 FY26 was INR 101.24 Cr, down 15.4% from INR 119.67 Cr in H1 FY25. The core profitability margin (operating profit/total income) stood at approximately 46% for H1 FY26.

Capital Expenditure

Capital expenditure for H1 FY26 was INR 4.46 Cr, an increase of 63.9% from INR 2.72 Cr in H1 FY25, primarily for property, plant, and equipment including CWIP.

Credit Rating & Borrowing

CRISIL reaffirmed its 'CRISIL A1+' rating for the commercial paper programme, with the rated amount enhanced to INR 2,350 Cr in November 2025. Borrowings are primarily via commercial paper with INR 1,850 Cr outstanding as of October 31, 2025.

⚙️ Operational Drivers

Raw Materials

Not applicable for financial services; however, interest expense is the primary operational cost, totaling INR 61.59 Cr in H1 FY26, representing 28% of total revenue.

Capacity Expansion

Current physical capacity includes 41 branches and 793 franchisees as of September 30, 2025. Planned expansion details are not disclosed.

Raw Material Costs

Interest costs rose 4.5% YoY to INR 61.59 Cr in H1 FY26. Procurement of funds is managed through commercial paper and bank lines.

Manufacturing Efficiency

Not applicable; the company maintains an active client market share of approximately 0.08% with 39,524 active customers as of September 30, 2025.

📈 Strategic Growth

Growth Strategy

Growth is driven by leveraging the Aditya Birla brand and parent ABCL's ecosystem to expand the distribution of mutual funds, insurance, and loans. The company is also scaling its Wholesale Debt Market segment, which grew 28% YoY in H1 FY26.

Products & Services

Equity broking, commodity broking, depository services, margin trade funding, Portfolio Management Services (PMS), and distribution of mutual funds, insurance, and loans.

Brand Portfolio

Aditya Birla Money

New Products/Services

PMS and distribution of Aditya Birla group company products like loans and insurance are key growth areas.

Market Expansion

Expansion through a network of 793 franchisees and 41 branches across India.

Market Share & Ranking

Active client market share is approximately 0.08% as of September 30, 2025.

Strategic Alliances

Strong parentage support from Aditya Birla Capital Ltd (ABCL), which holds a 73.53% stake.

🌍 External Factors

Industry Trends

The broking industry is facing a dynamic regulatory environment with SEBI focusing on transparency and safeguarding investor funds, which increases compliance costs for brokers.

Competitive Landscape

Highly competitive and fragmented market; ABML competes with both traditional and discount brokers with a 0.08% market share.

Competitive Moat

Durable advantage stems from the 'Aditya Birla' brand name and strong moral and financial support from parent ABCL (rated CRISIL AAA), which ensures liquidity and credit stability.

Macro Economic Sensitivity

Highly sensitive to capital market cycles; revenue is inherently volatile due to dependence on trading volumes.

Consumer Behavior

Increasing demand for transparent and technology-driven depository and broking services.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with SEBI Listing Regulations and Indian Accounting Standards (Ind AS). SEBI's objective of limiting misuse of funds requires continuous adaptation of business models.

Environmental Compliance

ESG initiatives include the elimination of non-recyclable plastic in offices and monitoring air conditioning equipment to reduce energy consumption.

Taxation Policy Impact

Direct taxes paid (net of refunds) were INR 12.94 Cr in H1 FY26, up 3.8% from INR 12.47 Cr YoY.

⚠️ Risk Analysis

Key Uncertainties

Revenue volatility due to 75% exposure to capital market-related broking income. Regulatory changes could further increase compliance costs and impact business model viability.