Page 2 - Aditya Birla

India's $100-billion mcap club grows to eight with three new entries

The Aditya Birla group has seen its market value jump by more than 50 per cent, making it the latest entrant to the $100-billion club

ABFRL Q4 results: Net loss at Rs 266.35 crore, revenue at Rs 3,406.65 cr

Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 266.35 crore for the fourth quarter ended March 2024. The company had posted a net loss of Rs 194.54 crore during the January-March quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL). Its revenue from operations was at Rs 3,406.65 during the quarter under review against Rs 2,879.73 crore in the year-ago period. According to the Aditya Birla group firm, the consolidated financial results for the quarter that ended March 31, 2024, are "not comparable with previous quarters" pursuant to the acquisition of TCNS Clothing and Styleverse Lifestyle. Its total expenses were at Rs 3,813.87 crore in the March quarter. The established businesses continue to navigate market headwinds while maintaining a sharp focus on profitability enhancement, said ABFRL in an earning statement. Its revenue from the 'Madura Fashion & Lifestyle' segment was at Rs 1,861.75 crore. ..

Aditya Birla Capital Q4 result: Consolidated net profit up 33% at Rs 812 cr

The company's consolidated revenue grew by 32% Y-o-Y to Rs 12,079 cr

Fundraise of Rs 18,000 cr 'fresh lease of life' for Vi, says KM Birla

Aditya Birla Group chairman Kumar Mangalam Birla on Thursday said the Rs 18,000-crore fundraise by Vodafone Idea is a "fresh lease of life" for the company and asserted that the telco will stage a smart comeback. The company, which has been struggling to hold on to subscribers amid aggressive play by bigger rivals Reliance Jio and Bharti Airtel, will focus on increasing its network, densifying it and also selectively introduce 5G services, Birla told reporters at the listing ceremony of Vodafone Idea's follow-on public offer. Calling it as the beginning of 'Vi 2.0', Birla said the money raised will be invested in the business, which will trigger a cycle of growth. "Vi will stage a smart comeback, this moment marks the beginning of Vi 2.0," Birla said at the listing ceremony. When asked if most of the problems for the company get sorted with the capital raise, Birla answered in the affirmative. "And this is like a sort of fresh lease of life for the company," he said. He credited

Birla targets top 3 spot in mutual fund, lending, and life insurance

Aims to add 30 mn users in 3 years on the back of new financial services platform

Action is in India, makes sense to focus on market here: Berger Paints CEO

Company is 'cautious' after Aditya Birla group's entry in the sector but it is not worried, says Abhijit Roy

AI can reshape socio-economic landscape of nations: Kumar Mangalam Birla

He emphasised the need to build on AI and use its potential for enhancing healthcare, agriculture, education, and other segments

TMFs: Capture current high yields by staying invested till maturity

Select a fund with a longer duration to gain from possible rate cuts next year

Aditya Birla Sun Life AMC collects about Rs 800 cr from logistics fund NFO

Aditya Birla Sun Life AMC Ltd on Wednesday said it has collected nearly Rs 800 crore through its transport and logistics scheme during the new fund offering (NFO) period. The asset management company mobilised the amount from its thematic fund -- Aditya Birla Sun Life Transport and Logistics Fund -- during the NFO period from October 27 to November 10. The fund reopened for subscription on November 21. The open-ended equity oriented thematic fund received a huge response from 53,777 investors and has garnered a total of Rs 798.89 crore, the company said in a statement. "This fund is a unique offering that captures the growth potential of the transportation and logistics sector, which is a key driver of the Indian economy. The fund aims to provide long-term capital appreciation by investing in companies that are well-positioned to benefit from the structural changes and emerging trends in the sector," A Balasubramanian, Managing Director and CEO at Aditya Birla Sun Life AMC, said. T

Aditya Birla Capital Q2FY24 result: Net profit at Rs 705 cr; income up 13%

Aditya Birla Capital Q2 result: The company's revenue from operations was up 13.04 per cent to Rs 7,720.66 crore during the quarter under review against Rs 6,829.82 crore last year

Ultratech Cement Ltd Q2FY24 result: Net profit jumps 68% YoY to Rs 1,280 cr

The revenue from operations for Q2FY24 came in at Rs 16,012.13 crore, compared to Rs 13,892.69 crore year-on-year

Birla Carbon acquires Belgium based Nanocyl for undisclosed amount

Aditya Birla group firm Birla Carbon on Wednesday announced the acquisition of Belgium-based Nanocyl SA for an undisclosed amount. The acquisition will help the Aditya Birla group firm to drive Growth in battery materials for lithium-ion batteries, said a joint statement from Birla Carbon and Nanocyl. Birla Carbon is a leading manufacturer and supplier of high-quality carbon solutions. "The acquisition expands Birla Carbon's presence in the Energy Systems market, creating a leadership position in material critical to Lithium Ion battery performance, along with other conductive applications," the statement said. The inclusion of Nanocyl's advanced multi-wall carbon nanotubes (MWCNTs) provides Birla Carbon with a remarkable range of solutions for conductive applications, it added. Financial details of the deal were not disclosed. "Birla Carbon has been nurturing a number of innovation opportunities in its effort to realise its multi-prong sustainability agenda. The acquisition of .

Aditya Birla Fashion & retail to raise Rs 750 cr on or after September 4

Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds, the company said on Thursday. The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing. "The Company proposes to raise funds by issuing 75,000 listed, unsecured, rated, redeemable non-convertible debentures of face value of Rs 1,00,000 (Rupees One Lakh only) each issued at par aggregating to Rs 7,50,00,00,000 (Rupees Seven Hundred Fifty Crores Only), on private placement basis, on or after September 4, 2023," the filing said. In a separate filing, the company said that it has completed the acquisition of a 29 per cent stake in TCNS Clothing Co Limited pursuant to the open offer. The 29 per cent stake is estimated to be over Rs 941 crore. As per an earlier announcement, ABFRL acquired a 51 per cent stake in TCNS for about Rs 1,650 crore.

UltraTech Cement FY23 sales grow by 12.4% to 105.7 million tonnes

Leading cement maker UltraTech's consolidated sales rose by 12.4 per cent to 105.7 million tonnes (MT) in FY2022-23, Aditya Birla group firm said in a regulatory filing on Saturday. The company produced 94 MT of cement in FY22. Its total sales volume in the domestic market also crossed 100 MT for the financial year that ended on March 31, 2023. UltraTech's total sales volume for the India market in FY23 was at 101.7 MT, up 13.63 per cent compared to 89.5 MT a year ago. "We are pleased to inform the company has achieved 100 million tonnes of production, despatches and sales in FY23," it said. Its grey cement production in the domestic market was at 100.1 MT in FY23, reporting 13.75 per cent growth while its white cement production was 1.5 MT, up 11 per cent. UltraTech's overseas production, mainly grey cement was 4.4 MT in FY23. For the fourth quarter that ended on March 31, 2023, UltraTech's total consolidated sales volume was at 31.7 MT and its India volume was at 30.5 MT. Ult

Aditya Birla Group expands its portfolio, adds four restaurant brands

Aditya Birla New Age Hospitality (ABNAH) has added four restaurant brands, namely Hakkasan, Yauatcha, Nara Thai, and CinCin to its portfolio

SBI Caps asks ARCs to make final offers for Vidarbha Industries' debt

Aditya Birla ARC has joined hands with Varde Partners of Singapore to acquire the company's debt, said a banking source

UltraTech Cement Q1 results: Net profit jumps 6.5%, revenue up 16.9%

The profit before interest, depreciation and tax was Rs 3,223 crore, compared to Rs 3,204 crore year-on-year (YoY)

Aditya Birla ARC leads race to buy Anil Ambani firm Vidarbha's debt

Firm is a Reliance Power subsidiary that owes Rs 2,569 cr as principal amount to banks

Aditya Birla Group to launch branded jewellery retail business in India

The company will invest Rs 5,000 crore to set up large-format exclusive jewellery retail stores with in-house jewellery brands across the country

Hindalco likely to hike domestic capex in FY24 on robust demand

Company has spent Rs 2,700 crore in India in FY23, MD Satish Pai said; will be higher next year