aditya birla group : a strong parentage · pdf file2 our values – integrity, commitment,...
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2 Our Values – Integrity, Commitment, Passion, Seamlessness, Speed
Aditya Birla Group : A strong parentage
A USD 40 billion Indian multinational, Aditya Birla Group is in the league of fortune 500
Operating in 36 countries across 6 continents deriving over 50% of revenue from overseas operations
Among the largest and the most reputed business houses in India
Flagship listed companies: Aditya Birla Nuvo (Conglomerate), Grasim & Ultratech (VSF & Cement),
Hindalco - Incl. Novelis (Aluminium & Copper), Idea Cellular (Telecom)
Ranked 4th in global top companies for leaders & 1st in Asia Pacific (Source: Aon Hewitt, Fortune Magazine & RBL - 2011)
Ranked 1st in Nielsen’s Corporate Image Monitor 2014-15 – Occupying pole position for 3 consecutive years
Anchored by 120,000 employees from 42 nationalities. Trusted by 1.2 Mn shareholders & 160 Mn customers
In India
Leadership Aluminium, Cement, Carbon Black, VSF, VFY,
Position Branded Apparels, Copper, Chlor-alkali,
Insulators (in terms of capacity/production/sales)
Top 3 Telecom (in terms of wireless revenue market share)
Top 5 Life Insurance (in private sector in terms of AUM)
Asset Management (in terms of average AUM)
Global positioning
Largest Indian MNC with manufacturing operations in the US Aluminium World’s largest aluminium rolling unit
VSF World’s largest manufacturer
Carbon Black World’s largest in terms of capacity
Cement Among top 10 manufacturers in the world
3
Aditya Birla Financial Services
A significant non-bank financial services group
4
Aditya Birla Financial Services (ABFS)
Note 1 : Includes AUM of Life Insurance, Private Equity and quarterly average AUM of Asset Management business
Market Positioning
Among the top 5 fund
managers in India
AUM
USD 27.5 billion1
(` 164,995 Crore : 35%↑ y-o-y)
NBFC Lending Book
USD 3 billion
(` 17,550 Crore : 52%↑ y-o-y)
Diversified Portfolio
Having 10 lines
of businesses
Revenue
USD 1.3 billion
(` 7,926 Crore : 19%↑ y-o-y)
Earnings before Tax
USD 141 million
(` 849 Crore : 17%↑ y-o-y)
A significant non-bank financial services group
5
To be a
leader and
role model in a
broad based and
integrated financial services
business
ABFS : Our Vision
Committed to being a leader in all facets of our businesses
Building leadership on pure merit, endeavour to be best in class
Striving to meet all the life & health assurance, savings, wealth
management and financing needs of customers
Integrated play to gain competitive edge and derive synergies
6
ABFS is progressing as envisioned
1991 2001
2014
2015
Consolidation of
financial services
businesses under one
Aditya Birla Nuvo
Acquisition of Alliance
mutual fund
Foray in Housing Finance business
Acquired mutual fund schemes & portfolio
accounts from ING Mutual Fund
IFC became strategic financial investor in
MyUniverse
Signed MoU with MMI Holdings to enter
health insurance business in India
Building leadership position, entering strategic partnerships and investing in promising sectors
1994
Foray in Mutual
Fund business
2005
2011-12
2008
Foray in Life Insurance
business through JV
with Sun Life, Canada
Foray in the
NBFC business
Entered retail
broking through
acquisition of
Apollo Sindhoori
Launched India’s
largest online money
management portal
“MyUniverse”
Diversified with 10 lines of businesses
AUM reaches USD 27.5 billion
Lending book reaches USD 3 billion
2010-11
Launched Private
Equity Fund
1999
Acquisition of
schemes of Apple
mutual fund
7
Among the top 5 fund managers in India
Managing assets worth ` 1,64,995 Crore and lending book worth ` 17,550 Crore
Diversified portfolio with 10 lines of businesses*
Anchored by 10,700 employees & trusted by over 6 million customers
Nation wide customer reach through 1,350 branches / touch points and 127,500 agents / channel partners
ABFS : A significant non-bank financial services group
Meeting almost all the non-banking financial products and services requirements of customers
We
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Broad based and Integrated Play
Power of One
*Signed MoU with MMI holdings (a leading South African insurance based financial services group) to enter health insurance business in India
8
ABFS : Sound growth in AUM and earnings
3,500
4,778
5,860 6,304 6,542 6,378 6,637
7,926
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15
( ` Crore)
Revenue
-393
-645
-309
368 600
761 727 849
FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15
( ` Crore)
Earnings before Tax
( ` Crore)
Assets under Management
51,445 57,825
83,471 88,309 88,371 1,07,539
1,22,362
1,64,995
Mar'08 Mar'09 Mar'10 Mar'11 Mar'12 Mar'13 Mar'14 Mar'15
9
Aditya Birla Finance (NBFC) (100%)
Aditya Birla Housing Finance (100%)
Birla Sun Life Asset Management (51%)
Aditya Birla Private Equity (100%)
Aditya Birla Insurance Brokers (50.01%)
Aditya Birla Money (75%) #
Aditya Birla Money Mart (100%)
Aditya Birla Money MyUniverse (100%)
Aditya Birla Financial
Services Ltd.
Aditya Birla Nuvo
Limited (ABNL) #
Birla Sun Life
Insurance Co. Ltd.
74% 100%
ABFS : Our Brands and Structure
Note : Percentage figures indicated above represent ABNL’s shareholding in its subsidiaries
# Listed
10
Aditya Birla Finance Limited
A leading NBFC in India
11
Aditya Birla Finance Limited (ABFL)
Market Positioning
One of the India’s pioneer &
most reputed NBFCs
Experienced Management
Over 200 man years of domain
expertise in financial services
Lending Book
USD 3 billion
(6 years CAGR @ 75%)
Well Diversified Portfolio
Mortgages, Corporate Finance,
Capital Market, Infrastructure
Finance and Debt Syndication
Strong Parentage Support
Capital Infusion of ` 1,720 Crore
in past 6 years to support growth
Robust Risk Management
Leading to healthy book and
Return ratios
A leading NBFC in India
12
ABFL : Journey
1991
2009
2015
Diversified its portfolio and expanded its lending book while keeping risk under control
2005
2014
2011-12
2013
Foray in NBFC business-
Engaged in Capital Market &
Corporate Finance segments
Lending book reaches
USD 3 billion
BGFL was merged with
Aditya Birla Nuvo – a move to
consolidate financial services
businesses under one roof
Certified as ISO 9001:2008 across all
its core functional processes by BSI,
a leading global independent
business services organization
India Ratings &
Research assigns long
term rating of AA+ &
short term rating of A1+
ICRA upgrades long
term rating to AA+
Diversified its portfolio by
foray in Mortgages & Infra
Finance segments
BGFL renamed as
Aditya Birla Finance
13
Customized financing solutions
to meet working capital and
growth finance needs of SMEs,
mid and large corporate clients
Customized property backed
loans to fund growth capital
requirements for business
Providing finance against
capital market securities to the
customers to meet their
liquidity requirements
Project & structured funding to
infrastructure & other emerging
sectors. Debt syndication team
help raise debt & equity funding
ABFL : Product Suite
Corporate Finance Mortgages Capital Market Infrastructure Finance
SME Loans
Structured Finance
Working Capital Loans
Term Loans
Supply Chain Financing
Solutions
Corporate Bills
discounting
Treasury Risk Solutions
Loan Against Property
Lease rental discounting
Construction Finance
Commercial property
purchase loan
Loan against shares
Promoter Funding
Loan against mutual fund
Loan against Life
Insurance policies
IPO financing
Margin trade funding
ESOP financing
Project Finance
Mezzanine Finance
Bridge Finance
Corporate Loans
Loan syndication
Debt Capital Market
14
ABFL : Growth and diversification of lending book
Lending book reached USD 3 billion mark
Grew at a robust CAGR of 75% since Mar’09
Built a well diversified portfolio for
sustainable growth
Strong capital support from parent &
internal accruals funding growth
Net worth grew 12x from ` 211 Crore
in Mar’09 to ` 2,585 Crore in Mar’15
Capital of ` 1,720 Crore was infused
during this period to support growth
More than 80% of lending book is secured
600 900 1,850
3,425
8,000
11,550
17,550
Mar'09 Mar'10 Mar'11 Mar'12 Mar'13 Mar'14 Mar'15
Lending book
(` Crore)
Capital Market 24%
Corporate Finance
23% Infra Finance
23%
Mortgages 29%
Others 1%
FY15
Capital Market
55%
Corporate Finance
16%
Others 29%
FY09
15
ABFL : Robust growth in earnings and book value
143 142 196 348
715
1,201
1,776
FY09 FY10 FY11 FY12 FY13 FY14 FY15
Revenue
(` Crore)
44 46 55 84
147
251
411
FY09 FY10 FY11 FY12 FY13 FY14 FY15
Earnings Before Tax
(` Crore)
30 30 37 56
100
166
271
FY09 FY10 FY11 FY12 FY13 FY14 FY15
Net Profit after Tax
(` Crore)
211 235 497 628
1,079
1,769
2,585
FY09 FY10 FY11 FY12 FY13 FY14 FY15
Net Worth
(` Crore)
16
Return on average Assets (ROA)
(%)
2.11% 2.19%
1.92% 1.85%
2.00%
FY11 FY12 FY13 FY14 FY15
ABFL : Healthy Credit Quality and Return Ratios
Growth accompanied by robust credit appraisal and risk management practices
Opex to Net Interest Income
(%)
39%
35% 36%
31% 29%
FY11 FY12 FY13 FY14 FY15
Return on average Equity (ROE)
(%)
10.2% 11.4%
14.3% 13.1%
14.6%
FY11 FY12 FY13 FY14 FY15
1.16% 1.23% 1.29%
0.90%
0.84% 0.83%
0.58%
0.32%
FY12 FY13 FY14 FY15
Gross NPA Net NPA
Provision
Coverage Ratio 28% 33% 55% 64%
17
FY12-13 FY13-14 FY14-15
Total Income / Average Loan Book 13.8% 13.5% 13.1%
Interest Cost / Average Loan Book 8.4% 8.3% 8.2%
Net Interest Income (Incl. Fee income) 5.4% 5.1% 5.0%
Opex / Average Loan Book 1.9% 1.5% 1.5%
Provisioning & Write-offs / Average Loan Book 0.6% 0.8% 0.5%
ROA 1.92% 1.85% 2.0%
Spread Analysis
NPA provisioning norms at ABFL are more stringent than RBI norms for NBFCs
Provision in excess of RBI norms is ` 49 Crore as on 31st Mar’15
18
FY12-13 FY13-14 FY14-15
Capital Adequacy Ratio (Minimum 15% as per RBI) 17.51% 18.54% 16.94%
Tier-I 12.92% 14.47% 13.98%
Tier-II 4.59% 4.07% 2.96%
Borrowings (` Crore) 6,867 9,647 14,594
Leverage (x) 6.4x 5.5x 5.6x
No. of Employees 247 343 394
Average Revenue per Employee (` Crore) 3.2 4.1 4.8
Summary and Key Ratios
Healthy borrowings Profile
Long term debt rating of AA+ from ICRA, CARE & India Ratings
A1+ rating for short term debt
Out of total borrowings 73% is long term
Well placed ALM strategy
Term Loans (Banks)
44%
Cash Credit / WCDL
11%
CP's 16%
NCD's 25%
Sub Debt 4%
Borrowings Mix (31st Mar’15)
19
Presence expanded from 9 cities in
2011 to 21 cities in 2015
Targeting to expand the reach to
30 cities in next two years
Deepening penetration in
current & new geographies with
multi locations
A balanced mix of Tactical and
above the line marketing for greater
Brand Awareness
Delhi / Noida / Gurgaon
Pune
Chennai
Ahmedabad
Bengaluru
Chandigarh
Jaipur
Ludhiana
Kolkata
Surat
Rajkot Indore
Raipur
Hyderabad
Nagpur
Coimbatore
Mumbai /
Navi Mumbai
Expanding Foot Print & increasing brand awareness
Bhubaneswar
20
ABFL : Key Enablers for future growth
Corporate Finance Mortgages Capital Market Infrastructure Finance
Focus on structured
funding & syndication in
strength areas
Build a strong SME
vertical
Leverage existing
customer base through
direct marketing
Capitalising on Aditya
Birla Group ecosystem for
supply chain funding
Loan Against Property
Deeper penetration in
current geographies with
multiple locations
Expanding retail book
through DSA
Lease rental discounting
Focus on large ticket
transactions with premier
customers
Construction Finance
Deeper relationships with
top developers
Enhancing geographical
footprint across locations
Keeping focus on existing
relationships in promoter
segment with selective
Mid-cap Promoter funding
& Structured Finance
Augment online
capabilities to build retail
customer base
Focus on customer
retention & enhanced
utilisations
Upsizing exposure to
known pedigreed
corporate groups
Moving up the customer
value chain through
• Underwriting &
syndication to provide
one stop solution
• DCM transactions to
facilitate penetration in
the low risk NCD/Bond
Market
Enablers across segments to support planned growth
Expanding product portfolio Effective use of technology to enhance productivity
Broad base liability mix Leveraging preferred employer brand to attract & retain talent
Other enablers for future growth
21
Experienced Management Team
Rakesh Singh, Chief Executive Officer
21 years of financial services experience with domain expertise in SME & commercial finance, Commercial Real Estate &
Mortgage Lending, consumer lending products, capital market offerings & wealth management products
Joined ABFL as CEO in July 2011 and in a short span has transformed the business. Prior to this he has spent 16 years in
Standard Chartered Bank including as Value Centre General Manager & Head – SME Banking business India & South Asia.
Director on the Board of Aditya Birla Housing Finance Limited
Member of CII and FICCI. Honorary Member on the Advisory Board of London Education Management Consultants. On the
Board of studies for Narsee Monjee Institute of Management Studies
Executive Program in Business management from IIM Calcutta, MBA (Marketing) & Post graduation in International Relations
from University of Lucknow
Tushar Shah, Chief Executive Officer, Infrastructure Project & Structured Finance
20 years of relevant experience in financial services
Under his leadership, Aditya Birla Finance has taken rapid strides in Project linked lending, Structured Finance, Debt Capital
Markets & Syndication.
Prior to joining Aditya Birla Finance in 2011, Tushar was the Chief Operating Officer of IL&FS Financial Services Ltd, where he
was responsible for business development and managed debt assets of USD 1.6 billion
Bachelor of Law from Mumbai University & member of the Institute of Chartered Accountants of India since 1988
Sachinn Joshi, Chief Financial Officer
More than two decades of rich experience in financial services
As a CFO of ABFL, he is responsible for providing strategic leadership to the function
A 12 year stint with IL&FS Investsmart Ltd. as CFO, COO & Executive Director –Finance & Operations
Worked as Executive Director & CFO at Angel Group as part of the core team responsible for all strategic business decisions
Business Leadership Program from IIM Calcutta, a law graduate and a qualified Chartered Accountant and Cost Accountant
22
Board of Directors
Mr. Bishwanath Puranmalka
Mr. Puranmalka has many years of experience in implementation and running of Viscose Staple Fibre plant at Nagda
(M.P.), Urea plant in U.P., Copper Smelter in Gujarat and Exports Division of Grasim in Delhi.
He has also looked after the development of Captive Power Plants
Qualification : F.C.A., F.C.S. and L.L.B
Mr. Darius J. Kakalia
As a commercial Lawyer, Mr. Kakalia has an extensive transaction practice and court practice with expertise in corporate
commercial matters, setting up of Joint Ventures, Mergers and Acquisitions, ADR’s and GDR’s as well as real estate
transactions and disputes and litigations related to these sectors and areas of practice.
Over the years he has specialized in the power sector, acting for large Power Companies and has advised consortiums for
the bids with respect to the 4000 Mw Ultra Mega Power projects that have recently been proposed by the Power
Corporation of India. He has regularly appeared before the MERC, the Bombay High Court and in the Supreme Court of
India with respect to various litigations relating to disputes in the power sector.
Qualification : B. Com, L.L.B.
Mr. Ajay Srinivasan
Mr. Srinivasan has rich and vast experience of 20 years in Financial Services Sector.
He was previously with Prudential Corporation Asia as the Chief Executive, Fund Management, based in Hong Kong. He
was with Prudential Corporation since 1998 and has held various positions starting as managing Director, Prudential ICICI
Asset Management Company Ltd. He moved to set up Prudential’s Fund Management business in Asia in 2001 and from a
standing start expanding the business to 10 markets and to become one of the leading fund managers in Asia with close to
US$ 70 Billion in Funds under management.
Qualification : M.B.A. from IIM-Ahmedabad
23
Board of Directors … Continued
Mr. Jitender Balakrishnan
Mr. Balakrishnan is an Adviser to IDBI Bank and was Deputy Managing director and group head of IDBI Bank, responsible
for complete credit advances of USD 25 billion. He served as a member on IDBI’s Credit Committee, Asset Liability
Management Committee and investment Committee.
He has wide experience in sectors like Oil and Gas, Refineries, Power, Telecom, Airports, Roads, Ports, Steel, Cement,
Fertilizers, Petrochemical, Hotel, Pharmaceuticals, Paper.
Qualification : B.E. (Mech) from National Institute of Technology (NIT), Madras University. Post Graduate Diploma in
Industrial Management, Bombay University
Mr. Ashwani Kumar Puri
He is a financial and accounting professional with extensive experience in investment/ acquisition and advisory services,
valuation and decision analysis, business and financial restructurings, dispute analysis and forensics.
He was with PriceWater House Coppers for 34 years, 22 of these as Partner/ Executive Director and has served in various
positions. His select Financial Services Clients include Asian Development Bank, Asset Reconstruction Company (India)
Limited, Cerberus, Citigroup, Deutsche Bank, ICICI bank, IDBI, IFCI, Industrialization Fund for Developing Countries/
Denmark, Standard Chartered Bank, USAID, WL Ross & World Bank.
Qualification : Chartered Accountant, the Chartered Institute of Management Accountants, London
Ms. Alka Barucha
Ms. Barucha began her career with Mulla & Mulla & Craigie Blunt & Caroe and joined Amarchand & Mangaldas as partner
in 1992. In 2008, she co-founded Bharucha & Partners which, since inception, has been ranked by RSG Consulting, London
among top 30 firms in India. For years Ms. Alka has been ranked by Chambers Global, Legal 500 and Who’s Who Legal
etc. amongst India’s leading lawyers.
Her core areas of expertise are M&A, joint venture, private equity, banking & finance, establishment of mutual funds,
providing regulatory advice to FIIs, foreign venture capital investors, merchant bankers & other financial intermediaries. She
has experience in financial services, telecommunications, power & logistics sector and has also represented trans-national
corporations for investments in retail, defence & manufacturing space.
Qualification : B.A. (Hons) and LL.B from University of Bombay & LL.M from University of London. She is also practicing as
a Solicitor, High Court, India and Supreme Court of England and Wales.
24
Aditya Birla Finance Limited
Business Segments
25
ABFL : Capital Market Portfolio
Market Leader
Crossed ` 4,000 Crore mark
Portfolio diversification, client
selection & active management
key to sustainable growth
Securities based lending market size has doubled in 4 years
ABFL improved its ranking from # 6 in 2011 to # 1 in Dec’14 and
its market share has almost doubled
Focus on HNI segment
Broad base sourcing channel & asset classes
Selective underwriting and active review of loan book
Gross disbursement of ` 8,750 Crore loans in FY15
Promoter Funding
35%
Loan against bonds 11%
Broker Funding
21%
Retail Lending 33%
Capital Market Portfolio Mix
(FY15)
325 610 1,250 1,625
2,750 3,200
4,150
Mar'09 Mar'10 Mar'11 Mar'12 Mar'13 Mar'14 Mar'15
Capital Market Portfolio
(` Crore)
26
ABFL : Corporate Finance Portfolio
Reached ` 4,000 Crore mark
Leveraging Aditya Birla Group
(ABG) eco-system for supply
chain funding. Knowledge
being deployed to fund supply
chain of other large Corporate
Steady growth in loan book across key segments
Number of accounts grew more than 4 times in past four years
Large sanctioned pipeline
Focus on increasing distribution channels and footprint
Funding to ABG vendors contribute to 23% of loan book.
Gross disbursement of ` 9,100 Crore loans in FY15
100 80 450
875
1,650
2,700
4,000
Mar'09 Mar'10 Mar'11 Mar'12 Mar'13 Mar'14 Mar'15
Corporate Finance Portfolio
(` Crore)
Corporate Finance Portfolio Mix
(FY15)
Channel / Vendor Finance
22%
Bills Discounting 4%
WCDL 23%
Term Loan 51%
27
ABFL : Mortgages Portfolio
Crossed ` 5,000 Crore mark
Deepening geographical
presence in existing & new
locations
Commenced in 2011 – Grew multi-fold in past three years
Largest contributor to ABFL’s loan book
Focus on expanding retail footprint : ~ 30% of book is retail
Almost 100% of loan book is secured with NIL NPA
Key relationships established with Premier Developers
Gross disbursement of ` 3,350 Crore loans in FY15
65
1,400
2,970
5,075
Mar'12 Mar'13 Mar'14 Mar'15
Mortgages Portfolio
(` Crore)
Mortgages Portfolio Mix
(FY15)
Loan against Property
43% Lease Rental Discounting
34%
Construction Finance
16%
Commercial Purchase
7%
28
ABFL : Infrastructure Finance Portfolio
Crossed ` 4,000 Crore mark
Well diversified portfolio
across sectors
Strong focus on risk control
Commenced in 2011 – Grew multi-fold in past three years
Well diversified portfolio across products
Project Finance (50%), Corporate Loan (28%), Others (22%)
Gross disbursement of ` 2,450 Crore loans in FY15
Debt Capital Market & Debt syndication of ` 1,700 Crore in FY15
660
2,100 2,530
4,025
Mar'12 Mar'13 Mar'14 Mar'15
Infra Finance Portfolio
(` Crore)
Power Gen. Renewable
18%
Power Gen. Hydro 4%
Power Gen. Thermal
7%
Roads 8%
Power Transmission
5% Healthcare 3%
Manufacturing 13%
SEZ & Indl. Parks 4%
Others 13%
Power Distribution 2%
Ports 4%
Infra Developers 8%
Airports 2%
Logistics 6%
Infra EPC 3%
Infra Finance Portfolio Mix
(FY15)
29
Aditya Birla Finance Limited
Annexure
30
Profit & Loss
(` Crore) FY12-13 FY13-14 FY14-15
Revenue from operations 715 1,201 1,776
Other Income 5 2 4
Total Income 720 1,203 1,780
Finance Costs 439 744 1,106
Employee Benefit Expenses 61 83 114
Other Expenses 37 53 79
Depreciation & Amortisation 3 4 7
Provisions & Write offs (net) 33 68 64
Total Expenses 573 952 1,370
Profit Before Tax 147 251 411
Provision for Taxation 47 86 140
Net Profit after Tax 100 166 271
31
Balance Sheet
(` Crore) FY12-13 FY13-14 FY14-15
Equity Share Capital 146 316 450
Preference Share Capital 600 600 600
Reserves & Surplus 332 854 1,534
Net Worth 1,079 1,769 2,585
Long term borrowings 3,216 4,739 8,786
Short term borrowings 3,124 3,916 3,945
Current Portion of long term debt 527 991 1,863
Other non-current liabilities 79 183 155
Other current liabilities 178 307 623
Total Equities & Liabilities 8,203 11,906 17,957
Net Fixed Assets 12 13 18
Non-Current Investments 93 17 16
Deferred Tax Assets (net) 18 42 57
Long term loans & advances 3,416 5,347 9,446
Short term loans & advances 3,974 6,093 7,653
Current Investments 24 186 24
Other Current Assets 667 206 743
Total Assets 8,203 11,906 17,957
32
Disclaimer
Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements” including, but
not limited to, those relating to general business plans & strategy of Aditya Birla Finance Limited ("ABFL"), 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 may differ materially from these forward-looking statements due to a number of factors, including future
changes or developments in ABFL's business, its competitive environment, its ability to implement its strategies and initiatives and respond to
technological changes and political, economic, regulatory and social conditions in the countries in which ABFL conducts business. Important factors that
could make a difference to ABFL’s operations include global and Indian capital market conditions, pricing in ABFL’s principal markets, changes in
Government regulations, tax regimes, competitors actions, economic developments within India and the countries within which ABFL conducts business
and other factors such as litigation and labour negotiations.
This presentation 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 ABFL or ABNL's shares. Neither this presentation nor any other
documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an
invitation by or on behalf of ABFL / ABNL.
ABNL / ABFL, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to,
the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless
otherwise specified is only current as of the date of this presentation. ABFL / ABNL assumes no responsibility to publicly amend, modify or revise any
forward looking statements on the basis of any subsequent developments, information or events or otherwise. Unless otherwise stated in this document,
the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice
and past performance is not indicative of future results. ABNL / ABFL may alter, modify or otherwise change in any manner the content of this
presentation, without obligation to notify any person of such revision or changes. This presentation may not be copied and disseminated in any manner.
INFORMATION PRESENTED HERE IS NOT AN OFFER FOR SALE OF ANY EQUITY SHARES OR ANY OTHER SECURITY OF ABFL or ABNL
This presentation is not for publication or distribution, directly or indirectly, in or into the United States, Canada or Japan. These
materials are not an offer of securities for sale in or into the United States, Canada or Japan.
Aditya Birla Finance Limited
Corporate Identity Number U65990GJ1991PLC064603
Regd. & Corporate Office: One India Bulls Center, Tower I, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013
Website: www.adityabirlafinance.com or www.adityabirlanuvo.com Email: [email protected]
Copyright © 2015 Aditya Birla Nuvo Ltd.