Aditya Birla Sun Life AMC Ltd. Brokerage/Research Reports, analyst Research Reports (2024)

Broker Report

First Light | Axis Bank, IndusInd Bank, SBI Card, Aditya Birla Sun Life AMC

BOB Capital Markets Ltd.

AXSB: Moderate business growth; PAT supported by other income. IIB: Stable performance. SBICARD: Trend of lower NIM, higher credit cost persists. ABSLAMC: Better quarter

Broker Report

First Light | Maruti Suzuki, Dr Reddy's Labs, Voltas, Dixon Technologies, Kajaria Ceramics, Blue Star, KEC …

BOB Capital Markets Ltd.

MSIL: Healthy all-round performance raise to BUY. DRRD: Buoyant US sales drive performance. VOLT: UCP improving, Qatar business a dampener. DIXON: Mobile business dials up growth; maintain BUY. KJC: Soft demand, intense competition mar quarter. BLSTR: Purple patch continues; maintain BUY. KECI: Pipeline robust, margin improvement delayed. ABSLAMC: Double-digit growth but market share bleed continues. Metals & Mining: Jindal Stainless: Management meet takeaways

Broker Report

Aditya Birla Sun Life AMC (HOLD): Double-digit growth but market share bleed continues

BOB Capital Markets Ltd.

QAAUM grew 11% YoY to Rs 3.1tn in Q3 with equity assets rising even faster at 13%; however, market share inched down

Broker Report

Aditya Birla Sun Life AMC (HOLD): Mixed set of numbers; maintain HOLD

BOB Capital Markets Ltd.

QAAUM grew 10% YoY to Rs 3.1tn in Q2 with equity assets rising 9%; however, market share inched down

Broker Report

AUM tailwinds lift earnings expectations

ICICI Securities Limited

Aditya Birla Sun Life AMC (ABSL) is likely to benefit from prospects of better fund performance/AUM growth, strong retail franchise and benign revision in TER regulation compared to its earlier announcements. Equity and SIP flow market shares are yet to witness meaningful stabilisation.

Broker Report

Strong retail franchise; to benefit from improved fund performance

ICICI Securities Limited

We upgrade Aditya Birla Sun Life AMC (ABSL) on the back of improved earnings growth prospects driven by better fund performance, strong retail franchise and revision in TER regulation, which is now expected to be favourable (Link) vs earlier announcements.

Broker Report

Aditya Birla Sun Life AMC (HOLD): Healthy quarter

BOB Capital Markets Ltd.

QAAUM grew 5% YoY to Rs 2.9tn in Q1; market share inched up to 6.9% after a prolonged decline

Broker Report

Growing market share remains key for rerating

ICICI Securities Limited

Aditya Birla Sun Life AMC (ABSL AMC) has reported Rs1.1bn of core PAT in Q4FY23, down 14% QoQ. While yield performance had been stable for the last seven quarters ending Q3FY23 (~44bps at an aggregate level), Q4FY23 witnessed a marginal decline to 43.2bps.

Broker Report

Growing market share remains key for rerating

ICICI Securities Limited

Aditya Birla Sun Life AMC (ABSL AMC) reported Rs1.3bn of core PAT in Q3FY23, down 2.4% QoQ. While yield performance has been stable for the last seven quarters (~44bps at an aggregate level), declining equity/SIP market share (Q1/Q2/Q3FY23 equity market share was 8.4%/8,2%/7.9%, while SIP market share was 8.3%/8%/7.9%) and flattish quarterly operating EBITDA of Rs1.8bn have led to muted earnings growth expectations.

Broker Report

Aditya Birla Sun Life AMC (HOLD): Challenges persist, maintain HOLD

BOB Capital Markets Ltd.

Market share declines to 7% as Q3 QAAUM falls 6% YoY to Rs 2.8tn vs. 5% growth for the industry

Broker Report

ABSL AMC

Yes Securities

Broker Report

ABSL AMC

Yes Securities

Broker Report

ABSL AMC

Yes Securities

Broker Report

Aditya Birla Sun Life AMC Ltd. IPO Note

Ashika Research

Kotak Mahindra Capital Co Ltd., Bofa Securities (I) Ltd., Citigroup Global Markets India Pvt Ltd., Axis Capital Ltd., HDFC Bank Ltd., ICICI Securities Ltd., IIFL Securities Ltd., JM Financial Ltd., Motilal Oswal Investment Advisors...

Broker Report

ABSL AMC: IPO NOTE

IDBI Capital

ABSL AMC is the 4th largest Asset management company in terms of QAAUM and the largest non-bank affiliated AMC as of June 2021 with an AUM of Rs 2.9trn, a market share (based on QAAUM) of 8.5% in the industry and a client base accounts 7mn folio. ABSL AMC PAT has grown at a CAGR of 15% from FY18 to FY21, and RoE has improved by 700bps during the same period to 33.7%. ABSL AMC has the second highest share from B-30 centers, (FY16: 19.3% Q1FY22: 27.4%) At upper price band, IPO is priced at a P/E of 33x discount to peers (Nippon India P/E of 39x and HDFC AMC with P/E of 50x). With focus on growing market share through higher distribution tie-ups, increasing margin...

Broker Report

Aditya Birla Sun Life AMC Limited - IPO Note 28092021

HDFC Securities

Aditya Birla Sun Life AMC Limited Issue Open: Sep 29 Oct 01 2021 Price Band: Rs. 695 712 Issue Size: 38,880,000 eq sh (Entirely Offer for Sale) Rs.2702.1 -2768.2 cr Reservation for: QIB Upto 18,468,000 eq sh Non Institutional atleast 5,540,400 eq sh Retail atleast 12,927,600 eq sh ABCL Shareholders Upto 1,944,000 eq sh

Broker Report

Aditya Birla Sun Life AMC Ltd

Angel Broking

Aditya Birla Sun Life AMC Limited (ABSLAMC) is ranked as the largest non-bank affiliated AMC in India by Quarterly Average Assets Under Management (QAAUM) since March 31, 2018, and among the four largest AMCs in India. Company managed total AUM of ?2,93,642 crores under the suite of mutual fund (excluding our domestic FoFs), portfolio management

Broker Report

ADITYA BIRLA SUN LIFE AMC LTD.

Ventura

IPO Note

Broker Report

Aditya Birla Sun Life AMC : IPO

ICICI Securities Limited

Aditya Birla Sun Life (ABSL) AMC, a JV between Aditya Birla Capital Ltd and Sun Life AMC, is one of the leading asset management services in India. ABSL AMC is ranked as the largest non-bank affiliated AMC in India in terms of Quarterly Average AUM (QAAUM) since 31st March 2018, and ranks among four largest AMCs in India by QAAUM since September 2011. As on...