NSE · India · Capital Markets

Aditya Birla Money Limited BIRLAMONEY.NS

Price ₹105.45Mkt cap 596 croreReports in INRData 2 Nov 2026

Value estimate · 0% DCF, 100% peers₹125.00+18.5%+18.5% vs ₹105.45

DCFNot useda free-cash-flow DCF doesn't suit a lender, insurer or holding company

Peers₹125.394 peers · median P/E 17.5x

P/E vs peers-38.1%10.8x against a peer median of 17.5x

Price to book2.0xpeer median 1.5x

Scenario

drives the result

Scenario probabilities (%)

BearBaseBull

Use the probability-weighted DCF instead of the live scenario

Forecast drivers

Base case, %

Driver	FY27E	FY28E	FY29E	FY30E	FY31E
Revenue growthFY23–FY26 avg 20.5%
EBIT marginFY23–FY26 avg 36.1%
Tax rateFY23–FY26 avg 25.8%
D&A % of revenueFY23–FY26 avg 2.5%
Capex % of revenueFY23–FY26 avg 2.3%
Working capital % of revenue changeFY23–FY26 avg 814.9%

No usable consensus estimate: the first years start from history. The base case fades to 7.0% by year five; bear and bull sit 3 points of growth and 1.5 points of margin either side.

Discount rate

WACC build

INR 10-year government bond yield (%)India 10-year government bond, 21 Oct 2026 (World Government Bonds; Trading Economics 7.44%)

Less: country default spread (%)Damodaran; the Indian bond yield carries some default risk

Beta2 years, weekly vs Nifty 50: 1.55 (R² 0.16)

Equity risk premium (%)Damodaran, July 2026 update

Pre-tax cost of debt (%)starter: bond yield + 1.5 points

Terminal growth g (%)must stay below WACC

Risk-free rate: 5.69%
Cost of equity: 16.41%
Weight of equity: 22.1%
After-tax cost of debt: 6.60%
WACC: 8.77%

Result rules

set before you look

DCF weight (%)peers get 100%

Share price (INR)Yahoo, 30 Oct 2026 (delayed)

Check before you rely on thisLenders, insurers and investment holding companies are not suited to a free-cash-flow DCF: the value starts on peer multiples only (P/E and P/B).No consensus revenue estimate: the first forecast years start from history.

In plain English

The model's numbers as sentences. Every figure comes from the live data and your inputs, so the story changes when you change an input.

Valued below its peers on earnings

Favourable
At 10.8x trailing earnings, Aditya Birla Money Limited trades 38% below the median of 4 peers (17.5x).
Caution
At 2.0x book value, Aditya Birla Money Limited trades 31% above the median of 4 peers (1.5x).
Favourable
Return on equity was 21.8% in FY26, above the 16.4% a year shareholders require (the cost of equity). A simple rule, fair P/B = (ROE − g) ÷ (cost of equity − g), gives about 1.5x against 2.0x today, if that return lasts.
Favourable
Earnings yield is 9.2% (trailing earnings ÷ price) against 7.4% on a 10-year government bond: more profit per rupee of price than the bond pays, though profits are less certain than interest.
Favourable
Business health grade A (100 out of 100): passes most of the checks for a financial firm, with 5 strengths and no red flags.

Educational, not investment advice. “Favourable” means the numbers lean in today's price's favour; “Caution” means the price asks a lot of the future.

Football field

Every valuation range side by side, against today's price and the value estimate. Per share, in INR.

Show as table

Range	Low	Mid	High
P/B comps (25th to 75th percentile)	₹72.91	₹80.56	₹109
P/E comps (25th to 75th percentile)	₹126	₹170	₹219
52-week share price (trading range)	₹95.00	–	₹166

Business health

Is this a good, honest business, not just a cheap one? Published screens on the reported annual accounts (FY23–FY26), plus plain ratios. Screens, not verdicts: read the accounts before relying on any of them.

GradeA100 / 100

Grade A (100/100): passes most of the checks for a financial firm, with 5 strengths and no red flags.

Piotroski F-score–not used for financial firms

Altman Z''–not used for financial firms

Beneish M-score–not used for financial firms

Red flags none

None of the checks raised a red flag.

Strengths 5

Solid profitability for a lender: return on assets was 1.69% in FY26.
High return for shareholders: ROE was 21.8% in FY26.
Thick capital cushion: equity is 8.7% of assets in FY26.
Steady growth: revenue rose in each of the last 3 years.
Book value per share grew 40.0% a year over FY23–FY26.

Return on equity Good21.8%Net profit ÷ average shareholders' equity, FY26. 15% or more is strong.

Return on assets Good1.69%Net profit ÷ total assets, FY26. For a lender, 1% or more is good.

Equity ÷ assets Good8.7%How much of the balance sheet owners fund, FY26. 8% or more is a solid cushion for a lender.

Book value per share growth Good+40.0% a yearBook value per share, a year, FY23–FY26, adjusted for bonus issues and splits. Mergers and share issues lift it too.

Share count change Good+0.1% a yearWeighted diluted shares, a year, FY23–FY26. Above 2% a year is heavy dilution; shares issued for mergers count too.

Paid out to shareholders n/a–Dividends and buybacks not reported.

Stock-based pay n/a–Stock-based compensation not reported.

Years of revenue growth Good3 of 3Years in which revenue beat the year before, FY23–FY26.

How to read this

Piotroski F-score (Joseph Piotroski, 2000): nine pass-or-fail tests of profitability, debt, liquidity and efficiency, each comparing the latest year with the one before. 7 or more is strong; 3 or fewer is weak.

Altman Z'' (Edward Altman, 1995, the version for non-manufacturers and emerging markets): combines working capital, retained earnings, operating profit and book equity relative to the balance sheet. Above 2.60 is the safe zone, below 1.10 the distress zone.

Beneish M-score (Messod Beneish, 1999): eight ratios that, in his study, separated companies later found to have manipulated earnings. Above −1.78 resembles that pattern. It is a prompt to read the notes to the accounts, not an accusation.

Grade: a 0 to 100 blend (Piotroski 40%, Altman 20%, Beneish 15%, the ratios 25%, re-weighted when a part is missing): A from 80, B from 65, C from 50, D from 35, E below.

All three screens were built on US companies and annual accounts from Yahoo Finance, which can be incomplete. Lenders, insurers and holding companies get financial-firm ratios instead of the Altman and Beneish screens.

Lenders and investment holding companies are graded on return on equity and assets, the capital cushion, book value growth, dilution and growth. The Piotroski, Altman and Beneish screens and the debt and cash-conversion ratios are left out: loan growth is an operating cash outflow and borrowing is raw material, so they would mislead.
Piotroski F-score is not used for financial firms: its cash-flow, leverage, liquidity and margin tests describe industrial companies.
Altman Z'' is not used for financial firms: it was built for companies whose balance sheets are not mostly loans, deposits or policyholder funds.
Beneish M-score is not used for financial firms: receivables, gross margin and asset quality mean something different for a lender or an insurer.
Not available from the data: paid out to shareholders, stock-based pay.

What analysts expect

Price targets and ratings from the brokers' analysts who cover the stock, as Yahoo collects them. Their opinion, not this app's; set against the model so you can see where you differ.

No analyst coverage on Yahoo for this company. Smaller companies are often not covered at all, which makes your own analysis matter more.

Risk and likely range

How much the shares have swung and how far they have fallen over five years. Risk repeats far more reliably than direction, so this is the honest kind of forecast: how far the price may move, not which way.

Loading five years of prices…

DCF sections are hidden for financial firms

For a lender, an insurer or an investment holding company, debt is raw material rather than financing, so free cash flow to the firm and the WACC bridge don't describe the business. The value above uses peer P/E and P/B only.

Peers

Found from Yahoo's related stocks in the same industry; multiples rebuilt here so currencies match. Untick a peer to drop it, or add your own.

Company	In median	EV/EBITDA	P/E	EV/Sales	P/B	Op. margin	Rev. growth
Geojit Financial Services Limited GEOJITFSL.NS Capital Markets		–	26.9x	1.8x	1.5x	9.3%	-2.1%
Emkay Global Financial Services Limited EMKAY.NS Capital Markets		–	13.9x	-1.2x	1.5x	27.2%	105.4%
JM Financial Limited JMFINANCIL.NS Capital Markets		–	10.0x	4.0x	1.0x	47.2%	-10.3%
Motilal Oswal Financial Services Limited MOTILALOFS.NS Capital Markets		–	21.0x	7.4x	3.7x	51.9%	67.5%
Median of included	4	–	17.5x	4.0x	1.5x
Aditya Birla Money Limited	–	2.4x	10.8x	1.6x	2.0x	41.1%	5.0%

Add a peer

Implied value per share	25th pct	Median	75th pct
EV/EBITDA × EBITDA + net cash	– (–)	– (–)	– (–)
P/E × earnings per share	₹126 (13.0x)	₹170 (17.5x)	₹219 (22.5x)
P/B × book value per share	₹72.91 (1.4x)	₹80.56 (1.5x)	₹109 (2.1x)
EV/Sales × revenue + net cash (check only)	₹190 (2.9x)	₹260 (4.0x)	₹368 (5.7x)
Peer value (average of median P/E and median P/B prices)		₹125.39

Against its own past

Is today's multiple high or low for this stock? Its P/E (price ÷ earnings per share) or P/B (price ÷ book value per share) month by month, against the range it has traded in.

Loading ten years of monthly prices…

Pitch summary

Three pieces of evidence that lead to a view. The client summary button copies all of this as text.

1 · Margins-2 bpsEBIT margin change from the last reported year (41.1%) to FY31E (41.1%)

2 · Valuation vs peers-38.1%Aditya Birla Money Limited P/E against the peer median; negative means cheaper

3 · Cash20.6%FCF yield: FY27E free cash flow ÷ market value at today's price

Aditya Birla Money Limited (BIRLAMONEY.NS), valuation summary, 2 Nov 2026
Value estimate ₹125.00 (+18.5% vs today's price of ₹105.45).

• DCF (base case): ₹857.43 per share. WACC 8.77%, terminal growth 5.0%; terminal value is 86% of enterprise value.
• Peers: ₹125.39 per share (average of median P/E and median P/B prices; 4 peers).
• Scenarios: bear ₹748.03, base ₹857.43, bull ₹990.81; probability-weighted ₹863.42.
• What the price implies: -44.5% revenue growth a year for FY27E–FY31E, against 12.4% in this forecast.
• Monte Carlo: 100% of 2,000 simulated outcomes are above today's price; middle 80% ₹622.79 to ₹1,387.
• Key assumptions (base): revenue growth 20.5% → 13.7% → 11.5% → 9.2% → 7.0%; EBIT margin 41.1% to 41.1%; tax 25.8%.
• Checks: to review: Terminal value is less than 85% of enterprise value.

Data: Yahoo Finance via yahoo-finance2 (unofficial; delayed prices), as of 2 Nov 2026. Educational model, not investment advice.

Model checks

6 pass, 1 to review.

PASSWACC is above terminal growth g
PASSThe DCF gives a positive value per share
PASSShares × price is within 2% of the reported market cap
PASSScenario values are in order: bear ≤ base ≤ bull
PASSAt least three peers are in the medians
CHECKTerminal value is less than 85% of enterprise valueMost of the value sits after year 5: check terminal growth and the year-5 margin.
PASSThe forecast starts after the last reported year

Company data

What the model uses, from Yahoo Finance via yahoo-finance2 (unofficial; delayed prices). Edit any number that looks wrong; your edits stay in this browser and are marked.

₹ crore	FY23	FY24	FY25	FY26	Avg ratio
Revenue					growth 20.5%
EBIT (operating profit)					margin 36.1%
D&A					2.5%
Profit before tax
Tax					rate 25.8%
Capex					2.3%
Increase in working capital					814.9% of Δrev

Cash and short-term investments (₹ crore)
Borrowings (₹ crore)
Lease liabilities (₹ crore)
Minority interests (₹ crore)
Dividends since the balance sheet (₹ crore)

Revenue, trailing 12 months (₹ crore)
EBITDA, trailing 12 months (₹ crore)
Net income, trailing 12 months (₹ crore)
Shares outstanding (crore)

FY labels follow Indian fiscal years ending in March. Shares: 56,509,201. Price ₹105.45 at Fri, 30 Oct 2026 09:59:33 GMT.

Loading prices, five years of statements and peers…

The first visit to a stock takes a few seconds; repeat visits are cached.

Driver

FY27E

FY28E

FY29E

FY30E

FY31E

Revenue growthFY23–FY26 avg 20.5%

EBIT marginFY23–FY26 avg 36.1%

Tax rateFY23–FY26 avg 25.8%

D&A % of revenueFY23–FY26 avg 2.5%

Capex % of revenueFY23–FY26 avg 2.3%

Working capital % of revenue changeFY23–FY26 avg 814.9%

Range

Low

Mid

High

P/B comps (25th to 75th percentile)

₹72.91

₹80.56

₹109

P/E comps (25th to 75th percentile)

₹126

₹170

₹219

52-week share price (trading range)

₹95.00

–

₹166

Company

In median

EV/EBITDA

P/E

EV/Sales

P/B

Op. margin

Rev. growth

Geojit Financial Services Limited GEOJITFSL.NS

Capital Markets

–

26.9x

1.8x

1.5x

9.3%

-2.1%

Emkay Global Financial Services Limited EMKAY.NS

Capital Markets

–

13.9x

-1.2x

1.5x

27.2%

105.4%

JM Financial Limited JMFINANCIL.NS

Capital Markets

–

10.0x

4.0x

1.0x

47.2%

-10.3%

Motilal Oswal Financial Services Limited MOTILALOFS.NS

Capital Markets

–

21.0x

7.4x

3.7x

51.9%

67.5%

Median of included

–

17.5x

4.0x

1.5x

Aditya Birla Money Limited

–

2.4x

10.8x

1.6x

2.0x

41.1%

5.0%

Implied value per share

25th pct

Median

75th pct

EV/EBITDA × EBITDA + net cash

– (–)

P/E × earnings per share

₹126 (13.0x)

₹170 (17.5x)

₹219 (22.5x)

P/B × book value per share

₹72.91 (1.4x)

₹80.56 (1.5x)

₹109 (2.1x)

EV/Sales × revenue + net cash (check only)

₹190 (2.9x)

₹260 (4.0x)

₹368 (5.7x)

Peer value (average of median P/E and median P/B prices)

₹125.39

Aditya Birla Money Limited (BIRLAMONEY.NS), valuation summary, 2 Nov 2026 Value estimate ₹125.00 (+18.5% vs today's price of ₹105.45). • DCF (base case): ₹857.43 per share. WACC 8.77%, terminal growth 5.0%; terminal value is 86% of enterprise value. • Peers: ₹125.39 per share (average of median P/E and median P/B prices; 4 peers). • Scenarios: bear ₹748.03, base ₹857.43, bull ₹990.81; probability-weighted ₹863.42. • What the price implies: -44.5% revenue growth a year for FY27E–FY31E, against 12.4% in this forecast. • Monte Carlo: 100% of 2,000 simulated outcomes are above today's price; middle 80% ₹622.79 to ₹1,387. • Key assumptions (base): revenue growth 20.5% → 13.7% → 11.5% → 9.2% → 7.0%; EBIT margin 41.1% to 41.1%; tax 25.8%. • Checks: to review: Terminal value is less than 85% of enterprise value. Data: Yahoo Finance via yahoo-finance2 (unofficial; delayed prices), as of 2 Nov 2026. Educational model, not investment advice.

₹ crore

FY23

FY24

FY25

FY26

Avg ratio

Revenue

growth 20.5%

EBIT (operating profit)

margin 36.1%

D&A

2.5%

Profit before tax

Tax

rate 25.8%

Capex

2.3%

Increase in working capital

814.9% of Δrev