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2

Aditya Birla Nuvo – A Snapshot 3 – 12

Segment Financials 13 – 16

Our businesses :

Financial Services 18

Fashion & Lifestyle 27

Telecom 37

Divisions 40

Annexure 46 – 54

Contents

3

Strong parentage of the Aditya Birla Group

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

Our Values – Integrity, Commitment, Passion, Seamlessness, Speed

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

4

Aditya Birla Nuvo : Vision & Mission

Kumar Mangalam Birla

Chairman

Vision

“To be a premium conglomerate building leadership in businesses

and creating value for all the stakeholders”

Mission

• Investing in the promising sectors

• Building leadership in businesses

• A platform to drive synergy of resources

• Delivering best value to all the stakeholders

• To be a responsible corporate citizen

5

Aditya Birla Nuvo : Progressing in line with its vision

Investing in the Promising Sectors

Invested USD 2 billion over past 15 years to fund the growth of its businesses leading to

transformation from a manufacturing company to a premium conglomerate

2000 2001 2003

2005/06 2005-2011

2012

2013

2014

2015

Created India’s largest online money management platform MyUniverse

Added New Superfine Yarn capacity in Rayon

Expanded Linen Yarn and Fabric Capacities

Commenced Housing Finance operations

Applied for Payments bank license in a 51:49 stake with Idea

Signed MoU with MMI Holdings to enter health insurance sector in India

Enhanced strategic stake in Telecom through Idea

Expanded Financial Services portfolio by merger of

AMC & NBFC and entry in broking, private equity etc.

Augmented Fashion offerings through acquisition of

Pantaloons, a top 3 big box apparel retailer

Entered Fashion business through

acquisition of Madura

Forayed in Life Insurance business

through JV with Sun Life, Canada

Entry into IT-ITeS Business

6

Earnings before Tax

USD 141 million

(` 849 Crore : 17%↑ y-o-y)

Diversified Portfolio

Having 10 lines

of businesses

Retail Network

1869 Stores (4.8 mn sq. ft.)

Largest in fashion space

Customers Base

A large 10.8 million

loyalty customers base

EBITDA

USD 89 million

(` 532 Crore : 32%↑ y-o-y)

Building Leadership Position across its businesses

Note 1 : Includes AUM of Life Insurance, Private Equity and quarterly AAUM of Asset Management business

Market Positioning

Among the top 5 fund

managers in India

Market Positioning

#1 branded menswear &

womenswear player in India

Aditya Birla Financial Services

Fashion & Lifestyle (Madura & Pantaloons)

Scale

Selling two branded

apparels every second

Revenue

USD 1.3 billion

(` 7,926 Crore : 19%↑ y-o-y)

Revenue

USD 910 million

(` 5,450 Crore : 15%↑ y-o-y)

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)

7

Revenue

USD 901 million

(` 5,405 Crore : 9%↑ y-o-y)

EBITDA

USD 102 million

(` 615 Crore : 11%↑ y-o-y)

Cash profit (post tax)

USD 1.4 billion

(` 8,482 Crore : 32%↑ y-o-y )

Divisions (Jaya Shree, Indo-Gulf fertilisers, Indian Rayon, Aditya Birla Insulators)

Market Positioning

6th largest1 in the world

3rd largest2 in India

Outperforming Industry

Revenue share grew y-o-y

from 16.1% to 17.5%2

Note 1 : In terms of subscribers and based on operations in a single country (Source : GSMA, Dec’14) Note 2 : Based on gross revenue for UAS & Mobile licenses only for Oct-Dec14, as released by TRAI

Building Leadership Position across its businesses

Market Positioning

Leading manufacturer of

Linen, Urea, VFY & Insulators in India

Strong Balance sheet

Net Debt to EBITDA : 1.31x

(Standalone)

Free Cash Flow (pre-tax)

USD 52 million

(` 314 Crore : 36%↑ y-o-y)

Telecom (Idea Cellular)

Outlook

Expanding linen yarn capacity to tap sector growth

Long term anti-dumping duty to benefit Insulators sector

Gas pooling policy to benefit urea sector

EBITDA

USD 1.9 billion

(` 11,281 Crore : 32%↑ y-o-y )

Revenue

USD 5.3 billion

(` 31,527 Crore : 19%↑ y-o-y)

8

Standalone Ratios

Standalone balance sheet has been the growth engine for ABNL & a platform to drive synergy of capital resource

Invested ~USD 1 billion to fund the growth capital requirements of its businesses over past six years

Healthy financial position : Net Debt to EBITDA at 3x & Net Debt to Equity at 0.42x as on 31st Mar’15

Contributed by strong cash flow from operations, dividend income, proceeds from divestment of sub-scale

businesses and capital support from the promoters

Received dividend of ` 89 Cr. in FY15 (~` 600 Cr. over past 6 years)

306 676 1193

3591 3854

3584

Mar'09 Mar'12 Mar'15

Standalone Net Debt

( ` Crore)

5.8

3.7

3.0 0.87

0.68

0.42


Net Debt/annualised EBITDA Net Debt/Equity

O/s

Fertilisers

Subsidy

A platform to drive synergy of resources

9

Exit from sub scale businesses to achieve greater focus on other businesses

Supported ABNL’s growth plans &

strengthened balance sheet

Greater focus on core businesses

Note : Refer slide 52 for transaction details

Delivering best value to all the stakeholders …

Consolidation of Branded Apparels Businesses to unlock value for the shareholders

Creating India’s largest pure-play fashion & lifestyle company

Presence across entire spectrum of fashion through India’s leading fashion brands

Unlocking value for shareholders by giving them direct holding in a best-in-class fashion powerhouse

Largest retail network in fashion space in India

Sound Balance sheet to act as a strong enabler for growth

Aditya Birla Fashion & Retail Ltd.

# 1 Menswear player # 1 Womenswear player

Enterprise Value

USD 260 million

Effective Date

9th May 2014

Effective Date

1st April 2013

Enterprise Value

USD 240 million

Divestment of

IT-ITeS business

Divestment of

Carbon Black business

http://www.google.co.in/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.glassdoor.com/Reviews/Madura-Fashion-Reviews-E526235.htm&ei=9r9DVf-vAsmxuAT8tIHwCg&bvm=bv.92189499,d.c2E&psig=AFQjCNEnawGcUgur11lqWLpu_JqfbuHPgg&ust=1430589778482196

10

… and driving strong earnings growth

4,227

10,723

21,654


Market Capitalisation (Rs. Crore)

-436

890

1,416

FY09 FY12 FY15

Consolidated Net Profit (Rs. Crore)

867

3,247

5,798

FY09 FY12 FY15

14,331

21,840

26,516

FY09 FY12 FY15

Branded Apparels Financials Services, Telecom & Divisions

Consolidated Revenue (Rs. Crore)

Consolidated EBITDA (Rs. Crore)

11

ABNL - A USD 4.4 billion Conglomerate

Divisions

Rayon*

Agri*

Fashion &

Lifestyle

Financial

Services Telecom $ #

(23.28%)

Asset Management^

(51%) @

Life Insurance^

(74%) @

Private Equity (100%) ^

Broking (75%)^ #

Wealth management (100%) ^

General Insurance Advisory (50.01%) ̂ Online Money Management (100%)^

Insulators*

Represent Joint Ventures Represent Subsidiaries @ JV with Sun Life Financial, Canada Represent Divisions # Listed * ^ $

Leadership position in India Leader Top 3 Top 5

Pantaloons^ #

(72.62%)

Madura* Jaya Shree*

Note : Percentage figures indicated above represent ABNL’s shareholding in its subsidiaries /JV’s

NBFC (100%) ^

Housing Finance (100%) ^

12

Anchored by a strong Management Team

Business Head Business

Mr. Lalit Naik, Managing

Director

VFY , Chemicals, Agri,

Insulators

Mr. Ajay Srinivasan Financial Services

Mr. Pranab Barua Fashion & Lifestyle

(Madura & Pantaloons)

Mr. Thomas Varghese Textiles

Mr. Himanshu Kapania Telecom

Whole Time Director & Chief Financial Officer

Mr. Sushil Agarwal

Board of Directors

The Company has a balanced Board, comprising of 2

Executive, 2 Non-Executive, 1 nominee & 5 Independent

Directors, including 2 women directors.

• Each business is run as an independent SBU under

the leadership of a business head

• Chief Financial Officer heads the finance function

which is the life blood for a business

• Business heads & the Chief Financial Officer have

wide-ranging experience in the areas of business

development, strategy formulation, restructuring,

acquisitions, technology management etc.

• Some of the senior management team members,

prior to joining Aditya Birla Group, have also played

key roles in the globally renowned organisations

viz., Saint Gobain, Dow Chemicals, Prudential

Corporation Asia, Hindustan Unilever, Reckitt

Benckiser etc.

• Independent directors have rich experience in their

respective fields and incl. ex-secretary to the

President of India and former top executives from

the esteemed organisations viz., Exim Bank, LIC,

IDBI, UTI etc.

14

Achieved revenue growth across the businesses

Note 1 : Including full figures of Asset Management business. As per AS27, Asset Management business has been proportionately consolidated @ 50% in ABNL’s financials, being a 50:50 Joint Venture till 9th Oct’12.

Thereafter it is consolidated as subsidiary since ABFS holds 51% w.e.f. 10th Oct’12..

Note 2 : Full financial numbers of Idea Cellular. Being a JV, Idea Cellular has been consolidated at 27.02% from 12th August 2008 upto 1st March 2010, at ~ 25.3% till 10th June 2014, at 23.63% till 23rd July 2014

and at 23.29% thereafter as per AS 27.

Note 3 : Represents Branded apparels & Accessories (Madura & Pantaloons). In FY13, nine months financials for Pantaloons are included pursuant to its acquisition w.e.f. appointed date 1st July 2012

Note 4 : Represents Textiles, Agri, Rayon and Insulators.

Revenue

6304 6542 6378

6637

7926

FY11 FY12 FY13 FY14 FY15


1811 2243

3802

4759 5450


Fashion & Lifestyle3

3101

4301

5300 4979 5405


Divisions4

( ` Crore)

15438 19489

22407 26432

31527


Telecom 2

15

Augmented profitability across the businesses

Note 1 : Including full figures of Asset Management business. As per AS27, Asset Management business has been proportionately consolidated @ 50% in ABNL’s financials, being a 50:50 Joint Venture till 9th Oct’12.

Thereafter it is consolidated as subsidiary since ABFS holds 51% w.e.f. 10th Oct’12. Interest cost of NBFC biz., being operating expense as per AS17, is deducted from segmental EBITDA.

Note 2 : Full financial numbers of Idea Cellular. Being a JV, Idea Cellular has been consolidated at 27.02% from 12th August 2008 upto 1st March 2010, at ~ 25.3% till 10th June 2014, at 23.63% till 23rd July 2014

and at 23.29% thereafter as per AS 27.

Note 3 : Represents Branded apparels & Accessories (Madura & Pantaloons). In FY13, nine months financials for Pantaloons are included pursuant to its acquisition w.e.f. appointed date 1st July 2012

Note 4 : Represents Textiles, Agri, Rayon and Insulators.

Note 5 : Excluding one time investment income

EBITDA

544 661

819 799 911



136 196

312

401

532


Fashion & Lifestyle3

519

547

600

554

615


Divisions4

( ` Crore)

3910 5085

6071

8519

11281


Telecom 2

5

16

Consolidated Earnings Mix – FY15

Financial Services

30%

Telecom 28%

Fashion & Lifestyle

21%

Divisions 21%

Financial Services

28%

Telecom 46%

Fashion & Lifestyle

9%

Divisions 17%

Segment Revenue1 Segment EBIT1

Note 1 : Revenue and EBIT Mix are excluding IT-ITeS business which was divested w.e.f. 9th May 2014

18

Aditya Birla Financial Services

A significant non-bank financial services group

19

Aditya Birla Financial Services (ABFS)

Note 1 : Includes AUM of Life Insurance, Private Equity and quarterly AAUM of Asset Management business

Vision : To be a leader & role model in a broad based

& integrated financial services business

Ranks among top 5 fund managers in India (excl. LIC)

Diversified portfolio with 10 lines of businesses

AUM at ` 164,995 Cr. (35%↑ y-o-y)

NBFC Lending book at ` 17,550 Cr. (52%↑ y-o-y)

Anchored by 10,700 employees & trusted by > 6 million customers

Nation wide presence through 1,350 branches / touch points and

127,500 agents / channel partners

Entering strategic partnerships & investing in promising sectors

Acquired mutual fund schemes & portfolio accounts from ING in Sep’14

Forayed into Housing Finance business in Oct’14.

Signed MoU with MMI Holdings in Oct’14 to enter health insurance sector

IFC became strategic financial investor in MyUniverse in Dec’14

BSLI received PFRDA approval for managing pension assets under NPS

1

( ` Crore) Assets under Management

43,104

88,309 88,371 1,07,539 1,22,362

1,21,891

Mar'11 Mar'12 Mar'13 Mar'14 Mar'15

Non

Equity

26%↑ y-o-y

Equity

68%↑ y-o-y

164,995

6304 6542 6378 6637

7926


( ` Crore)

Revenue

368

600 761 727

849


( ` Crore)

Earnings before Tax

20

Aditya Birla Finance (NBFC)

1,850 3,425

8,000 11,550

17,550


Lending book

(` Crore)

10.2% 11.4%

14.3% 13.1%

14.6%


ROE

39%

35% 36%

31% 29%


Opex to NII

37 56 100

166

271


Net Profit

(` Crore)

196 348

715

1,201

1,776


Revenue

(` Crore)

Lending book reached USD 3 billion mark (52%↑ y-o-y)

Well diversified portfolio for sustainable growth

Growth accompanied by robust credit appraisal

and risk management practices

Gross NPA at 0.90% (PY: 1.29%)

Net NPA at 0.32% (PY: 0.58%)

Equity support and internal accruals funding growth

Net worth expanded to ` 2,585 Cr. (46%↑ y-o-y)

Infusion of ` 545 Cr. in FY15 (` 1,720 Cr. in 5 years)

Improved return ratios

ROE enhanced to 14.6% (150 bps↑ y-o-y)

ROA at 2.0% (15 bps↑ y-o-y)

Revenue at ` 1,776 Cr. (48%↑ y-o-y)

EBT at ` 411 Cr. (63%↑ y-o-y)

21

Aditya Birla Finance (NBFC)

Key business metrics

Capital Market

24%

Corporate Finance

23%

Infra Financing

23%

Mortgage* 29%

Others 1%

Lending book as on 31st Mar’15 : Break-up

* LAP / LRD & Construction Finance

(PY:26%)

(PY:22%)

(PY:23%)

(PY:28%)

(PY:1%)

FY13 FY14 FY15

Net Interest Income (incl. fee income) (%) 5.4% 5.1% 5.0%

Return on Avg. Assets (p.a.) (%) 1.92% 1.85% 2.0%

Gross NPA (as % of total loans & advances) 1.23% 1.29% 0.90%

Net NPA (as % of total loans & advances) 0.83% 0.58% 0.32%

Net Worth (` Crore) 1,079 1,769 2,585

Borrowings (` Crore) 6,867 9,647 14,594

Leverage (x) 6.4x 5.5x 5.6x

Established in 1991, one of India’s most reputed NBFC’s

Loan book growth continues to be robust and healthy

More than 80% of lending book is secured

Attained growth across all the segments

Mortgages book crossed ` 5,000 Cr. (71%↑ y-o-y)

Capital Market, Infra Finance & Corporate finance

portfolios crossed ` 4,000 Cr. each

Healthy borrowings Profile

Highest A1+ rating for short term debt and AA+ rating

for long term debt from ICRA, CARE and India Ratings

Out of total borrowings 73% is long term (PY: 61%)

22

Birla Sun Life Insurance (BSLI)

Growth in AUM

Ranks 6th in India with new business market share of 7.6% (in private sector)

#1 in Group new business premium @ ` 1,177 Cr. (44%↑ y-o-y)

Individual life new business premium @ ` 761 Cr. (13%↓ y-o-y)

Conservation ratio (individual life) improved to 82% in FY15 (PY:70%)

Balanced sales mix: In FY15, non ULIP contributed to 62% (PY:60%)

of individual new business.

Embedded Value at ` 3,225 Cr. & VNB margin at 16.2% in FY14

Strong distribution reach : A nation-wide presence with more than 485 branches, 3 key bancassurance

partners, over 85,000 direct selling agents and more than 150 corporate agents & brokers

Total Premium Income

(` Crore)

52%

(` Crore)

3,597 3959 3380 3136 3295

2,080 1926

1837 1697

1938

FY 11 FY12 FY13 FY14 FY15

52%

New Business

Renewal

Premium

5,677 5,885

5,216 4,833

5,233


Non

Equity

Equity

21,110 22,929

24,775

38%

19,760

30,185

62%

2013-14 2014-15

Revenue 4,702 5,267

Earnings before tax 371 285

Net Profit / (Loss) 371 285

` Crore BSLI

42%

58%

41%

59%

45%

55%

47%

53%

23

Birla Sun Life Asset Management (BSAMC)

Growth in AUM (` Crore)

AAUM surged y-o-y by 39% to ` 133,689 Cr. in Mar’15.

Ranks 4th in India with market share of 10.09% in Q4FY15.

Domestic Equity AAUM more than doubled y-o-y to ` 25,904 Cr.

Ranks 5th in terms of equity AAUM with market share at 6.92%

Offshore AAUM reached USD 2 billion (103%↑ y-o-y)

Completed acquisition of all mutual fund schemes & portfolio management accounts from ING mutual fund.

Adjudged ‘Asset Management House of the Year’ by Money Today FPCIL Awards 2015

1,02,923

30,766

Q4FY11 Q4FY12 Q4FY13 Q4FY14 Q4FY15

Equity

Non-Equity

67,668 66,082

83,451

96,429

133,689

9.09% 9.20% 9.45% 9.85% 10.09%

5.45% 5.27% 5.26% 5.78%

6.92%


Domestic Market Share Equity Market Share

Rising Market Share

2013-14 2014-15

Revenue 502 596

Earnings before tax 140 182

Net Profit / (Loss) 95 123

` Crore BSAMC

24

Broking : Industry volumes ↑ y-o-y by 71% in retail cash equity, ↑ 50% in retail F&O & ↓ 36% in commodities

Market share of Aditya Birla Money surged to 2.48% (PY:1.37%) in retail F&O, improved to 0.64% (PY:0.54%)

in commodities, enhanced to 0.50% (PY: 0.29%) in currency segment & while it was lower in retail cash

equity segment at 1.34% (PY:1.43%)

Wealth Management : Assets under Advisory at ~ ` 9,000 Cr. (as on 31st Mar’15)

Online Money Management Portal:

MyUniverse is India’s #1 online personal finance management platform

Enjoying trust of > 1.5 million registered users & helping customers manage

> ` 15,400 Cr. (as on 31st Mar’15)

IFC has become a strategic financial investor in the venture

Broking, Wealth Management & Online Money Management

2013-14 2014-15 2013-14 2014-15

Revenue 75 119 66 86

Earnings before tax (12) 6 (6) 6

Net Profit / (Loss) (12) 6 (6) 5

ABML ABMM

` Crore

Broking

Aditya Birla Money

Wealth Management

Aditya Birla Money Mart

Online Money Management

MyUniverse

25

Other Financial Services

Aditya Birla Housing Finance (ABHFL): Commenced operations in Oct’14, with capital infusion of ` 40 Cr.

Lending book as on 31st Mar’15 is ` 142 Cr. Targeting to expand footprint from currently 15 cities to 30 cities

Health Insurance

Signed MoU with MMI Holdings Ltd. (a leading South African insurance-based financial services group) to enter health

insurance business in India. Final agreement is being negotiated post which application to IRDA will be made.

Aditya Birla Insurance Brokers (General insurance advisory)

In FY15, ABIBL’s premium placement increased y-o-y by 26% to

` 1,132 Cr. while industry premium increased by 9%

Revenue at ` 73 Cr. (11%↓ y-o-y) and EBT at ` 27 Cr. (26%↑ y-o-y)

Aditya Birla Private Equity (ABCAP):

Funds under management (net) at ` 1,121 Cr. Invested more than 90% of net deployable corpus as on 31st Mar’15.

Invested in Wonderla Holidays, City Union Bank, Indian Energy Exchange, Manpasand Beverages, CIBIL & Monte

Carlo Fashions in FY15

0.43% 0.50%

0.93% 1.16%

1.33%


ABIBL Market share

2013-14 2014-15 2013-14 2014-15

Revenue 82 73 23 21

Earnings before tax 21 27 9 6

Net Profit / (Loss) 14 18 6 4

` Crore ABCAP ABIBL

26

ABFS : FY2014-15 Performance

Revenue

FY14 FY15 ∆% (` Crore)

EBT FY14 FY15 ∆%

Remarks on profitability

1,201 1,776 48% ABFL 251 411 63% Expanded lending book (52%↑ y-o-y)

4,702 5,267 12%

BSLI 371 285 23% Lower new business sales and in-force book

502 596 19% BSAMC 140 182 29% Growth in total AUM (39%↑ y-o-y)

82 73 11% ABIBL 21 27 26% Higher premium placement (26%↑ y-o-y)

75 119 58% ABML (12) 6 n.a. Higher average daily brokerage (67%↑ y-o-y)

66 86 30% ABMM (6) 6 n.a. Increase in business volumes

9 8 Others (net of elim.) (39) (67) Scaling up MyUniverse

6,637 7,926 19% Total 727 849 17%


Earnings before Tax at ` 849 Cr. (17%↑ y-o-y)

27

India’s #1 Menswear Player India’s #1 Womenswear Retailer

Fashion & Lifestyle

28

2,523 3,226

3,735

1,285

1,661 1,851

392 473 621 830

1,026 1,116 1,251

1,811

2,239

3,802

4,759 5,450

FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15

Grew 14x in 11 years

Madura

Pantaloons

Journey of Fashion & Lifestyle business

1999 – 2006 2007 – 2013 2014 and Beyond

• Acquisition of

Madura

• Launch of “The Collective”

super-premium retail space

and “People” clothing line in

Value segment

• Transition from wholesale

to retail

• Rapid expansion of retail

networks for LP, VH, AS

and PE1

• Acquisition of Pantaloons

Fashion and Retail

• JV with Hackett

• Consolidation of branded apparels

businesses under one roof

Achieve economies of scale &

unlocking shareholder value

Establish presence in branded apparel and rapid

expansion of retail network

Entry Phase Expansion and Growth Phase Unlocking full potential

2000 2006 2004

2007

2012-13

2015

Note:

(1) LP: Louis Philippe; VH: Van Heusen; AS: Allen Solly; PE: Peter England

Rev

en

ue (I

NR

Crs

)

Filling gaps in branded offerings through organic & inorganic route

29

Largest fashion retail presence serving 10.8 million loyalty customers

Presence across entire spectrum of Fashion with leading brands

Expanding market presence with addition of retail stores as well as

scaling up its own online presence through

Revenue at ` 5,450 Cr. (15%↑ y-o-y) & EBITDA at ` 532 Cr. (32%↑ y-o-y)

Aditya Birla Fashion & Retail

Madura 66%

Pantaloons 34%

Revenue mix FY15

1,811 2,239

3,802

4,759

5,450


Revenue (` Crore)

136 196

312 401

532


EBITDA (` Crore) Retail Network

895 1,129

1,367

1,648 1,869


1.3 1.6

3.6 4.2

4.8

Carpet Area

(Million Sq. Ft.) EBOs / Stores

Note 1 : Excluding one-time investment income

1

30

Winning Combination of Brands & Retail

India’s #1 Menswear Player India’s #1 Womenswear Retailer

Powerhouse of India’s leading fashion

brands: Louis Philippe, Van Heusen, Allen

Solly, Peter England

Extensive reach through multi-channel

distribution network: 1735 Retail stores &

6000+ additional points of sale

State of Art global supply chain

Strong in-house design & product

development capabilities

Track record of robust financial performance

A large 6.3 Million loyalty members base

One of India’s largest big-box affordable

fashion retailer

Unique business model: Design to Retail

Strong portfolio of exclusive private brands:

Contributing to 52% of Revenue

Widest reach: 49 cities & 104 stores

Rich portfolio spanning all genders &

consumer segments

One of the largest loyalty programs: ~4.5

Million members contributing to 60% of sales


31

Bouquet of Market Leading Brands across Segments


http://www.google.co.in/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://pantaloons.com/&ei=P9tEVb3HO5eHuASNmoHwAQ&bvm=bv.92291466,d.c2E&psig=AFQjCNFZIuP0w379G1RmBKrZGudhuxmQ_g&ust=1430662332455302

32

Largest retail network in the fashion space

1.0

4.8

FY10 FY15

Combined Retail Footprint

(million sq. ft.)

As at Mar 31, 2015

Madura: 1735 EBOs

Pantaloons: 104 stores +

30 Factory Outlets

33

Madura Fashion & Lifestyle1

Powerhouse of India’s leading fashion brands

Louis Philippe, Van Heusen, Allen Solly, Peter England

Extensive reach through multi-channel distribution network

1735 retail EBOs & 6000+ additional points of sale

Posted strong earnings growth in FY15 despite weak customer

footfalls & higher promotions / discounting across the industry


Retail channel sales (EBOs): 14%↑ y-o-y led by stores expansion

L2L sales growth was flat. Added (net) 194 EBOs in FY15

Wholesale channel sales (Department Stores & MBOs) : 20%↑ y-o-y

EBITDA at ` 463 Cr. (19%↑ y-o-y)

Margins and ROACE expanded y-o-y to 12.4% & 72%

Capex guidance for FY16 stands at ` 160 Cr. for new stores

launches and renovation of existing stores

1,811 2,239

2,523

3,226

3,735


Revenue (` Crore)

136 196

245

388 463


EBITDA (` Crore)

Note 1 : Includes Madura Fashion, a division of ABNL and Madura Lifestyle, a subsidiary of ABNL. Madura Fashion owns & retails India’s leading apparel brands such as Louis Philippe, Van Heusen, Allen

Solly, Peter England & People. Madura Lifestyle retails international luxury brands under the retail format ‘The Collective’ & also retails Madura Fashion brands under the retail format ‘Planet Fashion’

FY 11 FY 12 FY 13 FY 14 FY 15

EBITDA % 7.5% 8.8% 9.7% 12.0% 12.4%

ROACE % 11% 20% 29% 64% 72%

CE (` Cr.) 598 615 479 457 591

34

Core Brand and Product Extensions Brand

Successfully broadened product offerings of each brand yet reinforcing core positioning

Madura has rapidly grown its ‘Power Brands’ by successfully

extending them into fast growing segments

35

Pantaloons Fashion & Retail Ltd.

Strategic initiatives taken since acquisition …

Launched 39 new stores in past 2 years on a base of 69 stores

43 stores renovated and 100% store re-layouts accomplished

Created 7 new private brands, added 15 external brands

Created a stronger vendor network with pan India capability

… are yielding results

Customer reach scaled to 104 Stores & 30 factory outlets across 2.3 million sq. ft.

Share of Private brands & Madura brands enhanced from 46% to 62%

Voted amongst India’s top most trusted retailer brands in “Brand Equity Survey 2014”

In FY15, posted revenue at ` 1,851 Cr. (11%↑ y-o-y)

Driven by L2L growth of 5.5% and stores expansion

Added 25 pantaloons stores & 6 factory outlets in FY15

Driven by portfolio enrichment, gross margin increased to 45% (340 bps↑ y-o-y)

EBITDA almost doubled from ` 39 Cr. to ` 75 Cr.

EBITDA margin expanded to 4.1% (180 bps↑ y-o-y)

Higher accelerated depreciation on account of stores renovation & planned stores

closures impacted bottom-line

Men 35%

Women 42%

Kids 9%

Non-Apps 14%

Revenue Mix (FY15)

2.3%

4.1%

39

75

FY14 FY15

EBITDA (` Crore)

EBITDA %

1,661

1,851

FY14 FY15

Revenue (` Crore)

36

Pantaloons Fashion & Retail Ltd.

Capex of ` 115 Cr. was spent during FY15

FY16 Capex guidance stands at about ` 125 Cr.

mainly towards launch of 30-35 new stores

Customer Reach

90 95 107

134

Jun'12 Mar'13 Mar'14 Mar'15

1.6 1.7

2.0

2.3

Carpet Area (Million Sq Ft)

No. of Stores incl. Factory

Outlet

` Crore

2013-14

(PY)

2014-15

(CY)

Revenue 1,661 1,851

EBITDA 39 75

Segment EBIT (75) (110)

Full Year

` Crore

As on

31st

Mar'14

As on

31st

Mar'15

Net Fixed Assets (Incl. Capital Advances) 496 422

Goodwill 1,168 1,168

Cash & Current Investments 17 7

Net Working Capital (50) 60

Net Worth 579 346

Debt 1,050 1,311

37

Telecom

3rd largest Cellular Operator in India

38

Idea Cellular (Telecom)

Having a market cap of ~USD 11 billion, Idea' is the biggest revenue market

share gainer in India since past five years

Ranks 3rd in terms of pan India revenue market share1 at 17.5%.

Ranks among top 6 players globally with 2.06 billion minutes of usage daily

Base of 161 million subscribers provides a platform for upgrading pure

voice customers to wireless data services in future

Idea holds 16% stake in the world’s leading tower company Indus Towers

Solid foundation for business growth laid for the next 20 years

Won 79.4 MHz spectrum in Mar’15 auctions for ~USD 5 billion

Strong cash flows & funds raised supporting balance sheet2 & growth plans

Net debt to EBITDA2

at 1.31x (PY: 2.61x)

Generated post tax cash profit2 of ` 8,482 Cr. in FY15 (32% y-o-y growth)

Raised equity capital of ` 3,750 Cr. (through QIP & Preferential allotment) in FY15

Dividend @ 6% of share capital for FY15: Overall payout of ` 260 Cr. (incl. DDT)

ROACE improved y-o-y from 12% to 14% in FY15

1Based on gross revenue for UAS & Mobile licenses only, as released by TRAI 2Standalone = Idea and its 100% subsidiaries

13.3% 14.4% 14.8%

16.1% 17.5%

Q3FY11 Q3FY12 Q3FY13 Q3FY14 Q3FY15

Revenue Market Share 1

15,438 19,489

22,407 26,432

31,527


Consolidated Revenue (` Crore)

3,910 5,085 6,071 8,519

11,281


Consolidated EBITDA (` Crore)

39

Idea Cellular (Telecom)

As of Mar’15, Idea has around 102.3% of reported subscribers as active subscribers, highest in the industry

Capex guidance for FY16 (excl. any spectrum payout) stands at ` 50-55 billion. Incurred ` 40.5 billion in FY15

Net Worth

Total Debt

Mar'08 Mar'09 Mar'10 Mar'11 Mar '12 Mar '13 Mar '14 Mar'15

35

133 114

123 131 143

165

230

65

89

79 121

133 140

206

269

Strong Balance Sheet (Figures in ` billion)

4,763 10,114 24,793

49,860 66,187 73,668

96,015 1,07,234

1,26,159 1,42,658

Mar'06 Mar'07 Mar'08 Mar'09 Mar'10 Mar'11 Mar '12 Mar '13 Mar'14 Mar'15

Cell Sites: Capacity grew multifold

Robust growth in MOUs (billion minutes)

21 46 86 165

243 363

453 532

588 683

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15

Subscribers (In Million)

7 14 24 43 64

90 113 122 136

158

Mar'06 Mar'07 Mar'08 Mar'09 Mar'10 Mar'11 Mar '12 Mar '13 Mar'14 Mar'15

10.4 8.8 9.5 9.0 7.2 10.1

19.7

31.9

FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15

Net Profit (` billion)

40

Divisions

Leading manufacturer of Linen, Urea, VFY and Insulators in India

41


EBITDA at ` 615 Cr. (11%↑ y-o-y)

ROACE improved y-o-y from 14% p.a. to 16% p.a.

Divisions (Jaya Shree, Indo-Gulf Fertilisers, Indian Rayon & Aditya Birla Insulators)

Revenue

FY14 FY15 ∆% (` Crore)

EBITDA

FY14 FY15 ∆% Remarks on profitability

1,300 1,435 10% Jaya Shree 172 175 2% Higher profitability in Linen segment offset by lower wool

combing volumes

2,313 2,558 11% Agri 77 148 90% Improved energy efficiency, higher fixed cost reimbursement

as per Government policy and increased sales of pesticides

860 865 ↔ Rayon 222 197 11% Profitable growth in VFY segment offset by lower caustic

volumes & ECU realisation

505 548 8% Insulators 83 95 14% Higher sales volume & realisation in substation segment

4.979 5,405 9% Total 554 615 11%

42

Jaya Shree

Increasing popularity of Linen as a comfort & style fabric will drive growth of linen fabric demand at a CAGR of 10% in

next five years. To meet the growing demand in India, currently ~70% of linen yarn demand is met through imports

denoting expansion opportunity for domestic players

Jaya Shree commands domestic leadership position in Linen & Wool segments

Linen Capacities : Yarn - 3,400 TPA, Fabric - 10.1 million metres p.a.

Wool Capacities : Worsted Yarn - 26,356 spindles, Wool Combing - 8 Cards

Focusing on retail expansion & brand promotion to fortify ‘Linen Club’ fabric brand

Retailing linen fabric through 115 EBOs and 3,500+ MBOs

Rising share of linen led by expansion contributing to profitable growth

Targeting to further expand Linen Yarn capacity from 3,400 TPA to 6,400 TPA at

a capex of ~` 220 Cr. by 2016, to tap sector growth

Operating at a sound ROACE of 53% p.a.

99

141154

172 175


EBITDA (` Crore)

774

1,0461,144

1,3001,435


Revenue (` Crore)

198

88

179

317

237


32%

82% 97%

57% 53%

ROACE(%) Capital Employed (` Cr.)

53%47%

39%61%

FY11

FY15Wool Linen

Jaya Shree Revenue Mix

43

Acute deficit of urea in India – Approx. 1/4th of the urea demand is imported

Government’s gas pooling policy aiming to improve plant efficiency & reduce subsidy outgo will benefit the sector

Indo-Gulf is the 8th largest & one of the most energy efficient urea plants in India

A complete agri-solutions provider offering Fertilisers, Seeds and agro-chemicals

Strong brand “ Birla Shaktiman” is preferred choice of farmers

Also offering value adding variety – Neem coated “Krishi Dev”

Due to government policy for urea production beyond 100% quantity as permissible under Pricing mechanism,

few urea manufacturers had to take urea plant shutdown. Indo-Gulf had to take urea plant shutdown for 35 days, thereby,

pulling down earnings from normalised level. In FY14 too, plant shutdown was taken for 41 days

In FY15, Revenue grew y-o-y by 11% largely due to pass through of rise in natural gas prices. EBITDA surged y-o-y by

90% to ` 148 Cr. led by improved energy efficiency and higher fixed cost reimbursement as per Government policy

Indo Gulf Fertilisers (Agri-business)

1,244

2,107

2,924

2,3132,558


Revenue (` Crore)

176

211197

77

148


EBITDA (` Crore)

496

984

1854 1616 1641


39% 26%

12% 3% 7%


44

VFY has a niche market globally - Premium is driven by quality and value added yarns

Indian Rayon is the 2nd largest producer of VFY in India with a capacity of 19,800 tons p.a.

Integrated facilities : Cost effective 34.5 MW captive power plant

Expanded its presence in fine & superfine VFY segment using Spool Technology from Germany at a capex of ~ ` 270 Cr.

in Mar’13. The new unit will help in enhancing product quality & range, in superfine segment.

In FY15, VFY segment posted higher profitability led by expanded new superfine yarn capacity. In Chemicals Segment,

maintenance shutdown in Caustic Soda plant & lower ECU realisation impacted earnings

Total Revenue grew marginally y-o-y to ` 865 Cr., EBITDA de-grew y-o-y by 11% to ` 197 Cr.

Operating at an ROACE of 21%

Indian Rayon (VFY and Chemicals)

565680

777860 865


Revenue (` Crore)

110128

189222

197


EBITDA (` Crore)

440 515

681 759 757


17% 19% 26% 24% 21%


81%

19%

FY15

ChemicalsVFY

Revenue Mix

45

Used in power generation, Transmission & distribution (T&D) and by Original Equipment Manufacturers (OEMs)

Aditya Birla Insulators is largest domestic producer & 4th largest globally with a capacity of 45,260 TPA

Power Grid corporation of India & State Electricity Boards , ABB, Areva, Siemens etc. are amongst major customers

Insulators industry’s domestic sales volume de-grew y-o-y by 12% during Apr’14-Jan’15 (Source : IEEMA)

Revenue of Aditya Birla Insulators grew y-o-y by 8% to ` 548 Cr., EBITDA rose by 14% to ` 95 Cr.

Profitability in the transmission segment was lower due to 42 days disruption / suspension of plant operations in

Q1FY15 caused by stoppage of work in the plant by workers, pending long term wage settlement.

ROACE improved from 15% p.a. to 17% p.a.

Cheaper Chinese imports had adversely impacted domestic players and the industry had appealed for anti-dumping duty.

The Ministry of Finance, on 16th Sep’14, imposed an interim anti-dumping duty on imports of insulators from China and

on 11th Apr’15, extended the duty till 15th Sep’19 to create a level playing field for the domestic manufacturers

Aditya Birla Insulators

518468 454 505

548


Revenue (` Crore)

134

67 6183

95


EBITDA (` Crore)

362 375 395 430

455


34%

12% 10% 15% 17%


47

Consolidated Results - Segmental ( ` Crore)

Consolidated Results

2013-14

(PY)

2014-15

(CY)

2013-14

(PY)

2014-15

(CY)

6,637 7,926 Aditya Birla Financial Services 725 814

4,702 5,267 Life Insurance 371 285

1,946 2,666 Other Financial Services* 354 529

(11) (7) Elimination - -

6,669 7,467 Telecom (Nuvo's share) @ 952 1,305

4,759 5,450 Fashion & Lifestyle 199 261

2,898 283 IT-ITeS^ 181 (16)

4,979 5,405 Divisions 430 494

1,300 1,435 Jaya Shree 141 146

2,313 2,558 Agri 56 116

860 865 Rayon 172 156

505 548 Insulators 61 76

(50) (16) Inter-segment Elimination -

25,892 26,516 Consolidated Results 2,487 2,857

Revenue EBIT

@ Idea is consolidated at ~25.3% till 10th June 2014, at 23.63% till 23rd July 2014 and at 23.29% thereafter

^ Divested w.e.f 9th May 2014

* Other Financial Services include Asset Management, NBFC, Housing Finance, Private Equity, Broking, Wealth Management, online money management & General Insurance

Broking businesses. Interest cost of NBFC business, being an operating expense as per AS 17, is deducted from Segment EBIT

48

Profit & Loss ( ` Crore)

2013-14

(PY)

2014-15

(CY)

2013-14

(PY)

2014-15

(CY)

8,021 8,938 Revenue 25,892 26,516

1,246 1,186 EBITDA 4,927 5,798

- - Less : NBFC Interest expenses 742 1,105

267 263 Less : Other Interest Expenses 809 652

979 922 EBDT 3,376 4,041

199 189 Less : Depreciation 1,609 1,703

780 733 Earnings before Tax (before exceptional items) 1,767 2,338

24 - Exceptional Gain / (Loss) 5 (13)

804 733 Earnings before Tax 1,772 2,325

130 205 Less : Provision for Taxation (Net) 550 833

- - Less : Minority Interest 79 76

674 528 Net Profit 1,143 1,416

Stanadlone Full Year

Profit & Loss Account

One-off items:

In FY15, consolidated profit was lower by ` 36 Cr. on account of net loss of ` 23 Cr. from operations of Minacs for the period from 1st Apr’14 to 8th May’14 & exceptional loss of ` 13

Cr. pertaining to the divestment of Minacs. This loss is without considering deferred grant of ` 42 Cr. receivable over next 3 years, which will be accounted for on actual receipt basis.

In FY14, consolidated profit was higher by ` 65 Cr. on account of divestment of Carbon Black business (including net tax credit of ` 41 Cr.) and interest cost is higher by one-time

charge of ` 88 Cr. on redemption of CCDs by Minacs owing to its divestment. Exceptional items in FY14 include loss of ` 19 Cr. on impairment of goodwill relating to investments in

broking & wealth management businesses and gain of ` 24 Cr. on divestment of Carbon Black business

49

( ` Crore) Balance Sheet

8,108 8,519 Net Worth 11,189 12,871

- - Minority Interest 778 802

3,753 3,688 Debt 10,893 11,391

- - NBFC borrowings 9,647 14,594

88 106 Deferred Tax Liabilities (Net) 504 485

11,949 12,314 Capital Employed 33,012 40,142

- -

Policyholders' funds (Incl. funds

for future appropriation) 23,557 28,839

11,949 12,314 Total Liabilities 56,569 68,981

1,845 1,859 Net Block (Incl. Capital Advances) 13,045 12,342

20 20 Goodwill 4,982 3,973

- - NBFC Lending 11,550 17,550

1,574 1,635 Net Working Capital 730 315

7,952 8,695 Long Term Investments 410 408

- - Life Insurance Investments 24,764 30,147

- - Policyholders' Investments 23,435 28,595

- - Shareholders' Investments 1,329 1,552

557 105 Cash Surplus & Current Investments 1,089 4,246

623 655 Book Value (`) 860 989

2.6 3.0 Net Debt / Annualised EBITDA (x) 2.3 1.5

0.39 0.42 Net Debt / Equity (x) 0.88 0.56

14,196 21,654 Market Capitalisation - NSE

Mar-15

Consolidated

Mar-14Mar-14 Mar-15

Standalone

Balance Sheet

Note : 1. Standalone capex of ` 222 Cr. was incurred in FY15. Capex guidance for FY16 stands at ` 300 Cr.

2. Investments of ` 600 Cr. are planned in financial services businesses in FY16

3. Board of Directors of ABNL has recommended an equity dividend of 70% (` 7 per share) for FY15 entailing outgo of ` 109.6 Cr. (incl. DDT of ` 18.5 Cr.)

50

Shareholding Pattern & Market Cap

Trusted by over 132,500 shareholders

Over 98% of shares are in dematerialised form

Face value of ` 10 per share

For analysts coverage on ABNL visit :

Stock Code: BSE : 500303 NSE : ABIRLANUVO Reuters : ABRL.BO / ABRL.NS / IRYN.LU Bloomberg : ABNL IN / IRIG LX

http://www.adityabirlanuvo.com/Analyst_Coverage.php

No . of

Shareholders

Shareholding

(%)

Promoter & Promoter Group 19 74.44 57.20%

Foreign Institutional Investors 333 20.39 15.66%

Domestic Institutional Investors 188 14.55 11.18%

Non-Institutional Investors 1,31,961 17.59 13.52%

GDR's 4 3.17 2.43%

Total 1,32,505 130.14 100.00%

No. of Shares

held (in million)

As on 31st March 2015

Category

402

748 1071

1396

445

906 814 945 976 1091

1664 1842

2,409

6,246

9,992 13,265

4,227

9,336 9,244 10,723 11,727

14,196

21,654 23,977

Mar'05 Mar'06 Mar'07 Mar'08 Mar'09 Mar'10 Mar'11 Mar'12 Mar'13 Mar'14 Mar'15 15th May'15

ABNL Share Price (`) Market Cap (` Cr.)

http://www.adityabirlanuvo.com/Analyst_Coverage.php

52

Transaction Structure

ABNL

Transaction Steps

PFRL

58.3% 41.7%

27.4% 72.6% #

ABG Public

1 ABNL

MGLRCL

Madura

Lifestyle

2

100% #

Pre Transaction Post Transaction

39.84% 9.06% #

ABG Public

1

PFRL / ABFRL

Madura

Lifestyle

51.1%

Swap Ratio

# Including indirect holding

• Mirror Demerger of Madura Fashion division into PFRL

• Mirror Demerger of Madura Lifestyle division into PFRL

Net debt of ~Rs. 473 Cr. will be transferred along with the

businesses into PFRL. Transaction is subject to corporate &

regulatory approvals and is expected to take 6 to 9 months

1

2

26 equity shares of PFRL for every 5 equity shares of ABNL

7 equity shares of PFRL for every 500 equity shares of

MGLRCL

1 equity share of PFRL for all o/s preference shares of

MGLRCL

Shareholder holding 100 shares in ABNL will continue to hold 100 shares in ABNL & in addition will get 520 shares of PFRL

53

Transaction Details

Transaction is expected to be completed in next 6 - 9 months

Advisors

Key Regulatory Approvals

Regulatory Body Requirement

Stock Exchange and SEBI

Scheme filing after board approval

Post court order – Allotment of shares

Approval for listing of shares

High Courts Bombay and Gujarat High Courts

Transaction Advisor • Standard Chartered Bank

Independent Fairness Opinion • Axis Capital Limited

• JM Financial Institutional Securities Pvt. Ltd.

Legal Advisor • Amarchand & Mangaldas & Suresh A Shroff & Co.

Valuation Expert • Price Waterhouse & Co. LLP

• Bansi S Mehta & Co.

54

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 Nuvo Limited ("ABNL"), 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 ABNL'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 ABNL conducts business. Important factors that

could make a difference to ABNL’s operations include global and Indian demand supply conditions, finished goods prices, feed stock availability and

prices, cyclical demand and pricing in ABNL’s principal markets, changes in Government regulations, tax regimes, competitors actions, economic

developments within India and the countries within which ABNL 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 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 ABNL.

ABNL, 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. 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 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 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 Nuvo Limited

Corporate Identity Number L17199GJ1956PLC001107

Regd. Office: Indian Rayon Compound, Veraval – 362 266 (Gujarat)

Corporate Office: 4th Floor ‘A’ Wing, Aditya Birla Center, S.K. Ahire Marg, Worli, Mumbai – 400 030

Website: www.adityabirlanuvo.com or www.adityabirla.com Email: [email protected]

Copyright © 2015 Aditya Birla Nuvo

http://www.adityabirlanuvo.com/

http://www.adityabirla.com/

mailto:[email protected]



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