Aditya Birla Capital Apr ’36
How this yield compares
About this bond
Aditya Birla Capital Apr ’36 is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 8.12%. It pays a coupon of 8.07% and matures on 29 Apr 2036, a remaining tenure of about 9.7 yr. It is rated AAA, the highest credit-safety grade. BondScanner lists this bond with a minimum investment of ₹1.0L.
Its 8.12% yield is solid for its risk band, toward the lower end at 164th of 175 Corporate bonds. That trails the Corporate median of 10.75% by 2.63 points, so the trade-off is lower yield for whatever else this issuer offers. A comparable SBI fixed deposit yields about 6.55%, so this bond adds roughly 1.57 points for taking on credit risk. Its long 9.7 yr horizon locks in today's yield well into the future - useful if rates fall, a drag if they rise. Paired with its highest safety (AAA) rating, that leans toward the safety-first end. Compare it against similar bonds on RightBonds before investing.
Investors comparing this bond often also look at Aditya Birla Capital (INE674K08018) at 8%, Poonawalla Fincorp (INE511C07953) at 7.5% and Jio Credit (INE282H07067) at 7.5%.
Bond details
What you keep after tax
Interest on a listed corporate bond is added to your income and taxed at your slab, so the 8.12% headline is a pre-tax number. Here is the same bond seen from each slab, on ₹1,00,000 held for the remaining 9.7 yr.
| Your tax slab | Post-tax yield | ₹1,00,000 becomes |
|---|---|---|
| No tax (income under the exemption limit) | 8.12% | ₹2,14,002 |
| 5% slab | 7.71% | ₹2,06,298 |
| 20% slab | 6.50% | ₹1,84,657 |
| 30% slab | 5.68% | ₹1,71,385 |
At a 8.07% coupon, ₹1,00,000 of face value pays about ₹8,070 of interest a year, under the ₹10,000 Section 193 threshold, so no TDS is withheld.
Slab rates only - surcharge and cess are not included, and the figures assume you hold to maturity. Sold on the exchange after 12 months instead, the gain is taxed as long-term capital gains at 12.5%. Not tax advice.
Against a fixed deposit, in rupees
Same ₹1,00,000, same 9.7 years, one in this bond and one in a tenure-matched SBI fixed deposit at 6.55%.
Bond figure compounds the yield annually; the FD compounds quarterly, as a cumulative bank FD does. Both are pre-tax and assume the bond is held to maturity and the issuer pays in full - the AAA credit risk is the reason for the gap.
When you get paid
Interest lands once a year, in Apr, with about 10 payments still to come before 29 Apr 2036, each at the 8.07% coupon rate.
Payment months come from the issuer's schedule. Exact dates within the month, and the amount per payment, depend on the face value of the units you buy - check the term sheet on BondScanner before investing.