Aditya Birla SL Mfg. Equity Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Aditya Birla SL Mfg. Equity Fund Direct Growth Plan has a NAV of ₹44.74 as of 10 Sep 2026 and an AUM of ₹1,401 Cr. Its 1-year, 3-year and 5-year returns are 24.35%, 21.41% and 15.62% respectively, and the scheme sits in the High Risk bucket. Our view is that this is a cyclical equity fund with strong multi-year compounding, but one that can move sharply over shorter periods.

The mix of recent gains, a higher expense ratio of 1.33%, and a portfolio tilted toward manufacturing-linked businesses means the fund may suit investors who can accept sharper swings for long-term growth potential.

Quick facts

Particular	Details
NAV	₹44.74 as of 10 Sep 2026
AUM	₹1,401 Cr
Expense Ratio	1.33%
Launch Date	03 Feb 2015
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	1% on or before 90D, Nil after 90D
Fund Managers	Dhaval Joshi

The fund is managed by Dhaval Joshi.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.65%	-4.06%
3M	14.28%	1.37%
1Y	24.35%	-7.31%
3Y	21.41%	6.07%
5Y	15.62%	5.91%

The fund has clearly had a strong recent run. Over 1 month, 3 months and 1 year, it stayed ahead of the benchmark by a wide margin, and the 1-year number is especially notable because the benchmark was negative over the same stretch. That tells us the portfolio’s sector exposure has helped during the latest phase of the market.

The longer record is still constructive. The 3-year return remains strong at 21.41%, which is well ahead of the benchmark, and the 5-year return of 15.62% also stays above the benchmark’s 5.91%. So the fund is not only benefiting from a short burst; it has also compounded better than the index over the medium term.

At the same time, the path has not been smooth. The return pattern shows periods of weakness and recovery rather than a straight upward climb. That is consistent with a manufacturing-oriented equity strategy, where earnings and sentiment can change quickly. For investors, the main takeaway is that the fund has outperformed the benchmark across all the periods shown, but that outperformance has come with the kind of movement you would expect from a High Risk equity fund.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Aditya Birla SL Mfg. Equity?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Aditya Birla SL Mfg. Equity Fund Direct Growth Plan	24.35%	21.41%	15.62%
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	73.94%	37.12%	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	29.94%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	29.26%	Data not available	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	28.30%	Data not available	Data not available
SBI Automotive Opportunities Fund Direct Growth Plan	27.13%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On 1-year performance, the fund trails the fastest-moving peer funds in this group, although it is still ahead of its benchmark. The 3-year and 5-year figures are more balanced: the fund remains strong over both horizons, but the available peer data shows some peers with higher shorter-term momentum where longer-term figures are missing. That means the short-term comparison looks less competitive than the multi-year comparison, even though the fund remains comfortably above the benchmark on every period shown.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
TREPS	Cash & Cash Equivalents and Net Assets	3.58%
Reliance Industries Ltd.	Crude Oil	3.34%
Cummins India Ltd.	Automobile & Ancillaries	3.12%
Sansera Engineering Ltd.	Automobile & Ancillaries	2.87%
Mahindra & Mahindra Ltd.	Automobile & Ancillaries	2.68%
Happy Forgings Ltd.	Automobile & Ancillaries	2.44%
Hindalco Industries Ltd.	Non – Ferrous Metals	2.36%
Sona BLW Precision Forgings Ltd.	Automobile & Ancillaries	2.19%
Jindal Steel Ltd.	Iron & Steel	2.18%
TD Power Systems Ltd.	Capital Goods	2.17%

The top 10 holdings account for approximately 26.93% of the portfolio.

To see all holdings, visit the Aditya Birla SL Mfg. Equity Fund Direct Growth Plan page

The largest disclosed holding is TREPS at 3.58%, and the rest of the top positions stay in a fairly tight band between 3.34% and 2.17%. That pattern suggests no single stock dominates the visible portfolio slice, even though the list is clearly built around manufacturing and industrial names.

Weight falls only gradually from the first holding to the tenth, which points to a measured spread across the top names rather than an extreme concentration at the top. The top 10 together account for 26.93% of holdings, while the disclosed portfolio contains 65 positions overall, so the fund appears to rely on a longer tail of smaller allocations as well. That mix may reduce dependence on any one position, but the manufacturing theme still means the portfolio could remain sensitive to the same broad economic drivers.

Source data date: as of 10 Sep 2026

Who should invest

This fund is better suited to investors with a high tolerance for volatility and a long enough horizon to ride through uneven stretches. The 1-year, 3-year and 5-year return pattern shows that the fund has rewarded patience, but the path has not been linear.

Its benchmark comparison is a strength, because it has stayed ahead of Nifty 50 across every period shown. The trade-off is that the portfolio leans into a manufacturing-led theme, so returns may move more sharply than a broad market fund when industrial demand, earnings momentum or sentiment changes.

An investor who wants equity exposure with a clear industrial tilt may find the profile appealing, provided they are comfortable with a High Risk label and the possibility of periods of sharper drawdown.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: 1% if units are sold within 90 days; no exit load after 90 days.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Aditya Birla SL Mfg. Equity Fund Direct Growth Plan?

The current NAV is ₹44.74 as of 10 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The fund’s returns are 24.35% over 1 year, 21.41% over 3 years and 15.62% over 5 years.

How has it performed versus Nifty 50?

It has stayed ahead of Nifty 50 across every period shown. The gap is especially clear over 1 year, where the fund is positive while the benchmark is negative.

How does it compare with the peer funds listed here?

On the 1-year figure, several peers have shown stronger short-term momentum, but some of them do not have longer-term figures available. The fund’s 3-year and 5-year numbers still look solid against the peer set where data is available.

What is the minimum SIP?

The minimum SIP is ₹100.

Who manages the fund and what is the exit load?

The fund is managed by Dhaval Joshi. The exit load is 1% if units are sold within 90 days, and there is no exit load after 90 days.

Bottom line

Aditya Birla SL Mfg. Equity Fund Direct Growth Plan has shown a better recent and multi-year return pattern than Nifty 50, but the journey has been uneven, which matches its High Risk profile. Compared with the peer funds shown here, the fund’s 1-year return is more modest, while its 3-year and 5-year figures remain respectable where peer data is available. The portfolio is built around industrial and manufacturing-linked names, so it may appeal to investors who want that thematic tilt and can stay invested through volatile phases.

Published on 11 September 2026 at 3:54 PM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.