Transcript of the earnings conference call for the Quarter ended June 30, 2025, held on August 08, 2025
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Abans Financial Services reported Q1 FY26 consolidated revenue of INR 1,895 crores, EBITDA of INR 52.8 crores, and net profit of INR 32.69 crores (up 35% YoY). AUM crossed INR 3,500 crores for the first time, with INR 1,300 crores coming via distribution partners. Management highlighted strong momentum in fee-based investment services (FY25 segment revenue of INR 165 crores with INR 102 crores PBT) and is expanding through new asset classes, GIFT City operations, merchant banking entry, and a UK subsidiary back office now fully operational. Management guided that AUM is expected to double every 12–18 months and that margins will expand as fee-based businesses scale on largely fixed infrastructure costs. A merger of broking subsidiaries into Abans Broking Services was also discussed to consolidate licenses and enable institutional broking capabilities.
Positive for shareholders — strong profit growth, rising AUM, and explicit margin expansion guidance suggest improving earnings quality. The focus on recurring fee income over lending could lead to more stable, asset-light returns, though the stock remains under-discovered according to management.