Computer Age Management Services Limited has informed the Exchange about Transcript
CAMS · price
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CAMS reported FY25 revenue growth of 25%, with EBITDA up ~30% and PAT up 33% (margin 32%). Q4 FY25 revenue grew 14.7% YoY but fell 3.7% QoQ to ~INR356 crores, impacted by a pricing reset with one major client (about half of the impact already in Q4 base, remaining to flow through Q1-Q2 FY26). EBITDA margin held at 44.9% for the quarter despite headwinds, and non-MF revenue grew 15.8% YoY, contributing 13.7% of Q4 revenue. Yields (AUM fee bps) dropped to 2.24 from 2.33, with management guiding a further 6-7% annual decline next year. The company onboarded Angel One and Unifi as new AMC clients, with 5 more (Jio BlackRock, Pantomath, Choice, Torus Oro, CeyBank) set to go live within 6 months. CAMSPay revenue surged 85% YoY, AIF grew 16%, and repository market share crossed 40% with LIC signing up.
Short-term: Revenue and yield will remain under pressure in Q1-Q2 FY26 due to the staggered pricing reset, with management indicating quarterly revenue should not breach the INR355-360 crores floor. Long-term: Margin expansion is expected as non-MF EBITDA margins move toward 20% and new AMC mandates scale, supporting sustained mid-teens revenue growth despite ongoing yield compression.