Manages pooled mutual fund portfolios for Indian investors and charges fees as a percentage of assets under management (AUM). In Q1 FY27, quarterly average AUM stood at ₹9.35 trn with an 11.2% share of the industry mutual fund market (12.4% excluding ETFs); equity-oriented funds made up 65.7% of AUM versus 56.6% for the industry, with actively managed equity AUM of ₹5.74 trn. The customer base spans 16.7 million unique investors across 30 million total folios, with new investor acquisition running heavily through a fintech distribution channel that registered 8.6 million systematic investment plans (SIPs) in the quarter. Alongside the core equity, debt and liquid fund business, an alternatives platform manages ₹148 bn (up from ₹60 bn a year earlier), spanning a private credit fund and a newly seeded VC/PE fund; a first Specialized Investment Fund (SIF) has also been approved. For FY26, revenue from operations was ₹41.2 bn and PAT was ₹28.6 bn; FY27 opened with the regulator's shift from TER to BER on 1 April 2026, with management maintaining an operating margin corridor of 33–35 bps of AUM. The cost base is dominated by employee expenses at 11.7% of revenue and other operating expenses at 8.2%; there is no materials input. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Actively managed equity funds, Debt and liquid funds, Alternatives platform, Distribution and other operating income. Asset-light, fee-based asset management; revenue scales with AUM and bps yield per asset class.
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 2,167 | 2,584 | 3,498 | 4,122 |
| EBITDA (ex other income) | 1,617 | 1,957 | 2,792 | 3,295 |
| margin % | 74.6 | 75.7 | 79.8 | 79.9 |
| Owners' profit | 1,423 | 1,943 | 2,460 | 2,858 |
| EPS, as reported (₹) | 66.72 | 91.00 | 115.16 | 66.77 |
| ROE % · ROCE % | 23.3 · — | 27.5 · — | 30.3 · — | 31.0 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 1,149 | 1,615 | 2,075 | 2,528 |
| Capex | (7) | (14) | (40) | (20) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 887 | 935 | 901 | 968 | 1,027 | 1,075 | 1,052 | 1,100 |
| Profit before tax | 858 | 840 | 835 | 986 | 876 | 1,014 | 834 | 1,089 |
| Net profit | 577 | 641 | 638 | 748 | 718 | 769 | 623 | 837 |
| EPS (₹) | 26.99 | 30.02 | 29.87 | 34.95 | 33.58 | 17.97 | 14.54 | 19.53 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ICICI PRUDENTIAL AMC LTD | 1,50,265 | 56.8 | 36.02 | — | 79.1 | — | — | 84.0 |
| HDFC AMC LIMITED ◆ | 1,03,046 | 28.1 | 11.17 | 27.1 | 31.0 | — | — | 101.2 |
| NIPPON L I A M LTD | 76,051 | 46.3 | 16.32 | 37.7 | 32.8 | — | 20.6 | 88.4 |
| ADIT BIRL SUN LIF AMC LTD | 31,436 | 31.2 | 7.78 | 23.8 | 24.1 | — | — |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Sept 2026 · HDFC AMC schedules five investor and analyst meetings in September 2026 | board shareholder meetings | low | — | — |
| 20 Aug 2026 · HDFC AMC allots 23,752 shares under ESOP schemes | capital market events | low | — | — |
| 18 Aug 2026 · HDFC AMC to attend Ashwamedh Elara India Dialogue 2026 on Sep 1 | board shareholder meetings | low | — | — |
| 11 Aug 2026 · ESG rating of 74 assigned by NSE Sustainability | business updates | medium | — | — |
| 4 Aug 2026 · HDFC AMC Head-Operations V Suresh Babu to retire on 30 Sep 2026 | management changes | medium | — | — |
| 4 Aug 2026 · HDFC AMC: Head of Operations V. Suresh Babu resigns, duties reassigned internally | management changes | medium | — | — |
| 3 Aug 2026 · HDFC AMC announces schedule of investor and analyst meetings | board shareholder meetings | low | — | — |
| 20 Jul 2026 · HDFC AMC allots 1,33,528 shares under ESOP schemes | capital market events | low | — | — |
| 17 Jul 2026 · Q1 FY27 earnings call transcript filed | investor communications | medium | — | — |
| 16 Jul 2026 · HDFC AMC receives independent ESG rating of 80.9 from SES | business updates | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 90.7 |
| UTI ASSET MNGMT CO LTD | 11,702 | 25.4 | 2.60 | 16.3 | 10.5 | — | 7.8 | 65.9 |
| CANARA ROBECO AMC LIMITED | 4,774 | 17.1 | 6.40 | — | 27.3 | 35.9 | — | 88.2 |
| SHRIRAM ASSET MANAGEMENT CO.LT | 453 | — | 2.97 | — | (13.3) | — | — | (370.7) |
| IL&FS INVESTMENT MANAGERS | 287 | 57.2 | 1.36 | 30.9 | 2.3 | — | 3.5 | 36.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 28.1 | 31.2 | 3 of 7 | 67% |
| P/B | 11.2 | 7.1 | 6 of 8 | 29% |
| ROE | 31.0 | 25.7 | 3 of 8 | 71% |
| Debt / Equity | 0.0 | 0.0 | 1 of 8 | 0% |
| EBITDA margin | 101.2 | 86.1 | 1 of 8 | 100% |
| Revenue growth | 13.6 | 20.0 | 4 of 6 | 40% |
| Profit growth | 12.0 | 13.9 | 4 of 6 | 40% |
| Market cap | 103046 | 21569 | 2 of 8 | 86% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
