HDFC Asset Management Company Ltd

Meeting Details

• Date: September 1, 2026; Time: Not disclosed.
• Venue: Mumbai.
• Type/Mode: Conference - in-person (one-on-one and group).
• Event: Ashwamedh - Elara India Dialogue 2026.
• Purpose: Investor/analyst meeting with company representatives.
• Participants: Company representatives.

ESG rating update

• NSE Sustainability assigned ESG rating of 74 via email dated August 10, 2026.
• Company states it did not engage NSE Sustainability; rating prepared independently from public-domain information.

Financial Performance

• Revenue from operations grew to INR 11 billion, up 14% YoY.
• Other income stood at INR 2.6 billion.
• Total cost for the quarter was INR 2.7 billion.
• Operating profit rose 10% YoY; margin 35 bps of AUM.
• Profit after tax stood at INR 8.4 billion, up 12% YoY.

AUM and Market Position

• QAAUM at INR 9.35 trillion, up 13% YoY; market share 11.2%.
• Excluding ETFs, market share stood at 12.4%.
• Actively managed equity QAAUM: INR 5.74 trillion, up 16% YoY.
• Equity orientation: 65.7% of QAAUM vs industry 56.6%.
• Debt QAAUM: INR 1.66 trillion; market share 12.9%.
• Liquid QAAUM: INR 851 billion; market share 10.7%.
• Unique investors added 0.46 million in the quarter; industry 0.53 million.
• Mutual fund investor penetration: 28% of investors; up from 25%.
• SIP+STP: INR 48.1 billion in June 2026; +20% YoY.
• Total alternatives AUM: INR 148 billion; up from INR 60 billion.
• VC/PE fund seeded with a $50 million commitment; private credit fund to close this quarter.

Flows and Investor Base

• June 2026 SIP inflows: INR 31,800 crores; YoY +17%.
• Folios: 279 million; up from 241 million year ago.
• Mutual fund investor base: 61.9 million as of June 2026.
• SIP momentum: industry ~INR 30,000 crores over six months.
• Fintechs registered 8.6 million SIPs in quarter.
• MF penetration 28% and growing; long-term orientation emphasized.

Alternatives and New Funds

• Total alternatives AUM: INR 148 billion; increasing from prior year.
• A marquee global investor seeded VC/PE fund with $50 million.
• Private credit fund to close this quarter; broader SIF product roadmap.

Costs and Margins

• CSR expenditure varies with partner requirements; higher this quarter.
• Employee costs rose due to year-end increments; ESOP shown separately.
• ESOP noncash costs for FY27: INR 79–80 crore; FY28: 63 crore; FY29: 41; FY30: 11.
• Opex management aims to keep margins at 33–35 bps of AUM.
• PMS/AIF fees: discretionary PMS margins 80–90 bps; non-discretionary tight economics.

Q&A Highlights

• Board will decide buybacks versus dividends; no clear stance yet.
• Long-term performance track record emphasized; focus on 3–5–10 year horizons.
• Direct vs distributor trends: fintech channels expanding access; SIP flows sustaining.
• PMS margins: discretionary in line with equity; nondiscretionary tight economics.
• TER to BER transition discussed; margins maintained via cost optimization and structure.

ESG rating update

• ESG rating of 80.9 assigned to HDFC Asset Management by SES ESG Research Private Limited.
• The company has not engaged SES ESG for any rating or report.
• Rating was independently prepared by SES ESG Research based on information publicly available.
• Rating communicated via email dated July 15, 2026; filing dated July 16, 2026.
• No financial impact disclosed; rating is informational and independent of company actions.

Meeting Details

• Date: July 15, 2026; Q1 FY27 earnings call for quarter ended June 30, 2026.
• Event/organiser: Earnings call hosted by HDFC Asset Management Company Limited.
• Type: earnings call; Mode: not specified.

Participants

• Key management participants not disclosed in filing.

Purpose

• Purpose: discuss Q1 FY27 results for quarter ended June 30, 2026.

Additional Notes

• Audio recording of the earnings call uploaded on the company website (shareholders presentation section).

Business Overview

• Mutual funds, PMS, AIF, and alternatives comprise core business.
• WOS in GIFT City; strong digital platforms and distribution network.
• Q1 FY27 QAAUM ₹9,351 bn; 11.2% mutual fund market share.
• Active equity QAAUM ₹5,740 bn; 12.8% active equity market share.
• EPFO/SPFO mandates secured; IFC anchor investor.
• Launched Select Opportunities Fund (CAT II) and Emerging Opportunities Fund I (CAT III).
• PMS AUM ₹122 bn; AIF commitments ₹26 bn.
• Total Live Accounts 31.1 million; 280 offices; 196 in B-30.
• Cyber-security incident in May 2026; no material impact.

Operational Highlights

• QAAUM 11.2% market share; actively managed equity 12.8%.
• June 2026: 17.2 million systematic transactions, ₹48.1 bn.
• 10 lakh distribution partners; 280 offices, 196 in B-30.
• Digital transactions: 98% of total in Q1 FY27.
• IFC onboarded as partner and anchor investor.
• WOS in GIFT City supports international business.
• PMS AUM₹122 bn; AIF commitments₹26 bn.
• Total Live Accounts 31.1 mn; unique PAN/PEKRN 17.1 mn.

Financial Performance

• Revenue from operations ₹10,985 mn; +14% YoY.
• Total income ₹13,611 mn; +13% YoY.
• Operating profit ₹8,276 mn; margin 35 bps.
• PAT ₹8,383 mn; +12% YoY.
• Total assets ₹88,054 mn; total equity ₹78,007 mn (as at Jun 30, 2026).
• Closing AUM ₹9.319 tn; Equity-oriented AUM ₹6.346 tn.
• Total investments ₹80,508 mn; mutual funds 88.7%.

Capital Structure & Liquidity

• Balance sheet: total assets ₹88.054 bn; total equity ~₹78.007 bn.
• Total investments ₹80.508 bn with mutual funds exposure ~88.7%.

Strategic Priorities & Outlook

• Launch of Select Opportunities Fund CAT II; Emerging Opportunities Fund I CAT III approvals.
• IFC anchor investor; EPFO/SPFO mandates continue to support growth.
• WOS in GIFT City to bolster international business footprint.
• Digital platform enhancements: AI chatbot, 24/7 statements, WhatsApp transact; 98% digital.
• ESG governance: 56% independent board; ESG & CSR committee active.

Risks & Mitigation

• Cyber-security incident on May 16, 2026; interim relief obtained; strengthened safeguards implemented.

Governance & Leadership

• Board independence at 56%; ESG & CSR committee drives governance framework.

Standalone highlights

• Total income ₹1,361.06 cr, up ~13% YoY from ₹1,200.44 cr.
• Revenue from operations ₹1,098.50 cr; QoQ +4.6%.
• PBT ₹1,090.25 cr; QoQ +30.9% from ₹833.94 cr.
• PAT ₹838.36 cr; QoQ +34.5%; YoY +12.1%.
• Basic EPS ₹19.56; Diluted ₹19.49.
• Total comprehensive income ₹834.29 cr.
• No segment reporting; results reflect asset management business.

Consolidated highlights

• Total income ₹1,362.56 cr, up ~13.5% YoY from ₹1,201.16 cr.
• Revenue from operations ₹1,099.72 cr; QoQ +4.6%.
• PBT ₹1,089.02 cr; QoQ +30.6% from ₹833.58 cr.
• PAT ₹837.13 cr; QoQ +34.5%; YoY +12.0%.
• Basic EPS ₹19.53; Diluted ₹19.46.
• Total comprehensive income ₹833.04 cr.
• No segment reporting; results reflect asset management business.

Capital actions & incidents

• Bonus issue 1:1 completed Nov 2025; 214.15 million shares allotted.
• Final dividend ₹54 per equity share for year ended Mar 31, 2026.
• Cyber-security incident May 16, 2026; interim relief May 29, 2026; no material impact.