HDFC Asset Management Company Ltd

Meeting Details

• Board meeting scheduled for Thursday, October 15, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for quarter and half year ending Sep 30, 2026.

Other Notes

• Trading window for designated persons and their immediate relatives closed Oct 1–17, 2026.

Allotment Details

• Share Allotment Committee approved allotments via circular resolutions on September 21, 2026.
• (i) 2,62,572 equity shares of Rs 5 under ESOP 2020; numbers 42,88,10,535–42,90,73,106.
• (ii) 292 equity shares of Rs 5 under ESOP and PSU Scheme -2025; numbers 42,90,73,107 to 42,90,73,398.
• Post allotment, paid-up capital stands at Rs 2,14,53,66,990 comprising 42,90,73,398 shares.

ESG rating disclosure

• ESG rating assigned by Niche Ninety Nine Capability and Certifications (OPC) Private Limited: 78.72.
• Company states it did not engage the rating firm; rating prepared independently from public-domain information.

Meeting Schedule

• 08 Sep 2026, Mumbai; In-person group meeting with sell-side analyst group.
• 10 Sep 2026, Mumbai; UBS India Summit 2026, in-person conference; one-on-one/group.
• 17 Sep 2026, Gurgaon; Jefferies 5th India Forum, in-person conference; one-on-one/group.
• 21 Sep 2026, Mumbai; J.P. Morgan India Conference, in-person conference; one-on-one/group.
• 22 Sep 2026, Mumbai; Anand Rathi Annual Flagship Conference, in-person conference; one-on-one/group.

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.

Senior management changes

• V. Suresh Babu resigns as Head - Operations; last working day Sept 30, 2026; tendered July 31, 2026.
• Sameer Seksaria to Head - Operations; Oct 01, 2026; ex-Director & Head - India Ops at Franklin Templeton.
• Naozad Sirwalla to add Admin; remains CFO; profile: CA, CS; 30+ years; ex-CFO at Lupa Systems Investment Advisors.

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.