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HDFC Asset Management Company Limited Q2 FY26 earnings call summary

NSE: HDFCAMC · BSE: 541729

Earnings call of 15 Oct 2025, summarised by AI from the filing.

HDFC AMC Q2 FY26 revenue grew 16% YOY to ₹10,260 million; board approved 1:1 bonus issue.

Key takeaways

  1. Revenue Revenue from operations ₹10,260 million, a growth of 16% YOY.
  2. Bonus issue Board approved 1:1 bonus share issue, subject to shareholders' approval.
  3. SIP flows SIP contribution reached ₹294 billion in September 2025, with net addition of 6 million SIP accounts in the quarter.
  4. Margin risk TER will structurally trend lower over time, and margin compression from telescopic pricing is inevitable.

Original filing on BSE

HDFC Asset Management Company Limited Q1 FY27 results

As filed: Revenue ₹1,100 cr (+14% year on year), EBITDA ₹850 cr (+10% year on year), PAT ₹837 cr (+12% year on year), EBITDA margin 77.3% (−252 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹1,052 cr (+17% year on year), EBITDA ₹845 cr (+16% year on year), PAT ₹623 cr (−2% year on year), EBITDA margin 80.4% (−76 bps). Score 26 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 76 bps year on year. Profit fell 19% from last quarter. Revenue rose ₹151 cr on a year ago, against ₹206 cr the year before. Share price after the results: +1.5% in 29 days (Nifty 500: −0.3%).
  • Q3 FY26: Revenue ₹1,075 cr (+15% year on year), EBITDA ₹876 cr (+15% year on year), PAT ₹769 cr (+20% year on year), EBITDA margin 81.5% (−19 bps). Score 30 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 19 bps year on year. Revenue rose ₹140 cr on a year ago, against ₹264 cr the year before. Share price after the results: +15.7% in 30 days (Nifty 500: −0.7%).
  • Q2 FY26: Revenue ₹1,027 cr (+16% year on year), EBITDA ₹801 cr (+14% year on year), PAT ₹718 cr (+24% year on year), EBITDA margin 78.0% (−126 bps). Score 30 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend; profit growth was below it. EBITDA margin fell 126 bps year on year. Profit fell 4% from last quarter. Revenue rose ₹140 cr on a year ago, against ₹244 cr the year before. Share price after the results: −3.2% in 30 days (Nifty 500: +2.8%).
  • Q1 FY26: Revenue ₹968 cr (+25% year on year), EBITDA ₹773 cr (+30% year on year), PAT ₹748 cr (+24% year on year), EBITDA margin 79.9% (+321 bps). Score 52 of 100, In line with trend. Revenue, EBITDA and profit growth were below the company's own trend. EBITDA margin rose 321 bps year on year. Revenue rose ₹193 cr on a year ago, against ₹200 cr the year before. Share price after the results: +2.6% in 28 days (Nifty 500: −3.4%).
  • Q4 FY25: Revenue ₹901 cr (+30% year on year), EBITDA ₹731 cr (+36% year on year), PAT ₹638 cr (+18% year on year), EBITDA margin 81.1% (+372 bps). Score 58 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA growth was in line with it; profit growth was well below it. EBITDA margin rose 372 bps year on year. Revenue fell 4% from last quarter. Revenue rose ₹206 cr on a year ago, more than the ₹154 cr it added the year before. Share price after the results: +14.7% in 29 days (Nifty 500: +6.9%).
  • Q3 FY25: Revenue ₹935 cr (+39% year on year), EBITDA ₹764 cr (+50% year on year), PAT ₹641 cr (+31% year on year), EBITDA margin 81.7% (+585 bps). Score 83 of 100, Above trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was below it. EBITDA margin rose 585 bps year on year. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Revenue rose ₹264 cr on a year ago, more than the ₹111 cr it added the year before.
  • Q2 FY25: Revenue ₹887 cr (+38% year on year), EBITDA ₹703 cr (+46% year on year), PAT ₹577 cr (+32% year on year), EBITDA margin 79.3% (+445 bps). Score 85 of 100, Above trend. EBITDA margin rose 445 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 4% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

HDFC Asset Management Company Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.