CAMS logo

CAMS

CAMS NSE

Key Fundamentals

SmallcapRTACapital Markets
Market Cap
₹16,654 Cr
Volatility
Moderate
P/E Ratio
36.99
EBITDA
₹735 Cr
Return on Equity
35.74%
Debt to Equity
0.04
Book Value
₹53.18
EPS
₹78.32
52W High
₹844.9
52W Low
₹611.4

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has a good return on equity (ROE) track record: 3 Years ROE 39.8%
  • Company has been maintaining a healthy dividend payout of 73.3%

Weaknesses

1
  • Stock is trading at 13.9 times its book value

Growth Rate

Revenue Growth
6.26% lower than 3Y
Net Income Growth
1.57% lower than 3Y
Cash Flow Change
22.38% lower than 3Y
ROE
-13.94% lower than 3Y
ROCE
-10.7% lower than 3Y
EBITDA Margin (Avg.)
-1.84% lower than 3Y

AI Analysis — Bull vs Bear

5d ago
AI opinion · based on fundamentals
Risk medium

Computer Age Management Services (CAMS) is a Capital Markets company with a market capitalisation of about ₹17,582 crore. It trades at 35.9x earnings and 13.36x book value, has a long record of high returns on equity (40% over 3, 5 and 10 years, 37% last year), carries almost no debt and pays out 73.3% of profits as dividends. Growth has slowed recently: trailing twelve months (TTM) sales grew 5% and profit grew 2%, against 3-year compounded rates of 15% and 16%, and the stock is down 7% over the past year.

Bull Case 6
  • Return on equity has stayed high and steady: 40% over 3 years, 41% over 5 years, 40% over 10 years and 37% last year. That points to a capital-light business with lasting pricing power.
  • The company is almost debt-free and has reduced its debt. Its high returns come from operations, not borrowing, and the balance sheet carries little financial risk.
  • The company pays out 73.3% of profits as dividends. It can return most of its earnings and still fund growth, which suggests it needs little reinvestment.
  • Profit has compounded at 18% a year over 10 years, ahead of 12% sales growth over the same period. That points to operating leverage and margins widening over time.
  • Medium-term growth has been solid: sales compounded 15% a year over 3 years and 16% over 5 years, with profit at 16% and 15% respectively.
  • At 35.9x earnings, the stock trades at a lower multiple than its 10-year profit growth (18%) and 40% ROE might suggest for a high-quality compounder. Part of the 7% fall over the past year may already reflect the recent slowdown.
Bear Case 7
  • Growth has slowed sharply: TTM sales growth of 5% and profit growth of 2% are well below the 3-year compounded rates of 15% and 16%.
  • The price-to-book ratio of 13.36 (14.5x in another data source) is high in absolute terms. If returns or growth slip, the stock has little valuation cushion.
  • A P/E of 35.9 against 2% TTM profit growth means the price assumes growth will pick up again. If the slowdown lasts, the multiple could shrink.
  • Shareholder returns have been weak: the stock has compounded at 2% a year over 5 years and fallen 7% over 1 year, despite 15% profit growth over 5 years. Past valuation compression has eaten into returns.
  • Last year's ROE of 37% is below the 5-year average of 41%, a small dip in returns on capital that coincides with the growth slowdown.
  • The reported dividend yield is only 0.35%. That looks inconsistent with a 73.3% payout at 35.9x earnings, which would imply roughly 2%, so the underlying data should be checked. On the reported figure, the yield offers little income support.
  • Revenue depends on a single industry, Indian mutual fund activity. Market downturns or regulatory pressure on fund costs could weigh on growth, which has already slowed to 5% TTM.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

20h ago
Headwinds 5
  • Fidelity sharply exits CAMS stake Sep 15

    Fidelity International sold nearly 12 million shares between March and September 2026, cutting its holding from 5.94% to 1.10%. Earlier Fidelity fund sales covered a 2.69% stake worth ₹456.64 crore.

  • White Oak trims to 3.29% Sep 25

    White Oak Capital sold 4.82 million shares on September 23, 2026, reducing its stake from 5.288% to 3.290% via open market transactions. Coming soon after Fidelity's exit, this is a second large institutional seller.

  • Revenue growth lags KFin Sep 18

    CAMS consolidated revenue grew 11.6% YoY to ₹395 crore, while KFin Technologies grew 29.9% to ₹356.5 crore. Standalone net sales rose only 5.58% YoY to ₹353.05 crore.

  • Stock well off highs Sep 10

    Shares closed at ₹712, down 0.42%, after touching an intraday low of ₹681. That is about 16% below the 52-week high of ₹844.8 set in May 2026.

  • Chief Platform Officer resigns Sep 18

    CPO Ravi Kethana resigned after six years, effective December 10, 2026. This is a key tech leadership gap at a platform-driven business.

Positives 7
  • Dominant 67% RTA market share Sep 18

    CAMS holds a 67.2% share of mutual fund RTA and a 63.9% share of SIPs, with 6.72 crore SIP accounts, up 18.8% YoY. Serviced MF AAUM rose 14.8% YoY to a record ₹56 lakh crore.

  • Profit up 17.6%, RoE 36.3% Sep 18

    Net profit rose 17.6% YoY to ₹127 crore, while KFin's net profit fell 2.5% to ₹75.2 crore. CAMS RoE was 36.3% against KFin's 21.6%.

  • Cheaper than KFin by 19% Sep 18

    CAMS trades at a consolidated P/E of 35.8 against KFin's 44.2, a 19% discount despite higher profitability and market share.

  • Non-MF revenue up 28.4% Sep 18

    Non-MF revenue grew 28.4% YoY to 14.9% of total revenue. Alternatives AUM crossed ₹3.2 lakh crore with 50 new mandates, and CAMSPay added 17 new clients.

  • Geojit Buy, target ₹910 Sep 10

    Geojit Financial Services issued a buy call with a ₹910 target, about 28% upside from the ₹712 close.

  • Strong transaction and equity flows Sep 18

    MF transactions rose 19.7% YoY to 29.2 crore. Equity net sales jumped 43% to ₹86,026 crore, ahead of industry growth of 39%.

  • 'Leader' ESG rating from Niche99 Sep 22

    Niche99 gave CAMS an ESG score of 79 for FY26, in the 'Leader' category, based on public disclosures and governance practices.

Neutral 2
  • Q2 FY27 earnings call Oct 30 Sep 29

    CAMS will host its Q2 and H1 FY27 earnings call on October 30, 2026, at 11:00 am IST, with the MD and CFO attending.

  • Heavy investor outreach schedule Sep 24

    Meetings included Millennium Partners (Sep 21), the Anand Rathi conference (Sep 22), family offices (Sep 28), and Select Equity, ICICI Securities and Lyptus Capital (Sep 29). The Sep 21 meeting used the August 3 investor presentation.

TL;DR: CAMS is still the clear industry leader with a 67% RTA share, record ₹56 lakh crore AAUM, 17.6% profit growth, a 36.3% RoE, and fast-growing non-MF businesses. Two major institutions are selling, though: Fidelity cut from 5.94% to 1.10% and White Oak from 5.29% to 3.29%. Combined with revenue growth well behind KFin's (11.6% vs 29.9%) and a CPO exit, this keeps the stock about 16% below its 52-week high. The 19% valuation discount to KFin and Geojit's ₹910 target leave room for a re-rating, so watch for the selling to ease and for faster revenue growth in the Q2 FY27 results on October 30.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
244
255
269
287
308
342
348
336
334
354
367
357
353
Expenses
138
138
146
152
166
181
184
185
185
193
194
206
182
Operating Profit
106
117
123
135
142
160
163
152
149
161
173
151
171
OPM %
43%
46%
46%
47%
46%
47%
47%
45%
45%
46%
47%
42%
49%
Other Income
8
8
8
9
9
10
12
10
11
10
11
11
15
Interest
2
2
2
2
2
2
2
2
2
2
1
1
1
Depreciation
14
14
15
15
14
15
16
20
18
22
22
25
22
PBT
98
109
114
127
135
153
157
141
140
148
160
136
163
Tax %
25%
25%
25%
24%
25%
25%
25%
25%
25%
25%
24%
27%
25%
Net Profit
73
81
86
97
102
115
118
106
105
111
122
99
122
EPS in Rs
2.99
3.31
3.48
3.95
4.14
4.68
4.77
4.29
4.25
4.48
4.93
3.99
4.91
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
372
442
464
606
651
661
674
864
929
1,054
1,334
1,412
1,431
Expenses
245
300
289
402
459
402
405
474
523
573
717
778
774
Operating Profit
127
142
175
204
192
260
269
390
405
481
617
634
657
OPM %
34%
32%
38%
34%
30%
39%
40%
45%
44%
46%
46%
45%
46%
Other Income
0
1
9
50
11
19
58
40
21
32
41
42
46
Interest
0
1
0
0
0
8
7
7
7
7
7
6
6
Depreciation
23
17
16
21
27
46
39
47
54
58
65
87
90
PBT
104
125
168
233
176
225
280
376
366
448
586
584
607
Tax %
33%
35%
36%
31%
36%
27%
22%
23%
25%
25%
25%
25%
—
Net Profit
70
81
108
160
112
164
219
289
275
337
441
437
454
EPS in Rs
2.86
3.34
4.41
6.56
4.6
6.73
8.97
11.84
11.21
13.72
17.85
17.63
18.31
Div. Payout %
62%
65%
56%
68%
118%
36%
140%
65%
67%
68%
81%
71%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
49
49
49
49
49
49
49
49
49
49
49
50
Reserves
232
250
313
364
343
440
421
556
679
835
986
1,159
Borrowings
0
0
0
0
0
0
73
73
76
82
73
54
Other Liabilities
79
94
91
128
170
226
235
217
207
334
348
283
Total Liabilities
360
393
453
540
563
715
778
894
1,010
1,300
1,457
1,546
Fixed Assets
63
56
62
80
87
158
144
169
165
163
194
204
CWIP
0
0
0
0
0
0
0
0
8
10
44
89
Investments
232
275
306
332
323
397
362
455
479
598
578
571
Other Assets
65
62
85
129
153
161
272
270
358
529
641
682
Total Assets
360
393
453
540
563
715
778
894
1,010
1,300
1,457
1,546
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
84
102
188
144
180
239
306
317
388
442
578
Investing
—
-47
-30
-74
-15
-72
23
-117
-105
-181
-102
-271
Financing
—
-41
-72
-109
-132
-91
-268
-200
-201
-219
-334
-310
Net Cash Flow
—
-4
0
5
-3
17
-6
-11
11
-12
7
-3
Free Cash Flow
—
75
80
188
110
166
213
246
281
357
328
447
CFO/OP
—
92
58
129
109
97
111
103
99
98
93
115
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
1
6
7
9
10
14
13
9
10
17
28
10
Cash Conversion Cycle
1
6
7
9
10
14
13
9
10
17
28
10
Working Capital Days
-3
-18
9
6
-5
6
-30
-12
26
17
25
9
ROCE %
38%
43%
51%
59%
41%
51%
53%
61%
48%
50%
55%
48%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Govt.0.01%FIIs44.88%Others7.97%DIIs23.54%Public23.59%As ofJun 2026

Documents

Frequently Asked Questions about CAMS

What does Computer Age Management Services Ltd do?
The company is a mutual funds transfer agency. It provides investor services, distributor services and asset management companies (AMC) services.
Where is Computer Age Management Services Ltd (CAMS) listed?
Computer Age Management Services Ltd trades as CAMS on the NSE and under code 543232 on the BSE.
Which sector does Computer Age Management Services Ltd belong to?
Computer Age Management Services Ltd is classified under the Capital Markets sector, in the RTA industry.
What is the market capitalisation of Computer Age Management Services Ltd?
Computer Age Management Services Ltd has a market capitalisation of ₹16,654 Cr, which places it in the Mid Cap band.
What is the PE ratio of Computer Age Management Services Ltd?
Computer Age Management Services Ltd trades at a PE ratio of 36.99, on earnings per share of ₹78.32, against a book value of ₹53.18 per share.
What is the 52-week high and low of Computer Age Management Services Ltd?
Over the last 52 weeks Computer Age Management Services Ltd has traded between ₹611.4 and ₹844.9.
Does Computer Age Management Services Ltd pay dividends?
Computer Age Management Services Ltd has a dividend yield of 0.37%.
What is the Return on Equity (ROE) of Computer Age Management Services Ltd?
Computer Age Management Services Ltd reported a return on equity of 35.74%. Its debt-to-equity ratio is 0.04.

Company Information

The company is a mutual funds transfer agency. It provides investor services, distributor services and asset management companies (AMC) services.

Website camsonline.com
CEO Mr. Anuj Kumar
Employees 7,932
Listed 2021-05-07
Face Value ₹ 2
Issued Size 24,76,50,635

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