HDFC AMC
HDFC AMC
Capital Markets F&OKey Fundamentals
MidcapAMC Mutual FundCapital MarketsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.8%
- Company has been maintaining a healthy dividend payout of 78.6%
Weaknesses
1- Stock is trading at 10.7 times its book value
Growth Rate
AI Analysis — Bull vs Bear
HDFC Asset Management Company has a market capitalisation of about ₹1,01,505 crore. It trades at 34.7 times earnings and 11.09 times book value, with a 2.27% dividend yield. ROE has held between 30% and 33% over 3-, 5- and 10-year periods. Growth has slowed recently: TTM sales growth is 15% versus a 3-year CAGR of 23%, and TTM profit growth is 13% versus 26%. The stock is down 15% over the past year.
- Returns on capital have been high and steady. ROE was 33% last year, 32% over 3 years, 30% over 5 years and 31% over 10 years, which suggests an asset-light model that holds up across market cycles.
- The company is almost debt-free. This keeps financial risk low and means earnings are not burdened by interest costs.
- Shareholder payouts are large. The dividend payout ratio is 78.6% and the dividend yield is 2.27%, both high for a company with a P/E of 34.7.
- Profit growth over the medium term has been strong. Profit grew at a 26% CAGR over 3 years, faster than the 23% sales CAGR, which points to operating leverage as assets under management grow.
- Profit has compounded at 20% a year over 10 years, against a 12% sales CAGR. That shows sustained margin expansion over a full decade.
- The stock has de-rated relative to earnings. Share-price CAGR over 5 years is 8%, while profit CAGR over the same period is 17%, so the valuation multiple has compressed.
- Growth is still double-digit despite slowing. TTM sales grew 15% and TTM profit 13%, helped by the structural shift of Indian household savings into financial assets and mutual funds.
- The price-to-book ratio is 11.09 times. That leaves little room for error if ROE falls from its current 33% level.
- Growth is slowing. TTM profit growth of 13% is half the 3-year CAGR of 26%, and TTM sales growth of 15% is below the 3-year CAGR of 23%.
- The P/E of 34.7 against 13% TTM profit growth gives a PEG ratio of about 2.7. The earnings yield is about 2.9%, only modestly above the 2.27% dividend yield.
- The stock fell 15% over the past year, showing that returns are sensitive to changes in sentiment and valuation even while the business keeps growing.
- Revenue depends on the value of assets under management, which rises and falls with equity markets. A market downturn would squeeze both fees and fund inflows, and the 12% 10-year sales CAGR is well below recent peaks, showing how cyclical growth can be.
- Regulation is a risk. Changes to SEBI's expense-ratio limits, plus fee pressure from passive and low-cost funds, could erode the margin expansion that pushed 10-year profit CAGR (20%) above sales CAGR (12%).
- With a 78.6% payout ratio, most profit goes out as dividends. That limits the capital kept for growth and means per-share growth depends mainly on organic growth in assets under management.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Monthly SIP count hits record Sep 10
HDFC AMC reported that India's monthly SIP count has reached an all-time high, showing growing retail participation in mutual funds. Sticky, recurring SIP flows support AUM growth for large AMCs like HDFC AMC, though the article gives no exact figure.
- Q2FY27 analyst call on Oct 15 Oct 1
HDFC AMC will host an analyst call on October 15, 2026, at 5:30 pm IST to discuss unaudited Q2FY27 and H1FY27 results for the period ended September 30, 2026. MD Navneet Munot, CFO Naorozad Sirwalla and CIO Simal Kanuga will take part.
TL;DR: The news flow is limited but mildly constructive. The record monthly SIP count points to strong structural retail inflows, which help a market leader like HDFC AMC grow AUM and fee income. These articles mention no specific company risks, though AMC earnings stay sensitive to equity market swings and pressure on regulatory fees. The Q2FY27 results and analyst call on October 15, 2026, are the next catalyst to watch for AUM growth, yield trends and margin direction.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 575 | 643 | 671 | 695 | 775 | 887 | 934 | 901 | 968 | 1,026 | 1,074 | 1,050 | 1,098 |
| Expenses | 146 | 161 | 160 | 156 | 180 | 183 | 170 | 170 | 194 | 225 | 197 | 205 | 247 |
| Operating Profit | 429 | 482 | 511 | 539 | 595 | 704 | 764 | 731 | 774 | 801 | 877 | 846 | 852 |
| OPM % | 75% | 75% | 76% | 78% | 77% | 79% | 82% | 81% | 80% | 78% | 82% | 81% | 78% |
| Other Income | 158 | 122 | 142 | 155 | 173 | 171 | 93 | 124 | 233 | 96 | 159 | 11 | 263 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 4 |
| Depreciation | 13 | 13 | 13 | 13 | 13 | 14 | 15 | 17 | 17 | 18 | 18 | 19 | 20 |
| PBT | 571 | 589 | 639 | 679 | 752 | 859 | 840 | 835 | 986 | 876 | 1,015 | 834 | 1,090 |
| Tax % | 16% | 26% | 23% | 20% | 20% | 33% | 24% | 24% | 24% | 18% | 24% | 25% | 23% |
| Net Profit | 478 | 438 | 490 | 541 | 604 | 577 | 641 | 639 | 748 | 718 | 770 | 623 | 838 |
| EPS in Rs | 11.19 | 10.25 | 11.47 | 12.67 | 14.14 | 13.5 | 15 | 14.94 | 17.48 | 16.78 | 17.98 | 14.55 | 19.56 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,056 | 1,490 | 1,568 | 1,870 | 2,075 | 2,124 | 2,194 | 2,429 | 2,478 | 3,159 | 4,050 | 4,611 | 4,249 |
| Expenses | 432 | 775 | 776 | 802 | 709 | 431 | 388 | 515 | 549 | 623 | 704 | 821 | 874 |
| Operating Profit | 624 | 715 | 792 | 1,068 | 1,366 | 1,693 | 1,806 | 1,913 | 1,929 | 2,536 | 3,346 | 3,790 | 3,375 |
| OPM % | 59% | 48% | 51% | 57% | 66% | 80% | 82% | 79% | 78% | 80% | 83% | 82% | 79% |
| Other Income | 9 | 4 | 20 | 0 | 22 | 19 | 8 | 4 | 4 | 4 | 9 | 6 | 529 |
| Interest | 0 | 0 | 0 | 0 | 0 | 9 | 9 | 9 | 10 | 9 | 9 | 13 | 14 |
| Depreciation | 10 | 11 | 12 | 9 | 13 | 50 | 55 | 54 | 53 | 52 | 58 | 73 | 76 |
| PBT | 623 | 708 | 800 | 1,058 | 1,375 | 1,653 | 1,749 | 1,855 | 1,871 | 2,478 | 3,286 | 3,710 | 3,814 |
| Tax % | 33% | 33% | 31% | 33% | 32% | 24% | 24% | 25% | 24% | 21% | 25% | 23% | — |
| Net Profit | 416 | 478 | 550 | 711 | 931 | 1,262 | 1,326 | 1,393 | 1,424 | 1,946 | 2,461 | 2,859 | 2,950 |
| EPS in Rs | 82.28 | 95.01 | 109 | 16.89 | 21.89 | 29.66 | 31.13 | 32.66 | 33.36 | 45.57 | 57.55 | 66.75 | 68.87 |
| Div. Payout % | 39% | 42% | 42% | 47% | 55% | 47% | 55% | 64% | 72% | 77% | 78% | 81% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 25 | 105 | 106 | 106 | 106 | 107 | 107 | 107 | 107 | 214 |
| Reserves | 1,095 | 1,126 | 1,398 | 2,149 | 2,964 | 3,923 | 4,670 | 5,423 | 6,002 | 6,972 | 8,027 | 9,017 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 192 | 272 | 177 | 218 | 153 | 279 | 319 | 350 | 428 | 478 | 619 | 757 |
| Total Liabilities | 1,312 | 1,423 | 1,600 | 2,472 | 3,224 | 4,309 | 5,095 | 5,880 | 6,537 | 7,558 | 8,754 | 9,988 |
| Fixed Assets | 34 | 31 | 31 | 31 | 40 | 157 | 153 | 135 | 150 | 151 | 197 | 268 |
| CWIP | 0 | 1 | 2 | 6 | 3 | 5 | 1 | 0 | 2 | 1 | 0 | 2 |
| Investments | 651 | 986 | 1,237 | 2,058 | 2,935 | 3,945 | 4,753 | 5,570 | 6,079 | 7,190 | 8,289 | 9,396 |
| Other Assets | 627 | 405 | 329 | 378 | 246 | 203 | 187 | 175 | 305 | 215 | 267 | 322 |
| Total Assets | 1,312 | 1,423 | 1,600 | 2,472 | 3,224 | 4,309 | 5,095 | 5,880 | 6,537 | 7,558 | 8,754 | 9,988 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | 742 | 455 | 618 | 894 | 1,285 | 1,085 | 1,254 | 1,149 | 1,620 | 2,077 | 2,530 |
| Investing | — | -297 | -176 | -633 | -777 | -928 | -483 | -508 | -218 | -547 | -600 | -645 |
| Financing | — | -447 | -279 | 15 | -119 | -332 | -628 | -746 | -930 | -1,066 | -1,475 | -1,886 |
| Net Cash Flow | — | -2 | 0 | 1 | -1 | 26 | -25 | 0 | 1 | 7 | 1 | -1 |
| Free Cash Flow | — | 733 | 441 | 601 | 877 | 1,255 | 1,074 | 1,244 | 1,135 | 1,602 | 2,032 | 2,508 |
| CFO/OP | — | 137 | 90 | 89 | 98 | 100 | 80 | 87 | 81 | 85 | 84 | 88 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 6 | 9 | 20 | 18 | 15 | 10 | 13 | 11 | 27 | 11 | 12 | 13 |
| Cash Conversion Cycle | 6 | 9 | 20 | 18 | 15 | 10 | 13 | 11 | 27 | 11 | 12 | 13 |
| Working Capital Days | 90 | 9 | 17 | -11 | 11 | -22 | -17 | -16 | -4 | -18 | -14 | -16 |
| ROCE % | 62% | 62% | 62% | 58% | 52% | 47% | 40% | 36% | 32% | 38% | 43% | 43% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view HDFC AMC insights
56 extracted metrics + investor summaries across FY00–FY27.
Documents
Frequently Asked Questions about HDFC AMC
What does HDFC Asset Management Company Ltd do?
Where is HDFC Asset Management Company Ltd (HDFCAMC) listed?
Which sector does HDFC Asset Management Company Ltd belong to?
What is the market capitalisation of HDFC Asset Management Company Ltd?
What is the PE ratio of HDFC Asset Management Company Ltd?
What is the 52-week high and low of HDFC Asset Management Company Ltd?
Does HDFC Asset Management Company Ltd pay dividends?
What is the Return on Equity (ROE) of HDFC Asset Management Company Ltd?
Company Information
Incorporated in 1999, HDFC Asset Management Company Ltd provides Fund Management Services[1]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/HDFCAMC.md for HDFC Asset Management Company Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live,
structured queries instead of documents, use our MCP server.