ICICI Prudential Asset Management Co Ltd
ICICIAMC NSE
ICICI Prudential Asset Management Co Ltd
Financial ServicesNSE: ICICIAMC BSE: 544658 Capital Markets
Incorporated in 1993, ICICI Prudential AMC is an Asset Management Company operating across mutual funds, PMS, AIFs, and offshore advisory services.[1]
AI Verdict: BUY Confidence: 6%
ICICI Prudential AMC is a capital-light, high-ROE business delivering 30% profit CAGR over 3 years with near-zero debt. However, at 51.1x PE and 40.4x PB, the stock prices in significant future growth, warranting a cautious accumulation approach rather than aggressive buying.
Key Fundamentals
LargecapAsset Management CompanyCapital MarketsMarket Cap
1.7L Cr
Volatility
Moderate
P/E Ratio
7.03
EBITDA
₹4,530 Cr
Debt to Equity
0
Book Value
₹84.39
52W High
₹3,611
52W Low
₹2,530
Technical Indicators
Key Insights
Strengths
4- Company is almost debt free.
- Company has delivered good profit growth of 21.5% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 83.0%
- Company has been maintaining a healthy dividend payout of 103%
Weaknesses
1- Stock is trading at 39.8 times its book value
Growth Rate
Revenue Growth
20.51% ↗
Net Income Growth
24.43% ↗
Cash Flow Change
27.51% ↗
ROE
4.91% ↗
ROCE
5.10% ↗
EBITDA Margin (Avg.)
3.35% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 1d agoBUY
Risk medium
ICICI Prudential AMC is a capital-light, high-ROE business delivering 30% profit CAGR over 3 years with near-zero debt. However, at 51.1x PE and 40.4x PB, the stock prices in significant future growth, warranting a cautious accumulation approach rather than aggressive buying.
Bull Case 8
- Exceptional return on equity of 86% in the last year and 83% average over 3 years, reflecting a highly capital-efficient asset-light model
- Strong compounded profit growth of 30% CAGR over 3 years and 22% over 5 years, demonstrating consistent earnings expansion
- Company is virtually debt-free, eliminating balance sheet risk and ensuring full operating leverage flows to shareholders
- Healthy dividend payout of 103% signals management confidence in cash flow sustainability and shareholder-friendly capital allocation
- Revenue growth of 28% CAGR over 3 years and TTM sales growth of 21% indicate continued AUM market share gains in a structurally growing mutual fund industry
- Overwhelming analyst consensus with 82.35% buy ratings (14 out of 17 analysts) reflects broad institutional confidence
- Market cap of Rs 1,69,204 Cr positions it as a large-cap with institutional liquidity, reducing volatility risk for long-term investors
- India's mutual fund penetration at ~15% of GDP vs 60%+ in developed markets provides a multi-decade structural tailwind for AUM growth
Bear Case 8
- Trading at 40.4x book value is extremely expensive even for an asset-light business, leaving minimal margin of safety for new investors
- PE ratio of 51.1x significantly exceeds the broader market average of ~22x, implying the stock must sustain 20%+ earnings growth for years to justify current valuation
- Dividend yield of only 0.8% despite 103% payout ratio means investors are overwhelmingly dependent on capital appreciation for returns
- TTM profit growth deceleration to 24% from 30% 3-year CAGR suggests growth may be normalizing as base effects kick in
- 5.88% of analysts (1 out of 17) recommend selling, and only 11.76% recommend hold, which could indicate consensus crowding risk
- Revenue growth moderation from 28% (3-year CAGR) to 21% (TTM) indicates potential AUM growth slowdown or fee compression pressure
- Regulatory risk from SEBI's ongoing total expense ratio (TER) rationalization could structurally compress margins, with recent cuts reducing AMC yields by 10-15 bps
- High valuation at 51.1x PE makes the stock vulnerable to sharp de-rating in any market correction or equity flow slowdown
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Headwinds 1
- SEBI warning on procedural delay Jun 3
SEBI issued an administrative warning to ICICI Prudential AMC for a procedural delay in investor eligibility verification for an AIF scheme, triggered by an investor complaint.
Neutral 1
- Analyst meetings scheduled Jun 2-3 May 26
ICICI Prudential AMC scheduled investor and analyst meetings on June 2-3, 2026. No unpublished price sensitive information will be shared.
TL;DR: ICICI Prudential AMC faces a minor regulatory concern after SEBI issued an administrative warning over a procedural lapse in AIF investor verification. No material positive catalysts emerged in recent news. The SEBI warning is low-severity but signals the regulator is watching compliance closely. Near-term outlook remains stable absent further regulatory escalation or business developments.
Quarterly Results
| Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales | 1,227 | 1,269 | 1,420 | 1,515 | 1,517 |
| Expenses | 347 | 375 | 372 | 374 | 357 |
| Operating Profit | 880 | 894 | 1,047 | 1,140 | 1,160 |
| OPM % | 72% | 70% | 74% | 75% | 76% |
| Other Income | -25 | 51 | 72 | 109 | -89 |
| Interest | 5 | 5 | 4 | 4 | 5 |
| Depreciation | 21 | 24 | 27 | 26 | 28 |
| PBT | 828 | 917 | 1,089 | 1,219 | 1,039 |
| Tax % | 24% | 25% | 23% | 25% | 26% |
| Net Profit | 632 | 692 | 835 | 917 | 763 |
| EPS in Rs | 358 | 392 | 47.33 | 18.55 | 15.45 |
Profit & Loss
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 2,230 | 2,634 | 2,837 | 3,758 | 4,977 | 5,999 |
| Expenses | 513 | 641 | 766 | 981 | 1,343 | 1,471 |
| Operating Profit | 1,717 | 1,993 | 2,072 | 2,777 | 3,635 | 4,528 |
| OPM % | 77% | 76% | 73% | 74% | 73% | 75% |
| Other Income | 4 | 1 | 1 | 3 | 2 | 2 |
| Interest | 16 | 14 | 15 | 16 | 19 | 18 |
| Depreciation | 47 | 51 | 50 | 66 | 85 | 106 |
| PBT | 1,658 | 1,929 | 2,007 | 2,698 | 3,533 | 4,407 |
| Tax % | 25% | 25% | 24% | 24% | 25% | 25% |
| Net Profit | 1,245 | 1,454 | 1,516 | 2,050 | 2,651 | 3,298 |
| EPS in Rs | 706 | 824 | 859 | 1,161 | 1,502 | 66.73 |
| Div. Payout % | 75% | 84% | 84% | 76% | 81% | 153% |
Balance Sheet
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 18 | 18 | 18 | 49 |
| Reserves | 1,745 | 2,000 | 2,295 | 2,865 | 3,499 | 4,122 |
| Borrowings | 112 | 118 | 116 | 0 | 0 | 0 |
| Other Liabilities | 240 | 310 | 356 | 630 | 810 | 832 |
| Total Liabilities | 2,115 | 2,445 | 2,784 | 3,513 | 4,327 | 5,003 |
| Fixed Assets | 134 | 137 | 150 | 199 | 309 | 634 |
| CWIP | 3 | 4 | 7 | 6 | 289 | 7 |
| Investments | 1,772 | 2,041 | 2,287 | 2,883 | 3,285 | 3,857 |
| Other Assets | 207 | 262 | 340 | 424 | 444 | 505 |
| Total Assets | 2,115 | 2,445 | 2,784 | 3,513 | 4,327 | 5,003 |
Cash Flow
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Operating | 1,195 | 1,333 | 1,400 | 1,765 | 2,574 | 3,282 |
| Investing | -329 | -79 | -129 | -246 | -513 | -469 |
| Financing | -869 | -1,244 | -1,264 | -1,527 | -2,068 | -2,694 |
| Net Cash Flow | -3 | 10 | 6 | -8 | -8 | 119 |
| Free Cash Flow | 1,171 | 1,310 | 1,359 | 1,710 | 2,162 | 3,167 |
| CFO/OP | 90 | 91 | 92 | 85 | 95 | 97 |
Ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 11 | 14 | 14 | 19 | 17 | 11 |
| Cash Conversion Cycle | 11 | 14 | 14 | 19 | 17 | 11 |
| Working Capital Days | -8 | -10 | -9 | -22 | -27 | -26 |
| ROCE % | — | 97% | 89% | 102% | 111% | 115% |
Documents
1
Board Meeting Outcome for Outcome Of The Board Meeting Held On April 27 2026
27 Apr - Board appointed Prashant Kumar as additional independent director for five years from May 1, 2026. 27 Apr - Board appointed Prashant Kumar as additional independent director for five years from May 1, 2026.
2
Announcement under Regulation 30 (LODR)-Change in Directorate
27 Apr - Board appoints Prashant Kumar as independent director from May 1, 2026 for five years, subject to shareholder approval. 27 Apr - Board appoints Prashant Kumar as independent director from May 1, 2026 for five years, subject to shareholder approval.
3
Declaration Of Unmodified Opinion
5 May - Auditor issued unmodified opinion on FY2026 financial results. 5 May - Auditor issued unmodified opinion on FY2026 financial results.
4
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
20 Apr - SEBI issued settlement order on April 16, 2026; ₹14.36 lakh paid for venture fund tenure extension matter. 20 Apr - SEBI issued settlement order on April 16, 2026; ₹14.36 lakh paid for venture fund tenure extension matter.
5
Board Meeting Outcome for Outcome Of The Board Meeting Held On April 27 2026
12h - Board appointed Prashant Kumar as additional independent director for five years from May 1, 2026. 12h - Board appointed Prashant Kumar as additional independent director for five years from May 1, 2026.
Frequently Asked Questions about ICICI Prudential Asset Management Co Ltd
What does ICICI Prudential Asset Management Co Ltd do?
Incorporated in 1993, ICICI Prudential AMC is an Asset Management Company operating across mutual funds, PMS, AIFs, and offshore advisory services.[1]
Where is ICICI Prudential Asset Management Co Ltd (ICICIAMC) listed?
ICICI Prudential Asset Management Co Ltd is listed on the Indian stock exchanges. It is listed on NSE: ICICIAMC and BSE: 544658. You can view its live share price, financials, and ratios on Tapetide.
Which sector does ICICI Prudential Asset Management Co Ltd belong to?
ICICI Prudential Asset Management Co Ltd operates in the Financial Services sector within the Capital Markets industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of ICICI Prudential Asset Management Co Ltd?
ICICI Prudential Asset Management Co Ltd has a market capitalisation of approximately ₹166461.33 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of ICICI Prudential Asset Management Co Ltd?
The Price-to-Earnings (PE) ratio of ICICI Prudential Asset Management Co Ltd is 7.03. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of ICICI Prudential Asset Management Co Ltd?
Over the past 52 weeks, ICICI Prudential Asset Management Co Ltd has traded between a low of ₹2,530 and a high of ₹3,611. This range helps investors understand the stock's price volatility and recent trading levels.
Does ICICI Prudential Asset Management Co Ltd pay dividends?
Yes, ICICI Prudential Asset Management Co Ltd has a dividend yield of 0.81%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
How can I research ICICI Prudential Asset Management Co Ltd on Tapetide?
On Tapetide, you can view ICICI Prudential Asset Management Co Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Incorporated in 1993, ICICI Prudential AMC is an Asset Management Company operating across mutual funds, PMS, AIFs, and offshore advisory services.[1]
Website icicipruamc.com
CEO Mr. Nimesh Vipinbabu Shah
Employees 3,722
Listed 2025-12-19
Face Value ₹ 1
Issued Size 49,42,58,520