HDFC AMC logo

HDFC AMC

HDFCAMC NSE

Key Fundamentals

MidcapAMC Mutual FundCapital Markets
Market Cap
1.0L Cr
Volatility
Moderate
P/E Ratio
34.9
EBITDA
₹3,795 Cr
Return on Equity
30.97%
Debt to Equity
0
Book Value
₹215.22
EPS
₹96.87
52W High
₹2,967.25
52W Low
₹2,205.6

Tapetide 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 11.2 times its book value

Growth Rate

Revenue Growth
13.84% lower than 3Y
Net Income Growth
16.17% lower than 3Y
Cash Flow Change
21.83% lower than 3Y
ROE
2.35% lower than 3Y
ROCE
-0.63% lower than 3Y
EBITDA Margin (Avg.)
-0.59% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

HDFC Asset Management Company, with a market cap of ₹1,02,478 Cr, is a dominant player in India's capital markets sector. It trades at a PE of 35.5x and 11.3x book value, delivers a consistent ROE of ~33% (last year), and has compounded profits at 17% CAGR over 5 years while maintaining a 78.6% dividend payout ratio.

Bull Case 7
  • Virtually debt-free balance sheet provides financial resilience and flexibility for growth investments without leverage risk.
  • Exceptional return on equity consistency — 33% last year, 32% over 3 years, 30% over 5 years, and 31% over 10 years — indicating durable capital efficiency across market cycles.
  • Compounded profit growth of 26% over 3 years and 17% over 5 years reflects strong operating leverage in the asset management business.
  • Healthy dividend payout of 78.6% with a current yield of 2.22%, offering meaningful income returns for a growth business.
  • TTM sales growth of 15% and 3-year compounded sales CAGR of 23% demonstrate accelerating AUM-driven revenue expansion.
  • 10-year compounded profit growth of 20% underscores a long track record of sustained earnings compounding well above nominal GDP growth.
  • Asset-light business model inherent to fund management requires minimal capex, supporting high free cash flow conversion alongside the zero-debt structure.
Bear Case 7
  • Stock trades at 11.3x price-to-book, a steep premium that leaves limited margin of safety if growth slows even modestly.
  • PE ratio of 35.5x is elevated relative to earnings growth — TTM profit growth has decelerated to 13% from the 3-year CAGR of 26%, implying compression risk.
  • 1-year stock CAGR of -16% indicates the market has already been repricing the stock downward, suggesting near-term sentiment headwinds.
  • 5-year stock CAGR of just 8% has significantly lagged profit CAGR of 17% over the same period, pointing to sustained valuation de-rating.
  • Revenue growth is cyclically tied to equity market performance — any prolonged market downturn would compress AUM and management fee income simultaneously.
  • TTM profit growth of 13% trails TTM revenue growth of 15%, hinting at slight margin pressure or rising cost ratios.
  • Intensifying competition from passive funds, direct plans, and new-age AMCs could pressure HDFC AMC's market share and fee yields over time.

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

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 1
  • Record SIP count milestone Sep 10

    India's monthly SIP count hit an all-time high per HDFC AMC, reflecting growing retail investor participation and deepening financial inclusion in mutual funds.

Neutral 1
  • Sept investor meetings scheduled Sep 1

    HDFC AMC announced investor and analyst meetings for September 2026, including group sessions and one-on-one conferences in Mumbai and Gurgaon.

TL;DR: HDFC AMC benefits from a structural tailwind as India's monthly SIP count reaches an all-time high, signaling sustained retail inflows into the mutual fund industry. No specific headwinds emerged in recent news. The company is maintaining regular investor engagement through scheduled meetings. The trend of rising SIP adoption remains a positive secular driver for the asset management business.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

Beta

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

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Shareholding Pattern

Others1.46%Promot.52.34%Public7.34%DIIs14.76%FIIs24.10%As ofJun 2026

Documents

Frequently Asked Questions about HDFC AMC

What does HDFC Asset Management Company Ltd do?
Incorporated in 1999, HDFC Asset Management Company Ltd provides Fund Management Services[1]
Where is HDFC Asset Management Company Ltd (HDFCAMC) listed?
HDFC Asset Management Company Ltd trades as HDFCAMC on the NSE and under code 541729 on the BSE.
Which sector does HDFC Asset Management Company Ltd belong to?
HDFC Asset Management Company Ltd is classified under the Capital Markets sector, in the AMC Mutual Fund industry.
What is the market capitalisation of HDFC Asset Management Company Ltd?
HDFC Asset Management Company Ltd has a market capitalisation of ₹1,02,478 Cr, which places it in the Large Cap band.
What is the PE ratio of HDFC Asset Management Company Ltd?
HDFC Asset Management Company Ltd trades at a PE ratio of 34.90, on earnings per share of ₹96.87, against a book value of ₹215.22 per share.
What is the 52-week high and low of HDFC Asset Management Company Ltd?
Over the last 52 weeks HDFC Asset Management Company Ltd has traded between ₹2,205.6 and ₹2,967.25.
Does HDFC Asset Management Company Ltd pay dividends?
HDFC Asset Management Company Ltd has a dividend yield of 2.22%.
What is the Return on Equity (ROE) of HDFC Asset Management Company Ltd?
HDFC Asset Management Company Ltd reported a return on equity of 30.97%. Its debt-to-equity ratio is 0.00.

Company Information

Incorporated in 1999, HDFC Asset Management Company Ltd provides Fund Management Services[1]

Website hdfcfund.com
CEO Mr. Navneet Munot CFA
Employees 1,618
Listed 2018-08-06
Face Value ₹ 5
Issued Size 42,81,57,997

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