HDFC Asset Management Company Limited (HDFCAMC)
₹2,398.60 -0.68% last close, 16 Oct
Q2 FY27 results
HDFC Asset Management Company Limited reported Q2 FY27 results on 15 Oct 2026: net interest income ₹1,166 Cr, and net profit ₹749 Cr.
| Q2 FY27 (₹ Cr) | Value | YoY | QoQ |
|---|---|---|---|
| Net interest income | ₹1,166 | — | +6.4% |
| Operating profit | ₹977 | — | -10.3% |
| Net profit | ₹749 | — | -10.6% |
| EPS (₹) | 17.46 | — | -10.6% |
Share price since the results: +4.4% (close before the filing to the latest close).
HDFCAMC delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 52.61% of the HDFCAMC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 59.93%. That is lower than usual for this stock. In HDFCAMC futures, open interest fell 1.19% while the futures price fell 0.22%: long unwinding (longs closing out).
Delivery in the last 5 sessions: 63.3% · 52.0% · 59.0% · 43.9% · 52.6%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
HDFC Asset Management Company reported its Q2 FY27 results, posting a revenue from operations of ₹1,168.9 crore (up 14% YoY) and net profit (PAT) of ₹749.9 crore (up 4.5% YoY from ₹717.9 crore). Total QAAUM grew 10% YoY to ₹9,691 billion, maintaining an overall mutual fund market share of 11.1%. Actively managed equity QAAUM expanded 14% YoY to ₹6,085 billion with a 12.7% market share, while individual investor contribution stood strong at 70% of total MAAUM. For H1 FY27, PAT reached ₹1,588.2 crore compared to ₹1,465.9 crore in H1 FY26.
- Q2 FY27 PAT grew 4.5% YoY to ₹7,499 million from ₹7,179 million
- Operating profit rose 16% YoY to ₹9,069 million with operating margin at 36 bps
- Total QAAUM reached ₹9,691 billion, up 10% YoY, representing an 11.1% industry market share
- Actively managed equity QAAUM increased 14% YoY to ₹6,085 billion (12.7% market share)
- Processed 18.9 million systematic transactions totaling ₹48.0 billion in September 2026
HDFC Asset Management Company Limited has announced the approval of its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The board meeting commenced at 1:00 pm and concluded at 2:30 pm on October 15, 2026. The limited review was conducted by statutory auditors pursuant to SEBI regulations. In accordance with insider trading regulations, the trading window for designated persons remains closed through October 17, 2026.
- Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026
- Meeting duration was 1.5 hours, starting at 01:00 pm and concluding at 02:30 pm on October 15, 2026
- Trading window for designated persons and relatives remains closed until October 17, 2026
HDFC Asset Management Company has disclosed receipt of an ESG rating of 78.72 assigned by Niche Ninety Nine Capability and Certifications (OPC) Private Limited. The company clarified that this is an unsolicited rating prepared independently using publicly available data, with no formal engagement from HDFC AMC. There is no direct financial or operational impact on the company's asset management business.
- Assigned an ESG rating of 78.72 by Niche Ninety Nine Capability and Certifications (OPC) Private Limited
- Filing confirms HDFC AMC did not engage or commission the rating agency
- Assessment was conducted independently based solely on public domain information
- Disclosure made pursuant to Regulation 30 of SEBI Listing Regulations on September 18, 2026
HDFC Asset Management Company Limited has disclosed the schedule for five upcoming institutional investor and analyst interactions in September 2026. The schedule begins with a sell-side analyst group meeting in Mumbai on September 8, 2026. The company will subsequently participate in four investor conferences organized by UBS, Jefferies, J.P. Morgan, and Anand Rathi between September 10 and September 22, 2026, in Mumbai and Gurgaon. These meetings represent standard investor relations engagement under SEBI Listing Regulations.
- 5 investor and analyst interaction events scheduled between September 8, 2026, and September 22, 2026
- Sell-side analyst group meeting scheduled for September 8, 2026, in Mumbai
- Participation in UBS India Summit (September 10) and Jefferies 5th India Forum (September 17)
- Participation in J.P. Morgan India Conference (September 21) and Anand Rathi Flagship Conference (September 22)
HDFC Asset Management Company Limited has allotted 23,752 equity shares of face value Rs 5 each pursuant to the exercise of employee stock options on August 20, 2026. This comprises 21,962 shares under ESOP Scheme 2020 and 1,790 shares under ESOP & PSU Scheme 2025. Following this allotment, the company's paid-up equity share capital increases to Rs 214.41 crore, comprising 42,88,10,534 equity shares. The equity dilution from this allotment is less than 0.01%, representing an immaterial impact on earnings per share.
- Allotted 23,752 equity shares of face value Rs 5 each on August 20, 2026
- Includes 21,962 shares under ESOP Scheme 2020 and 1,790 shares under ESOP & PSU Scheme 2025
- Total paid-up share capital expanded to Rs 2,14,40,52,670 divided into 42,88,10,534 equity shares
- Dilution represents less than 0.006% of total outstanding equity
HDFC Asset Management Company Limited has submitted a regulatory disclosure regarding its upcoming investor interactions. Company representatives are scheduled to participate in the 'Ashwamedh - Elara India Dialogue 2026' conference in Mumbai on September 1, 2026. The interactions will take place in-person through one-on-one and group meetings. No unpublished price-sensitive information is expected to be shared.
- Conference scheduled for September 1, 2026 in Mumbai
- Event name: Ashwamedh - Elara India Dialogue 2026
- Meeting format: In-person, one-on-one / group sessions
- Intimation filed with exchanges under Regulation 30 on August 18, 2026
HDFC Asset Management Company Limited (HDFCAMC) has been assigned an ESG rating of 74 by NSE Sustainability Ratings and Analytics Limited. The rating was communicated on August 10, 2026, and was prepared independently using public domain information without the company's formal engagement. This disclosure is a routine regulatory filing under SEBI's Regulation 30. While ESG scores are relevant for institutional mandates, this specific rating does not alter the company's strong financial fundamentals, including its 81.4% operating margin.
- ESG rating of 74 assigned by NSE Sustainability Ratings and Analytics Limited
- Rating notification received via email on August 10, 2026
- Rating was independently prepared based on public domain information
- Company did not engage the rating agency for this specific report
Mr. V. Suresh Babu, Head of Operations and a veteran associated with HDFCAMC since its inception 26 years ago, has opted for early retirement effective September 30, 2026. His responsibilities will be reallocated to existing Senior Management Personnel (SMP) starting October 1, 2026. Mr. Sameer Seksaria (Head - Client Services) will take over Operations and IT, while Mr. Naozad Sirwalla (CFO) will assume the Administration function. This internal transition leverages leaders with 28-30 years of industry experience to manage the company's operations, which service 26 million live accounts.
- Mr. V. Suresh Babu resigned on July 31, 2026, after 26 years of service since the company's inception stage.
- The last working day for the outgoing Head of Operations is set for September 30, 2026.
- Mr. Sameer Seksaria, with 28 years of experience, will be re-designated as Head - Operations effective October 1, 2026.
- Mr. Naozad Sirwalla, the current CFO with 30 years of experience, will add the Administration portfolio to his existing duties.
- The company manages a massive AUM of ₹8.73 trillion as of September 30, 2025, requiring high operational stability.
HDFC Asset Management Company (HDFCAMC) has disclosed its schedule for institutional investor meetings in August 2026. The company will participate in the Emkay Confluence on August 12 and the Motilal Oswal 22nd Annual Global Investor Conference on August 17-18, both in Mumbai. These interactions will include one-on-one and group meetings. As of September 2025, the company manages a closing AUM of ₹8.73 trillion and maintains a high operating profit margin of 81.4%.
- Participation in Emkay Confluence 2026 scheduled for August 12, 2026
- Attendance at Motilal Oswal 22nd Annual Global Investor Conference on August 17-18, 2026
- Company manages a closing AUM of ₹8.73 trillion as of September 30, 2025
- Unique investor base stands at 14.5 million with 103,000+ distributors
- Revenue margins maintained at 58 basis points despite market competition
HDFC Asset Management Company (HDFCAMC) has allotted 133,528 equity shares of Rs 5 each following the exercise of stock options by eligible employees. The allotment includes 129,446 shares under the 2020 scheme and 4,082 shares under the 2025 ESOP & PSU scheme. This results in a marginal increase in the total paid-up share capital to Rs 214.39 crore. The dilution to existing shareholders is negligible at approximately 0.03% of the total equity base.
- Total allotment of 133,528 equity shares of face value Rs 5 each approved on July 20, 2026
- 129,446 shares issued specifically under the Employee Stock Option Scheme – 2020
- 4,082 shares issued under the newer ESOP & PSU Scheme – 2025
- Post-allotment paid-up share capital increased to Rs 2,14,39,33,910 consisting of 42,87,86,782 shares
HDFC AMC reported a steady Q1 FY27 with Profit After Tax (PAT) rising 12% YoY to ₹8.4 billion and revenue from operations growing 14% to ₹11 billion. Quarterly Average AUM (QAAUM) reached ₹9.35 trillion, with actively managed equity assets growing 16% YoY to ₹5.74 trillion. The company's equity mix remains high at 65.7% of AUM compared to the industry average of 56.6%. A significant highlight is the scaling of the Alternatives platform, which grew from ₹60 billion to ₹148 billion YoY, supported by a new $50 million seed commitment for a VC/PE fund.
- Quarterly Average AUM (QAAUM) grew 13% YoY to ₹9.35 trillion, maintaining an 11.2% total market share.
- Systematic transactions (SIP + STP) reached ₹48.1 billion in June 2026, a 20% increase from ₹40.1 billion in June 2025.
- Alternatives AUM (AIF, PMS, and Advisory) surged 146% YoY to ₹148 billion.
- Equity yields remained stable at 58 basis points, while debt and liquid yields stood at 28 bps and 13 bps respectively.
- Unique investor base reached 17.1 million, representing a 28% penetration of the total mutual fund industry.
HDFC Asset Management Company (HDFCAMC) has been assigned an ESG rating of 80.9 by SES ESG Research Private Limited as of July 15, 2026. The company clarified that this was an unsolicited rating, prepared independently by the research firm using publicly available data rather than a formal engagement. For a company with a market cap of Rs 64,684 Cr and a high ROCE of 43.0%, such non-financial metrics are increasingly used by institutional investors for portfolio screening. This disclosure is a standard regulatory requirement under SEBI's ESG reporting framework.
- ESG rating of 80.9 assigned by SES ESG Research Private Limited
- Rating notification received via email on July 15, 2026
- Company confirmed zero financial engagement with the rating agency for this report
- Rating is based entirely on information available in the public domain
HDFC Asset Management Company (HDFCAMC) has released the audio recording of its Q1 FY27 earnings call held on July 15, 2026. This follows the announcement of financial results for the quarter ended June 30, 2026. The recording provides management's perspective on the company's performance, which recently saw closing AUM reach ₹8.73 trillion (as of Sept 2025 context). Investors can access the recording via the company's website for detailed commentary on market share and margins.
- Earnings call conducted on July 15, 2026, to discuss Q1 FY27 financial results
- Company services 14.5 million unique investors as per latest available context
- Maintained revenue margins at 58 basis points in previous reporting periods
- Operating profit margin remains high at 81.4% based on TTM data
HDFC AMC reported a steady Q1 FY27 with Profit After Tax (PAT) rising 12% YoY to ₹838.3 crore, supported by a 13% growth in Total Income to ₹1,361.1 crore. Quarterly Average Assets Under Management (QAAUM) reached ₹9,351 billion, a 13% YoY increase, with the high-margin equity-oriented mix improving to 65.7% from 64.2% a year ago. The company maintained a healthy operating margin of 35 bps of AUM. Unique investor count grew significantly to 17.1 million, representing 28% of the total mutual fund industry's unique investor base.
- Quarterly Average AUM (QAAUM) grew 13% YoY to ₹9,351 billion as of June 30, 2026.
- Profit After Tax (PAT) increased 12% YoY to ₹838.3 crore, representing approximately 30% of the previous TTM PAT.
- Equity-oriented QAAUM market share stood at 12.8%, with equity assets comprising 65.7% of the total portfolio.
- Unique investor base expanded to 17.1 million, a 25% increase from 13.7 million in June 2025.
- Digital efficiency reached a new high with 98% of all transactions in Q1 FY27 being executed electronically.
CRISIL ESG Ratings & Analytics Limited has independently assigned an ESG rating of 72 to HDFC Asset Management Company. The company clarified that it did not commission this rating, and it was developed based on publicly available data. With a market cap of Rs 68,270 Cr and a dominant 11.4% QAAUM market share, such ratings are increasingly relevant for institutional investor mandates. This disclosure is a routine regulatory intimation under SEBI LODR and does not impact financial operations.
- CRISIL assigned an ESG score of 72 to the company
- Rating was based on public domain information without direct company engagement
- Company manages a closing AUM of Rs 8.73 trillion as of September 2025
- HDFC AMC maintains a high operating profit margin of 81.4%
Financial Performance
Revenue Growth by Segment
Total revenue from operations for Q2 FY26 reached INR 1,026 crore, representing a 16% YoY growth. Revenue is primarily driven by the asset mix, which shifted in favor of equity from 63% to 64% YoY, maintaining revenue margins at approximately 58 basis points.
Geographic Revenue Split
The company services approximately 98% of Indian pin codes through 280 physical offices. A significant focus is on B30 (Below Top 30) towns, where 50 new offices were opened over the last two years to capture low-penetration growth areas.
Profitability Margins
Operating profit for Q2 FY26 grew 13% YoY to INR 779.6 crore, representing 35 basis points of AUM. Profit After Tax (PAT) stood at INR 717.9 crore, supported by a one-time reversal of income tax provisions for earlier periods amounting to INR 46.8 crore.
EBITDA Margin
Profit Before Tax (excluding non-cash ESOP charges of INR 21.1 crore) was INR 896.6 crore for Q2 FY26, a 4% increase YoY. Core operating profitability is maintained by scaling AUM while managing an employee cost base of approximately INR 124 crore per quarter.
Capital Expenditure
Not disclosed in available documents; however, the company continues to invest in digital assets and physical branch expansion (50 new offices in 24 months) to support its 14.5 million unique investor base.
Credit Rating & Borrowing
HDFC Mutual Fund schemes managed by HDFC AMC have been assigned an [ICRA]A1+ rating for INR 25,000 crore in short-term fund-based bank facilities. These are used as intraday liquidity facilities to manage redemption timing mismatches.
Operational Drivers
Raw Materials
Not applicable for asset management; primary costs are Employee Benefits (INR 124 crore/quarter) and Business Promotion/CSR (increased by INR 16-17 crore sequentially).
Import Sources
Not applicable for service-based asset management operations.
Key Suppliers
Not applicable; however, the company utilizes 103,000+ distribution partners including banks, national distributors, and fintech platforms to source AUM.
Capacity Expansion
Closing AUM reached INR 8.73 trillion as of September 30, 2025, nearly doubling from INR 4.2 trillion over three years. Unique investors grew from 6 million to 14.5 million in the same period.
Raw Material Costs
Not applicable; however, total expenses for Q2 FY26 were INR 246.4 million, including a non-cash charge of INR 21.1 million for ESOPs and PSUs to reinforce a culture of ownership.
Manufacturing Efficiency
Operational efficiency is reflected in the operating profit of 35 basis points of AUM and the ability to service 26 million live accounts with 1,704 employees.
Logistics & Distribution
Distribution is handled via a multi-channel approach: 103,000+ partners and digital assets. Direct channel growth is funneled through fintechs and internal sales teams.
Strategic Growth
Growth Strategy
Growth is targeted through the launch of new products like the HDFC Innovation Fund (collected INR 24 billion) and HDFC Diversified Equity All Cap Active FoF (collected INR 11 billion). The company is also expanding into the alternative investment space (AIF/PMS) and strengthening its partnership with UBS Asset Management for inbound/outbound strategies.
Products & Services
Mutual fund schemes (Equity, Debt, Liquid, Index funds), Portfolio Management Services (PMS), and Alternative Investment Funds (AIF).
Brand Portfolio
HDFC Mutual Fund, HDFC AMC.
New Products/Services
Recently launched HDFC Innovation Fund (INR 24 billion NFO) and HDFC Diversified Equity All Cap Active FoF (INR 11 billion NFO).
Market Expansion
Expansion into B30 towns with 50 new offices and increasing digital penetration to reach 98% of Indian pin codes.
Market Share & Ranking
11.4% QAAUM market share for the quarter ended September 30, 2025; 12.9% market share in Equity-oriented QAAUM.
Strategic Alliances
Partnership with UBS Asset Management for India small/mid-cap and all-cap strategies where HDFC AMC acts as an investment advisor.
External Factors
Industry Trends
The industry is seeing a shift toward digital transactions and increased penetration in smaller towns. HDFC AMC is positioning itself by expanding its B30 presence and upgrading its digital 'Security by Design' frameworks.
Competitive Landscape
Competes with other large AMCs and emerging fintech-led fund houses; maintains dominance with a 13.1% closing AUM market share.
Competitive Moat
Durable advantage through the 'HDFC' brand legacy, which drives investor trust, and a massive distribution network of 103,000+ partners that creates high entry barriers for new competitors.
Macro Economic Sensitivity
Highly sensitive to capital market volatility; adverse market movements impact AUM values and 'other income' through MTM changes.
Consumer Behavior
Increasing preference for equity-oriented products (now 66.1% of closing AUM) and digital-first transaction modes.
Geopolitical Risks
Indirect exposure through investment portfolios; mitigated via diversification across multiple schemes and sectors.
Regulatory & Governance
Industry Regulations
Not disclosed in available documents (excluding SEBI/capital market matters).
Environmental Compliance
Not disclosed in absolute INR; however, the company integrates ESG principles into internal operations and investment stewardship.
Taxation Policy Impact
The company reversed an income tax provision of INR 46.8 crore in Q2 FY26 following a reassessment for earlier periods, resulting in a lower effective tax rate for the quarter.
Legal Contingencies
Not disclosed in available documents (excluding SEBI/capital market matters).
Risk Analysis
Key Uncertainties
Sub-par investment performance could lead to a contraction in AUM (impact varies by scheme size). Regulatory changes to fee structures could compress margins.
Geographic Concentration Risk
Well-diversified across India, servicing 98% of pin codes; however, growth is increasingly reliant on B30 town penetration.
Third Party Dependencies
High dependency on service providers for IT and BCP/DRP preparedness, which are reviewed regularly for adherence to governance standards.
Technology Obsolescence Risk
Risk of cyber threats; mitigated by 'Security by Design' principles and frequent security audits by independent agencies.
Credit & Counterparty Risk
Exposure is primarily indirect through the debt schemes' underlying investments; HDFC MF manages this by predominantly investing in corporate bonds rated AA+ and above.
