Conference Call with Computer Age Management Services Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Capital Markets company Computer Age Management Services announced consolidated Q1FY24 results: Revenue at Rs 261.30 crore 10.4% on a YoY basis PBT at Rs 101.91 crore 17.0% on YoY basis PAT at Rs 76.34 crore 17.9% on a YoY basis, PAT margins at 28.2% Basic EPS for Q1FY24 stands at Rs 15.58 (not annualized) Commenting on the performance, Anuj Kumar, Managing Director said, “The Indian mutual fund industry grew by 6.4% quarter-on-quarter (QoQ) to reach Rs 43.8 trillion in AAUM and is well-positioned for future growth. Our assets under management grew by 6.8% QoQ, ahead of the industry, to cross the Rs 30 trillion mark. CAMS serviced funds added ~20 lakh net SIPs during the quarter taking our share in SIP registrations to 65%, confirming that mutual funds are the preferred route for long-term investors. We also had a higher share in net sales in both the equity and debt segments, at 99% and 78% respectively. This has contributed to our MF AuM share increasing QoQ from 68.3% to 68.7%. We are excited to witness accelerated growth in our non-mutual fund businesses as we continue to foster innovation, accelerate value creation and explore new frontiers. Our market dominance in the Alternative Services segment has been further cemented by the business winning 27 new contracts in the quarter and assets under administration crossing Rs 1.75 trillion. Our full-service suite of offerings for this segment has been further enhanced by our collaboration with Temenos for their global fund administration platform Multifonds and by several digital initiatives that have been implemented for our clients along with Fintuple. CAMSPay’s business has grown by 25% YoY. We continue to invest in product features aimed at enhancing user experience and expanding our offerings. Some of our recent accomplishments include the introduction of UPI AutoPay, QR-based UPI, Pay-by-link, and Registration-by-link for registration/transaction failures and drop-outs. CAMS KRA has launched a first-of-its-kind, AI-powered seamless KYC solution that makes it easy for businesses to onboard customers. The convenience of our Aadhaar-based eKYC for KYC submission, combined with our 10-minute KYC registration process, makes our product suite a very compelling and unique offering for capital market entities. The solution will vastly improve new customer onboarding and offers enhanced data security measures with best-in-class industry certifications, such as BCMS, SAFE, and advanced BitSight. Our recent acquisition, Think360.ai, has further solidified its position as a leader in the business intelligence and analytics space with wins from marquee clients such as Canara Bank and SBI Cards. The Account Aggregator (AA) business, CAMSFinserv, is firing on all cylinders, leading the industry in FIP integrations. Deal momentum and revenue realizations have picked up, and we are seeing widespread acceptance among Fintechs and lending institutions for our industry-first product features, such as Multi FIP Consent and Single journey supporting multiple flows. Our ahead-of-the-curve initiatives have been widely acknowledged by the industry, with the Group winning awards in multiple categories, including the ET Datacon Award, the BW HR Excellence Award, the Banking Frontiers Technoviti Award, and the FE Best CFO in the SME Category Award.” Result PDF