Other financial services company Prudent Corporate Advisory Services announced Q3FY23 results: Q3FY23 & 9MFY23: Equity AUM on Dec 22 at Rs 52,593 crore, up by 18.1% YoY Revenue for 9MFY23 at Rs 434.4 crore, up by 35.2% YoY and for Q3FY23 at Rs 158.3 crore, up by 25.9% YoY EBITDA for 9MFY23 at Rs 114.8 crore, up by 41.0% YoY EBITDA Margins are higher by 109 bps for 9MFY23. PAT at Rs 75.5 crore for 9MFY23, up by 30.9% YoY and for Q3FY23 at Rs 28.5 crore, up by 27.8% YoY. Mr. Sanjay Shah, Chairman and Managing Director, commented on the results and said, "The 9 months of FY2023 and Q3FY23 has been another period where Prudent has witnessed substantial and consistent growth in revenue and profitability. Healthy cash flows enabled the acquisition of the Mutual Fund AUM of iFast Financial Pvt Ltd. This has been perennial part of our growth strategy, wherein we are focussed on both Organic as well as Inorganic growth". Talking about nine months ended of the current fiscal, Mr. Sanjay Shah added, "The first nine months of FY2023 has been promising, with revenue up by 35.2% to Rs 434.4 crore. At the same time, profit after tax (PAT) is up by 30.9% YoY to Rs 75.5 crore. We are steadily growing our market share, with more than 14.95 lakh clients under our belt as of December 2022. Along with profitability, our ability to generate strong free cash flows is bolstering our capacity to move forward rapidly and confidently. We anticipate a higher inflow of funds and a steady rise in our AUM in the upcoming quarters due to the economy's broad-based recovery. Our MF Assets are growing at double the rate of the industry on the back of our organic and inorganic strengths." CEO & Whole-time Director, Mr. Shirish Patel, commented: "We are delighted to see Prudent Corporate Advisory Services now get ranked as the second-largest non-banking Mutual Fund Distributor based on Commissions Earned, thanks to the efforts of our channel partners and our team. As per the CAMS December 2022 ranking, we are now the 3rd largest in total AUM in retail and 5th largest in total folios. Thanks to our highly scalable, asset-light, and cash generative business model, we have shown a consistent record of accomplishment in delivering profitable growth.” Result PDF
Prudent Corporate Advisory Services announced Q2FY23 results: Q2FY23 & H1FY23: Equity AUM at Rs.49,673 crore, up by 40.5% YoY Revenue for Q2FY23 at Rs.147.6 crore, up by 39.7% YoY; for H1FY23 Rs.276 crore, up by 41.2% YoY EBITDA at Rs.40.2 crore, up by 58.4% YoY EBITDA Margins are higher by 322 bps YoY at 27.2%. PAT at Rs.27.6 crore, up by 41.1% YoY; for H1FY23 Rs.47.0 crore, up by 33.9% YoY. Mr. Sanjay Shah, Chairman and Managing Director, commented on the results, and said, "The 2nd Quarter of FY2023 has been another quarter where Prudent has witnessed substantial growth in revenue and profitability. Healthy cash flows led to the acquisition of Mutual Fund AUM of Karvy Stock Broking Limited in an all-cash deal in FY2022. On July 22, we continued our inorganic expansion by signing a term sheet to acquire MF AUM of iFast Financial India Private Limited." Talking about the first half of the current fiscal, Mr. Sanjay Shah added, "The first half of FY2023 has been promising, with revenue up by 41.2% to Rs 276 crore. At the same time, profit after tax (PAT) is up by 33.9% YoY to Rs 47.0 crore. We are steadily growing our market share, with more than 14.58 lakh clients in September 2022. Along with profitability, the strength of our cash flow generation is bolstering our capacity to proliferate moving forward. We anticipate a higher inflow of funds and a steady rise in our AUM in the upcoming quarters due to the economy's broad-based recovery. Our MF Assets are growing at double the rate of the industry on the back of our organic and inorganic strength." CEO & Whole-time Director, Mr Shirish Patel, commented: "We are delighted to announce that Prudent Corporate Advisory Services has been ranked as the second-largest non-banking Mutual Fund Distributor based on Commissions Earned thanks to the efforts of our channel partners & our team. As per CAMS September 2022 ranking, we are the 3rd largest in total AUM in retail and 5th largest in total folios. We have shown a consistent track record of profitable growth due to a highly scalable, asset-light and cash-generative business model. The cost-to-income ratio has continuously decreased to 18.9% in 1HFY23 as compared to 21.0% in the same period a year ago despite the expansion in branches to 118 in FY23 and the employee count increasing to 1122." Result PDF
Financial Services firm Prudent Corporate Advisory Services Announced Q1FY23 Result : Prudent Corporate Advisory Services Limited Profits grew by 25% YoY & Flows from SIPs Reach Highest Ever in 1QFY23 Equity AUM at Rs 43,618 crore, up by 43% YoY Revenue at Rs 128.3 crore, up by 43% YoY EBITDA at Rs 32.1 crore, up by 54% YoY EBITDA Margins higher by 180 bps YoY PAT at Rs 15.6 crore, up by 25% YoY Assets Under Management Despite headwinds on the marked to market (M2M), Equity AUM grew by 43% to Rs 43,618 crore led by strong net sales & Karvy’s acquisition. We strengthened our position in Equity AUM market share (Ex-ETFs) by 37 bps YoY to 2.30%. Revenues grew by 43% YoY to Rs 128.3 crore led by strong AUM growth in mutual fund business & a higher equity mix in the overall AUM. Equity mix improved by 0.2% YoY to 93.1%. EBITDA & Margins Operating profit grew by 54% YoY to Rs 32.1 crore. Operating profit growth was higher than revenue growth led by operating leverage. Profit After Tax grew by 25% YoY to Rs 19.4 crore. PAT growth was slower than operating profit growth mainly led by higher depreciation and lower other income. Depreciation increased 200% YoY led by amortization of Karvy assets we acquired as on November 2021. Commenting on the results, Mr Sanjay Shah, Chairman and Managing Director, said, “The 1st Quarter of FY23 has been outstanding in revenue and profitability. We have been able to generate significant free cash flows consistently, aided by our organic and inorganic growth engines. In FY2022, we acquired Karvy’s Mutual Fund AUM, totalling Rs 8,093 crore. In July 22, we continued our inorganic expansion by signing a term sheet to acquire MF AUM of iFast Financial India Private Limited.” Result PDF