HDFC Asset Management Company Ltd. share price target

While inflows witness a gradual uptick, challenges remain with declining market share and uncertainties. However, digital resurgence, new product launches, prospective inflows on the back of brand value should aid growth. Given balanced risk-reward position, we maintain our HOLD rating with a revised TP of Rs. 3,170 based on 41x FY23E EPS. Topline and PAT grow upon healthy inflows Total revenue from operations for Q1FY22 rose 23.2% YoY to Rs. 507cr, on healthy inflows into equity-oriented funds. EBITDA came in at Rs. 379cr (+20.5% YoY) while...

QAAUM rose to 4,156bn as of March 31, 2021 compared to 3,698bn as on March 31, 2020. Company achieved 12.9% market share on QAAUM basis of the mutual fund industry, as against 13.1% as on December 31,...

Steady performance; market share to be watched HDFC AMC's AUM saw a marginal decline of 2.7% QoQ to | 395500 crore (24% YoY), mainly led by ~19% QoQ decline in liquid AUM to | 63800 crore. Equity AUM increased 3% QoQ to | 165400 crore, now forming 43% of total AUM. HDFC AMC continued to witness decline in market share from 14.3% in Q4FY20 to 13.1% in Q3FY21 and 12.6% in Q4FY21. Equity AUM (actively...

With the evidence of better financial performance on a sequential basis, we generally have a positive view on the company's market positioning and strategy. As the market hovers around all-time-high, we may see some selling pressure in the coming months. Hence, as this juncture, we...

Industry AUM increased from | 26.9 lakh crore as of Q2FY21 to | 31 lakh crore as of Q3FY21, largely led by pick up in non-equity inflows. Equity related AUM increased by 12% YoY at | 12.2 lakh crore, proportion of equity AUM stood at 39% as against 41% YoY. Debt schemes witnessed healthy...

Operating profit decreased by 21.2% YoY to Rs. 301cr, with operating margin contracting 261bps YoY to 73.0%, impacted by fall in equity market. PAT reported at Rs. 302cr (+3.6% YoY) helped by higher other...

Equity flows remain subdued