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Results
26-Oct-21
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Analysis
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HDFC Asset Management Company
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AUM growth steady at 17%, equity oriented funds share rises to 46.2%
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HDFC Asset Management Company has posted 2% increase
in the net profit to Rs 344.38 crore in the quarter ended September 2021
(Q2FY2022). The operating profit of the company rose 12% to Rs 411.10 crore. The
company has posted healthy revenue growth to 19% at Rs 542.33 crore, while
other income dipped 42% to Rs 66.07 crore in Q2FY2022.
The employee expenses surged 49% to Rs 79.84 crore,
while fees and commission expenses rose 5% to Rs 1.37 crore. The other expense increased
37% to Rs 52.23 crore.
The depreciation eased to Rs 13.59 crore in
Q2FY2022 from Rs 14.06 crore in Q2FY2021. The profit before tax was flat at Rs 461.37
crore. The effective tax eased 25.36% in Q2FY2022 from 26.98% in Q2FY2021. The
net profit rose 2% to Rs 344.38 crore in Q2FY2022.
Book value of the company stood at Rs 224.6 per
share end September 2021.
Business
highlights
QAAUM increased 17% to Rs 438900 crore
end September 2021 from Rs 375500 crore end September 2020. The company has 12.1%
market share in QAAUM of the mutual fund industry.
QAAUM in actively managed
equity-oriented funds i.e. equity oriented QAAUM excluding index funds stood at
Rs 187700 crore end September 2021 with a market share of 12.2%.
The share of equity oriented funds has
increased to 46.2% end September 2021. The AMC is one of the largest actively
managed equity-oriented mutual fund managers in the country.
Amongst India’s largest Actively
Managed Equity Mutual Fund QAAUM, with market share at 12.2% end September 2021.
Most preferred choice of individual
investors, with a market share of 12.8% of the individual monthly average AUM
as of September 2021.
3.22 million Systematic transactions
with a value of Rs 1080 crore processed during the month of September 2021.
Over 70,000 empaneled distribution partners
across MFDs, National Distributors and Banks, serviced through a total of 227
branches of which 149 are in B-30 locations. The contribution of B-30 locations
to our total monthly average AUM is 15.4%.
End September 2021, 58.8% of the company’s
total monthly average AUM is contributed by individual investors compared to
54.5% for the industry.
Market share of 12.8% of the
individual monthly average AUM in the industry, making the company the most
preferred choice of individual investors.
Total Live Accounts stood at 9.2
million as on 30 September 2021. Unique customers as identified by PAN or PEKRN
now stands at 5.4 million as on 30 September 2021 compared to 26.7 million for
the industry.
Financial
performance H1FY2022
HDFC Asset Management Company has reported 8% rise
in the net profit to Rs 689.83 crore in the half year ended September 2021
(H1FY2022). The operating profit of the company galloped 16% to Rs 792.05 crore.
The company has recorded healthy revenue growth of 21% to Rs 1049.41 crore, while
other income declined -14% to Rs 166.98 crore in H1FY2022.
The employee expenses surged 54% to Rs 163.30 crore,
while fees and commission expenses declined -1% to Rs 2.64 crore. The other
expenses moved up 18% to Rs 95.86 crore.
The depreciation eased to
Rs 27.10 crore in H1FY2022 from Rs 27.79 crore in H1FY2021. The profit before
tax increased 10% to Rs 927.49 crore. The effective tax was higher at 23.85% in
H1FY2022 from 23.49% in H1FY2021. The net profit jumped 8% to Rs 689.83 crore
in H1FY2022.
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HDFC Asset Management
Company: Results
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2109 (3)
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2009 (3)
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Var %
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2109 (6)
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2009 (6)
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Var %
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2103 (12)
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2003 (12)
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Var %
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Sales
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542.33
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456.25
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19
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1049.41
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867.74
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21
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1852.53
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2003.25
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-8
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OPM %
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75.8%
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80.1%
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75.5%
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78.6%
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79.0%
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78.5%
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OP
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411.10
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365.52
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12
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792.05
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682.00
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16
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1464.10
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1572.22
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-7
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Other Income
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66.07
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113.70
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-42
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166.98
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193.52
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-14
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349.21
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140.18
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149
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PBDIT
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477.17
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479.22
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0
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959.03
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875.52
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10
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1813.31
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1712.40
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6
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Interest
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2.21
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2.21
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0
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4.44
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4.41
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1
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8.95
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8.98
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0
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PBDT
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474.96
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477.01
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0
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954.59
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871.11
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10
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1804.36
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1703.42
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6
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Depreciation
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13.59
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14.06
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-3
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27.10
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27.79
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-2
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55.41
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50.37
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10
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PBT after EO
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461.37
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462.95
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0
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927.49
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843.32
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10
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1748.95
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1653.05
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6
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Tax
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116.99
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124.89
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-6
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237.66
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202.90
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17
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423.19
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390.64
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8
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PAT
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344.38
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338.06
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2
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689.83
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640.42
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8
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1325.76
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1262.41
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5
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EPS (Rs)*
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64.6
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63.4
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64.7
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60.1
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62.2
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59.2
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*EPS is annualized on
latest equity of Rs 106.58 crore, face value of Rs 5 each
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LP : Loss to profit ;
PL : Profit to loss
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Source: Capitaline
Corporate Database
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