HDFC Asset Management Company (HDFCAMC) Q4 24/25 earnings summary

Executive summary

• Industry AUM reached INR 65.7 trillion in FY25, up 23% year-over-year, with net new flows of INR 8.2 trillion, marking the 13th consecutive year of positive net flows.

• The company’s AUM crossed INR 7,545 billion as of March 31, 2025, with a market share of 12.8% and 24% YoY growth; equity-oriented assets comprised 64% of AUM.

• FY25 PAT stood at INR 24,609 million, up 26% YoY; total income grew 28% to INR 40,582 million.

• Return on equity improved to 32.4% in FY25; final dividend of INR 90 per share proposed.

• Audited standalone and consolidated financial results for FY25 were approved with an unmodified auditor's opinion.

Financial highlights

• Revenue from operations for FY25 was INR 34,980 million, up 35% year-over-year; total expenses increased 13% YoY.

• Operating profit reached INR 27,261 million, a 43% year-over-year increase, with an operating profit margin of 36 basis points of AUM.

• PAT for the year was INR 24,609 million, up 26% year-over-year.

• Basic EPS (standalone) for FY25 was Rs. 115.20, compared to Rs. 91.15 in FY24.

• Board recommended a dividend of INR 90 per share (vs. INR 70 last year), with a payout ratio of 78%.

Outlook and guidance

• Management remains focused on prudent cost control, with total expenses at 10 basis points of AUM for FY25, aided by rapid AUM growth.

• Caution was noted that if AUM growth moderates, expense ratios may rise.

• Management highlights strong digital engagement, ESG focus, and continued expansion in B-30 markets.

• The company is committed to expanding its alternative investment platform and international offerings.

• Cautions on forward-looking statements due to regulatory, economic, and market uncertainties.