CAMS Q2 FY27: Revenue up 10% to ₹415 Crore, PAT grows 14.5%
CAMS reported Q2 FY27 revenue of ₹415 crore, up 10% YoY, with PAT growing 14.5%. EBITDA rose 13.5% to ₹191 crore. Non-MF business grew 22%, with CAMSPay contributing 6% to revenue. MF AUM increased 12.5%, and equity AUM grew 15.5%. The company ended with ₹900 crore cash.
The robust financial performance, driven by both core MF services and expanding non-MF businesses, along with positive outlook on new initiatives and technological integration, indicates a significant positive impact on the company's future prospects.
The company reported strong double-digit growth in revenue, EBITDA, and PAT, exceeding market expectations despite moderate AUM growth. Diversification into non-MF businesses is yielding positive results, and technological advancements are improving efficiency.
Computer Age Management Services Limited (CAMS) reported its Q2 and H1 FY27 earnings, with operating revenue at the enterprise level growing 10% year-on-year to ₹415 crore, marking the first time the company has crossed the ₹400 crore mark. This growth was achieved despite a challenging market environment and modest asset growth of just over 12%.
EBITDA increased by 13.5% year-on-year to nearly ₹191 crore, even after absorbing a significant employee increment deferred from the first quarter and approximately ₹4 crore in costs for a new platform entering the P&L. EBITDA margins expanded by 140 basis points to 46%. Profit After Tax (PAT) grew 14.5% year-on-year, driven by the EBITDA margin expansion.
The non-mutual fund (non-MF) business continues to be a significant growth driver, with revenue growing nearly 22% year-on-year. CAMSPay, the payment services business, now contributes 6% to revenue, up from 2.5-3% two years ago. The company also saw strong performance in its Alternatives business, which grew 22% year-on-year, and KRA (KYC Registration Agency), which has seen a rebound in revenue growth.
In the mutual fund segment, CAMS MF AUM grew 12.5% to approximately ₹58.5 lakh crore, with a 67% market share. Equity AUM grew 15.5%, outpacing the industry average, driven by CAMS's strong share (over 70%) in equity net sales over the last year. SIP collections grew 16.5% year-on-year, also ahead of the industry.
New initiatives like SIF (Systematic Investment Facility) and GIFT City retail funds are showing promise, with SIF AUM reaching ₹20,000 crore and GIFT City AUM crossing ₹1,500 crore. CAMS also secured InCred AMC as a new mutual fund RTA client, bringing its total to 32 out of 64 licensed AMCs.
Technologically, the company is progressing well with its new platform, FUNDS Net, which is expected to significantly improve productivity for CAMS and the MF industry. AI capabilities are being integrated, with NISM adopting CAMS Lens as its AI-powered training partner. ConsenPro, a DPDP implementation product, is under development with 20 clients.
Financially, yields have remained stable, with a less than 1% contraction quarter-on-quarter and around 3% year-on-year, within predicted ranges. Expense growth was managed at just over 7% year-on-year, despite the employee increments. The company ended the quarter with a comfortable ₹900 crore cash position after paying dividends.
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