CAMS Q4 FY26: Highest Ever Revenue, Non-MF Growth Strong
Computer Age Management Services Limited (CAMS) achieved its highest-ever quarterly revenue in Q4 FY26, with non-MF revenue up 25% YoY. Absolute EBITDA reached ₹183 crores, and margins stood at 46.5%. AUM grew 21% YoY to ₹55.1 lakh crores. New SIP registrations increased 46% YoY to 1.26 crore. The company declared a final dividend of ₹4 per share.
The announcement details record financial performance, significant growth drivers (non-MF business, SIPs), and strategic initiatives (automation, rearchitecture). These are material factors that are likely to influence investor perception and the company's future trajectory.
The company reported its highest-ever quarterly revenue, strong growth in its non-MF segment, record EBITDA, and improved margins. Key metrics like SIP registrations and collections also showed significant year-on-year growth, indicating a positive business performance and outlook.
Computer Age Management Services Limited (CAMS) reported its highest ever quarterly revenue in Q4 FY26, driven by a strong performance in its non-mutual fund (non-MF) business, which grew by nearly 25% year-on-year, exceeding its own promise of 20% growth. The mutual fund (MF) business revenue remained nearly flat, growing by approximately 0.5%, a performance considered stable given the circumstances.
Absolute EBITDA scaled to a new high of ₹183 crores, with EBITDA margins climbing to about 46.5%. Despite a slight decrease in Assets Under Management (AUM) to ₹55.1 lakh crores due to geopolitical impacts, the company maintained a 68% overall market share and grew equity AUM by 21% year-on-year to ₹30.5 lakh crores, holding a 67% share. Equity net sales saw a significant increase in CAMS's share from 71% to 76%, with net sales exceeding ₹1 lakh crores.
New SIP registrations reached approximately 1.26 crores, a 46% year-on-year increase, significantly outpacing industry growth. Annual SIP registrations were close to 5 crores, up 17% year-on-year and nearly double the industry's growth. SIP collections crossed the ₹20,000 crore milestone in March, growing 17% year-on-year to nearly ₹59,000 crores for the quarter, with CAMS's share of these collections rising from 57% to 64%.
The non-MF business, encompassing areas like Pay, Alternatives, and KRA, showed robust growth. CAMSPay and Payment Gateway delivered 23% growth, while Alternatives revenue grew over 25% with AUM crossing ₹3 lakh crores. The KRA business demonstrated a 28% year-on-year revenue growth despite industry headwinds and price adjustments. Bima Central doubled its active user base, and the company is exploring opportunities in insurance policy issuance in demat format.
CAMS is also focusing on strategic initiatives like the rearchitecture program, aiming to improve productivity through automation and AI. The company anticipates revenue growth on a falling headcount in FY27, indicating enhanced employee productivity. New platforms like a data lake and transaction origination platform are expected to be rolled out within the next 3-4 months, with benefits expected to manifest in lower complaints, reduced fraud, and improved risk management.
For the full fiscal year FY26, the company achieved an 11% year-on-year revenue growth. The Board has declared a final dividend of ₹4 per share, subject to shareholder confirmation, leading to a total disbursement of ₹305 crores for the year. Management expressed confidence in the sustainability of current margins and the continued growth of the non-MF portfolio, projecting it to reach ₹100 crores per quarter within three years.
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Computer Age Management Services Limited filed this with the NSE as a statutory disclosure, categorised under other company updates. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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