HDFCAMC
HDFC AMC share price & financials
- Price
- ₹2,719
- Market cap
- ₹1.1L Cr
- Sector
- Financial Services
- Calls analysed
- 7
HDFC AMC Q1 FY27
What went well
- Quarterly average AUM (QAAUM) grew 13% Y-o-Y to INR 9.35 trillion.
- Revenue from operations grew 14% Y-o-Y to INR 11 billion.
- Profit after tax grew 12% Y-o-Y to INR 8.4 billion.
What to watch
- Debt QAAUM saw a 6% Q-o-Q decline and debt funds lost INR 757 billion due to volatility in rupee, interest rates, and global factors.
- Equity market share dipped sequentially by 20 basis points, primarily attributed to mark-to-market (MTM) movement.
What HDFC AMC does
HDFC Asset Management Company manages HDFC Mutual Fund, one of India's largest fund houses, offering actively and passively managed equity, debt, liquid and other schemes. It earns management and advisory fees on the assets it manages across mutual funds, alternatives (PMS and AIF) and international mandates. Products reach investors through a multi-channel network of direct, banks (including HDFC Bank), national distributors and mutual fund distributors, alongside a largely digital transaction stack.
Segments
- Mutual Funds
- Alternatives
- International Business
- Closing assets under management (AUM)
- Rs 8,440 bn (as of Mar 31, 2026)
- Market position, actively-managed equity
- 13.0% market share of the mutual fund industry
- Live accounts
- 30.2 million
- Unique investors
- 16.7 million
- Offices
- 280 (196 in B-30 cities; includes one representative office in Dubai)
- Empaneled distribution partners
- 109,000+
Guidance record · Q1 FY27
what the last two calls moved 13 tracked 4 delivered 2 missed 7 open- Launch of Credit Opportunities Fund delivered said Q4 FY25 Promised: Approaching investors/distributors for product launch in next couple of quarters Q1 FY27: Management noted they are 'closing a private credit fund this quarter', confirming the successful execution of this initiative.
- Noncash ESOP/PSU Expense (FY26) missed said Q1 FY26 Promised: INR 56 crores Q1 FY27: Promise relates to the completed FY26 and was missed. No new information.
- Operating Margin Band on track said Q2 FY26 Promised: 33-35 basis points range Q1 FY27: Q1 FY27 operating margin was 35 bps. Management guidance reverted to the original, tighter band: 'We've typically operated in the 33 to 35 basis points range. And that's the objective for us to stay within that corridor.'
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 13.4%, net profit up 12.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 887 | 934 | 901 | 968 | 1,026 +16% | 1,074 +15% | 1,050 +17% | 1,098 +13% |
| EBITDA | 704 | 764 | 731 | 774 | 801 +14% | 877 +15% | 846 +16% | 852 +10% |
| Net profit | 577 | 641 | 639 | 748 | 718 +24% | 770 +20% | 623 −3% | 838 +12% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −58.6% 1Y
1Y: ₹5,804.5 on 10 Sept 2025 → ₹2,403.9. High ₹5,883.5 (23 Sept 2025), low ₹2,216.4 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +2.6%
- 15 Jul
- Q4 FY26
- −0.1%
- 16 Apr
- Q3 FY26
- +2.8%
- 14 Jan
- Q2 FY26
- +3.0%
- 15 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 26.2% a year over 2 years, FY24 to FY26. Operating margin widened to 80.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹2.6k Cr | ₹3.5k Cr | ₹4.1k Cr |
| Operating profit | ₹2.0k Cr | ₹2.8k Cr | ₹3.3k Cr |
| Operating margin | 75.9% | 79.9% | 80.1% |
| Interest | ₹8 Cr | ₹9 Cr | ₹13 Cr |
| Depreciation | ₹52 Cr | ₹59 Cr | ₹72 Cr |
| Net profit | ₹1.9k Cr | ₹2.5k Cr | ₹2.9k Cr |
| Net margin | 75.3% | 70.4% | 69.4% |
| ROCE | 38.0% | 43.0% | 43.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹106 Cr | ₹107 Cr | ₹107 Cr | ₹107 Cr | ₹107 Cr | ₹214 Cr |
| Reserves | ₹4.7k Cr | ₹5.4k Cr | ₹6.0k Cr | ₹7.0k Cr | ₹7.6k Cr | ₹9.0k Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹319 Cr | ₹350 Cr | ₹428 Cr | ₹478 Cr | ₹691 Cr | ₹757 Cr |
| Total liabilities | ₹5.1k Cr | ₹5.9k Cr | ₹6.5k Cr | ₹7.6k Cr | ₹8.4k Cr | ₹10.0k Cr |
| Fixed assets | ₹153 Cr | ₹135 Cr | ₹150 Cr | ₹151 Cr | ₹232 Cr | ₹268 Cr |
| Capital work in progress | ₹1 Cr | ₹0 Cr | ₹2 Cr | ₹1 Cr | ₹0 Cr | ₹2 Cr |
| Investments | ₹4.8k Cr | ₹5.6k Cr | ₹6.1k Cr | ₹7.2k Cr | ₹7.9k Cr | ₹9.4k Cr |
| Other assets | ₹187 Cr | ₹175 Cr | ₹305 Cr | ₹215 Cr | ₹302 Cr | ₹322 Cr |
| Total assets | ₹5.1k Cr | ₹5.9k Cr | ₹6.5k Cr | ₹7.6k Cr | ₹8.4k Cr | ₹10.0k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs added +2.13 pp while DIIs trimmed −1.90 pp. The shareholder count grew 2% to 4,32,914.
- Promoters
- 52.3%
- FIIs
- 24.1%
- DIIs
- 14.8%
- Public
- 8.8%
Since Jun 2025
- FIIs +2.13 pp
- DIIs −1.90 pp
- Public −0.13 pp
How it drifted, 12 quarters
Over this window FIIs went from 16.1% to 24.1% — +8.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 52.5%, FIIs 16.1%, DIIs 20.7%, Public 10.7%.Dec '23: Promoters 52.5%, FIIs 18.0%, DIIs 19.5%, Public 10.0%.Mar '24: Promoters 52.5%, FIIs 20.0%, DIIs 18.4%, Public 9.1%.Jun '24: Promoters 52.5%, FIIs 20.6%, DIIs 17.7%, Public 9.2%.Sep '24: Promoters 52.5%, FIIs 21.6%, DIIs 16.9%, Public 9.0%.Dec '24: Promoters 52.5%, FIIs 21.3%, DIIs 17.0%, Public 9.2%.Mar '25: Promoters 52.5%, FIIs 20.5%, DIIs 18.0%, Public 9.0%.Jun '25: Promoters 52.4%, FIIs 22.0%, DIIs 16.7%, Public 8.9%.Sep '25: Promoters 52.4%, FIIs 24.7%, DIIs 14.1%, Public 8.7%.Dec '25: Promoters 52.4%, FIIs 24.0%, DIIs 14.9%, Public 8.7%.Mar '26: Promoters 52.4%, FIIs 24.4%, DIIs 14.4%, Public 8.8%.Jun '26: Promoters 52.3%, FIIs 24.1%, DIIs 14.8%, Public 8.8%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- SBI Mutual Fund Mutual fund newly disclosed 1.17% held
- ICICI Mutual Fund Mutual fund +0.48 pp 2.44% held
- Government Pension Fund Global Sovereign +0.38 pp 1.67% held
- NPS Trust- A/C Pension / PF +0.13 pp 3.01% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of HDFC AMC above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| HDFC Bank Limited Bank | 52.34% | unchanged |
| NPS Trust- A/C Pension / PF | 3.01% | +0.13 pp |
| ICICI Mutual Fund Mutual fund | 2.44% | +0.48 pp |
| Government Pension Fund Global Sovereign | 1.67% | +0.38 pp |
| Jpmorgan Emerging Markets Equity Fund Global fund house | 1.25% | −0.05 pp |
| Zulia Investments Pte. Ltd. FPI fund | 1.19% | unchanged |
| SBI Mutual Fund Mutual fund | 1.17% | newly disclosed |
| Smallcap World Fund, Inc Global fund house | 1.06% | unchanged |
| HDFC Pension Fund Management Limited | 0.00% | unchanged |
| HDB Financial Services Limited | 0.00% | unchanged |
| HDFC Securities IFSC Limited | 0.00% | unchanged |
| Griha Investments | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in HDFCAMC
Filings to Aug 2026
0 new, 14 added, 7 trimmed, 0 sold out — net −5.88 L shares (−7.9%).
- Held by funds
- ₹1.8k Cr
- 30 schemes
- Biggest holder
- SBI Flexicap Fund
- ₹252 Cr · 1.1% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Flexicap Fund SBI Mutual Fund | ₹252 Cr | held | Feb '26 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹210 Cr | −2.21 L | Feb '25 |
| Nippon India Banking & Financial Services Fund Nippon India Mutual Fund | ₹201 Cr | +1.00 L | Feb '25 |
| SBI Arbitrage Fund SBI Mutual Fund | ₹199 Cr | +1.21 L | Oct '25 |
| Nippon India ETF Nifty Next 50 Junior BeES Nippon India Mutual Fund | ₹189 Cr | +0.23 L | Mar '26 |
| SBI Contra Fund SBI Mutual Fund | ₹170 Cr | held | Dec '22 |
| Nippon India Multi Asset Allocation Fund Nippon India Mutual Fund | ₹104 Cr | +1.38 L | Jan '25 |
| SBI Large and Midcap Fund SBI Mutual Fund | ₹74 Cr | −2.75 L | Mar '23 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
14 added, 7 trimmed — net −5.88 L shares (−7.9%)
- Funds are sitting on
- +22%
- vs est. average cost
- Held by funds
- ₹1.8k Cr
- 30 schemes · ≈ 1.7% of the company
- Biggest holder
- SBI Flexicap Fund
- ₹252 Cr · 1.1% of that fund
- Longest holder
- Nippon India Retirement Fund - Wealth Creation Scheme
- 4y 2m · since Jul '22
Shares held by these funds −78%
Aug '23 74.82 L shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse HDFC AMC
Guides on how to read this kind of business and the numbers that matter.