Hdfc Asset Management Co. Ltd. · NSE:HDFCAMC
Hdfc Asset Management — Q1 FY25 Earnings Presentation
33 slides from Hdfc Asset Management's earnings presentation, July 2024
Slide 1: Q1 FY25 Earnings Presentation
Q1 FY25 Earnings Presentation (For the Quarter ended June 30, 2024)
Slide 2: HDFC AMC at a Glance
HDFC AMC at a Glance AUM Financials ₹7,056 bn ₹4,724 bn ₹30 bn ₹9,483 mm ₹6,039 mm 34 bps Closing AUM1 Equity-Oriented Closing AUM1 PMS & SMA AUM3 Total Income Operating Margin PAT (Q1FY25) (Q1FY25) (Q1FY25) ₹6,716 bn ₹4,319 bn QAAUM2 Equity-Oriented QAAUM2 Customer base ₹4,072 bn ₹1,427 bn ₹715 bn
Slide 3: Industry
Industry 3
Slide 4: Industry – AUM and Net Sales
Industry – AUM and Net Sales Quarterly Average AUM (QAAUM) Closing AUM 49% 54% 56% 51% 57% 58% 59.0 61.2 54.1 9.6 53.4 9.8 43.1 8.6 5.9 44.4 8.7 4.9 AUM (₹ trn) 5.8 6.4 10.7 6.7 4.2 10.9 5.7 10.2 5.1 10.0 9.8 10.0 29.4 32.8 30.4 35.6 21.2 22.7 Jun-23 Mar-24 Jun-24 Jun-23 Mar-24 Jun-24 Jun-23 to Jun-
Slide 5: Industry - MAAUM by Investor Category & Location
Industry - MAAUM by Investor Category & Location Overall MAAUM by Overall MAAUM by Individual Folios Investor Category Location 57% 61% 61% 17% 18% 18% 189.9 176.8 61.3 61.3 148.2 55.0 55.0 11.1 23.9 9.8 44.8 44.8 21.7 MAAUM (₹ trn) MAAUM (₹ trn) 7.6 19.2 50.2 45.2 37.5 37.2 33.3 25.7 Jun-23 Mar-24
Slide 6: Industry - MAAUM by Investor Category & Location
Industry - MAAUM by Investor Category & Location Individual MAAUM by Asset Equity MAAUM by Investor Equity MAAUM by Class Category Location 78% 82% 83% 91% 91% 91% 27% 27% 27% 37.5 34.4 34.4 33.3 6.3 3.3 30.0 30.0 6.1 9.3 25.7 2.8 MAAUM (₹ trn) MAAUM (₹ trn) MAAUM (₹ trn) 22.1 8.2 5.7 22.1 2.1 5.9 3
Slide 7: Industry - SIP Flows & AUM
Industry - SIP Flows & AUM SIP Flows SIP AUM 66.5 84.0 89.9 213 193 12.4 10.7 147 SIP contribution (₹ bn) 7.9 SIP AUM (₹ tn) Jun-23 Mar-24 Jun-24 Jun-23 Mar-24 Jun-24 No. of SIP Accounts (mm) 7 Source: AMFI
Slide 8: HDFC AMC
HDFC AMC 8
Slide 9: Total AUM & Market Share
Total AUM & Market Share Quarterly Average AUM Closing AUM 11.3% 11.3% 11.4% 11.2% 11.4% 11.5% YoY 38% (₹ bn) (₹ bn) YoY 41% QoQ 10% QoQ 16% 6,716 7,056 6,129 6,073 4,857 4,993 Jun-23 Mar-24 Jun-24 Jun-23 Mar-24 Jun-24 Market Share Market Share 9 Source: Internal, AMFI
Slide 10: Total AUM & Market Share (Ex ETFs)
Total AUM & Market Share (Ex ETFs) Quarterly Average AUM Closing AUM 12.6% 12.7% 12.8% 12.6% 12.8% 13.0% (₹ bn) (₹ bn) YoY 38% YoY 41% QoQ 10% QoQ 16% 6,593 6,926 6,019 5,958 4,766 4,899 Jun-23 Mar-24 Jun-24 Jun-23 Mar-24 Jun-24 Market Share Market Share 10 Source: Internal, AMFI
Slide 11: Actively Managed Equity-oriented AUM and Market Share
Actively Managed Equity-oriented AUM and Market Share Quarterly Average AUM Closing AUM 12.1% 12.8% 12.9% 12.2% 12.8% 13.0% (₹ bn) (₹ bn) YoY 64% YoY 66% QoQ 12% QoQ 18% 4,072 4,438 3,650 3,754 2,488 2,679 Jun-23 Mar-24 Jun-24 Jun-23 Mar-24 Jun-24 Market Share Market Share 11 Source: Internal, AMFI
Slide 12: Debt AUM & Market Share
Debt AUM & Market Share Quarterly Average AUM Closing AUM 13.2% 13.4% 13.3% 13.3% 13.4% 13.5% (₹ bn) (₹ bn) YoY 10% YoY 11% QoQ 4% QoQ 9% 1,368 1,427 1,468 1,296 1,323 1,341 Jun-23 Mar-24 Jun-24 Jun-23 Mar-24 Jun-24 Market Share Market Share 12 Source: Internal, AMFI
Slide 13: Liquid AUM & Market Share
Liquid AUM & Market Share Quarterly Average AUM Closing AUM 13.7% 11.6% 12.0% 13.5% 12.7% 12.7% (₹ bn) (₹ bn) YoY (8)% YoY (11)% QoQ 6% QoQ 14% 774 674 715 689 615 540 Jun-23 Mar-24 Jun-24 Jun-23 Mar-24 Jun-24 Market Share Market Share 13 Source: Internal, AMFI
Slide 14: AUM by Segment – HDFC MF & Industry
AUM by Segment – HDFC MF & Industry Quarterly Average AUM Jun-23 Mar-24 Jun-24 HDFC MF Industry HDFC MF Industry HDFC MF Industry Equity-oriented 54.2% 49.2% 63.0% 54.3% 64.3% 55.6% Debt-oriented 26.7% 22.8% 22.3% 18.9% 21.3% 18.2% Liquid 15.9% 13.1% 11.0% 10.8% 10.6% 10.1% Others 3.2% 14.9% 3.7% 16
Slide 15: Individual Investors – Accounts & MAAUM
Individual Investors – Accounts & MAAUM Individual MAAUM (% of Total) Number of Live Individual Accounts (mm) YoY 50% YoY 54% 3,328 4,415 4,997 18.53 70.8% 71.4% 16.25 65.0% 61.1% 12.05 Jun-23 Mar-24 Jun-24 Jun-23 Mar-24 Jun-24 Industry Jun-24 Individual MAAUM (Rs bn) Individual customers prefer equ
Slide 16: Amongst preferred choice of Individual Investors
Amongst preferred choice of Individual Investors Individual Assets Market Share Jun-23 Mar-24 Jun-24 13.1% 13.0% 13.0% 13.3% 13.3% 13.2% 12.9% 12.9% 12.9% 7.2% 6.8% 7.7% 7.9% 6.8% 6.9% MF #1 MF #2 HDFC MF #4 MF #5 HDFC MF #2 MF #3 MF #4 MF #5 HDFC MF #2 MF #3 MF #4 MF #5 MF MF MF 16 Source: AMFI , b
Slide 17: Unique Investors – HDFC AMC vs MF Industry
Unique Investors – HDFC AMC vs MF Industry Unique Investors 18% 22% 23% 46.9 44.6 (mm) 38.3 9.6 10.7 7.1 Jun-23 Mar-24 Jun-24 HDFC Mutual Fund Mutual Fund Industry HDFC MF penetration in Mutual Fund Industry 17 Source: CAMS. Note: Unique Investors as identified by PANs/PEKRNs of all unit holders & G
Slide 18: Systematic Transactions
Systematic Transactions Systematic Transactions(1) (₹ bn) Long Tenure SIP Book(2) 8.76 32.1 88% 81% 29.3 18.9 17.1 1.77 Over 5 Years Over 10 Years 11.8 12.3 11.5 11.3 10.4 SIP AUM(3): ₹ 1,613 bn 6.8 4.9 Strong and stable “Order Book” to provide predictable flows Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Ma
Slide 19: Multi-channel Distribution Network
Multi-channel Distribution Network Total AUM Equity-oriented AUM Jun-2024 Jun-2024 HDFC Bank 6.1% HDFC Bank 7.7% Banks 11.2% Direct Banks 13.4% Direct 25.6% 39.0% MFDs 28.4% MFDs National 36.0% Distributors National Distributors 25.0% 21.4% Mar-2024 Jun-2023 Mar-2024 Jun-2023 HDFC Bank 6.1% HDFC Ban
Slide 20: Geographic Spread
Geographic Spread Total MAAUM1 by T30 and B30 Cities #2 Player in B-30 Markets1 B 30 MF #1 19.4% 20.5% Others 41.2% HDFC MF, 12.2% MF #3 11.2% MF #5 MF #4 5.9% 9.0% T 30 80.6% We serve customers across ~99% of all pincodes in India Network of 255 branches with 175 in B-30 locations(2) 85k+ empaneled
Slide 21: Our Digital Stack
Our Digital Stack Engagement & Investors Partners Support Channels Electronic and Physical Transaction as % of Total Transactions HDFC MFOnline HDFC Mutual Partners Co-browsing Services 8% Fund 18% 19% 10% 31% 24% Partners Portal Callback Services Investor Portal 82% 90% 92% 76% 81% Admin Portal 69%
Slide 22: Embedding ESG Principles
Embedding ESG Principles Inclusive Health & Environment Growth Safety ESG Mission To create sustainable wealth for Human every stakeholder by focusing on Diversity Rights People, Planet and Prosperity Ethics, Well Being Transparency Stakeholders of & Employees Accountability Adopted CFA Institute’s
Slide 23: ESG Highlights
ESG Highlights Restore ~5,000 litres of water holding capacity in a lake for every digitally 950+ 'ESG & CSR' committee 56% registered SIP2 Investor Awareness Programmes under of the Board of Board of Directors are #BarniSeAzadi campaign launched on drives ESG framework Independent 75th Independence
Slide 24: Financials
Financials 24
Slide 25: Financials Summary – Quarterly Earnings
Financials Summary – Quarterly Earnings (` mm) Particulars Q1 FY25 Q1 FY24 Change Income Revenue from Operations 7,752 5,745 35% Other I ncome 1,731 1,580 10% Total Income 9,483 7,325 29% Expenses Finance Costs 23 23 0% Fees and Commission Expenses 9 10 -10% Employee Benefit Expenses # 1,008 838 20%
Slide 26: Financials Summary – Sequential Quarterly Earnings
Financials Summary – Sequential Quarterly Earnings (` mm) Particulars Q1 FY25 Q4 FY24 Change Income Revenue from Operations 7,752 6,955 11% Other Income 1,731 1,555 11% Total Income 9,483 8,510 11% Expenses Finance Costs 23 23 0% Fees and Commission Expenses 9 7 29% Employee Benefit Expenses # 1,008
Slide 27: Operating Profit Margin
Operating Profit Margin Operating Revenue Operating Expenses Operating Margin (bps of AAUM) 48 49 47 46 13 14 12 12 35 35 35 34 YE FY22 YE FY23 YE FY24 3M FY25 ____________________ Based on internal computations 27
Slide 28: Statement of Assets and Liabilities
Statement of Assets and Liabilities (` m m ) As at Jun 30, As at Mar 31, Particulars 2024 2024 Assets Financial As s ets 65,637 73,290 Non Financial As s ets 2,291 2,286 Total Assets 67,928 75,576 Liabilities And Equity Liabilities Financial Liabilities 2,026 2,456 Non Financial Liabilities 3,823 2,
Slide 29: Breakup of Total Investments
Breakup of Total Investments Total Investments: ₹ 64,242 million Breakdown of Mutual Fund Breakdown of Total Investments Investments Equity, 9.8% Arbitrage, 5.6% Subsidiary, 0.5% Debentures & Tax Free Bonds, 4.2% Other Equity, Mutual Funds, AIFs, etc, 3.6% 91.7% Liquid and Debt, 84.6% Mutual Funds O
Slide 30: Return On Equity and Dividend Per Share
Return On Equity and Dividend Per Share Return on Equity(1) FY 20 FY 21 FY 22 FY 23 FY 24 35.6% 30.1% 27.0% 24.5% 29.5% Dividend Per Share (₹) (2) and Dividend Payout Ratio 77% 47% 55% 64% 72% 70 42 48 28 34 FY20 FY21 FY22 FY23 FY24 Dividend per share Payout ratio ____________________ (1) Calculated
Slide 31: Notes
NOTES A Wholly Owned Subs idiary ('WOS') of the Company namely 'HDFC AMC International (IFSC) Limited', located in Gujarat International Finance Tec-City (GIFT City) had been incorporated effective May 27, 2022. The Company has dis clos ed extract of only s tandalone Financial Res ults in this inves
Slide 32: Thank you
Thank you
Slide 33: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer or invitation to sell or the recommendation or solicitation of an offer or invitation to purchase any securities (“Securities”) of HDFC Asset Management Company Limited (the “Company”) in India, the United
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