Icici Prudential Asset Management Company Ltd. · NSE:ICICIAMC
Icici Prudential Asset Management — Q3 FY2026 Earnings Presentation
36 slides from Icici Prudential Asset Management's earnings presentation, Jan 14, 2026
Slide 1: Cover letter to stock exchanges
IPAMC/SE/08/25-26 January 14, 2026 To, To, BSE Limited, National Stock Exchange of India Ltd., Listing Department, Listing Department, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, Mumbai – 400001 G block, Bandra Kurla Complex, Scrip code: 544658 Bandra (East), Mu
Slide 2: Q3 - 2026: Performance Review
Q3 - 2026: Performance Review January 14, 2026
Slide 3: Safe Harbor
Safe Harbor Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will' , 'would' , ‘indicating’ , ‘expected to’ etc., and similar expressions or variations of such expressions may constitute 'forward looking statements'. These for
Slide 4: Our Core Business Philosophies
Our Core Business Philosophies Customer First Philosophy Low Risk for Brand and Shareholder Profitable Growth 3
Slide 5: ICICI Prudential AMC at a Glance
ICICI Prudential AMC at a Glance Total MF QAAUM and MS 6.1% ` 10,763.80 bn 13.3% Active MF QAAUM and MS 5.2% ` 9,088.89 bn 13.5% Equity Schemes MF QAAUM and MS 7.3% ` 6,081.44 bn 13.8% Equity Hybrid MF QAAUM and MS 9.0% ` 2,084.11 bn 26.3% Alternates and PMS QAAUM 3.2% / 7.5% ` 752.76 bn ` 272.81 bn
Slide 6: ICICI Prudential AMC at a Glance
ICICI Prudential AMC at a Glance Operating Revenue Operating Profit3 PAT and ROE Operations Operating Revenue Operating Profit PAT Customer Base Q3FY26 - ` 15.15 bn Q3FY26 - ` 11.10 bn Q3FY26 - ` 9.17 bn Q3FY26 – 16.2 mn Q-o-Q 7% Q-o-Q 9% Q-o-Q 10% Q-o-Q 4.0 % Revenue Yield1 OPBT Yield1 ROE1 Network
Slide 7: Highlights
Highlights • Industry Overview Customer first • ICICI Prudential AMC philosophy • Financial Overview Profitable Growth Low Risk for Brand and shareholder
Slide 8: MF Industry AUM Growth
MF Industry AUM Growth (` tn) Quarterly Average AUM Closing AUM 55% 54% 54% 57% 56% 56% 81.01 80.23 77.14 75.61 68.62 13.52 66.93 14.20 12.35 12.65 11.00 6.90 5.83 6.87 10.85 5.58 3.23 2.78 6.53 3.06 2.64 5.39 2.36 13.38 1.96 12.78 13.07 12.72 11.05 10.80 41.79 43.99 42.02 44.64 37.68 37.93 Dec-24 S
Slide 9: Net Sales Equity Schemes
Net Sales Equity Schemes Net Sales Net Sales for the Quarter (` bn) (` bn) 1,396.82 1,413.33 3,822.18 3,354.68 1,118.67 9M FY25 9M FY26 Equity schemes Q3 FY25 Q2 FY26 Q3 FY26 Source: AMFI 8
Slide 10: Growing Investor Base and SIP Flows
Growing Investor Base and SIP Flows Unique Investors SIP Flows (in mn) (` bn) 59.0 310.02 57.0 293.61 52.6 264.59 Dec'24 Sep'25 Dec'25 Dec'24 Sep'25 Dec'25 Y-o-Y 12.1 % Q-o-Q 3.4 % Y-o-Y 17.2 % Q-o-Q 5.6 % Source: AMFI 9
Slide 11: Highlights
Highlights • Industry Overview Customer first • ICICI Prudential AMC philosophy • Financial Overview Profitable Growth Low Risk for Brand and shareholder
Slide 12: ICICI Pru – QAAUM Split
ICICI Pru – QAAUM Split 11.52 (` tn) 10.88 0.32 0.32 0.64 9.41 0.66 0.75 0.73 0.25 0.65 1.67 Arbitrage 1.51 0.67 Liquid Y-o-Y 22.4 % Alternates 1.20 2.04 1.99 Passives 1.72 Q-o-Q 5.9% Debt Equity Schemes 5.67 6.08 4.92 Dec-24 Sep-25 Dec-25 Source: Internal; growth % are for total QAAUM 11
Slide 13: Mutual Fund QAAUM
Mutual Fund QAAUM Total MF QAAUM Active MF QAAUM (` bn) (` bn) 10,147.58 10,763.80 9,088.89 8,635.67 8,739.58 7,537.64 Dec-24 Sep-25 Dec-25 Dec-24 Sep-25 Dec-25 Y-o-Y 23.2 % Q-o-Q 6.1% Y-o-Y 20.6 % Q-o-Q 5.2 % 2nd Highest Market Share of 13.3% Highest Market Share 13.5% Source: AMFI, Internal; Marke
Slide 14: MF Equity Schemes QAAUM
MF Equity Schemes QAAUM MF Equity Schemes QAAUM Equity Hybrid MF QAAUM (` bn) (` bn) 6,081.44 2,084.11 5,666.30 1,912.29 4,920.63 1,643.21 Dec-24 Sep-25 Dec-25 Dec-24 Sep-25 Dec-25 Y-o-Y 23.6 % Q-o-Q 7.3 % Y-o-Y 26.8 % Q-o-Q 9.0 % Highest Market Share of 13.8% Highest Market Share of 26.3% Source: A
Slide 15: Other Categories MF QAAUM
Other Categories MF QAAUM Debt MF QAAUM Liquid MF QAAUM Passive MF QAAUM (` bn) (₹ bn) (₹ bn) 1,674.91 1,511.91 1,991.44 2,044.84 650.01 659.69 639.18 1,201.94 1,719.85 Dec-24 Sep-25 Dec-25 Dec-24 Sep-25 Dec-25 Dec-24 Sep-25 Dec-25 Y-o-Y 18.9 % Q-o-Q 2.7 % Y-o-Y -1.7% Q-o-Q -3.1% Y-o-Y 39.4 % Q-o-Q
Slide 16: Unique Customer and MAAUM
Unique Customer and MAAUM Unique Customer Count Individual MAAUM* (in mn) (₹ bn) 16.2 8,000 7,030.54 6,610.32 15.5 7,000 6,000 5,759.09 5,000 14.3 4,000 3,000 2,000 1,000 - Dec'24 Sep'25 Dec'25 Dec'24 Sep'25 Dec'25 Y-o-Y 12.8 % Q-o-Q 4.0 % Y-o-Y 22.1 % Q-o-Q 6.4 % Source : AMFI, Internal; * Includes
Slide 17: Systematic Transactions
Systematic Transactions (₹ bn) 50.37 48.03 42.47 39.06 33.59 23.47 Mar'23 Mar'24 Dec'24 Mar'25 Sep'25 Dec'25 Systematic Transactions represents monthly inflows from Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) for mutual fund and PMS business; Source : Internal data 16
Slide 18: Alternates - Boutique within an Institution
Alternates - Boutique within an Institution DISTRIBUTION MANAGEMENT COMPLIANCE RESEARCH INVESTOR / BOUTIQUE SALES & RISK & DISTRIBUTOR PRODUCTS FUND High Conviction Portfolios 17
Slide 19: Alternates Offerings
Alternates Offerings PMS and AIF Offering PMS and AIF QAAUM Growth PMS (₹ bn) 272.81 253.64 222.48 Listed equity Private Credit Real Estate Dec 24 Sep 25 Dec 25 Assets under Advisory QAAUM Dec 25 ₹ 320.86 bn AIF (₹ bn) Proposed Acquisition 146.51 159.09 ICICI Venture(1) 113.63 Private equity Venture
Slide 20: Distribution Network
Distribution Network MF Equity Schemes QAAUM Distribution Mix ICICI Bank, 8.1% Direct, 28.0% Banks, 11.1% 75.2% 72.9% 72.0% MFDs, 24.8% 27.1% 28.0% National 37.3% Distributors, 15.5% Dec 24 Sep 25 Dec 25 Direct Non-Direct 19 Source : Internal; Basis QAAUM; Data is as of 31st December 2025
Slide 21: IT plays a key role in Operations, Risk management & Investor Services
IT plays a key role in Operations, Risk management & Investor Services Data Engineering & Cybersecurity Tech Support Infrastructure & Data Software Architecture Development 20
Slide 22: Our Digital Stack
Our Digital Stack AI-Lead MF Portal MF App MF Portal MF App Help Desk Search Alternates Alternates Co- Callback Goal ETF Portal Portal Branding Service Planner Portal OTHER TOOLS PARTNERS INVESTOR Corporate Customer IpruAssist iSIF Portal iSIF Portal MF Connect Employee Bot Portal Data Platform Mark
Slide 23: Recent Developments
Recent Developments DIFC GIFT City IFSC iSIF • Established presence in • Established retail FME1 • Approval received from DIFC, Dubai, UAE branch presence in GIFT SEBI under the brand City name iSIF • To serve the investment needs of non-resident • This expansion will • Launching 2 iSIF Indians and
Slide 24: Highlights
Highlights • Industry Overview Customer first • ICICI Prudential AMC philosophy • Financial Overview Profitable Growth Low Risk for Brand and shareholder
Slide 25: Statement of Profit and Loss (9M FY26)
Statement of Profit and Loss ` mn Particulars 9M FY 26 9M FY 25 Change Income Revenue From Operations 42,476.2 34,135.9 24.4% Other Income 3,255.7 2,459.4 32.4% Total Income 45,731.9 36,595.3 25.0% Expenses Finance Cost 131.8 136.6 -3.5% Fees and commission expense 3,077.2 2,367.2 30.0% Employee Ben
Slide 26: Statement of Profit and Loss (Q3 FY26 vs Q3 FY25)
Statement of Profit and Loss ` mn Particulars Q3 FY 26 Q3 FY 25 Change Income Revenue From Operations 15,146.7 12,266.6 23.5% Other Income 1,089.1 (253.6) Total Income 16,235.8 12,013.0 35.2% Expenses Finance Cost 44.6 48.8 -8.6% Fees and commission expense 1,085.1 940.4 15.4% Employee Benefits expe
Slide 27: Statement of Profit and Loss (Q3 FY26 vs Q2 FY26)
Statement of Profit and Loss ` mn Particulars Q3 FY 26 Q2 FY 26 Change Income Revenue From Operations 15,146.7 14,196.3 6.7% Other Income 1,089.1 717.5 51.8% Total Income 16,235.8 14,913.8 8.9% Expenses Finance Cost 44.6 35.7 25.0% Fees and commission expense 1,085.1 999.4 8.6% Employee Benefits exp
Slide 28: Breakup of Total Investments
Breakup of Total Investments Total Investments: ₹ 40,346.3 million Breakdown of Total Investments Breakdown of Mutual Funds 85.8% 0.5% 14.2% Mutual Funds 36.70% AIF, Other Equity and REIT 62.80% 85.8% Equity & Hybrid Liquid & Debt Others Data as of 31st December, 2025 27
Slide 29: Operating Margin & Revenue Yields
Operating Margin & Revenue Yields Bridging Operating Revenue to Operating Margin Operating Margin 9M FY26 bps of AUM bps of AUM 52 48 36 -4 36 36 37 37 -11 14 14 12 11 50 50 48 48 FY23 FY24 FY25 9M FY26 Fees and Operating Expenses Net Operating Revenue Yield Operating Expenses Commission Operating M
Slide 30: Return on Equity and Dividend Per Share
Return on Equity and Dividend Per Share Year FY 23 FY 24 FY 25 9M FY 26 Return on 70.0% 78.9% 82.8% 87.9% Equity 84% 76% 81% 81% Dividend Payout Ratio 43.6 41.6 31.5 25.9 FY 23 FY 24 FY 25 9M FY26 (2) Dividend per share (1) (1) Dividend per share for the all periods have been adjusted for bonus issu
Slide 31: Thank You
ASSET MANAGEMENT Thank You
Slide 32: Key Performance Indicators (KPI)
Key Performance Indicators (KPI) Particulars Unit 9M FY 25 H1 FY26 9M FY 26 Operational KPIs Total MF QAAUM ₹ bn 8,739.6 10,147.6 10,763.8 Active MF QAAUM ₹ bn 7,537.6 8,635.7 9,088.9 MF Equity Schemes QAAUM ₹ bn 4,920.6 5,666.3 6,081.4 MF Equity Hybrid QAAUM ₹ bn 1,643.2 1,912.3 2,084.1 MF Individu
Slide 33: Definitions & Glossary
Definitions & Glossary AAUM MF – daily average AUM for relevant period, Alternates - Average of monthly closing AUM for relevant period. Alternates Alternates business comprises PMS, AIF and assets under advisory Equity Hybrid Schemes Equity Hybrid Schemes are mutual fund schemes comprising Hybrid S
Slide 34: Press release: financial performance for quarter ended December 31, 2025
Mumbai, January 14, 2026: ICICI Prudential Asset Management Company Limited today reported its financial performance for the quarter ended December 31, 2025. ICICI Prudential AMC’s Operating Profit Before Tax for the nine-month period ended December 31, 2025 at ₹30.43 billion, an increase of 28.4% o
Slide 35: Financial highlights for nine months and quarter ended December 31, 2025
FINANCIAL HIGHLIGHTS FOR THE NINE MONTH PERIOD ENDED DECEMBER 31, 2025 • The Operating Profit before tax of the company for the nine months ended December 31, 2025 was ` 30,427.0 million as compared to ₹23,702.5 million for the nine months ended December 31, 2024. • Profit before tax for the nine mo
Slide 36: About ICICI Prudential AMC
About ICICI Prudential AMC Incorporated in 1993, ICICI Prudential Asset Management Company Ltd. is a leading asset management company (AMC) in the country. The Company is involved in (i) managing mutual funds, (ii) providing portfolio management services, (iii) managing alternative investment funds,
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