Hdfc Asset Management Co. Ltd. · NSE:HDFCAMC
Hdfc Asset Management — Q3 FY25 Earnings Presentation
34 slides from Hdfc Asset Management's earnings presentation, January 2025
Slide 1: Q3 FY25 Earnings Presentation
Q3 FY25 Earnings Presentation (For the Quarter ended December 31,2024)
Slide 2: HDFC AMC at a Glance
HDFC AMC at a Glance AUM Financials ₹7,764 bn ₹5,125 bn ₹50 bn ₹10,271 mm ₹6,415 mm 37 bps Closing AUM1 Equity-Oriented Closing AUM1 Alternatives AUM3 Operating Margin Total Income PAT (Q3FY25) (Q3FY25) (Q3FY25) ₹7,874 bn ₹5,111 bn QAAUM2 Equity-Oriented QAAUM2 Customer base ₹4,782 bn ₹1,588 bn ₹843
Slide 3: Industry
Industry 3
Slide 4: Industry – AUM and Net Sales
Industry – AUM and Net Sales Quarterly Average AUM (QAAUM) Closing AUM 53% 57% 57% 55% 59% 59% 66.2 68.6 67.1 66.9 10.9 10.7 10.3 10.7 50.8 49.2 6.5 5.1 5.4 6.2 AUM (₹ trn) 7.7 11.5 12.1 8.1 11.5 11.9 5.4 4.5 10.2 10.0 37.8 39.1 39.9 39.3 25.9 28.2 Dec-23 Sep-24 Dec-24 Dec-23 Sep-24 Dec-24 Dec-23 to
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 60% 62% 61% 18% 19% 19% 223.7 209.3 68.0 69.3 68.0 69.3 163.9 12.8 12.6 25.9 26.7 51.1 51.1 MAAUM (₹ trn) MAAUM (₹ trn) 9.1 20.4 55.4 56.5 42.1 42.6 42.0 30.7 Dec-23 Sep-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 81% 84% 84% 91% 90% 90% 27% 27% 28% 42.1 42.6 39.2 39.6 39.6 6.8 39.2 6.7 3.8 3.8 30.7 10.9 10.7 27.4 MAAUM (₹ trn) MAAUM (₹ trn) MAAUM (₹ trn) 5.9 27.4 2.6 7.4
Slide 7: Industry - SIP Flows & AUM
Industry - SIP Flows & AUM SIP Flows SIP AUM 76.4 98.7 103.2 265 245 13.8 13.6 176 10.0 SIP contribution (₹ bn) SIP AUM (₹ tn) Dec-23 Sep-24 Dec-24 Dec-23 Sep-24 Dec-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 11.2% 11.5% 11.5% 11.3% 11.5% 11.6% YoY 43% (₹ bn) (₹ bn) YoY 35% QoQ 4% QoQ 1% 7,588 7,874 7,686 7,764 5,515 5,750 Dec-23 Sep-24 Dec-24 Dec-23 Sep-24 Dec-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 12.5% 12.8% 12.8% 12.7% 12.9% 12.9% (₹ bn) (₹ bn) YoY 43% YoY 35% QoQ 4% QoQ 1% 7,451 7,721 7,538 7,608 5,413 5,640 Dec-23 Sep-24 Dec-24 Dec-23 Sep-24 Dec-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 12.6% 12.9% 12.8% 12.7% 12.7% 12.7% (₹ bn) (₹ bn) YoY 51% YoY 38% QoQ 2% QoQ (2%) 4,676 4,782 4,873 4,794 3,166 3,466 Dec-23 Sep-24 Dec-24 Dec-23 Sep-24 Dec-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% 13.5% 13.2% 13.4% 13.4% 13.2% (₹ bn) (₹ bn) YoY 17% YoY 17% QoQ 3% QoQ 2% 1,549 1,588 1,535 1,565 1,353 1,340 Dec-23 Sep-24 Dec-24 Dec-23 Sep-24 Dec-24 Market Share Market Share 12 Source: Internal, AMFI
Slide 13: Liquid AUM & Market Share
Liquid AUM & Market Share Quarterly Average AUM Closing AUM 11.5% 12.1% 12.9% 12.1% 13.0% 14.2% (₹ bn) (₹ bn) YoY 35% YoY 40% QoQ 12% QoQ 16% 843 754 767 625 659 550 Dec-23 Sep-24 Dec-24 Dec-23 Sep-24 Dec-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 Dec-23 Sep-24 Dec-24 HDFC MF Industry HDFC MF Industry HDFC MF Industry Equity-oriented 60.6% 52.5% 65.7% 57.1% 64.9% 57.0% Debt-oriented 24.5% 20.8% 20.4% 17.4% 20.2% 17.6% Liquid 11.3% 11.1% 9.9% 9.4% 10.7% 9.5% Others 3.5% 15.6% 4.0% 16.1%
Slide 15: Individual Investors – Accounts & MAAUM
Individual Investors – Accounts & MAAUM Individual MAAUM (% of Total) Number of Live Individual Accounts (mm) YoY 38% YoY 49% 4,070 5,554 5,599 70.9% 71.4% 70.2% 22.04 20.64 61.4% 14.75 Dec-23 Sep-24 Dec-24 Dec-23 Sep-24 Dec-24 Industry Dec-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 Dec-23 Sep-24 Dec-24 13.3% 13.0% 12.8% 13.2% 12.9% 12.7% 13.2% 12.8% 12.6% 7.7% 8.1% 8.1% 6.9% 6.8% 6.8% HDFC MF #2 MF #3 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 21% 24% 24% 52.6 50.1 (mm) 42.0 11.8 12.6 8.7 Dec-23 Sep-24 Dec-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 &
Slide 18: Systematic Transactions
Systematic Transactions Systematic Transactions(1) (₹ bn) 11.00 SIP AUM(2): ₹ 1,777 bn 38.2 36.8 29.3 26.3 1.77 17.1 11.5 11.8 12.3 11.3 10.4 6.8 4.9 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Dec-23 Mar-24 Sep-24 Dec-24 #mm systematic transactions Source: Internal (1) Systematic transa
Slide 19: Multi-channel Distribution Network
Multi-channel Distribution Network Total AUM Equity-oriented AUM Dec-2024 Dec-2024 HDFC Bank 5.7% HDFC Bank 7.5% Banks 10.6% Direct Banks 13.1% Direct 27.0% 41.4% MFDs 26.6% MFDs 34.4% National Distributors National Distributors 25.4% 21.3% Sep-2024 Dec-2023 Sep-2024 Dec-2023 HDFC Bank 6.0% 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 19.3% 19.9% Others 42.3% HDFC MF, 12.0% MF #3 11.1% MF #5 MF #4 T 30 5.5% 9.2% 80.7% Added We serve customers across ~99% of all pincodes in India 25 new offices on 2nd January 2025 Network of 280 Offices with
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 Fund Co-browsing Services 10% 5% 18% 24% 19% 31% Partners Portal Callback Services Investor Portal 90% 95% 82% 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 41,500+ Ethics workshops 1,58,000+ Employee training for employees Individuals have completed the course organized under 'ESG & CSR' committee 56% hours1 ‘SIP Saheli’ - Investor Education and Awareness initiative to of the Board of Board of Directors are provide structured masterclass
Slide 24: Financials
Financials 24
Slide 25: Financials Summary – Nine Months Earnings
Financials Summary – Nine Months Earnings (₹ mm) Particulars 9ME FY25 9ME FY24 Change Income Revenue from Operations 25,968 18,889 37% Other Income 4,365 4,226 3% Total Income 30,333 23,115 31% Expenses Finance Costs 68 68 0% Fees and Commission Expenses 29 18 61% # Employee Benefit Expenses 2,914 2
Slide 26: Financials Summary – Quarterly Earnings
Financials Summary – Quarterly Earnings (₹ mm) Particulars Q3 FY25 Q3 FY24 Change Income Revenue from Operations 9,343 6,713 39% Other Income 928 1,424 -35% Total Income 10,271 8,137 26% Expenses Finance Costs 22 22 0% Fees and Commission Expenses 11 4 175% # Employee Benefit Expenses 949 903 5% Dep
Slide 27: Financials Summary – Sequential Quarterly Earnings
Financials Summary – Sequential Quarterly Earnings (₹ mm) Particulars Q3 FY25 Q2 FY25 Change Income Revenue from Operations 9,343 8,873 5% Other Income 928 1,706 -46% Total Income 10,271 10,579 -3% Expenses Finance Costs 22 23 -4% Fees and Commission Expenses 11 9 22% # Employee Benefit Expenses 949
Slide 28: Operating Profit Margin
Operating Profit Margin Operating Revenue Operating Expenses Operating Margin (bps of AAUM) 48 49 47 46 13 14 12 10 35 35 35 36 YE FY22 YE FY23 YE FY24 9ME FY25 Operating margin (bps of AAUM) for Q1 FY 25, Q2 FY 25 and Q3 FY 25 are 34, 36 and 37 respectively ____________________ Based on internal co
Slide 29: Statement of Assets and Liabilities
Statement of Assets and Liabilities ( ₹ mm) As at Dec 31, As at Mar 31, Particulars 2024 2024 Assets Fi na nci a l As s e ts 78,045 73,290 Non Fi na nci a l As s e ts 2,312 2,286 Total Assets 80,357 75,576 Liabilities And Equity Liabilities Fi na nci a l Li a bi l i ti e s 2,479 2,456 Non Fi na nci
Slide 30: Breakup of Total Investments
Breakup of Total Investments Total Investments: ₹ 76,167 million Breakdown of Total Investments Breakdown of Mutual Fund Investments Equity, 8.7% Arbitrage, 9.2% Subsidiary, 0.4% Debentures & Tax Free Bonds, 3.5% Other Equity, AIFs, Mutual Funds, etc, 4.7% 91.4% Liquid and Debt, 82.1% Mutual Funds O
Slide 31: 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 32: NOTES
NOTES 1. A Wholly Owned Subsidiary ('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 disclosed extract of only standalone Financial Results in this investo
Slide 33: Thank you
Thank you
Slide 34: 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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