Hdfc Asset Management Co. Ltd. · NSE:HDFCAMC
Hdfc Asset Management — Q2 FY25 Earnings Presentation
34 slides from Hdfc Asset Management's earnings presentation, Sep 30, 2024
Slide 1: Q2 FY25 Earnings Presentation
Q2 FY25 Earnings Presentation (For the Quarter ended September 30, 2024)
Slide 2: HDFC AMC at a Glance
HDFC AMC at a Glance AUM Financials ₹7,686 bn ₹5,205 bn ₹47 bn ₹10,579 mm ₹5,769 mm 36 bps Closing AUM1 Equity-Oriented Closing AUM1 Alternatives AUM3 Total Income Operating Margin PAT (Q2FY25) (Q2FY25) (Q2FY25) ₹7,588 bn ₹4,985 bn QAAUM2 Equity-Oriented QAAUM2 Customer base ₹4,676 bn ₹1,549 bn ₹754
Slide 3: Industry
Industry 3
Slide 4: Industry – AUM and Net Sales
Industry – AUM and Net Sales Quarterly Average AUM (QAAUM) Closing AUM 51% 56% 57% 53% 58% 59% 66.2 67.1 59.0 61.2 10.7 10.7 47.0 9.6 6.2 46.6 9.8 5.1 AUM (₹ trn) 5.9 4.9 11.5 7.1 11.5 7.2 10.9 5.8 10.7 4.6 10.3 10.1 37.8 35.6 39.9 32.8 24.8 23.8 Sep-23 Jun-24 Sep-24 Sep-23 Jun-24 Sep-24 Sep-23 to S
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 59% 61% 62% 18% 18% 19% 209.3 189.9 68.0 68.0 156.2 61.3 61.3 12.6 25.9 11.1 47.8 47.8 23.9 MAAUM (₹ trn) MAAUM (₹ trn) 8.4 19.7 55.4 50.2 42.1 39.4 37.5 28.1 Sep-23 Jun-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 79% 83% 84% 91% 91% 90% 27% 27% 27% 42.1 39.2 39.2 37.5 6.7 34.4 3.8 34.4 6.3 3.3 10.7 28.1 9.3 MAAUM (₹ trn) MAAUM (₹ trn) MAAUM (₹ trn) 24.7 24.7 5.8 2.3 6.7
Slide 7: Industry - SIP Flows & AUM
Industry - SIP Flows & AUM SIP Flows SIP AUM 71.3 89.9 98.7 245 213 13.8 12.4 160 SIP contribution (₹ bn) 8.7 SIP AUM (₹ tn) Sep-23 Jun-24 Sep-24 Sep-23 Jun-24 Sep-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% 11.4% 11.5% 11.2% 11.5% 11.5% YoY 45% (₹ bn) (₹ bn) YoY 47% QoQ 13% QoQ 9% 7,588 7,686 6,716 7,056 5,247 5,229 Sep-23 Jun-24 Sep-24 Sep-23 Jun-24 Sep-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% 12.6% 13.0% 12.9% (₹ bn) (₹ bn) YoY 45% YoY 47% QoQ 13% QoQ 9% 7,451 7,538 6,593 6,926 5,150 5,132 Sep-23 Jun-24 Sep-24 Sep-23 Jun-24 Sep-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 12.4% 12.9% 12.9% 12.5% 13.0% 12.7% (₹ bn) (₹ bn) YoY 63% YoY 62% QoQ 15% QoQ 10% 4,676 4,873 4,072 4,438 2,861 3,002 Sep-23 Jun-24 Sep-24 Sep-23 Jun-24 Sep-24 Market Share Market Share 11 Source: Internal, AMFI
Slide 12: Debt AUM & Market Share
Debt AUM & Market Share Quarterly Average AUM Closing AUM 13.3% 13.3% 13.5% 13.3% 13.5% 13.4% (₹ bn) (₹ bn) YoY 13% YoY 15% QoQ 9% QoQ 5% 1,549 1,468 1,535 1,369 1,427 1,338 Sep-23 Jun-24 Sep-24 Sep-23 Jun-24 Sep-24 Market Share Market Share 12 Source: Internal, AMFI
Slide 13: Liquid AUM & Market Share
Liquid AUM & Market Share Quarterly Average AUM Closing AUM 11.8% 12.0% 12.1% 12.1% 12.7% 13.0% (₹ bn) (₹ bn) YoY 10% YoY 18% QoQ 5% QoQ 7% 715 754 659 686 615 557 Sep-23 Jun-24 Sep-24 Sep-23 Jun-24 Sep-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 Sep-23 Jun-24 Sep-24 HDFC MF Industry HDFC MF Industry HDFC MF Industry Equity-oriented 57.6% 50.6% 64.3% 55.6% 65.7% 57.1% Debt-oriented 26.1% 21.9% 21.3% 18.2% 20.4% 17.4% Liquid 13.1% 12.3% 10.6% 10.1% 9.9% 9.4% Others 3.2% 15.1% 3.8% 16.2
Slide 15: Individual Investors – Accounts & MAAUM
Individual Investors – Accounts & MAAUM Individual MAAUM (% of Total) Number of Live Individual Accounts (mm) YoY 51% YoY 53% 3,680 4,997 5,554 20.64 18.53 71.4% 71.4% 69.0% 61.9% 13.47 Sep-23 Jun-24 Sep-24 Sep-23 Jun-24 Sep-24 Industry Sep-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 Sep-23 Jun-24 Sep-24 13.1% 13.1% 13.0% 13.2% 13.3% 12.9% 12.9% 12.9% 12.7% 7.5% 6.8% 7.9% 8.1% 6.9% 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 20% 23% 24% 50.1 (mm) 46.9 40.4 10.7 11.8 7.9 Sep-23 Jun-24 Sep-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) Long Tenure SIP Book(2) 10.31 36.8 89% 82% 32.1 29.3 22.4 1.77 17.1 Over 5 Years Over 10 Years 11.5 11.8 12.3 SIP AUM(3): ₹ 1,786 bn 11.3 10.4 6.8 4.9 Strong and stable “Order Book” to provide predictable flows Mar-16 Mar-17 Mar-18 Mar-19 Mar
Slide 19: Multi-channel Distribution Network
Multi-channel Distribution Network Total AUM Equity-oriented AUM Sep-2024 Sep-2024 HDFC Bank 6.0% HDFC Bank 7.6% Banks 11.1% Direct Banks 13.3% Direct 26.5% 39.8% MFDs 27.8% MFDs National 35.1% Distributors National Distributors 25.0% 21.3% Jun-2024 Sep-2023 Jun-2024 Sep-2023 HDFC Bank 5.9% 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 19.5% 20.3% Others 41.5% HDFC MF, 12.1% MF #3 11.3% MF #5 MF #4 T 30 5.7% 9.1% 80.5% We serve customers across ~99% of all pincodes in India Network of 255 branches with 175 in B-30 locations(2) 90k+ 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 Fund Co-browsing Services 10% 7% 18% 24% 19% 31% Partners Portal Callback Services Investor Portal 90% 93% 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 24,700+ Ethics workshops 26,000+ 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 o
Slide 24: Financials
Financials 24
Slide 25: Financials Summary – Half Yearly Earnings
Financials Summary – Half Yearly Earnings (₹ mm) Particulars HYE FY25 HYE FY24 Change Income Revenue from Operations 16,625 12,176 37% Other Income 3,437 2,802 23% Total Income 20,062 14,978 34% Expenses Finance Costs 46 46 0% Fees and Commission Expenses 18 14 29% # Employee Benefit Expenses 1,965
Slide 26: Financials Summary – Quarterly Earnings
Financials Summary – Quarterly Earnings (₹ mm) Particulars Q2 FY25 Q2 FY24 Change Income Revenue from Operations 8,873 6,431 38% Other Income 1,706 1,222 40% Total Income 10,579 7,653 38% Expenses Finance Costs 23 23 0% Fees and Commission Expenses 9 4 125% # Employee Benefit Expenses 957 929 3% Dep
Slide 27: Financials Summary – Sequential Quarterly Earnings
Financials Summary – Sequential Quarterly Earnings (₹ mm) Particulars Q2 FY25 Q1 FY25 Change Income Revenue from Operations 8,873 7,752 14% Other Income 1,706 1,731 -1% Total Income 10,579 9,483 12% Expenses Finance Costs 23 23 0% Fees and Commission Expenses 9 9 0% # Employee Benefit Expenses 957 1
Slide 28: Operating Profit Margin
Operating Profit Margin Operating Revenue Operating Expenses Operating Margin (bps of AAUM) 48 49 47 46 13 14 12 11 35 35 35 35 YE FY22 YE FY23 YE FY24 HYE FY25 Operating margin (bps of AAUM) for Q1 FY 25 and Q2 FY 25 are 34 and 36 respectively ____________________ Based on internal computations 28
Slide 29: Statement of Assets and Liabilities
Statement of Assets and Liabilities ( ₹ mm) As at Sep 30, As at Mar 31, Particulars 2024 2024 Assets Fi na nci a l As s e ts 71,074 73,290 Non Fi na nci a l As s e ts 2,261 2,286 Total Assets 73,335 75,576 Liabilities And Equity Liabilities Fi na nci a l Li a bi l i ti e s 2,256 2,456 Non Fi na nci
Slide 30: Breakup of Total Investments
Breakup of Total Investments Total Investments: ₹ 69,429 million Breakdown of Total Investments Breakdown of Mutual Fund Investments Equity, 9.8% Arbitrage, 6.9% Subsidiary, 0.5% Debentures & Tax Free Bonds, 3.9% Other Equity, AIFs, Mutual Funds, etc, 4.3% 91.3% Liquid and Debt, 83.3% 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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