Aditya Birla Sun Life Amc Ltd — Q4 FY26
Aditya Birla Sun Life AMC reported Q4 FY26 revenue of ₹458 crore (+6.8% YoY), but EBITDA fell to ₹222 crore (-4.7% YoY) and PAT dropped to ₹181 crore (-20.6% YoY) due to mark-to...
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Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
50%Questions answered5Evaded / deflected12Questions audited
Evasive
High priority
Regulatory impact on equity and mitigation plan.
Asked by Mohit Mangal, Centrum Broking
Management gave a range but did not quantify net impact or specific mitigation steps.
no quantified impactvague about mitigationno specific numbers
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Question
from the 1st of April we see that there will be a five basis impact on the equity. So how do you intend to mitigate the impact and what would be the net impact on our books?
Management (not named)
the broad impact generally post the regulator changes is in the range of about 3 to four basis points roughly. But however given the fact that the way the industry has been operating... we will try and do the structures in such a manner that it does have least impact as far as the P&L concerns
Evasive
Medium priority
Flow market share vs book market share this quarter.
Asked by Mohit Mangal, Centrum Broking
Management did not provide any specific market share numbers, just said 'in line'.
no specific numbersvaguerepeated phrase
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Question
how has the flow market share versus the book market share this quarter
Management (not named)
in line with the in line with the market only. So in terms of market share you saying? ... It's in line with our market. In line with the market share.
Answered
High priority
AUM, ETF AUM, PMS and alternate revenue for Q4 FY26.
Asked by Mohit Mangal, Centrum Broking
Management provided specific numbers for ETF AUM, SIP book, and revenue share.
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Question
what is the AUM? ... quantify the ETF AUM ... PMS and revenue for finance 26 and Q4 finance 26.
Management (not named)
ETF equity rather than out of 41 crores roughly 500 crores is the ETF which includes gold and silver rough roughly about 11500 crores ... SIP book is about 76 crores ... revenue share from PMS and alternate is around 6% on gross basis and on net basis it be around 3 and a half%.
Evasive
High priority
Active equity flows QoQ and YoY for entire equity basket.
Asked by Panjan Kosh, City Group
Management discussed product-wise flows but did not give aggregate QoQ or YoY numbers.
no specific numbersqualitative onlyno QoQ or YoY figures
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Question
if I look at the overall active equities as a cohort for you and look at let's say 4Q versus 3Q or 4Q versus last year 4Q how the quarteron quarter and YI look like for the entire equity basket as a whole.
Management (not named)
As far as the flow is concerned ... we have seen good pick up in the first half of this year in terms of our arbitrage fund and then we started seeing pick up coming in flexi cap fund multi allocation fund ... we continue to see inflows
Partial answer
Medium priority
Employee expense growth outlook for next 1-2 years.
Asked by Panjan Kosh, City Group
Management gave a specific number for next year but not for 1-2 years as asked.
only next year quantifiedno long-term view
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Question
when I look at the employee expense growth, how should one think of let's say for the next one or two years in terms of the growth?
Management (not named)
there would be an impact of around around 8 to 10 crores per quarter in in next year. Next year. ... from a team point of view we are more or less there ... there will be marginal increase not not big time increase
Answered
High priority
SIP flows for the quarter, ESOP expense, employee count.
Asked by Panjan Kosh, City Group
Management provided specific numbers for SIP flows and employee count.
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Question
SIP flows for the quarter. The second is ESOP expense for the quarter and year. And third is the number of employees outstanding as of March 31st.
Management (not named)
SIP flows are the 1,24 cl ... 1,28 crores is for the per for the March and if you see for quarter it is 3,600 and the employees are 1,615 employees as of March.
Evasive
High priority
Clarity on full extent of regulatory impact and timeline.
Asked by Sarna Burkharji, 361 Capital
Management did not provide a timeline or quantify the impact, only gave qualitative assurances.
no timeline givenno quantified impactvague
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Question
will we be getting some clarity on what is the full extent of the impact because we are already in the third week of April ... would it be like that we will have an idea as we close April or it be like that optimization will continue for few months?
Management (not named)
from profitability point of view we will try and make it neutral if not positive ... There will be some marginal reductions could come. ... somewhat neutral kind of model.
Partial answer
Medium priority
Customer movement and SIP dynamics during the quarter.
Asked by Sarna Burkharji, 361 Capital
Management discussed cancellations and registrations but did not split between existing and new customers.
did not directly answer new vs existing splitgave cancellation data but not onboarding
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Question
how has the movement been during the quarter? ... existing customers opening incremental SIPs or how is it playing out in terms of onboarding new to ABS AMC customers?
Management (not named)
we have seen some of cancellations this quarter ... our SAP cancellations were actually lower than industry ... resistations have not come down quite significantly ... number is about 6.71 lakh again 5.4 four in the previous quarter
Answered
High priority
Yield by asset class (equity, debt, liquid, ETF).
Asked by Sarna Burkharji, 361 Capital
Management provided specific yield ranges for each asset class.
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Question
if you could share the ease by asset plus that would be very yeah
Management (not named)
yields in equity category are around 62 60 62 63 basis points and that side it is around 24 to 25 basis points liquid is around 12 to 13 basis points ETF is around six basis response.
Answered
Medium priority
Equity yield and reason for sequential decline.
Asked by HD from Premi Invest, Premi Invest
Management explained the reason for yield decline and quantified the drop.
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Question
when I look at the equity at least if I back calculate broadly so there is a good around two three basis point yield reduction which would have happened this quarter ... is it anything particular to do here
Management (not named)
this is the function of telescoping pricing as well as mix of products. ... from last year to this year there is a marginal drop of two to three basis points I think otherwise it could continue.
Evasive
High priority
Whether net equity inflows have reached a steady monthly run-rate of 250-300 cr.
Asked by HD from Premi Invest, Premi Invest
Management did not confirm or deny the run-rate, only said 'much higher' without quantification.
no specific number givenvaguedeferred
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Question
is it fair to assume that right now we are at a stage that on a monthly basis we are getting 250 300 cr of net inflows as a bare minimum?
Management (not named)
I would probably say the number will be much higher than what you're indicating so I don't want to say right now but I would we would probably push for higher than these numbers
Answered
Medium priority
Banking channel strategy and product approvals.
Asked by Magna Lutra, Incredities
Management provided specific details about product approvals and channel strategy.
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Question
you mentioned on the banking front we've got some approval from some products. So can we get some more color on that and how do we see the strategy in the banking channel changing?
Management (not named)
two of our products is part of the recommendation list. ... we have seen KC Bank is also part of our wealth management team ... two of our products as part of the recommendation list