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Revenue
₹1,517 Cr
verification pending
Revenue YoY
19.5%
reported change
EBITDA
₹1,128 Cr
latest reported figure
Source
manual review required
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
ICICI Prudential AMC reported a strong Q4 FY26 with operating revenue of ₹1,517 crore (+19.5% YoY) and operating profit before tax of ₹1,128 crore (+30.2% YoY). PAT came in at ₹763 crore (+10.4% YoY). The company maintained its position as the second-largest AMC with a 13.5% market share in total AUM and the largest share in active equity schemes at 14.2%. Key drivers included robust equity inflows despite market corrections, growth in passive AUM (+48.3% YoY), and expansion in the alternatives business. Management highlighted sustained SIP flows and a growing unique customer base of 17 million. The transfer of ICICI Venture's investment management rights adds ₹46.28 billion in fee-paying AUM. Risks include potential market volatility impacting flows and regulatory changes affecting TER margins.
Colored figures show movement against the previous available record.
Guidance to track
- Non-cash ESOP and ESU expenses will be amortized over vesting period, with estimated P&L impact of ₹640-680 million in FY27.
- Regulatory changes effective April 1, 2026, will impact gross yields by 3-4 basis points; management is identifying steps to mitigate.
- Working with regulators on 4-5 ideas; expect to launch one or two NFOs in the next month across SIF and mutual fund categories.
Risks flagged
- Sustained market downturn could reduce investor appetite for equity funds, affecting AUM growth and revenue.
- New TER regulations effective April 1, 2026, could compress margins by 3-4 bps; full impact not yet quantified.
- Transfer of investment management rights for AIFs may face operational challenges or underperformance of acquired funds.
Key quotes
- Our net flows market share in equity schemes exceeds our AUM market share.
- We are no experts at geopolitics. But when the markets have corrected significantly, we have indicated to our distributors that slowly and the valuations in the Indian markets correcting, people are taking their call based on their risk appetite.
- The young Indians are looking at mutual fund as the main investment vehicle and not as an alternate investment vehicle.
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