Computer Age Management Services (CAMS) Q2 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue in Q2 FY26, driven by strong growth in both mutual fund (MF) and non-MF segments, with robust client additions and platform investments.

• MF revenue grew 6.4% QoQ and 3.2% YoY; non-MF revenue up 17.9% QoQ and 50% YoY.

• MF market share remained at 68%, with equity net sales market share rising to 69% and unique investor growth of 17% YoY.

• SIP collections grew 21% YoY, with new SIP registrations at 1.14 crore in Q2.

• Six new AMC clients went live in the year, with three more expected soon.

Financial highlights

• Q2 FY26 revenue was Rs. 37,674 lakh, up 6.4% QoQ and 3.2% YoY; consolidated H1 FY26 revenue reached Rs. 73,088.98 lakhs.

• EBITDA margin improved to 44.6%, with PAT margin at 29.6%.

• Interim dividend of Rs. 14 per share declared.

• Cash & cash equivalents at Rs. 822.22 Cr as of September 30, 2025.

• Standalone and consolidated net profit for H1 FY26 were Rs. 21,612.73 lakhs and Rs. 22,197.71 lakhs, respectively.

Outlook and guidance

• Continued onboarding of new asset managers, with three more scheduled to go live; revenue from NSE KRA integration expected from Q4 FY26.

• Cost increases to be contained within 10-11% YoY; automation and AI initiatives to support margin sustainability.

• Board approved sub-division of equity shares from face value Rs. 10 to Rs. 2 each, pending shareholder approval.