ICICI Prudential Asset Management Company (ICICIAMC) Q4 19/20 earnings summary

Executive summary

• FY20 total income was ₹20,068.2m; profit before tax was ₹14,116.4m and profit for the year was ₹10,459.0m, versus ₹20,043.2m, ₹10,487.5m and ₹6,830.8m in FY19, respectively.

• Average AUM of ICICI Prudential Mutual Fund stood at ₹3,507.43bn as of March 31, 2020.

Financial highlights

• Revenue from operations was ₹20,054.4m vs ₹20,029.5m; fees and commission income rose to ₹19,790.7m from ₹19,346.2m.

• Total expenses fell to ₹5,951.8m from ₹9,555.7m; FY19 included ₹1,094.5m of compensation to schemes and investors and a ₹9.0m SEBI settlement payment.

• Net gain on fair value changes was ₹205.2m vs ₹567.1m; dividend income was ₹24.1m vs ₹55.7m.

• Operating cash flow was ₹11,673.9m vs ₹7,106.3m; year-end cash and cash equivalents were ₹181.0m vs ₹48.3m.

Outlook and guidance

• Operations continued as essential services during COVID-19 restrictions; digital touchpoints supported investor transactions, and management planned ongoing monitoring of pandemic-related business impacts.

• Liquidity was assessed for the next 12 months, with management concluding no material financial-statement adjustment was required at March 31, 2020; future effects remain dependent on the pandemic’s intensity, spread and duration.