UTI Asset Management Company (UTIAMC) Q2 25/26 earnings summary

Executive summary

• Leadership transition announced: Vetri Subramaniam to become MD & CEO from February 2026, with Imtaiyazur Rahman moving to a strategic advisor role until June 2026.

• Total group AUM reached ₹22,41,837 crore, up 11.18% YoY and 2.22% QoQ as of September 2025; UTI MF QAAUM grew 10.47% YoY to ₹3,78,413 crore, with equity assets comprising 69% of total AUM.

• Digital transactions surged, with 52.74 lakh digital purchase transactions in Q2 FY26, up 17.97% YoY; focus on digital transformation, financial literacy, and expanding presence in B30 cities and international markets.

• Voluntary Retirement Scheme (VRS) launched for workforce realignment, with a one-time family pension revision cost of ₹25 crore booked in Q2.

• Board-approved VRS for 479 eligible employees, with average payout estimated at ₹6-6.5 lakh per employee; family pension scheme revised for the first time since 1994.

Financial highlights

• Consolidated core income for Q2 FY26: ₹390 crore, up 5% YoY and 3% QoQ; standalone total income for Q2 FY26 was ₹391.12 crore.

• Consolidated core PAT for Q2: ₹107 crore (including pension impact); normalized PAT: ₹133 crore; H1 consolidated core PAT: ₹228 crore, normalized: ₹248 crore.

• Standalone core PAT for Q2: ₹104 crore (including pension impact); normalized: ₹124 crore, up 7% YoY, 5% QoQ; H1 standalone core PAT: ₹221 crore, normalized: ₹241 crore, up 13% YoY.

• Standalone net profit for Q2 FY26 was ₹166.21 crore, compared to ₹201.20 crore in Q2 FY25; consolidated net profit for Q2 FY26 was ₹132.20 crore, compared to ₹263.08 crore in Q2 FY25.

• Employee benefit expense included a one-time impact of ₹25 crore due to family pension revision.

Outlook and guidance

• Continued focus on hybrid fund category, digital adoption, SIP market share growth, and expanding in B30 cities.

• Expectation of improved flows in H2, supported by distributor engagement and product positioning.

• Strategic initiatives to deepen presence in Tier 2/3 markets and capitalize on SEBI incentives for women investors.

• Cost structure and dividend payout guidance to be updated post-VRS completion in Q3.