UTI Asset Management Company (UTIAMC) Q4 20/21 earnings summary

Executive summary

• FY21 consolidated total income rose 34.7% YoY to INR 1,198.63 crore; profit attributable to owners increased 82.1% to INR 494.14 crore.

• Total AUM across mutual funds, PMS and advisory services reached INR 11.61 lakh crore, up from INR 9.80 lakh crore; domestic MF QAAUM share rose to 5.69%.

• Operations advanced through a successful October 2020 IPO listing, stronger equity-fund sales, digital onboarding and expanded distribution.

Financial highlights

• Consolidated revenue from operations increased 36.8% YoY to INR 1,168.52 crore; total income was INR 1,198.63 crore versus INR 889.96 crore.

• Consolidated PAT attributable to owners was INR 494.14 crore versus INR 271.46 crore; standalone PAT was INR 351.67 crore versus INR 309.16 crore.

• Consolidated PBT rose 76.7% to INR 603.03 crore; higher service revenue and fair-value gains were partly offset by higher employee and other expenses.

• Consolidated operating revenue included INR 279.90 crore of net fair-value gains, versus an INR 8.66 crore net loss in FY20.

Outlook and guidance

• Focus remains on consistent growth in revenue, profitability, market share and fund performance, emphasizing higher-yielding equity and fixed-income products.

• Priorities include B30 and underserved markets, institutional and PSU relationships, MSME/SME clients, and growth in international funds, AIFs and PMS.

• Industry QAAUM was projected to grow at ~14% CAGR through 2025, with equity AUM forecast at ~18% CAGR; these are industry estimates, not company guidance.