UTI Asset Management Company (UTIAMC) Q4 22/23 earnings summary

Executive summary

• FY2022-23 consolidated revenue from operations was ₹1,266.86 crore and total income ₹1,290.09 crore; profit attributable to owners was ₹437.36 crore, down 18.14% YoY.

• Total AUM reached ₹15.56 lakh crore at 31 March 2023; domestic mutual fund QAAUM was ₹2.39 lakh crore, up 6.68% YoY.

• The Board recommended a final dividend of ₹22 per share, equal to 65.82% of standalone PAT, subject to shareholder approval.

Financial highlights

• Consolidated revenue from operations fell to ₹1,266.86 crore from ₹1,319.08 crore; total income declined 2.80% to ₹1,290.09 crore, mainly on lower fair-value gains.

• Consolidated PBT was ₹585.62 crore, down 11.29% YoY; PAT attributable to owners was ₹437.36 crore, down 18.14%.

• Standalone revenue from operations was ₹1,091.57 crore, up from ₹1,059.63 crore; standalone PAT was ₹424.43 crore versus ₹417.78 crore.

• Consolidated operating cash flow was ₹395.43 crore; cash and cash equivalents closed at ₹209.45 crore versus ₹173.42 crore a year earlier.

• Other income included an ₹8.04 crore reversal of an employee superannuation liability and ₹19.87 crore accrued investment income recorded in fair-value gains.

Outlook and guidance

• Industry AUM is projected to grow at 15–16% CAGR from FY2023 to FY2028, reaching ₹85 lakh crore; this is an industry forecast, not company guidance.

• Industry equity AUM is forecast to grow at 18–19% CAGR and ETFs at 23% CAGR through FY2028; debt mutual funds are projected at 3–4% CAGR.

• Strategic priorities include expanding B30 and T30 reach, strengthening distribution and digital channels, and growing international, retirement and alternative businesses.

• Twelve mutual fund schemes launched in FY2022-23 mobilised ₹1,142 crore; expansion included debt, passive and fixed-maturity offerings.