Q3 2024 Computer Age Management Services Ltd Earnings Call Transcript
Key Points
- Computer Age Management Services Ltd (BOM:543232) won the mutual fund RTA mandate of Unifi Capital, adding to its significant new logo wins in the mutual fund arena.
- The company's mutual fund assets under management (AUM) grew by 22% year-on-year, reaching INR33.95 trillion, with a market share of 68.2%.
- Equity AUM grew by 31% year-on-year, significantly outpacing the industry's 24% growth, and the company's equity AUM market share increased to 66%.
- Non-mutual fund businesses grew by 59% year-on-year, with four out of six non-MF businesses growing by more than 20%.
- The company reported a 19.7% year-on-year growth in EBITDA, with the EBITDA margin reaching a historical high of 44.8%.
- Despite the strong growth in non-MF businesses, the profitability of these segments remains lower, with non-MF EBITDA margins still under 15%.
- The insurance repository business, particularly the EIA segment, is not yet profitable and is close to breakeven.
- The company continues to face yield compression in its mutual fund business, although it has stabilized in the recent quarter.
- There is a significant gap between the company and the market leader in the KRA business, and it may take time to close this gap.
- The company's investments in new initiatives and platforms, such as Bima Central and account aggregator services, are ongoing and may continue to impact short-term profitability.
Ladies and gentlemen, good day and welcome to the Q3 FY24 earnings conference call of Computer Age Management Services Ltd. hosted by Orient Capital. With us today we have Mr. Anuj Kumar, Managing Director; Mr. Ram Charan SR, CFO; and Mr. Anish Sawlani, Head Investor Relations. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Ms. Shivani Karwat from Orient Capital. Thank you and over to you, ma'am.
Hi, good morning, everyone. Welcome to the Q3 FY24 earnings conference call for Computer Age Management Services Ltd.
Before we proceed to the call, I would like to give a small disclaimer that this conference call will contain forward-looking statements about the company which are based on beliefs, opinions and expectations of the company as on date. These statements are not guarantees of future performance and involve risks and uncertainties which are difficult to predict. A detailed disclaimer has also been published in the investor presentation which
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