CAMS Q2 FY25 Earnings Call:
| Division | Revenue Growth (YoY) | Key Highlights |
|---|---|---|
| Mutual Funds | 32.9% | * Fastest quarterly AUM growth ever, adding nearly 5 lakh cr in a single quarter. * Equity assets grew 59.4%, exceeding industry growth of 53.5%. * Gained market share in equity AUM, reaching 66%. * Record high SIP registrations and strong retail participation. |
| Alternatives | 21% | * Rebounded from a decline in the previous quarter. * Highest number of quarterly new mandates at 57. * Growth driven by new signings and adoption of digital solutions like the CAMS Serv 360 platform. |
| CAMS KRA | 56% | * Expanded client base with 26 new fintech platforms added. * Strong growth attributed to increasing investor diversification, leading to multiple KYC registrations. * Launched new products, including a KYC dashboard and WhatsApp KYC, to enhance customer onboarding. |
| CAMS Insurance Repository | Not specified | * Added nearly 1 million e-policies in Q2, doubling the quarterly additions from the previous year. * Onboarded SBI General and ICICI Prudential as integrated insurers on the “Bima Central” platform. |
| CAMS Pay | 69% | * Driven by growth in UPI AutoPay and recurring payments. * Added 23 new logos in Q2, including LIC for payment gateway services. * Increased adoption of CAMS Pay for MF SIPs and other recurring payments. |
| Account Aggregator | 170% | * Holding a market share of 16.5%. * Revenue growth driven from a small base, but expected to scale up in the coming quarters. * Seeing some cannibalization from Algo 360 due to overlap with the account aggregator model. |
| NPS | 2.5x | * Crossed 1 lakh subscribers and maintained its position as the second-largest eNPS player. * Partnered with Indian Bank for onboarding eNPS customers. |
| MF Central | Not specified | * Revenue of 1.7 crores in the current quarter, split equally between CAMS and KFintech. * Formation of a JV with KFintech to further develop the platform and expand its capabilities, including facilitating financial transactions like loans against mutual funds. |
| Think 360 | Revenue Decline | * Experienced revenue decline due to cannibalization from the account aggregator business. * Some US analytics contracts came to an end, contributing to the decline. |
Overall, the sources highlight strong growth across most of CAMS’ divisions. While MF revenue growth is expected to moderate, the non-MF businesses are poised for continued expansion, contributing to the company’s revenue diversification strategy.
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