Cash flow HDFC Asset Management Company Limited

Equities

HDFCAMC

INE127D01025

Investment Management & Fund Operators

Market Closed - NSE India S.E. Other stock markets 12:05:08 15/05/2026 BST			5-day change	1st Jan Change
2,703.50 ^INR	+0.44%		-5.27%	+1.17%

04-20	Nomura Adjusts HDFC Asset Management's Price Target to INR3,130 From INR2,950, Keeps at Buy	MT
04-17	Jefferies Adjusts HDFC Asset Management's Price Target to INR3,090 from INR2,960, Keeps at Buy	MT

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Published financial data: HDFC ASSET MANAGEMENT COMPANY LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	18.53B	21.15B	21.67B	25.84B	34.98B
Gain (Loss) on Sale of Investment, Total (Rev)	3.08B	2.8B	2.81B	5.47B	5.31B
Interest And Invest. Income (Rev)	332M	338M	306M	281M	218M
Other Revenues, Total	78.6M	43.9M	42.2M	36.6M	85.7M
Total Revenues	22.02B	24.33B	24.83B	31.63B	40.6B
Cost of Goods Sold, Total	2.37B	3.23B	3.22B	3.65B	4.02B
Gross Profit	19.65B	21.1B	21.6B	27.99B	36.58B
Selling General & Admin Expenses, Total	154M	279M	384M	457M	475M
Depreciation & Amortization - (IS)	554M	538M	533M	523M	585M
Other Operating Expenses	1.36B	1.65B	1.89B	2.17B	2.57B
Other Operating Expenses, Total	2.06B	2.47B	2.81B	3.15B	3.64B
Operating Income	17.58B	18.64B	18.8B	24.84B	32.95B
Interest Expense, Total	-89.5M	-86.4M	-96.9M	-90.9M	-94.1M
Net Interest Expenses	-89.5M	-86.4M	-96.9M	-90.9M	-94.1M
Currency Exchange Gains (Loss)	-1.8M	600K	-400K	-500K	-500K
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	17.49B	18.55B	18.7B	24.75B	32.86B
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	400K	300K	1.1M	500K	800K
EBT, Incl. Unusual Items	17.49B	18.55B	18.7B	24.75B	32.86B
Income Tax Expense	4.23B	4.62B	4.47B	5.32B	8.25B
Earnings From Continuing Operations	13.26B	13.93B	14.23B	19.43B	24.6B
Net Income to Company	13.26B	13.93B	14.23B	19.43B	24.6B
Net Income - (IS)	13.26B	13.93B	14.23B	19.43B	24.6B
Net Income to Common Incl Extra Items	13.26B	13.93B	14.23B	19.43B	24.6B
Net Income to Common Excl. Extra Items	13.26B	13.93B	14.23B	19.43B	24.6B
Per Share Items
Net EPS - Basic	31.14	32.68	33.36	45.5	57.58
Basic EPS - Continuing Operations	31.14	32.68	33.36	45.5	57.58
Basic Weighted Average Shares Outstanding	426M	426M	427M	427M	427M
Net EPS - Diluted	31.08	32.66	33.36	45.44	57.38
Diluted EPS - Continuing Operations	31.08	32.66	33.36	45.44	57.38
Diluted Weighted Average Shares Outstanding	427M	427M	427M	427M	429M
Normalized Basic EPS	25.67	27.2	27.39	36.23	48.06
Normalized Diluted EPS	25.63	27.18	27.39	36.19	47.89
Dividend Per Share	17	21	24	35	45
Payout Ratio	44.95	52	62.94	52.74	60.77
Supplemental Items
EBITDA	17.71B	18.76B	18.91B	24.94B	33.07B
EBITA	17.58B	18.64B	18.8B	24.84B	32.95B
EBIT	17.58B	18.64B	18.8B	24.84B	32.95B
EBITDAR	17.72B	18.76B	18.91B	24.95B	33.09B
Total Revenues (As Reported)	22.02B	24.33B	24.83B	31.63B	40.6B
Effective Tax Rate - (Ratio)	24.2	24.91	23.89	21.51	25.12
Total Current Taxes	3.69B	4.19B	4.21B	5.18B	7.3B
Total Deferred Taxes	538M	432M	254M	148M	952M
Normalized Net Income	10.93B	11.6B	11.69B	15.47B	20.53B
Interest on Long-Term Debt	89.5M	86.4M	96.9M	90.9M	94.1M
Non-Cash Pension Expense	4.9M	3.2M	2.4M	2.5M	4.2M
Supplemental Operating Expense Items
Advertising Expense	150M	276M	380M	451M	460M
Selling and Marketing Expenses	150M	276M	380M	451M	460M
Net Rental Expense, Total	3.6M	3.5M	3.8M	6M	15.2M
Imputed Operating Lease Interest Expense	2.17M	2.11M	2.45M	3.42M	8.52M
Imputed Operating Lease Depreciation	1.43M	1.39M	1.35M	2.58M	6.68M
Maintenance & Repair Expenses, Total	49.1M	51.5M	59.5M	79.9M	81.4M
Stock-Based Comp., COGS (Total)	73.5M	633M	401M	470M	225M
Total Stock-Based Compensation	73.5M	633M	401M	470M	225M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	16.8M	18.7M	44.6M	103M	121M
Short Term Investments	-	-	16.8M	287M	287M
Trading Asset Securities, Total	42.63B	51.07B	56.58B	68.93B	78.93B
Total Cash And Short Term Investments	42.65B	51.09B	56.64B	69.32B	79.33B
Accounts Receivable, Total	988M	858M	1.94B	985M	1.48B
Other Receivables	446M	469M	674M	660M	619M
Total Receivables	1.43B	1.33B	2.61B	1.64B	2.1B
Prepaid Expenses	274M	195M	165M	190M	194M
Other Current Assets, Total	141M	202M	230M	217M	240M
Total Current Assets	44.5B	52.82B	59.65B	71.37B	81.87B
Gross Property Plant And Equipment	2.72B	2.36B	2.74B	2.9B	3.36B
Accumulated Depreciation	-1.35B	-1.14B	-1.36B	-1.52B	-1.53B
Net Property Plant And Equipment	1.37B	1.22B	1.38B	1.38B	1.83B
Long-term Investments	4.9B	4.63B	4.18B	2.64B	3.62B
Goodwill	60.4M	60.4M	60.4M	60.4M	60.4M
Other Intangibles, Total	115M	73.4M	89.8M	97.9M	99.8M
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	4.7M	3.8M	5.3M	-	27.1M
Total Assets	50.95B	58.8B	65.36B	75.54B	87.51B
Liabilities
Accounts Payable, Total	421M	292M	357M	390M	400M
Accrued Expenses, Total	1.06B	1.03B	1.25B	1.73B	1.79B
Current Portion of Leases	320M	242M	348M	372M	313M
Current Income Taxes Payable	43.4M	73.7M	184M	62.6M	197M
Other Current Liabilities	73.3M	150M	69.3M	57.8M	99.6M
Total Current Liabilities	1.92B	1.79B	2.21B	2.61B	2.8B
Long-Term Leases	875M	854M	957M	878M	1.12B
Deferred Tax Liability Non Current	321M	753M	1.01B	1.16B	2.11B
Other Non Current Liabilities	70.1M	106M	110M	143M	180M
Total Liabilities	3.19B	3.5B	4.28B	4.79B	6.21B
Common Stock, Total	1.06B	1.07B	1.07B	1.07B	1.07B
Additional Paid In Capital	5.67B	5.92B	6.03B	6.07B	6.99B
Retained Earnings	40.38B	47.07B	52.35B	61.51B	71.14B
Comprehensive Income and Other	649M	1.25B	1.64B	2.1B	2.11B
Total Common Equity	47.76B	55.3B	61.08B	70.75B	81.3B
Total Equity	47.76B	55.3B	61.08B	70.75B	81.3B
Total Liabilities And Equity	50.95B	58.8B	65.36B	75.54B	87.51B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	426M	427M	427M	427M	428M
ECS Total Common Shares Outstanding	426M	427M	427M	427M	428M
Book Value / Share	112.14	129.64	143.09	165.7	190.14
Tangible Book Value	47.59B	55.17B	60.93B	70.59B	81.14B
Tangible Book Value Per Share	111.73	129.33	142.74	165.33	189.76
Total Debt	1.2B	1.1B	1.3B	1.25B	1.44B
Net Debt	-41.45B	-50B	-55.34B	-68.07B	-77.9B
Debt Equivalent of Unfunded Proj. Benefit Obligation	48.9M	33.8M	34.5M	59.3M	83.2M
Debt Equivalent Oper. Leases	28.8M	28M	30.4M	48M	122M
Account Code - Inventory Valuation	3	3	3	3	3
Buildings, Total	43.4M	43.4M	43.4M	43.4M	43.4M
Machinery, Total	392M	415M	427M	442M	655M
Full Time Employees	1.25K	1.19K	1.28K	1.51K	1.62K

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	13.26B	13.93B	14.23B	19.43B	24.6B
Depreciation & Amortization - CF	479M	470M	482M	481M	536M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	479M	470M	482M	481M	536M
Amortization of Deferred Charges, Total - (CF)	75.3M	68.4M	50.9M	42M	49.6M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-3.08B	-2.8B	-2.81B	-5.47B	-5.29B
Asset Writedown & Restructuring Costs	-400K	-400K	-1.1M	-500K	-800K
Stock-Based Compensation (CF)	73.5M	633M	401M	470M	225M
Other Operating Activities, Total	309M	229M	153M	-169M	947M
Change In Accounts Receivable	-193M	53.7M	-1.09B	905M	-404M
Change In Accounts Payable	-45.7M	34M	64.5M	45.2M	10.9M
Change in Other Net Operating Assets	-18.3M	-80.8M	14.1M	412M	70.7M
Cash from Operations	10.85B	12.54B	11.49B	16.15B	20.75B
Capital Expenditure	-116M	-102M	-141M	-190M	-448M
Sale of Property, Plant, and Equipment	400K	600K	1.2M	500K	1M
Investment in Marketable and Equity Securities, Total	-5.14B	-5.45B	-2.38B	-5.59B	-5.75B
Other Investing Activities, Total	425M	473M	356M	360M	219M
Cash from Investing	-4.83B	-5.08B	-2.17B	-5.42B	-5.98B
Long-Term Debt Repaid, Total	-331M	-338M	-341M	-364M	-399M
Total Debt Repaid	-331M	-338M	-341M	-364M	-399M
Issuance of Common Stock	105M	214M	97.8M	39.7M	693M
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-5.96B	-7.24B	-8.96B	-10.25B	-14.95B
Common & Preferred Stock Dividends Paid	-5.96B	-7.24B	-8.96B	-10.25B	-14.95B
Other Financing Activities, Total	-89.5M	-86.4M	-96.9M	-90.9M	-94.1M
Cash from Financing	-6.28B	-7.46B	-9.3B	-10.66B	-14.75B
Foreign Exchange Rate Adjustments	-	-	-500K	-4.4M	1.2M
Net Change in Cash	-250M	1.9M	25.9M	58.7M	18M
Supplemental Items
Cash Interest Paid	89.5M	86.4M	96.9M	90.9M	94.1M
Cash Income Tax Paid (Refund)	3.68B	4.15B	4.1B	5.3B	7.17B
Levered Free Cash Flow	11.18B	12.74B	11.51B	17.61B	20.66B
Unlevered Free Cash Flow	11.24B	12.79B	11.57B	17.66B	20.72B
Change In Net Working Capital	264M	-75.3M	970M	-1.33B	241M
Net Debt Issued / Repaid	-331M	-338M	-341M	-364M	-399M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	23.37	21.23	18.92	22.04	25.26
Return on Total Capital	24.3	22.11	19.78	23.11	26.62
Return On Equity %	30.11	27.03	24.46	29.47	32.36
Return on Common Equity	30.11	27.03	24.46	29.47	32.36
Margin Analysis
Gross Profit Margin %	89.22	86.73	87.02	88.48	90.11
SG&A Margin	0.7	1.15	1.55	1.45	1.17
EBITDA Margin %	80.44	77.09	76.17	78.85	81.46
EBITA Margin %	79.84	76.6	75.72	78.53	81.16
EBIT Margin %	79.84	76.6	75.72	78.53	81.16
Income From Continuing Operations Margin %	60.21	57.26	57.33	61.41	60.6
Net Income Margin %	60.21	57.26	57.33	61.41	60.6
Net Avail. For Common Margin %	60.21	57.26	57.33	61.41	60.6
Normalized Net Income Margin	49.64	47.66	47.08	48.9	50.58
Levered Free Cash Flow Margin	50.77	52.36	46.37	55.66	50.88
Unlevered Free Cash Flow Margin	51.03	52.58	46.61	55.84	51.02
Asset Turnover
Asset Turnover	0.47	0.44	0.4	0.45	0.5
Fixed Assets Turnover	15.83	18.79	19.11	22.98	25.35
Receivables Turnover (Average Receivables)	21.14	22.93	15.5	17.68	27.29
Short Term Liquidity
Current Ratio	23.19	29.51	27	27.32	29.28
Quick Ratio	22.98	29.29	26.82	27.16	29.13
Operating Cash Flow to Current Liabilities	5.66	7	5.2	6.18	7.42
Days Sales Outstanding (Average Receivables)	17.27	15.92	23.54	20.7	13.37
Average Days Payable Outstanding	68.31	31.17	36.76	36.86	35.91
Long Term Solvency
Total Debt/Equity	2.5	1.98	2.14	1.77	1.77
Total Debt / Total Capital	2.44	1.94	2.09	1.74	1.74
LT Debt/Equity	1.83	1.54	1.57	1.24	1.38
Long-Term Debt / Total Capital	1.79	1.51	1.53	1.22	1.36
Total Liabilities / Total Assets	6.25	5.96	6.55	6.34	7.09
EBIT / Interest Expense	196.43	215.72	193.98	273.28	350.16
EBITDA / Interest Expense	201.78	221.16	198.96	278.57	355.85
(EBITDA - Capex) / Interest Expense	200.48	219.98	197.51	276.48	351.09
Total Debt / EBITDA	0.07	0.06	0.07	0.05	0.04
Net Debt / EBITDA	-2.3	-2.62	-2.87	-2.69	-2.33
Total Debt / (EBITDA - Capex)	0.07	0.06	0.07	0.05	0.04
Net Debt / (EBITDA - Capex)	-2.31	-2.63	-2.89	-2.71	-2.36
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	2.77	10.5	2.03	27.42	28.35
Gross Profit, 1 Yr. Growth %	3.38	7.42	2.36	29.56	30.72
EBITDA, 1 Yr. Growth %	5.66	5.9	0.82	31.9	32.6
EBITA, 1 Yr. Growth %	5.62	6.02	0.85	32.16	32.64
EBIT, 1 Yr. Growth %	5.62	6.02	0.85	32.16	32.64
Earnings From Cont. Operations, 1 Yr. Growth %	5.02	5.08	2.17	36.49	26.64
Net Income, 1 Yr. Growth %	5.02	5.08	2.17	36.49	26.64
Normalized Net Income, 1 Yr. Growth %	5.58	6.08	0.79	32.35	32.75
Diluted EPS Before Extra, 1 Yr. Growth %	4.93	5.07	2.14	36.25	26.25
Accounts Receivable, 1 Yr. Growth %	29.12	-13.2	125.96	-49.15	37.45
Net Property, Plant and Equip., 1 Yr. Growth %	-3.2	-10.73	12.61	0.07	32.66
Total Assets, 1 Yr. Growth %	18.24	15.42	11.15	15.57	15.84
Tangible Book Value, 1 Yr. Growth %	18.69	15.93	10.44	15.86	14.94
Common Equity, 1 Yr. Growth %	18.54	15.78	10.45	15.84	14.91
Cash From Operations, 1 Yr. Growth %	-15.53	15.52	-8.33	40.49	28.5
Capital Expenditures, 1 Yr. Growth %	-61.05	-11.96	37.83	34.96	135.37
Levered Free Cash Flow, 1 Yr. Growth %	-2.97	13.96	-9.65	52.96	17.32
Unlevered Free Cash Flow, 1 Yr. Growth %	-2.96	13.87	-9.56	52.65	17.28
Dividend Per Share, 1 Yr. Growth %	21.43	23.53	14.29	45.83	28.57
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.48	6.57	6.18	14.02	27.88
Gross Profit, 2 Yr. CAGR %	9.87	5.38	4.86	15.16	30.14
EBITDA, 2 Yr. CAGR %	11.53	5.78	3.33	15.32	32.25
EBITA, 2 Yr. CAGR %	11.48	5.82	3.4	15.45	32.4
EBIT, 2 Yr. CAGR %	11.48	5.82	3.4	15.45	32.4
Earnings From Cont. Operations, 2 Yr. CAGR %	19.36	5.05	3.62	18.09	31.47
Net Income, 2 Yr. CAGR %	19.36	5.05	3.62	18.09	31.47
Normalized Net Income, 2 Yr. CAGR %	12.78	5.83	3.4	15.5	32.55
Diluted EPS Before Extra, 2 Yr. CAGR %	19.16	5	3.6	17.97	31.15
Accounts Receivable, 2 Yr. CAGR %	1.91	5.87	40.05	7.19	-12.48
Net Property, Plant and Equip., 2 Yr. CAGR %	131.08	-7.04	0.27	6.15	15.21
Total Assets, 2 Yr. CAGR %	25.71	16.82	13.27	13.34	15.71
Tangible Book Value, 2 Yr. CAGR %	24.84	17.3	13.15	13.12	15.4
Common Equity, 2 Yr. CAGR %	24.72	17.15	13.08	13.11	15.37
Cash From Operations, 2 Yr. CAGR %	10.17	-1.22	2.91	13.49	34.36
Capital Expenditures, 2 Yr. CAGR %	-18.61	-41.44	10.16	36.39	78.23
Levered Free Cash Flow, 2 Yr. CAGR %	8.54	5.15	1.47	17.56	33.96
Unlevered Free Cash Flow, 2 Yr. CAGR %	8.81	5.12	1.48	17.5	33.8
Dividend Per Share, 2 Yr. CAGR %	19.02	22.47	18.82	29.1	36.93
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	5.6	5.08	5.03	12.84	18.61
Gross Profit, 3 Yr. CAGR %	13.68	9.05	4.37	12.52	20.13
EBITDA, 3 Yr. CAGR %	18.44	9.62	4.1	12.09	20.81
EBITA, 3 Yr. CAGR %	18.43	9.63	4.14	12.21	20.92
EBIT, 3 Yr. CAGR %	18.43	9.63	4.14	12.21	20.92
Earnings From Cont. Operations, 3 Yr. CAGR %	23.07	14.4	4.08	13.58	20.87
Net Income, 3 Yr. CAGR %	23.07	14.4	4.08	13.58	20.87
Normalized Net Income, 3 Yr. CAGR %	18.23	10.5	4.12	12.27	20.99
Diluted EPS Before Extra, 3 Yr. CAGR %	21.72	14.26	4.04	13.5	20.67
Accounts Receivable, 3 Yr. CAGR %	-1.18	-3.4	36.31	-0.09	20.06
Net Property, Plant and Equip., 3 Yr. CAGR %	84.25	68.3	-0.9	0.2	14.34
Total Assets, 3 Yr. CAGR %	27.26	22.18	14.9	14.03	14.17
Tangible Book Value, 3 Yr. CAGR %	28.57	21.79	14.97	14.05	13.72
Common Equity, 3 Yr. CAGR %	28.44	21.66	14.87	13.99	13.71
Cash From Operations, 3 Yr. CAGR %	20.64	11.93	-3.65	14.16	18.28
Capital Expenditures, 3 Yr. CAGR %	-11.98	-16.45	-22.1	17.87	63.59
Levered Free Cash Flow, 3 Yr. CAGR %	24.64	10.31	-0.03	16.34	17.48
Unlevered Free Cash Flow, 3 Yr. CAGR %	24.85	10.47	-0.02	16.28	17.43
Dividend Per Share, 3 Yr. CAGR %	28.56	20.51	19.68	27.22	28.92
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	8.06	9.12	5.83	8.57	13.64
Gross Profit, 5 Yr. CAGR %	8.03	8.58	10.07	11.45	14
EBITDA, 5 Yr. CAGR %	19.79	18.22	12.15	11.87	14.56
EBITA, 5 Yr. CAGR %	19.91	18.36	12.17	11.92	14.63
EBIT, 5 Yr. CAGR %	19.94	18.38	12.17	11.92	14.63
Earnings From Cont. Operations, 5 Yr. CAGR %	22.64	20.42	14.88	15.86	14.28
Net Income, 5 Yr. CAGR %	22.64	20.42	14.88	15.86	14.28
Normalized Net Income, 5 Yr. CAGR %	19.81	18.33	12.06	12.48	14.68
Diluted EPS Before Extra, 5 Yr. CAGR %	21.41	19.28	14.12	15.73	14.14
Accounts Receivable, 5 Yr. CAGR %	-3.86	-0.28	13.61	0.7	14.17
Net Property, Plant and Equip., 5 Yr. CAGR %	43.15	40.1	44.45	39.97	5.25
Total Assets, 5 Yr. CAGR %	29.06	29.74	21.46	18.57	15.22
Tangible Book Value, 5 Yr. CAGR %	33.04	31.33	22.17	18.25	15.14
Common Equity, 5 Yr. CAGR %	32.92	31.19	22.06	18.17	15.07
Cash From Operations, 5 Yr. CAGR %	7.9	22.48	13.21	12.55	10.06
Capital Expenditures, 5 Yr. CAGR %	4.3	-5.48	-3.72	1.64	8.47
Levered Free Cash Flow, 5 Yr. CAGR %	10.85	22.52	14.8	13.16	12.38
Unlevered Free Cash Flow, 5 Yr. CAGR %	10.96	22.62	14.92	13.23	12.34
Dividend Per Share, 5 Yr. CAGR %	27.73	29.57	24.57	23.87	26.3