ETMarkets.comPrabhudas Lilladher has buy call on HDFC Asset Management Company with a target price of Rs 2800. The current market price of HDFC Asset Management Company is Rs 2481.5.
HDFC Asset Management Company, incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 53015.15 Crore) operating in Financial Services sector.
HDFC Asset Management Company key Products/Revenue Segments include Income From Portfolio Management Services and Investment Management & Advisory Fees for the year ending 31-Mar-2023.
Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 732.62 Crore, up 14.86 % from last quarter Total Income of Rs 637.83 Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company has reported net profit after tax of Rs 477.41 Crore in latest quarter.
Investment Rationale
The brokerage raises multiple for HDFCAMC from 27x to 35x (5-yr avg. of 40x) as core PAT is upgraded by 7.0% for FY24/25E, due to higher revenue given strong AuM growth in FY24E. Equity growth may outpace industry.
Promoter/FII Holdings
Promoters held 52.55 per cent stake in the company as of 30-Jun-2023, while FIIs owned 12.99 per cent, DIIs 22.31 per cent.
HDFC Asset Management Company, incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 53015.15 Crore) operating in Financial Services sector.
HDFC Asset Management Company key Products/Revenue Segments include Income From Portfolio Management Services and Investment Management & Advisory Fees for the year ending 31-Mar-2023.
Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 732.62 Crore, up 14.86 % from last quarter Total Income of Rs 637.83 Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company has reported net profit after tax of Rs 477.41 Crore in latest quarter.
Investment Rationale
The brokerage raises multiple for HDFCAMC from 27x to 35x (5-yr avg. of 40x) as core PAT is upgraded by 7.0% for FY24/25E, due to higher revenue given strong AuM growth in FY24E. Equity growth may outpace industry.
Promoter/FII Holdings
Promoters held 52.55 per cent stake in the company as of 30-Jun-2023, while FIIs owned 12.99 per cent, DIIs 22.31 per cent.
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