Trading Cockpit

· checking…
Loading…
← CockpitCompetitor Analysis › HDFCAMC.NS HDFC Asset Management Co.Open in the cockpit ↗

HDFC Asset Management Co.HDFCAMC.NSCompetitor analysis, valuation and peers

India · INR·Financials›Investment Managers

One of India's largest mutual fund managers, majority-owned by the HDFC Group, with a UK-based abrdn minority stake.

≈ India's smaller T. Rowe PriceMomentum strong 71
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$12.0B
US dollars, full cap
Free float
48%
of shares outstanding
$/day
$23.6M
20-day average traded
Fwd P/E
35.5×
forward earnings
ROIC−WACC
n/a
WACC 16.8%
Hurdle
n/a
no reverse DCF
Next earnings
81 days
26 Jan 2027
Close · INR₹2,650
1D+0.4%
1W+14.7%
1M+14.5%
3M+4.4%
6M-6.5%
YTD-0.8%
1Y-1.2%
ATR %2.7%
Beta1.54
52w lowhigh8.7% off high

What HDFC Asset Management does

One of India's largest mutual fund managers, majority-owned by the HDFC Group, with a UK-based abrdn minority stake.

Earns a yearly fee charged on assets under management, with equity funds paying more per rupee than debt funds, and distributes widely through banks, including HDFC Bank, and independent advisors. Since HDFC Ltd merged into HDFC Bank in 2023, the bank holds the controlling stake.

In one line: India's smaller T. Rowe Price.

Products and services

  • Equity mutual funds
  • Debt/fixed-income mutual funds
  • ETFs/passive funds

Customers

  • Retail investors
  • Institutional investors

Where it sits in the supply chain

  • Financials
  • Asset management
  • Mutual funds - India

What could go right

  • Rising mutual fund penetration/SIP flows in India
  • Equity market-linked AUM growth

What could go wrong

  • Equity market cyclicality affecting AUM/fees
  • Fee compression from passive fund competition

Moat: wide (brand, distribution, scale). HDFC brand trust and a large distribution network across banks/independent advisors give strong scale in asset management.

Headquarters: Mumbai, India · Founded: 2000 · Employees: 2,305

Named competitors

HDFC Asset Management at a glance

Size HDFC Asset Management (HDFCAMC.NS) is an India Financials company (Investment Managers) with a market value of $12.0B, the 99th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,650 on 6 Nov 2026.

Performance Over six months the shares fell 6.5%, against +7.2% for the median peer and 0.0% for the India market (cap-weighted) — 6th lowest of 20 in its peer set.

Growth Revenue grew 12.0% over the last twelve months (peer median +13.0%); the operating margin is 79.8% (peer median 34.9%).

Valuation It trades at 35.5× forward earnings against a peer median of 13.8× (2nd most expensive of 21).

Next results Next results expected around 26 Jan 2027 (exchange calendar; dates can move).

Relative performance

8010012011 May 202611 Aug 20266 Nov 2026Peer median 107HDFCAMC.NS 93
Six months, rebased to 100: HDFC Asset Management against the median of its 20 peers (local-currency closes).

HDFC Asset Management financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹49.0B₹46.2B₹40.6B₹31.6B₹24.8B
Revenue growth—+14%+28%+27%—
Gross profit₹48.0B₹45.0B₹39.5B₹30.7B₹23.9B
EBITDA₹39.9B₹38.4B₹33.9B₹25.7B₹19.6B
Net income₹29.8B₹28.6B₹24.6B₹19.4B₹14.2B
Free cash flown/a₹25.5B₹20.5B₹16.3B₹11.7B
Capital expendituren/a₹226M₹448M₹190M₹141M
Total debt₹2.97B₹2.18B₹1.44B₹1.25B₹1.30B

Quarterly statements and history in the cockpit →

HDFC Asset Management competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-20%0%+20%+40%-10%0%+10%+20%IVZSEICIAGIGMSF002736CGDWSICICIAMCAMGOWLHQYCVCBENTPGVZNBGNVCTRICGHDFCAMC.NS6-month return →1-month return →
Up and to the right = strong over both horizons. HDFC Asset Management is the large dot.

Fundamentals: revenue growth against valuation

-10%0%+10%+20%10×20×30×IVZSEICIAGIGMSBIFUNDSSF002736CGDWSICICIAMCAMGHQYCVCVZNBGNVCTRICGHDFCAMC.NSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. HDFC Asset Management is the large dot.

HDFC Asset Management competitors and peer comparison

Head to head with its named competitors (HDFCAMC.NS vs SBIFUNDS.NS vs ICICIAMC.NS vs NAM-INDIA.NS)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
HDFC Asset Management HDFCAMC.NS$12.0B-7%+12%80%35.5×n/a
SBI Funds Management SBIFUNDS.NS$10.8Bn/a+21%89%31.1×n/a
ICICI Prudential Asset Management ICICIAMC.NS$15.4B-11%+22%73%39.2×n/a
Nippon Life India Asset Management NAM-INDIA.NS$7.22B-4%+23%68%39.1×n/a

How HDFC Asset Management compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

HDFC Asset Management against its 20 peers (data as of 6 Nov 2026)
MeasureHDFCAMC.NSPeer medianRank in peer set
1-month return+14.5%+2.4%2nd highest of 21
6-month return-6.5%+7.2%6th lowest of 20
Distance from 52-week high-8.7%-12.4%7th highest of 21
Revenue growth (TTM)+12.0%+13.0%10th lowest of 21
Operating margin79.8%34.9%2nd highest of 21
Forward P/E35.5×13.8×2nd most expensive of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
HDFC Asset Management HDFCAMC.NSIndia$12.0B-7%+12%80%35.5×n/an/a
Invesco IVZUnited States$11.9B-1%+17%24%8.6×n/an/a
SEI Investments SEICUnited States$12.5B+15%+13%30%15.3×n/an/a
iA Financial IAG.TOCanada$13.1B+29%+13%59%13.9×n/an/a
IGM Financial IGM.TOCanada$13.3B+7%+20%36%14.0×n/an/a
SBI Funds Management SBIFUNDS.NSIndia$10.8Bn/a+21%89%31.1×n/an/a
Stifel Financial SFUnited States$10.7B-7%+8%22%10.3×n/an/a
Guosen Securities 002736.SZChina$13.9B-16%-10%34%7.9×n/an/a
Carlyle CGUnited States$14.1B-22%-44%14%10.2×n/an/a
DWS Group GmbH & Co. KGaA DWS.DEGermany$14.7B+7%+24%37%12.6×n/an/a
ICICI Prudential Asset Management ICICIAMC.NSIndia$15.4B-11%+22%73%39.2×n/an/a
Affiliated Managers AMGUnited States$9.39B+20%+12%22%9.1×n/an/a
Blue Owl Capital OWLUnited States$15.4B-7%+11%17%10.4×n/an/a
HealthEquity HQYUnited States$8.57B+22%+7%26%20.5×n/an/a
CVC Capital Partners CVC.ASNetherlands$16.9B+10%+14%57%18.1×n/an/a
Franklin Resources BENUnited States$17.1B+10%+8%15%10.6×n/an/a
TPG TPGUnited States$17.9B+4%+21%17%13.8×n/an/a
VZ Holding AG VZN.SWSwitzerland$8.03B+17%+9%45%24.1×n/an/a
Banca Generali BGN.MIItaly$7.73B+4%+17%38%15.3×n/an/a
Victory Capital VCTRUnited States$7.38B+40%+50%46%14.0×n/an/a
ICG ICG.LUnited Kingdom$7.32B+2%+6%60%11.9×n/an/a

Questions

Who are HDFC Asset Management's main competitors?
Named competitors: SBI Funds Management (SBIFUNDS.NS), ICICI Prudential AMC (ICICIAMC.NS), Nippon Life India Asset Management (NAM-INDIA.NS). The cockpit's measured peer set (industry) also includes Invesco (IVZ), SEI Investments (SEIC), iA Financial (IAG.TO), IGM Financial (IGM.TO), SBI Funds Management (SBIFUNDS.NS), Stifel Financial (SF).
Is HDFC Asset Management expensive compared with its peers?
On forward p/e it trades at 35.5× against a peer median of 13.8×, 2nd most expensive of 21 in its peer set.
How has HDFC Asset Management stock performed?
Over six months to 6 Nov 2026 the shares returned -6.5% against +7.2% for the median peer; over one year -1.2%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.