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← CockpitCompetitor Analysis › ICICIAMC.NS ICICI Prudential Asset Management CompanyOpen in the cockpit ↗

ICICI Prudential Asset Management CompanyICICIAMC.NSCompetitor analysis, valuation and peers

India · INR·Financials›Investment Managers

One of India's largest mutual fund managers, a joint venture between ICICI Bank and UK's Prudential plc.

≈ India's smaller BlackRock/T. Rowe PriceMomentum neutral 42
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$15.4B
US dollars, full cap
Free float
11%
of shares outstanding
$/day
$11.1M
20-day average traded
Fwd P/E
39.2×
forward earnings
ROIC−WACC
n/a
WACC 10.1%
Hurdle
n/a
no reverse DCF
Next earnings
117 days
3 Mar 2027
Close · INR₹2,936
1D-1.4%
1W+8.5%
1M-4.0%
3M-4.7%
6M-11.1%
YTD+10.3%
1Yn/a
ATR %2.8%
52w lowhigh18.7% off high

What ICICI Prudential Asset Management does

One of India's largest mutual fund managers, a joint venture between ICICI Bank and UK's Prudential plc.

Earns an annual fee taken from the assets in its funds, so income tracks fund size and mix, with equity funds paying more than debt funds and the regulator, SEBI, capping what can be charged. Monthly savings plans from retail savers feed steady inflows. ICICI Bank and Prudential are the two sponsors.

In one line: India's smaller BlackRock/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: narrow (brand, distribution, scale). ICICI Bank's distribution network and Prudential's asset-management expertise give strong scale in a fee-based business.

Headquarters: Mumbai, India · Founded: 1993 · Employees: 3,585

Named competitors

ICICI Prudential Asset Management at a glance

Size ICICI Prudential Asset Management (ICICIAMC.NS) is an India Financials company (Investment Managers) with a market value of $15.4B, the 70th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹2,936 on 6 Nov 2026.

Performance Over six months the shares fell 11.1%, against +4.2% for the median peer and 0.0% for the India market (cap-weighted) — 4th lowest of 20 in its peer set.

Growth Revenue grew 22.2% over the last twelve months (peer median +11.4%); the operating margin is 73.0% (peer median 35.9%).

Valuation It trades at 39.2× forward earnings against a peer median of 13.2× (2nd most expensive of 21).

Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).

Relative performance

809010011011 May 202611 Aug 20266 Nov 2026Peer median 101ICICIAMC.NS 91
Six months, rebased to 100: ICICI Prudential Asset Management against the median of its 20 peers (local-currency closes).

ICICI Prudential Asset Management financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₹64.9B₹59.0B₹48.3B₹34.9B₹28.5B
Revenue growth—+22%+39%+22%—
Gross profit₹58.8B₹53.8B₹44.2B₹32.7B₹27.0B
EBITDA₹48.5B₹45.8B₹36.8B₹28.2B₹21.0B
Net income₹35.3B₹33.0B₹26.5B₹20.5B₹15.2B
Free cash flown/a₹32.2B₹22.4B₹17.8B₹14.2B
Capital expendituren/a₹1.15B₹4.12B₹546M₹410M
Total debt₹0₹1.70B₹1.73B₹1.41B₹1.16B

Quarterly statements and history in the cockpit →

ICICI Prudential 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%-10%0%+10%+20%OWLDWSCGCVC002736BENIGMTPGIAGSEICHDFCAMCIVZ600999PSPGHNAMUNSFTROW601066ICICIAMC.NS6-month return →1-month return →
Up and to the right = strong over both horizons. ICICI Prudential Asset Management is the large dot.

Fundamentals: revenue growth against valuation

-10%0%+10%+20%10×20×30×40×OWLDWSCGCVC002736BENIGMTPGIAGSEICHDFCAMCIVZ600999PSPGHNAMUNSBIFUNDSTROW601066ICICIAMC.NSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. ICICI Prudential Asset Management is the large dot.

ICICI Prudential Asset Management competitors and peer comparison

Head to head with its named competitors (ICICIAMC.NS vs HDFCAMC.NS vs SBIFUNDS.NS vs NAM-INDIA.NS)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
ICICI Prudential Asset Management ICICIAMC.NS$15.4B-11%+22%73%39.2×n/a
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
Nippon Life India Asset Management NAM-INDIA.NS$7.22B-4%+23%68%39.1×n/a

How ICICI Prudential 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.

ICICI Prudential Asset Management against its 20 peers (data as of 6 Nov 2026)
MeasureICICIAMC.NSPeer medianRank in peer set
1-month return-4.0%+2.4%4th lowest of 21
6-month return-11.1%+4.2%4th lowest of 20
Distance from 52-week high-18.7%-18.2%11th highest of 21
Revenue growth (TTM)+22.2%+11.4%3rd highest of 21
Operating margin73.0%35.9%4th highest of 21
Forward P/E39.2×13.2×2nd 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
ICICI Prudential Asset Management ICICIAMC.NSIndia$15.4B-11%+22%73%39.2×n/an/a
Blue Owl Capital OWLUnited States$15.4B-7%+11%17%10.4×n/an/a
DWS Group GmbH & Co. KGaA DWS.DEGermany$14.7B+7%+24%37%12.6×n/an/a
Carlyle CGUnited States$14.1B-22%-44%14%10.2×n/an/a
CVC Capital Partners CVC.ASNetherlands$16.9B+10%+14%57%18.1×n/an/a
Guosen Securities 002736.SZChina$13.9B-16%-10%34%7.9×n/an/a
Franklin Resources BENUnited States$17.1B+10%+8%15%10.6×n/an/a
IGM Financial IGM.TOCanada$13.3B+7%+20%36%14.0×n/an/a
TPG TPGUnited States$17.9B+4%+21%17%13.8×n/an/a
iA Financial IAG.TOCanada$13.1B+29%+13%59%13.9×n/an/a
SEI Investments SEICUnited States$12.5B+15%+13%30%15.3×n/an/a
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
China Merchants Securities 600999.SSChina$20.1B+3%-8%76%6.8×n/an/a
Pershing Square PSUnited States$20.6B+24%+67%37%84.9×n/an/a
Partners PGHN.SWSwitzerland$21.3B-24%+9%56%16.7×n/an/a
Amundi AMUN.PAFrance$21.7B+9%+1%23%11.9×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
T. Rowe Price TROWUnited States$23.1B+4%+7%36%10.8×n/an/a
CSC Financial 601066.SSChina$23.4B-3%-2%49%14.2×n/an/a

Questions

Who are ICICI Prudential Asset Management's main competitors?
Named competitors: HDFC Asset Management (HDFCAMC.NS), SBI Funds Management (SBIFUNDS.NS), Nippon Life India Asset Management (NAM-INDIA.NS). The cockpit's measured peer set (industry) also includes Blue Owl Capital (OWL), DWS Group GmbH & Co. KGaA (DWS.DE), Carlyle (CG), CVC Capital Partners (CVC.AS), Guosen Securities (002736.SZ), Franklin Resources (BEN).
Is ICICI Prudential Asset Management expensive compared with its peers?
On forward p/e it trades at 39.2× against a peer median of 13.2×, 2nd most expensive of 21 in its peer set.
How has ICICI Prudential Asset Management stock performed?
Over six months to 6 Nov 2026 the shares returned -11.1% against +4.2% for the median peer.

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.