UTI Asset Management Company Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript UTI Asset Management Company Ltd filed with BSE on 28 Apr 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
UTI AMC reported FY26 standalone core income of Rs. 1,255 crore versus Rs. 1,180 crore in FY25, with mutual fund AUM rising to Rs. 3.88 lakh crore from Rs. 3.39 lakh crore last year. Management highlighted growth in SIP flows, digital initiatives including the VAANI AI contact centre, and reappointment as a portfolio manager for EPFO and CMPFO. The board declared a dividend of Rs. 40 per share for FY26, and management discussed one-off employee costs related to VRS and family pension provisions during the quarter.
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Numbers mentioned
Core income (sale of services), standalone: Rs. 1,255 crores (FY26)
p. 6
“On a standalone basis, the core income i.e. sale of services for FY26 amounted to Rs. 1,255 crores as compared to Rs. 1,180 crores for FY25.”
Sandeep Samsi, page 6 of the filed PDF · View the filing
Normalized core PAT, standalone: Rs. 460 crores (FY26)
p. 6
“The normalized core PAT for FY26 is Rs. 460 crores as compared to Rs. 447 crores in FY25.”
Sandeep Samsi, page 6 of the filed PDF · View the filing
Normalized PAT, standalone: Rs. 643 crores (FY26)
p. 6
“The normalized PAT for FY26 is Rs. 643 crores as against Rs. 653 crores in FY25.”
Sandeep Samsi, page 6 of the filed PDF · View the filing
Core income (sale of services), consolidated: Rs. 1,539 crores (FY26)
p. 6
“On a consolidated basis, the core income sale of services for FY26 amounted to Rs. 1,539 crores as compared to Rs. 1,445 crores for FY25.”
Sandeep Samsi, page 6 of the filed PDF · View the filing
Mutual fund AUM: Rs. 3.88 lakh crores (FY26)
p. 4
“Our mutual fund AUM reached Rs 3.88 lakh crores compared to Rs 3.39 lakh crores last year.”
Vetri Subramaniam, page 4 of the filed PDF · View the filing
UTI Group total AUM: Rs 23.42 lakh crores (as of March 31, 2026)
p. 4
“UTI Group's total AUM stood at Rs 23.42 lakh crores as of March 31, 2026.”
Vetri Subramaniam, page 4 of the filed PDF · View the filing
New investor PANs added: 7.16 lakh (FY26)
p. 4
“In FY26, we added 7.16 lakh new investors as identified by their PANs, taking our total folio base to 1.38 crores.”
Vetri Subramaniam, page 4 of the filed PDF · View the filing
Dividend per share: Rs. 40 (FY26)
p. 7
“UTI AMC has declared a dividend of Rs. 40 per share for the Financial Year ‘25-26.”
Vetri Subramaniam, page 7 of the filed PDF · View the filing
Gross sales market share: 6.1% (FY26)
p. 5
“UTI was able to capture a market share of 5.5% of the gross sales of the industry during this quarter and market share of 6.1% of the gross sales for the financial year FY26.”
Sandeep Samsi, page 5 of the filed PDF · View the filing
SIP AUM: Rs. 39,813 crores (as of March 2026)
p. 6
“Our SIP AUM witnessed a growth of 5.91% over the corresponding quarter of last year, reaching to Rs. 39,813 crores as of March ‘26.”
Sandeep Samsi, page 6 of the filed PDF · View the filing
Weighted average yield: around 32 basis points
p. 15
“So, combined put together, depending on our asset mix, is weighted average yield is around 32.”
Vinay Lakhotia, page 15 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Employee cost run rate, standalone — Rs. 90 crores to Rs. 95 crores per quarter · FY27
stated firmly by Vinay Lakhotia
p. 7
“the run rate on a quarterly basis should be around Rs. 90 crores to Rs. 95 crores for the standalone entity and Rs. 125 crores to Rs. 130 crores on the consolidated firm.”
Vinay Lakhotia, page 7 of the filed PDF · View the filing
Other administrative expenses growth — 7% to 8% standalone, around 10% consolidated · FY27
stated firmly by Vinay Lakhotia
p. 8
“The guidance for the other administrative expenses, it should increase close to around 7% to 8% for the standalone entity and maybe 100 or 200 basis points more for the consol entity.”
Vinay Lakhotia, page 8 of the filed PDF · View the filing
Overall yield — a basis point or two dilution · FY27
stated conditionally by Vinay Lakhotia
p. 11
“So, maybe a basis point or two dilution in the overall yield number per se for Financial Year 26-27.”
Vinay Lakhotia, page 11 of the filed PDF · View the filing
New customer/PAN acquisition
stated as an aspiration by Vetri Subramaniam
p. 10
“So, this year, we are targeting to grow that number significantly.”
Vetri Subramaniam, page 10 of the filed PDF · View the filing
SIF product launch — at least one fund · current year
stated firmly by Vetri Subramaniam
p. 12
“We do plan to, however, launch at least one fund in the SIF category during this current year.”
Vetri Subramaniam, page 12 of the filed PDF · View the filing
Passive fund launches — coming year
stated as an aspiration by Vetri Subramaniam
p. 4
“We expect our momentum in this passive business will continue to be supported by a robust pipeline of new launches during the coming year.”
Vetri Subramaniam, page 4 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management explained one-off costs related to VRS, family pension revision, and Labour Code provisioning, and gave quarterly run-rate guidance for employee and other expenses going forward.
Answered by Vinay Lakhotia
Asked by Gaurav Jain: What caused the sharp year-on-year increase in employee and other expenses, and what is the guidance for FY27?
p. 7
“So, on the employee cost, there is a one-off on account of VRS and family pension. The total quantum of that is close to around Rs. 130 crores that we provision in the Q3 of this particular financial year.”
Vinay Lakhotia, page 7 of the filed PDF · View the filing
Management said volatility did not particularly accelerate acquisition in March itself, though February new SIP numbers were relatively strong versus the industry.
Answered by Sandeep Samsi
Asked by Naman Maheshwari: Did the company see accelerated first-time SIP customer acquisition during the market volatility in March?
p. 10
“Not so much, because sometimes, sharp market correction also pause people's thought processes.”
Sandeep Samsi, page 10 of the filed PDF · View the filing
Management said the TER cut on exit load will be passed to intermediaries with no material impact on AMC yield, though a slight yield dilution is expected from asset mix shifts.
Answered by Vinay Lakhotia
Asked by Meghna Luthra: What is the impact of SEBI's revised norms effective April 1st on TER and yield?
p. 11
“So, the TER on account of exit load has been cut by five basis points. And obviously, there have been some rationalization in the base TER as well. But as a fund house, we are of the view that whatever impact is there, that will be passing on to the intermediaries.”
Vinay Lakhotia, page 11 of the filed PDF · View the filing
Management said the strategy is to grow the SIP book and diversify sales across a wider set of funds rather than relying on a few flagship schemes.
Answered by Vetri Subramaniam
Asked by Mohit Mangal: Equity net flows have been negative — what is being done to improve net sales in equity?
p. 12
“There are two key things you need to do. One is, of course, as I mentioned earlier, we need to raise the SIP book, right?”
Vetri Subramaniam, page 12 of the filed PDF · View the filing
Management attributed weak international performance to global investors pulling money from India broadly, calling it a cyclical headwind outside the company's control.
Answered by Vetri Subramaniam
Asked by Mohit Mangal: How is the international business performing and what is the outlook for FY27?
p. 14
“if you look at Calendar ‘25, and just the 1st Quarter of the Calendar ‘26, effectively foreigners have pulled out $40 billion out of India.”
Vetri Subramaniam, page 14 of the filed PDF · View the filing
Management gave yield figures by segment and explained a philosophy of maintaining diversified fund strategies across market styles rather than optimizing for top-quartile rankings.
Answered by Vinay Lakhotia
Asked by Vijaya Rao: What is the yield breakup by segment, and what is being done about fund underperformance?
p. 15
“Equity and hybrid is 75 basis points. ETF and index fund put together is around 8. Cash and arbitrage around 10 basis points. And income fund is around 18 to 19 basis points.”
Vinay Lakhotia, page 15 of the filed PDF · View the filing
Management said profits are largely paid out as dividends and there are no plans for a buyback or to add further to the cash balance.
Answered by Vetri Subramaniam
Asked by Mahesh A.: Given large cash and investment balances on the balance sheet, are there any buyback plans?
p. 16
“There is no need to add to that cash pile. But we also believe company of our kind, there is a need to have some investment or rather some liquidity on the books, some cash on the books.”
Vetri Subramaniam, page 16 of the filed PDF · View the filing
Risks flagged
Global investors pulling money out of India broadly, affecting the international business
p. 14
“our international business honestly is just feeling the pain of that outflow front and center.”
Vetri Subramaniam, page 14 of the filed PDF · View the filing
Currency depreciation hurting bond investor returns in international products
p. 14
“it doesn't help when your currency drops 9% over the year, and then your bond investors also end up with a hugely negative return.”
Vetri Subramaniam, page 14 of the filed PDF · View the filing
Historical concentration of net sales in a narrow set of flagship schemes causing cyclicality
p. 13
“some of our strategies have seen large outflows over the last few years.”
Vetri Subramaniam, page 13 of the filed PDF · View the filing
Quality growth strategy underperformance linked to unfavorable market season
p. 16
“I would only say our biggest problem has been more in the quality growth, which to my mind is more a function of the season of the market.”
Vetri Subramaniam, page 16 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.