June 25 SIP flows at ₹28,464 Crore; SIP stoppage at 62.7%

12 Aug 2025 , 09:17 AM

MONTHLY SIP FLOWS CONTINUES TO SET RECORDS

The progressive fall in monthly SIP flows between Dec-24 and Mar-25 was arrested in April. Since then, SIP flows have shown an upward trend, getting to lifetime highs in July 2025 at ₹28,464 Crore. Gross SIP flows in June 2025 were 22.0% above July 2024.

Monthly MF Data	Monthly SIP Inflows (₹ Crore)
Jul-24	23,332
Aug-24	23,547
Sep-24	24,509
Oct-24	25,323
Nov-24	25,320
Dec-24	26,459
Jan-25	26,400
Feb-25	25,999
Mar-25	25,926
Apr-25	26,632
May-25	26,688
Jun-25	27,269
Jul-25	28,464

Data Source: AMFI

Gross SIP flows into mutual funds averaged ₹26,045 Crore a month in the rolling 12-month period; the best in comparison to previous 8 years. Since October 2024, monthly gross SIP flows have consistently been above ₹25,000 Crore a month.

SIP GROWTH CONTINUES DESPITE MARKET UNCERTAINTY

The table captures month-wise SIP flows into mutual funds since April 2017. Each milestone of an additional ₹1,000 Crore has been highlighted in bold.

Month	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
March		25,926	19,271	14,276	12,328	9,182	8,641	8,055	7,119
February		25,999	19,187	13,686	11,438	7,528	8,513	8,095	6,425
January		26,400	18,838	13,856	11,517	8,023	8,532	8,064	6,644
December		26,459	17,610	13,573	11,305	8,418	8,518	8,022	6,222
November		25,320	17,073	13,306	11,005	7,302	8,273	7,985	5,893
October		25,323	16,928	13,041	10,519	7,800	8,246	7,985	5,621
September		24,509	16,042	12,976	10,351	7,788	8,263	7,727	5,516
August		23,547	15,814	12,693	9,923	7,792	8,231	7,658	5,206
July	28,464	23,332	15,245	12,140	9,609	7,831	8,324	7,554	4,947
Jun	27,269	21,262	14,734	12,276	9,156	7,917	8,122	7,554	4,744
May	26,688	20,904	14,749	12,286	8,819	8,123	8,183	7,304	4,584
April	26,632	20,371	13,728	11,863	8,596	8,376	8,238	6,690	4,269

Data Source: AMFI

Here are two takeaways from the 8-year SIP flow data. Milestones had slowed post December 2024, but we just saw 2 milestones in the last 2 months. At this pace, the SIP flows may be on target to touch ₹30,000 Crore on a monthly basis.

READING THROUGH THE SIP TICKET STORY?

Since FY22, SIP flows have been progressively improving each year; with FY25 being the best full year by a margin; while FY26 promises to be even better.

Financial Year	Gross Annual SIP flows (₹ Crore)	Average Monthly SIP Ticket (AMST)	YOY Accretion in (%)
FY16-17	₹43,921 Crore	₹3,660 Crore
FY17-18	₹67,190 Crore	₹5,600 Crore	53.01%
FY18-19	₹92,693 Crore	₹7,725 Crore	37.95%
FY19-20	₹100,084 Crore	₹8,340 Crore	7.96%
FY20-21	₹96,080 Crore	₹8,007 Crore	-3.99%
FY21-22	₹124,566 Crore	₹10,381 Crore	29.65%
FY22-23	₹155,972 Crore	₹12,998 Crore	25.21%
FY23-24	₹199,219 Crore	₹16,602 Crore	27.73%
FY24-25	₹289,352 Crore	₹24,113 Crore	45.24%
FY25-26	₹327,159 Crore	₹27,263 Crore	13.06%

Data Source: AMFI

The FY26 gross annual SIP flows is 4 months data annualized. However, these trends have held in the past, and only bettered most times. The good news is that, despite the temporary lull, the average monthly SIPs are 13.1% higher over FY25.

SIP FOLIOS ARE NOW CLEANER AND MEANER

SIP folios in July 2025 bounced for the third month in a row; after 4 months of contraction; triggered by the defunct SIP folios clean-up. Gross SIP folio accretions in July 2025 were higher MOM at 68.69 Lakhs. This is the highest gross SIP folio accretion since July 2024. With a sharp fall in the SIP stoppage ratio from 353% in April to 62.7% in July 2025; outstanding SIP folios bounced from 919.32 Lakhs as of June 2025 to 944.97 Lakh folios as of June 2025; but still  short of March 2025 levels. The sharp folio contraction between January and April 2025 was due to a reconciliation to clean up legacy dormant SIP folios; which is over.

What about SIP AUM yoy? Between June 2025 and July 2025, the SIP AUM tapered from ₹15,30,574 Crore to ₹15,19,456 Crore; largely due to MTM losses on market correction. While AUM growth can be cyclical, it is the folio growth that needs to sustain for SIPs.

SIP STOPPAGE RATIO – MODERATES FROM 353% TO 63%

The gap between gross SIP folios reported by AMFI, and net SIP flows is explained by SIP stoppage ratio. It is the ratio of SIP accounts discontinued to new SIP accounts opened.

Apr-24	May-24	Jun-24	Jul-24	Aug-24	Sep-24	Oct-24	Nov-24	Dec-24
52.24%	88.38%	58.68%	51.40%	57.14%	60.72%	60.91%	79.12%	82.75%
Jan-25	Feb-25	Mar-25	FY25	Apr-25	May-25	Jun-25	Jul-25	FY26
109.15%	122.76%	128.27%	75.63%	352.79%	72.12%	77.77%	62.66%	125.63%

Data Source: AMFI

Between July and December 2024, SIP stoppage spiked due to market uncertainty. Between Jan-25 and Apr-25, the spike in SIP stoppage ratio was due to the folio reconciliation. With the recon completed, the SIP stoppage ratio has moderated to 62.66% in July 2025. That is high in comparative terms, but should gradually stabilize.

A final word. For FY26, the cumulative SIP stoppage ratio at 125.63% is still distorted by the April spike impact. The SIP folio clean-up resulted in extinguishing about 1.43 Crore folios. So, the FY26 data will take time to moderate and be comparable.