Computer Age Management Services has posted moderate 6.49% growth in net sales (including other operating income) to Rs 242.37 crore in the quarter ended September 2022 (Q2FY2023). Operating profit margin has declined from 46.46% to 43.76%, leading to 0.29% rise in operating profit to Rs 106.06 crore. Employee cost increased from 35.55% to 37.16%. Other expenses rose from 17.99% to 19.08%. Other direct service cost rose from 9.70% to 11.30%. Other income rose 69.02% to Rs 7.42 crore. PBIDT gained 3.03% to Rs 113.48 crore. Provision for interest rose 2.26% to Rs 1.81 crore. Loan funds rose to Rs 18.41 crore as of 30 September 2022 from Rs 16.57 crore as of 30 September 2021. Sundry debtors were higher at Rs 57.08 crore as of 30 September 2022 compared to Rs 37.19 crore as of 30 September 2021. Cash and bank balance rose to Rs 193.94 crore as of 30 September 2022 from Rs 168.06 crore as of 30 September 2021. Investments rose to Rs 335.19 crore as of 30 September 2022 from Rs 294.62 crore as of 30 September 2021. PBDT rose 3.05% to Rs 111.67 crore. Provision for depreciation increased 23.70% to Rs 14.72 crore. Fixed assets increased to Rs 181.03 crore as of 30 September 2022 from Rs 138.90 crore as of 30 September 2021. Intangible assets increased from Rs 141.61 crore to Rs 143.23 crore. Profit before tax grew 0.50% to Rs 96.95 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 24.85 crore, compared to Rs 23.91 crore. Effective tax rate was 25.63% compared to 24.78%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 0.58% to Rs 72.14 crore. Equity capital increased from Rs 48.83 crore as of 30 September 2021 to Rs 48.99 crore as of 30 September 2022. Per share face Value remained same at Rs 10. Promoters stake was 19.92% as of 30 September 2022, compared to 30.96% as of 30 September 2021. Business highlights: Mutual Funds: CAMS AAuM at Rs 27.1 lakh crore is at an all time high with an increase of 3.1% over Q1FY23 – reversing the trend of last two quarters of muted growth. CAMS serviced funds continue to maintain a dominant 69% market share in overall AAuM. Alternative Services: Alternative Services vertical continued its high growth trajectory recording 32% Y-o-Y growth in revenue in Q2FY23. CAMS WealthServ, the digital onboarding platform for this segment was well received by the market with 50+ signups since launch CAMS insurance Repository: PolicyGenie Deep Contact Tracing Solution, uniquely offered by CAMS Insurance Repository, assisted insurance companies in closing Rs 100 crore of unclaimed benefits till date. eInsurance Account & e-Policy doubled in volume over Q1FY23, on the back of sustained news of KYC requirements, eIA and e-Policy CAMS Finserv Account Aggregator: AA + TSP offering has been gaining momentum with 35+ mandates till date. SEBI and PFRDA have released circulars to enable MFs, depositories and Pension funds to join the AA ecosystem CAMS Digital properties: CAMS digital properties – myCAMS & edge360, clocked the highest Q-o-Q volume. Growth at > 10% in the last 2 quarters which was in sharp contrast to the volume decline seen by other electronic channels. MFCentral solidifies CAMSs role in the MF ecosystem by providing APIs to ecosystem to digitize the mutual fund transaction journey CAMS NPS: CAMS launched the industry first CRA platform on cloud in March 2022. eNPS, POP, Corporate and Government Segments are live. Within a short span of time, achieved 9.5% share and number 2 position in eNPS segment. C-Sat Score consistently over 90%. Financial Performance H1FY2023 Net sales (including other operating income) of Computer Age Management Services has increased 11.72% to Rs 479.02 crore. Operating profit margin has declined from 46.33% to 42.57%, leading to 2.67% rise in operating profit to Rs 203.94 crore. Employee cost increased from 35.75% to 38.27%. Other expenses rose from 17.92% to 19.15%. Other direct service cost rose from 9.62% to 11.30%. Other income rose 33% to Rs 11.85 crore. PBIDT rose 3.97% to Rs 215.79 crore. Provision for interest rose 0.56% to Rs 3.59 crore. Loan funds rose to Rs 18.41 crore as of 30 September 2022 from Rs 16.57 crore as of 30 September 2021. Sundry debtors were higher at Rs 57.08 crore as of 30 September 2022 compared to Rs 37.19 crore as of 30 September 2021. Cash and bank balance rose to Rs 193.94 crore as of 30 September 2022 from Rs 168.06 crore as of 30 September 2021. Investments rose to Rs 335.19 crore as of 30 September 2022 from Rs 294.62 crore as of 30 September 2021. PBDT rose 4.03% to Rs 212.2 crore. Provision for depreciation rose 25.89% to Rs 28.35 crore. Fixed assets increased to Rs 181.03 crore as of 30 September 2022 from Rs 138.90 crore as of 30 September 2021. Intangible assets increased from Rs 141.61 crore to Rs 143.23 crore. Profit before tax grew 1.32% to Rs 183.85 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 47.15 crore, compared to Rs 45.66 crore. Effective tax rate was 25.65% compared to 25.16%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 0.82% to Rs 136.92 crore.
| Computer Age Management Services : Consolidated Results | |||||||||
| Particulars | 2209 (3) | 2109 (3) | Var (%) | 2209 (6) | 2109 (6) | Var (%) | 2203 (12) | 2103 (12) | Var (%) |
| Net Sales (including other operating income) | 242.37 | 227.60 | 6 | 479.02 | 428.77 | 12 | 909.67 | 705.50 | 29 |
| OPM (%) | 43.76 | 46.46 | ? | 42.57 | 46.33 | ? | 46.62 | 41.96 | ? |
| OP | 106.06 | 105.75 | 0 | 203.94 | 198.64 | 3 | 424.13 | 296.00 | 43 |
| Other Inc. | 7.42 | 4.39 | 69 | 11.85 | 8.91 | 33 | 17.27 | 29.76 | -42 |
| PBIDT | 113.48 | 110.14 | 3 | 215.79 | 207.55 | 4 | 441.40 | 325.76 | 35 |
| Interest | 1.81 | 1.77 | 2 | 3.59 | 3.57 | 1 | 7.13 | 7.90 | -10 |
| PBDT | 111.67 | 108.37 | 3 | 212.20 | 203.98 | 4 | 434.27 | 317.86 | 37 |
| Depreciation | 14.72 | 11.90 | 24 | 28.35 | 22.52 | 26 | 51.62 | 43.41 | 19 |
| PBT | 96.95 | 96.47 | 0 | 183.85 | 181.46 | 1 | 382.65 | 274.45 | 39 |
| Share of Profit/(Loss) from Associates | 0.00 | 0.00 | – | 0.00 | 0.00 | – | 0.00 | 0.00 | – |
| PBT before EO | 96.95 | 96.47 | 0 | 183.85 | 181.46 | 1 | 382.65 | 274.45 | 39 |
| EO Income | 0.00 | 0.00 | – | 0.00 | 0.00 | – | 0.00 | 0.00 | – |
| PBT after EO | 96.95 | 96.47 | 0 | 183.85 | 181.46 | 1 | 382.65 | 274.45 | 39 |
| Taxation | 24.85 | 23.91 | 4 | 47.15 | 45.66 | 3 | 95.70 | 69.16 | 38 |
| PAT | 72.10 | 72.56 | -1 | 136.70 | 135.80 | 1 | 286.95 | 205.29 | 40 |
| Minority Interest (MI) | -0.04 | 0.00 | – | -0.22 | 0.00 | – | 0.00 | 0.00 | – |
| Net profit | 72.14 | 72.56 | -1 | 136.92 | 135.80 | 1 | 286.95 | 205.29 | 40 |
| EPS (Rs)* | 58.9 | 59.2 | ? | 55.9 | 55.4 | ? | 58.6 | 41.9 | ? |
| * Annualized on current equity of Rs 48.99 crore. Face Value: Rs 10 per share, Figures in Rs crore | |||||||||
| Source: Capitaline Corporate Database |
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