India’s largest registrar and transfer agent of mutual funds (a SEBI-regulated entity) with an aggregate market share of ~68 percent (based on Quarterly AAuM), is in focus on the stock exchanges, following the company’s announcement of a plan to grow EBITDA by 25 percent in the coming years, and targets to grow revenue by Rs. 200 crore annually.
With a market cap of Rs. 19,497.5 crores, the shares of Computer Age Management Services Limited closed in the red at Rs. 3,936.5 on Friday, as against its previous closing price of Rs. 3,955.5 on BSE.
Management Guidance
Computer Age Management Services Limited (CAMS) has laid out an ambitious growth roadmap, focusing on expanding its revenue base and strengthening its position across both mutual fund and non-mutual fund segments.
During a recent conference call, the management outlined key strategic priorities for the coming years. The company is targeting 20 percent annual growth in its non-mutual fund business and 15 percent annual growth in its alternatives business. In total, CAMS expects to achieve an annual revenue increase of Rs. 200 crore, of which Rs. 150 crore is projected from its mutual fund operations and Rs. 50 crore from non-mutual fund activities. This reflects the company’s intent to diversify its income mix and maintain consistent growth momentum across all verticals.
CAMS is also working to enhance profitability within its non-mutual fund business, projecting EBITDA margins to reach 25 percent in the near term. This improvement will be driven by increased operational efficiency, a sharper focus on scalable business lines, and disciplined financial management.
To achieve these targets, the company plans to implement tight cost control measures, aiming to restrict annual cost growth to 10–11 percent. This focus on expense management is expected to contribute to margin expansion and strengthen the company’s overall financial performance.
Through this growth strategy, CAMS aims to build a more balanced and resilient business model. While the mutual fund segment continues to be a key revenue driver, the non-mutual fund operations are expected to play an increasingly important role in the company’s long-term growth and profitability.
Financials & More
CAMS reported a marginal growth in its revenue from operations, showing a year-on-year increase of over 3 percent from Rs. 365 crores in Q2 FY25 to Rs. 377 crores in Q2 FY26. In contrast, its net profit decreased during the same period from Rs. 121 crores to Rs. 114 crores, representing a decline of around 6 percent YoY.
The company reported its highest-ever quarterly revenue in Q2 FY26, supported by robust growth across both mutual fund (MF) and non-mutual fund (non-MF) segments. MF revenue increased by 6.4 percent sequentially and 3.2 percent YoY, while non-MF revenue rose sharply by 17.9 percent QoQ and 15 percent YoY.
As of September 2025 (Q2 FY26), CAMS’ revenue mix comprised 73.4 percent from mutual fund – asset-based services, 12.2 percent from mutual fund – non-asset-based services, and 14.4 percent from non-mutual fund operations.
Computer Age Management Services Limited (CAMS) is India’s largest registrar and transfer agent (RTA) for mutual funds, commanding a dominant market share of ~68 percent. The company is a financial infrastructure and services provider engaged in offering mutual fund services, alternative investment fund services, payment services, banking and non-banking services.
Its offerings encompass digital onboarding services, AML services, transaction processing, record management, fund accounting & reporting, and reconciliation & creation of MIS and reporting systems. Additionally, intermediaries’ revenue and investor service management.
The company’s marquee shareholders include LIC, HDB, Fidelity, Franklin Templeton, Seafarer, WhiteOak, Vanguard, Government Pension Fund Global, Aditya Birla Sun Life Group, and J.P. Morgan.
Written by Shivani Singh
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