Stockrabit · Analysts
Questions across 37 calls

Abhijeet Sakhare

Kotak Securities

Computer Age Management Services Limited

Computer Age Management Services Limited CC-Jun24.pdf · 2024-08-05
Anuj, you mentioned about your excitement around the new business opportunities this new platform can create. So if you can elaborate on that, please? And a related question is that, generally, we viewed the RTA business as a business model, whic h has fairly stable fixed cost but with Google coming onboard, does it significantly variabilize your cost? And how does that -- what does that mean in terms of what you charge to your clients and how clients also look at your profit margins? That's the first question.
The second one is on the alternatives. Just wanted to get some sense how is that market evolving in terms of pricing? If you could with some examples around the large deals that you've done, whether these are the project level pricing or license type of deals or there are some AUM-linked pricing, if you could explain that will be very helpful.
Computer Age Management Services Limited CC-Dec23.pdf · 2024-02-07
Good morning everyone. My first question is, coming back to the non -MF businesses. Just putting all of them together, how would you kind of characterize the recurring or annuity nature of revenues versus something that is driven by volumes or transactions, if you can kind of give us some sense, broad sense on that piece of the business?
Got it. That's helpful. Secondly, I think Ram mentioned a couple of times on the account aggregator business, something like a reworking of the pla tform. So if you could talk a little more about it because I thought -- I mean, this was anyways sort of a fresh investment that has happened in the past couple of years. So from a monetization point of view or from a revenue accrual margin point of view, do we see this platform sort of the monetization getting right shifted because of whatever investments that are happening?
Computer Age Management Services Limited CC-Sep23.pdf · 2023-11-09
I joined a bit late so some of it could be repetitive, sorry for that. So, first question is that, on the non-MF side there is little bit of volatility on the insurance , if you could explain that first. And secondly, let’s say on a 12 month basis, is there a visibility could be the growth all of these businesses put together, we are delivering somewhere close to about 20%, 25% so does that run rate still hold when you look forward one to two years. Second question is that , when we look at the overall EBIT margin at around 40%, is it possible to kind of break it down, how the RTA business is doing and the rest of the business is doing. And the related one is that, are we largely done on the investment front on the non -MF bus inesses so from here on the translation of revenue growth to bottom line as Ram sir mentioned earlier, that should kind of continue as well?
And that 20% growth rate on the revenue front for non-MF, does that deliver even better growth rate on the EBIT or EBITDA front?

Nippon Life India Asset Management Limited

Nippon Life India Asset Management Limited CC-Jun24.pdf · 2024-07-19
So the first is a data question. I wanted to know what would be the closing equity book? I think the average is about INR 2.4 trillion.
And then sort of coming back to Chatterjee-sir on question on yields. So in one of the earlier questions around the current level of commission payouts, you were sort of giving a sense that it doesn't seem to be a matter of too much concern. We've seen almost, I think, 10 basis points sort of a correction on the equity yields on a YoY basis. But I guess, the pass-through for the distributor hasn't been to a similar extent. So what is your thought process around this? Where you're planning for the rest of the year or maybe 1 to 2 years, when would you kind of think about passing slightly higher share to the distributor as well?

HDFC Asset Management Company Limited

HDFC Asset Management Company Limited CC-Jun24.pdf · 2024-07-15
My first question is on yields. So, when I look at, let's say, on a sample of top four or five funds, which I guess would be attracting more than 50% of net flows. It seems like the distribution commissions, if you look at it in basis point terms, seems to have remained broadly unchanged over the last 12 months. Our understanding would have suggested maybe given t hat adjustment happens not on the back book, but on the incremental flows, at least some pass -through of the reduced TERs to the distribution commissions as well. So , if you can tell us what's the underlying dynamics that are driving this? Is it the contri bution of say for general market trends or anything else?
Okay. You're saying commission rates on SIP is same as t he rest of the book, right? There's no difference because of that...
HDFC Asset Management Company Limited CC-Mar24.pdf · 2024-04-19
My first question is that, I mean, what we've seen is that incrementally, I think retail money is sort of also fluctuating across categories and kind of quick to change preferences, right? So , to that extent, incrementally, I think you guys are gaining a lot of share in larger sized funds such as Balance Advantage or large cap or even mid -cap. So, I mean, at some point of time, do you want to optimize your yields given how funds move across categories? Or will it always be like a blended number and whatever the number comes out across different funds?
No, like this is in the context of the fact that the fund performance is very strong, right, to the extent that a lo t of these people come and ask for these funds, right? So , does it make sense to optimize for yields in the way that you are able to, it's to better protect your yields at an overall blended level?

Nuvama Wealth Management Limited

Nuvama Wealth Management Limited CC-Sep23.pdf · 2023-10-30
Good morning. Sir, to start off, I had a few clarifications on the Nuvama Wealth business. So, if you could just give some colour on what do you mean by MPIS? Like which are the products you're including here?
Okay. Because when I look at the yields, the implied yields are almost 2%, which looks higher for at least the investment funds part of the business. So, I'm guessing the higher yields is driven by products like MLDs and some of the other ones that you mentioned?

Kfin Technologies Limited

Kfin Technologies Limited CC-Mar24.pdf · 2024-04-30
Hi, good morning everyone. Just on the international slash alternatives, if it's possible to give you know further breakdown of let's say international and alternatives separately and then part B is that how much of this revenue is actually linked to AUM growth and how much of it is actually you know platform deals and something which is let's say one-time in nature.
And the hexagram part of it is, when you say it's platform, do we understand it as you know one -time or it's in part one -time and part of it is actually recurring and some sort of a license fee that is charged every year?
Kfin Technologies Limited CC-Sep23.pdf · 2023-10-23
yes. Hi. Just one number question is, if you could just share the headcount number for this quarter and last quarter. And the other one is that, when we look at the international business, the revenue run rate has almost doubled from about a couple of years back. But when do we start seeing margin numbers also kind of, inch closer to let's say, double digit levels as well?
Got it, Sreekanth. Just one small follow up. Is it still fair to assume that these contracts on the international side, some of the larger global players are still sort of keeping out? Because either they lack the local presence or the contract value itself is not very attractive for their size and scale?

Aditya Birla Sun Life AMC Limited

Aditya Birla Sun Life AMC Limited CC-Mar24.pdf · 2024-04-27
Good morning, everyone. So, the first one on the yield, like for some of the peers, there's been some year-end adjustments true-ups as well. Has that also played into our yield moment for this quarter?
Yes. Got it. And sir, the second was the 40%- 45% contribution from online channels that you mentioned, could you just elaborate on whether this is on an count basis or flow basis, and are these like the Groww, and Zerodha, type of channels or are there an y other digital online channels that are contributing?

CRISIL Limited

CRISIL Limited CC-Mar24.pdf · 2024-04-19
Hello. Good evening, everyone. Not sure if this was asked earlier. I'm sorry if it's getting repeated, but on the Research side, I just particularly wanted to know, has there been any impact of some of the large M&A deals that have happened in the sector in the past year and that leading to some vendor consolidation, and whether that's had, let's say, some sort of a one-off impact for us?
Got that. Amish, just to capture overall broader trends better, is it possible to give some sense, I mean, right now or maybe later in the future around some components of the research business around different scope of work or verticals or geographies, whichever way kind of you would want us to look at, that would be very helpful.

Anand Rathi Wealth Limited

Anand Rathi Wealth Limited CC-Dec23.pdf · 2024-01-15
Good afternoon, everyone. First question is on mutual fund sales. So any broad industry-level observations that you can share in terms of how do you see commission payouts been trending for the past. Let’s say, six to 12 months in terms of it’s a large, mid-, smaller AMCs, NFOs versus older funds? Any broad sense that you can share will be very helpful.
This compression is more of a pass-through, right? Like not really AMC is trying to increase their share of the overall TER. How are you seeing it?

UTI Asset Management Company Limited

UTI Asset Management Company Limited CC-Mar24.pdf ·
The first question is a clarification on the balance sheet. What we noticed was that there was a movement between September and March from property, plants, and equipment to investment property. So, if you could just explain that, please?
Sir, the second question going back to yields . If you could just help us, like sequentially, what has been the movement in overall equity and hybrid funds? Is this 5 basis point movement from quarter start to quarter end?