Prudent Corporate Advisory Services (PRUDENT IN) – Q1FY27 Result Update – Strong CAGR in core earnings led by QAAuM growth – ACCUMULATE
Published on 28 Jul 2026
PRUDENT saw a strong quarter as EBITDA was 23% ahead due to better revenue (led by higher QAAuM) and lower distribution cost. QAAuM grew by 4.0% QoQ (industry equity 2.9%). Commission was 3bps lower at 57bps due to GST related change. Net MF yield was up 3bps QoQ to 31%; company expects this yield level to sustain. New partner addition was up to 600 per month from run-rate of 413 in FY26 as competitive advantage resulted in GST unregistered distributors seeking platform support. We raise core PAT for FY27/28E by 5% each. We increase multiple to 37.5x from 35x on Mar’28 core EPS and raise TP to INR 3,175 from INR 2,875. Retain ‘ACCUMULATE’.
