Aditya Birla Sun Life AMC (ABSLAMC IN) – Q2FY27 Result Update – Net equity flow market share a key to re-rating – BUY
Published on 21 Oct 2026
ABSLAMC saw a good quarter as core income was 3.4% higher due to better revenue yield at 43.1bps which increased by 0.5bps QoQ. Positive yield movement QoQ was largely driven by a favorable asset mix change, with equity share increasing by 78bps QoQ to 41%. Superior 1-year equity performance has started reflecting in 3-year bucket and which has resulted in net equity flow market share improving to 1.2% for H1FY27 from 0.3% for FY26. AMC’s flow share in flagship schemes remains higher than its stock market share. Growth momentum in alternate business continues as share of non-MF revenue inched up slightly QoQ. Execution of strategies to increase direct share in equity distribution mix remains key monitorable. We maintain multiple at 27.5x on Sep’28 core EPS with TP at INR1,200. Retain ‘BUY’.
