SBI Funds Management Ltd (SBI AMC)

₹2,100 - ₹3,500

Platform	Last Traded Price	Min Quantity
★★★★☆	₹2,100	37	Visit
★★★★☆	₹2,600	473	Visit
★★★★★☆	₹2,700	642	Visit
★★★★★☆	₹2,800	707	Visit
★★★★☆☆	₹2,900	25	Visit

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★★★★☆

LTP:₹2,100

Min Qty:181

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★★★★☆

LTP:₹2,600

Min Qty:808

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★★★★★☆

LTP:₹2,700

Min Qty:728

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★★★★★☆

LTP:₹2,800

Min Qty:630

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★★★★☆☆

LTP:₹2,900

Min Qty:703

Strengths & Weaknesses

Strengths

High Credit Rating: SBI FML has a high credit rating of ‘CARE AAA; Stable’, indicating the company’s high stability.

AUM Milestone: In Jun’24, its AUM touched ₹10 Lakh Cr.

Leading ETF Player: Largest ETF player in FY24 with a market share of 43%.

SIP Growth: SIPs had a YoY growth of 30% in FY24 at ₹3K Cr.

Growing M-Cap: Market share grew from 13.8% in FY20 to 16.7% in FY24, the highest among top peers despite being the market leader.

Outperforming Peers in Revenue: Revenue had a YoY growth of ~42% in FY24 at ₹3.4K Cr, outperforming its top peers

Increasing Profitability: PAT had a CAGR growth of 37% from ₹430 Cr in FY19 to 2K Cr in FY24 with YoY growth of ~55% in FY24. EPS increased by 54% in FY24 to ~₹40

Weaknesses

No weakness identified.

Balance Sheet	FY24	FY23	FY22	FY21	FY20	FY19
Equity Capital	50.6	50.3	50.3	50.1	50.0	50.0
Reserves	6,697.2	4,701.1	3,536.4	2,528.5	1,939.4	1,327.6
Total Equity	6,747.8	4,751.4	3,586.7	2,578.5	1,989.4	1,377.6
Total NC Liabilities	135.7	128.6	114.0	117.1	93.3	108.3
Total Current Liabilities	223.3	103.9	97.2	137.4	78.6	150.3
Equity + Liabilities	7,106.8	4,983.9	3,797.9	2,833.0	2,161.3	1,636.2
Fixed Assets (incl. WIP)	256.9	233.4	226.3	224.2	278.8	346.2
Other Non Current Assets	84.9	44.9	37.4	65.5	52.3	52.3
Total NC Assets	341.8	278.2	263.7	289.7	331.2	398.5
Trade Receivables	107.7	56.6	48.2	41.7	40.3	40.3
Cash & Cash Equivalents	3.7	31.1	32.8	85.5	7.8	7.8
Other Current Assets	6,653.6	4,618.0	3,453.2	2,416.1	1,782.0	1,189.5
Total Current Assets	6,765.0	4,705.7	3,534.2	2,543.3	1,830.1	1,237.7
Total Assets	7,106.8	4,983.9	3,797.9	2,833.0	2,161.3	1,636.2

Profit & Loss	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from Operations	3,273	2,303.3	1,958.0	1,611.1	1,252.3	1,495.7
Growth %	42.1%	17.64%	21.53%	28.65%	-16.28%	0
Operating Expenses	708	602.6	533.5	446.3	490.9	897.5
Growth %	17.5%	12.97%	19.52%	-9.08%	-45.30%	0
Operating Profit	2,565	1,700.7	1,424.5	1,164.7	761.4	598.2
Op. Profit Margin %	78.4%	73.84%	72.75%	72.30%	60.80%	40.00%
Other Income	165	120.0	52.6	9.7	66.3	66.3
Finance Costs	8	5.3	4.4	4.0	3.6	0.0
Depreciation	37	33.8	33.2	31.7	30.2	16.7
Profit Before Tax	2,686	1,781.6	1,439.5	1,138.8	793.7	647.8
Tax	613	441.9	357.1	276.1	188.4	217.7
Tax %	22.8%	24.80%	24.81%	24.25%	23.74%	33.61%
Profit After Tax	2,073	1,339.7	1,082.4	862.7	605.3	430.1
Growth %	54.7%	23.78%	25.47%	42.51%	40.73%	0
PAT %	63.3%	58.17%	55.28%	53.55%	48.34%	28.76%
Diluted EPS	40.9	26.5	21.5	17.2	12.1	8.6

Shareholding Pattern

Color	Shareholder	Holding
	State Bank of India	62.2
	Amundi India Holding	36.5
	Others	1.3

Fundamentals

Quick Insights

High Credit Rating: SBI FML has a high credit rating of ‘CARE AAA; Stable’, indicating the company’s high stability.
AUM Milestone: In Jun’24, its AUM touched ₹10 Lakh Cr.
Leading ETF Player: Largest ETF player in FY24 with a market share of 43%.
SIP Growth: SIPs had a YoY growth of 30% in FY24 at ₹3K Cr.
Growing M-Cap: Market share grew from 13.8% in FY20 to 16.7% in FY24, the highest among top peers despite being the market leader.
Outperforming Peers in Revenue: Revenue had a YoY growth of ~42% in FY24 at ₹3.4K Cr, outperforming its top peers
Increasing Profitability: PAT had a CAGR growth of 37% from ₹430 Cr in FY19 to 2K Cr in FY24 with YoY growth of ~55% in FY24. EPS increased by 54% in FY24 to ~₹40

Market Cap₹1,43,427.39 Cr

PE Ratio69.19

EPS40.9

Dividend YieldNA%

Book Value₹95.0

Debt/Equity0

Price/Book29.79

Industry PENA

Sales₹3273 Cr

Profit After Tax₹2073 Cr

ISININE640G01020

SectorFinancial Services

About Company

SBI FML, the investment manager of SBI Mutual Fund, was incorporated on 7th Feb’92

It is a Joint Venture (JV) between the State Bank of India (SBI) and AMUNDI Asset Management (France). SBI holds a 62.2% stake in SBI FML, while AMUNDI, through its subsidiary Amundi India Holding, holds 36.5%.

Platform	Last Traded Price	Min Quantity
★★★★☆	₹2,100	710	Visit
★★★★☆	₹2,600	295	Visit
★★★★★☆	₹2,700	496	Visit
★★★★★☆	₹2,800	316	Visit
★★★★☆☆	₹2,900	570	Visit

Quick Insights

High Credit Rating: SBI FML has a high credit rating of ‘CARE AAA; Stable’, indicating the company’s high stability.
AUM Milestone: In Jun’24, its AUM touched ₹10 Lakh Cr.
Leading ETF Player: Largest ETF player in FY24 with a market share of 43%.
SIP Growth: SIPs had a YoY growth of 30% in FY24 at ₹3K Cr.
Growing M-Cap: Market share grew from 13.8% in FY20 to 16.7% in FY24, the highest among top peers despite being the market leader.
Outperforming Peers in Revenue: Revenue had a YoY growth of ~42% in FY24 at ₹3.4K Cr, outperforming its top peers
Increasing Profitability: PAT had a CAGR growth of 37% from ₹430 Cr in FY19 to 2K Cr in FY24 with YoY growth of ~55% in FY24. EPS increased by 54% in FY24 to ~₹40

Market Cap₹1,43,427.39 Cr

PE Ratio69.19

EPS40.9

Dividend YieldNA%

Book Value₹95.0

Debt/Equity0

Price/Book29.79

Industry PENA

Sales₹3273 Cr

Profit After Tax₹2073 Cr

ISININE640G01020

SectorFinancial Services

About Company

Strengths

High Credit Rating: SBI FML has a high credit rating of ‘CARE AAA; Stable’, indicating the company’s high stability.

AUM Milestone: In Jun’24, its AUM touched ₹10 Lakh Cr.

Leading ETF Player: Largest ETF player in FY24 with a market share of 43%.

SIP Growth: SIPs had a YoY growth of 30% in FY24 at ₹3K Cr.

Growing M-Cap: Market share grew from 13.8% in FY20 to 16.7% in FY24, the highest among top peers despite being the market leader.

Outperforming Peers in Revenue: Revenue had a YoY growth of ~42% in FY24 at ₹3.4K Cr, outperforming its top peers

Increasing Profitability: PAT had a CAGR growth of 37% from ₹430 Cr in FY19 to 2K Cr in FY24 with YoY growth of ~55% in FY24. EPS increased by 54% in FY24 to ~₹40

Weaknesses

No weakness identified.

Annual Reports

FY24 FY23 FY22 FY21

Balance Sheet	FY24	FY23	FY22	FY21	FY20	FY19
Equity Capital	50.6	50.3	50.3	50.1	50.0	50.0
Reserves	6,697.2	4,701.1	3,536.4	2,528.5	1,939.4	1,327.6
Total Equity	6,747.8	4,751.4	3,586.7	2,578.5	1,989.4	1,377.6
Total NC Liabilities	135.7	128.6	114.0	117.1	93.3	108.3
Total Current Liabilities	223.3	103.9	97.2	137.4	78.6	150.3
Equity + Liabilities	7,106.8	4,983.9	3,797.9	2,833.0	2,161.3	1,636.2
Fixed Assets (incl. WIP)	256.9	233.4	226.3	224.2	278.8	346.2
Other Non Current Assets	84.9	44.9	37.4	65.5	52.3	52.3
Total NC Assets	341.8	278.2	263.7	289.7	331.2	398.5
Trade Receivables	107.7	56.6	48.2	41.7	40.3	40.3
Cash & Cash Equivalents	3.7	31.1	32.8	85.5	7.8	7.8
Other Current Assets	6,653.6	4,618.0	3,453.2	2,416.1	1,782.0	1,189.5
Total Current Assets	6,765.0	4,705.7	3,534.2	2,543.3	1,830.1	1,237.7
Total Assets	7,106.8	4,983.9	3,797.9	2,833.0	2,161.3	1,636.2

Profit & Loss	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from Operations	3,273	2,303.3	1,958.0	1,611.1	1,252.3	1,495.7
Growth %	42.1%	17.64%	21.53%	28.65%	-16.28%	0
Operating Expenses	708	602.6	533.5	446.3	490.9	897.5
Growth %	17.5%	12.97%	19.52%	-9.08%	-45.30%	0
Operating Profit	2,565	1,700.7	1,424.5	1,164.7	761.4	598.2
Op. Profit Margin %	78.4%	73.84%	72.75%	72.30%	60.80%	40.00%
Other Income	165	120.0	52.6	9.7	66.3	66.3
Finance Costs	8	5.3	4.4	4.0	3.6	0.0
Depreciation	37	33.8	33.2	31.7	30.2	16.7
Profit Before Tax	2,686	1,781.6	1,439.5	1,138.8	793.7	647.8
Tax	613	441.9	357.1	276.1	188.4	217.7
Tax %	22.8%	24.80%	24.81%	24.25%	23.74%	33.61%
Profit After Tax	2,073	1,339.7	1,082.4	862.7	605.3	430.1
Growth %	54.7%	23.78%	25.47%	42.51%	40.73%	0
PAT %	63.3%	58.17%	55.28%	53.55%	48.34%	28.76%
Diluted EPS	40.9	26.5	21.5	17.2	12.1	8.6

Shareholding Pattern

Color	Shareholder	Holding
	State Bank of India	62.2
	Amundi India Holding	36.5
	Others	1.3

Board of Directors

Mr. Challa Sreenivasulu SettyChairman and Associate Director

Mr. Fathi JerfelAssociate Director

Mr. Nand KishoreManaging Director & CEO

Mr. Denys de CampigneullesDeputy Chief Executive Officer

Mr. Moiz MiyajiwalaIndependent Director

Mr. Shekhar BhatnagarIndependent Director

Mrs. Sudha KrishnanIndependent Director

Mr. C. N. RamIndependent Director

Dr. T. T. Ram MohanIndependent Director

Mr. Olivier MariéeAssociate Director

Senior Management

Mr. Shamsher SinghMD & CEO

Mr. Denys de CampigneullesDeputy CEO

Mr. D.P. SinghCBO

Mr. R. S. Srinivas JainChief of Strategy

Mr. R SrinivasanCIO - Equity

Mr. Rajeev Radhakrishnan, CFACIO - Fixed Income

Aparna NirgudeED & CRO

Ganesan SonaimuthuCOO

Vinaya DatarCCO & CS

Mr. C.A. SantoshInvestor Relations