Operating revenue for Q1 FY27 stood at ₹1,149 crores, representing a 15% year-on-year growth from ₹997 crores in Q1 FY26.
Operating profit was ₹907 crores, registering a 17% year-on-year growth.
Profit After Tax (PAT) reached ₹873 crores, showing a significant 37% growth on a quarter-on-quarter basis.
Assets Under Management (AUM) and Market Position
Mutual fund Quarterly Average Assets Under Management (QAAUM) stood at ₹12.6 trillion, registering an 11% year-on-year growth from ₹11.4 trillion in the same quarter last year.
The company maintained a market share of 15.1% based on overall QAAUM.
Active QAAUM increased to ₹8.6 trillion, up 10% year-on-year with a three-year CAGR of 21%.
Passive QAAUM rose to ₹4 trillion, up 12% year-on-year.
Alternate business AUM (PMS, advisory, offshore, AIF) reached ₹16.5 trillion, with AIF assets specifically at ₹6,800 crores (a 29% YoY increase).
Offshore funds contributed approximately ₹45,000 crores to the overall AUM.
Investor Base and SIP Performance
The unique investor count expanded by 12% to 1.82 crores as of June 30, 2026, compared to 1.63 crores a year earlier.
SIP AUM increased by ₹2.1 trillion, reflecting 15% year-on-year growth.
Monthly SIP flows grew by 14% to nearly ₹4,000 crores.
The company added 1.7 million new SIPs in the quarter, with live SIPs reaching 16 million.
Distribution Network and Market Penetration
The company's distribution franchise includes over 23,000 SBI branches, over 124,000 independent financial advisors, nearly 10,000 national distributors, and over 90 banking partners.
Market leader in B30 locations with a 19% MAAUM market share.
Nearly 65% of SIP contributions originate from B30 markets.
SBI channel contributes approximately 35% to active equity AUM and 33% to SIP flows (about ₹1,300 crores out of ₹4,000 crores monthly).
Planning to launch SBI Balanced Hybrid Fund to complete hybrid suite.
Preparing to launch second SIF strategy this quarter in Ex-Top 100 long-short category.
Introduced six new strategies last quarter.
Technology and Digital Transformation
94% of investor transactions are processed digitally through secure hybrid cloud infrastructure.
AI-driven tools offer personalized nudges and easier onboarding for investors.
About 50,000 distributors use partner app and portal for advanced analytics and real-time reporting.
Enhancing in-house research platform Neo with AI capabilities.
YONO integration has been operational since YONO 2.0 launch in December-January 2026, with 2.5 lakh YONO users applying through the platform during the IPO.
Margin Performance and Cost Management
Gross margins across equity, debt, liquid, and passive strategies remained stable during the quarter.
Net margins improved at overall level despite regulatory changes around transition to base expense ratio and removal of exit load structure.
Cost reduction achieved through digitization of processes (94% digital transactions).
Employee expense decreased by 1% year-on-year in Q1, attributed to new labour code implementation adjustments.
Regulatory Navigation and TER Impact
Management successfully navigated TER reduction regulations, passing majority of the impact to distributors in a calibrated manner.
The company maintained net neutral or positive position despite regulatory changes, with no negative impact.
70-80% of business follows percentage-based TER distribution model that adjusts dynamically.
Revenue Breakdown
90-92% of operating revenue comes from mutual fund business.
8% comes from PMS, advisory and international businesses.
Future Outlook and Strategy
Company strategy guided by four core pillars: democratizing wealth creation, accelerating digital delivery, strengthening investor performance, and building new growth engines.
Focused on quality manpower, fund managers, and technology upgradation in AI and digital areas.
Bullish on SEBI's potential move to allow PMS through mutual funds for ₹25 lakh ticket size, expecting to be leaders in that category.
