SBI Funds Management Limited – Investor Presentation Summary

Key Operational Highlights

  • Total QAAUM stood at ₹26,539 billion as of September 30, 2026.
  • Mutual Fund QAAUM reached ₹13,140 billion, a 10% YoY increase for the quarter.
  • Passive QAAUM (ETFs and Index funds) stood at ₹4,154 billion, up 11% YoY.
  • Systematic Investment Plan (SIP) AUM was ₹2,070 billion, representing a 12.3% market share.
  • B-30 MAAUM (Beyond Top 30 locations) was ₹3,052 billion, with a 19.0% CAGR from Sep'21 to Sep'26.
  • Unique investors reached 18.5 million, a 10% increase YoY.
  • Total live MF investor folios stood at 22.7 million.
  • Live SIPs numbered 16.2 million, with 16.4 million transactions triggered monthly.
  • Distribution network includes 136,000+ partners (126,000+ IFAs, 10,000+ Banks & NDs).
  • The company operates 297 branches and has access to 23,265 SBI branches.
  • Employee count stands at 2,141.
  • 98% of pin codes across India are serviced.

Key drivers of operational performance: Strong equity and passive flows, sustained SIP momentum, rising retail participation, extensive multi-channel distribution network, and digital enablement.

Segment-wise Performance

  • Mutual Funds: QAAUM of ₹13,140 billion, 15.0% market share.
  • Equity-oriented QAAUM: ₹6,220 billion
  • Fixed Income QAAUM: ₹1,565 billion
  • Liquid QAAUM: ₹1,202 billion
  • Passives QAAUM: ₹4,154 billion
  • Active MF QAAUM: ₹8,986 billion, 12.4% market share
  • PMS and Advisory: QAAUM of ₹13,317 billion (includes offshore).
  • AIF (Alternative Investment Funds): QAAUM of ₹74 billion.
  • SIF (Specialized Investment Fund): QAAUM of ₹44 billion.
  • Magnum Equity Ex-Top 100 Long Short Fund: Closing AUM ₹1,611 Cr (70.48% equity, 19.44% derivatives)
  • Magnum Hybrid Long Short Fund: Closing AUM ₹3,980 Cr (65-75% gross equity, 25-35% debt)

Explanation of significant changes: Growth was driven across all product categories, with particular strength in passive funds and equity-oriented schemes.

Financial Highlights

H1 FY27 (Half Year Ended September 30, 2026):

  • Revenue from Operations: ₹23,361 million (12% YoY growth)
  • Asset Management Fees: ₹23,361 million (12% YoY growth)
  • Other Income: ₹2,788 million (-35% YoY)
  • Total Income: ₹26,149 million (4% YoY growth)
  • Total Expenses: ₹5,389 million (16% YoY growth)
  • Employee benefits expense: ₹2,348 million (10% YoY)
  • Other expenses: ₹2,551 million (19% YoY)
  • Depreciation and amortization: ₹276 million (31% YoY)
  • Fees and commission expense: ₹132 million (33% YoY)
  • Finance cost: ₹82 million (78% YoY)
  • Operating Profit: ₹17,972 million (11% YoY growth)
  • Profit Before Tax: ₹20,760 million (1% YoY growth)
  • Profit After Tax: ₹15,663 million (-1% YoY growth)
  • Operating Margin: 0.27%
  • Operating Margin (excluding passives): 0.37%
  • Return on Net Worth: 46.81%

Q2 FY27 (Quarter Ended September 30, 2026):

  • Revenue from Operations: ₹11,874 million (9% YoY growth)
  • Operating Profit: ₹8,902 million (4% YoY growth)
  • Profit After Tax: ₹6,935 million (-6% YoY growth)

Drivers of financial performance: Higher asset management fees due to AUM growth, partially offset by increased operating expenses.

Key Risks: Not explicitly disclosed in the presentation.

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not specified in the presentation.

Balance Sheet Snapshot

  • Total Investments: ₹72,698 million

Financial Health Insights: Not specified beyond investment holdings and profitability metrics.

Capex & Cash Flow Health

Capital Expenditure: Not specified in the presentation.

Free Cash Flow: Not specified in the presentation.

Operating Cash Flow: Not specified in the presentation.

Net Debt Movement: Not specified in the presentation.

Investment Rationale: Focus on technology and digital assets, building AI capabilities, and automation of operations and risk framework.

Strategic & R&D Initiatives

Investments in Innovation: Significant investment in AI and ML across research, risk management, security, customer service, marketing, and automation. Implementation of conversational AI (SBIMF, Smart Assist) on digital platforms. Development of unified data platform for operations, engagement, reporting and AI. Future-ready infrastructure with hybrid cloud strategy on AZURE.

Expected impact on growth: Digital channels process 94% of transactions; InvesTap has 4.3+ million registered users and contributes 9.3% of fresh SIP registrations; Partner App and Portal have 37,645 active users; Mitra has 30,525 active users; 1.4 million transactions processed monthly.

Strategic Rationale: Enhancing investor experience, increasing share of digital transactions, personalized investor engagement through data analytics, and improving operational efficiency.

Industry Trends & Business Environment

Macro/Industry Trends: Not explicitly discussed beyond market share data and industry ranking positions.

Impact on Company: Not explicitly discussed.

Management Commentary & Growth Outlook

Strategic Outlook: Focus on four growth engines: 1) Deepen retail penetration in B-30 locations through SBI network and distributor productivity; 2) Build on digital strengths via InvesTap platform and YONO integration; 3) Expansion of product set including passive offerings, PMS for HNIs, AIF across categories, and institutional advisory; 4) Capitalize on international opportunities through Amundi partnership and GIFT City operations.

FY Guidance: Not explicitly provided.

Market Share Targets: Not explicitly provided beyond current market positions.

Risks and Opportunities: Not explicitly highlighted beyond growth strategies.

ESG Updates

  • Environmental Sustainability: 2,250+ cu. mtr. of water harvesting structure constructed; 4 trainings on Water security
  • Rural Development: 45+ farmers benefitted
  • Healthcare & Hygiene: 4,290+ individuals impacted; 2 hospitals supported
  • Promotion of Education: 700+ students benefitted; 4 schools supported
  • Skill Development: 400+ people skilled; 141+ candidates placed

CSR initiatives included strengthening trauma care in Patna, heart & lung machines in Bangalore, and mobile eye care clinics in Delhi/NCR.