CAMS Q2 FY26: A Quarter of Record Revenue and Strategic Expansion

Computer Age Management Services Limited (CAMS) has delivered an exceptional performance in the second quarter of Fiscal Year 2026, marking its highest-ever quarterly revenue. The company, a pivotal financial infrastructure and services provider in India, reported a consolidated total revenue of 376.74 crore for Q2 FY26. This robust growth was fueled by strong contributions from both its mutual fund (MF) and non-MF segments, demonstrating resilience and strategic execution despite earlier pricing adjustments.

On the mutual fund front, CAMS continues to solidify its market leadership. The company's Assets Under Management (AUM) crossed a significant milestone of 52 lakh crore in September 2025, maintaining an impressive market share of approximately 68% by AUM. Equity net sales reached an all-time high of over 1.02 lakh crore in Q2 FY26, with CAMS's market share in this segment growing to 69%. Systematic Investment Plan (SIP) collections also saw a healthy 21% year-on-year growth, reaching 17,555 crore. The company successfully captured an 80% share of New Fund Offer (NFO) collections, underscoring its dominant position in the industry.

Diversification Driving Growth

CAMS's strategic diversification into non-MF businesses continues to yield significant results. The non-MF revenue segment grew by 17.9% quarter-on-quarter, with its share of total revenue improving to 14.4%. Key contributors to this growth include:

• CAMSPay: Revenue grew 26% quarter-on-quarter, driven by a ramp-up in payment gateway services and 25 new deals signed in Q2 FY26.
• CAMS Alternatives: Achieved its highest-ever quarterly revenue, reinforcing market leadership with over 2.8 lakh crore in Assets Under Administration (AUA) and adding 44 new mandates.
• CAMSRep: The insurance repository business won two global awards and saw its cumulative unique user count reach 12 lakh, processing over 1 lakh monthly transactions. TATA AIA Life services were integrated, bringing the total integrated insurers to four.
• CAMS KRA: Experienced a strong rebound with 45% quarter-on-quarter revenue growth, indicating a recovery in capital markets account opening. The integration with NSE KRA is on track, with revenue expected from Q4 FY26.
• Think360 AI: Acquired two new clients in the US, including a decacorn, and secured new logos across its products, demonstrating strong traction in data science and AI solutions.
• CAMS NPS: Delivered 41% year-on-year revenue growth, making inroads into major public and private sector banks.

Strategic Initiatives and Future Outlook

Management highlighted several strategic initiatives designed to sustain this growth trajectory. The company is actively expanding its footprint in GIFT City, with the launch of India's first outbound retail fund, and expects multiple such schemes to go live. The acquisition of NSE KRA business is on track, expected to add 13-14 lakh PANs and contribute to revenue from Q4 FY26. CAMS also unveiled its CAMS AI brand, focusing on deploying artificial intelligence within its operations for enhanced productivity and developing AI-rich solutions for external clients.

Management expressed confidence in achieving a 20% year-on-year growth from non-MF businesses and improving non-MF EBITDA margins to 25% within the next couple of years. The company aims to grow its revenue by at least 500 crore over the next three years, with an expectation of improving margins. The board also declared an interim dividend of Rs. 14 per share, reflecting strong financial health and commitment to shareholder returns.

Conclusion

CAMS's Q2 FY26 performance underscores its strategic clarity and disciplined execution. The company's ability to achieve record revenue, coupled with robust growth across diversified segments and a strong pipeline of strategic initiatives, positions it well for sustained growth. The focus on technology, automation, and market expansion reinforces CAMS's leadership in India's evolving financial services landscape, building investor trust for the future.