Aditya Birla Sun Life AMC Ltd (BOM:543374) Q3 2026 Earnings Call Highlights: Record AUM Growth ...

This article first appeared on GuruFocus .

• Overall Average AUM:INR4.81 lakh crores, a 20% year-on-year growth.

• Mutual Fund Quarterly Average AUM:INR4.40 lakh crores, a 15% year-on-year increase.

• Equity Mutual Fund Quarterly Average AUM:INR2 lakh crore, an 11% year-on-year growth.

• SIP Contribution for December 2025:INR1,080 crores.

• Total Number of Investor Portfolios:1.08 crores, a 3% year-on-year growth.

• PMS/AIF Assets:Grew from INR3,853 crores to INR32,000 crores in Q3 FY26.

• Q3 FY26 Revenue from Operations:INR478 crores, a 7% year-on-year increase.

• Q3 FY26 Profit After Tax:INR358 crores, a 19% year-on-year increase.

• 9M FY26 Revenue from Operations:INR1,387 crores, a 10% year-on-year increase.

• 9M FY26 Profit Before Tax:INR1,046 crores, an 11% year-on-year increase.

• 9M FY26 Profit After Tax:INR788 crores, a 12% year-on-year increase.

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Release Date: January 22, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript .

Positive Points

• Aditya Birla Sun Life AMC Ltd ( BOM:543374 ) achieved its highest ever AUM at INR4.81 lakh crores, growing 20% year on year.

• The company's mutual fund quarterly average AUM increased by 15% year on year, reaching INR4.40 lakh crores.

• Profit after tax for Q3 FY26 rose by 19% year on year to INR358 crores.

• The company launched a new SIP-led initiative under the investor education program 'Plan for Life', encouraging long-term investment planning.

• The passive business demonstrated strong momentum with a 28% year on year growth in quarterly average AUM, reaching INR38,600 crores.

Negative Points

• Employee benefit expenses increased by around 20% year on year, partly due to ESOP costs and gratuity impacts.

• Despite improved fund performance, the company continues to lose market share in the equity segment.

• SIP market share has not yet stabilized, with ongoing declines in market share month-on-month.

• The company anticipates a minimal impact on yields due to regulatory changes, but there is uncertainty about the extent of this impact.

• The ESOP scheme rolled out in January will increase manpower costs over the next few quarters.

Q & A Highlights

Q: What explains the increase in employee benefit expenses, and will this be recurring? A: Pradeep Sharma, CFO, explained that the increase is due to the impact of the gratuity based on the new labor code, accounting for INR2.82 crores, and ESOP costs from the parent company, ABCL, amounting to INR4.66 crores. The gratuity cost is a one-time expense, while the ESOP cost will recur for the next three quarters.