Computer Age Management Systems (CAMS) maintains a dominant 67.2% market share in India's mutual fund registrar and transfer agent segment, yet trades at a 19% discount to its smaller rival KFin Technologies. According to The Financial Express, CAMS' consolidated revenue grew 11.6% year-on-year to ₹395 crore, while KFin Technologies achieved 29.9% growth to ₹356.5 crore. The company's average assets under management (AAUM) related to mutual funds grew 14.8% year-on-year to a record ₹56 lakh crore, demonstrating strong operational performance in its core business.
CAMS continues to dominate the systematic investment plan (SIP) segment with 6.72 crore SIP accounts, representing a 63.9% market share compared to the broader industry's 14.4% growth rate. As reported by The Financial Express, the company's SIP account growth of 18.8% year-on-year significantly outpaced industry benchmarks. The company's mutual fund transaction volume grew 19.7% year-on-year to 29.2 crore, while equity net sales surged 43% year-on-year to ₹86,026 crore, outperforming industry growth of 39%.
CAMS has successfully diversified beyond mutual funds, with non-mutual fund revenue growing 28.4% year-on-year, contributing 14.9% of total revenue. According to The Financial Express, the company's Alternatives AUM crossed ₹3.2 lakh crore with 50 new mandates, positioning it as a dominant player in the alternatives segment. KFin Technologies maintains 757 alternative investment funds (AIF) with a 37.3% market share, while CAMSPay's revenue grew strongly with 17 new clients signed up in the quarter.
CAMS demonstrated superior profitability with net profit growing 17.6% year-on-year to ₹127 crore, while KFin Technologies' net profit fell 2.5% to ₹75.2 crore due to increased employee benefit expenses. As reported by The Financial Express, CAMS achieved a consolidated return on equity (RoE) of 36.3% compared to KFin Technologies' 21.6% RoE. The company's equity AAUM that it services grew 17.6% year-on-year to ₹31.4 lakh crore, outpacing the broader industry growth of 16.4%.
Despite its market leadership, CAMS trades at a consolidated P/E of 35.8 compared to KFin Technologies' 44.2 P/E, representing a 19% valuation discount. According to The Financial Express, the company's stock reached a 52-week high of ₹844.8 in May 2026, while KFin Technologies traded at ₹896 with a 52-week high of ₹1,217. The financialisation of savings in mutual funds and allied investment themes is expected to continue, with investors closely watching the impact of UPI-related merchant charges starting October 15, 2025.
