ICICI Prudential AMC delivered robust financial results for Q4FY26, with operating revenue growing 20% year-on-year to ₹1,520 crore, according to reports from The Hindu BusinessLine. The company's EBITDA increased 30% YoY to ₹1,160 crore, with margins expanding to 76.5% compared to 70.5% in Q4FY25. For the full fiscal year FY26, revenue grew 23% to ₹5,760 crore and EBITDA rose 29% YoY to ₹4,290 crore. PAT stood at ₹760 crore for Q4FY26, representing a 10% year-on-year increase, though it was 17% lower quarter-on-quarter due to negative other income.
The company's yields came in at 55 basis points versus 57.7 bp in Q4FY25 and 56.3 bp in Q3FY26, as reported by The Hindu BusinessLine. Total operating expenses decreased 5% to ₹360 crore in Q4FY26. Net yields for AIF/PMS improved to 0.98% in Q4FY26 from 0.91% in Q3FY26, driven by favorable product mix. The management indicated that new TER regulations effective April 2026 may impact gross yields by 3-4 basis points, which are currently under negotiation.
For the complete fiscal year FY26, PAT reached approximately ₹3,300 crore, up 24% year-on-year, according to The Hindu BusinessLine. Overall gross yield stood at 52 basis points with net yield at 48.3 bp as of March 2026. Motilal Oswal Research has maintained its earnings estimates for FY26, FY27 and FY28, factoring in relatively lower equity AUM growth that is expected to be offset by incremental income and AUM inflows from SIF and ICICI Venture investments. Over FY26-28E, the company is projected to achieve AUM/revenue/PAT CAGRs of 17%/15%/16% respectively.
Motilal Oswal Research has maintained its Buy rating on the stock with a target price of ₹3,850, as reported by The Hindu BusinessLine. The current market price stands at ₹3,215.75. The brokerage firm's positive outlook is based on the company's strong operational performance, expanding margins, and projected growth trajectory over the next three fiscal years. The recommendation reflects confidence in ICICI Prudential AMC's ability to maintain its growth momentum despite potential regulatory changes in the asset management industry.
