Computer Age Management Services Limited (CAMS) share price
₹662.50 on NSE as of 2026-10-08. -4.62% on the day. market cap ₹16,444 Cr. P/E 17.2. 52-week range ₹622.45 to ₹836.30. Financial Services.
CAMS Q1 FY27: Revenue ₹353 Cr, Operating Margin at 49%, and a 43.7x Multiple on a Business With No Promoter
At a glance
Computer Age Management Services keeps the records behind India's mutual funds. Quarterly sales came in at ₹353 crore, against ₹334 crore a year earlier. The March quarter had brought ₹357 crore. Operating profit was ₹171 crore, the highest quarterly figure in the series. Operating margin reached 49%, against 45% a year earlier. In the March quarter it was 42%. Net profit was ₹122 crore. Earnings per share, the profit attached to each share, was ₹4.91.
Expenses did not merely grow more slowly this time. They fell from ₹206 crore in the March quarter to ₹182 crore. That single line does most of the work behind a seven-point jump in margin. Management attributes part of the fall to an appraisal cycle deferred by one quarter. The pay review now takes effect on 1 July rather than 1 April. Management puts the potential impact at roughly 2% of revenue, depending on ramp-ups.
The board declared an interim dividend of ₹2.50 per share. It took on record that Fintuple Technologies is now a wholly owned subsidiary. It approved revised consideration of ₹17.73 crore for further shares in Think Analytics. The board also took on record a communication from SEBI, the market regulator. That communication carries an annexure.
The registrar business counts other people's money for a living. It now services ₹56 lakh crore of it.
Introduction
Computer Age Management Services is a mutual fund transfer agency. It serves three sets of customers: investors, distributors, and the asset management companies that run the funds. The company was incorporated in Chennai in May 1988. SEBI, the market regulator, registered it as a Registrar to an Issue in 1993. In 1995 that became a category I Registrar and Share Transfer Agent licence. Depository participant registrations followed, with NSDL in 2006 and CDSL in 2007. The shares were listed on BSE on 1 October 2020.
The years since listing read as a list of new licences. In 2020 came RBI registration for account aggregator services and the incorporation of CAMSPay. Registration as a central recordkeeping agency for pensions followed in 2021, alongside the GIFT City office. In 2022 CAMS CRA went live and the company took a majority stake in Fintuple Technologies. A majority stake in Think360 AI came in 2023. The year 2024 brought final RBI approval for CAMSPay as a payment aggregator. It also brought the CompaREITnow platform for property trusts and the MFCentral joint venture with KFin Technologies. The KRA business of NSE, which stores investor identity records, was acquired in 2025. The CAMSKRA migration of NSE's data was completed and announced on 6 January 2026. The unified platform carries an investor base above 2.17 crore.
Shareholders approved a 1:5 share sub-division by postal ballot in November 2025. That took face value from ₹10 to ₹2. Anuj Kumar was re-appointed Managing Director for five years from 1 August 2026. The vote in favour was 99.8%. Prasenjit Datta was appointed Chief Technology Officer on 21 May 2026. In February 2026 the company named Supratim Bandyopadhyay as Non-Executive Chairman. Rajesh Krishnamoorthy was named chief executive of MFC Technologies at the same time.
Mutual funds brought 86% of revenue in the year to March 2026. Everything else brought the remaining 14%. A year earlier the same split was 87 and 13.
Business model
CAMS is the back office of Indian mutual funds. When somebody starts a monthly investment plan, the fund house picks the shares. CAMS does the rest. It accepts the transaction request, checks it, processes it and sends the confirmation. It manages the KYC paperwork, the identity checks every investor has to clear. It reconciles the bank account, computes the distributor's brokerage and pays it over. It claws that commission back where the rules require. It files the reports and mails the statement.
Nine of the fifteen largest fund houses are clients. The average relationship with the ten largest runs beyond 23.3 years. In Indian financial services that is less a client list than a set of long marriages. Market share by quarterly average assets under management is 67.2%. The company services ₹55.9 lakh crore of those average assets. It runs more than 285 service centres. Those sit across 25 states and 5 union territories, because a meaningful part of the country still hands over paper.
The product catalogue is a wall of names ending in 360. myCAMS serves investors and DiCE Pro handles distributor commissions. Ferreto covers anti-money-laundering checks and Watchtower360 monitors insider trading. The rest are Affluence360, DataX360, edge360 and GoCORP. Then come RAIDAR, Opera360 and CAMSAi. Somewhere in Chennai a naming committee solved the problem once and has dined out on it since.
Everything outside mutual funds is called Beyond MF, now 14.9% of revenue. CAMSPay processes payments and validated 13.4 million bank accounts in the quarter. That was 32% more than a year earlier. CAMS Alternatives services more than 550 funds across more than 260 fund houses. Those funds hold ₹3.2 lakh crore under service. CAMSKRA is the second-largest KYC Registration Agency, with 20% of that market. It holds over 2 crore identity records. CAMSRep runs Bima Central, an insurance portal, which added 8.3 lakh unique users in the quarter. Its cumulative base passed 25 lakh. CAMSfinserv is an account aggregator, moving financial data between institutions on the customer's instruction. It holds 9% of that market, with 363 enterprises onboarded. More than 90 information providers are integrated with it. CAMS CRA keeps records for the National Pension System. Think360 does AI credit scoring and has processed 135 million customer IDs.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Computer Age Management Services Limited.
Companies in the same industry as Computer Age Management Services Limited
Depositories, Clearing Houses and Other Intermediaries