Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 1 Oct - Allotment of 90305 equity shares pursuant to ESOP
Source: Bse
Computer Age Management Services Limited (CAMS)
Small CapFinancial Services stocks · Small cap · NSE
Computer Age Management Services Limited (CAMS) is India's largest technology-driven registrar and transfer agent (RTA) for mutual funds, holding ~68% market share. It services 10 of the 15 largest MFs with over 23 years average relationship. CAMS also provides financial infrastructure and services to other financial institutions.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result03 Aug, 07:45 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
34Bearishfull bear SMA stack · SMA20 -6.1% / mo · MACD +
Stock trend: 27
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CAMSD candles · FIT view-9.6%Latest close ₹687.50 on 2026-10-19
Bar
-1.8%
RSI
45
MACD hist
3.81
52W pos
33%
2026-10-19O ₹700.00H ₹700.65L ₹684.00C ₹687.50Vol 3.0L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
CAMSNifty Financial ServicesNifty 500
- CAMS
- -10.8%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -5.2 pp
Chart stats
19 Oct 2026- From 52W high
- -18.6%
- 52W range position
- 33%
- ATR (14)
- 2.5%
- Volume vs 20D
- 0.26x
- Avg traded value
- ₹79.4 Cr
- 20D price channel
- ₹660.8 - ₹725.1
₹844.9
₹611.4 - ₹844.9
₹17.4
Latest completed session
20-session average
32.2% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE54
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good60
Revenue +11.6% · PAT +17.6% YoY
Technical
Bearish34
Price trend and sector-relative-strength timing.
Valuation
Legacy model-35.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence84
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 60/100Rev +12% YoY · PAT +18% YoY · margin expansion · operating leverage
Filed 03 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹395 Cr | +11.6% | +0.0% |
| EBITDA | ₹182 Cr | +18.2% | -0.5% |
| Operating margin | 46.0% | +300 bps | +0 bps |
| PAT | ₹127 Cr | +17.6% | +1.6% |
| PAT margin | 32.1% | +164 bps | +50 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 35.10
- P/B
- 13.13
- EV/EBITDA
- 21.45
- Market Cap
- 17396.00Cr
Profitability
- ROE
- 36.30%
- ROCE
- 47.00%
- ROA
- 27.14%
- Dividend Y
- 1.77%
Growth (CAGR)
- Revenue 5Y
- 17.00%
- EPS 5Y
- 21.00%
- Revenue 3Y
- 16.00%
- EPS 3Y
- 17.00%
Balance Sheet
- Debt/Equity
- 0.05
- Interest Coverage
- 101.71×
- Altman Z
- 9.41
- Book Value
- 53.30
Cash Flow
- FCF Yield
- 1.81%
- FCF Positive Y
- 9/5
- OCF
- 584.00 Cr
- EPS TTM
- 19.97
Shareholding
- Promoter Hold
- —
- Promoter Pledge
- 0.00%
- Momentum 52W
- 38%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 1,516+6.6% vs prev
Net Profit
₹ CrLatest: 472+1.5% vs prev
Return on Equity
%Latest: 35.7-14.1% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 45. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- Recent death cross (SMA50 crossed below SMA200).
- SMA20 falling (~6.5% over last month) — short-term momentum negative.
- RSI(14) at 45 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 19% off 52W high · 12% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
40
RS percentile
Stage 1 Base / Transition
1M return
-2.9%
3M return
-10.8%
6M return
-9.0%
1Y return
-13.7%
RS 1D
-3
RS 20D
0
Sector rank
#9
Industry rank
-
Stage evidence
- Price is within 7.9% of the 30-week proxy.
- The 30-week proxy changed +0.4% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 93.22-0.77%
RS vs Nifty 50093
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth15/25
Quality20/20
Balance Sheet9/15
Cash Flow5/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
54
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
54/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 20/20 to the score.
- Growth contributes 15/25 to the score.
Main drags
- Fair-value margin of safety is negative at -35.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 5/10; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
35.1
PB
13.1
EV/EBITDA
21.4
ROE
36.3%
ROCE
47.0%
FCF Yield
1.8%
Debt/Equity
0.1
MoS
-35.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
54
Previous: 54
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-35.0%
Previous: -35.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
54
54
54
54
54
54
54
54
54
54
54
54
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹154.75
-344.3% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹509.23
-35.0% MoS
PEG
1.81
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
KFINTECH
Small
Kfin Technologies Limited
IT Services / Digital
match 143
53
43.7
21.6%
-73%
FAIR VALUE
STYL
Micro
Seshaasai Technologies Limited
IT Services / Digital
match 127
56
21.0
23.3%
+25%
FAIR VALUE
CCAVENUE
Micro
AvenuesAI Limited
IT Services / Digital
match 127
57
16.3
6.6%
+43%
FAIR VALUE
SHADOWFAX
Small
Shadowfax Technologies Limited
IT Services / Digital
match 124
35
100.0
10.4%
-147%
WATCHLIST
FSL
Small
Firstsource Solutions Limited
IT Services / Digital
match 124
44
24.9
17.6%
+7%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-04T09:12:05.618Z
Management commentary snapshot
CAMS reported its highest-ever quarterly revenue in Q4 FY'26, up 11% YoY, fueled by 24.5% YoY growth in non-MF business. Absolute EBITDA reached an all-time high of ₹183.66 Cr, with a healthy 46.5% margin, driven by improved operational efficiency and automation initiatives.
The thesis remains intact as CAMS delivered strong Q4 FY'26 results, driven by robust growth in its diversified non-MF portfolio and enhanced operational efficiencies. The company maintained its market leadership in MF RTA and showed significant outperformance in key operational metrics like SIP registrations and unique investors.
Current business mix
Revenue by Business Segment (Q4 FY'26)
Latest issuer-disclosed distribution across 3 reported categories.
MF – Assets Based73.0%
MF-Non assets Based11.7%
Non-Mutual Fund15.3%
Growth engines
Non-MF Business Portfolio
The non-MF business portfolio recorded a 24.5% Y-o-Y growth in Q4 FY'26, increasing its contribution to enterprise revenue to 15.3%.
CAMS Alternatives
CAMS Alternatives achieved a strong quarter, with revenue up 25.4% Y-o-Y in Q4FY’26. AuM crossed 3.1 Lakh Cr. with 50%+ share of outsourced market, winning 44 new mandates.
CAMSPay
CAMSPay sustained its robust growth trajectory, delivering 22.8% Y-o-Y revenue growth in Q4FY’26. The Cards business scaled rapidly, recording a 12.9x growth in FY’26.
CAMS Finserv
CAMS Finserv recorded a 45.9% Y-o-Y growth on the back of strong product offerings. AAmaze (analytics) saw over 60% Q-o-Q revenue growth.
Capacity and execution
MF RTA Client Additions
CAMS added Oaklane Capital LLP and Neo Investments Value Advisors Pvt. Ltd. as MF RTA clients, bringing the total to 31 AMCs.
SIF Launches
During the quarter, 4 SIFs launched their maiden funds, taking the total number of SIFs serviced to 6. A pipeline of 8 additional SIF launches remains.
CAMS KRA Client Onboarding
CAMS KRA added two major broking houses and 36 new intermediaries, deepening penetration into brokerages.
CAMSRep Insurer Additions
LIC, IFFCO Tokio General Insurance, and Galaxy Health Insurance were added as new insurers active on IR. Tata AIA Life Insurance integrated with Bima Central.
Tailwinds
SIF Launch Pipeline
A strong pipeline remains in place, with 8 additional SIF launches expected over the coming months.
GIFT City Retail Fund Momentum
Retail fund launches in GIFT City gained momentum. CAMS-serviced GIFT City Retail Fund AuM now stands at US$35.3 Mn.
DPDPA Compliance Demand
ConsenPro is gaining strong momentum with BFSI & enterprise pipelines, accelerating demand for DPDPA compliance solutions.
Digital Adoption in Financial Services
CAMSPay saw strong registration growth with Insurance rising 36% Q-o-Q and NBFC increasing 3% Q-o-Q, highlighting enhanced customer engagement and digital adoption.
Headwinds
Challenging MF External Environment
The MF business demonstrated resilience amid a challenging external environment, with the segment revenues remaining stable on a Q-o-Q basis.
Industry-wide Headwinds in New Account Openings
CAMS KRA delivered 28% Y-o-Y revenue growth despite industry-wide headwinds impacting new account openings.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are crucial. YoY reflects structural growth and market share shifts in the financial services sector, while QoQ highlights recent sequential momentum, utilization, and project execution.
Sector KPIs management disclosed
CAMS AuM
CAMS AuM was ₹55.1 Lakh Cr. in Q4FY’26, retaining ~68% market share and delivering 21% Y-o-Y growth, in line with the industry. Overall Active assets grew ahead of industry.
Equity Assets
Equity assets surged to an all-time high of ₹30.5 Lakh Cr., improving share to a record 67.0%, up 90 bps Y-o-Y, growing faster than the industry.
New SIP Registrations
New SIP registrations reached 1.26 Cr. in Q4FY’26, reflecting a strong 46% Y-o-Y growth, outpacing the industry growth of 37%. Annual SIP registrations in FY’26 hit 4.7 Cr., up 17% over FY’25.
Live SIPs
Live SIPs expanded 17% Y-o-Y compared with 4% for the industry, resulting in share increasing to 64.1% from 57.0% in the previous year.
Management forward view
Platform Re-architecture Outcomes
CAMS multiyear platform re-architecture has begun to deliver meaningful outcomes, driving improved operational efficiency and supporting revenue growth on a near flat headcount.
AI-led Automation Benefits
Key capabilities are now beginning to go-Live on the new platform, led by AI-led form digitisation, leading to improved accuracy and strengthening customer service.
Diversified Portfolio Strategy
Non-MF Revenue contribution to enterprise revenue increased to 15.3% in Q4FY’26, underscoring the company’s decisive progress in building a balanced, diversified portfolio.
Future Platform Rollouts
The next-gen transaction origination platform and the insights and analytics driven enterprise data warehouse are slated to go live in H1FY’27.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Non-MF Revenue Contribution | 15.3% of enterprise revenue in Q4 FY'26 | Continued increase in non-MF revenue contribution to further diversify the business portfolio. |
| EBITDA Margin | 46.5% in Q4 FY'26 | Sustained or improved EBITDA margins, reflecting ongoing benefits from automation and operational efficiencies. |
| New SIP Registrations Growth | 46% Y-o-Y in Q4 FY'26 | Continued outperformance of CAMS's new SIP registrations growth compared to the industry average. |
| Next-Gen Platform Go-Live | Slated for H1 FY'27 | Successful implementation and ramp-up of the next-gen transaction origination platform and enterprise data warehouse. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
84Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 97th percentile of the scored universe and 98th percentile within Financial Services. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
136 docs text-extracted · 49 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
97th percentile
overall median 67 · Financial Services: 98th pctile, median 62 · Small: 98th pctile, median 66
Evidence depth
Financial-only
136 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
80
strong · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.8%.
- ▸9 years of positive FCF.
- ▸Debt/equity is 0.05.
Trust risks
- ▸ROCE trend is -2.7%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Computer Age Management Services Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 24 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep - Intimation of upcoming analyst or institutional investor interaction
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Sep - CAMS launched ConsenPro Self-Serve DPDP platform and announced WhiteOak Capital, Helios Mutual Fund partnerships.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 15 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Sep - Computer Age Management Services Limited has informed of the schedule of investor meet.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Sep - Computer Age Management Services Limited has informed about schedule of meet with Millennium Partners.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Sep - Advance Intimation of upcoming Analyst or Institutional Investor Interactions
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 31 Aug - Advance intimation of upcoming analyst or institutional investor interactions
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 28 Aug - Allotment of 120827 equity shares pursuant to Employee Stock Option Scheme
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Restructuring 11 Aug - CAMS acquired first tranche of Think Analytics shares for Rs17.73 crore, raising stake to 77.70%.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Updates on Acquisition 20 Jul - CAMS completed acquisition of Fintuple shares for Rs. 96.67 lakh; Fintuple became wholly-owned subsidiary.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.