Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 10 Oct - Canara Robeco announced Q2 and H1 FY27 unaudited results; PAT rose 22% YoY in Q2.
Source: Bse
Canara Robeco Asset Management Company Limited (CRAMC)
Micro CapFinancial Services stocks · Micro cap · NSE
Canara Robeco Asset Management Company Limited (CRAMC) is an Indian asset manager offering mutual fund products. The company focuses on long-term investing, leveraging a strong brand and disciplined investment processes. It aims to expand product offerings and diversify into new business lines while strengthening its retail and SIP-led franchise.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result09 Oct, 07:30 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
32Bearishfull bear SMA stack · SMA20 -9.3% / mo · MACD + · near 52W low
Stock trend: 24
Sector RS: 45
Sector 3M: -5.7% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
CRAMCD candles · FIT view-23.2%Latest close ₹214.94 on 2026-10-21
Bar
-2.6%
RSI
35
MACD hist
0.55
52W pos
1%
2026-10-21O ₹220.58H ₹222.20L ₹214.00C ₹214.94Vol 2.2L 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
CRAMCNifty Financial ServicesNifty 500
- CRAMC
- -14.8%
- Nifty 500
- -6.5%
- Nifty Financial Services
- -6.9%
- Vs Nifty 500
- -8.3 pp
Chart stats
21 Oct 2026- From 52W high
- -39.2%
- 52W range position
- 1%
- ATR (14)
- 3.0%
- Volume vs 20D
- 0.51x
- Avg traded value
- ₹9.1 Cr
- 20D price channel
- ₹214 - ₹234.8
₹353.4
₹214 - ₹353.4
₹6.5
Latest completed session
20-session average
29.7% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Add to watchlist
Fundamental setup is interesting, but technical confirmation is weak.
U-Score
Legacy · UNDERVALUED73
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average47
Revenue +12.6% · PAT +20.8% YoY
Technical
Bearish32
Price trend and sector-relative-strength timing.
Valuation
Legacy model+26.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence82
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 Sept 2026
Average · 47/100margin compression · Rev +13% YoY · PAT +21% YoY · operating leverage
Filed 09 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹121.6 Cr | +12.6% | -16.1% |
| EBITDA | ₹76.1 Cr | +12.0% | -25.4% |
| Operating margin | 62.6% | -38 bps | -738 bps |
| PAT | ₹59.2 Cr | +20.8% | -22.1% |
| PAT margin | 48.7% | +331 bps | -373 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 19.80
- P/B
- 5.42
- EV/EBITDA
- 13.92
- Market Cap
- 4528.00Cr
Profitability
- ROE
- 30.30%
- ROCE
- 40.10%
- ROA
- 25.05%
- Dividend Y
- 1.76%
Growth (CAGR)
- Revenue 5Y
- 30.00%
- EPS 5Y
- 41.00%
- Revenue 3Y
- 31.00%
- EPS 3Y
- 37.00%
Balance Sheet
- Debt/Equity
- 0.03
- Interest Coverage
- 159.00×
- Altman Z
- 9.00
- Book Value
- 41.90
Cash Flow
- FCF Yield
- 1.41%
- FCF Positive Y
- 7/5
- OCF
- 172.00 Cr
- EPS TTM
- 11.48
Shareholding
- Promoter Hold
- 75.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 9%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 122-16.1% vs prev
Net Profit
₹ CrLatest: 59.2-22.1% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
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
Bearish setupTrend is weak — long-term trend down. RSI 35.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~10.2% over last month) — short-term momentum negative.
- RSI(14) at 35 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 5% of 52-week low — testing support.
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
22
RS percentile
Stage 4 Downtrend
1M return
-7.0%
3M return
-14.8%
6M return
-24.0%
1Y return
-33.4%
RS 1D
+4
RS 20D
-22
Sector rank
#10
Industry rank
-
Stage evidence
- Price is 13.3% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -0.9%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
weakening
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
250 observations
21 Oct 2026Value 77.19-1.61%
RS vs Nifty 50077
Valuation & peers
U-Score 73 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 73 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · UNDERVALUEDValuation7/30
Growth24/25
Quality17/20
Balance Sheet12/15
Cash Flow7/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
73
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
73/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 26.6%.
- Growth contributes 24/25 to the score.
Main drags
- Valuation is weaker at 7/30; verify the latest quarterly trend.
- Cash flow is weaker at 7/10; verify the latest quarterly trend.
- Balance sheet is weaker at 12/15; 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
19.8
PB
5.4
EV/EBITDA
13.9
ROE
30.3%
ROCE
40.1%
FCF Yield
1.4%
Debt/Equity
0.0
MoS
+26.6%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
73
Previous: 71 (+2)
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+26.6%
Previous: +24.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
71
74
74
74
74
72
72
71
71
71
71
71
Factor attribution
Valuation
7+2
was 5
Modelled fair value
Graham Number
₹104.03
-106.6% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹292.74
+26.6% MoS
PEG
0.50
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
ICICIAMC
Mid
ICICI Prudential Asset Management Company Limited
Asset Management
match 77
61
39.3
85.8%
-52%
UNDERVALUED
ABSLAMC
Large
Aditya Birla Sun Life AMC Limited
Asset Management
match 69
60
27.9
25.2%
+10%
UNDERVALUED
IVC
Small
IL&FS Investment Managers Limited
Asset Management
match 55
26
60.6
1.9%
-1342%
OVERVALUED
HDFCAMC
Large
HDFC Asset Management Company Limited
NBFC / Capital Markets / Insurance
match 27
55
34.6
32.9%
-40%
FAIR VALUE
INDIASHLTR
Micro
India Shelter Finance Corporation Limited
NBFC
match 25
49
13.6
17.0%
+48%
FAIR VALUE
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 2026-10-19T00:40:32.550Z
Management commentary snapshot
CRAMC reports robust Q2 & H1 FY27 financial performance with double-digit YoY growth in revenue and PAT, driven by resilient domestic investor participation despite market volatility.
CRAMC delivered strong Q2/H1 FY27 financial results, with revenue and PAT growing 17-23% YoY. This performance is supported by resilient domestic investor participation and steady SIP flows, despite broader market volatility. Management is actively pursuing new product launches and evaluating new business lines, indicating a proactive growth strategy. However, some SIP metrics show softness, requiring close monitoring.
Growth engines
New Product Offerings
Targeting a couple of New Fund Offerings (NFOs) this financial year, subject to regulatory approvals, including an equity fund before March 2027.
New Lines of Business
Evaluating new lines of businesses such as passives, SIF, AIF, and GIFT City, with plans to choose one or two over the next 6-12 months.
SIP Franchise Expansion
Renewed focus on SIPs, working with selected partners, launching 'Goal SIP' initiative, and strengthening communication around SIPs.
Distribution Network Leverage
Continues to use Canara Bank and other strategic partners as avenues to grow the business.
Capacity and execution
Product Launches
Expects at least a couple of product launches before March 2027, including an equity fund, subject to regulatory approvals.
New Business Line Evaluation
Evaluating passives, SIF, AIF, and GIFT City for sequential launch over the next 6 to 12 months.
Distribution Network Expansion
Distribution network has expanded to over 57,186 empanelled partners and 29 branches.
Tailwinds
Resilient Domestic Investor Participation
Domestic institutional investors more than offset foreign selling; SIP flows provide a structural anchor for the mutual fund industry.
Matured Domestic Retail Investor Base
Increasingly becoming a steady, long-term, and relatively price-agnostic source of capital.
Government & RBI Market Stabilization
Government and RBI have been stepping in periodically to stabilize the market, with India withstanding global volatility well.
Headwinds
Global & Domestic Volatility
Geopolitical developments, macroeconomic uncertainty, elevated US bond yields, strengthening US dollar, foreign portfolio outflows, and crude oil prices.
Market Volatility Impact on SIPs
Some SIP closures are due to market volatility, causing nervousness among investors.
ELSS Tax Changes
Changes in taxation for Tax Saver Funds (ELSS) have led to a decline in contributions and folio counts in this space.
Risk radar
Market Volatility
Continued market volatility could impact investor sentiment, leading to SIP closures and affecting AUM growth.
Competitive Pressures
Growing competition from new AMCs and products, along with highly concentrated market flows, poses challenges to maintaining market share and fund quartiles.
Regulatory Changes on Scheme Overlap
Recent regulatory guidelines restricting overlap of holdings between schemes are being assessed, potentially requiring changes to some schemes.
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 YOY
Financial results (Revenue, PAT) and AUM growth are explicitly reported on a Year-on-Year basis, reflecting annual performance and long-term trends in the asset management business.
Sector KPIs management disclosed
Revenue from Operations (Q2 FY27)
INR 121.6 crores, registering a Y-o-Y growth of 17% compared to INR 103.9 crores in Q2 FY26.
PAT (Q2 FY27)
INR 59.2 crores, registering a Y-o-Y growth of 21% compared to INR 48.7 crores in Q2 FY26.
Quarterly Average AUM (Sep 2026)
INR 1.17 lakh crores (closing AUM as of Sep 30, 2026), with a 4% Y-o-Y growth in quarterly average AUM.
Investor Folios
50.1 lakh as of September 30, 2026, reflecting continued investor trust.
Management forward view
Long-Term Strategic Focus
Building an AMC that survives time and remains relevant across periods, with short-term strategies supporting long-term goals.
Commitment to Disciplined Investing
Emphasizes the importance of disciplined and long-term investing for investors, especially during market corrections.
Leveraging Technology
Will leverage technology to make investing simpler and enhance the overall investor experience to be more seamless and user-friendly.
Confidence in Sustainable Growth
Remains confident in delivering sustainable, long-term growth and creating value for all stakeholders, supported by a strong foundation and growing industry.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| New Product Launches | A couple of NFOs this FY, one equity fund before March 2027. | Timely regulatory approvals and market reception of new products. |
| New Business Line Entry | Evaluating passives, SIF, AIF, GIFT City for launch over 6-12 months. | Specific announcements on chosen new lines of business and execution timelines. |
| SIP Growth & Market Share | Monthly SIP contributions INR 676 crores; SIP AUM up to INR 41,000 crores (34% of AUM). | Reversal of softness in SIP accounts/monthly contributions and market share gains. |
| Yields | Overall yield 37-38 bps; comfortable in 35-40 bps range. | Maintenance of yields within the stated comfort range amidst competitive pressures. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
82Limited 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 94th percentile of the scored universe and 96th 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 05 Sept 2026
management-trust-v1
23 docs text-extracted · 6 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
94th percentile
overall median 67 · Financial Services: 96th pctile, median 62 · Micro: 90th pctile, median 73
Evidence depth
Financial-only
23 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
86
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
67
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 75%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.2%.
- ▸7 years of positive FCF.
Trust risks
- ▸ROCE trend is -5.2%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Canara Robeco Asset Management Company Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Oct - Please find attached the Newspaper Advertisements related to Unaudited Financial Results of the Company for the quarter and half year ended on September 30, 2026 …
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 22 Sep - Management to meet investors at PL Capital Mid & Small Cap Conference 2026 on September 28, 2026 in Mumbai.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 13 Aug - The Management of the Company will participate and meet the investors/analysts on Tuesday, August 18, 2026.
Source: Bse
Concall transcriptJul 2026
Jul 2026 · Transcript
Source: Bse
Investor presentationJul 2026
Jul 2026 · PPT
Source: Bse
Annual reportJul 2026
Jul 2026 · Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015. 25 Jun - Company sent FY2025-26 annual report link and AGM notice for July 23, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Jun - Newspaper advertisement regarding e-voting information - 33rd Annual General Meeting of Members of the Company
Source: Bse
Annual report
Annual Report For The Financial Year 2025-26 Including Notice Of Annual General Meeting 25 Jun
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.