Prudent Corporate Advisory Services Ltd Share Price – NSE  /  BSE

Finance, Small Cap

Prudent Corporate Advisory Services has appointed Kunal Amrishbhai Chauhan (ICSI M. No. A60163), as Company Secretary and Compliance Officer of the Company (KMP) w.e.f. 25 January 2024.

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Net profit of Prudent Corporate Advisory Services rose 25.31% to Rs 35.70 crore in the quarter ended December 2023 as against Rs 28.49 crore during the previous quarter ended December 2022. Sales rose 32.57% to Rs 209.93 crore in the quarter ended December 2023 as against Rs 158.35 crore during the previous quarter ended December 2022.

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Prudent Corporate Advisory Services will hold a meeting of the Board of Directors of the Company on 25 January 2024.

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Total income was at Rs 194.08 crore in Q2 FY24, registering a growth of 30.43% year on year.

Profit before tax for the quarter was at Rs 40.58 crore, up 9.71% from Rs 36.99 crore reported in Q2 FY24.

EBITDA rose 7.4% to Rs 43.2 crore in Q2 FY24 as against Rs 40.2 crore recorded in Q2 FY23. EBITDA margin reduced to 22.7% in Q2 FY24 as as against 27.2% in Q2 FY23.

Quarterly average assets under management (QAAUM) stood at Rs 66,584 crore in Q2 FY24, recording a growth of 29% as compared with Rs 51,630 crore posted in Q2 FY23.

On half-year basis, the company's net profit jumped 24.51% to Rs 58.48 crore in H1 FY24 as compared with Rs 46.97 crore in H1 FY23 led by a strong operational growth & higher other income. There was an on-off income pertaining to reversal of impairment of Rs 2 crores in H1 FY23. If, it exclude this one-off, profits in H1 FY24 have grown by 30%.

revenue from operations jumped 28.79% YoY to Rs 355.46 crore in H1 FY24 over H1 FY23, led by 27% growth in quarterly average assets under management (AUM) in the mutual fund vertical.

Growth in AUM was led by marked to market (M2M) gains as markets witnessed a strong broad based rally from April 2023 onwards. As on 30 September 2023, the company's closing AUM stood at Rs 69,127 crore.

The company ended September 2023 with a monthly SIP flow of Rs 595 crore. Its market share of SIP flow in the industry stood at 3.7%.

Sanjay Shah, managing director of Prudent Group stated “We are uniquely placed in the wealth management space as we focus on the retail segment of India which is largely underserved. There are just 4 crore unique mutual fund investors in the country & this number is set to grow by leaps & bounds in this phase of Amrit kaal wherein per capita income is set to grow 10x in next twenty-five years. Over the years, it is well established that mutual funds as an asset class have delivered inflation beating returns & this product will eat into the share of bank deposits slowly but surely.

By March-2026, as we aim to achieve an AUM of Rs 1 trillion, we foresee our monthly SIP inflow crossing the mark of Rs 1000 crore. With a robust performance track record and a promising economic backdrop, we are poised to continue our successful growth trajectory.”

Prudent Corporate Advisory Services is a retail wealth management services group based in India. The company is among the top mutual fund distributors regarding assets under management (AUM) and commission received. The company offers a technology enabled, comprehensive investment and financial services platform with end-to-end solutions critical for financial products distribution and presence across both online and offline channels.

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