UTI AMC Q2 Review - Strong Earnings Traction; Attractive Valuations: ICICI Securities
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ICICI Securities Report
UTI Asset Management Company Ltd. continues to outperform in terms of AUM growth with improvement in the standalone mutual fund business' operating parameters as well as strong growth in international segment.
Our expectations of 65% core earnings CAGR between FY21-FY23E remains on track with Q2 FY22 core PAT crossing Rs 1 billion as cost levers remain available.
Valuations remain attractive
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