SBI Funds Management Ltd (SBI AMC)

₹2,715 - ₹2,806

Platform	Last Traded Price	Min Quantity
★★★★★	₹2,715	10
★★★★☆	₹2,720	10
★★★★★☆	₹2,775	10
★★★★☆	₹2,799	10
★★★★★	₹2,800	1

★★★★★

LTP:₹2,715

Min Qty:10

★★★★☆

LTP:₹2,720

Min Qty:10

★★★★★☆

LTP:₹2,775

Min Qty:10

★★★★☆

LTP:₹2,799

Min Qty:10

★★★★★

LTP:₹2,800

Min Qty:1

Strengths & Weaknesses

Strengths

High Credit Rating: SBI FML has a high credit rating of ‘CARE AAA; Stable’, indicating the company’s high stability.

AUM Milestone: In Jun’24, its AUM touched ₹10 Lakh Cr.

Leading ETF Player: Largest ETF player in FY24 with a market share of 43%.

SIP Growth: SIPs had a YoY growth of 30% in FY24 at ₹3K Cr.

Growing M-Cap: Market share grew from 13.8% in FY20 to 16.7% in FY24, the highest among top peers despite being the market leader.

Outperforming Peers in Revenue: Revenue had a YoY growth of ~42% in FY24 at ₹3.4K Cr, outperforming its top peers

Increasing Profitability: PAT had a CAGR growth of 37% from ₹430 Cr in FY19 to 2K Cr in FY24 with YoY growth of ~55% in FY24. EPS increased by 54% in FY24 to ~₹40

Weaknesses

No weakness identified.

Balance Sheet	FY24	FY23	FY22	FY21	FY20	FY19
Equity Capital	50.6	50.3	50.3	50.1	50.0	50.0
Reserves	6,697.2	4,701.1	3,536.4	2,528.5	1,939.4	1,327.6
Total Equity	6,747.8	4,751.4	3,586.7	2,578.5	1,989.4	1,377.6
Total NC Liabilities	135.7	128.6	114.0	117.1	93.3	108.3
Total Current Liabilities	223.3	103.9	97.2	137.4	78.6	150.3
Equity + Liabilities	7,106.8	4,983.9	3,797.9	2,833.0	2,161.3	1,636.2
Fixed Assets (incl. WIP)	256.9	233.4	226.3	224.2	278.8	346.2
Other Non Current Assets	84.9	44.9	37.4	65.5	52.3	52.3
Total NC Assets	341.8	278.2	263.7	289.7	331.2	398.5
Trade Receivables	107.7	56.6	48.2	41.7	40.3	40.3
Cash & Cash Equivalents	3.7	31.1	32.8	85.5	7.8	7.8
Other Current Assets	6,653.6	4,618.0	3,453.2	2,416.1	1,782.0	1,189.5
Total Current Assets	6,765.0	4,705.7	3,534.2	2,543.3	1,830.1	1,237.7
Total Assets	7,106.8	4,983.9	3,797.9	2,833.0	2,161.3	1,636.2

Profit & Loss	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from Operations	3,273	2,303.3	1,958.0	1,611.1	1,252.3	1,495.7
Growth %	42.1%	17.64%	21.53%	28.65%	-16.28%	0
Operating Expenses	708	602.6	533.5	446.3	490.9	897.5
Growth %	17.5%	12.97%	19.52%	-9.08%	-45.30%	0
Operating Profit	2,565	1,700.7	1,424.5	1,164.7	761.4	598.2
Op. Profit Margin %	78.4%	73.84%	72.75%	72.30%	60.80%	40.00%
Other Income	165	120.0	52.6	9.7	66.3	66.3
Finance Costs	8	5.3	4.4	4.0	3.6	0.0
Depreciation	37	33.8	33.2	31.7	30.2	16.7
Profit Before Tax	2,686	1,781.6	1,439.5	1,138.8	793.7	647.8
Tax	613	441.9	357.1	276.1	188.4	217.7
Tax %	22.8%	24.80%	24.81%	24.25%	23.74%	33.61%
Profit After Tax	2,073	1,339.7	1,082.4	862.7	605.3	430.1
Growth %	54.7%	23.78%	25.47%	42.51%	40.73%	0
PAT %	63.3%	58.17%	55.28%	53.55%	48.34%	28.76%
Diluted EPS	40.9	26.5	21.5	17.2	12.1	8.6

Shareholding Pattern

Color	Shareholder	Holding
	State Bank of India	62.20%
	Amundi India Holding	36.50%
	Others	1.30%

Fundamentals

Quick Insights

It is a Joint Venture (JV) between State Bank of India (SBI) and AMUNDI Asset Management (France). As of April 13, 2011, SBI holds a 63% stake in SBI FML, while AMUNDI, through its subsidiary Amundi India Holding, holds 37%.

Market Cap₹143,427.39 Cr

PE Ratio69.19

EPS₹40.9

Dividend Yield-

Book Value₹95 Cr

Debt/Equity-

Price/Book29.79

Price/Sales-

Industry PE-

Sales₹3,273 Cr

Profit After Tax₹2,073 Cr

Share Capital₹50.6 Cr

Shares Outstanding-

ISININE640G01020

SectorFinancial Services

SymbolSBIAMC

About Company

SBI FML, the investment manager of SBI Mutual Fund, was incorporated on 7th Feb’92

Quick Insights

It is a Joint Venture (JV) between State Bank of India (SBI) and AMUNDI Asset Management (France). As of April 13, 2011, SBI holds a 63% stake in SBI FML, while AMUNDI, through its subsidiary Amundi India Holding, holds 37%.

Market Cap₹143,427.39 Cr

PE Ratio69.19

EPS₹40.9

Dividend Yield-

Book Value₹95 Cr

Debt/Equity-

Price/Book29.79

Price/Sales-

Industry PE-

Sales₹3,273 Cr

Profit After Tax₹2,073 Cr

Share Capital₹50.6 Cr

Shares Outstanding-

ISININE640G01020

SectorFinancial Services

SymbolSBIAMC

About Company

SBI FML, the investment manager of SBI Mutual Fund, was incorporated on 7th Feb’92

Strengths

High Credit Rating: SBI FML has a high credit rating of ‘CARE AAA; Stable’, indicating the company’s high stability.

AUM Milestone: In Jun’24, its AUM touched ₹10 Lakh Cr.

Leading ETF Player: Largest ETF player in FY24 with a market share of 43%.

SIP Growth: SIPs had a YoY growth of 30% in FY24 at ₹3K Cr.

Growing M-Cap: Market share grew from 13.8% in FY20 to 16.7% in FY24, the highest among top peers despite being the market leader.

Outperforming Peers in Revenue: Revenue had a YoY growth of ~42% in FY24 at ₹3.4K Cr, outperforming its top peers

Increasing Profitability: PAT had a CAGR growth of 37% from ₹430 Cr in FY19 to 2K Cr in FY24 with YoY growth of ~55% in FY24. EPS increased by 54% in FY24 to ~₹40

Weaknesses

No weakness identified.

Annual Reports

FY 21 FY 22 FY 23 FY 24

Balance Sheet	FY24	FY23	FY22	FY21	FY20	FY19
Equity Capital	50.6	50.3	50.3	50.1	50.0	50.0
Reserves	6,697.2	4,701.1	3,536.4	2,528.5	1,939.4	1,327.6
Total Equity	6,747.8	4,751.4	3,586.7	2,578.5	1,989.4	1,377.6
Total NC Liabilities	135.7	128.6	114.0	117.1	93.3	108.3
Total Current Liabilities	223.3	103.9	97.2	137.4	78.6	150.3
Equity + Liabilities	7,106.8	4,983.9	3,797.9	2,833.0	2,161.3	1,636.2
Fixed Assets (incl. WIP)	256.9	233.4	226.3	224.2	278.8	346.2
Other Non Current Assets	84.9	44.9	37.4	65.5	52.3	52.3
Total NC Assets	341.8	278.2	263.7	289.7	331.2	398.5
Trade Receivables	107.7	56.6	48.2	41.7	40.3	40.3
Cash & Cash Equivalents	3.7	31.1	32.8	85.5	7.8	7.8
Other Current Assets	6,653.6	4,618.0	3,453.2	2,416.1	1,782.0	1,189.5
Total Current Assets	6,765.0	4,705.7	3,534.2	2,543.3	1,830.1	1,237.7
Total Assets	7,106.8	4,983.9	3,797.9	2,833.0	2,161.3	1,636.2

Profit & Loss	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from Operations	3,273	2,303.3	1,958.0	1,611.1	1,252.3	1,495.7
Growth %	42.1%	17.64%	21.53%	28.65%	-16.28%	0
Operating Expenses	708	602.6	533.5	446.3	490.9	897.5
Growth %	17.5%	12.97%	19.52%	-9.08%	-45.30%	0
Operating Profit	2,565	1,700.7	1,424.5	1,164.7	761.4	598.2
Op. Profit Margin %	78.4%	73.84%	72.75%	72.30%	60.80%	40.00%
Other Income	165	120.0	52.6	9.7	66.3	66.3
Finance Costs	8	5.3	4.4	4.0	3.6	0.0
Depreciation	37	33.8	33.2	31.7	30.2	16.7
Profit Before Tax	2,686	1,781.6	1,439.5	1,138.8	793.7	647.8
Tax	613	441.9	357.1	276.1	188.4	217.7
Tax %	22.8%	24.80%	24.81%	24.25%	23.74%	33.61%
Profit After Tax	2,073	1,339.7	1,082.4	862.7	605.3	430.1
Growth %	54.7%	23.78%	25.47%	42.51%	40.73%	0
PAT %	63.3%	58.17%	55.28%	53.55%	48.34%	28.76%
Diluted EPS	40.9	26.5	21.5	17.2	12.1	8.6

Shareholding Pattern

Color	Shareholder	Holding
	State Bank of India	62.20%
	Amundi India Holding	36.50%
	Others	1.30%

Board of Directors

Mr. Challa Sreenivasulu SettyChairman and Associate Director

Mr. Fathi JerfelAssociate Director

Mr. Nand KishoreManaging Director & CEO

Mr. Denys de CampigneullesDeputy Chief Executive Officer

Mr. Moiz MiyajiwalaIndependent Director

Mr. Shekhar BhatnagarIndependent Director

Mrs. Sudha KrishnanIndependent Director

Mr. C. N. RamIndependent Director

Dr. T. T. Ram MohanIndependent Director

Mr. Olivier MariéeAssociate Director

Senior Management

Mr. Shamsher SinghMD & CEO

Mr. Denys de CampigneullesDeputy CEO

Mr. D.P. SinghCBO

Mr. R. S. Srinivas JainChief of Strategy

Mr. R SrinivasanCIO - Equity

Mr. Rajeev Radhakrishnan, CFACIO - Fixed Income

Aparna NirgudeED & CRO

Ganesan SonaimuthuCOO

Vinaya DatarCCO & CS

Mr. C.A. SantoshInvestor Relations

FAQs – Buying Unlisted Shares

What are unlisted shares?+

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How is the price of an unlisted share decided?+

Unlike listed shares, there’s no central marketplace or live order book. Prices are based on demand and supply, dealer quotes, and recent transaction trends. This leads to price fragmentation — different dealers can quote very different prices for the same stock.

Why should I compare prices before buying?+

Because the same share can be available at a 5–20% price difference depending on the dealer. Not comparing means you could be paying a premium for no reason — directly impacting your returns.

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Yes, like any investment, unlisted shares carry risks — including liquidity risk (harder to sell), company performance risk, and price transparency issues. Comparing prices helps reduce one avoidable risk — overpaying.

How can I know if the price I’m getting is fair?+

You can check recent transaction prices, ask multiple dealers, and soon — use our price comparison platform to instantly see live market quotes.

What documents are required to buy unlisted shares?+

Typically: PAN Card Demat Account details KYC documents (address proof, ID proof)

How do I sell unlisted shares?+

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Can dealers lose business if they don’t offer the best price?+

Absolutely. If an investor finds a better price elsewhere, they’ll switch — often for good. That’s why transparent pricing protects both investors and dealers.

How soon will I receive the shares after purchase?+

Usually within T+2 to T+7 days after payment and documentation, depending on the dealer and the company’s transfer process.

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