Computer Age Management Services Ltd

- FY '25 capex includes around INR100 crores for the re-architecture project and another INR70 crores for other capex, causing cash outflow. - Depreciation related to re-architecture will start reflecting end of next year when the module goes live. - FY '26 expected capex: around INR50 crores additional IT capex and INR10-15 crores other capex. - Re-architecture spending will accelerate in the current year with benefits starting from end of this year. - Regular BAU capex continues alongside the re-architecture investment. - Investments include Oracle license renewals, SharePlex, and setting up an air gap data center due to SEBI regulations. - IT infrastructure and compliance-related capex ongoing to support business scale and regulatory needs.

- FY '26 overall revenue growth is expected to be in the low double digits but likely not reaching mid-teens due to moderate AUM growth forecasted around 11-12%, compared to historical 20% CAGR. - Non-mutual fund (non-MF) businesses are projected to grow around 25%, adding approximately INR 50-70 crores in revenue, with payments, alternatives, and KRA as key growth drivers. - AIF revenue grew 16-18% year-on-year, expected to scale up further with automation and increased delivery. - KRA business accounts have grown from 1.8 crore to over 1.9 crore PANs, with significant penetration potential in demat and broking accounts. - Payment aggregator business is expanding into education institutions and new products like payment gateways, contributing to growth. - Insurance repository volumes have nearly doubled recently, with further growth expected following LIC integration. - Long-term, the company targets sustained high growth in non-MF businesses alongside moderate MF asset growth.

- FY '26 revenue growth is expected to be moderate, with AUM growth anticipated around 11-12%, leading to overall revenue growth of 8-9%. - Non-mutual fund (non-MF) segments are projected to grow around 25%, adding approximately INR50 crores to revenue, with potential to reach INR60-70 crores. - EBITDA margins for FY '26 are likely to moderate slightly from 46% to around 44%, due to pricing impacts and cost factors. - Non-MF businesses aim to improve EBITDA margins from 10-15% in FY '25 to about 20% in FY '26, positively impacting overall margins. - Employee costs expected to stabilize at about 33% of revenues with some manpower rationalization via automation and re-architecture. - Capex will increase, especially due to IT re-architecture, with an estimated additional INR50 crores in IT spend in FY '26. - Overall, double-digit low teens growth in earnings is challenging under the moderate asset growth assumption but possible if AUM grows 20%.

The document does not explicitly mention current or expected orderbook/pending orders for Computer Age Management Services Limited. However, relevant insights related to client additions and contract renewals include: - Crossed 200 clients threshold in AIF segment with significant market leadership and 50% market share in outsourced AIF services. - Added 4-5 new AMCs recently and expect another 4-5 to start operations in the next 6 months (total about 9-10 new AMCs). - No major new contracts pending renewal in FY '26; only 2-3 smaller contracts under regular renewal. - Strong revenue growth and new mandates in Alternatives (56 new mandate wins in the year). - Expansion in CAMSPay and BIMA-ASBA with increasing client adoption. - Digital onboarding market with 200+ installations across India. No concrete quantitative orderbook or pending order values were provided.

- The company plans significant capital expenditure (capex) in FY '26: - Around INR 100 crores on the re-architecture project. - Approximately INR 70 crores on other capex. - There will be cash outflow for these capex investments in the year. - Regular capex in FY '26 is expected to be around INR 50 crores on IT and INR 10-15 crores on other capex. - No explicit mention of new fundraising through debt or equity was stated in the provided content. - Capex spending is funded internally, and no indication of raising fresh debt or equity has been disclosed.