UTI AMC slips 10% on posting weak Q2 nos; here's what brokerages suggest

UTI AMC's revenue for the second quarter slipped 22 per cent Y-o-Y to ₹419 crore, as against ₹538 crore

UTI Asset Management Company (UTI AMC) shares slipped 9.9 per cent, logging an intra-day low at  ₹1263.3 per share after the company reported weak second quarter (Q2FY26) numbers on Saturday, October 18, 2025. At 10:57 AM, UTI AMC share price was down 7.33 per cent at ₹1,300 per share. In comparison, BSE Sensex was up 0.67 per cent at  84,513.33. 

 

UTI AMC Q2 results: Key highlights

• Consolidated net profit tanked 53 per cent year-on-year (Y-o-Y) in Q2FY26 to ₹113 crore, as against ₹239 crore.
• The company's revenue for the second quarter slipped 22 per cent Y-o-Y to ₹419 crore, as against ₹538 crore. 
• Total income for the quarter under review declined 22 per cent to ₹421 crore, as compared to ₹540 crore Y-o-Y.
• Total expenses grew 26 per cent Y-o-Y to ₹257 crore, against ₹204 crore. 
• The total group AUM for UTI Asset Management Company stood at ₹ 22,41,837 crore. 
• As of September 30, 2025, UTI MF’s quarterly average assets under management (QAAUM) were ₹3,78,413 crore. Equity Assets (Active + Passive) contributed 69 per cent to UTI MF’s total average AUM. 

Brokerages' view on UTI AMC stock

Nuvama Institutional Equities has maintained ‘Buy’ and has raised the target to ₹1,650, from ₹1,407 per share.  While incorporating the impact of the voluntary retirement scheme (VRS) and pension-related one-offs, Nuvama sees these as short-term drags, not structural issues. Additionally, according to the brokerage, UTI AMC still trades at a steep 50 per cent discount to HDFC AMC’s multiple, offering room for re-rating as operations stabilise. 

 

“We are building on the impact of VRS and revising FY26E/27E/28E NOPLAT by –(8.2)/0/(0.8) per cent,” the brokerage said. 

 

On the other hand, JM Financial Institutional Equities has downgraded UTI AMC to ‘Reduce’ from ‘Hold’, cutting the target to ₹1,350 from ₹1,500 per share.  

“Estimating the impact of the VRS, we cut FY26e earnings per share (EPS) by 15 per cent, maintain FY27e EPS and raise FY28e EPS by 3 per cent. The company continues to lose market share in systematic investment plan (SIP) inflows and stock equity AUM,” JM Financial said.