Canara Robeco AMC Q2FY26 Concall Decoded: Faith, Funds & Fees – India’s 2nd Oldest AMC Goes Public (Finally!)

After three decades of cautious compounding, Canara Robeco AMC finally stepped into the limelight with its maiden post-listing concall — and oh boy, it was less of a debut and more of a masterclass in measured confidence. CEO Rajnish Narula sounded like a man who’s run enough SIP campaigns to know patience always wins. “Do not be weary in doing good,” says the Bible — and CRAMC seems to have applied that to AUM growth. The numbers looked more “steady yoga pose” than “Zumba burst,” but that’s the AMC way — no heartburn, just long-term breathing exercises. Stick around; it gets more philosophical (and profitable).

At a Glance

• AUM up 6% YoY – Slow, steady, and absolutely anti-FOMO.
• Revenue up 11% YoY to ₹229.3 crore – Compounding, not adrenaline.
• Operating Profit up 23% YoY to ₹118 crore – The “diet plan” of finance working out well.
• PAT up 9% YoY to ₹109.7 crore – Profits jogged, not sprinted.
• Equity-debt mix: 90:10 – Fully invested in optimism.
• SIP Book: ₹768 crore/month from 21 lakh accounts – India’s retail faith fund.
• Stock? – Listed Oct 16; investors already SIPping the gains.

Management’s Key Commentary

Rajnish Narula: “It’s our first call post-listing; we combine Indian trust with global expertise.”
(Translation: Desi roots, Dutch math, and Japanese ownership — true financial sushi.)

Narula: “We manage ₹1.18 lakh crore AUM with 51 lakh folios.”
(Translation: Half of India knows us by name, other half via SIP.)

CFO Ashwin Purohit: “Operating margin