{"id":294058,"date":"2026-10-08T10:51:31","date_gmt":"2026-10-08T05:21:31","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=294058"},"modified":"2026-10-08T10:51:31","modified_gmt":"2026-10-08T05:21:31","slug":"fund-house-and-credit-rating-stocks-strong-roadmap","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/","title":{"rendered":"3 Fund House and Credit Rating Stocks With a Strong Future Roadmap: HDFC Asset Management Company, SBI Funds Management and ICRA"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>HDFC AMC Rs 2,314.80, P\/E 34.22. SBI Funds Rs 501.20, P\/E 33.40. ICRA Rs 4,346.30, P\/E 21.38. Closing prices of 7 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Fund house and credit rating stocks with the clearest long-term roadmaps today include HDFC Asset Management Company in mutual fund management, SBI Funds Management in mutual fund management through the SBI network and ICRA in credit ratings and analytical services. FY26 revenue growth was 13.8% at HDFC AMC, 17.5% at SBI Funds and 17.2% at ICRA. P\/E stands at 34.22 for HDFC AMC (industry 17.80), 33.40 for SBI Funds (industry 17.80) and 21.38 for ICRA (industry 33.41). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Fund house and credit rating stocks give investors exposure to asset-light financial firms that earn fees from managing mutual funds and rating debt. Results depend on market levels, SIP flows and debt issuance, which is why fee income and cash conversion matter as much as headline growth.<\/p>\n<p>This list covers three asset-light financial stocks: HDFC Asset Management Company for mutual fund management, SBI Funds Management for mutual fund management through the SBI network and ICRA for credit ratings and analytical services. Every figure comes from the latest reported financials and the 7 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=fund-house-and-credit-rating-stocks-strong-roadmap\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#What_Are_Fund_House_and_Credit_Rating_Stocks\" title=\"What Are Fund House and Credit Rating Stocks?\">What Are Fund House and Credit Rating Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Fund_House_and_Credit_Rating_Stocks_at_a_Glance\" title=\"Fund House and Credit Rating Stocks at a Glance\">Fund House and Credit Rating Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Why_Do_Fund_House_and_Credit_Rating_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Fund House and Credit Rating Stocks Have a Strong Roadmap in India?\">Why Do Fund House and Credit Rating Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#HDFC_Asset_Management_Company_Mutual_Fund_Management_Anchors_the_Roadmap\" title=\"HDFC Asset Management Company: Mutual Fund Management Anchors the Roadmap\">HDFC Asset Management Company: Mutual Fund Management Anchors the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#SBI_Funds_Management_A_Wide_Distribution_Network_Drives_the_Pipeline\" title=\"SBI Funds Management: A Wide Distribution Network Drives the Pipeline\">SBI Funds Management: A Wide Distribution Network Drives the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#ICRA_Credit_Ratings_and_Analytics_Build_the_Next_Leg\" title=\"ICRA: Credit Ratings and Analytics Build the Next Leg\">ICRA: Credit Ratings and Analytics Build the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Best_Fund_House_and_Credit_Rating_Stocks_in_India_HDFC_AMC_vs_SBI_Funds_vs_ICRA_on_Key_Financials\" title=\"Best Fund House and Credit Rating Stocks in India: HDFC AMC vs SBI Funds vs ICRA on Key Financials\">Best Fund House and Credit Rating Stocks in India: HDFC AMC vs SBI Funds vs ICRA on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#How_to_Evaluate_Mutual_Fund_Manager_and_Rating_Agency_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Mutual Fund Manager and Rating Agency Stocks to Buy Before You Invest\">How to Evaluate Mutual Fund Manager and Rating Agency Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Risks_to_Consider_Before_Investing_in_Fund_House_and_Credit_Rating_Stocks\" title=\"Risks to Consider Before Investing in Fund House and Credit Rating Stocks\">Risks to Consider Before Investing in Fund House and Credit Rating Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#FAQs_on_Fund_House_and_Credit_Rating_Stocks\" title=\"FAQs on Fund House and Credit Rating Stocks\">FAQs on Fund House and Credit Rating Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Which_are_the_best_fund_house_and_credit_rating_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best fund house and credit rating stocks in India with a strong roadmap?\">Which are the best fund house and credit rating stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Is_HDFC_Asset_Management_Company_a_good_stock_to_buy_now\" title=\"Is HDFC Asset Management Company a good stock to buy now?\">Is HDFC Asset Management Company a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#What_is_the_PE_ratio_of_HDFC_AMC_SBI_Funds_and_ICRA\" title=\"What is the P\/E ratio of HDFC AMC, SBI Funds and ICRA?\">What is the P\/E ratio of HDFC AMC, SBI Funds and ICRA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Which_of_these_fund_house_and_credit_rating_stocks_has_the_highest_return_on_equity\" title=\"Which of these fund house and credit rating stocks has the highest return on equity?\">Which of these fund house and credit rating stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#What_are_the_risks_of_investing_in_fund_house_and_credit_rating_stocks\" title=\"What are the risks of investing in fund house and credit rating stocks?\">What are the risks of investing in fund house and credit rating stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#How_did_HDFC_AMC_SBI_Funds_and_ICRA_perform_in_Q1_FY27\" title=\"How did HDFC AMC, SBI Funds and ICRA perform in Q1 FY27?\">How did HDFC AMC, SBI Funds and ICRA perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#Do_fund_house_and_credit_rating_stocks_pay_dividends\" title=\"Do fund house and credit rating stocks pay dividends?\">Do fund house and credit rating stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/fund-house-and-credit-rating-stocks-strong-roadmap\/#How_can_I_invest_in_fund_house_and_credit_rating_stocks_in_India\" title=\"How can I invest in fund house and credit rating stocks in India?\">How can I invest in fund house and credit rating stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Fund_House_and_Credit_Rating_Stocks\"><\/span><strong>What Are Fund House and Credit Rating Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Fund house and credit rating stocks are shares of companies that charge fees to manage mutual funds or to rate borrowers and debt instruments. Results depend on market levels, investor flows, debt issuance and operating costs, so strong brands and steady fee streams separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fund_House_and_Credit_Rating_Stocks_at_a_Glance\"><\/span><strong>Fund House and Credit Rating Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three fund house and credit rating stocks as of the 7 October 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/hdfcamc\/hdfc-asset-management-company-ltd-share-price-today\">HDFC Asset Management Company<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,314.80<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,00,875<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">34.22<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.80<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">30.97%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/sbifunds\/sbi-funds-management-ltd-share-price-today\">SBI Funds Management<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">501.20<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,02,442<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">33.40<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.80<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">51.44%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/icra\/icra-ltd-share-price-today\">ICRA<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,346.30<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,195<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.38<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">33.41<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.37%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.02<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among asset-light financial stocks, ICRA trades below the industry P\/E, while HDFC AMC and SBI Funds trade at a premium to the industry multiple.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Fund_House_and_Credit_Rating_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Fund House and Credit Rating Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Fund house and credit rating stocks have a strong roadmap in India because household savings are moving into mutual funds, SIP flows are steady and debt markets are widening. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Savings shift to funds:<\/strong> More households invest through mutual funds.<\/li>\n<li><strong>Steady SIP flows:<\/strong> Monthly investments add to assets under management.<\/li>\n<li><strong>Wider debt markets:<\/strong> More issuers need credit ratings.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"HDFC_Asset_Management_Company_Mutual_Fund_Management_Anchors_the_Roadmap\"><\/span><strong>HDFC Asset Management Company: Mutual Fund Management Anchors the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>HDFC AMC&#8217;s roadmap rests on mutual fund management, with SIP flows and equity-oriented funds lifting assets under management.<\/p>\n<p>FY26 revenue was Rs 4,622.20 crore, 13.8% higher than FY25. FY26 net profit rose 16.2% to Rs 2,858.06 crore. In Q1 FY27, revenue grew 13.4% to Rs 1,362.56 crore, and net profit rose 12.0% to Rs 837.13 crore.<\/p>\n<p>Debt to equity is 0.00 and return on equity is 30.97%. FY26 operating cash flow was Rs 2,527.81 crore against capital expenditure of Rs 22.62 crore. HDFC AMC paid a dividend of Rs 54 per share for FY26, a yield of 2.29%. At a P\/E of 34.22 against an industry P\/E of 17.80, the stock trades above its industry multiple.<\/p>\n<p>What to watch: FY26 net profit growth of 16.2% needs to continue through the next quarters to support a P\/E of 34.22. The P\/E of 34.22 sits above the industry P\/E of 17.80, so earnings delivery matters for the valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"SBI_Funds_Management_A_Wide_Distribution_Network_Drives_the_Pipeline\"><\/span><strong>SBI Funds Management: A Wide Distribution Network Drives the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>SBI Funds&#8217; roadmap rests on mutual fund management through the SBI network, with wide branch reach and SIP flows lifting assets under management.<\/p>\n<p>Revenue grew from Rs 2,000.14 crore in FY22 to Rs 4,976.11 crore in FY26, a 148.8% rise, and FY26 revenue was 17.5% higher than FY25. FY26 net profit rose 20.8% to Rs 3,067.38 crore. Over four years, net profit rose from Rs 1,082.37 crore in FY22 to Rs 3,067.38 crore. In Q1 FY27, revenue grew 4.6% to Rs 1,389.89 crore, and net profit rose 3.7% to Rs 880.26 crore.<\/p>\n<p>Debt to equity is 0.00 and return on equity is 51.44%. FY26 operating cash flow was Rs 2,487.60 crore against capital expenditure of Rs 28.09 crore. SBI Funds paid a dividend of Rs 79.6 per share for FY26, a yield of 15.83%. At a P\/E of 33.40 against an industry P\/E of 17.80, the stock trades above its industry multiple.<\/p>\n<p>What to watch: FY26 net profit growth of 20.8% needs to continue through the next quarters to support a P\/E of 33.40. The P\/E of 33.40 sits above the industry P\/E of 17.80, so earnings delivery matters for the valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ICRA_Credit_Ratings_and_Analytics_Build_the_Next_Leg\"><\/span><strong>ICRA: Credit Ratings and Analytics Build the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>ICRA&#8217;s roadmap rests on credit ratings and analytical services, with rising debt issuance and new rating mandates supporting revenue.<\/p>\n<p>Revenue grew from Rs 383.68 crore in FY22 to Rs 674.53 crore in FY26, a 75.8% rise, and FY26 revenue was 17.2% higher than FY25. FY26 net profit rose 6.6% to Rs 182.53 crore. Over four years, net profit rose from Rs 113.53 crore in FY22 to Rs 182.53 crore. In Q1 FY27, revenue grew 28.3% to Rs 191.00 crore, and net profit rose 32.0% to Rs 56.46 crore. Operating margin was 47.23% in FY26 and 53.32% in Q1 FY27 against 51.50% a year earlier.<\/p>\n<p>Debt to equity is 0.02 and return on equity is 15.37%. FY26 operating cash flow was Rs 157.26 crore against capital expenditure of Rs 12.49 crore. ICRA paid a dividend of Rs 105 per share for FY26, a yield of 2.42%. At a P\/E of 21.38 against an industry P\/E of 33.41, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The FY26 operating margin of 47.23% was below the 51.24% of FY25.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Fund_House_and_Credit_Rating_Stocks_in_India_HDFC_AMC_vs_SBI_Funds_vs_ICRA_on_Key_Financials\"><\/span><strong>Best Fund House and Credit Rating Stocks in India: HDFC AMC vs SBI Funds vs ICRA on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best fund house and credit rating stocks in India, ICRA leads on Q1 FY27 revenue growth and the lowest P\/E; SBI Funds leads on five-year revenue growth and return on equity. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">HDFC AMC<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">SBI Funds<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ICRA<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,622.20<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,976.11<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">674.53<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,858.06<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,067.38<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">182.53<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.8%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.4%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">28.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 net profit growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.0%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.7%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">32.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">30.97%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">51.44%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.37%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">34.22<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">33.40<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.38<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.02<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.29%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.83%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2.42%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating cash flow (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,527.81<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,487.60<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">157.26<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Fund and rating earnings follow market levels and flows, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Mutual_Fund_Manager_and_Rating_Agency_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Mutual Fund Manager and Rating Agency Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen fund house and credit rating stocks and shortlist mutual fund manager and rating agency stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by stock.<\/li>\n<li>Track operating margin across several quarters, because input costs can move faster than prices.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these fund house and credit rating stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Fund_House_and_Credit_Rating_Stocks\"><\/span><strong>Risks to Consider Before Investing in Fund House and Credit Rating Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Market-linked income:<\/strong> Falling markets reduce assets under management and fees.<\/li>\n<li><strong>Valuation:<\/strong> HDFC AMC and SBI Funds trade at 34.22 and 33.40 times earnings against an industry multiple of 17.80.<\/li>\n<li><strong>Slower quarter:<\/strong> SBI Funds&#8217; Q1 FY27 net profit grew only about 4%.<\/li>\n<li><strong>Modest growth:<\/strong> ICRA&#8217;s FY26 net profit grew about 7%.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track HDFC AMC, SBI Funds and ICRA live.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three mutual fund manager and rating agency stocks cover mutual fund management, fund management through a wide network, and credit ratings. ICRA leads on Q1 FY27 revenue growth and the lowest P\/E; SBI Funds leads on five-year revenue growth and return on equity.<\/p>\n<p>Across asset-light financial stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the mutual fund manager and rating agency stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Fund_House_and_Credit_Rating_Stocks\"><\/span><strong>FAQs on Fund House and Credit Rating Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_fund_house_and_credit_rating_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best fund house and credit rating stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> HDFC Asset Management Company, SBI Funds Management and ICRA stand out for their roadmaps in mutual fund management and credit ratings. FY26 revenue growth was 13.8% at HDFC AMC, 17.5% at SBI Funds and 17.2% at ICRA, and return on equity ranges from 15.37% to 51.44%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_HDFC_Asset_Management_Company_a_good_stock_to_buy_now\"><\/span><strong>Is HDFC Asset Management Company a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> HDFC Asset Management Company has a debt to equity ratio of 0.00, a return on equity of 30.97% and a P\/E of 34.22 against an industry P\/E of 17.80. Market-linked income, valuation and slower growth move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_HDFC_AMC_SBI_Funds_and_ICRA\"><\/span><strong>What is the P\/E ratio of HDFC AMC, SBI Funds and ICRA?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 34.22 for HDFC AMC (industry 17.80), 33.40 for SBI Funds (industry 17.80) and 21.38 for ICRA (industry 33.41). Only HDFC AMC and SBI Funds trade at or above the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_fund_house_and_credit_rating_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these fund house and credit rating stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> SBI Funds Management has the highest return on equity at 51.44%, followed by HDFC Asset Management Company at 30.97% and ICRA at 15.37%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_fund_house_and_credit_rating_stocks\"><\/span><strong>What are the risks of investing in fund house and credit rating stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are market-linked income, premium valuations at two firms and slower growth at others. HDFC AMC and SBI Funds trade at 34.22 and 33.40 times earnings against an industry multiple of 17.80.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_HDFC_AMC_SBI_Funds_and_ICRA_perform_in_Q1_FY27\"><\/span><strong>How did HDFC AMC, SBI Funds and ICRA perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> HDFC Asset Management Company reported revenue of Rs 1,362.56 crore, up 13.4% year on year, and net profit rose 12.0% to Rs 837.13 crore. SBI Funds Management reported revenue of Rs 1,389.89 crore, up 4.6% year on year, and net profit rose 3.7% to Rs 880.26 crore. ICRA reported revenue of Rs 191.00 crore, up 28.3% year on year, and net profit rose 32.0% to Rs 56.46 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_fund_house_and_credit_rating_stocks_pay_dividends\"><\/span><strong>Do fund house and credit rating stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Yes, all three companies pay dividends. The dividend yield is 2.29% for HDFC AMC, 15.83% for SBI Funds and 2.42% for ICRA, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_fund_house_and_credit_rating_stocks_in_India\"><\/span><strong>How can I invest in fund house and credit rating stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy fund house and credit rating stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best fund house and credit rating stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"HDFC Asset Management Company, SBI Funds Management and ICRA stand out for their roadmaps in mutual fund management and credit ratings. FY26 revenue growth was 13.8% at HDFC AMC, 17.5% at SBI Funds and 17.2% at ICRA, and return on equity ranges from 15.37% to 51.44%.\"}},{\"@type\":\"Question\",\"name\":\"Is HDFC Asset Management Company a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"HDFC Asset Management Company has a debt to equity ratio of 0.00, a return on equity of 30.97% and a P\/E of 34.22 against an industry P\/E of 17.80. Market-linked income, valuation and slower growth move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.\"}},{\"@type\":\"Question\",\"name\":\"What is the P\/E ratio of HDFC AMC, SBI Funds and ICRA?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The P\/E ratio is 34.22 for HDFC AMC (industry 17.80), 33.40 for SBI Funds (industry 17.80) and 21.38 for ICRA (industry 33.41). Only HDFC AMC and SBI Funds trade at or above the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these fund house and credit rating stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"SBI Funds Management has the highest return on equity at 51.44%, followed by HDFC Asset Management Company at 30.97% and ICRA at 15.37%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in fund house and credit rating stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are market-linked income, premium valuations at two firms and slower growth at others. 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The dividend yield is 2.29% for HDFC AMC, 15.83% for SBI Funds and 2.42% for ICRA, based on dividends declared for FY26.\"}},{\"@type\":\"Question\",\"name\":\"How can I invest in fund house and credit rating stocks in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"You can buy fund house and credit rating stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>HDFC Asset Management Company, SBI Funds Management and ICRA compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":36,"featured_media":294057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[9953,9955,7154,9954,9956],"class_list":["post-294058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-fund-house-and-credit-rating-stocks","tag-hdfc-asset-management-company","tag-icra","tag-mutual-fund-manager-and-rating-agency-stocks","tag-sbi-funds-management"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["294057"],"rank_math_title":["Fund House and Credit Rating Stocks: HDFC AMC, SBI Funds, ICRA"],"rank_math_description":["Fund house and credit rating stocks with a strong roadmap: HDFC Asset Management Company, SBI Funds Management and ICRA compared on growth, margins, valuation and risks."],"rank_math_focus_keyword":["fund house and credit rating stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-fund-house-and-credit-rating-stocks-with-a-strong-future-roadmap-hdfc-asset.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/294058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=294058"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/294058\/revisions"}],"predecessor-version":[{"id":294059,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/294058\/revisions\/294059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/294057"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=294058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=294058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=294058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}