• Mutual fund yields: Yield compression has stabilized to a normal base rate of 2.5% to 3% year-on-year following a large client price adjustment in FY26. Pricing is expected to remain stable over the next three to four quarters.
• Non-MF segment performance: Non-mutual fund revenue grew nearly 28% year-on-year in Q1 and is guided to sustain over 20% growth for the full year, supported by gains in CAMS Pay and 26% to 27% growth in alternatives.
• Non-MF revenue share: The non-mutual fund business has crossed 15% of total revenue and is targeted to reach 16% in the base case and 17% in the best case by the end of the year.
• Full-year FY27 guidance: Enterprise revenue is expected to grow by around 13% over last year's base of approximately ₹1,430 crore, with EBITDA growth expected to reach around 16%.