Nuvama Wealth Management Ltd
NUVAMA NSE
Nuvama Wealth Management Ltd
Capital Markets F&ONSE: NUVAMA BSE: 543988 Wealth
Key Fundamentals
SmallcapWealthCapital MarketsMarket Cap
₹31,289 Cr
Volatility
Moderate
P/E Ratio
29.31
EBITDA
₹2,441 Cr
Return on Equity
28.2%
Debt to Equity
2.8
Book Value
₹223.39
EPS
₹203.79
52W High
₹2,066
52W Low
₹1,096.9
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Nuvama Wealth Management Ltd insights
39 extracted metrics + investor summaries across FY20–FY27.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
3- Company has delivered good profit growth of 58.7% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.7%
- Company has been maintaining a healthy dividend payout of 25.7%
Weaknesses
2- Stock is trading at 7.65 times its book value
- Promoters have pledged 62.8% of their holding.
Growth Rate
Revenue Growth
11.07% ↗
Net Income Growth
5.61% ↘
Cash Flow Change
77.62% ↗
ROE
30.86% ↗
ROCE
18.19% ↗
EBITDA Margin (Avg.)
-2.00% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
Nuvama Wealth Management is a capital markets firm with a market cap of ~₹30,928 Cr trading at 28.8x earnings and 7.6x book value. The company delivered FY25 revenue of ₹2,901 Cr (up 41% YoY) and profit of ₹986 Cr (up 65% YoY), with client assets reaching ₹4.3 trillion. However, promoter pledge remains elevated at 62.8% and the PE-sponsor promoter (PAG) has been exploring a stake sale.
Bull Case 8
- FY25 revenue grew 41% YoY to ₹2,901 Cr with a 4-year revenue CAGR of 31%, indicating strong and consistent top-line momentum
- FY25 operating PAT grew 65% YoY to ₹986 Cr, with a 5-year profit CAGR of ~59%, demonstrating exceptional earnings compounding
- Client assets reached ₹4.3 trillion at end of FY25 (up 24% YoY), reflecting strong net flows and market-driven AUM expansion
- 3-year average ROE of ~28% signals highly efficient capital deployment relative to capital markets peers
- Wealth management segment revenue grew 23% YoY in Q4 FY26, showing the annuity-like recurring revenue base continues to scale
- Healthy dividend payout ratio of 25.7% with interim dividend of ₹70 per share declared in H1 FY26, returning capital to shareholders
- Diversified revenue streams across UHNI/Family Offices, HNI/Affluent, and Corporate/Institutional segments with ~1,300 relationship managers providing distribution scale
- Stock has delivered 22% return over the trailing 1-year period, outperforming broader market indices
Bear Case 8
- Promoters have pledged 62.8% of their holding, creating significant overhang risk and potential forced selling in a downturn
- Stock trades at 7.6x price-to-book, a steep premium that leaves limited margin of safety if growth decelerates
- PE sponsor PAG (holding 54.13% via two entities) has been exploring a stake sale, which could create large supply overhang and price pressure
- TTM profit growth has decelerated sharply to just 5% versus 51% CAGR over 3 years, suggesting the high-growth phase may be moderating
- TTM revenue growth has slowed to 13% compared to 28% 3-year CAGR, indicating potential normalization of the business cycle
- Capital markets revenues are inherently cyclical and correlated to equity market volumes; a sustained market downturn would compress AUM and transaction income
- PE ratio of 28.8x is elevated for a financial services company, pricing in continued strong growth that may not materialize if market conditions weaken
- Dividend yield of only 0.83% provides limited downside cushion for investors at current valuation levels
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 20h ago Positives 1
- All 5 postal ballot resolutions passed Aug 2
Shareholders approved all five special resolutions on August 1, 2026, including the ESAR Scheme 2026 and remuneration revisions for key executives, signaling strong governance alignment.
Neutral 2
- Investor meets in Aug 2026 Aug 5
Nuvama will participate in analyst and institutional investor meetings in Singapore, Hong Kong, and Mumbai during August 2026, discussing Q4FY26 investor presentation without sharing UPSI.
- Q1FY27 earnings call July 31 Jul 23
Nuvama will host an earnings call on July 31, 2026 to discuss Q1FY27 results and a proposed Non-Convertible Debenture issuance.
TL;DR: Nuvama Wealth shows steady corporate governance with unanimous shareholder approval of key resolutions including ESAR Scheme 2026. The company is actively engaging institutional investors across Asian financial hubs and exploring NCD issuance for capital raising. No material headwinds are visible in recent news flow. The trend appears stable with potential capital market activity ahead via NCDs.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 648 | 735 | 841 | 929 | 949 | 1,053 | 1,034 | 1,120 | 1,123 | 1,135 | 1,104 | 1,269 | 1,376 |
| Expenses | 357 | 375 | 396 | 464 | 457 | 488 | 453 | 545 | 511 | 541 | 497 | 641 | 652 |
| Operating Profit | 290 | 360 | 445 | 465 | 493 | 565 | 582 | 575 | 612 | 593 | 607 | 629 | 724 |
| OPM % | 45% | 49% | 53% | 50% | 52% | 54% | 56% | 51% | 54% | 52% | 55% | 50% | 53% |
| Other Income | 4 | 3 | 2 | 0 | 7 | 4 | 1 | 9 | 3 | 8 | 2 | 20 | 8 |
| Interest | 119 | 147 | 171 | 183 | 183 | 200 | 225 | 215 | 240 | 237 | 242 | 258 | 295 |
| Depreciation | 22 | 24 | 45 | 45 | 20 | 21 | 24 | 29 | 24 | 25 | 27 | 36 | 27 |
| PBT | 153 | 191 | 231 | 237 | 297 | 347 | 334 | 340 | 351 | 339 | 340 | 355 | 411 |
| Tax % | 19% | 24% | 24% | 24% | 26% | 26% | 25% | 25% | 25% | 25% | 25% | 24% | 26% |
| Net Profit | 123 | 145 | 176 | 181 | 221 | 257 | 252 | 255 | 264 | 254 | 254 | 269 | 306 |
| EPS in Rs | 7.02 | 8.28 | 10.01 | 10.24 | 12.49 | 14.43 | 14.05 | 14.2 | 14.66 | 14.09 | 13.96 | 14.79 | 16.75 |
Profit & Loss
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 780 | 1,384 | 1,778 | 2,223 | 3,156 | 4,162 | 4,631 | 4,884 |
| Expenses | 281 | 939 | 1,132 | 1,340 | 1,591 | 1,942 | 2,189 | 2,331 |
| Operating Profit | 499 | 444 | 646 | 883 | 1,565 | 2,220 | 2,441 | 2,553 |
| OPM % | 64% | 32% | 36% | 40% | 50% | 53% | 53% | 52% |
| Other Income | 76 | -565 | 638 | 8 | 3 | 14 | 33 | 38 |
| Interest | 200 | 246 | 278 | 396 | 620 | 822 | 977 | 1,032 |
| Depreciation | 15 | 50 | 71 | 89 | 136 | 94 | 113 | 115 |
| PBT | 360 | -417 | 935 | 406 | 812 | 1,318 | 1,385 | 1,445 |
| Tax % | 21% | 14% | 8% | 25% | 23% | 25% | 25% | — |
| Net Profit | 286 | -475 | 857 | 305 | 625 | 985 | 1,040 | 1,082 |
| EPS in Rs | — | — | — | — | 35.43 | 54.82 | 57.19 | 59.59 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 53% | 24% | — |
Balance Sheet
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 26 | 35 | 35 | 35 | 35 | 36 | 36 |
| Reserves | 1,056 | 1,592 | 1,896 | 2,219 | 2,859 | 3,454 | 4,085 |
| Borrowings | 1,287 | 1,428 | 3,549 | 5,413 | 6,746 | 7,839 | 11,544 |
| Other Liabilities | 2,841 | 4,397 | 5,119 | 5,048 | 10,747 | 17,059 | 18,827 |
| Total Liabilities | 5,211 | 7,451 | 10,598 | 12,716 | 20,387 | 28,388 | 34,491 |
| Fixed Assets | 108 | 162 | 219 | 284 | 290 | 312 | 289 |
| CWIP | 4 | 22 | 18 | 25 | 8 | 5 | 0 |
| Investments | 665 | 25 | 70 | 170 | 170 | 221 | 358 |
| Other Assets | 4,434 | 7,242 | 10,292 | 12,237 | 19,920 | 27,850 | 33,844 |
| Total Assets | 5,211 | 7,451 | 10,598 | 12,716 | 20,387 | 28,388 | 34,491 |
Cash Flow
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Operating | -500 | -1,108 | -1,425 | -1,865 | -1,658 | -371 | -3,014 |
| Investing | -112 | -124 | -81 | -173 | -79 | -63 | -128 |
| Financing | 235 | 877 | 2,139 | 1,825 | 1,316 | 601 | 3,181 |
| Net Cash Flow | -376 | -354 | 633 | -212 | -422 | 166 | 40 |
| Free Cash Flow | -516 | -1,127 | -1,475 | -1,942 | -1,739 | -403 | -3,041 |
| CFO/OP | -99 | -240 | -210 | -203 | -93 | -2 | -110 |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 163 | 72 | 183 | 146 | 74 | 66 | 79 |
| Inventory Days | 1,378 | — | — | — | — | — | — |
| Days Payable | 748 | — | — | — | — | — | — |
| Cash Conversion Cycle | 793 | 72 | 183 | 146 | 74 | 66 | 79 |
| Working Capital Days | -912 | -860 | -503 | -277 | -966 | -1,234 | -1,148 |
| ROCE % | — | 17% | 14% | 12% | 17% | 20% | 17% |
Documents
1
Board Meeting Outcome for Outcome Of The Board Meeting Held On May 11, 2026
6h - Board approved FY26 audited results and interim dividend of Rs. 14/share; record date May 15, 2026. 6h - Board approved FY26 audited results and interim dividend of Rs. 14/share; record date May 15, 2026.
2
Record Date Intimation
5h - Board approved FY26 audited results and Rs14 interim dividend; record date May 15, 2026, payout by June 9. 5h - Board approved FY26 audited results and Rs14 interim dividend; record date May 15, 2026, payout by June 9.
3
Corporate Action-Board approves Dividend
5h - Board approved FY26 audited results and Rs.14 interim dividend; record date May 15, 2026, payout by June 9. 5h - Board approved FY26 audited results and Rs.14 interim dividend; record date May 15, 2026, payout by June 9.
4
Outcome Of Board Meeting Held On May 11, 2026
6h - Board approved FY26 audited results and Rs.14 interim dividend; record date May 15, 2026. 6h - Board approved FY26 audited results and Rs.14 interim dividend; record date May 15, 2026.
Frequently Asked Questions about Nuvama Wealth Management Ltd
What does Nuvama Wealth Management Ltd do?
Incorporated in 1993, Nuvama Wealth Management Ltd is in the business of
broking and trading in equity securities and is also registered as an Investment Adviser and Merchant Banker with SEBI[1]
Where is Nuvama Wealth Management Ltd (NUVAMA) listed?
Nuvama Wealth Management Ltd is listed on the Indian stock exchanges. It is listed on NSE: NUVAMA and BSE: 543988. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Nuvama Wealth Management Ltd belong to?
Nuvama Wealth Management Ltd operates in the Capital Markets sector within the Wealth industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Nuvama Wealth Management Ltd?
Nuvama Wealth Management Ltd has a market capitalisation of approximately ₹31288.90 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Nuvama Wealth Management Ltd?
The Price-to-Earnings (PE) ratio of Nuvama Wealth Management Ltd is 29.31. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Nuvama Wealth Management Ltd?
Over the past 52 weeks, Nuvama Wealth Management Ltd has traded between a low of ₹1,096.9 and a high of ₹2,066. This range helps investors understand the stock's price volatility and recent trading levels.
Does Nuvama Wealth Management Ltd pay dividends?
Yes, Nuvama Wealth Management Ltd has a dividend yield of 0.81%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Nuvama Wealth Management Ltd?
Nuvama Wealth Management Ltd has a Return on Equity (ROE) of 28.20%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Nuvama Wealth Management Ltd on Tapetide?
On Tapetide, you can view Nuvama Wealth Management Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Incorporated in 1993, Nuvama Wealth Management Ltd is in the business of broking and trading in equity securities and is also registered as an Investment Adviser and Merchant Banker with SEBI[1]