Nuvama Wealth Management Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹32,918 Cr
- P/E
- 30.39
- ROE
- 27.36%
- PEG
- 0.59
- Price to sales
- 6.75
- Debt to equity
- 2.80
- 52W high / low
- ₹7,615 / ₹1,111
- Sales growth (5Y)
- 27.36%
- EBITDA margin
- 52.28%
- Net profit margin
- 22.43%
- Promoter holding
- 53.40%
- Sales (last year)
- ₹4,884 Cr
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]
Guidance scorecard · Q1 FY27 call
What Nuvama Wealth Management Ltd's management guided
and where it ranks in Capital Markets
Capital Markets
RevenueQ1 FY27 call
20–40%- Wealth and Private segments are expected to see net new money inflows of INR 20,000 to 24,000 crores in FY27.
- AMC segment anticipated to have inflows between INR 3,500 to 5,500 crores.
- Equity Capital Markets (ECM) activity is expected to improve in the remaining 9 months of FY27 after a slow Q1.
- Fixed income and institutional equities showed marginal growth; fixed income contributed to significant jump in investment banking revenue.
- Expansion beyond Tier 1 cities continues with physical offices in 70-80 locations and relationship manager additions.
- Technology and AI investments will drive efficiency and productivity improvements, especially in wealth management.
2 more points from Nuvama Wealth Management Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Nuvama Wealth Management Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Nuvama Wealth Management is investing in building its asset services business, including ongoing development of RTA (Registrar and Transfer Agent) offering and trusteeship business, expected to roll out soon, aimed at gaining further market share.
- The company is planning new initiatives in the International asset servicing segment, including supporting international clients in GIFT City derivatives and commodities trading.
- There is an intention to develop a global custodian-local custodian strategic partnership to provide India leg services to global players.
- Asset management plans include launching a private credit fund by late Q3 and building a REIT platform over 24 months for commercial real estate assets to have a permanent capital source.
2 more points from Nuvama Wealth Management Ltd's call on capex
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FundraisingQ1 FY27 call
See what Nuvama Wealth Management Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Nuvama Wealth Management Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Capital Markets
on management's own guidance
- Nippon Life Ind.Good growth2
- BSEGood growth1
- Motil.Oswal.Fin.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Capital Markets companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | BSE | 20–40% | Flat | ₹1.37L Cr | 48.4 |
| 2 | Nippon Life Ind. | 20–40% | Flat | ₹68,184 Cr | 41.6 |
| 3 | Motil.Oswal.Fin. | 20–40% | Flat | ₹63,771 Cr | 32.2 |
| 4 | Nuvama Wealth Management LtdThis stock | 20–40% | Flat | ₹31,481 Cr | 29.1 |
| 5 | 20–40% | Flat | ₹15,334 Cr | 43.8 | |
| 6 | 20–40% | Flat | ₹12,638 Cr | 51.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Capital Markets rankingFinancials of Nuvama Wealth Management Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Nuvama Wealth Management Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 613 | 648 | 735 | 841 | 929 | 949 | 1,053 | 1,034 | 1,120 | 1,123 | 1,135 | 1,104 | 1,269 |
| Expenses + | 378 | 357 | 375 | 396 | 464 | 457 | 488 | 453 | 545 | 511 | 541 | 497 | 641 |
| Operating Profit | 235 | 290 | 360 | 445 | 465 | 493 | 565 | 582 | 575 | 612 | 593 | 607 | 629 |
| OPM % | 38% | 45% | 49% | 53% | 50% | 52% | 54% | 56% | 51% | 54% | 52% | 55% | 50% |
| Other Income + | 7 | 4 | 3 | 2 | 0 | 7 | 4 | 1 | 9 | 3 | 8 | 2 | 20 |
| Interest | 99 | 119 | 147 | 171 | 183 | 183 | 200 | 225 | 215 | 240 | 237 | 242 | 258 |
| Depreciation | 31 | 22 | 24 | 45 | 45 | 20 | 21 | 24 | 29 | 24 | 25 | 27 | 36 |
| Profit before tax | 112 | 153 | 191 | 231 | 237 | 297 | 347 | 334 | 340 | 351 | 339 | 340 | 355 |
| Tax % | 24% | 19% | 24% | 24% | 24% | 26% | 26% | 25% | 25% | 25% | 25% | 25% | 24% |
| Net Profit + | 85 | 123 | 145 | 176 | 181 | 221 | 257 | 252 | 255 | 264 | 254 | 254 | 269 |
| EPS in Rs | 7.02 | 8.28 | 10.01 | 10.24 | 12.49 | 14.43 | 14.05 | 14.20 | 14.66 | 14.09 | 13.96 | 14.79 |
Financials of Nuvama Wealth Management Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 780 | 1,384 | 1,778 | 2,223 | 3,156 | 4,162 | 4,631 |
| Expenses + | 281 | 939 | 1,132 | 1,340 | 1,591 | 1,942 | 2,189 |
| Operating Profit | 499 | 444 | 646 | 883 | 1,565 | 2,220 | 2,441 |
| OPM % | 64% | 32% | 36% | 40% | 50% | 53% | 53% |
| Other Income + | 76 | -565 | 638 | 8 | 3 | 14 | 33 |
| Interest | 200 | 246 | 278 | 396 | 620 | 822 | 977 |
| Depreciation | 15 | 50 | 71 | 89 | 136 | 94 | 113 |
| Profit before tax | 360 | -417 | 935 | 406 | 812 | 1,318 | 1,385 |
| Tax % | 21% | 14% | 8% | 25% | 23% | 25% | 25% |
| Net Profit + | 286 | -475 | 857 | 305 | 625 | 985 | 1,040 |
| EPS in Rs | 35.43 | 54.82 | 57.19 | ||||
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | 53% | 24% |
Financials of Nuvama Wealth Management Ltd
Balance Sheet
Capital structure and asset base
| 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 |
Financials of Nuvama Wealth Management Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -500 | -1,108 | -1,425 | -1,865 | -1,658 | -371 | -3,014 |
| Cash from Investing Activity + | -112 | -124 | -81 | -173 | -79 | -63 | -128 |
| Cash from Financing Activity + | 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% |
Financials of Nuvama Wealth Management Ltd
Ratios
Working capital efficiency and return 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% |
Guidance history
How Nuvama Wealth Management Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 10–20% | Flat | — | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
68 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +18.1% | 72% |
| Last 6 months | +21.8% | 75% |
| Last 3 months | −8.4% | 45% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Nuvama Wealth Management Ltd: 0.4 × 72 + 0.4 × 75 + 0.2 × 45 = 68.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Nuvama Wealth Management Ltd's management said in earlier quarters
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