Nuvama Wealth Management Ltd

NUVAMA

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Market Cap

₹ 26,428 Cr

P/E

25.77

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

EXCEPTIONAL

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

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Overview

Detailed Summary

Nuvama Wealth Management Limited is a leading integrated wealth management firm in India, offering services such as investment advisory, estate planning, investment management, lending, and broking services. They also provide a wide range of alternative asset management products, primarily focused on Affluent, HNI, UHNIs and institutional clients.

In Q2 FY26, their Wealth and Private businesses reported strong growth, with profit before tax rising 27% YoY. This growth is largely attributed to the firm's client engagement strategies and new client acquisitions.

The company recently declared an interim dividend of ₹70 per share and announced a sub-division of its equity shares from ₹10 to ₹2 face value, indicating confidence in ongoing profitability and commitment to enhancing shareholder returns.

Market trends indicate India's wealth landscape is evolving, with alternatives markets poised for transformation due to strong growth drivers like rising allocations from HNIs and UHNIs and increasing demand for diversified investment portfolios.

Sector

Stock/ Commodity Brokers

Industry

Securities/Commodities Trading Services

Market Cap

26,428 Cr

Volatility

High Risk

P/E Ratio

25.8

Industry P/E

41.1

PEG Ratio

2.0

P/B Ratio

7.0

52W High

8,510.00

52W Low

4,567.80

Sales CAGR

31.87%

56.22%

32.79%

10Y

—

Profit CAGR

57.65%

47.06%

57.35%

10Y

—

ROE

TTM

27.06%

13.26%

11.40%

10Y

—

ROCE

TTM

17.65%

18.65%

16.02%

10Y

—

Technicals

‌

Forecasts

No. of Analysts

12

1Y Price Target

8858.44 ▲ 22.06%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
CDSL	1517.60	31,718 Cr	67.06	18.20	0.82	27.14	35.91	19.82
NUVAMA	7268.00	26,428 Cr	25.77	7.01	1.97	27.06	17.65	4.23
ANGELONE	2577.30	23,452 Cr	29.98	4.04	1.85	13.46	13.77	4.26
NSDL	1071.10	21,422 Cr	58.02	9.89	0.19	17.04	22.30	9.69
IEX	142.25	12,684 Cr	27.10	10.16	2.11	37.54	48.80	24.89
PRUDENT	2682.60	11,142 Cr	54.28	14.61	0.09	26.91	34.30	20.12
IIFLCAPS	314.70	9,746 Cr	16.67	3.47	0.95	20.81	20.41	6.45

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	648	735	841	927	949	1,051	1,032	1,120	1,123	1,135
Expenses	357	375	396	463	457	488	453	545	511	541
Interest	119	147	171	183	183	200	225	215	240	237
Financing Profit	171	213	273	282	310	364	354	360	372	357
Financing Margin %	26.44	29.00	32.53	30.37	32.68	34.59	34.34	32.15	33.09	31.44
Other Income	3.65	2.60	1.82	0.81	6.67	5.13	3.75	8.72	3.48	7.82
Depreciation	22	24	45	45	20	21	24	29	24	25
Profit Before Tax	153	191	231	237	297	347	334	340	351	339
Tax %	19.42	24.27	23.63	23.83	25.62	25.92	24.66	24.93	24.76	25.13
Net Profit	123	145	176	181	221	257	252	255	264	254
EPS in Rs	34.14	39.98	48.28	49.12	59.48	69.77	68.19	68.89	70.58	68.14
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	760	1,282	1,773	2,215	3,151	4,158	4,326
Expenses	281	939	1,132	1,340	1,592	1,942	1,997
Interest	200	246	278	396	620	822	880
Financing Profit	278	97	364	478	940	1,394	1,450
Financing Margin %	36.60	7.53	20.51	21.59	29.82	33.53	33.51
Other Income	93	97	11	17	8.88	18	21
Depreciation	15	50	71	89	136	94	98
Profit Before Tax	357	143	303	406	812	1,318	1,372
Tax %	20.72	40.56	25.69	24.88	23.05	25.28	25.07
Net Profit	283	-551	857	305	625	985	1,028
EPS in Rs	—	—	—	90.81	171.52	266.33	275.80
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	26	17	17	35	35	36
Reserves	1,056	1,592	1,896	2,219	2,859	3,454
Borrowings	1,287	1,428	3,549	5,413	6,746	7,839
Other Liabilities	2,841	4,414	5,136	5,048	10,746	17,059
Total Liabilities	5,211	7,451	10,598	12,716	20,387	28,388
Fixed Assets	108	162	203	269	278	271
CWIP	4.45	22	18	25	7.68	5.14
Investments	665	25	70	170	170	221
Other Assets	4,434	7,242	10,307	12,252	19,931	27,890
Total Assets	5,211	7,451	10,598	12,716	20,387	28,388

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-500	-1,108	-1,425	-1,865	-1,658	-371
Cash from Investing Activity	-112	-123	-82	-177	-80	-65
Cash from Financing Activity	235	877	2,139	1,825	1,316	601
Net Cash Flow	-376	-354	631	-217	-422	164

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	57.00%	57.00%	55.95%	55.81%	55.68%	55.18%	54.93%	54.78%	54.73%	54.65%
FIIs	9.54%	9.59%	7.16%	6.91%	6.73%	13.88%	15.46%	16.57%	17.14%	16.30%
DIIs	0.81%	0.80%	0.93%	1.27%	1.44%	1.54%	4.71%	5.81%	6.37%	7.60%
Public	32.65%	32.60%	35.96%	36.01%	36.15%	29.40%	24.90%	22.83%	21.76%	21.45%
Total Shareholders	95,071	94,906	78,627	79,220	92,591	1,10,219	1,28,525	1,33,244	1,23,779	1,31,029

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
May 09, 2025	Oxbow master fund limited	Bulk	Sell	5,930.40	154.44 Cr	2,60,414	0.72
May 09, 2025	Bofa securities europe sa	Bulk	Buy	5,930.43	153.87 Cr	2,59,458	0.72
Dec 13, 2024	Jaliyan commodity	Bulk	Buy	6,854.04	78.26 Cr	1,14,178	0.31
Dec 13, 2024	Jaliyan commodity	Bulk	Sell	6,852.10	127.08 Cr	1,85,468	0.51
Dec 12, 2024	Kotak emerging equity scheme	Bulk	Buy	6,851.00	185.78 Cr	2,71,175	0.75
Dec 12, 2024	Ecap equities limited	Bulk	Sell	6,854.15	833.15 Cr	12,15,545	3.37
Dec 12, 2024	Edel finance company limited	Bulk	Sell	6,941.30	926.29 Cr	13,34,455	3.70
Sep 27, 2024	Ecap equities limited	Bulk	Sell	6,702.60	1,146.08 Cr	17,09,907	4.75
Sep 27, 2024	Smallcap world fund inc	Bulk	Buy	6,702.60	788.00 Cr	11,75,666	3.26
Sep 27, 2024	Goldman sachs funds - goldman...	Bulk	Buy	6,702.60	217.53 Cr	3,24,539	0.90

Projection

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Actions

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Announcements

Last 7 days

Newest

Sentiment

Corporate Action

6 days ago

Incorporation of Nuvama Trusteeship Company

Nuvama Wealth Management Limited has officially incorporated a wholly owned subsidiary named Nuvama Trusteeship Company Limited.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

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Overview

Detailed Summary

Sector

Stock/ Commodity Brokers

Industry

Securities/Commodities Trading Services

Market Cap

26,428 Cr

Volatility

High Risk

P/E Ratio

25.8

Industry P/E

41.1

PEG Ratio

2.0

P/B Ratio

7.0

52W High

8,510.00

52W Low

4,567.80

Sales CAGR

31.87%

56.22%

32.79%

10Y

—

Profit CAGR

57.65%

47.06%

57.35%

10Y

—

ROE

TTM

27.06%

13.26%

11.40%

10Y

—

ROCE

TTM

17.65%

18.65%

16.02%

10Y

—