Wealth First Portfolio Managers Ltd. · NSE:WEALTH
Wealth First Portfolio Managers — Q4 FY26 Earnings Presentation
39 slides from Wealth First Portfolio Managers's earnings presentation, May 29, 2026
Slide 1: Cover letter to stock exchanges
DATE: 29TH MAY, 2026 To To Manager - Listing Department Head – Listing Operations, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Plot No. C/1, G Block, P.J. Towers, Dalal Street, Bandra-Kurla Complex, Bandra (E), Fort, Mumbai – 400 001 Mumbai-400051 BSE SCRIP CODE: 544536 NSE SYM
Slide 2: Investor Presentation Q4 & FY26
Investor Presentation Investor Presentation | Q4 & FY26 Q2 & H1 FY26
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides which have been prepared by Wealth First Portfolio Managers Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities
Slide 4: Q4 & FY26 Financial Highlights
Q4 & FY26 Financial Highlights
Slide 5: Management Commentary
Management Commentary Commenting on the results and performance for Q4 & FY26, Mr. Ashish Shah, Managing Director of Wealth First Portfolio Managers Limited said: “We are pleased to report a strong performance for the fourth quarter and financial year ended FY26, with revenue from operations for the
Slide 6: Consistent growth in Business Activity Income
Consistent growth in Business Activity Income (In Rs. Cr) Consistent growth in Reducing Trading Book Size Revenue from Business Activity Income Business Activity Income, which is the core revenue stream has demonstrated strong and -40.9% +26.6% 64.8 58.3 96.5 consistent growth, registering a -100.0%
Slide 7: Financial Highlights for Q4 FY26
Financial Highlights for Q4 FY26 (In Rs. Cr) Revenue from Operations# Trail Base Revenue +9.0% 16.5 12.5 11.4 Q4 FY25 Q4 FY26 -3.3 Q4 FY25 Q4 FY26 PAT & PAT Margin (%) Cost to Income (%)* - 56.2% 30.4% 10.5 23.7% Q4 FY25 Q4 FY26 -4.3 Q4 FY25 Q4 FY26 This slide highlights consolidated data #Revenue f
Slide 8: Financial Highlights for FY26
Financial Highlights for FY26 (In Rs. Cr) Revenue from Operations# Trail Base Revenue PAT & PAT Margin (%) 56.8% 53.9% +28.6% +5.0% +12.1% 68.4 47.5 49.8 38.3 34.2 53.2 FY25 FY26 FY25 FY26 FY25 FY26 AUA Cost to Income (%)* Cost to Income ratio MF +4.6% Cost to income 29.9% has increased in FY26 befo
Slide 9: Operational Performance
Operational Performance Relationship Managers Total Clients 35 41 6,578 6,889 Strong RM Vintage: 20,732 21,746 13 14 2,814 2,980 • RM count increased by 17% YoY 989 1,300 • The RM vintage stood strong with 55% 4 5 3,451 3,319 of RMs being associated with the 8 10 Company for >5 years whereas 30% of
Slide 10: Industry Equity Net Inflows
Equity Net Inflows Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 (In Rs. Cr) 1,64,405 1,46,754 3,46,536 1,84,091 4,17,053 Industry Net Inflows – Net Inflows – Net Inflows – Net Inflows – Net Inflows – SIP SIP SIP SIP SIP Purchases Purchases Purchases Purchases Purchases -9,218 -15,127 1,27,701 -3,053 39,839 1,
Slide 11: Consolidated Profit and Loss
Consolidated Profit and Loss Particulars (in Rs. Cr) Q4 FY26 Q4 FY25 YoY Q3 FY26 QoQ FY26 FY25 YoY • Revenue from operations witnessed strong growth across Q4 & FY26 on both YoY and QoQ basis, driven by healthy momentum in Income core business operations Revenue from operations 16.5 -3.3 6.5 154.4%
Slide 12: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Particulars (in Rs. Cr) Mar-26 Mar-25 Particulars (in Rs. Cr) Mar-26 Mar-25 ASSETS EQUITY Non-current assets Equity share capital 10.7 10.7 Property, Plant and Equipment 2.4 0.8 Other equity 139.8 117.9 Other Intangible Assets 0.1 0.1 Non Controlling Interest 19.
Slide 13: Continuous Dividend Payout Over The Years
Continuous Dividend Payout Over The Years… Dividend Payout 11.3% 23.1% 17.5% 49.9% 35.8% 40.1 The Company has finalised a 36.3 dividend policy wherein the Company will declare 32.1 dividend a minimum of 30% of the consolidated profit after tax in a given year to the shareholders 17.7 16.0 13.0 13.0
Slide 14: About Us
About Us
Slide 15: About Us
About Us Wealth Business AMC • Headquartered in Ahmedabad, Gujarat with having presence in 33rd* 87 09 RM Vintage: Surat, Pune and Mumbai 55% > 5 years • Over three decades of trusted wealth management expertise Rank in India – MF Distribution Team Size • Independent, client-first wealth manager foc
Slide 16: Operational Excellence: Six Years of Strategic Growth
Operational Excellence: Six Years of Strategic Growth Total Clients Person Years of Experience Trail-Based AUM: Exceptional Growth Trajectory 16,773 21,746 480 1,014 FY20 FY26 FY20 FY26 ₹5,558 Cr Families Served New Client Added in a Year FY26 ₹1,612 Cr FY20 4,851 6,889 372 987 FY20 FY26 FY20 FY26 S
Slide 17: Our Offerings
Our Offerings PRODUCTS SERVICES Investment Strategising Trade-Execution- Portfolio Review Fixed Deposits Treasury Bonds Direct Bonds Asset Research Broking and Accounting Taxable & Tax- Direct Equity Mutual Funds Retirement Planning Tax Planning Asset Allocation Free Bonds International Pension Prod
Slide 18: Our Journey
Our Journey ✓ The final SEBI inspection has been concluded, and approval is in its final stages ✓ Obtained an IRDAI license as a Direct Insurance Broker and strategically expanded our operations in this segment ✓ 2016: First IFA practice listed on ✓ Listed on BSE NSE ✓ 2017: Crossed Became a one-sto
Slide 19: Board of Directors
Board of Directors Mr. Ashish Navnitlal Shah Ms. Hena Ashish Shah Managing Director (Promoter) Whole-Time Director (Promoter) Ms. Binal Gandhi Mr. Amit Trivedi Non-Executive Director Independent Director Mr. Saurabh Sonthalia Mr. Siddharth Shah Independent Director Independent Director 18
Slide 20: Key Management Personal
Key Management Personal Mr. Rakesh Shah Mr. Dhiren Parikh Mr. Manish Kansara Chief Investment Officer Chief Financial Officer Chief Operations Officer Mr. Nirad Shah Mr. Nishil Pandya Ms. Sajni Patel Senior Vice President - Sales Head - Business Head - Business Development & Strategy Development & S
Slide 21: Company Strategy
Company Strategy
Slide 22: The Wealth First Way: Sustainable Growth Built on Relationships
The Wealth First Way: Sustainable Growth Built on Relationships Built on Trust. Driven by Knowledge. Sustained by Relationships. Knowledge & Foundation Relationships Philosophy • ~70% of client base from • Knowledge-first engagement • Referral-led growth model built Gujarat - our cornerstone through
Slide 23: Our Unique Selling Proposition
Our Unique Selling Proposition Transparent Engagement Clear risks, outcomes & returns 01 Simplicity & Integrity Long-term focus over sales tactics Client Empowerment 02 Education-driven, confident decisions 07 Personalised Strategies Capital Protection Tailored, tax-efficient solutions Risk-managed,
Slide 24: What Makes Us Resilient
What Makes Us Resilient Deep Product Expertise Extensive research across asset classes enables seamless Process Strength and Sustainability transition to superior, risk-aligned opportunities Robust systems and frameworks built to deliver stability, consistency, and resilience across market cycles St
Slide 25: Evolution To Serve Better
Evolution To Serve Better From a pure play Wealth Management player to a comprehensive financial solutions provider All Under One Roof Now A Comprehensive Financial Solutions Partner Then Pure Play Wealth Asset Management Insurance Broker Wealth Management Management (AMC) (Life & General) Focused o
Slide 26: Towards a Larger Vision
Towards a Larger Vision Final License Received from SEBI for AMC Setup Viksit Bharat 2047 Mutual Fund Industry Growth Estimates# To participate in India’s journey of mobilization of savings towards investing, we are setting up an AMC under the name of Parameters 2026^ 2047 ‘Lakshya Asset Management
Slide 27: Insurance Broking License received from IRDAI
Insurance Broking License received from IRDAI Insurance has always been a key part of our wealth management philosophy. To participate into growing sector, we expanded into the Insurance Broking business, enabling our entry into the General Insurance segment and strengthening our product offerings.
Slide 28: Industry Overview
Industry Overview
Slide 29: Indian Wealth Management is a $2.7 Tn Opportunity
Indian Wealth Management is a $2.7 Tn Opportunity • India’s wealth inequality is stark, with the ultra-rich holding a significant share of the country’s assets and this concentration is expected to grow • The top 1% of Indian households account for 30–40% of income, a high share of savings, and near
Slide 30: Large Untapped Investor Base Supporting Industry Growth Visibility
Large Untapped Investor Base Supporting Industry Growth Visibility Penetration Seen As Unique MF Investors Remains Very Low Large Young Population Provides Visibility For Growth Sustainability ~1.4 Bn No. of yrs Population of India 0-19 23.0% 25.0% 35.0% 660-680 Mn Aadhar-linked PAN Cardholders 20-3
Slide 31: Expanding Mutual Fund Penetration; Market Depth Is Expanding
Expanding Mutual Fund Penetration; Market Depth Is Expanding Total MF folios rising rapidly; almost doubled since Individual MF folios are rising and average AUM per folio FY22 – until Dec’25(in Mn) has remained rangebound 180 192 176 195 146 165 164 261 235 260 233 178 177 146 129 145 130 97 89 90
Slide 32: Rising Growth in India's Specialized Wealth Management
Rising Growth in India’s Specialized Wealth Management Specialized wealth managers form ~11% of the total $2.7 Tn in serviceable assets; Large headroom for growth • Dedicated wealth managers in India are India HH Net Worth/ Assets ($19.6 Tn) projected to grow their assets under "Uber Rich" AUM manag
Slide 33: Active Equities AUM poised for +20% CAGR in the medium-term
Active Equities AUM poised for +20% CAGR in the medium -term • Equities AUM has posted a 27% CAGR over the past decade, driven by approximately 12% CAGR in MTM gains, with the remainder contributed by net inflows • It is expected to continue growing at over 20% CAGR in the medium term, supported by
Slide 34: Historical Performance
Historical Performance
Slide 35: Operational Performance
Operational Performance Relationship Managers RM Vintage (%)* (In Rs. Cr) 0 to 3 years 22 30 29 35 41 3 to 5 years 4 18% 5 to 10 years 13 12 13 14 35% 43% 42% 37% >10 years 5 23% 1 4 5 13% 1 3% 3% 11% 5 7 8 8 10 23% 24% 27% 23% 25% 8 9 10 12 8 36% 31% 29% 30% 27% Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 M
Slide 36: AUA Growth Over The Years
AUA Growth Over The Years… Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 2,531 3,410 3,741 4,014 3,253 3,018 3,449 4,420 5,304 5,392 410 23 204 89 45 183 212 234 91 48 60 78 1,985 2,224 2,272 1,281 1,468 69 82 166 Total AUA Rs. 7,782 Cr. Rs. 8,078 Cr. Rs. 10,114 Cr. Rs. 11,623 Cr. Rs. 12,157 Cr. Total ARR Rs.
Slide 37: Historical Consolidated Profit & Loss Statement
Historical Consolidated Profit & Loss Statement Particulars (in Rs. Cr) FY26 FY25 FY24 FY23 FY22 Income Revenue from operations 68.4 53.2 54.3 29.5 31.5 Other Income 2.7 6.9 12.6 -0.1 1.9 Total Revenue (I+II) 71.1 60.1 67.0 29.4 33.3 Employee benefit expense 11.8 9.0 8.1 6.7 5.3 Other expenses 7.2 4
Slide 38: Historical Consolidated Balance Sheet Statement
Historical Consolidated Balance Sheet Statement Particulars (in Rs. Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Particulars (in Rs. Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 ASSETS EQUITY Non-current assets Equity share capital 10.7 10.7 10.7 10.7 10.7 Property, Plant and Equipment 2.4 0.8 0.7 0.7 0.8 Other
Slide 39: Thank You
THANK YOU ! Company: Wealth First Portfolio Managers Limited CIN: L67120GJ2002PLC040636 Mr. Nishil Pandya / Ms. Sajni Patel nishil@wealthfirst.biz / sajni@wealthfirst.biz www.wealth-firstonline.com Investor Relations: Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285 Mr. Karan Thakker /
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