Wealth First Portfolio Managers Ltd. · NSE:WEALTH
Wealth First Portfolio Managers — Q3 FY25 Earnings Presentation
37 slides from Wealth First Portfolio Managers's earnings presentation, Jan 27, 2025
Slide 1: Cover letter to National Stock Exchange
DATE: 27TH JANUARY, 2025 To Manager - Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai-400051 REF: WEALTH FIRST PORTFOLIO MANAGERS LIMITED SCRIP CODE: WEALTH SUB: INVESTOR PRESENTATION ON FINANCIAL RESULT FOR THE
Slide 2: Beneath the Tip of the Iceberg - Investor Presentation Q3 & 9M FY25
BENEATH THE TIP OF THE ICEBERG Investor Presentation Q3 & 9M FY25
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: Q3 & 9M FY25 Performance Overview
Q3 & 9M FY25 PERFORMANCE OVERVIEW ABOUT US COMPANY STRATEGY INDUSTRY OVERVIEW HISTORICAL PERFORMANCE
Slide 5: Our Performance for Q3 & 9M FY25
Our Performance for Q3 & 9M FY25 Consolidated Performance for 9M FY25 Rs. 62.4 Cr. (+34% YoY) Total Revenue Commenting on the results and performance for Q3 & 9M FY25, Mr. Ashish Shah, Managing Director of Wealth First Portfolio Managers Limited said: Rs. 36.0 Cr. (+68% YoY) We are pleased to report
Slide 6: Strong Financial Performance for 9M FY25
Strong Financial Performance for 9M FY25 (In Rs. Cr) Revenue Trail Base Revenue PAT & PAT Margin (%) # 62.0% 61.6% +34.3% +67.7% +33.4% 62.4 36.0 38.4 46.4 28.8 21.5 9M FY24 9M FY25 9M FY24 9M FY25 9M FY24 9M FY25 AUA Cost to Income (%) # * +26% 11,892 -530 bps 31.5% 9,449 26.2% MF+PMS 5,672 Cost to
Slide 7: Operational Performance
Operational Performance Relationship Managers Total Clients 30 33 5,850 6,395 • Strong RM Vintage: 19,198 20,506 • RM count increased by 10% YoY 13 13 2,220 2,814 • The RM vintage stood strong with 52% 744 908 of RMs being associated with the 1 3 3,472 3,464 Company for >5 years whereas 28% of 7 8 R
Slide 8: Equity Net Inflows: Industry vs WFPML
Equity Net Inflows Mar-21 Mar-22 Mar-23 Mar-24 Dec-24* (In Rs. Cr) 1,46,754 3,22,980 -25,966 1,64,405 1,84,091 Net Inflows - Net Inflows - Net Inflows - Net Inflows - Net Inflows - Industry SIP SIP SIP SIP SIP Purchases Purchases Purchases Purchases Purchases -1,22,046 39,839 -9,218 -15,127 1,11,953
Slide 9: Consolidated Profit And Loss Statement
Consolidated Profit And Loss Statement Particulars (in Rs. Crs.) Q3FY25 Q3FY24 YoY Q2FY25 QoQ 9MFY25 9MFY24 YoY During Q3 FY25, the decline in revenue from Income trading activities is due to Mark-to-Market (M2M) drawdown in the equity portion of the Revenue from operations - Trading Activities 0.8
Slide 10: Continuous Dividend Payout Over The Years
Continuous Dividend Payout Over The Years… Dividend 6.6% 11.3% 23.1% 17.5% 33.3% Payout 40.06 The Company has finalised a 36.08 dividend policy wherein the Company will declare dividend of minimum 30% of the consolidated profit after tax in a given year to the shareholders 17.69 15.10 12.98 12.00 7.
Slide 11: About Us
Q3 & 9M FY25 PERFORMANCE OVERVIEW ABOUT US COMPANY STRATEGY INDUSTRY OVERVIEW HISTORICAL PERFORMANCE
Slide 12: About Us
About Us • Headquartered in Ahmedabad, Gujarat, Wealth First Portfolio Managers is a client-centric, product agnostic and independent wealth management firm focused only on wealth management, singularly prioritizing the financial wellbeing of customers • The Company brings smart investment solutions
Slide 13: Our Products & Services
Our Products & Services Fixed Deposits Investment Strategising Asset Research Treasury Bonds Trade-Execution-Broking Direct Bonds Portfolio Review and Accounting Taxable & Tax-Free SERVICES Bonds PRODUCTS PRODUCTS SERVICES Retirement Planning PRODUCTS SERVICES Direct Equity Treasury Management Mutua
Slide 14: History & Timeline
History & Timeline 1990-1995 1996-2000 2001-2010 2011-2015 2015 & Beyond 1990 - The Beginning 1996 - THE BEGINNING 2002-03 - Expansion 2011 - Welcoming Changes 2015-2016 - New Horizons ▪ Started out as Dalal & Shah ▪ As the mutual funds industry ▪ Expanded client base ▪ Focusing on continuous tech ▪
Slide 15: Board of Directors
Board of Directors Mr. Ashish Navnitlal Shah Ms. Hena Ashish Shah Managing Director (Promoter) Whole-Time Director (Promoter) • 30+ years of expertise in the financial • 15+ years of experience in the financial services, skilled at boosting revenue market with expertise in Mutual through client rela
Slide 16: Key Management Personnel
Key Management Personnel Mr. Rakesh Shah Mr. Manish Kansara Chief Investment Officer Chief Financial Officer • 30+ years of experience in financial • 30+ years of experience at WealthFirst markets, mutual funds, and more • Deep expertise in equity, debt, mutual • Expertise in MF/DEBT income, macro f
Slide 17: Awards & Accolades
Awards & Accolades CNBC TV 18 All CNBC TV 18 India Best Best Financial Financial Advisor Advisor West Zone in the year 2006 Year 2008 Best Performing Regional Financial Advisor West Zone in the year 2019 16
Slide 18: Company Strategy
Q3 & 9M FY25 PERFORMANCE OVERVIEW ABOUT US COMPANY STRATEGY INDUSTRY OVERVIEW HISTORICAL FINANCIAL PERFORMANCE
Slide 19: Active Product Selection Strategy While Remaining Watchful
Active Product Selection Strategy While Remaining Watchful At Wealth First, our clear strategy outlines what we do. At Wealth First, we are always awake and alive to realities More importantly it highlights what we do not do. transpiring in the finance world. We do not do anything Earth shattering.
Slide 20: Our Customer Centric Practices
Our Customer Centric Practices 1 Our 5 CUSTOMER CENTRIC practices 2 4 3 One shoe does not fill all Stay in touch We understand that every client’s requirement is We interact with our clients different. We spend time with at frequent intervals. the client to understand their Updating them about the f
Slide 21: Our Competitive Moat
Our Competitive Moat EXAMINE, INVESTIGATE AND REVIEW Research all financial products that are introduced in the market. Our width and depth of product knowledge allows us to handhold clients to switch to better investment options CLIENT CENTRIC Our enduring client relationships have matured alongsid
Slide 22: Industry Overview
Q3 & 9M FY25 PERFORMANCE OVERVIEW ABOUT US COMPANY STRATEGY INDUSTRY OVERVIEW HISTORICAL PERFORMANCE
Slide 23: Addressable AUM of HNI/UHNI
Addressable AUM of HNI/UHNI • ~200K households which are clubbed in UHNI / HNI segment are expected to grow to ~300K households by FY27E • HNI and HNI wealth in financial assets is expected to grow at a faster pace vs. overall financial household wealth for the country in the next few years (as per
Slide 24: Financial Assets Of Indian Households
Financial Assets Of Indian Households Growth in Equities as % of Indian Total Indian Household Assets Household Assets 14.0% 4.7% 5.9% 5.8% 3.8% 15.5% 3.4% 4.7% 2.2% 50.7% Property Gold Bank Deposits Insurance Fund Mar-13 Mar-18 Mar-23 Provident & Pension Fund Cash Equities Estimated annual structur
Slide 25: Huge Opportunity to Wealth Management Business
Huge Opportunity to Wealth Management Business No. of Ind income tax filed - Income tax filers with gross income >10mn AY13-23 CAGR 0.25% 17.7% 0.17% 188 0.13% 9.8% 81 37 AY13 AY18 AY23 All Tax filers Income >10mn Ind income tax filers income > 10mn (’000) % of tax filers with gross income >10mn Inc
Slide 26: AUM to GDP penetration is rising
AUM to GDP penetration is rising… MF AUM as a % of GDP Equity segment in AUM is expanding 20 18 FY15 31% 45% 23% 1% 18 FY16 31% 43% 24% 1% 16 16 FY17 32% 44% 22% 2% 16 15 FY18 42% 35% 20% 3% 14 13 13 13 FY19 42% 29% 24% 5% 12 FY20 42% 29% 22% 7% 12 10 10 FY21 40% 34% 14% 12% 10 FY22 46% 27% 13% 14%
Slide 27: Mutual Funds Growth In India
Mutual Funds Growth In India Growth/Equity Oriented Schemes’ (In Rs. Tn) Mutual Fund AUM Growth over the years… Growth over the years… 66.9 30.6 +25.9% 53.4 23.5 +40.6% 37.6 39.4 31.4 13.7 15.2 21.3 10.0 6.0 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 Industry
Slide 28: Notable growth of Capital Markets over the years
Notable growth of Capital Markets over the years… Demat account base has jumped ~9x over the past NSE active client base has surged 10x over FY14 -24 decade and ~4x during the past five years and 2.5x over the past five years 179 49 151 41 41 10 22 4 FY14 FY20 FY24 Oct’24 FY14 FY20 FY24 Oct’24 MF un
Slide 29: With large headroom for Growth
…with large headroom for Growth MF penetration in India vs. other countries Penetration of demat accounts (%) in 2023 (%) 62 123 61 60 65 12 15 17 India (Sep’24) China (Mar’23) USA (2023) USA Germany UK World India India’s market cap-to-GDP ratio catching up aggressively with global peers (%) – base
Slide 30: Escalation in Affluent Individuals' Income Levels
Escalation in Affluent Individuals' Income Levels Number of higher income individuals has risen fast in the The wealth possessed by wealthy individuals has grown last few years markedly Gross Gross 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Income Income Individuals Individuals > 100mn 16,906
Slide 31: Number of UHNIs on the rise
Number of UHNIs on the rise UHNI Population (USD 30mn+) HNI Population (USD 1mn+) +8% 19,908 16,57,272 +16% 12,495 13,263 7,63,674 7,97,714 2022 2023 2028 2021 2022 2027 Number of UHNIs to grow at 8% CAGR over CY23-28E No. of HNIs to grow at a ~16% CAGR over 2022-27 About 60% of investible corpus of
Slide 32: Historical Performance
Q3 & 9M FY25 PERFORMANCE OVERVIEW ABOUT US COMPANY STRATEGY INDUSTRY OVERVIEW HISTORICAL PERFORMANCE
Slide 33: Operational Performance
Operational Performance Relationship Managers RM Vintage (%)* 28 22 30 29 33 4 18% 10 13 12 13 36% 42% 39% 43% 5 23% 4 1 1 3 14% 3% 3% 9% 0 to 3 years 5 to 10 years 5 7 23% 4 8 8 14% 24% 3 to 5 years >10 years 27% 24% 10 8 9 9 36% 36% 8 27% 31% 28% Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 Mar-21 Mar-22 Ma
Slide 34: AUA Growth Over The Years
AUA Growth Over The Years… Mar-21 Mar-22 Mar-23 Mar-24 Dec-24 1,862 3,612 2,620 3,410 3,253 3,109 3,449 4,488 3,119 5,672 18 440 410 23 204 45 183 2,384 168 988 1,985 48 1,281 1,468 55 Total AUA Rs. 6,427 Cr. Rs. 7,782 Cr. Rs. 8,078 Cr. Rs. 10,115 Cr. Rs. 11,892 Cr. Mutual Fund+ Portfolio Management
Slide 35: Historical Consolidated Profit & Loss Statement
Historical Consolidated Profit & Loss Statement (In Rs. Cr) Particulars FY24 FY23 FY22 FY21 Income Revenue from operations - Trading Activities 12.7 -2.5 6.3 5.3 Revenue from operations - Other 41.6 32.0 25.2 18.4 Other Income 12.6 -0.1 1.9 1.0 Total Revenue (I+II) 67.0 29.4 33.3 24.8 Employee benef
Slide 36: Historical Consolidated Balance Sheet Statement
Historical Consolidated Balance Sheet Statement (In Rs. Cr) Particulars Mar-24 Mar-23 Mar-22 Mar-21 Particulars Mar-24 Mar-23 Mar-22 Mar-21 ASSETS EQUITY Non-current assets Equity share capital 10.7 10.7 10.7 10.7 Property, Plant and Equipment 0.7 0.7 0.8 0.5 Other equity 107.6 66.0 54.9 35.6 Other
Slide 37: Thank You
THANK YOU For further information, please contact Wealth First Portfolio Managers Limited: Investor Relations Advisors : CIN: L67120GJ2002PLC040636 CIN: U74140MH2010PTC204285 Mr. Karan Thakker Mr. Nishil Pandya Ms. Dhresha Shah Email id : nishil@wealthfirst.biz karan.thakker@sgapl.net / nishil@wealt
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