Emkay Global Financial Services Limited · NSE:EMKAY
Emkay Global Financial Services — Investor Presentation (June 2025)
43 slides from Emkay Global Financial Services's investor presentation, Jun 26, 2025
Slide 1: Intimation of Investor Presentation to exchanges
Date-26th June 2025 To, To, Listing Department Listing Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex P. J. Tower, Dalal Street, Bandra (East), Mumbai-400 051 Mumbai 400 001 SCRIP CODE: EMKAY SCRIP CODE: 532737 Sub.: Disclosure under Regulation 3
Slide 2: Investor Presentation June 2025
INVESTOR PRESENTATION JUNE 2025
Slide 3: Snapshot
SNAPSHOT 30 Years 3 Category 1 Merchant 19 of Legacy in financial Branches across Business Verticals Banker services India 200+ 500+ 40,000 INR 19,204 Crs Companies under Employees Pan India Client Base Total Assets research coverage INR 303+ Crs 19% 7%+ 21% Net Worth 3Y PAT CAGR 3Y Revenue CAGR ROE
Slide 4: Company Overview
COMPANY OVERVIEW 3
Slide 5: Company Overview
COMPANY OVERVIEW • Established in 1995 by Chartered Accountants Krishna Kumar Karwa and Prakash Kacholia, Operational Revenue (INR Mn) & PAT Margins (%) Emkay Global Financial Services Limited is a prominent Mumbai-based financial services company that has successfully completed 30 years of trusted
Slide 6: The Journey
THE JOURNEY • Successful Launch Of Emkay Emerging Stars Fund Emkay Investment - Series I, II & III Managers inaugurated their • Incorporated EGFS dynamic new office IFSC for international Incorporated Emkay space and Launched the financial services as Global Financial successfully Commenced Converte
Slide 7: Board of Directors
BOARD OF DIRECTORS Krishna Kumar Karwa Prakash Kacholia Founder and Managing Director Founder and Managing Director Krishna, a rank holder from ICAI with 30+ years of experience, is the Promoter Prakash, a Chartered Accountant from the 1987 ICAI batch with 30+ years in & MD at Emkay, overseeing Rese
Slide 8: Business Offerings
BUSINESS OFFERINGS Broking, Advisory, and Wealth Management Investment/Asset Investment Banking Research Management Provides an extensive array Estate planning and Equity portfolio management Emkay's investment banking of financial services, featuring customized solutions with and advisory services
Slide 9: Emkay's Strengths
EMKAY’S STRENGTHS A 360 degree approach: 1 Relationship Focus: 2 Strong Promoters & Board: 3 Significant Research capabilities: 4 From being an institutional The one thing that hasn’t Pioneered by first-generation The institutional research broking house to one offering changed since our humble entr
Slide 10: Key Differentiators
KEY DIFFERENTIATORS Corporate Governance: Sustainability: We ensure full transparency and In the wealth creation journey, we are with our clients for accountability while conducting our business the long haul. Our approach, philosophy and frameworks in a highly professional and ethical manner. are a
Slide 11: Infrastructure & Security
INFRASTRUCTURE & SECURITY Robust Infrastructure Strong Network • Scaled up & fine-tuned hardware for • Ensuring high availability of systems with reliability with continuous improvisations in increased network bandwidth to performance accommodate the escalating data traffic • Hyper-converge platform
Slide 12: Technology for Business
TECHNOLOGY FOR BUSINESS State-of-the-art Electronic Execution Solutions Technology Experience across trading technology across the landscape Sales, Research & Operations • Connectivity for disseminating real- • Multiple trading solutions deployed to • Client Relations are managed via time informatio
Slide 13: Recent Awards and Accolades
RECENT AWARDS AND ACCOLADES MCX AWARDS 2025 MCX AWARDS 2024 Leading Institutional Leading Member Participating Member Participating in Energy Best Technology Team Emkay Investment Managers Ltd. (Wealth Management) at the awarded as ‘Most Innovative 2nd Annual NBFC and Fin Tech Company of the Year (B
Slide 14: Business Overview
BUSINESS OVERVIEW 13
Slide 15: Business Segments
BUSINESS SEGMENTS Capital Market (58%) 1,009 Bn 3,11,434 Bn Equity Market Derivative Market Wealth Management (28%) Turnover Turnover 19 200+ 60+ Asset Management (6%) Stock Research 1,79,781 Mn No. of Sectors Covered AUM Coverage Relationship Managers 321 12,259 Mn 6 1,300 + Group Calls/ Events/ 19
Slide 16: Capital Market
>OO CAPITAL MARKET
Slide 17: Institutional Equities Industry Overview
INSTITUTIONAL EQUITIES INDUSTRY OVERVIEW Robust growth in Markets Turnovers across segments Rising Institutional Share Equity Cash Segment T/O Equity Derivative Segment T/O Cash T/O split among participants (INR Lakh Cr) (INR Lakh Cr) 3Y CAGR: 18.8% 3Y CAGR: 81.8% 301 1,05,916 59.0% 49.8% 52.3% 49.5
Slide 18: Merchant Banking Industry Overview
MERCHANT BANKING INDUSTRY OVERVIEW Increasing number of Capital Market Issuances IPO Pipeline (as on 31st March 2025) IPO & QIP Issuance 163 140 82 85 48 64 29 No. of 11 76 78 118 53 37 Companies 4 ECM Mandates FY22 FY23 FY24 FY25 IPO QIP 4 Estimated Issue > INR 1,34,000* Cr > 4470 Cr (for 4 FY25 ha
Slide 19: Capital Market Segment
CAPITAL MARKET SEGMENT Revenue Split FY25 • Emkay provides both institutional and non-institutional broking services, ensuring strong operations amidst constantly changing industry dynamics. 17% 12 ECM transactions worth INR ~1,61,624 Mn • Emkay offers innovative research and deep industry expertise
Slide 20: Strong Bottom-Up Research
STRONG BOTTOM-UP RESEARCH • Emkay continues to strengthen its research franchise by continuously expanding the company coverage. • With an innovative research team and deep industry expertise, It maintains strong operations amid continuous industry changes. • Efforts to enhance sales franchise in As
Slide 21: Events Conducted
EVENTS CONDUCTED Conferences in FY2025 Emerging Midcap Conference 2024 FinShift Conference 2024 August Conference 2024 Channel Check Conference Events in FY2025 46 37 Group Calls/ 238 Corporate & 11 Industry 56 Events Expert Client Calls Reports Released Coverages Roadshows Initiated /Conferences 20
Slide 22: Strengths of Broking
STRENGTHS OF BROKING Diverse Institutional Clientele: Emkay Global serves mutual funds, hedge funds, banks, insurance companies, private equity firms, corporate houses, small and medium-sized enterprises, and high net worth individuals, family offices, HNIs, Ultra HNIs, FPIs, and FIIs, ensuring acti
Slide 23: Emkay Investment Banking
EMKAY INVESTMENT BANKING Investment Banking Offerings Public Market Private Market ECM & Corporate Advisory • Initial Public Offer (IPO), • Private Equity, M&A – Buy-side • Rights Issue, Open Offer, Buy- Qualified Institutional Placement and Sell-side advisory. back, Delisting (QIP), • An extensive
Slide 24: Strengths of Investment Banking
STRENGTHS OF INVESTMENT BANKING High touch, bespoke service delivery with hands on involvement of senior team members including CEO Ability to onboard high quality Long Only investors in even small deals Ability to take companies public without any listed peers Proven track record of Emkay Instituti
Slide 25: ECM Transactions Done by Emkay Global
ECM TRANSACTIONS DONE BY EMKAY GLOBAL March 2024 March 2024 March 2024 May 2024 `599 Cr IPO `251 Cr IPO `625 Cr IPO `427 Cr IPO IPO Book Running Book Running Book Running Book Running Lead Manager Lead Manager Lead Manager Lead Manager March 2025 March 2025 March 2025 September 2024 July 2024 Decemb
Slide 26: Capital Market Segment Performance
CAPITAL MARKET SEGMENT PERFORMANCE Broking Revenue (INR Mn) Broking Revenue Mix (FY25) ECM Transactions Revenue (INR Mn) 319 332 11% 1,633 1,131 980 839 154 82 89% Contribution from Institutional Clients (in %) FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Contribution from Non - Institutional Clients (in
Slide 27: Core Team
CORE TEAM Nirav Sheth Seshadri Sen CEO, Institutional Equities Head of Research & Strategist CEO of Emkay’s Institutional Equities, In a career of more than over thirty years of experience in equity research, primarily on the 25-years, Nirav has held several leadership positions across sell-side, wi
Slide 28: Asset Management
ASSET MANAGEMENT PMS & AIF Vertical (Emkay Investment Managers Ltd) 27
Slide 29: Industry Overview
INDUSTRY OVERVIEW • As India moves towards its aspiration of becoming a USD 35 trillion economy by 2047, the country is entering a new phase of rapid economic development. Thus, AUM (INR lakh crores) PMS and AIF structures are increasingly emerging. • The PMS and AIF industry has been expanding at a
Slide 30: Asset Management Segment
ASSET MANAGEMENT SEGMENT • Emkay Investment Managers Limited (EIML), is the asset management arm of Revenue (INR Mn) Emkay Global and offers a diverse range of investment opportunities like customized Portfolio Management Services (PMS) and Alternative Investment Fund (AIF). 197 141 149 • These are
Slide 31: Asset Management Products
ASSET MANAGEMENT PRODUCTS PMS PRODUCTS Based on five key themes: ENVI endeavors to achieve long term capital A multi-cap portfolio, that aims to identify companies Emkay SMID Cap Growth Engine Portfolio focuses appreciation by investing in companies that will • Consumption with the potential to buil
Slide 32: Core Team
CORE TEAM Manish Sonthalia Sachin Shah Director and Chief Investment Officer Executive Director and Fund Manager He has over 3 decades of exhaustive experience in equity fund Over two decades of experience in the Indian equity markets. By management and research covering Indian Markets. virtue of hi
Slide 33: Wealth Management
WEALTH MANAGEMENT 32
Slide 34: Wealth Management Industry Overview
WEALTH MANAGEMENT INDUSTRY OVERVIEW • India to become the 4th largest private Financial Wealth threshold, (USD) 2022 2027 wealth market globally by 2028 Expected Total HH fin Total HH fin CAGR Households • 200K households which are clubbed assets (USD FY22 (#,’000s) assets (USD FY27 (22-27)% Bn) Bn)
Slide 35: Wealth Management Segment
WEALTH MANAGEMENT SEGMENT • Emkay Wealth operates 19 branches across India and manages the wealth of over 35,000 clients, supported by more than 60 relationship managers. It has an Assets Revenue (INR Mn) Under Management (AUM) of approximately INR 1,79,781 Mn. Recently, the 949 company expanded int
Slide 36: Advantage Emkay Wealth
ADVANTAGE EMKAY WEALTH Emkay offers secure, customized Leveraging cutting-edge technology financial solutions to help clients achieve infrastructure, comprehensive knowledge sustained growth. It focuses on serving management systems, and ongoing Large and under Scaled and innovation, Emkay stays ahe
Slide 37: Core Team
CORE TEAM Dr. Joseph Thomas Parag Morey Head of Research Head of Sales A Masters in Economics and a Ph.D. in Management, Dr. Parag is a finance postgraduate from Pune University with nearly Thomas brings to the table a rich experience spanning three three decades of experience in the financial servi
Slide 38: Financial Overview
FINANCIAL OVERVIEW 37
Slide 39: Historical Consolidated Income Statement
HISTORICAL CONSOLIDATED INCOME STATEMENT Particulars (INR Mn) FY22 FY23 FY24 FY25 REVENUE Income from Operations 2,712 2,030 2,864 3,362 Other Income 26 125 307 250 Total Revenue 2,738 2,155 3,171 3,612 EXPENSES Employee Benefits Expenses 1,091 1,151 1,508 1,709 Finance Costs 32 43 49 70 Depr. & Amo
Slide 40: Historical Consolidated Balance Sheet
HISTORICAL CONSOLIDATED BALANCE SHEET Particulars (INR Mn) FY23 FY24 FY25 Financial Assets (a) Cash and Cash Equivalents 295 478 465 (b) Other Bank Balances 3,191 5,350 4,928 (c) Securities held for trading 7 13 4 (d) Trade Receivables 1,053 1,252 941 (e) Loans 514 396 180 (f) Investments 237 262 31
Slide 41: Financial Highlights
FINANCIAL HIGHLIGHTS Operational Revenue (INR Mn) PAT (INR Mn) & PAT Margins (%) 3,362 2,712 2,864 2,030 568 338 325 141 16.89% 12.46% 11.35% 6.95% FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Debt to Equity (X) Net Worth (INR Mn) ROE (%) & ROCE (%) 3,032 2,409 27.00% 2,006 2,104 20.89% 0.14 0.15 18.42%
Slide 42: Capital Market Data
CAPITAL MARKET DATA 250% EMKAY SENSEX 200% 150% 100% 50% 0% -50% Apr-2024 May-2024 Jun-2024 Jul-2024 Aug-2024 Sep-2024 Oct-2024 Nov-2024 Dec-2024 Jan-2025 Feb-2025 Mar-2025 Price Data (As on 31st March, 2025) Shareholding Pattern (As on 31st March, 2025) Face Value (INR) 10.0 DII 0% CMP (INR) 212.5
Slide 43: Disclaimer
DISCLAIMER Emkay Global Financial Services Ltd No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are i
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