Wealth First Portfolio Managers Ltd. · NSE:WEALTH
Wealth First Portfolio Managers — Q2 & H1 FY26 Earnings Presentation
36 slides from Wealth First Portfolio Managers's earnings presentation, Nov 13, 2025
Slide 1: Cover letter to stock exchanges
DATE: 13TH NOVEMBER, 2025 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 SY
Slide 2: Investor Presentation | Q2 & H1 FY26
Investor Presentation Investor Presentation | Q2 & H1 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: Q2 & H1 FY26 Financial Highlights
Q2 & H1 FY26 Financial Highlights
Slide 5: Management Commentary
Management Commentary Commenting on the results and performance for Q2 & H1 FY26, Mr. Ashish Shah, Managing Director of Wealth First Portfolio Managers Limited said: “Our core revenue stream, Business Activity Income, maintained its growth momentum with a 9.7% YoY rise in Q2 FY26 and 13.3% growth in
Slide 6: Sustained Growth Momentum Over the Years
Sustained Growth Momentum Over the Years… (In Rs. Cr) Revenue from Business Activity Income Trail Base Revenue 33.7 +29.7% 24.0 24.7 +33.6% 29.8 17.4 13.5 11.9 13.4 8.7 10.6 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY26 Trail-based AUM AUA +26.4% 5,896 6,011 +14.6%
Slide 7: Financial Highlights for Q2 FY26
Financial Highlights for Q2 FY26 (In Rs. Cr) Revenue from Business PBT from Business Activity • The Business Activity Income Trail Base Revenue Activity Income Income & Margin (%)^ increased by 9.7% on YoY basis to Rs. 17.9 Cr. in Q2 FY26 75.8% 69.8% +9.7% - +1.1% • The broader market declined in Q2
Slide 8: Financial Highlights for H1 FY26
Financial Highlights for H1 FY26 (In Rs. Cr) Revenue from Business Trail Base Revenue AUA • The Business Activity Income increased Activity Income by 13.3% on YoY basis to Rs. 33.7 Cr. in +13.3% +5.0% H1 FY26 +2.9% 33.7 12,574 • The broader market was flat in H1 24.0 24.7 11,973 29.8 FY26 compared t
Slide 9: Operational Performance
Operational Performance Relationship Managers Total Clients 32 40 6,215 6,717 Strong RM Vintage: 20,227 21,237 14 2,780 2,939 • RM count increased by 25% YoY 13 801 1,158 • The RM vintage stood strong with 53% 5 3,437 3,352 of RMs being associated with the 2 Company for >5 years whereas 30% of 8 9 R
Slide 10: Industry Equity Net Inflows
Equity Net Inflows Mar-22 Mar-23 Mar-24 Mar-25 Sept-25* (In Rs. Cr) 1,64,405 1,46,754 1,73,424 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 6,745 39,839 1
Slide 11: Consolidated Profit and Loss
Consolidated Profit and Loss Particulars (in Rs. Cr) Q2 FY26 Q2 FY25 YoY Q1 FY26 QoQ H1 FY26 H1 FY25 YoY The Business Activity Income recorded a Income 9.7% YoY growth, primarily supported by Revenue from operations - Business Activity Income 17.9 16.3 15.8 33.7 29.8 higher net sales and an uptick i
Slide 12: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Particulars (in Rs. Cr) Sept-25 Mar-25 Particulars (in Rs. Cr) Sept-25 Mar-25 ASSETS EQUITY Non-current assets Equity share capital 10.7 10.7 Property, Plant and Equipment 1.0 0.8 Other equity 140.0 117.9 Other Intangible Assets 0.1 0.1 Total Equity 150.7 128.5 I
Slide 13: Continuous Dividend Payout Over The Years
Continuous Dividend Payout Over The Years… Dividend Payout 11.3% 23.1% 17.5% 49.9% 31.5% 40.1 The Company has finalised a 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 25.4 17.7 16.0 13.0 8.0 7
Slide 14: About Us
About Us
Slide 15: About Us
About Us • Headquartered in Ahmedabad, Gujarat 33rd 80 • Over three decades of trusted RM Vintage: wealth management expertise 48% > 5 years Rank in India – MF Distribution Team Size 20,759 • Independent, client-first wealth manager focused on financial wellbeing • Offers smart, end-to-end Clients V
Slide 16: Operational Excellence: Five Years of Strategic Growth
Operational Excellence: Five Years of Strategic Growth Total Clients Person Years of Experience Trail-Based AUM: Exceptional Growth Trajectory 16,773 20,759 480 911 FY20 FY25 FY20 FY25 ₹5,386 Cr Families Served New Client Added in a Year FY25 ₹1,612 Cr FY20 4,851 6,578 372 1,210 FY20 FY25 FY20 FY25
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 MF AUM crossed ₹5,000 Cr First IFA practice Became a one-stop listed on NSE financial platform (CDSL + CNBC TV18 Financial NSE-BSE integration) Started out as Dalal & Advisor Award Shah Financial Services (West Zone & India) Pvt. Ltd. with prime focus on fixed income ✓ SEBI In-Principle
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 Independent 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 Mr. Nirad Shah Chief Investment Officer Chief Financial Officer Chief Operations Officer Senior Vice President - Sales Mr. Nishil Pandya Ms. Sajni Patel Mr. Swapneel Shah Head - Business Head - Business Chief Operations Man
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: Towards a Larger Vision
Towards a Larger Vision Received an in-principle approval to set up an AMC 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 2024 2047 ‘Lakshya Asset Managemen
Slide 26: Insurance Broking License received from IRDAI
Insurance Broking License received from IRDAI To participate into growing insurance sector, we applied for an insurance broker license and have received IRDAI approval to operate as a Direct Insurance Broker (Life & General) under the name ‘Wealthshield Insurance Brokers Private Limited’ Industry Ou
Slide 27: Industry Overview
Industry Overview
Slide 28: 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 29: 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 30: 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 b
Slide 31: Historical Performance
Historical Performance
Slide 32: Operational Performance
Operational Performance Relationship Managers RM Vintage (%)* (In Rs. Cr) 0 to 3 years 22 30 29 35 40 3 to 5 years 4 18% 5 to 10 years 13 12 13 14 37% 35% 43% 42% >10 years 5 23% 1 1 4 5 11% 13% 3% 3% 5 7 23% 8 8 9 27% 24% 23% 23% 8 9 10 12 8 36% 31% 29% 30% 27% Mar-22 Mar-23 Mar-24 Mar-25 Sep-25 Ma
Slide 33: AUA Growth Over The Years
AUA Growth Over The Years… Mar-22 Mar-23 Mar-24 Mar-25 Sept-25 2,531 3,741 3,770 3,410 3,253 3,018 3,449 4,420 5,304 5,868 410 23 204 89 45 183 212 217 91 48 60 2,506 70 1,985 2,224 1,281 1,468 69 82 143 Total AUA Rs. 7,782 Cr. Rs. 8,078 Cr. Rs. 10,114 Cr. Rs. 11,623 Cr. Rs. 12,574 Cr. Mutual Fund P
Slide 34: Historical Consolidated Profit & Loss Statement
Historical Consolidated Profit & Loss Statement Particulars (in Rs. Cr) FY25 FY24 FY23 FY22 Income Revenue from operations - Business Activities 58.3 41.6 32.0 25.2 Revenue from operations - Trading Activities -5.2 12.7 -2.5 6.3 Other Income 6.9 12.6 -0.1 1.9 Total Revenue (I+II) 60.1 67.0 29.4 33.3
Slide 35: Historical Consolidated Balance Sheet Statement
Historical Consolidated Balance Sheet Statement Particulars (in Rs. Cr) Mar-25 Mar-24 Mar-23 Mar-22 Particulars (in Rs. Cr) Mar-25 Mar-24 Mar-23 Mar-22 ASSETS EQUITY Non-current assets Equity share capital 10.7 10.7 10.7 10.7 Property, Plant and Equipment 0.8 0.7 0.7 0.8 Other equity 117.9 107.6 66.
Slide 36: Thank You
THANK YOU ! Company: Wealth First Portfolio Managers Limited CIN: L67120GJ2002PLC040636 Mr. Nishil Pandya Email id : nishil@wealthfirst.biz www.wealth-firstonline.com Investor Relations: Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285 Mr. Karan Thakker / Ms. Dhresha Shah karan.thakker
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