Edelweiss Financial Services Limited · NSE:EDELWEISS
Edelweiss Financial Services — FY2026 Earnings Presentation
56 slides from Edelweiss Financial Services's earnings presentation, April 2026
Slide 1: Edelweiss Financial Services Limited Earnings update – Quarter and Year ended Mar 26
Edelweiss Financial Services Limited Earnings update – Quarter and Year ended Mar 26 US $ version
Slide 2: Contents
CONTENTS Overview 03 Performance highlights 06 Strategic updates 17 Key focus areas for the next year 29 Business performance 31 Governance & corporate responsibility 49
Slide 3: Overview
Overview Year ended Mar 26 3
Slide 4: Edelweiss at a glance
Edelweiss at a glance $628 Mn $1,102 Mn Net Worth Net Debt $0.5 $72 Mn (FV $0.01) Consolidated PAT BVPS 4
Slide 5: Diversified with seven high-quality businesses
Diversified with seven high-quality businesses Edelweiss Financial Services Ltd (EFSL) Alternative Asset Housing General Life Mutual Fund NBFC Asset Mgt Reconstruction Finance Insurance Insurance Edelweiss Asset EAAA India Edelweiss Asset Nido Home Zuno General Edelweiss Life Reconstruction ECL Fina
Slide 6: Performance Highlights
Performance Highlights Quarter and Year ended Mar 26 6
Slide 7: Performance highlights
Performance highlights 1 Growth in consol PAT and key metrics of operating businesses Consol PAT for the year grew by 27% YoY Alternative Asset Management FPAUM grew by 32% YoY to $4,724 Mn Mutual Fund Equity AUM increased by 25% YoY to $8,241 Mn MSME and Housing Finance disbursements grew by 200% a
Slide 8: Earnings distribution across businesses
1 Earnings distribution across businesses $ Mn Quarter Ended Year Ended Profit after Tax Mar 26 Mar 25 Mar 26 Mar 25 Alternative Asset Management 8 5 28 24 Mutual Fund 2 0 9 6 Asset Reconstruction 10 12 37 41 NBFC 0 1 1 6 Housing Finance 1 1 2 2 General Insurance (2) 0 (6) (5) Life Insurance 1 2 (17
Slide 9: Key business highlights (1/2)
1 Key business highlights (1/2) Alternative FPAUM $4,724 Mn Fund raise $1,147 Mn in the year Asset Mgt up 32% YoY up 64% YoY Equity AUM $8,241 Mn SIP Book $66 Mn Mutual Fund up 25% YoY up 58% YoY Asset Recoveries in the year Capital employed in retail Reconstruction $908 Mn 29% 9
Slide 10: Key business highlights (2/2)
1 Key business highlights (2/2) MSME Disbursals $111 Mn in the year Wholesale book $185 Mn NBFC down 30% YoY tripled YoY Housing Disbursals $229 Mn in the year AUM $518 Mn Finance up 27% YoY up 16% YoY General GWP $137 Mn in the year Issued 8,72,901 policies in the year Insurance up 28% YoY up 47% Y
Slide 11: Total customer reach grew by 31% YoY
2 Total customer reach grew by 31% YoY In Lakhs Total Customer Reach Mutual Fund Folios General Insurance Customers 135 93 37 103 70 26 Mar 25 Mar 26 Mar 25 Mar 26 Mar 25 Mar 26 31% YoY 46% YoY 31% YoY 11
Slide 12: With a steady growth in customer assets
2 With a steady growth in customer assets $ Mn Customer Assets Alternative Asset Mgt AUM Mutual Fund AUM 25,370 16,713 7,681 22,835 14,981 6,300 Mar 25 Mar 26 Mar 25 Mar 26 Mar 25 Mar 26 11% YoY 22% YoY 12% YoY 12
Slide 13: Strong balance sheet with well capitalised businesses
3 Strong balance sheet with well capitalised businesses Business Metric Value NBFC Capital Adequacy 30% Housing Finance Capital Adequacy 29% Asset Reconstruction Capital Adequacy 80% General Insurance Solvency Ratio 157% Life Insurance Solvency Ratio 176% 13
Slide 14: Net debt across businesses
3 Net debt across businesses $ Mn Business Mar 26 Mar 25 NBFC 251 305 Housing Finance 191 185 Alternative Asset Management 36 38 Asset Reconstruction (53) (17) Corporate 677 668 Net Debt 1,102 1,180 14
Slide 15: Comfortable liquidity position over next 1 year
3 Comfortable liquidity position over next 1 year Apr 26 to Mar 27 $ Mn Opening Available Liquidity (A) 687 Inflows Expected Inflows 951 Fresh Borrowings 285 Total Inflows (B) 1,236 Outflows Repayments 761 Disbursements 528 Total Outflows (C) 1,289 Closing Available Liquidity (A+B-C) 634 15
Slide 16: Assets in each tenor range adequately cover liabilities
3 Assets in each tenor range adequately cover liabilities $ Mn Assets Liabilities Excess / (Gap) Up to 1 year 1,067 961 106 1-3 years 1,247 1,204 42 3 years+ 909 433 475 16
Slide 17: Strategic Updates
Strategic Updates 1. EAAA Placement and Listing 2. Citius InvIT IPO 3. Strategic Investment by Carlyle in Nido 4. EARC MD and CEO Appointment 5. Key Priorities: Progress over the last 2 Years 17
Slide 18: Update on EAAA placement
1 Update on EAAA placement Completed the sale of 4.4% of EAAA’s common equity in March 2026 This was driven by strong investor demand and interest. While the initial intent was to place around 4%, demand significantly exceeded this and we chose to restrict the placement to 4.4% The allocation has be
Slide 19: Next steps on EAAA listing
1 Next steps on EAAA listing Filing of DRHP Review by SEBI Listing EAAA filed DRHP for IPO on SEBI approval for DRHP RHP filing and IPO January 19, 2026 received on April 23, 2026 Completed Completed To be Planned 19
Slide 20: Listing of Citius, a transport-focused InvIT managed by EAAA
2 Listing of Citius, a transport-focused InvIT managed by EAAA Citius successfully completed its IPO in April 2026, with the issue consisting entirely of a fresh offer of $117 Mn The IPO was oversubscribed ~20x (excluding anchor book), the highest subscription achieved by a public InvIT in India. Th
Slide 21: Update on strategic investment by Carlyle in Nido
3 Update on strategic investment by Carlyle in Nido Global investment firm Carlyle will invest $230 Mn in Nido Home Finance (Nido), including both primary and secondary investment Carlyle will acquire a 45% stake in Nido through a secondary purchase and will also infuse primary equity capital of $16
Slide 22: Process and next steps
3 Process and next steps Investment and Share Transfer Shareholders’ Shareholders’ CCI Approval RBI Approval and Issuance Agreements Approval Execution to Carlyle Feb 2026 Mar 2026 Apr 2026 Completed Received Received Awaited Post RBI approval 22
Slide 23: EARC MD & CEO appointment: RBI approval received
4 EARC MD & CEO appointment: RBI approval received We have received the approval from RBI for the appointment of Mr. Arun Mehta as MD & CEO of EARC Mr. Mehta, ex-MD of SBI Capital Markets, is a veteran banker with four decades of experience He has led syndication and investment portfolios in Hong Ko
Slide 24: Update on key priorities: Progress over the last 2 years
5 Update on key priorities: Progress over the last 2 years A Growth and value creation in operating businesses B Insurance businesses on track to breakeven by FY27 C Focused reduction in corporate net debt 24
Slide 25: Robust value creation in operating businesses
5.a Robust value creation in operating businesses $ Mn Business Metrics FY24 FY26 CAGR FPAUM 3,212 4,724 21% Alternative Asset Management AUM 5,777 7,681 15% Equity AUM 4,617 8,241 34% Mutual Fund SIP Book 25 66 63% Asset Cum. 5,467 6,995 - Reconstruction Recoveries Housing Finance Disbursals 140 22
Slide 26: Scale up in profits of Asset Management businesses
5.a Scale up in profits of Asset Management businesses $ Mn PAT for year ended March Alternative Asset Mgt Mutual Fund 28 9 18 4 Mar 24 Mar 26 Mar 24 Mar 26 23% CAGR 50% CAGR 26
Slide 27: Insurance businesses on track to breakeven: Losses
5.b Insurance businesses on track to breakeven: Losses 23% $ Mn PAT for year ended March General Insurance Life Insurance Mar 24 Mar 26 (6) (13) (17) (17) (23) (29) 23% PAT for year ended Mar 26 includes Exceptional Items of $(7) Mn in Life Insurance and $(1) Mn in General Insurance. 27
Slide 28: Corporate net debt declined by 20% over 2 years
5.c Corporate net debt declined by 20% over 2 years $ Mn 20% 850 677 Mar 24 Mar 26 28
Slide 29: Key Focus Areas for the Next Year
Key Focus Areas for the Next Year 29
Slide 30: Key focus areas for the next year
Key focus areas for the next year 1 List EAAA at an opportune time aligned with market conditions 2 Close strategic investment by Carlyle in Nido post regulatory approvals and ensure a smooth transition 3 Continue to scale Asset Management businesses anchored by strong FPAUM and Equity AUM growth 4
Slide 31: Business Performance
Business Performance Quarter and Year ended Mar 26 31
Slide 32: Alternative Asset Mgt: Business performance snapshot
Alternative Asset Mgt: Business performance snapshot Key Metrics for the quarter Business Update FPAUM ($ Mn) 4,724 Fund raise of $1,147 Mn in the year, up 64% YoY FPAUM grew by 32% YoY to $4,724 Mn AUM ($ Mn) 7,681 Raised $119 Mn in Anzen (energy focused InvIT) in the year Funds Raised ($ Mn) 346 F
Slide 33: Alternative Asset Mgt: Financial performance snapshot
Alternative Asset Mgt: Financial performance snapshot $ Mn Quarter ended Quarter ended Year ended Year ended Mar 26 Mar 25 Mar 26 Mar 25 AUM 7,681 6,300 7,681 6,300 FPAUM 4,724 3,574 4,724 3,574 Equity 114 102 114 102 Total Income 28 19 102 83 Opex 18 13 66 53 Profit after Tax 8 5 28 24 33
Slide 34: Alternative assets overview
Alternative assets overview AUM – Strategy wise AUM – Geography wise FPAUM – Strategy wise 2% 2% 37% 42% 41% $7,681 Mn $7,681 Mn $4,724 Mn 58% 57% 61% Private Credit Real Assets Others India Rest of the world Private Credit Real Assets Others 34
Slide 35: Mutual Fund: Business performance snapshot
Mutual Fund: Business performance snapshot Key Metrics for the quarter Business Update Equity AUM ($ Mn) 8,241 Equity AUM at $8,241 Mn, up 25% YoY AUM grew by 12% YoY to $16,713 Mn AUM ($ Mn) 16,713 Net equity inflows of $549 Mn in the quarter and $1,696 Mn in the year, up 23% YoY SIP book grew by 5
Slide 36: Mutual Fund: Financial performance snapshot
Mutual Fund: Financial performance snapshot $ Mn Quarter ended Quarter ended Year ended Year ended Mar 26 Mar 25 Mar 26 Mar 25 AUM 16,713 14,981 16,713 14,981 Equity AUM 8,241 6,603 8,241 6,603 Equity 25 22 25 22 Revenue 9 6 33 26 Opex 6 6 22 19 Profit after Tax 2 0 9 6 36
Slide 37: Robust growth in AUM and customer base
Robust growth in AUM and customer base Equity AUM ($ Mn) Debt AUM ($ Mn) 8,241 8,737 8,473 8,367 6,603 4,617 Mar 24 Mar 25 Mar 26 Mar 24 Mar 25 Mar 26 SIP Book ($ Mn) Active Folios (# in Lakhs) 66 37 26 42 25 16 Mar 24 Mar 25 Mar 26 Mar 24 Mar 25 Mar 26 Growing SIP book adds to the predictability of
Slide 38: Asset Reconstruction: Business performance snapshot
Asset Reconstruction: Business performance snapshot Key Metrics for the quarter Business Update Equity ($ Mn) 315 Recovered $908 Mn in the year, up 50% YoY Acquired $144 Mn retail assets in the year Fee Paying AUM ($ Mn) 828 Share of retail assets in capital employed increased to 29%, up from 18% Yo
Slide 39: Asset Reconstruction: Financial performance snapshot
Asset Reconstruction: Financial performance snapshot $ Mn Quarter ended Quarter ended Year ended Year ended Mar 26 Mar 25 Mar 26 Mar 25 Fee Paying AUM 828 1,285 828 1,285 Capital Employed 253 354 253 354 Wholesale assets 179 289 179 289 Retail assets 75 66 75 66 Equity 315 373 315 373 Revenue 23 24
Slide 40: NBFC: Business performance snapshot
NBFC: Business performance snapshot Key Metrics for the quarter Business Update Equity ($ Mn) 214 Disbursals of $111 Mn in MSME loans in the year, tripled YoY 345 Gross loan book at $187 Mn, up 40% YoY AUM ($ Mn) Asset quality stable – GNPA at 2.20% Capital Adequacy 30% NNPA at 1.21% Collectio
Slide 41: NBFC: Financial performance snapshot
NBFC: Financial performance snapshot $ Mn Quarter ended Quarter ended Year ended Year ended Mar 26 Mar 25 Mar 26 Mar 25 AUM 345 374 345 374 Gross Loan Book 187 133 187 133 Gross Revenue 14 23 71 78 Net Revenue 1 8 17 11 Opex 1 4 14 23 Credit Cost 0 2 2 (19) Profit after Tax 0 1 1 6 GNPA 2.20% 2.73%
Slide 42: ECLF wholesale book on a steady downward trajectory
ECLF wholesale book on a steady downward trajectory $ Mn 76% 761 438 264 185 Mar 23 Mar 24 Mar 25 Mar 26 Reduced by $575 Mn in last 3 years 42
Slide 43: Housing Finance: Business performance snapshot
Housing Finance: Business performance snapshot Key Metrics for the quarter Business Update Equity ($ Mn) 90 Disbursals of $229 Mn in the year, up 27% YoY AUM at $518 Mn, up 16% YoY AUM ($ Mn) 518 Asset quality continues to be stable – GNPA at 2.31% Capital Adequacy 29% NNPA at 1.90% Collection
Slide 44: Housing Finance: Financial performance snapshot
Housing Finance: Financial performance snapshot $ Mn Quarter ended Quarter ended Year ended Year ended Mar 26 Mar 25 Mar 26 Mar 25 AUM 518 447 518 447 Gross Loan Book 370 343 370 343 Gross Revenue 15 15 63 55 Net Revenue 6 6 26 21 Opex 5 5 21 18 Credit Cost 0 0 2 1 Profit after Tax 1 1 2 2 GNPA 2.31
Slide 45: General Insurance: Business performance snapshot
General Insurance: Business performance snapshot Key Metrics for the quarter Business Update Equity ($ Mn) 37 Gross written premium (GWP) increased by 42% YoY in the quarter and 28% YoY in the year Motor segment gross direct premium income (GDPI) GWP ($ Mn) 39 grew 27% YoY in the year vs. industry g
Slide 46: General Insurance: Financial performance snapshot
General Insurance: Financial performance snapshot $ Mn Quarter ended Quarter ended Year ended Year ended Mar 26 Mar 25 Mar 26 Mar 25 Gross Written Premium 39 27 137 107 Net Premium Income 19 16 70 61 Investment Income & 8 6 29 25 Other Income Total Income 26 22 98 87 Policy benefits & 15 12 59 49 in
Slide 47: Life Insurance: Business performance snapshot
Life Insurance: Business performance snapshot Key Metrics for the quarter Business Update Equity ($ Mn) 48 Gross premium of $235 Mn in the year, up 6% YoY Issued 67,809 policies in the year, up 36% YoY Individual APE ($ Mn) 25 Total AUM at $1,101 Mn, up 11% YoY Policies Issued 24,874 Embedded Value
Slide 48: Life Insurance: Financial performance snapshot
Life Insurance: Financial performance snapshot $ Mn Quarter ended Quarter ended Year ended Year ended Mar 26 Mar 25 Mar 26 Mar 25 Gross Premium 97 93 235 220 Net Premium Income 96 92 230 216 Investment Income & (25) 6 39 81 Other Income Total Income 71 98 269 297 Policy benefits & 40 68 188 222 insu
Slide 49: Governance & Corporate Responsibility
Governance & Corporate Responsibility 49
Slide 50: 7 Member Board with 4 Independent Directors
7 Member Board with 4 Independent Directors Mr. Ashok Kini Independent Director Former Managing Director (National Banking Group) State Bank of India Served as an advisor to the Thorat Committee on Financial Inclusion at RBI 35 years of banking experience Dr. Ashima Goyal Independent Director Profes
Slide 51: Significant institutional ownership
Significant institutional ownership Shareholding Pattern as on Mar 31, 2026 Key Shareholders Holding TIAA CREF Funds 3.6% LIC 2.6% Vanguard Group 2.4% 32.3% Promoter Group DIIs, Non Flowering Tree Investment Institutions 1.7% Management & Others 47.9% Pabrai Investment Funds 1.5% 0.6% Blackrock 1.4%
Slide 52: Our contribution to building a more sustainable tomorrow
Our contribution to building a more sustainable tomorrow Under the leadership of EdelGive Foundation we have, since inception … Assisted over 65% of Ensured long term $174 Mn mobilized association with NGO Partnered with over 301 EdelGive’s NGO partners to through commitments partners with an averag
Slide 53: Our investment in communities
Our investment in communities EdelGive Foundation’s commitment to investing in communities As on Mar 26 Impact metrics since inception up to quarter ended Dec 25 Sustainable Women Quality Education 89 Districts Livelihoods Empowerment across 22 States t 2.2 Cr children impacted t 2.61 lakh Individua
Slide 54: Trusted partner: EdelGive funding partners & networks
Trusted partner: EdelGive funding partners & networks Jagdish Chander Mehta Family Rashesh And Vidya Shah Family Foundation Foundations, Corporates and HNIs partner with Edelgive Platform for their philanthropic allocation 54
Slide 55: Safe Harbour
Safe Harbour DISCLAIMER : This presentation and the discussion may contain certain words or phrases that are forward looking statements, which are tentative, based on current expectations of the management of Edelweiss Financial Services Ltd. or any of its subsidiaries and associate companies (“Edel
Slide 56: Safe Harbour
Safe Harbour Net worth figures include MI. PAT figures are presented pre MI unless stated otherwise. PAT of businesses for the quarter and year ended Mar 26 include exceptional items. Exceptional items include labour code impact and ESOP expenses across businesses and GST impact in Life Insurance bu
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