Edelweiss Financial Services Limited · NSE:EDELWEISS
Edelweiss Financial Services — Shareholder Meeting (September 2025)
38 slides from Edelweiss Financial Services's shareholder meeting presentation, Sep 26, 2025
Slide 1: Cover letter to stock exchanges: 30th AGM presentation
EW/Sec/2025-26/217 September 26, 2025 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001. Mumbai – 400 051. Scrip Code: - 532922 Symbol: – EDELWEISS Dear Sir/Madam, Sub: 30th Annual General Meeting -
Slide 2: Edelweiss Financial Services Limited 30th Annual General Meeting
EDELWEISS FINANCIAL SERVICES LIMITED 30TH ANNUAL GENERAL MEETING
Slide 3: Contents
CONTENTS Year in Review: Key Highlights 05 Strategic Priorities That Shaped Our Journey 15 Understanding Corporate as a Segment 25 Intrinsic Value: Guiding Our Long-Term Success 30
Slide 4: Edelweiss at a glance – year ended Mar 25
Edelweiss at a glance – year ended Mar 25 INR 5,918 Cr INR 11,170 Cr Net Worth Net Debt INR 47 INR 536 Cr (FV ₹1) Consolidated PAT BVPS 3
Slide 5: Diversified with seven high-quality businesses
Diversified with seven high-quality businesses Edelweiss Financial Services Ltd (EFSL) Nos in INR Asset Housing General Life Alternative Mutual Fund NBFC Asset Mgt Reconstruction Finance Insurance Insurance ECL Finance EAAA India Edelweiss Asset Edelweiss Asset Ltd (ECLF) Nido Home Zuno General Edel
Slide 6: Key Highlights Year ended Mar 25
Key Highlights Year ended Mar 25 5
Slide 7: Key highlights for the year
Key highlights for the year 1 Robust growth in PAT of underlying businesses 24% YoY 2 Total customer reach increased to 10 Mn 36% YoY 3 Consol net debt reduced by INR 4,170 Cr 27% YoY Strengthened balance sheet; executed a one-time strategic markdown in ECLF 4 wholesale book 6
Slide 8: Earnings distribution across businesses
Earnings distribution across businesses INR Cr Year Ended Profit after Tax Mar 25 Mar 24 Alternative Asset Management 230 175 Mutual Fund 53 38 Asset Reconstruction 385 355 NBFC 55 150 Housing Finance 19 19 General Insurance (48) (123) Life Insurance (127) (157) PAT of Underlying Businesses 566 458
Slide 9: Robust growth in PAT of underlying businesses
Robust growth in PAT of underlying businesses … INR Cr 24% 566 458 FY24 FY25 8
Slide 10: Strong scale up in profits of Asset Management businesses
… driven by strong scale up in profits of Asset Management businesses … INR Cr Alternative Asset Mutual Fund Management 230 53 175 38 FY24 FY25 FY24 FY25 31% YoY 40% YoY 9
Slide 11: Reduction in losses in Insurance businesses
… and reduction in losses in Insurance businesses INR Cr General Insurance Life Insurance FY24 FY25 FY24 FY25 (48) (127) (123) (157) 61% YoY 19% YoY Insurance businesses are on track to breakeven by FY27 10
Slide 12: Total customer reach grew by 36% YoY
Total customer reach grew by 36% YoY In Lakhs Customer Reach Mutual Fund Folios General Insurance Customers 103 70 26 76 51 16 Mar 24 Mar 25 Mar 24 Mar 25 Mar 24 Mar 25 36% YoY 64% YoY 38% YoY 11
Slide 13: Consol net debt reduced by INR 4,170 Cr YoY
Consol net debt reduced by INR 4,170 Cr YoY Net Debt (INR Cr) INR Cr Business Mar 25 Mar 24 15,340 NBFC 2,890 4,126 11,170 Housing Finance 1,750 1,370 Alternative Asset Mgt 364 445 Asset Reconstruction (159) 1,351 Corporate 6,325 8,048 Net Debt 11,170 15,340 Mar 24 Mar 25 27% YoY 12
Slide 14: Strong balance sheet with well capitalised businesses
Strong balance sheet with well capitalised businesses Business Metric Value NBFC Capital Adequacy 32.9% Housing Finance Capital Adequacy 33.6% Asset Reconstruction Capital Adequacy 90.5% General Insurance Solvency Ratio 158% Life Insurance Solvency Ratio 181% 13
Slide 15: Strategic markdown in ECLF wholesale book
Strategic markdown in ECLF wholesale book Executed a one-time strategic markdown of ~INR 1,140 Cr in ECLF Security Receipts (SR) book in quarter ended Mar 25 No change in underlying cash flows; no deterioration in asset quality Markdown is temporary – will add back to equity over 3-4 years The
Slide 16: Strategic Priorities That Shaped Our Journey
Strategic Priorities That Shaped Our Journey 15
Slide 17: Over the last 6 years, our key priorities have been
Over the last 6 years, our key priorities have been … 1 Reducing the wholesale book 2 Reducing consol net debt 3 Growing underlying businesses 4 Creating and unlocking value in businesses 16
Slide 18: Wholesale assets in NBFC reduced by 86% over last 6 years
1 Wholesale assets in NBFC reduced by 86% over last 6 years ECLF wholesale assets INR Cr 17,500 86% 10,370 2,400 Mar 19 Mar 22 Jun 25 17
Slide 19: Consol net debt reduced by ~INR 29,000 Cr over last 6 years
2 Consol net debt reduced by ~INR 29,000 Cr over last 6 years INR Cr 39,935 73% 18,400 10,920 Mar 19 Mar 22 Jun 25 18
Slide 20: Demonstrated robust growth in underlying businesses
3 Demonstrated robust growth in underlying businesses INR Cr Business Metrics Mar 19 Jun 25 CAGR AUM 19,620 62,970 21% Alternative Asset Management PAT* 8 219 70% Equity AUM 7,030 72,600 45% Mutual Fund PAT* 3 54 62% GWP* 104 1,039 45% General Insurance PAT* (60) (44) 5% Gross Premium* 885 2,097 15%
Slide 21: Value unlock – Our ideology
4 Value unlock – Our ideology Guiding Principles 1 Business readiness 2 Value & market interest 3 “Win-Win-Win” for all stakeholders Operational agility and the opportunity to engage Business with high-impact strategic partners Participation in the growth journey of individual Shareholders businesse
Slide 22: Nuvama demerger and listing demonstrates this ideology
4 Nuvama demerger and listing demonstrates this ideology very well Nuvama Primary Capital Infusion of INR 700 Cr EFSL Received 30% stake in Nuvama (~ INR 6,500 Cr in market value currently) Shareholders EFSL Liquidity of ~ INR 5,450 Cr over 3 years 21
Slide 23: Mutual Fund stake sale update
4 Mutual Fund stake sale update WestBridge Capital has acquired a 15% strategic stake in Edelweiss Mutual Fund. The deal is subject to regulatory approvals. The acquisition is for a consideration of INR 450 Cr. The transaction values the business at 57x P/E on FY25 PAT of INR 53 Cr, which aligns wit
Slide 24: EAAA IPO update
4 EAAA IPO update We are targeting to launch the EAAA IPO around April 2026 The IPO marks the first step towards building EAAA as a standalone, institutionalized platform As a listed entity, EAAA will be better positioned to pursue inorganic growth and further strengthen its institutional charac
Slide 25: We have consistently delivered on all our commitments
To summarize, we have consistently delivered on all our commitments Wholesale book reduced by 86% Consol net debt declined by 73% Business metrics witnessed robust growth Value creation and unlocking underway 24
Slide 26: Understanding Corporate as a Segment
Understanding Corporate as a Segment 25
Slide 27: Corporate undertook higher debt and interest obligations
To strengthen the businesses, Corporate undertook higher debt and interest obligations Corporate net debt grew between Mar 22 and Mar 24 to ~INR 8,000 Cr To support businesses, To infuse equity into particularly NBFC the Insurance entities We are now actively focused on reducing Corporate net debt 2
Slide 28: Corporate net debt is now on the path to reduction
Corporate net debt is now on the path to reduction … INR Cr 21% 8,048 6,350 Mar 24 Jun 25 27
Slide 29: Plan to reduce corporate net debt to near zero over 3 years
… with a clear plan to reduce this to near zero over the next 3 years INR Cr Corporate Net Debt 6,350 Expected cash inflows over the next 3 years: Current value of Property and 3,000 Investments Dividends from Businesses 1,500 Stake Sale in Businesses 2,000- 3,000 28
Slide 30: Corporate PAT can be divided into three parts
Corporate PAT can be divided into three parts Cost of borrowing (-) Income on yielding assets 1 Net Interest Cost Will reduce significantly on reduction of net debt 2 Operating Expenses Expenses of ~INR 100 Cr annually, will remain flat Episodic valuation gains, especially stakes in 3 Net Ca
Slide 31: Intrinsic Value: Guiding Our Long-Term Success
Intrinsic Value: Guiding Our Long-Term Success 30
Slide 32: Intrinsic Value – Our compass for long-term value creation
Intrinsic Value – Our compass for long-term value creation Intrinsic Value reflects the estimated true worth of the business, based on its fundamentals, considering both quantitative and qualitative parameters Markets in the mid-term may over or undervalue businesses, but eventually align in the lon
Slide 33: Strong business performance driving Intrinsic Value
Strong business performance driving Intrinsic Value INR Cr Business Metric FY20 FY25 CAGR • Assets Under Management (AUM) 21,700 59,630 22% Alternative Asset Mgt • Profit After Tax (PAT) 23 230 59% • Equity AUM 6,500 62,500 57% Mutual Fund • Profit After Tax (PAT) 1 53 110% • Gross Written Premium (
Slide 34: Delivering robust growth in Intrinsic Value over time
Delivering robust growth in Intrinsic Value over time INR Cr Business Intrinsic Value EFSL’s Share 5 Year CAGR Alternative Asset Mgt 10,000 10,000 32% Mutual Fund 3,800 3,800 31% General Insurance 4,800 4,800 43% Life Insurance 5,250 4,200 21% Asset Reconstruction 3,550 2,150 NBFC 3,350 3,350 Pivoti
Slide 35: Strategic options to unlock Intrinsic Value for stakeholders
Strategic options to unlock Intrinsic Value for stakeholders Strategic Partnerships Direct Listing Expand market access & growth Unlock liquidity & visibility opportunities Capital Return (Buyback / Strategic Restructuring/Demerger Dividends) Create focused, high-growth entities Deliver direct value
Slide 36: In summary
In summary Moving forward, we will continue to… 1 Be financially resilient by further reducing corporate net debt 2 Create value by scaling up our underlying businesses 3 Unlock value at opportune times 35
Slide 37: 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 (“Ed
Slide 38: Safe Harbour
Safe Harbour Slide 3: Net worth includes MI. Consolidated PAT is pre MI Slide 3,6,12,18,24,26,27,28,33: Debt includes accrued interest and excludes CBLO and securitisation liabilities. Net debt is gross debt minus high quality liquid assets Slide 4: Equity figures and EFSL stakes are reported as of
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