Wealth First Portfolio Managers Ltd. · NSE:WEALTH
Wealth First Portfolio Managers — Q2 FY27 Earnings Presentation
38 slides from Wealth First Portfolio Managers's earnings presentation, Nov 3, 2026
Slide 1: Cover letter to stock exchanges
DATE: 3RD NOVEMBER, 2026 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 NSE
Slide 2: Q2 & H1 FY27 Investor Presentation
WEALTH FIRST PORTFOLIO MANAGERS LIMITED Q2 & H1 FY27 INVESTOR PRESENTATION
Slide 3: 12,410 dots. One for every day of 34 years
12,410 dots. One for every day of the last 34 years. 34 times 365, the arithmetic of an institution. No two are alike. Some sit large and deeply coloured, the days that defined a decade. Most are small, faint, almost invisible, the ordinary days when nothing seemed to move at all. That’s the honest
Slide 4: 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 5: Q2 & H1 FY27 Financial Highlights
Q2 & H1FY27 Financial Highlights 4
Slide 6: Management Commentary
Management Commentary Commenting on the results and performance for Q2 & H1 FY27, Mr. Ashish Shah, Managing Director of Wealth First Portfolio Managers Limited said: “The evolution of Wealth First into a broader financial services platform is progressing steadily, with each of our business verticals
Slide 7: Key Business Update
Key Business Update Scaling Our Platform, Expanding Offerings and Strengthening Execution Mumbai Expansion Insurance Broking Business Asset Management & Product Initiatives through WFA Acquisition Moving from Establishment to Scalable Growth Advancing Product Pipeline and Execution Entered into a Sh
Slide 8: Consistent Growth in Trail Base AUM, Highest-Ever Quarterly Trail Revenue
Consistent Growth in Trail Base AUM, Driving Highest-Ever Quarterly Trail Revenue (In Rs. Cr) Consistent Growth in Quarterly Trail Base Revenue Accelerating Growth in Half-Yearly Trail Revenue +21.4% 12.9 12.9 13.5 +21.4% 24.7 25.9 24.0 7.1 6.2 13.5 11.9 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 H1 FY23 H1
Slide 9: AUA Overview
AUA Overview (In Rs. Cr) AUA by Asset Class (in Rs. Cr) ▲0.04% ▲5.6% ▲16.7% ▲68.7% ▲1.5% ▲16.1% ▼-8.9% ▼19.7% ▲0.7% ▲4.0% ▲2.6% ▲19.3% Growth QoQ Growth YoY Growth QoQ Growth YoY Growth QoQ Growth YoY Growth QoQ Growth YoY Growth QoQ Growth YoY Growth QoQ Growth YoY 6,194 6,196 242 82 217 2,588 2,60
Slide 10: Operational Performance
Operational Performance A Strong Relationship Network driven by an Experienced Team Association of relationship of Relationship Managers Years of Industry Experience of our Relationship with Wealth First Managers (%) RM Vintage (%)* 40 58 40 58 24% 35% 30% 45% 12% 10% 13% 19% 9% 25% 23% 22% 45% 30%
Slide 11: Operational Performance
Operational Performance Expanding Client Base, Backed by Strong Long-Term Relationships Total Client Vintage (%) Total Client Families 21,237 22,146 4.8% 7,039 6,717 14% 13% 5% 6% 16% 15% 65% 65% Sep-25 Sep-26 Sep-25 Sep-26 0 to 3 years 3 to 5 years 5 to 10 years >10 years ✓ 80% of our clients have
Slide 12: Industry Equity Net Flows
Equity Net Flows (In Rs. Cr) Mar-23 Mar-24 Mar-25 Mar-26 Sep-26* 1,46,754 1,84,091 4,17,053 3,46,536 1,82,654 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 -3,053 -7,944 1,5
Slide 13: Consolidated Profit And Loss
Consolidated Profit And Loss Particulars (in Rs. Cr) Q2 FY27 Q2 FY26 YoY Q1 FY27 QoQ H1 FY27 H1 FY26 YoY Income Revenue from operations 15.3 20.6 14.3 29.6 45.4 Other Income 1.9 0.2 4.7 6.6 0.3 Total Revenue 17.2 20.8 -17.0% 19.0 -9.3% 36.2 45.7 -20.7% Employee benefit expense 5.2 4.2 2.9 8.2 6.1 Ot
Slide 14: Profit And Loss Analysis
Profit And Loss Analysis The decline in revenue from operations in Q2 and H1 FY27 on a YoY basis is primarily due to the absence of certain one-time and transactional revenues recorded in H1 FY26, particularly from the insurance business and secondary market brokerage. However, Revenue recurring tra
Slide 15: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Particulars (in Rs. Cr) Sept-26 Mar-26* Particulars (in Rs. Cr) Sept-26 Mar-26* ASSETS EQUITY Non-current assets Equity share capital 10.7 10.7 Property, Plant and Equipment 2.5 2.4 Other equity 154.5 139.8 Other Intangible Assets 0.5 0.1 Non Controlling Interest
Slide 16: Proforma Financial & Operating Metrics
Proforma Financial & Operating Metrics WFA Consolidated Particulars (in Rs. Cr) Wealth First Portfolio Managers (Target Company) (Proforma) FY26 H1 FY27 FY26 H1 FY27 FY26 H1 FY27 Revenue from Operations 68.4 29.6 17.9 9.5 86.3 39.1 Profit Before Tax 51.7 22.5 7.8 4.4 59.5 26.9 ARR AUM 5,558 6,438 2,
Slide 17: About Us
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Slide 18: Wealth First Overview
Wealth First Overview Geographic Presence Headquartered in Ahmedabad, Gujarat with presence in Surat, Pune and Mumbai. 33rd* 105 17 Rank in India – Wealth Business AMC MF Distribution Team Size Team Size Three Decades of Expertise RM Vintage: 46% > 5 years Over three decades of trusted 22,146 ₹29.6
Slide 19: Our 34 Years of Journey
Our 34 Years of Journey 1992 1996 -2000 2006 -2008 2008 -2009 2010 Started out as Dalal Exclusive distributor for • CNBC TV18 Financial Protected client wealth Became a one-stop & Shah Financial Franklin Templeton schemes Advisor Award during Lehman crisis financial platform (CDSL + Services Pvt. Lt
Slide 20: What We Have Built
What We Have Built Wealth Management Lakshya Asset Management Wealthshield Insurance Brokers The manufacturer. A SEBI-licensed AMC built to create The protector. An IRDAI-licensed Direct Insurance The foundation. Advice-led client relationships across proprietary investment products that fill the ga
Slide 21: Towards a Larger Vision: Lakshya Asset Management
Towards a Larger Vision From License to Launch: Final Product Setup Underway Lakshya – Built to create meaningful impact Clear Focus To participate in India’s journey of mobilization of savings towards investing, we have launched an AMC under the name of Purpose-driven solutions for real investor ne
Slide 22: Wealthshield: Building The Foundation for Scalable Growth
Wealthshield: Building The Foundation for Scalable Growth Insurance has always been a key part of our wealth management philosophy. To participate in the growing insurance sector, we expanded into the Insurance Broking business and received the Insurance Broking licence from IRDAI, enabling our entr
Slide 23: PMS: Addressing an Investment Gap for NRIs
PMS: Addressing an Investment Gap for NRIs Our philosophy has always been simple: identify a genuine client need first, then build the right solution Our Solution The Opportunity The Challenge Nifty 100 Index PMS Demand for Indian equity exposure Investments through pooled investment among US and Ca
Slide 24: Acquisition Overview
Acquisition Overview Brief on Target Company (Promoter Group) Financials for FY26 (Rs. Cr) Deal Contours • Established in 2001, Wealth First Advisors (‘WFA’) is a wealth management and financial distribution firm providing Revenue PAT Networth • Acquisition to be completed in two phases investment a
Slide 25: Our Offerings
Our Offerings Fixed Deposits Investment Strategising Asset Research Treasury Bonds Trade-Execution-Broking Direct Bonds Portfolio Review and Accounting Taxable & Tax-Free Bonds Retirement Planning Products Services Direct Equity Tax Planning Mutual Funds Asset Allocation International investment opt
Slide 26: Six Years of Consistent Growth Across Key Parameters
Six Years of Consistent Growth Across Key Parameters Trail-Based AUM: Exceptional Growth Trajectory In Rs. Cr Total Clients Person Years of Experience 5,558 16,773 21,746 480 1,014 FY20 FY26 FY20 FY26 1,612 Families Served New Client Additions 4,851 6,889 372 987 FY20 FY26 FY20 FY26 FY20 FY26 Strong
Slide 27: Seasoned Board Of Directors
Seasoned Board Of Directors Mr. Ashish Ms. Hena Navnitlal Shah Ashish Shah Managing Director Whole-Time Director (Promoter) (Promoter) Ms. Binal Mr. Amit Mr. Saurabh Mr. Siddharth Gandhi Trivedi Sonthalia Shah Non-Executive Independent Independent Independent Director Director Director Director 26
Slide 28: Key Management Personnel
Key Management Personal Mr. Rakesh Mr. Dhiren Mr. Manish Shah Parikh Kansara Chief Investment Chief Financial Chief Operations Officer Officer Officer Mr. Nirad Mr. Nishil Ms. Sajni Shah Pandya Patel Head - Business Head - Business Senior Vice Development & Development & President - Sales Strategy S
Slide 29: Company Strategy
Company Strategy 28
Slide 30: The Wealth First Way
The Wealth First Way Built on Trust. Driven by Knowledge. Sustained by Relationships. Foundation Relationships Knowledge & Philosophy Referral-led growth model 70% of client base from 01 built on credibility 01 Gujarat - our cornerstone Knowledge-first engagement 01 through roadshows, clinics & corp
Slide 31: Our Unique Selling Proposition
Our Unique Selling Proposition Transparency & Client Capital Protection Integrity Empowerment Clear risks, outcomes and Education-driven, confident Risk-managed, fixed- returns; long-term focus decisions. income roots. over sales tactics. Vendor-Agnostic Direct-to-Client Personalized Strategies Unbi
Slide 32: What Makes Us Resilient
What Makes Us Resilient 01 02 03 04 Process Strength and Trust Built Over Time Integrated Risk Smart & Simple Product Sustainability Management Strategy Robust systems and Rooted in discipline, consistent A robust risk framework Focused on straightforward, frameworks built to deliver performance, an
Slide 33: Industry Overview
Industry Overview 32
Slide 34: India's Wealth Management Industry
India’s Wealth Management Industry A large, underpenetrated market with a long growth runway 01 LARGE ADDRESSABLE POOL 02 RISING FINANCIALIZATION 03 HEADROOM FOR SPECIALIZED MANAGERS $2.7 Tn 62 Mn ~11% India’s serviceable wealth management asset Unique MF investors (June 2026) Current share of speci
Slide 35: Historical Performance
Historical Performance 34
Slide 36: Operational Performance
Operational Performance Relationship Managers RM Vintage (%)* 30 29 35 41 58 42% 37% 34% 13 14 43% 45% 13 12 26 3% 3% 11% 12% 1 4 5 1 5 9% 7 27% 24% 23% 24% 8 8 10 22% 13 8 9 10 12 14 27% 31% 29% 29% 24% Mar-23 Mar-24 Mar-25 Mar-26 Sep-26 Mar-23 Mar-24 Mar-25 Mar-26 Sep-26 0 to 3 years 3 to 5 years
Slide 37: AUA Growth Over The Years
AUA Growth Over The Years… Mar-23 Mar-24 Mar-25 Mar-26 Sep-26 3,410 3,741 4,014 4,500 3,253 3,018 4,420 5,304 5,392 6,196 204 45 183 212 234 174 91 48 2,224 60 78 2,605 82 1,985 2,272 1,468 69 82 166 242 Total AUA Rs. 8,078 Cr. Rs. 10,114 Cr. Rs. 11,623 Cr. Rs. 12,157 Cr. Rs. 13,798 Cr. Total ARR AU
Slide 38: Thank You
Company: Wealth First Portfolio Managers Limited CIN: L67120GJ2002PLC040636 Address # street number, city, state Thank Mr. Nishil Pandya / Ms. Sajni Patel nishil@wealthfirst.biz / sajni@wealthfirst.biz Thank You www.wealth-firstonline.com You Contact Numbers: 0123456789 Investor Relations: Strategic
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