Nuvama Wealth Management Limited — Quarter ended March 31, 2026 (and year ended March 31, 2026)
Consolidated Financial Results for the quarter and year ended March 31, 2026 (Rs. in Crore)
| Particulars | Quarter ended March 31, 2026 (Audited) (Refer note 10) | Quarter ended December 31, 2025 (Unaudited) | Quarter ended March 31, 2025 (Audited) (Refer note 10) | Year ended March 31, 2026 (Audited) | Year ended March 31, 2025 (Audited) |
|---|---|---|---|---|---|
| 1 Revenue from operations | |||||
| (a) Fee and commission income | 643.64 | 548.32 | 574.76 | 2,283.52 | 2,139.54 |
| (b) Interest income | 554.81 | 473.72 | 485.44 | 1,967.80 | 1,718.02 |
| (c) Dividend income | 1.62 | – | 0.02 | 1.75 | 0.37 |
| (d) Net gain on fair value changes | 69.07 | 82.15 | 59.59 | 377.62 | 300.33 |
| Total revenue from operations | 1,269.14 | 1,104.19 | 1,119.81 | 4,630.69 | 4,158.26 |
| 2 Other income | 11.99 | 1.79 | 4.98 | 18.96 | 11.04 |
| 3 Total Income (1 + 2) | 1,281.13 | 1,105.98 | 1,124.79 | 4,649.65 | 4,169.30 |
| 4 Expenses | |||||
| (a) Finance costs | 257.62 | 242.40 | 214.74 | 976.67 | 821.96 |
| (b) Fee and commission expense | 102.03 | 77.11 | 80.79 | 358.99 | 294.20 |
| (c) Employee benefits expense | 345.54 | 295.14 | 307.86 | 1,261.82 | 1,165.97 |
| (d) Depreciation, amortisation and impairment | 36.21 | 26.64 | 28.67 | 112.51 | 94.37 |
| (e) Impairment on financial instruments | 13.06 | (0.17) | 6.70 | 12.67 | 18.41 |
| (f) Other expenses | 179.92 | 124.29 | 149.71 | 555.84 | 463.47 |
| Total expenses | 934.38 | 765.41 | 788.47 | 3,278.50 | 2,858.38 |
| 5 Profit before share in profit of associate and joint venture and tax (3 – 4) | 346.75 | 340.57 | 336.32 | 1,371.15 | 1,310.92 |
| 6 Share in profit / (loss) of associate | 5.62 | (2.34) | 4.34 | 8.24 | 10.75 |
| 7 Share in profit / (loss) of joint venture | 2.67 | 1.75 | (0.60) | 5.58 | (3.37) |
| 8 Profit before tax (5 + 6 + 7) | 355.04 | 339.98 | 340.06 | 1,384.97 | 1,318.30 |
| 9 Tax expense | |||||
| (a) Current tax | 88.10 | 81.27 | 91.73 | 344.62 | 327.74 |
| (b) Deferred tax | (1.85) | 5.09 | (6.94) | 0.09 | 5.50 |
| 10 Net profit for the period / year (8 – 9) | 268.79 | 253.62 | 255.27 | 1,040.26 | 985.06 |
| 11 Other comprehensive income | |||||
| (a) Items that will not be reclassified to profit or loss | (2.01) | 0.24 | (2.40) | (5.02) | (3.10) |
| (b) Income tax relating to items that will not be reclassified to Profit or Loss | 0.47 | (0.06) | 0.61 | 1.21 | 0.74 |
| (c) Items that may be reclassified to profit or loss | 4.17 | 0.86 | 0.38 | 8.47 | 1.82 |
| 12 Total comprehensive income (10 + 11) | 271.42 | 254.66 | 253.86 | 1,044.92 | 984.52 |
| 13 Net profit for the period / year attributable to: | |||||
| – Owners of the Company | 269.15 | 253.80 | 255.41 | 1,041.04 | 986.17 |
| – Non-controlling interests | (0.36) | (0.18) | (0.14) | (0.78) | (1.11) |
| 14 Other comprehensive income for the period / year attributable to: | |||||
| – Owners of the Company | 2.63 | 1.04 | (1.41) | 4.64 | (0.54) |
| – Non-controlling interests | 0.00 | 0.00 | 0.00 | 0.02 | (0.00) |
| 15 Total comprehensive income for the period / year attributable to: | |||||
| – Owners of the Company | 271.78 | 254.84 | 254.00 | 1,045.68 | 985.63 |
| – Non-controlling interests | (0.36) | (0.18) | (0.14) | (0.76) | (1.11) |
| 16 Earnings Per Share (Rs.) (Face Value of Rs. 2/- each) | |||||
| – Basic (Refer note 4 and 7) | 14.79 | 14.02 | 14.23 | 57.59 | 55.33 |
| – Diluted (Refer note 4 and 7) | 14.40 | 13.62 | 13.81 | 56.06 | 53.71 |
Consolidated statement of assets and liabilities (Rs. in Crore)
| Particulars | As at March 31, 2026 (Audited) | As at March 31, 2025 (Audited) |
|---|---|---|
| ASSETS | ||
| Financial assets | ||
| (a) Cash and cash equivalents | 580.98 | 532.58 |
| (b) Bank balances other than (a) above | 21,390.14 | 19,702.82 |
| (c) Derivative financial instruments | 619.28 | 294.79 |
| (d) Securities held for trading | 1,701.99 | 1,433.89 |
| (e) Trade receivables | 997.29 | 749.81 |
| (f) Loans | 7,659.86 | 4,600.34 |
| (g) Investments | 358.24 | 220.75 |
| (h) Other financial assets | 685.77 | 389.75 |
| Total Financial assets | 33,993.55 | 27,924.73 |
| Non-financial assets | ||
| (a) Current tax assets (net) | 86.28 | 55.80 |
| (b) Deferred tax assets (net) | 30.07 | 30.07 |
| (c) Investment property | 37.82 | 40.28 |
| (d) Property, plant and equipment | 210.81 | 221.43 |
| (e) Capital work in progress | 0.21 | – |
| (f) Intangible assets under development | 8.65 | 5.14 |
| (g) Goodwill | – | 9.96 |
| (h) Other intangible assets | 31.57 | 40.07 |
| (i) Other non-financial assets | 92.31 | 60.15 |
| Total Non-financial assets | 497.72 | 462.90 |
| TOTAL ASSETS | 34,491.27 | 28,387.63 |
| LIABILITIES AND EQUITY | ||
| Liabilities | ||
| Financial liabilities | ||
| (a) Derivative financial instruments | 97.18 | 68.74 |
| (b) Trade payables | ||
| (i) total outstanding dues of micro enterprises and small enterprises | 40.48 | 16.18 |
| (ii) total outstanding dues of creditors other than micro enterprises and small enterprises | 2,290.60 | 6,027.34 |
| (c) Debt securities | 10,541.90 | 6,729.69 |
| (d) Borrowings (other than debt securities) | 1,001.62 | 1,109.14 |
| (e) Other financial liabilities | 16,121.54 | 10,697.33 |
| Total Financial liabilities | 30,093.32 | 24,648.42 |
| Non-financial liabilities | ||
| (a) Current tax liabilities (net) | 70.21 | 34.35 |
| (b) Deferred tax liabilities (net) | 0.08 | 0.09 |
| (c) Provisions | 33.42 | 20.08 |
| (d) Other non-financial liabilities | 171.09 | 191.58 |
| Total Non-financial liabilities | 274.80 | 246.10 |
| Total liabilities | 30,368.12 | 24,894.52 |
| Equity | ||
| (a) Equity share capital | 36.41 | 35.97 |
| (b) Other equity | 4,084.53 | 3,454.17 |
| Equity attributable to owners of the Company | 4,120.94 | 3,490.14 |
| Non controlling interests | 2.21 | 2.97 |
| Total Equity | 4,123.15 | 3,493.11 |
| TOTAL LIABILITIES AND EQUITY | 34,491.27 | 28,387.63 |
Consolidated Statement of Cash Flows (Rs. in Crore)
| Description | Year ended March 31, 2026 (Audited) | Year ended March 31, 2025 (Audited) |
|---|---|---|
| A. Cash flow from operating activities | ||
| Profit before tax | 1,384.97 | 1,318.30 |
| Adjustments for: | ||
| Depreciation, amortisation and impairment (Refer note 2) | 115.60 | 97.03 |
| Impairment on financial instruments | 12.67 | 18.41 |
| Provision for compensated absences | 2.11 | 2.03 |
| Provision for gratuity | 18.54 | 6.45 |
| Share in profit of associate | (8.24) | (10.75) |
| Share in (profit) / loss of joint venture | (5.58) | 3.37 |
| Loss / (profit) on sale of property, plant and equipment | 0.27 | (0.72) |
| Profit on termination of leases | (1.48) | (3.32) |
| Interest income on investments | (14.19) | (7.17) |
| Rental income from investment property | (4.14) | (1.50) |
| Fair value of financial instruments (net) | 47.66 | (14.44) |
| Interest expenses on lease liabilities (Refer note 3) | 17.63 | 16.63 |
| Share based payment expenses | 29.16 | 31.61 |
| Operating cash flow before working capital changes | 1,594.98 | 1,455.93 |
| Adjustments for working capital changes: | ||
| Increase in trade receivables | (252.61) | (118.97) |
| (Increase) / Decrease in loans | (3,068.71) | 279.51 |
| Increase in securities held for trading | (280.16) | (688.66) |
| Increase in Bank balances other than cash and cash equivalents | (1,687.32) | (7,456.09) |
| (Increase) / Decrease in other financial assets | (630.77) | 128.76 |
| (Increase) / Decrease in other non-financial assets | (34.69) | 16.36 |
| (Decrease) / Increase in trade payables | (3,712.44) | 2,373.45 |
| Increase in other financial liabilities | 5,426.60 | 3,925.17 |
| (Decrease) / Increase in non-financial liabilities and provisions | (30.28) | 35.15 |
| Cash used in operations | (2,675.40) | (49.39) |
| Income taxes paid | (338.13) | (323.21) |
| Net Cash used in operations – A | (3,013.53) | (372.60) |
| B. Cash flow from investing activities | ||
| Purchase of property, plant and equipment and intangible assets (including Intangible assets under development and Capital work in progress) | (28.68) | (33.10) |
| Sale of property, plant and equipment and intangible assets | 0.94 | 1.05 |
| Proceeds from sale of investment property | – | 11.00 |
| Investment in equity shares of joint venture | – | (4.77) |
| Interest received on debt securities | 10.89 | 6.75 |
| Interest received on preference shares | 1.66 | 1.45 |
| Rental income from investment property | 4.14 | 1.50 |
| Proceeds on redemption / sale of investments | 341.97 | 194.80 |
| Purchase of other investments (net) | (458.57) | (242.40) |
| Net cash used in investing activities – B | (127.65) | (63.72) |
Consolidated statement of cash flows (financing and net cash) (Rs. in Crore)
| Description | March 31, 2026 | March 31, 2025 |
|---|---|---|
| C. Cash flow from financing activities | ||
| Proceeds from issuance of shares including premium and share application money | 56.47 | 85.98 |
| Proceeds from issuance of debt securities (net)1 | 3,812.21 | 1,103.22 |
| Repayment of Borrowings (other than debt securities) (net)1 | (107.52) | (10.09) |
| Dividend paid on equity shares | (501.17) | (513.93) |
| Repayment of lease obligations | (78.88) | (64.65) |
| Net cash generated from financing activities – C | 3,181.11 | 600.53 |
| Net (decrease) / increase in cash and cash equivalents (A+B+C) | 39.93 | 164.21 |
| Change in foreign exchange translation reserve | 8.47 | 1.82 |
| Cash and cash equivalent as at the beginning of the year | 532.58 | 366.55 |
| Cash and cash equivalent as at the end of the year | 580.98 | 532.58 |
Consolidated Segment Results for the quarter and year ended March 31, 2026 (Rs. in Crore)
| Particulars | Quarter ended March 31, 2026 (Audited) (Refer note 10) | Quarter ended December 31, 2025 (Unaudited) | Quarter ended March 31, 2025 (Audited) (Refer note 10) | Year ended March 31, 2026 (Audited) | Year ended March 31, 2025 (Audited) |
|---|---|---|---|---|---|
| 1) Segment Revenue | |||||
| Wealth management business | 785.09 | 696.89 | 619.53 | 2,761.37 | 2,292.96 |
| Asset management business | 24.72 | 36.22 | 34.59 | 135.64 | 124.91 |
| Capital markets business | 475.18 | 407.90 | 543.96 | 1,916.15 | 2,062.25 |
| Unallocated | 18.65 | 228.90 | 1.99 | 474.36 | 428.01 |
| Sub-total | 1,303.64 | 1,369.91 | 1,200.07 | 5,287.52 | 4,908.13 |
| Inter-segment revenues |