Wealth First Portfolio Managers Limited — PPTs, 12-05-2025: Investor Presentation

1. Financial Highlights:

Wealth First Portfolio Managers reported total revenue of Rs. 60.1 Cr, down 10.3% YoY due to weaker trading and other income. Core business revenue, which forms 97% of total revenue, jumped 40.1% YoY to Rs. 58.31 Cr, driven by strong client traction. Trail-based revenue rose 50.4% to Rs. 47.5 Cr. PAT fell 20.1% to Rs. 34.1 Cr, impacted by trading losses, lower other income, and a Rs. 1.5 Cr exceptional cyber fraud charge. Core business PAT grew 87.3% to Rs. 32.4 Cr, with margins improving to 55.6%. Assets under advice increased 14.9% to Rs. 11,623 Cr, led by a 20% rise in trail-based AUM to Rs. 5,386 Cr. Cost-to-income ratio improved by 210 bps to 25.6%, reflecting tighter cost management despite one-offs.

2. Strategic Initiatives & Growth Drivers:

Expansion of the Relationship Manager (RM) team by 21% supports deeper client engagement. Client count rose 6% to 20,759, while client families increased 11% to 6,578 with strong client retention (82% over 5 years). The company maintains a focused product selection approach tailored to client risk profiles. Growth is expected from rising Indian HNI/UHNI populations and increasing financial literacy, aiming to boost AUA and trail fee income.

3. Business Developments:

No significant acquisitions or partnerships reported. Investments continue in advisory quality, digital capabilities, and client education to strengthen service delivery. Enhanced operational and technology resources aim to improve customized wealth management solutions.

4. Market Position & Competitive Advantage:

Ranked 33rd among independent financial advisors nationwide, Wealth First leverages decades of experience, strong client and RM tenure, and product-agnostic advice. Market expertise, risk management, and talent retention build a solid competitive moat in a fragmented advisory landscape.

5. Investor Implications:

Robust core revenue and AUA growth signal positive growth potential supported by expanding clientele and trail income. Execution risks remain from market volatility affecting trading income and potential exceptional charges. Commitment to a 30%+ dividend payout highlights shareholder-friendly policies. Overall, Wealth First is positioned for sustainable scaling in India’s wealth management sector with disciplined operations and financial control.