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Nuvama Wealth Management Limited
(NUVAMA)
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Rating:62Neutral
Price Target:
₹1,734.00
▼(-12.42% Downside)
Action:Reiterated
Date:07/08/26
The score is primarily driven by improved FY2026 operating performance and strong technical trend (price above key moving averages). Offsetting this are elevated balance-sheet leverage, historically volatile cash generation, and a relatively high P/E with only a modest dividend yield.
Positive Factors
Recent Revenue & Margin Strength
A large, recent revenue acceleration with ~22% net margin indicates the core wealth and distribution businesses can scale profitably. Durable because advisory, distribution and broking fees compound with AUM/flows; sustained higher margins improve reinvestment and capital return capacity.
Negative Factors
Elevated Leverage
A jump to ~2.8x debt/equity materially increases financial risk for a wealth manager whose revenue correlates with markets. Higher leverage raises interest burden and reduces resilience to AUM drawdowns, constraining investment and strategic flexibility if markets soften.
Read all positive and negative factors
Positive Factors
Negative Factors
Recent Revenue & Margin Strength
A large, recent revenue acceleration with ~22% net margin indicates the core wealth and distribution businesses can scale profitably. Durable because advisory, distribution and broking fees compound with AUM/flows; sustained higher margins improve reinvestment and capital return capacity.
Read all positive factors
Nuvama Wealth Management Limited (NUVAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹323.43B
Dividend Yield1.61%
Average Volume (3M)23.83K
Price to Earnings (P/E)29.1
Beta (1Y)1.89
Revenue Growth13.03%
EPS Growth3.59%
CountryIN
Employees3,435
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)59.70
Shares Outstanding184,218,250
10 Day Avg. Volume18,992
30 Day Avg. Volume23,826
Financial Highlights & Ratios
PEG Ratio4.44
Price to Book (P/B)5.13
Price to Sales (P/S)4.52
P/FCF Ratio10.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹2,160.00Price Target Upside9.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)70.41
Revenue Forecast (FY)₹37.65B
Nuvama Wealth Management Limited Business Overview & Revenue Model
Company Description
Operating across India, Nuvama Wealth Management Limited specializes in wealth management, asset management, and capital markets activities. The company offers a range of services including debt advisory, clearing, and both portfolio and investmen...
How the Company Makes Money
NUVAMA generates revenue primarily by monetizing client assets, transactions, and product distribution across its wealth and capital-markets ecosystem. Key revenue streams typically include: (1) Fees linked to client assets and advisory/portfolio ...
Nuvama Wealth Management Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 55.04B | 46.80B | 21.40B | 17.38B | 13.23B | 15.65B |
| Gross Profit | 27.36B | 40.89B | 7.53B | 6.38B | 4.13B | 15.65B |
| EBITDA | 17.94B | 24.77B | 21.93B | 15.32B | 8.74B | 19.13B |
| Net Income | 10.83B | 10.41B | 9.86B | 6.25B | 3.05B | 8.57B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 344.91B | 283.88B | 203.87B | 127.16B | 105.98B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 219.71B | 220.96B | 139.24B | 66.33B | 10.00B |
| Total Debt | 0.00 | 115.44B | 78.39B | 67.46B | 53.98B | 16.59B |
| Total Liabilities | -41.23B | 303.68B | 248.95B | 174.88B | 104.57B | 86.85B |
| Stockholders Equity | 41.23B | 41.21B | 34.90B | 28.95B | 22.54B | 19.13B |
Cash Flow | ||||||
| Free Cash Flow | -10.58B | 20.07B | -4.04B | -17.39B | -19.44B | -14.77B |
| Operating Cash Flow | -10.54B | 20.35B | -3.71B | -16.58B | -18.65B | -14.25B |
| Investing Cash Flow | -1.03B | -34.89B | -652.20M | -797.75M | -1.77B | -821.79M |
| Financing Cash Flow | 8.63B | 31.81B | 6.01B | 13.16B | 18.25B | 21.39B |
Nuvama Wealth Management Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹1.05T | 28.08 | ― | 2.24% | 10.92% | 12.99% | |
77 Outperform | ₹760.38B | 46.31 | ― | 1.80% | 18.20% | 20.56% | |
73 Outperform | ₹366.06B | 78.74 | ― | 0.29% | 37.46% | 45.11% | |
71 Outperform | ₹315.04B | 31.81 | ― | 2.32% | 2.41% | 3.48% | |
62 Neutral | ₹323.43B | 29.10 | ― | 1.61% | 13.03% | 3.59% | |
58 Neutral | ₹446.69B | 35.05 | ― | 1.10% | 28.01% | 12.99% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
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Nuvama Wealth Management Limited Corporate Events
Nuvama Shareholders Clear ESAR Scheme and Executive Pay Revisions via Postal Ballot
Aug 2, 2026
Shareholders of Nuvama Wealth Management Limited have approved a series of special resolutions through a postal ballot and remote e-voting process, including the introduction of the Nuvama Wealth Management Limited Employee Stock Appreciation Righ...
Nuvama posts record quarterly profit as client assets top ₹5 lakh crore
Jul 30, 2026
Nuvama Wealth Management Limited reported its highest-ever quarterly profit of ₹306 crore for the quarter ended 30 June 2026, with consolidated revenues rising 18% year-on-year to ₹909 crore and profit after tax up 16%. Client assets c...
Nuvama Launches Remote E-Voting Postal Ballot for Special Business Approvals
Jul 1, 2026
Nuvama Wealth Management Limited has initiated a postal ballot process, conducted exclusively through remote e-voting, to seek shareholder approval for special business items outlined in a notice dated June 29, 2026. The company has dispatched the...
CRISIL Upgrades Nuvama Wealth Management and Subsidiaries’ Long-Term Ratings
Jun 19, 2026
Nuvama Wealth Management Limited announced that CRISIL Ratings has upgraded its long-term credit rating to CRISIL AA with a Stable outlook from CRISIL AA- with a Positive outlook, while reaffirming its top-tier short-term rating of CRISIL A1+. The...
Nuvama Releases FY26 Consolidated Results Investor Presentation in U.S. Dollars
May 21, 2026
Nuvama Wealth Management Limited has released an investor presentation in U.S. dollars detailing its audited consolidated financial results for the fourth quarter and full financial year ended March 31, 2026. The disclosure, filed with BSE and NSE...
Nuvama clears FY26 results and declares interim dividend
May 11, 2026
Nuvama Wealth Management Limited’s board has approved the consolidated and standalone audited financial results for the quarter and financial year ended 31 March 2026, signaling completion of its annual reporting cycle. The audited results, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.