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Nuvama Wealth Management Limited
(NUVAMA)
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Rating:66Neutral
Price Target:
₹1,973.00
▼(-0.34% Downside)
Action:Reiterated
Date:10/08/26
The score is driven primarily by improved fundamentals in FY2026 (rapid revenue growth, solid margins, and a strong cash-flow recovery), but is held back by high leverage and prior-year cash-flow volatility. Technicals are supportive with a clear uptrend, while valuation is a constraint due to a relatively high P/E and only a modest dividend yield.
Positive Factors
FY2026 Revenue and Profit Rebound
The sharp FY2026 revenue acceleration and positive profitability indicate improving business momentum after weaker periods. If supported by continued client activity and asset growth, the rebound can strengthen operating scale, support reinvestment, and improve earnings capacity over the next several quarters.
Negative Factors
Elevated Financial Leverage
The substantial rise in debt-to-equity increases financial risk and reduces flexibility if earnings or market conditions weaken. Higher leverage can also constrain future capital allocation, making the business more dependent on sustained profitability and disciplined balance-sheet management.
Read all positive and negative factors
Positive Factors
Negative Factors
FY2026 Revenue and Profit Rebound
The sharp FY2026 revenue acceleration and positive profitability indicate improving business momentum after weaker periods. If supported by continued client activity and asset growth, the rebound can strengthen operating scale, support reinvestment, and improve earnings capacity over the next several quarters.
Read all positive factors
Nuvama Wealth Management Limited (NUVAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹329.06B
Dividend Yield1.57%
Average Volume (3M)24.79K
Price to Earnings (P/E)29.9
Beta (1Y)1.70
Revenue Growth13.03%
EPS Growth3.59%
CountryIN
Employees3,435
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)59.70
Shares Outstanding184,515,690
10 Day Avg. Volume12,273
30 Day Avg. Volume24,788
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
₹2,220.00Price Target Upside12.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)70.45
Revenue Forecast (FY)₹37.77B
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 | 21.95B | 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 Technical Analysis
Positive
1979.80
Price Trends
1741.48
Positive
1756.19
Positive
1547.15
Positive
Market Momentum
-5.95
Negative
56.43
Neutral
77.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NUVAMA, the sentiment is Positive. The current price of 1979.8 is above the 20-day moving average (MA) of 1739.18, above the 50-day MA of 1741.48, and above the 200-day MA of 1547.15, indicating a bullish trend. The MACD of -5.95 indicates Negative momentum. The RSI at 56.43 is Neutral, neither overbought nor oversold. The STOCH value of 77.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NUVAMA.
Nuvama Wealth Management Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹994.51B | 33.33 | ― | 2.33% | 11.96% | 8.24% | |
77 Outperform | ₹591.75B | 36.46 | ― | 2.39% | 22.78% | 20.44% | |
69 Neutral | ₹377.40B | 82.76 | ― | 0.33% | 34.70% | 32.28% | |
68 Neutral | ₹244.57B | 24.73 | ― | 3.02% | 4.05% | 1.49% | |
66 Neutral | ₹329.06B | 29.88 | ― | 1.57% | 13.03% | 3.59% | |
59 Neutral | ₹416.48B | 33.31 | ― | 1.32% | 24.87% | 7.34% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:NUVAMA
Nuvama Wealth Management Limited
1,783.35
390.11
28.00%
IN:360ONE
360 One Wam Limited
1,021.00
-46.47
-4.35%
IN:ABSLAMC
Aditya Birla Sun Life Amc Limited
845.05
103.63
13.98%
IN:ANANDRATHI
Anand Rathi Wealth Ltd.
2,272.95
734.93
47.78%
IN:HDFCAMC
HDFC Asset Management Co. Ltd.
2,317.70
-312.27
-11.87%
IN:NAM.INDIA
Nippon Life India Asset Management Ltd.
924.55
76.91
9.07%
Nuvama Wealth Management Limited Corporate Events
Nuvama boosts share capital with ESOP-linked allotment
Sep 21, 2026
Nuvama Wealth Management Limited operates in the financial services industry, focusing on wealth management solutions for clients in India. The company is listed on both BSE and NSE and maintains its registered office in Mumbai’s Bandra Kurl...
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...
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.