Nuvama Wealth Management Limited has scheduled its 33rd Annual General Meeting for Monday, September 28, 2026. The meeting will commence at 3:30 pm and will be conducted through Video Conferencing or Other Audio-Visual Means in compliance with regulatory guidelines.

Meeting Details

The company notified the stock exchanges on September 1, 2026, regarding the upcoming shareholder meeting. The notice was published in Financial Express (English) and Navshakti (Marathi) newspapers on the same date.

Shareholders can access the notice and annual report via the company’s website at www.nuvama.com . The documents are also available on the BSE and NSE websites, as well as on the MUFG Intime India Private Limited portal.

Participation and Voting

Members can attend the meeting exclusively through the VC/OAVM facility. Attendance via these modes will count toward determining the quorum under Section 103 of the Companies Act, 2013.

The company is providing a remote e-voting facility for all resolutions set out in the AGM notice. Additionally, e-voting will be available during the meeting. Members who have not registered their email addresses can still cast their votes using the remote e-voting system.

Key Dates and Logistics

Members holding shares in physical form or non-individual members acquiring shares after the dispatch of the electronic notice can obtain User ID and Password credentials by contacting the RTA at rt.helpdesk@in.mpm.mufg.com . Existing registered users can utilize their current credentials for voting.

The company requests members to update their email addresses, PAN, nominations, and bank account details with their Depository Participants or the Registrar and Transfer Agent to ensure smooth communication and dividend processing.

Nuvama Wealth Management Limited delivered a record quarterly profit of ₹306 crore in Q1FY27, marking a 16% year-on-year increase from ₹264 crore, while total revenues rose 18% to ₹909 crore. The growth was driven by strong momentum across its wealth management and asset services segments, with client assets surpassing the US $58 billion milestone (₹5.36 lakh crore). This performance underscores the company's expanding market share in India's growing wealth management landscape, supported by robust inflows into managed products and fixed-income solutions. The results reflect a strategic pivot towards high-margin, recurring revenue streams and disciplined cost management.

On July 30, 2026, the Board of Directors approved the unaudited consolidated financial results and several strategic initiatives, including the issuance of Non-Convertible Debentures (NCDs) worth ₹500 crore via private placement. The Board also authorized the acquisition of an additional 26% stake in Pickright Technologies Private Limited for ₹2.08 crore, making it a wholly owned subsidiary, and approved investments of up to ₹100 crore in Nuvama Asset Management Limited (NAML). These proceedings were conducted pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, CRISIL upgraded the company's rating from AA- to AA with a stable outlook, citing financial strength.

Financial Performance

Consolidated operating profit after tax (PAT) stood at ₹306 crore, with a return on equity (RoE) of 29.5%. Total costs increased by 19% to ₹501 crore, comprising ₹371 crore in employee expenses and ₹131 crore in operational expenditures. The cost-to-income ratio improved by 1 percentage point to 55%. Revenue breakdown revealed that Wealth Management contributed 49% of total revenues, growing 19% year-on-year, while Asset Services revenues surged 34% to ₹259 crore. Capital Markets revenues remained relatively flat at ₹182 crore, up just 1% year-on-year.

*Client assets for Q1FY26 derived from YoY growth rate.

Segmental Highlights

The Wealth Management segment saw Nuvama Wealth client assets grow 17% to ₹1.24 lakh crore, with Managed Products & Investment Solutions (MPIS) assets rising 32% to ₹42,795 crore. MPIS revenues grew 20%, contributing 58% to the segment's total. Net new money into MPIS crossed ₹3,000 crore, one of the highest quarters ever. Nuvama Private client assets expanded 10% to ₹2.40 lakh crore, driven by a 21% rise in Assets Under Recurring Revenue (ARR). In Asset Management, NAML's AUM grew 12% to ₹13,261 crore, with management fees rising 24% to ₹22 crore. The firm achieved the final close of its PRIME fund (Commercial Real Estate Strategy) at ₹4,000 crore.

Asset Services, a recurring revenue driver, saw assets under clearing and custody grow 25% to ₹1.59 lakh crore. Capital Markets showed mixed results; while equity activity remained selective, Fixed Income revenues more than doubled due to favorable market conditions and robust buy-sell flows. However, management noted that approximately ₹15–₹20 crore of this fixed income revenue may not be repeatable in subsequent quarters due to specific tax-driven FPI activity in June 2026.

Strategic Developments

Ashish Kehair, Managing Director & CEO, highlighted the company's focus on disciplined capital management and organic growth. The acquisition of Pickright Technologies aims to consolidate the technology ecosystem, enhancing data analytics and client engagement. The investment in NAML supports expansion in asset management capabilities, particularly following SEBI's approval for its mutual fund license in June 2026. The Board also re-appointed Birendra Kumar as Chairperson and Anisha Motwani as Independent Director for three-year terms effective July 22, 2027.

What the Numbers Show

The divergence between the flat Capital Markets revenue and the surging Asset Services and Wealth Management revenues indicates a structural shift towards fee-based, recurring income streams. While Capital Markets remains sensitive to market volatility, the high growth in MPIS and ARR assets suggests deepening client relationships and successful product penetration. The improvement in RoE to 29.5% despite rising employee costs reflects operational leverage gained through technology investments and productivity initiatives. Furthermore, the upgrade in credit rating signals strengthening balance sheet fundamentals, providing headroom for future capital deployment and potential acquisitions.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE531F01023/73e821d8-e539-4d1e-bce6-e36452a7d0ce.pdf