Members of Nuvama Wealth Management Limited have approved all five special resolutions put to vote through the postal ballot remote e-voting process, which concluded on August 1, 2026. The Scrutinizer's Report, prepared by Nilesh Shah & Associates, Practicing Company Secretaries, confirmed that each resolution secured the requisite majority and was deemed passed on August 1, 2026—the last day of remote e-voting. The voting period commenced on Friday, July 3, 2026, at 9:00 a.m. (IST) and concluded on Saturday, August 1, 2026, at 5:00 p.m. (IST).

Resolutions Approved by Shareholders

The Board of Directors had approved the postal ballot process at its meeting held on Monday, June 29, 2026, and dispatched the Postal Ballot Notice of the same date to members. The total number of shareholders on the record date of June 25, 2026 was 1,19,504. The five special resolutions put to vote are summarised below:

Detailed Voting Results

All voting was conducted exclusively through remote e-voting on the platform provided by MUFG Intime India Private Limited. The promoter and promoter group, holding 98536725 shares, cast 100.0000% of their votes in favour of all five resolutions. The following table presents the consolidated voting outcome for each resolution:

Category-Wise Voting Breakdown

Across all resolutions, the public institutional shareholders held 50149139 shares and polled 45653509 votes, representing 91.0355% of their outstanding shares. Public non-institutional shareholders held 33842952 shares and polled approximately 14446139 to 14446144 votes, representing 42.6858% of their outstanding shares. The promoter and promoter group voted entirely in favour of all resolutions, with zero votes against.

For Resolution 5 (remuneration revision for Mr. Shiv Sehgal), public institutional shareholders recorded 67.4584% votes in favour and 32.5416% against—the highest level of dissent among all resolutions in this category.

Scrutinizer's Findings

Nilesh Shah & Associates confirmed that the postal ballot voting process was conducted in a fair and transparent manner. Key procedural highlights include:

• The e-voting module was disabled after 5:00 p.m. (IST) on August 1, 2026
• Electronic votes were unblocked in the presence of two witnesses not in the employment of the company
• No votes were declared invalid or rejected for any of the five resolutions
• Abstain votes for Resolutions 1, 2, and 3 totalled 404 votes (4 members); for Resolutions 4 and 5, abstain votes totalled 399 votes (3 members)

The Scrutinizer recommended that all five resolutions be considered as passed with the requisite majority. The voting results along with the Scrutinizer's Report are available on the company's website at www.nuvama.com and on the MUFG Intime India Private Limited website.

Nuvama Wealth Management Limited delivered its highest-ever quarterly profit of ₹306 crore in Q1FY27, marking a 16% year-on-year increase from ₹264 crore, as total revenues rose 18% to ₹909 crore. The growth was fueled by strong momentum across its wealth management and asset services segments, with client assets surpassing the ₹5 lakh crore milestone to reach ₹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.

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.

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. 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.

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.