Wealth First Portfolio Managers will hold its 24th Annual General Meeting on September 24, 2026. The company has submitted its 24th Annual Report for FY26 to the stock exchanges, confirming the meeting details and financial disclosures.

The Board of Directors approved the date and agenda during a meeting on August 28, 2026. The meeting will be conducted via video conferencing at 4:00 pm. The Annual Report, submitted pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, includes the Notice of AGM, Directors' Report, Management Discussion and Analysis, Corporate Governance Report, and Audited Financial Statements for the year ended March 31, 2026.

Key Agenda Items

The AGM notice outlines several critical resolutions for shareholder approval:

• Dividend Approval: Confirmation of three interim dividends of ₹4.00 per share each for FY26 and a proposed final dividend of ₹1.00 per equity share.
• Director Re-appointment: Re-appointment of Ms. Binal Bhukhanwala Gandhi as a Non-Executive and Non-Independent Director.
• Remuneration: Approval for payment of commission to Ms. Gandhi, capped at 1% of net profits.
• Related Party Transaction (RPT): Omnibus approval for transactions with Wealth First Advisors Private Limited up to ₹52.10 crore over three financial years (FY27–FY29).
• Capital Increase: Increase in authorized share capital from ₹11 crore to ₹12 crore by creating 10 lakh additional equity shares.

Dividend and Record Date Details

The record date for determining eligibility for the final dividend is September 17, 2026. If approved, the final dividend will be paid within 30 days of the AGM. Shareholders are advised to update their bank details for Electronic Clearing Service (ECS) payments. Tax Deducted at Source (TDS) provisions under the Income Tax Act, 2025, will apply based on residential status and submitted documentation.

Governance and E-Voting

CS Kunal Sharma has been appointed as the scrutinizer to oversee the voting process. Remote e-voting begins on September 21, 2026, and ends on September 23, 2026. The facility is provided by Bigshare Services Private Limited. Members holding shares in demat mode can vote through their depository accounts or the i-Vote platform.

Related Party Transaction Context

The proposed RPT involves the acquisition of equity shares and transfer of resources from Wealth First Advisors Private Limited, a promoter group company. The transaction value represents 76.19% of the listed entity's annual consolidated turnover for the preceding financial year. The Audit Committee has confirmed the transaction is at arm's length and in the ordinary course of business.

Wealth First Portfolio Managers reported a consolidated net profit of ₹104.2 crore for the quarter ended June 30, 2026 (Q1FY27), marking a year-on-year decline from ₹159.6 crore in the corresponding period of FY26. The drop in earnings was primarily driven by a contraction in revenue from operations, which fell to ₹143.2 crore from ₹248.1 crore in the previous year. This decline was attributed to the conscious reduction of the trading book to nil and the absence of insurance business revenue spillover that had benefited the prior year quarter. The company is currently focused on building new business platforms rather than trading activities.

Q1FY27 financial performance

The company’s board of directors approved the unaudited standalone and consolidated financial results on August 13, 2026. The results were reviewed by statutory auditors Jaimin Deliwala & Co., Chartered Accountants.

While operating revenue declined significantly, other income saw a substantial increase, rising to ₹46.6 crore from just ₹7.3 crore in the prior year quarter. This boost in non-operating income, driven by higher profit booking on investments and mark-to-market gains, helped cushion the impact of lower core business revenues on the bottom line. Total income for the group stood at ₹189.8 crore, compared to ₹248.9 crore a year ago.

Expenses rose to ₹52.5 crore from ₹34.0 crore in the same quarter last year, an increase of approximately 54%. This rise was largely attributable to higher employee benefits expense, which climbed to ₹29.4 crore from ₹19.0 crore, and other expenses, which grew to ₹20.9 crore from ₹14.2 crore. The increase in employee costs reflects continued investment in talent across Wealth First and its group companies, including the AMC and Insurance Broking businesses. Other expenses rose due to ongoing setup and establishment costs associated with these new platforms. Finance costs remained negligible at ₹0.6 million (₹0.06 crore).

Standalone results

On a standalone basis, Wealth First Portfolio Managers reported a net profit of ₹103.4 crore, down from ₹162.3 crore in Q1FY26. Standalone revenue from operations was ₹140.8 crore, compared to ₹248.0 crore a year earlier. Standalone other income was ₹31.2 crore, up sharply from ₹7.3 crore in the prior year.

Standalone total expenses were ₹37.7 crore, up from ₹30.2 crore in the corresponding quarter of FY26. The company’s earnings per share (basic and diluted) stood at ₹9.71 for the quarter, down from ₹15.23 in Q1FY26.

Strategic developments and AUM growth

Managing Director Ashish Shah stated that the quarter marked an important milestone as the company completed key growth engine setups. Key developments included:

• Reducing the trading book to nil to focus on core businesses.
• Expanding footprint to Mumbai through the acquisition of Wealth First Advisors Private Limited (WFA).
• Launching an index-based PMS for US and Canada-based NRI investors.
• Establishing Lakshya Asset Management and Wealthshield Insurance Brokers.

The acquisition of WFA expanded the combined assets under management (AUM) of the Wealth First and WFA platforms to close to ₹9,000 crore. The company aims to grow this platform to around ₹20,000 crore over the next five years. The acquisition also strengthens the advisory and distribution franchise, with the company targeting 1,000 POSPs for its insurance broking business, having already onboarded 30.

Total Assets Under Advisory (AUA) grew 8.6% YoY and 12.3% QoQ to ₹13,647 crore as of June 2026. Trail-based revenue remained resilient, growing 4.4% YoY to ₹12.3 crore. The client franchise also expanded, with client families growing 5% YoY to 6,967 and the overall client base increasing 5% YoY to 21,986. Notably, 80% of clients have been with the company for more than five years, indicating strong stickiness.

What the Numbers Show

The divergence between the sharp decline in operating revenue (-42%) and the surge in other income (+538%) highlights a shift in the composition of total income. While core broking and distribution revenues contracted due to the absence of spillover insurance revenue and trading income present in Q1FY26, significant non-operating gains provided a substantial offset. However, the rise in employee costs alongside falling operational revenue suggests pressure on operating margins, as expenses grew faster than core business activity, driven by investments in new AMC and Insurance Broking businesses. The cost-to-income ratio increased in Q1FY27 primarily due to this dynamic of lower revenue and higher setup-related expenses.