Nuvama Wealth Management Limited has informed the Exchange regarding 'Incorporation of wholly owned subsidiaries of the Company'.
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Nuvama Wealth Management's board, meeting on August 13, 2025, approved Q1 FY26 (quarter ended June 30, 2025) financial results along with the incorporation of new wholly owned subsidiaries in India and the UAE. On a consolidated basis, total income rose to Rs 1,124.61 crore from Rs 952.68 crore a year earlier, while net profit grew to Rs 263.87 crore from Rs 220.77 crore, with basic EPS at Rs 73.36 versus Rs 62.51. Segment-wise, capital markets contributed the largest profit before tax at Rs 227.38 crore, followed by wealth management at Rs 118.34 crore and asset management at Rs 1.88 crore. The company also updated its Code of Fair Disclosure under SEBI's insider trading rules. The auditor's review report flagged a pending Supreme Court matter involving subsidiary Nuvama Clearing Services (NCSL) over the old Anugrah and V-Rise collateral liquidation disputes of Rs 460.32 crore and Rs 22.27 crore, though management considers no adjustment necessary.
Strong year-on-year growth in both income and profit reflects healthy momentum in wealth and capital markets businesses, likely to be viewed positively by investors. The new subsidiaries signal geographic and business expansion plans, though the ongoing legal overhang from the NCSL clearing matter remains a watchable risk.