Wealth First Portfolio Managers is a B2C wealth advisory that serves retail investors through a team of relationship managers, with no sales targets for RMs and a 100% retail-first model. Its core business is portfolio management and mutual fund distribution, earning trail-based fees on Assets Under Administration (AUA) of ₹12,157 cr as of FY26 spread across 6,889 client families and 21,746 total clients. The AUA mix as of FY25 included bonds of ₹3,741 cr, equity of ₹2,224 cr, and insurance of ₹60 cr, with roughly 80% from retail and 20% from institutional accounts. Core business activity revenue was 97% of total revenue in FY25, while the remaining ~3% came from treasury trading, which has since been wound down to nil. The cost structure is dominated by employee costs at 17.3% of revenue, other operating expenses at 10.5%, and depreciation of 0.6%, reflecting an asset-light, RM-driven model. The firm recently received SEBI approval to operate its own mutual fund AMC branded 'Lakshya' and an IRDAI licence for direct insurance broking under 'Wealthshield', and is in the process of acquiring a 51% stake in Wealth First Advisors (WFAPL), which holds ₹3,746 cr of AUA and 2,800+ client families, to expand distribution reach. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Portfolio management & advisory fees (97%), Treasury trading. Asset-light, fee-based B2C wealth advisory with growing mutual fund and insurance broking operations
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 29 | 54 | 53 | 68 |
| EBITDA (ex other income) | 19 | 43 | 39 | 49 |
| margin % | 65.4 | 79.5 | 72.7 | 72.2 |
| Owners' profit | 0 | 0 | 0 | 39 |
| EPS, as reported (₹) | 12.98 | 40.06 | 32.05 | 36.29 |
| ROE % · ROCE % | 18.5 · 24.2 | 36.1 · 46.6 | 26.6 · 35.0 | 22.5 · 30.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 20 | 16 | 10 | 75 |
| Capex | (0) | (0) | (0) | (2) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 20 | 16 | (3) | 25 | 21 | 6 | 17 | 14 |
| Profit before tax | 19 | 12 | (5) | 21 | 15 | 1 | 14 | 14 |
| Net profit | 15 | 9 | (4) | 16 | 11 | 1 | 10 | 10 |
| EPS (₹) | 14.23 | 8.70 | (4.03) | 14.98 | 10.39 | 1.05 | 9.87 | 9.69 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 34,342 | 38.9 | 10.50 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,526 | 19.6 | 4.12 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,359 | — | 2.80 | 41.8 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 1,077 | — | 0.82 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Analyst/Investor meeting scheduled for 17 September 2026 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Newspaper ad published for 24th AGM, e-voting and record date details | compliance | minimal | — | — |
| 2 Sept 2026 · Notice of 24th AGM on 24 Sept 2026, Final Dividend and E-Voting Info | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Record date fixed at 17 Sep 2026 for final dividend, 24th AGM on 24 Sep 2026 | corporate actions | high | — | — |
| 29 Aug 2026 · Newspaper notice for 24th AGM to be held via video conferencing on 24 September | compliance | minimal | — | — |
| 28 Aug 2026 · Board approves 24th AGM for September 24, 2026 | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Wealth First Portfolio Managers publishes Q1 FY26 results in newspapers | compliance | minimal | — | — |
| 14 Aug 2026 · Revised Investor Presentation for Q1 FY27 results | investor communications | medium | — | — |
| 13 Aug 2026 · Wealth First Q1 FY27 Investor Presentation: AUM Rs 13,647 Cr, WFA acquisition | investor communications | medium | — | — |
| 13 Aug 2026 · Wealth First Q1 FY27 Results: Standalone PAT falls 24.5% YoY to Rs 10.34 cr | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| PRIME SECURITIES LIMITED |
| 961 |
| 171.5 |
| 3.75 |
| 87.4 |
| 5.1 |
| — |
| 25.7 |
| 19.0 |
| WEALTH FRST PORT. MG. LTD ◆ | 900 | 27.3 | 5.29 | 17.3 | 22.5 | 30.3 | — | 97.5 |
| STELLANT SECURITIES (INDIA) LT | 559 | — | 1784.58 | — | 18.2 | 18.2 | — | 56.7 |
| THE INVEST TRUST OF IND L | 511 | 15.3 | 0.70 | 7.1 | 4.7 | 3.9 | (2.4) | 23.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 27.3 | 17.9 | 63 of 95 | 34% |
| P/B | 5.3 | 1.2 | 92 of 101 | 9% |
| ROCE | 30.3 | 1.6 | 5 of 84 | 95% |
| ROE | 22.5 | 1.3 | 6 of 115 | 96% |
| Debt / Equity | 0.0 | 0.0 | 4 of 115 | 37% |
| EBITDA margin | 97.5 | 25.6 | 17 of 91 | 82% |
| Revenue growth | (42.3) | (4.1) | 62 of 85 | 27% |
| Profit growth | (34.7) | (0.2) | 68 of 109 | 38% |
| Market cap | 900 | 28 | 6 of 109 | 95% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
