AI-generated · cited to primary sources · not investment advice
Nuvama Wealth (543988) Aug 2025 Filing Analysis
Does management do what it says?
Management reported that Q3 float balances have already exceeded Q1 levels (pre-client loss) and expects Q4 earnings to be at par with Q1, indicating a full recovery of the revenue base. (1 met across 1 tracked commitment)
“we should be more around 1.95% to maybe 2.3%-2.4% range over a period of time. That is point number one. So, yield on a steady-state basis in line with market interest rates should be in this range.”
See the full cited Management analysis of Nuvama Wealth
What could break the thesis?
The risk is stable. Employee costs grew 13% YoY, matching the overall cost growth rate. However, the company continues to aggressively hire, aiming to double RM capacity in 3-5 years. (1 stable)
“Double RM capacity in 3-5 years... Employee costs: ₹ 316 Cr in Q1, grew by 13% YoY”
See the full cited Risk analysis of Nuvama Wealth
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