Nuvama Wealth Management Limited (IN:NUVAMA)
:NUVAMA
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Nuvama Wealth Management Limited
(NUVAMA)
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Rating:67Neutral
Price Target:
₹1,603.00
▲(32.90% Upside)
Action:Downgraded
Date:05/15/26
The score is driven primarily by improved financial performance in FY2026 (strong growth and a sharp cash-flow rebound) but is held back by high leverage and historical cash-flow volatility. Technicals are a key positive with price above major moving averages and strong momentum, while valuation appears reasonable with a modest dividend yield.
Positive Factors
Revenue and profitability rebound
A sharp revenue acceleration and healthy net margin in FY2026 indicate the firm regained growth momentum and improved operating leverage. Sustained top-line expansion with strong margins supports durable cash generation and reinvestment capacity across wealth and capital-markets franchises over the next several quarters.
Negative Factors
Elevated leverage
Leverage rising materially to ~2.8x reduces balance-sheet flexibility and raises refinancing and interest-rate risk. High debt limits the firm's ability to absorb market shocks or invest countercyclically, making performance and strategic initiatives more sensitive to earnings volatility in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profitability rebound
A sharp revenue acceleration and healthy net margin in FY2026 indicate the firm regained growth momentum and improved operating leverage. Sustained top-line expansion with strong margins supports durable cash generation and reinvestment capacity across wealth and capital-markets franchises over the next several quarters.
Read all positive factors
Nuvama Wealth Management Limited (NUVAMA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹272.73B
Dividend Yield1.91%
Average Volume (3M)7.28K
Price to Earnings (P/E)20.3
Beta (1Y)1.97
Revenue Growth11.52%
EPS Growth3.85%
CountryIN
Employees3,104
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)57.13
Shares Outstanding182,179,610
10 Day Avg. Volume7,550
30 Day Avg. Volume7,282
Financial Highlights & Ratios
PEG Ratio4.47
Price to Book (P/B)5.13
Price to Sales (P/S)4.54
P/FCF Ratio10.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,840.00Price Target Upside52.55% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)66.14
Revenue Forecast (FY)₹35.47B
Nuvama Wealth Management Limited Business Overview & Revenue Model
Company Description
Nuvama Wealth Management Limited engages in wealth management, asset management, and capital markets businesses in India. The company provides debt advisory and clearing services; and portfolio management and investment advisory services. It is al...
How the Company Makes Money
NUVAMA primarily earns revenue by providing wealth and investment services to clients and by operating market-linked financial businesses. Key revenue streams typically include: (1) Fees and commissions from wealth management and product distribut...
Nuvama Wealth Management Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.61B | 46.50B | 21.40B | 17.38B | 13.23B | 15.65B |
| Gross Profit | 11.35B | 30.89B | 7.53B | 6.38B | 4.13B | 15.65B |
| EBITDA | 20.96B | 19.35B | 21.93B | 15.32B | 8.74B | 6.35B |
| Net Income | 10.26B | 10.41B | 9.86B | 6.25B | 3.05B | 8.57B |
Balance Sheet | ||||||
| Total Assets | 242.56B | 344.91B | 283.88B | 203.87B | 127.16B | 105.98B |
| Cash, Cash Equivalents and Short-Term Investments | 140.10B | 219.71B | 220.96B | 139.24B | 66.33B | 10.00B |
| Total Debt | 89.75B | 115.44B | 78.39B | 67.46B | 53.98B | 16.59B |
| Total Liabilities | 204.64B | 303.68B | 248.95B | 174.88B | 104.57B | 86.85B |
| Stockholders Equity | 37.90B | 41.21B | 34.90B | 28.95B | 22.54B | 19.13B |
Cash Flow | ||||||
| Free Cash Flow | -10.58B | 20.07B | -4.04B | -17.39B | -19.44B | -14.77B |
| Operating Cash Flow | -10.54B | 20.35B | -3.71B | -16.58B | -18.65B | -14.25B |
| Investing Cash Flow | -1.03B | -34.89B | -652.20M | -797.75M | -1.77B | -821.79M |
| Financing Cash Flow | 8.63B | 31.81B | 6.01B | 13.16B | 18.25B | 21.39B |
Nuvama Wealth Management Limited Technical Analysis
Positive
1206.15
Price Trends
1308.52
Positive
1330.25
Positive
1348.69
Positive
Market Momentum
48.18
Positive
58.45
Neutral
32.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NUVAMA, the sentiment is Positive. The current price of 1206.15 is below the 20-day moving average (MA) of 1436.73, below the 50-day MA of 1308.52, and below the 200-day MA of 1348.69, indicating a bullish trend. The MACD of 48.18 indicates Positive momentum. The RSI at 58.45 is Neutral, neither overbought nor oversold. The STOCH value of 32.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NUVAMA.
Nuvama Wealth Management Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ₹1.17T | 38.11 | ― | 0.83% | 13.84% | 15.97% | |
81 Outperform | ₹294.04B | 33.89 | ― | 3.09% | 3.71% | 4.64% | |
77 Outperform | ₹688.59B | 33.18 | ― | 2.14% | 16.36% | 18.30% | |
71 Outperform | ₹298.32B | 60.90 | ― | 0.43% | 27.81% | 32.09% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | ₹272.73B | 20.30 | ― | 1.91% | 11.52% | 3.85% | |
60 Neutral | ₹451.60B | 33.34 | ― | 1.02% | 21.60% | 11.09% |
* Financial Sector Average
IN:NUVAMA
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52.28%
Nuvama Wealth Management Limited Corporate Events
Nuvama clears FY26 results and declares interim dividend
May 11, 2026
Nuvama Wealth Management Limited’s board has approved the consolidated and standalone audited financial results for the quarter and financial year ended 31 March 2026, signaling completion of its annual reporting cycle. The audited results, ...
Nuvama Subsidiary Fined by NSE for Client-Related Compliance Lapses
Mar 2, 2026
Nuvama Wealth and Investment Limited, a wholly owned subsidiary of Nuvama Wealth Management, has been penalized Rs 1,00,000 by the National Stock Exchange of India following a limited purpose inspection tied to client-related processes and complai...
Nuvama Subsidiary Gets NSE Warning Letter With No Financial Impact
Feb 21, 2026
Nuvama Wealth Management Limited has disclosed that its wholly owned subsidiary, Nuvama Wealth and Investment Limited, received a warning letter from the National Stock Exchange of India. The communication followed a limited purpose inspection con...
ICRA Upgrades Nuvama Wealth Ratings, Affirms Top Short-Term Grades Across Group
Feb 20, 2026
Nuvama Wealth Management Limited announced that rating agency ICRA has upgraded the company’s issuer rating and its long-term bank facilities to [ICRA]AA with a stable outlook from [ICRA]AA- with a positive outlook, while reaffirming its top...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.