Wealth First Portfolio Managers Ltd. (WEALTH) AI Stock Analysis

• Market Cap: ₹8.97B
• Dividend Yield: 1.69%
• Average Volume (3M): 2.97K
• Price to Earnings (P/E): 25.9
• Beta (1Y): 0.52
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 73
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 13.37
• Shares Outstanding: 10,655,000
• 10 Day Avg. Volume: 2,051
• 30 Day Avg. Volume: 2,974
• PEG Ratio: -1.41
• Price to Book (P/B): 7.52
• Price to Sales (P/S): 0.49
• P/FCF Ratio: 92.81
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: ₹881.00 ▼(-4.18% Downside)

The score is driven primarily by solid financial fundamentals—especially a very low-debt balance sheet and generally good cash conversion—tempered by meaningful income statement margin volatility. Technicals are a key offset, with the stock below major moving averages and negative momentum indicators. Valuation is moderately pressured by a higher P/E, only partly supported by a ~1.73% dividend yield.

Positive Factors

Conservative balance sheet (minimal debt)

Essentially zero reported debt and steadily growing equity/assets lower financial and refinancing risk, giving the firm durable resilience in downturns. This conservative capital structure preserves optionality for investments, acquisitions, or shareholder returns without balance sheet strain.

Strong cash conversion and positive FCF

FCF that reliably tracks net income supports sustainable internal funding for growth, dividends and capital allocation. High cash conversion reduces reliance on external financing and provides a durable buffer for reinvestment and capital return policies across business cycles.

Solid top-line growth and healthy ROE

Robust revenue growth paired with mid-to-high-teens ROE indicates an efficient, scalable business model and effective capital deployment. Sustained top-line expansion and respectable ROE are durable fundamentals that support long-term profitability and competitive positioning.

Negative Factors

Income statement margin volatility

Large, recurring margin swings undermine earnings predictability and make cash flow forecasting difficult. Margin compression in 2025 signals cost or pricing pressures that can persist, weakening sustainable profitability and complicating long-term capital allocation and investor confidence.

Variable free cash flow; historical weak year

Although cash conversion is generally good, intermittent negative FCF and recent declines show operational sensitivity to shocks. This variability raises the risk that the company may need external funding or curtail spending in adverse conditions, limiting strategic flexibility over the medium term.

Recent negative EPS growth

A significant drop in EPS signals underlying volatility in earnings power and reduces visibility into sustainable profitability. Persistent or recurring EPS declines can impair ability to invest, pay dividends, or fund growth, and suggest earnings quality or margin sustainability issues over the medium term.

Wealth First Portfolio Managers Ltd. Business Overview & Revenue Model

Company Description

Wealth First Portfolio Managers Limited provides financial assets investment management solutions in India. The company offers portfolio management, mutual fund distribution, and depository participant services. It also provides demat services and share and stock broking services. Its products include fixed deposits, treasury bonds, taxable and tax free bonds, direct equity, government securities, mutual funds, PMS, and pension and insurance products. In addition, it offers investment strategy, asset research and allocation, tax and retirement planning, treasury management, risk management, and broking services. Wealth First Portfolio Managers Limited was founded in 1990 and is headquartered in Ahmedabad, India.

How the Company Makes Money

Wealth First Portfolio Managers Ltd. Financial Statement Overview

Summary

Strong balance sheet with essentially no debt and steadily growing equity/assets supports lower financial risk. Cash conversion is generally good with positive operating/free cash flow in most years and FCF closely tracking net income, though cash flow has been variable and had a weak year historically. The main drag is income statement volatility: large margin swings and a notable margin compression in 2025 reduce confidence in earnings durability despite strong 2025 revenue growth (+19.7%).

Income Statement

Revenue growth is strong in the latest year (2025 annual: +19.7%), showing solid top-line momentum. However, profitability looks volatile: margins swing dramatically across years (e.g., very high margins in 2022–2024 versus very thin margins in 2020–2021 and again in 2025), which raises questions about earnings quality and sustainability. Net income remains positive and sizable in 2025, but the sharp compression in reported margins versus 2024 is a key watch item.

Balance Sheet

The balance sheet is conservatively positioned with essentially no debt across the period (total debt reported at zero in 2024–2025 and minimal in other years), which meaningfully lowers financial risk. Equity and assets have grown steadily over time, supporting a stronger capital base. Returns on equity are healthy (roughly ~18% to ~36% historically, ~26.6% in 2025), though the step down from 2024 levels suggests profitability may be normalizing.

Cash Flow

Cash generation is generally solid: operating cash flow and free cash flow are positive in most years and free cash flow closely tracks net income (around ~95%–99% in multiple years, ~97% in 2025), indicating good cash conversion. That said, there was a notable weak year in 2020 with negative operating and free cash flow, and free cash flow has shown some declines (e.g., down in 2023 and 2024 versus prior-year levels), pointing to variability rather than a consistently rising cash profile.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.25B	19.57B	8.47B	3.90B	14.80B	8.25B
Gross Profit	477.68M	275.25M	125.52M	305.63M	259.76M	189.29M
EBITDA	482.15M	455.49M	557.97M	191.69M	250.80M	184.86M
Net Income	360.91M	341.45M	426.81M	138.33M	188.51M	128.75M
Balance Sheet
Total Assets	0.00	1.36B	1.25B	802.86M	716.96M	541.58M
Cash, Cash Equivalents and Short-Term Investments	0.00	28.31M	48.02M	25.70M	54.40M	19.73M
Total Debt	0.00	0.00	0.00	356.79K	18.68M	540.00
Total Liabilities	-1.29B	76.80M	65.76M	36.32M	61.00M	79.28M
Stockholders Equity	1.29B	1.29B	1.18B	766.53M	655.96M	462.30M
Cash Flow
Free Cash Flow	0.00	104.08M	152.16M	202.54M	198.02M	60.80M
Operating Cash Flow	0.00	107.25M	155.11M	204.17M	209.49M	61.89M
Investing Cash Flow	0.00	80.82M	-95.82M	-189.47M	-176.49M	-23.80M
Financing Cash Flow	0.00	-209.01M	-36.97M	-43.39M	5.72M	-34.98M

Wealth First Portfolio Managers Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CAPITALSFB	72 Outperform	₹11.67B	8.59	―	1.97%	13.76%	11.77%
SMCGLOBAL	70 Outperform	₹16.13B	16.50	―	0.70%	-5.03%	-54.73%
5PAISA	68 Neutral	₹10.79B	23.70	―	―	-25.11%	-24.87%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
WEALTH	66 Neutral	₹8.97B	25.89	―	1.69%	―	―
SURYODAY	57 Neutral	₹14.73B	20.86	―	―	―	―
CENTRUM	39 Underperform	₹11.27B	-7.56	―	―	47.88%	11.61%