Emkay Global Financial Services Limited – Investor Presentation Summary

Key Operational Highlights

  • Consolidated revenue reached ₹1,567 million in Q2 FY27, representing 103% year-on-year growth
  • Consolidated Profit After Tax (PAT) was ₹310 million, up 6,100% year-on-year
  • PMS and AIF Assets Under Management grew by over 64% year-on-year to ₹25,624 million
  • Wealth AUM reached ₹199,782 million as of 30 September 2026, representing 9% year-on-year growth
  • Investment Banking executed seven transactions across IPOs, QIPs, and an offer for sale (OFS)
  • The business expanded geographically with the addition of Bhopal to its network

Key drivers of operational performance:

Strong performance across all business verticals, particularly Investment Banking with seven capital market transactions, sustained growth in Asset Management with all nine strategies outperforming benchmarks, and geographic expansion in Wealth Management.

Segment-wise Performance

  • Investment Banking: Executed 7 transactions including 3 IPOs (₹12,613.36 million), 2 QIPs (₹140,000 million), 1 Offer for Sale (₹30,448.80 million), and 1 IPO Advisory & Syndicate Mandate (₹6,800 million)
  • Asset Management: All nine investment strategies outperformed their respective benchmarks during the quarter
  • Wealth Management: Advisory revenue expanded 33% YoY to ₹143 million; Transactional revenue expanded 22% YoY

Explanation of significant changes in segment performance:

The record performance was driven by strong execution across all business verticals, with Investment Banking benefiting from active primary markets, Asset Management seeing continued investor inflows, and Wealth Management expanding through client engagement initiatives and geographic reach.

Financial Highlights

Revenue: ₹1,567 million

EBITDA: Not explicitly stated in presentation

PAT: ₹310 million

EPS: Not explicitly calculated in presentation

Margins: Not explicitly stated in presentation

YoY/QoQ comparison: Revenue grew 103% YoY and 62% QoQ; PAT grew 6,100% YoY and 289% QoQ

Drivers of financial performance: Higher revenue growth across business verticals, particularly strong Investment Banking activity and Asset Management AUM growth

Comparison to market estimates: Not specified

Key Risks: Market volatility, competitive pressures, regulatory developments, and cost considerations mentioned as ongoing challenges

Geographical Revenue Split

Domestic vs Export/Regional Revenue: Not specified

Regional Breakdown: Not specified

Balance Sheet Snapshot

Net Debt/Equity: Not specified

Reserves: Not specified

Current Assets/Liabilities: Not specified

Working Capital/Leverage Metrics: Not specified

Financial Health Insights: Not specified

Capex & Cash Flow Health

Capital Expenditure: Not specified

Free Cash Flow: Not specified

Operating Cash Flow: Not specified

Net Debt Movement: Not specified

Investment Rationale: Continued investment in digital transformation, AI-led initiatives, and platform modernization across broking, wealth management, research, and operational functions

Strategic & R&D Initiatives

Investments in Innovation: Technology transformation including AI-led engagement, data & analytics foundation, platform modernization, digital onboarding & CRM, operational excellence, infrastructure scalability, and cybersecurity & governance

Expected impact on growth: Focus on improving execution capabilities, client experience, process efficiency, scalability, and cybersecurity resilience

Strategic Rationale: Enhancing digital capabilities to support business growth and client service delivery

Industry Trends & Business Environment

Macro/Industry Trends: Challenging environment for Indian equity markets with benchmark indices weighed down by persistent FPI outflows, global interest rate uncertainty, geopolitical developments, and delays in trade negotiations; Domestic investor participation remained resilient supported by sustained SIP inflows and primary market activity

Impact on Company: Despite near-term uncertainties, the company delivered its strongest-ever quarterly financial performance, reflecting the strength of its diversified business model

Management Commentary & Growth Outlook

Strategic Outlook: "We remain confident in the growth prospects across our business verticals, notwithstanding the challenging economic environment marked by global uncertainties, elevated crude oil prices, and rising interest rates."

FY Guidance: Not specified

Market Share Targets: Not specified

Risks and Opportunities: Market volatility, competitive pressures, regulatory developments, and cost considerations will continue to shape the operating environment

Additional Business Highlights

  • Emkay Confluence 2026: Flagship three-day conference in August with over 200 companies and more than 1,000 clients, facilitating over 7,500 meetings
  • Talent Acquisition: 33 hires in Q2 across functions including Senior Analyst, Sales & Regional Head; new branding team onboarded with 4 professionals
  • Employer Brand: AmbitionBox rating reached 4.0 in Q2 FY27, showing consistent year-on-year upward trajectory
  • Institutional Equities: 251 stocks under coverage; 503 research reports released; 37 corporate & expert client calls; 13 roadshows; 7 coverages initiated; 25 group calls/events/conferences