EMKAYNSE18 May 2026

Emkay Global Financial Services Limited

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Key numbers — 40 extracted
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EARNINGS PRESENTATION 1 Q4 FY 26 Dear Investors, Greetings! The past financial year tested both markets and conviction. Global trade disruptions, le
₹41,781.5 million
Banking, we remained selective and execution-focused, completing five ECM transactions aggregating ₹41,781.5 million. Rather than pursuing scale for its own sake, we prioritised transactions where our sector underst
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ntinued trust and support. Warm Regards, Krishna Kumar Karwa & Prakash Kacholia Managing Directors 3 Q 4 FY 26 Investor Insights: Addressing Your Key Questions 4 Q 4 FY 26 CAPITAL MARKETS How
₹41,782 million
iness. We completed five transactions during the year with an aggregate deal size of approximately ₹41,782 million. The year included two IPO mandates — Innovision Limited (₹3,192.52 million), where we acted as Sol
₹3,192.52 million
al size of approximately ₹41,782 million. The year included two IPO mandates — Innovision Limited (₹3,192.52 million), where we acted as Sole Merchant Banker, and Amirchand Jagdish Kumar Exports Limited (₹4,530 mill
₹4,530 million
.52 million), where we acted as Sole Merchant Banker, and Amirchand Jagdish Kumar Exports Limited (₹4,530 million). We also executed two QIPs: Anant Raj Limited (₹11,000 million) and Indian Renewable Energy Develo
₹11,000 million
hand Jagdish Kumar Exports Limited (₹4,530 million). We also executed two QIPs: Anant Raj Limited (₹11,000 million) and Indian Renewable Energy Development Agency Limited (₹20,058.98 million). In addition, we mana
₹20,058.98 million
o QIPs: Anant Raj Limited (₹11,000 million) and Indian Renewable Energy Development Agency Limited (₹20,058.98 million). In addition, we managed the ₹3,000 million buyback for Eclerx Limited. Overall, the year helped
₹3,000 million
dian Renewable Energy Development Agency Limited (₹20,058.98 million). In addition, we managed the ₹3,000 million buyback for Eclerx Limited. Overall, the year helped strengthen our visibility across IPO and QIP t
₹500 million
ransactions carrying over from the previous year. At present, the visible revenue pipeline is above ₹500 million. In terms of size, it is not very different from where things stood at the same point last year. T
30%
PMS and AIF platforms? 2025-26 was a strong year for us on the growth front. Our overall AUM grew ~30%, crossing ₹15,500 million mark — a milestone we're pleased to have reached. Within this, our PMS p
₹15,500 million
atforms? 2025-26 was a strong year for us on the growth front. Our overall AUM grew ~30%, crossing ₹15,500 million mark — a milestone we're pleased to have reached. Within this, our PMS platform led the growth, ex
Guidance — 9 items
Investor Insights
opening
“The recent geopolitical tension in the Middle East added another layer of uncertainty, and a clear resolution will be important for sentiment to improve.”
Investor Insights
opening
“6 Q 4 FY 26 CAPITAL MARKETS What risks—global liquidity, currency volatility, or domestic valuations—could impact deal activity going forward?”
Investor Insights
opening
“Alongside this, we plan to further strengthen our MFDs and National Distributor relationships, which have been the backbone of our distribution growth.”
Investor Insights
opening
“What new product areas or asset classes are you evaluating going forward We are continuously evaluating new product opportunities and asset classes, although it would be premature to discuss specifics at this stage.”
Investor Insights
opening
“As these teams mature and relationships strengthen over the next 3–4 quarters, we expect a more meaningful contribution to both flows and client additions.”
Investor Insights
opening
“Our key focus in 2026-27 will be on expanding the wealth franchise in a measured and scalable manner.”
Investor Insights
opening
“A large part of that effort will be directed towards strengthening our presence in Tier-2 and Tier-3 markets, where we continue to see a growing pool of affluent investors and increasing demand for structured wealth solutions.”
Investor Insights
opening
“The Wealth Management business faced a relatively challenging environment during FY26, with some pressure on both Assets Under Management and overall revenues compared to the previous year.”
Investor Insights
opening
“In particular, such statements should not be regarded as a projection of future performance of EGFSL.”
Risks & concerns — 15 flagged
The year saw capital market activity remain softer than we had expected, with the slowdown more visible in SMID names toward the latter part of the year.
— Investor Insights
Sector performance during the year was largely shaped by earnings visibility and resilience amid a difficult macro environment.
— Investor Insights
Banks and financials, despite relatively healthy fundamentals, remained under pressure due to persistent FII selling and elevated foreign ownership levels.
— Investor Insights
Within manufacturing, EMS companies faced some pressure as sharp increases in memory chip prices pushed up end-product costs and impacted demand.
— Investor Insights
Any prolonged uncertainty could keep crude oil prices elevated, impacting risk sentiment, FII flows, and overall market activity.
— Investor Insights
The biggest near-term risk remains the geopolitical situation in the Middle East.
— Investor Insights
Any sharp escalation could lead to higher crude oil prices, weaker risk sentiment, and renewed FII outflows, which typically impacts both primary market activity and secondary market liquidity.
— Investor Insights
As a result, valuations are no longer the same level of concern they were earlier.
— Investor Insights
From a strategy perspective, the bulk of inflows were directed toward Emkay SMIDCap Growth, Emkay Golden Decade, and Emkay Capital Builder — spanning both our newer and more established offerings, which suggests our product shelf is resonating across different investor preferences and risk appetites.
— Investor Insights
Any new offering we consider will remain aligned with the investment approach that has guided us so far — strong research orientation, clearly defined risk frameworks, and a focus on long-term wealth creation.
— Investor Insights
The Wealth Management business faced a relatively challenging environment during FY26, with some pressure on both Assets Under Management and overall revenues compared to the previous year.
— Investor Insights
Global uncertainties and volatile market conditions impacted investor sentiment through much of the year, resulting in softer mark-to-market performance and slower inflows, particularly within the direct equity segment.
— Investor Insights
Overall, while the year was not without challenges, client engagement remained steady and the broader franchise continued to hold up well in a difficult market environment.
— Investor Insights
How has investor behaviour evolved in terms of risk appetite, holding periods, and diversification?
— Investor Insights
At the same time, risk appetite within alternative and private market opportunities has strengthened.
— Investor Insights
Speaking time
Investor Insights
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Valorem Advisors Disclaimer
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Opening remarks
Investor Insights
Addressing Your Key Questions 4 Q 4 FY 26 CAPITAL MARKETS How would you summarise 2025-26 in terms of overall capital market activity versus your initial expectations? The year saw capital market activity remain softer than we had expected, with the slowdown more visible in SMID names toward the latter part of the year. However, it was not entirely surprising, given the strong post-pandemic run-up; markets often take a breather after such a period of outperformance. The recent geopolitical tension in the Middle East added another layer of uncertainty, and a clear resolution will be important for sentiment to improve. Which sectors drove the bulk of capital market activity in 2025-26? Sector performance during the year was largely shaped by earnings visibility and resilience amid a difficult macro environment. Broadly, it was a challenging year across sectors. Information Technology saw one of the sharper corrections, as global investor flows remained heavily skewed towards large AI-lin
Valorem Advisors Disclaimer
Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review. For further details, please feel free to contact our Investor Relations Representatives: Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903 9500 Email: e
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