Emkay Global Financial Services Limited · NSE:EMKAY
Emkay Global Financial Services — Q2 FY27 Earnings Presentation
37 slides from Emkay Global Financial Services's earnings presentation, Sep 30, 2026
Slide 1: Earnings Presentation Q2 FY27
EARNINGS Your success PRESENTATION is our success A 30- year legac y in c apital m ark ets for the quart er ended 30th September 2026 Emkay Global Financial Services Limited Q2 Capital Markets | Asset Management | W ealth Management FY27 www.emkayglobal.com
Slide 2: Dear Investors
Dear Investors, Our Institutional Equities franchise continued to deepen investor engagement through Greetings! Emkay Confluence 2026, our flagship three-day conference held in August. The event brought together over 200 companies and more than 1,000 clients, including funds and The second quarter o
Slide 3: Investor Insights: Addressing Your Key Questions
INVESTOR INSIGHTS Addressing Your Key Questions Q2 | FY27 3
Slide 4: Capital Markets
CAPITAL MARKETS How has capital market activity evolved in Q2 FY27, particularly across Are mid- and small-cap companies seeing a broader improvement cash, derivatives and primary markets? in investor demand for issuances? Capital market activity in Q2 FY27 presented a mixed picture, driven by Mid-
Slide 5: Asset Management
ASSET MANAGEMENT Which PMS and AIF strategies attracted the strongest inflows during How has the contribution from MFDs, National Distributors and the quarter, and has the contribution broadened beyond Emkay banking partners evolved, and are these channels translating into a Capital Builder? more co
Slide 6: Wealth Management
WEALTH MANAGEMENT How did Wealth AUM, client additions and net flows trend in Q2 FY27, Which product categories have seen the strongest demand during the and what were the key drivers of growth? quarter, particularly across PMS, AIFs, multi-asset funds and Despite challenging market conditions, Weal
Slide 7: Business Performance
BUSINESS PERFORMANCE Q2 | FY27 7
Slide 8: Key Performance Indicators
KEY PERFORMANCE INDICATORS Emkay: Q2 FY27 at a glance (INR Mn) 2,25,406 1,99,782 25,624 TOTAL AS S E TS We alth As s e ts PM S & AI F AUM 13% YoY 9% YoY 64% YoY 1,567 410 310 R E V E N UE PBT PAT 103% YoY 13,567% YoY 6,100% YoY 574 40,200+ 7,763 TOTAL E M PL OYE ES C LI E NT BASE M AR K E T C AP (I
Slide 9: Key Highlights of Q2-FY27
KEY HIGHLIGHTS OF Q2-FY27 Financials Investment Banking Updates The Consolidated Revenue increased 7 Key Capital Market Transactions Investment Banking Updates 103% YoY to 3 IPOs | INR 12,613.36 Mn INR 1,567 Mn, 2 QIPs | INR 1,40,000 Mn while Consolidated 1 Offer for Sale | INR 30,448.80 Mn PAT incr
Slide 10: Key Highlights of Q2-FY27
KEY HIGHLIGHTS OF Q2-FY27 Our flagship three-day conference brought together a vibrant investment community 200+ 1,000+ 7,500+ Participating Funds & individual One-on-one & group companies clients meetings A PLATFORM FOR INSIGHT Substantive panel discussions • Expert speaker sessions QUARTERLY ENGAG
Slide 11: Digital & Technology Transformation Highlights
KEY HIGHLIGHTS OF Q2-FY27 Digital & Technology Transformation Highlights AI & Enterprise Intelligence Platform & Execution Client Journey & Process Resilience & Security AI-Led Engagement Platform Modernization Digital Onboarding & CRM Infrastructure Scalability Investments in AI Automation programs
Slide 12: Talent Acquisition & People Initiatives
KEY HIGHLIGHTS OF Q2-FY27 Talent Acquisition & People Initiatives Strategic Talent Acquisition Employee Wellness Drive Metropolis Partner 33 Hires in Q2: Key hires across functions including Senior Health check-up conducted at Head Office & Administrative Analyst, Sales & Regional Head. Office from
Slide 13: Employer Brand Strength
KEY HIGHLIGHTS OF Q2-FY27 AmbitionBox Rating Growth (3-Year View) Employer Brand Strength Emkay's overall employee rating has achieved a steady COMPARATIVE ANALYSIS ACROSS Q2 FISCAL YEARS and significant growth milestone, reaching a peak level of 4.0 in Q2 FY27 Q2 FY'25 Q2 FY'26 Q2 FY'27 3.2 3.4 4.0
Slide 14: Revenue Mix (INR Mn)
REVENUE MIX (INR Mn) Capital Markets Wealth Management Asset Management Others including Treasury 6M FY26 811 335 127 276 1,549 6M FY27 1,462 412 166 492 2,532 Q2 FY26 400 171 79 121 771 Q1 FY27 457 197 75 236 965 Q2 FY27 1,005 215 91 256 1,567 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Q2 | FY27 B
Slide 15: Capital Markets
Q2 FY27 Your success is aur success 15
Slide 16: Capital Market Performance
CAPITAL MARKET PERFORMANCE Derivative Market ADTO – Strike+Premium (in Bn) Equity Market ADTO – Cash Market (in Bn) 5,41,013 1,461 4,75,564 4,88,000 1,286 1,294 4,09,955 3,95,993 1,037 1,067 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Capital Market Revenue (INR M
Slide 17: Key Highlights
KEY HIGHLIGHTS 13 7 Roadshows Group calls/Events/Conferences 37 503 Corporate & Research Reports Released Expert Client Calls 25 251 Coverages Initiated Stocks under coverage Q2 | FY27 Capital Markets 17
Slide 18: Investment Banking Track Record
KEY HIGHLIGHTS INVESTMENT BANKING TRACK RECORD ₹ 1,30,000 MN ₹ 6,800 MN ₹ 30,448.80 MN Ather Energy Limited Purple Style Labs Limited Hindustan Copper Limited Merchant Banker to the QIP Advisor / Syndicate Member Merchant Banker / Broker to Offer ₹ 10,000 MN ₹ 5,000 MN SPR Auto Tech Limited SS Retai
Slide 19: Institutional Equities Research Overview
INSTITUTIONAL EQUITIES RESEARCH OVERVIEW Research Stocks and Sectors High Conviction Research Market Cap Bracket Research Universe <5000 Cr 17 5,000 -20,000 Cr 65 47 20,000-50,000 Cr 50,000-1,00,000 Cr 49 40 Member Research Team 1,00,000- 5,00,000 Cr 72 (Including 16 lead analysts >5,00,000 Cr 8 wit
Slide 20: Some Industry Reports Released in Q2 FY27
SOME INDUSTRY REPORTS RELEASED IN Q2 FY 27 Q2 | FY27 Capital Markets 20
Slide 21: Asset Management: PMS & AIF vertical
ASSET MANAGEMENT PMS & AIF vertical (Emkay Investment Managers Ltd.) Q2 | FY27 21
Slide 22: Asset Management Performance
ASSET MANAGEMENT PERFORMANCE Asset Management Revenue (INR Mn) PMS AUM (INR Mn) 17,576 16,031 15% 31% 10,380 9,412 9,555 166 21% 127 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 91 AIF AUM (INR Mn) 79 75 8,048 7,669 6,654 6,399 6,215 Q2 FY27 Q1 FY27 Q2 FY26 6M FY27 6M FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27
Slide 23: Key Highlights
KEY HIGHLIGHTS 9 Total number of Strategies 9 Number of Strategies that outperformed Benchmark 64% YoY increase in the AUM Q2 | FY27 Asset Management 23
Slide 24: Key Highlights
KEY HIGHLIGHTS EIML Emkay Capital Builder Emkay SMID Cap AUM PMS & AIF AUM PMS & AIF AUM Surpasses Reaches Grows to ₹6,492 Mn ₹2,248 Mn ₹25,500 Mn (as on 30 September, 2026) (as on 30 September, 2026) (as on 30 September, 2026) Q2 | FY27 Asset Management 24
Slide 25: Wealth Management
Wealth Management Q2 | FY27 25
Slide 26: Wealth Management Performance
WEALTH MANAGEMENT PERFORMANCE Wealth Management Revenue (INR Mn) Wealth Management AUM (INR Mn) Transactional Advisory 2,06,287 1,99,782 1,83,952 1,76,917 1,54,695 26% 23% 9% Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 767 412 Number of Clients* Portfolio Mix (%) (Q2-FY27) 335 38,175 3.65% 11.99% 12.96%
Slide 27: Key Highlights
KEY HIGHLIGHTS ↑ +33% +22% ↑ +9% +1 ₹72 Mn ₹143 Mn ₹1,99,782 Mn 22 Branches Advisory Revenue Transactional Revenue Assets Under Management Geographic Footprint Expanded 33% YoY Expanded 22% YoY Expanded 9% YoY Expanded presence in 1 location Navigator refreshed Regional Hub Expansion Anchored strong
Slide 28: Others Including Treasury Revenue (INR Mn)
OTHERS INCLUDING TREASURY REVENUE (INR MN) 112% 78% 8% 492 276 256 236 121 Q2 FY27 Q1 FY27 Q2 FY26 6M FY27 6M FY26 Q2 | FY27 W ealth Management 28
Slide 29: Financial Performance
FINANCIAL PERFORMANCE Q2 | FY27 29
Slide 30: Quarterly Consolidated Income Statement
QUARTERLY CONSOLIDATED INCOME STATEMENT Particulars (INR Mn) Q2FY27 Q1FY27 QOQ (%) Q2FY26 YOY(%) 6M FY27 6M FY26 % Change REVENUE Income from Operations 1,514 919 65 721 110 2,432 1,451 68 Other Income 53 46 15 50 6 100 98 2 Total Revenue 1,567 965 62 771 103 2,532 1,549 63 EXPENSES Employee Benefit
Slide 31: Historical Consolidated Income Statement
HISTORICAL CONSOLIDATED INCOME STATEMENT Particulars (INR Mn) FY25 FY26 REVENUE Income from Operations 3,362 3,770 Other Income 250 193 Total Revenue 3,612 3,963 EXPENSES Employee Benefits Expenses 1,709 1,886 Finance Costs 70 130 Depreciation & Amortisation Expenses 116 134 Other Expenses 1,110 1,6
Slide 32: Historical Consolidated Balance Sheet
HISTORICAL CONSOLIDATED BALANCE SHEET Particulars (INR Mn) FY25 FY26 Financial Assets (a) Cash and Cash Equivalents 465 475 (b) Other Bank Balances 4,928 8,682 (c) Securities held for trading 4 9 (d) Trade Receivables 941 1,721 (e) Loans 180 394 (f) Investments 319 380 (g) Other Financial Assets 4,8
Slide 33: Historical Financial Performance
HISTORICAL FINANCIAL PERFORMANCE Operational Revenue (INR Mn) PAT (INR Mn) & PAT Margins (%) 3,770 3,362 600 568 18.00% 16.89% 16.00% 2,864 500 14.00% 400 325 12.00% 11.35% 2,030 10.00% 300 8.00% 6.95% 200 141 152 6.00% 4.03% 4.00% 100 2.00% 0 0.00% FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 PAT PAT Ma
Slide 34: Consolidated Key Ratios
CONSOLIDATED KEY RATIOS Debt to Equity Interest Coverage Ratio 6.13 0.36 4.96 0.24 3.81 0.14 0.15 0.07 1 1.14 FY23 FY24 FY25 FY26 H1 FY27 FY23 FY24 FY25 FY26 H1 FY27 ROE (%) ROCE (%) 18.44% 20.89% 19.39% 13.69% 14.38% 6.85% 7.51% 4.45% 3.61% 1.95% FY23 FY24 FY25 FY26 H1 FY27 (Annualised) FY23 FY24 F
Slide 35: Capital Market Data
CAPITAL MARKET DATA EMKAY SENSEX 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% -10% -20% -30% Apr-2025 May- Jun-2025 Jul-2025 Aug- Sep- Oct-2025 Nov- Dec- Jan-2026 Feb- Mar- Apr-2026 May- Jun-2026 Jul-2026 Aug- Sep- 2025 2025 2025 2025 2025 2026 2026 2026 2026 2026 Price Data (As on 30 September, 2026) Sha
Slide 36: Our Presence Across India
OUR PRESENCE ACROSS INDIA 22 5 Emkay Wealth Emkay Investment Managers (EIML) locations in 15 cities locations in 4 cities Dehradun Delhi NCR (2) Wealth cities EIML cities Guwahati Ahmedabad Ahmedabad Patna Bangalore Delhi Baroda Hyderabad Ahmedabad (2) Bhopal Bhopal Kolkata Kolkata (2) Chennai Luckn
Slide 37: Disclaimer
DISCLAIMER Emkay Global Financial Services Ltd This presentation and the following discussion may contain “forward looking statements” by Emkay Global Financial Services Limited (EGFSL) that are not historical in nature. These forward looking statements, which may include statements relating to futu
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