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NUVAMA2023-07-012023-09-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member NUVAMA2023-07-012023-09-30in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 543988 NUVAMA NA Nuvama Wealth Management Limited Equity 2023-04-01 2024-03-31 2023-10-27 2023-10-19 INR Crores Half yearly 2023-10-27 16:45:00 2023-10-27 19:25:00 true Cash Flow Indirect Not applicable Multi segment 2023-07-01 2023-09-30 Unaudited Consolidated 2569000000.00 1300000.00 0.00 4002700000.00 779600000.00 0.00 0.00 0.00 0.00 7352600000.00 20500000.00 7373100000.00 0.00 0.00 0.00 2128900000.00 1469000000.00 243700000.00 0.00 0.00 0.00 21200000.00 1601600000.00 5464400000.00 1908700000.00 0.00 1908700000.00 432200000.00 32400000.00 464600000.00 1444100000.00 0.00 0.00 0.00 5500000.00 1449600000.00 -2900000.00 1446700000.00 1451700000.00 -2100000.00 1448800000.00 -2100000.00 350700000.00 10 41.39 41.11 0.00 0.00 41.39 41.11 0.02 0.00 0.02 Notes:1.Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) (the 'Company') has prepared consolidated financial results (the 'Statement') for the quarter and half year ended September 30, 2023 in accordance with Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the 'Listing Regulations, 2015') and the Accounting Standards specified under section 133 of the Companies Act, 2013 read with the Companies ('Indian Accounting Standards' / 'IND AS') Rules, 2015 as amended and the relevant provision of the Companies Act, 2013, as applicable. 2.The consolidated financial results of the Company and its subsidiaries (together referred to as 'Group') and its associate for the quarter and half year ended September 30, 2023 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on October 27, 2023. 3.The above consolidated financial results for the quarter and half year ended September 30, 2023 have been subjected to limited review by the Statutory Auditors of the Company and the auditors have issued an unmodified review report. 4.Earnings per share for the quarters ended September 30, 2023, June 30, 2023, September 30, 2022 and for the half year ended September 30, 2023, September 30, 2022 are not annualised. 5.NSE Clearing Ltd (NCL) conducted an inspection in the matter of trading member Vrise Securities Pvt Ltd and issued a show cause notice to Nuvama Clearing Services Ltd (Formerly Edelweiss Custodial Services Ltd) (NCSL), a subsidiary of the Company. The MCSGF Committee of NSE Clearing Limited issued order to reinstate securities worth Rs. 29.33 crore. NCSL had filed an appeal against the impugned order of NCL with Securities Appellate Tribunal (SAT) and SAT by its order had granted a stay on the matter. The hearing has been concluded and reserved for the final order. NCSL has assessed such liability to be remote. Accordingly, there is no adjustment required in the consolidated financial results for the quarter and half year ended September 30, 2023. Multi segment 2023-04-01 2023-09-30 Unaudited Consolidated 4644300000.00 1600000.00 0.00 7321800000.00 1419200000.00 0.00 0.00 0.00 442800000.00 13829700000.00 35500000.00 13865200000.00 0.00 0.00 0.00 4081200000.00 2659400000.00 466500000.00 0.00 0.00 0.00 82800000.00 3162000000.00 10451900000.00 3413300000.00 0.00 3413300000.00 852100000.00 -91200000.00 760900000.00 2652400000.00 0.00 0.00 0.00 27000000.00 2679400000.00 -5100000.00 2674300000.00 2682400000.00 -3000000.00 2677300000.00 -3000000.00 350700000.00 10 24366200000.00 76.49 75.97 0.00 0.00 76.49 75.97 0.02 0.00 0.02 Net income pertaining to Demerged Undertaking 0.00 Net income pertaining to Demerged Undertaking 442800000.00 Other expenses 1601600000.00 Other expenses 3162000000.00 7456200000.00 90449300000.00 5403600000.00 11389200000.00 0.00 42380200000.00 1778000000.00 15388300000.00 174244800000.00 0.00 588300000.00 99100000.00 143700000.00 0.00 2184300000.00 0.00 89700000.00 144800000.00 480900000.00 773100000.00 4503900000.00 178748700000.00 350700000.00 24668000000.00 25061300000.00 1212800000.00 61200000.00 31654900000.00 0.00 0.00 50870500000.00 9168300000.00 0.00 0.00 58749000000.00 151716700000.00 430100000.00 139500000.00 0.00 1401100000.00 1970700000.00 178748700000.00 Asset management business 191200000.00 Capital markets business 2813600000.00 Inter-segment elimination 0.00 Share of profit of associate 0.00 Unallocated 3200000.00 Wealth management business 4825100000.00 Asset management business 351700000.00 Capital markets business 5378700000.00 Inter-segment elimination 0.00 Share of profit of associate 0.00 Unallocated 8800000.00 Wealth management business 8878900000.00 7833100000.00 14618100000.00 460000000.00 752900000.00 7373100000.00 13865200000.00 Asset management business -12200000.00 Capital markets business 1019900000.00 Inter-segment elimination 29100000.00 Share of profit of associate 5500000.00 Unallocated -34100000.00 Wealth management business 906000000.00 Asset management business -7000000.00 Capital markets business 1899700000.00 Inter-segment elimination 43500000.00 Share of profit of associate 27000000.00 Unallocated -159100000.00 Wealth management business 1636200000.00 1914200000.00 3440300000.00 0.00 0.00 0.00 0.00 1914200000.00 3440300000.00 Asset management business 430100000.00 Capital markets business 109894800000.00 Inter-segment elimination -26289600000.00 Share of profit of associate 0.00 Unallocated 2194500000.00 Wealth management business 92518900000.00 178748700000.00 0.00 178748700000.00 Asset management business 208600000.00 Capital markets business 102094100000.00 Inter-segment elimination -26388000000.00 Share of profit of associate 0.00 Unallocated 994600000.00 Wealth management business 76778100000.00 153687400000.00 0.00 153687400000.00 Note of resuls (cont.)-7.The Board of Directors of the Company at its meeting held on May 13, 2022, had approved the Scheme of arrangement between Edelweiss Financial Services Limited ('EFSL') and Nuvama Wealth Management Limited ('NWML') and their respective shareholders and creditors, under section 230 to 232 read with applicable provisions of the Companies Act, 2013, which, inter-alia, envisaged demerger of Wealth Management Business Undertaking (including Merchant banking business) of EFSL into the Company (i.e. 'Demerged Undertaking' as defined in the Scheme). The National Company Law Tribunal Bench at Mumbai (Tribunal) has approved the aforementioned Scheme vide its order dated April 27, 2023 under the applicable provisions of the Companies Act, 2013. Certified copy of the said order of the Tribunal was received by the Company on May 12, 2023 and filed with the Registrar of Companies on May 18, 2023 (Effective date of the Scheme). Subsequently, NWML received requisite registration from SEBI and complied with conditions of SEBI by June 30, 2023. Consequently, during the quarter ended June 30, 2023, the Company has accounted for the said Demerged Undertaking in its books of accounts in accordance with the Scheme; arrangement between EFSL, NWML and its shareholders to implement the scheme, and the provisions of IND AS as follows:(i) Profit after tax of Demerged Undertaking from March 26, 2021 till May 18, 2023 amounting to Rs. 36.43 crore has been accounted as Net income pertaining to Demerged Undertaking. (ii) the business of the Demerged Undertaking was carried on by EFSL in trust for the Company from May 19, 2023 to June 30, 2023 and accordingly, the Profit before tax of the Demerged Undertaking amounting to Rs. 7.85 crore from May 19, 2023 to June 30, 2023 has been accounted as Net income pertaining to Demerged Undertaking. 8.These consolidated financial results are available on the website of BSE Limited ('BSE') (www.bseindia.com), National Stock Exchange of India Limited ('NSE') (www.nseindia.com) and Company's website (www.nuvama.com). 9.The equity shares of the Company are listed on BSE and NSE effective September 26, 2023. 10.Previous period / year figures have been regrouped / reclassified wherever necessary to conform to current period's / year's presentation. Segment notes- 1) Capital markets business segment revenue includes Net income pertaining to Demerged Undertaking (including merchant banking business) of Rs. 44.28 crore pursuant to demerger and transfer of said undertaking becoming effective (refer note 7 in financial results). 2) Capital markets business segment assets and liabilities includes assets and liabilities pertaining to Demerged Undertaking (refer note 7 in financial results). Note:The Group’s business is organised and management reviews the performance based on the business segments as mentioned below: i) Wealth management business--Retail securities broking business, Distribution of financial products, Investment advisory and Lending against securities ii) Asset management business--Investment management for Alternative Investment Funds (AIFs) and Portfolio management services (PMS) across strategies iii) Capital markets business -- Institutional broking business, Merchant banking, Debt advisory and Clearing services Remeasurement gain / loss on defined benefit plans (OCI) -10100000.00 Share in Other comprehensive income of associate 300000.00 Remeasurement gain / loss on defined benefit plans (OCI) -10000000.00 Share in Other comprehensive income of associate 300000.00 -9800000.00 -9700000.00 -2400000.00 -2400000.00 Foreign Exchange Translation Reserve 4500000.00 Foreign Exchange Translation Reserve 2200000.00 4500000.00 2200000.00 0.00 0.00 -2900000.00 -5100000.00 0.00 0.00 -2490800000.00 0.00 0.00 -32500000.00 0.00 -4514800000.00 -45052800000.00 14094400000.00 0.00 0.00 0.00 466500000.00 82800000.00 0.00 439900000.00 28162100000.00 0.00 0.00 0.00 51200000.00 131200000.00 113200000.00 0.00 64000000.00 0.00 40400000.00 0.00 -8547600000.00 -5134300000.00 0.00 0.00 0.00 642800000.00 0.00 -5777100000.00 0.00 40700000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 274600000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 33700000.00 0.00 -15700000.00 0.00 -297300000.00 0.00 0.00 0.00 4100000.00 0.00 0.00 2700000.00 0.00 5907200000.00 0.00 0.00 267600000.00 0.00 0.00 0.00 0.00 5646400000.00 -428000000.00 2200000.00 -425800000.00 7882000000.00 7456200000.00