360 ONE WAM Ltd (360ONE)
🎯 Key Takeaways
- 360 ONE WAM is in a phase of accelerated growth, transitioning from a traditional brokerage model to a scalable wealth management platform with a focus on recurring revenue and asset under management (AUM) expansion. Management emphasizes sustainable, profitable growth through geographic and product line diversification, supported by strong client retention and record AUM levels.
- Revenue grew 9.9% QoQ to ₹1,226 in Q1FY27.
- ⚠️ Rising leverage (D/E of 1.68) could pose financial risk if growth slows or margins compress.
📖 The Story
360 ONE WAM is in a phase of accelerated growth, transitioning from a traditional brokerage model to a scalable wealth management platform with a focus on recurring revenue and asset under management (AUM) expansion. Management emphasizes sustainable, profitable growth through geographic and product line diversification, supported by strong client retention and record AUM levels.
📰 What's Happening
In Q1 FY27, the company delivered robust financial performance with PAT up 14.8% YoY to ₹330 crores and revenue up 20% YoY to ₹870 crores, driven by 19% growth in ARR AUM to ₹3,42,035 crores and 20.3% growth in ARR revenue to ₹614 crores. The Board approved ESOP allotments in July and August 2026, reflecting routine equity compensation without dilution concerns. Additionally, the subsidiary PML withdrew an AIF business transfer from AMC to AMC and approved consolidation under AAM, a structural move to streamline fund management operations without altering ownership or shareholder rights.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 928 | 1,098 | 1,181 | 1,115 | 1,226 |
| Operating Profit | 322 | 404 | 389 | 308 | 376 |
| OPM % | 34.7% | 36.8% | 32.9% | 27.6% | 30.7% |
| Net Profit | 285 | 315 | 327 | 289 | 331 |
| EPS | ₹7.16 | ₹7.80 | ₹8.08 | ₹7.12 | ₹8.13 |
Revenue and profitability have shown consistent quarterly improvement, with OPM expanding from 34.7% in Jun 2025 to 36.8% in Sep 2025 before stabilizing around 30-32% in the most recent quarters. This trend aligns with management's focus on scaling higher-margin recurring revenue streams. Despite a temporary dip in operating cash flow in Mar 2026 (₹-2,921 crores), the company generated significant financing inflows, resulting in a net positive cash flow of ₹-171 crores, indicating active capital management amid growth investments.
🔮 Management Outlook & What's Next
Management stated it is well positioned for sustained, profitable growth as it deepens presence across asset classes, expands geographically, and scales newer businesses with patience and discipline. No specific forward guidance on revenue, margins, or capital allocation was provided in the latest filings, but the emphasis on structural expansion suggests continued investment in client acquisition and platform development.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 36 | 39 | 40 | 41 |
| Reserves | 3,872 | 7,026 | 9,308 | 9,169 |
| Borrowings | 10,901 | 11,160 | 13,765 | 15,452 |
| Total Liabilities | 15,746 | 19,769 | 24,265 | 27,201 |
| Fixed Assets | 356 | 350 | 499 | 3,969 |
| Investments | 5,806 | 7,608 | 8,225 | 8,842 |
| Total Assets | 15,746 | 19,769 | 24,265 | 27,201 |
The balance sheet shows a steady increase in total assets from ₹19,769 crores (Mar 2025) to ₹27,201 crores (Mar 2026), reflecting growth in operations and investments. Borrowings rose to ₹15,452 crores from ₹11,160 crores over the same period, indicating higher leverage to support expansion. However, equity and reserves also grew, from ₹39 + ₹7,026 crores to ₹41 + ₹9,169 crores, suggesting that the capital structure is being strengthened alongside debt to fund growth.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | -2,411 | -2,921 |
| Investing | -1,068 | -1,613 |
| Financing | +3,773 | +4,357 |
| Net Cash Flow | +297 | -171 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 6.3% | 6.3% | 6.2% | 6.2% |
| FII | 65.9% | 65.5% | 63.3% | 58.5% |
| DII | 10.7% | 10.8% | 12.8% | 18.7% |
| Public | 12.4% | 12.1% | 12.3% | 11.9% |
| # Shareholders | 78,007 | 74,516 | 74,294 | 76,687 |
FII holding has increased significantly from 65.52% in Q3FY26 to 58.55% in Q1FY27, while DII holdings have fluctuated but remain elevated. Promoter holding remains stable around 6.2%. The growing institutional interest, particularly from FIIs, signals confidence in the company's growth trajectory. The number of shareholders has slightly declined, but this may reflect consolidation rather than retail exit.
⚖️ Peer Comparison — Stock/ Commodity Brokers
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| GROWW | 1.19 L Cr | 47.6 | 33.9% | 25.3% | 0.02 |
| MOTILALOFS | 61,028 | 30.8 | 11.9% | 15.4% | 1.65 |
| 360ONE | 47,143 | 37.2 | 11.5% | 13.7% | 1.68 |
| NUVAMA | 32,551 | 15.4 | 21.9% | 31.0% | 2.25 |
| ANGELONE | 25,743 | 4.8 | 13.7% | 16.9% | 1.29 |
| PRUDENT | 13,852 | 56.5 | 37.9% | 27.8% | 0.00 |
| IIFLCAPS | 10,656 | 18.5 | 20.4% | 18.7% | 0.59 |
| ARSSBL | 3,198 | 20.1 | 16.4% | 9.6% | 0.62 |
| MONARCH | 2,970 | 16.4 | 30.8% | 22.7% | 0.01 |
| GEOJITFSL | 2,322 | 32.0 | 8.6% | 5.9% | 0.05 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Rising leverage (D/E of 1.68) could pose financial risk if growth slows or margins compress. 2. High dependence on AUM growth and recurring revenue makes performance sensitive to market volatility and client behavior. 3. Regulatory changes in the financial services sector could impact operations or require additional compliance costs. 4. Execution risk in scaling newer businesses as part of long-term strategy, despite management's emphasis on discipline.
📋 Recent Filings
-
🟡 Board Meeting 28 August 2026360 ONE WAM announced that its subsidiary PML will transfer the AIF business to AAM instead of AMC, consolidating fund management operations. The tran...
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Announcement 24 August 2026360 ONE WAM LIMITED announced its participation in multiple investor conferences scheduled between September 2 and September 28, 2026, including event...
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🟡 Board Meeting 20 August 2026The Board approved the allotment of 675,330 equity shares to employees upon exercise of stock options under the ESOP scheme, increasing the paid-up sh...
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🔴 annual report 11 August 2026The filing announces the 19th Annual General Meeting (AGM) of 360 ONE WAM LIMITED scheduled for September 2, 2026, conducted virtually. Shareholders w...
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Announcement 3 August 2026360 ONE WAM LIMITED announced that its subsidiary, 360 ONE Global Asset Management (IFSC) Limited, received the Certificate of Registration from the I...
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Announcement 3 August 2026360 ONE WAM LIMITED announced its participation in multiple investor conferences scheduled between August 12 and September 1, 2026, including Emkay Co...
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Announcement 21 July 2026360 ONE WAM reported 19% YoY growth in total ARR AUM to Rs 3,42,000 crores and 20.3% ARR revenue growth to Rs 614 crores, driving 14.8% PAT increase t...
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🟡 Board Meeting 21 July 2026The Board approved the allotment of 204,157 equity shares to employees upon exercise of stock options under the ESOP scheme, increasing the paid-up sh...
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🔴 Financial Results 16 July 2026360 ONE WAM reported Q1 FY27 PAT of ₹330 crores, up 14.8% YoY, and total revenue of ₹870 crores, up 20.0% YoY, driven by 19.0% growth in ARR AUM to ₹3...
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🟡 Board Meeting 16 July 2026The Board approved unaudited Q1 FY27 results showing PAT of **₹330 crores** (up 14.8% YoY) and revenue of **₹870 crores** (up 20% YoY), alongside AUM ...
🧠 Analyst's Read
360 ONE WAM is demonstrating consistent top-line and earnings growth with improving operational efficiency, supported by strong AUM expansion and institutional investor confidence. The company is in a clear phase of scaling its wealth management platform, but investors should monitor margin sustainability, leverage levels, and execution risks in new verticals as key near-term watchpoints.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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