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IIFL Wealth Management Ltd - 542772 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript

 Further to our earlier intimation regarding the earnings call scheduled on October 20, 2022, for the unaudited financial results for the quarter and half year ended September 30, 2022, please find enclosed herewith the transcript of the earnings call held on October 20, 2022. The transcript of the said earnings call shall also be available on website of the Company at www.iiflwealth.com. This is for your information and appropriate dissemination
25-10-2022
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IIFL Wealth Management Ltd - 542772 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

 In furtherance of our letter dated October 10, 2022, informing the exchanges regarding the earnings call in respect of the financial results of the Company for the quarter and half year ended September 30, 2022 and pursuant to Regulation 30, read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the audio recording of the earnings call held today i.e. October 20, 2022, is hosted on the website of the Company and is available at https://www.iiflwealth.com/Investor-Relations.
20-10-2022
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IIFL Wealth Management Ltd - 542772 - Communication To Equity Shareholders Of The Company For Tax Deduction On Dividend

 Pursuant to Regulation 30, read with Para A of Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith email communication dated October 20, 2022, sent to the equity shareholders of the Company having their email ids registered with the Depositories with respect to the withholding of tax on the third interim dividend for the financial year 2022-23 as attached.
20-10-2022
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IIFL Wealth Management Ltd - 542772 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

 We wish to inform that the Nomination and Remuneration Committee of the Board of Directors of the Company vide resolution passed by circulation on October 20, 2022, has allotted 51,986 (Fifty One Thousand Nine Hundred and Eighty Six) equity shares of face value Rs. 2/- each, to the employees, upon exercise of stock options under Employee Stock Options Scheme(s) of the Company. Consequent to the aforesaid allotment, the issued, subscribed and paid-up share capital of the Company has increased from Rs. 17,76,79,156/- comprising of 8,88,39,578 equity shares of Rs. 2/- each to Rs. 17,77,83,128/- comprising of 8,88,91,564 equity shares of Rs. 2/- each.
20-10-2022
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Q2FY23 Quarterly Result Announced for IIFL Wealth Management Ltd.

 IIFL Wealth Management announced Q2FY23 results: IIFL Wealth Management Ltd reported a Consolidated Profit After Tax of Rs 173 crore for the quarter, up 23% YoY and 8% QoQ, and Rs 333 crore for the half year ended, up 28% YoY Operating Profit Before Tax stood at Rs 410 crore for the half year ended, up 51% YoY Total Revenues stood at Rs 405 crore, up 12% YoY and 10% QoQ, and Rs 774 crore for the half year ended, up 16% YoY Revenue from Operations stood at Rs 382 crore, up 22% YoY and 2% QoQ, and Rs 757 crore for the half year ended, up 27% YoY Annual Recurring Revenues stood at Rs 261 crore up 17% YoY and 5% QoQ, and Rs 508 crore for the half year ended, up 23% YoY Mr. Karan Bhagat, MD & CEO, IIFL Wealth & Asset Management: "Despite a weak global geopolitical and macro environment, our AUM witnessed healthy net flows, coupled with a positive MTM impact during the quarter. Annual Recurring Revenue Assets stood at Rs 155 K crore up 17% YoY and 8% QoQ. This was primarily driven by our efforts in creating and adhering to an optimal asset diversification strategy, complemented by a strong process-driven investment approach. This has helped our clients navigate the volatility of the current investment landscape. The current Quarter has seen more than Rs 6,100 crore of net new flows and strong Profit after Tax (PAT) of Rs 173 crore, growing 8% QoQ. ARR Revenues are steady at Rs 261 crore for the quarter, up 5% QoQ and continue to grow - with more than 68% of Total Operating Revenues being recurring in nature. Our retentions hold steady with wealth management retention at 54 bps, asset management retention at 79 bps and aggregate retention at 59 bps. Our cost to income in the current quarter has remained steady at ~44% as we continue to keep a sharp focus across all expense heads. The wealth management landscape is evolving at a fast clip as a host of factors pave the way to create new opportunities for wealth managers. Some of the early trends that we identified in terms of the changing contours of the industry, inter-generational wealth transfer, and the growth in wealth in Tier 2 cities is now playing out. We are well-positioned to optimally leverage these trends and further lead the industry with our advisory proposition. Additionally, our focus on alternative investments has held us in good stead as clients are increasingly looking to enhance the risk-adjusted returns of their portfolios through strategies like Credit and Multi-Asset. This quarter, our Tangible ROE has further improved to 28%. In addition, we are happy to report our third interim dividend of Rs 17 and remain committed to our dividend pay-out strategy. In the near term, we are cognizant of the global volatility, which can provide both, challenges as well as opportunities. We continue to look out for exciting new products and opportunity areas, while remaining relatively cautious in our approach. In addition, people and technology remain our key investment themes – we continue to add new talent and deep expertise to the organization." Result PDF
20-10-2022

IIFL Wealth & Asset Management Q2 PAT rise 23% to Rs 173 cr; revenue up 12%

 IIFL Wealth & Asset Management on Wednesday reported a 23 per cent growth in profit after tax (PAT) to Rs 173 crore for three months ended September 2022. The company had posted a PAT of Rs 140 crore in the same quarter of the last fiscal, IIFL Wealth & Asset Management said in a statement. The company's total revenue rose 12 per cent to Rs 405 crore in the second quarter of 2022-23, from Rs 362 crore in the same quarter of preceding fiscal. The company's board declared the third interim dividend of Rs 17 per share. "In the near term, we are cognizant of the global volatility which can provide both challenges as well as opportunities. We continue to look out for exciting new products and opportunity areas, while remaining relatively cautious in our approach," the company's MD and CEO Karan Bhagat said. He, further, said that people and technology remain the company's key investment themes. It would continue to add new talent and deep expertise to the organization.
19-10-2022
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IIFL Wealth Management Ltd - 542772 - Outcome Of The Meeting Of The Board Of Directors Of IIFL Wealth Management Limited Held On Wednesday, October 19, 2022

 Pursuant to Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI Listing Regulations'), we wish to inform you that the Board of Directors ('Board') of IIFL Wealth Management Limited ('Company') at its meeting held today has inter-alia as per the enclosed file.
19-10-2022
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IIFL Wealth Management Ltd - 542772 - Corporate Action-Board approves Dividend

 Outcome of the meeting of the Board of Directors of IIFL Wealth Management Limited held on Wednesday, October 19, 2022
19-10-2022
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IIFL Wealth Management Ltd - 542772 - Board Meeting Outcome for Outcome Of The Meeting Of The Board Of Directors Of IIFL Wealth Management Limited Held On Wednesday, October 19, 2022

 Pursuant to Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI Listing Regulations'), we wish to inform you that the Board of Directors ('Board') of IIFL Wealth Management Limited ('Company') at its meeting held today has inter-alia approved as per enclosed intimation
19-10-2022

Buy IIFL Wealth; target of Rs 2300: Motilal Oswal

 Motilal Oswal is bullish on IIFL Wealth recommended buy rating on the stock with a target price of Rs 2300 in its research report dated October 17, 2022.
18-10-2022
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