360 One Wam
Stock Snapshot
Price Performance
Vista Outlook
Basis of our Recommendation
360 One WAM's management is strategically positioning the company to capitalize on India's expanding ultra-high net worth individual (UHNI) and high net worth individual (HNI) segments. Recent commentary highlights a focus on enhancing wallet share through a comprehensive financial services platform, supported by partnerships such as UBS for capital and product distribution. Despite facing competitive pressures and rising operational costs, management anticipates a 20% PAT CAGR over FY26-28, driven by a structural shift in wealth management. Vista's financial outlook reflects this optimism, projecting stable margins and a fair valuation aligned with intrinsic value, while also indicating a 26.9% expected upside. However, the company must navigate challenges such as high costs from aggressive expansion and potential margin compression due to a shift towards advisory assets. The macro environment remains supportive, with strong domestic demand indicators, although inflationary pressures could impact purchasing power. Over the next 12-24 months, key opportunities include leveraging the UBS partnership and expanding into alternative assets, while watchpoints include managing cost-to-income ratios and competitive dynamics in the asset management space
Why We Like This Stock
- Strong strategic positioning in the UHNI and HNI segments supported by partnerships like UBS
- Management's focus on achieving a 20% PAT CAGR over FY26-28 indicates confidence in long-term growth
- The asset management sector's forecasted CAGR of 13.59% presents significant growth potential
Things To Watch Out For
- Rising operational costs associated with aggressive expansion could pressure margins
- Potential margin compression due to a shift towards a higher proportion of advisory assets
- Competitive pressures in the asset management industry may limit pricing power and net equity flows
Key Parameters
Financial Snapshot
View Technicals Analysis →| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 2,921 | 3,684 | 4,470 | 4,469 | 5,084 |
| Profit Before Tax (Cr.) | 1,009 | 1,435 | 1,577 | 1,593 | 2,005 |
| PBT Margin | 34.5% | 39.0% | 35.3% | 35.6% | 39.4% |
| Net Profit (Cr.) | 850 | 1,101 | 1,220 | 1,231 | 1,549 |
| Earnings Per Share | 20.9 | 27.1 | 30.0 | 30.3 | 38.1 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Motilal Oswal | ▲ Buy | 1,300 | 18-Sep-2026 |
| Bernstein | ▲ Outperform | 1,330 | 17-Jul-2026 |
| Citigroup | ▼ Sell | 1,600 | 17-Jul-2026 |
| Investec | ▼ Sell | 1,300 | 17-Jul-2026 |
| Jeffries | ▲ Buy | 1,340 | 17-Jul-2026 |
| Kotak Securities | ► Add | 1,250 | 17-Jul-2026 |
Company Overview
Show Company Profile
360 One Wam Limited, together with its subsidiaries, provides wealth and asset management services in India. It operates through the Wealth Management and Asset Management segments. The Wealth Management segment engages in the distribution of financial products, advisory, broking and research, discretionary and non-discretionary portfolio management services, corporate treasury solutions, estate planning, and managing financial products in advisory. This segment is also involved in lending and investment activities. The Asset Management segment engages in the management of pooled funds under various products and structures, such as mutual funds, alternative asset funds, portfolio management and related activities, including advisory and offshore spanning public and private equity, fixed income, and real assets. It serves ultra-high net worth individuals, family offices, and institutional clients. The company was formerly known as IIFL Wealth Management Limited and changed its name to 360 One Wam Limited in January 2023. 360 One Wam Limited was incorporated in 2008 and is based in Mumbai, India.