360 One Wam (360ONE) Q4 24/25 earnings summary

Executive summary

• FY25 profit after tax reached ₹1,015 crore, up 26.6% year-over-year, with total revenues at ₹2,652 crore, up 35% year-over-year, despite volatile markets and geopolitical uncertainty.

• Assets under management (AUM) stood at ₹5,81,498 crore as of March 2025, with annual recurring revenue (ARR) AUM at ₹2,46,828 crore, up 23.2% year-over-year.

• Announced exclusive strategic collaboration with UBS AG, including acquisition of UBS India onshore business, UBS acquiring a 4.95% stake via convertible warrants, and joint business initiatives.

• Onboarded over 440 new clients with INR 10 crore+ Wealth ARR AUM, bringing total to 3,300+ such clients, accounting for 95% of Wealth AUM.

• Announced and/or completed acquisitions of B&K Securities and ET Money, enhancing brokerage, advisory, and digital capabilities.

Financial highlights

• Revenue from operations for FY25 was ₹2,446 crore, up 32.5% year-over-year; total revenues up 35% to ₹2,652 crore.

• ARR revenue for FY25 was ₹1,701 crore, up 28.2% year-over-year, comprising 70% of total operational revenue.

• Operating profit before tax for FY25 was ₹1,228 crore, up 38.1% year-over-year.

• Cost-to-income ratio improved to 45.9% in FY25 from 48.7% in FY24; total costs up 27.3% to INR 1,218 crore.

• Tangible ROE at 24.3% for FY25.

Outlook and guidance

• Targeting 20-25% annual AUM growth, 15-20% revenue growth, and 20-25% PAT growth.

• Strategic focus on expanding institutional relationships, product innovation, and deepening domestic distribution.

• Collaboration with UBS AG expected to drive synergies in asset management and investment banking, and broaden global client access.

• Board approved FY26 first interim dividend of ₹6 per share.

• No major block redemptions expected; AMC flows projected at 10-12% of opening AUM, with 60-65% from wealth and 35% from asset management.