24th Annual Report of the Company for the F.Y 2025-26.

DATE: 2ND SEPTEMBER, 2026 To To Manager - Listing Department Head – Listing Operations, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, Plot No. C/1, G Block, P.J. Towers, Dalal Street, Bandra-Kurla Complex, Bandra (E), Fort, Mumbai – 400 001 Mumbai-400051 BSE SCRIP CODE: 544536 NSE SYMBOL: WEALTH REF: WEALTH FIRST PORTFOLIO MANAGERS LIMITED SUB: SUBMISSION OF 24TH ANNUAL REPORT OF WEALTH FIRST PORTFOLIO MANAGERS LIMITED FOR THE F.Y 2025-26 UNDER REGULATION 34 (1) OF SEBI (LISTING OBLIGATION AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 Dear Sir/Madam, Please refer to our letter dated 28th August, 2026 intimating that the 24th Annual General Meeting (“AGM”) of the members of the Company will be held on Thursday, 24th September, 2026 at 04:00 P.M IST through Video Conferencing (‘VC’)/ Other Audio Visual Means (‘OAVM’). Pursuant to regulation 30 and 34 of the SEBI Listing Obligation and Disclosure Requirements (LODR) Regulations, 2015, we are submitting copy of 24th Annual Report for the F.Y 2025-26 of Wealth First Portfolio Managers Limited which is being sent through electronic mode to the Members. The Annual Report contains the following: (1) Notice of the 24th AGM. (2) Directors Report. (3) Management Discussion and Analysis Report. (4) Corporate Governance Report. (5) Independent Auditor’s Report on Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2026. (6) Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2026. (7) Cash Flow Statement on Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2026. As per the circulars issued by Ministry of Corporate Affairs and SEBI, the aforesaid documents are electronically dispatched to those members whose email IDs are registered with the Company / Big Share Services Private Limited ("Registrar and Share Transfer Agent" of the Company) or the Depositories. The Annual Report for the F.Y 2025-26 is also uploaded on the Company’s Website www.wealth- firstonline.com. You are requested to kindly take the same on record. Thanking you Yours faithfully, FOR AND ON BEHALF OF WEALTH FIRST PORTFOLIO MANAGERS LIMITED ASHISH SHAH MANAGING DIRECTOR DIN: 00089075 Enclosed:  Annual Report THE LONG GAME PLAYE D R I G HT WEALTH FIRST PORTFOLIO MANAGERS LIMITED ANNUAL REPORT 25-26 D ISCI PLI N E | PE R SPEC T I V E E N DU R AN CE | T RUS T Corporate Overview Statutory Reports Financial Statements 12,410 dots. One for every day of the last 34 years. 34 times 365, the arithmetic of an institution. No two are alike. Some sit large and deeply coloured, the days that defined a decade. Most are small, faint, almost invisible, the ordinary days when nothing seemed to move at all. That’s the honest shape of 34 years: not a clean arc upward, but an uneven accumulation of days, no two ever the same. THE COVER ISN’T A DESIGN. Step back, and it stops looking uneven. IT’S RECORD It looks inevitable. Not because every day was a good one. Because, every single one was met with the same four commitments. Discipline. Perspective. Endurance. Trust. 12,410 days. No two the same. One institution. 02 WEALTH FIRST PORTFOLIO MANAGERS LTD THE LONG GAME ANNUAL REPORT 2025-26 03 PLAYED RIGHT Corporate Overview Statutory Reports Financial Statements Today, that belief stands taller than ever. K12,157 A 12×10 office. A handful of people. And one belief: build crore under advisory. 6,889 a firm that always sits on the client’s side of the table, a client families who call us place they never need to look beyond. their own. And a 33rd-place ranking in the country in That belief has guided us ever since. Day in and day out, wealth management. we find the gaps, fill them with thoughtful solutions, More than numbers, it is a and keep moving forward. name people trust. And the road has not ended. It has That’s what we’ve been doing from the very only widened into an asset beginning. And that’s what we’ll keep doing. management company and an insurance broking arm. Different businesses. One belief. Stay on the client’s side of the table. Find the gaps. Build the solutions. And keep moving forward. The Long Game. Played Right 4 What FY26 Really Built 12 Financial Highlights 47 Who We Are 18 Notice 48 Key Performance Indicators 22 Director's Report 70 DOTS IN From the Managing Director's Heart 26 Report on Corporate Governance 98 THE DOCUMENT Management Discussion and Analysis 28 Standalone Financial Statements 120 Corporate Information 46 Consolidated Financial Statements 167 04 WEALTH FIRST PORTFOLIO MANAGERS LTD THE LONG GAME ANNUAL REPORT 2025-26 05 PLAYED RIGHT Corporate Overview Statutory Reports Financial Statements IN a business that measures success the firm for over ten years, relationships in quarters, Wealth First has always that have survived bull markets, bear measured it in relationships. The markets and testing times that created distinction shaped everything: the immense volatility in the Indian financial culture, the structure and over three and landscape. a half decades, the firm itself. For example, during the payment crisis Its most visible expression is a policy that at a spot exchange, or when a renowned remains uncommon in Indian wealth AMC wound up its debt schemes after management. Wealth First’s relationship being unable to honour redemptions, managers operate without revenue Wealth First’s clients suffered zero capital targets. No sales quotas. No pressure loss. Not because the firm predicted to close. The logic was simple and either crisis, but because every product widely accepted early on: the moment in every portfolio had passed our an advisor carries a target, the advice critical filter: Does this product meet the changes. benchmark we apply to our own wealth? Only if the answer is a clear yes does it Wealth First removed that tension at the become part of our clients’ portfolios. source. The result is a client franchise where 65% of families have been with Growth followed the same philosophy. No intermediaries. No distribution layers. Every client served directly, every new relationship earned through referral. It is a slower model. But over three decades, it produced something faster models cannot: a client base whose trust is structural, not contractual. LONG WHAT DOES IT MEAN TO PLAY LONG IN AN INDUSTRY THAT REWARDS THE SHORT? 06 WEALTH FIRST PORTFOLIO MANAGERS LTD THE LONG GAME ANNUAL REPORT 2025-26 07 PLAYED RIGHT Corporate Overview Statutory Reports Financial Statements Ap latform. Not a product line, not These are not adjacent businesses. They a menu of services, but a platform are one business, experienced differently engineered so that a client’s entire by each of the 21,746 clients it serves, financial life could be held, researched, from first-time investors placing their monitored and managed within a single earliest savings to corporate treasuries, institution. pension funds and institutional trusts managing generational wealth. Mutual funds. Bonds. Direct equity. Portfolio management. Insurance. Each Underneath this breadth sits a metric vertical built on the same foundation of that matters more than any single proprietary research, each governed by vertical: H5,558 crore in annualised the same filter, each managed by a team recurring revenue assets under that would never be asked to push one management. This is the compounding product over another. engine, trail-based, locked in and Today, the platform manages H5,392 designed to grow with the client rather crore in mutual funds, H4,014 crore in than chase the market. bonds and H2,272 crore in direct equity. Between FY22 and FY26 the firm’s business activity income has compounded at 26.6% annually. That trajectory was not built on a single product cycle or a favourable market window. It was built on the daily, unglamorous work of deepening relationships, earning referrals and converting trust into recurring mandates [Showing first 8,000 characters — download PDF for full document]