360ONE
Mid Cap360 ONE WAM LIMITED
Financial Services
360 ONE WAM Limited is one of India’s largest wealth and alternate asset managers, serving 8,500+ client families and corporates. It offers wealth management, asset management, and capital markets services, with a focus on recurring revenue assets and an integrated model.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust needs verification, price trend argues for patience, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Good · 65/100Rev +36% YoY · PAT +16% YoY · margin expansion
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,115 Cr | +35.8% | -5.6% |
| EBITDA | ₹663 Cr | +43.8% | -8.6% |
| Operating margin | 59.0% | +300 bps | -200 bps |
| PAT | ₹289 Cr | +15.6% | -11.6% |
| PAT margin | 25.9% | -453 bps | -177 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
FY26 PAT rose 20.7% YoY to Rs 1,225 Cr, with total revenue up 18.6% YoY to Rs 3,144 Cr. Q4 FY26 PAT increased 16.8% YoY to Rs 292 Cr, and total revenue grew 18.5% YoY to Rs 780 Cr. Overall AUM reached Rs 6,74,492 Cr.
The company delivered robust FY26 results with strong YoY growth in AUM, revenue, and PAT, driven by recurring revenue assets. While Q4 PAT and total revenue saw YoY growth, QoQ trends show some moderation. Cost-to-income ratio increased YoY, partly due to inorganic additions.
Total AUM by Segment (March 2026)
Latest issuer-disclosed distribution across 2 reported categories.
Wealth Management
Wealth Management ARR AUM rose to Rs 2,16,734 Crs (+33.4% YoY) supported by net flows across segments.
Asset Management
Asset Management ARR AUM increased to Rs 95,206 Crs (+12.8% YoY) driven by net flows across Private Equity, Credit & Hybrid, and Real Assets segments.
ET Money Platform
ET Money is positioned to be one of the most trusted wealth partners for mass-affluent Indians, offering a lifecycle-led digital wealth platform.
Capital Markets
Reputed capital markets’ platform with strong client proposition completes the flywheel for 360 ONE WAM, with significant synergies with Wealth and Asset verticals.
Team Strength
The company has a team strength of 1,700+ professionals.
Office Footprint
The company operates through 32 offices.
Asset Management Investment Professionals
Asset Management has a strong team of 80+ Investment professionals across strategies.
Generational & Geographic Wealth Shift
Inter-generational wealth transfer of $83+ trillion by 2048. India forecasts 50%+ UHNI growth by 2028 - strongest globally.
Enhancement of Product Platform
15% of HNI portfolios are in alternatives; 61% of younger investors seek higher-growth allocations. Global investments are on the rise.
AI & Technology Adoption
AI-driven insights, blockchain security, and automated platforms are reshaping portfolio management and ESG analysis.
Other Income Impact
Other income for FY26 is down 62% at INR 79 Crs due to MTM (Mark-to-Market) impact in Q4.
Market Volatility
FY26 was marked by volatility and shifting global conditions, where discipline and execution were critical.
Cost Integration from Acquisitions
FY26 operating costs are not comparable with FY25 due to consolidation of B&K Securities and ET Money during the year, impacting cost-to-income ratio.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
YoY comparison is crucial for assessing overall business growth and profitability trends, especially for a financial services firm. QoQ comparison provides insight into sequential momentum, net flows, and cost management in the most recent period.
Overall AUM Growth
Overall Assets Under Management (AUM) at Rs 6,74,492 Cr as on March 2026, up 16.0% YoY (Q4 FY26).
Annual Recurring Revenue (ARR) AUM Growth
Annual Recurring Revenue (ARR) AUM at Rs 3,11,940 Cr, up 26.4% YoY (FY26).
ARR Net Flows
ARR Net Flows at Rs 55,875 Cr for FY26 (excl. inorganic, net flows were Rs 35,199 Cr). Q4 FY26 ARR Net Flows were Rs 8,985 Cr.
ARR Retention
Combined ARR retention improved to 78 basis points (bps) in FY26 vis-à-vis 73 bps in FY25. Q4 FY26 ARR retention was 78 bps.
Integrated Business Model
Management remains focused on building an integrated model across Wealth, Asset Management, and Capital Markets to meet evolving client needs.
Organic & Strategic Growth
Growth is driven by strong organic capability building and selective strategic initiatives, supported by a robust risk framework.
Technology & AI as Core Infrastructure
The company is building core AI agents for sustainable and scalable impact, treating AI as core infrastructure, not an IT initiative.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| ARR AUM Growth | 26.4% YoY (FY26) | Sustained double-digit growth in ARR AUM, indicating continued client trust and asset accumulation. |
| ARR Retention | 78 bps (FY26) | Stability or improvement in retention rates, reflecting effective client service and product offerings. |
| Cost to Income Ratio | 49.9% (FY26) | Improvement in operating efficiencies and stabilization of the ratio post-integration of recent acquisitions. |
| Organic Net Flows | Rs 35,199 Cr (FY26, excl. inorganic) | Continued strong organic net flows, demonstrating underlying business momentum independent of acquisitions. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
43NeutralSMA20 -2.2% / mo
Technical chart
360ONEweekly · 1Y-5.7%Technical trend read
Bearish setupTrend is weak — long-term trend unclear. RSI 48.
- SMA20 falling (~2.3% over last month) — short-term momentum negative.
- RSI(14) at 48 — sideways, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 14% off 52W high · 19% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Growth contributes 19/25 to the score.
- Quality contributes 6/20 to the score.
- Valuation contributes 0/30 to the score.
Main drags
- Fair-value margin of safety is negative at -8.8%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Balance sheet is weaker at 0/15; verify the latest quarterly trend.
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 19th percentile of the scored universe and 35th percentile within Financial Services. Main check: cash conversion is weak at 28/100.
Mixed Trust Lite: Promoter pledge is zero. Key concern: Operating cash flow is negative at ₹-2921 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Financial Services: 35th pctile, median 62 · Mid: 10th pctile, median 76
101 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
- ▸Latest 3 quarters had positive YoY PAT growth.
Trust risks
- ▸Operating cash flow is negative at ₹-2921 Cr.
- ▸Promoter holding is only 6.2%.
- ▸Only 1 years of positive FCF.
- ▸Debt/equity is 1.62.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 35.20
- P/B
- 4.36
- EV/EBITDA
- 20.54
- Market Cap
- 42860.00Cr
Profitability
- ROE
- 14.40%
- ROCE
- 12.10%
- ROA
- 4.47%
- Dividend Y
- 1.14%
Growth (CAGR)
- Revenue 5Y
- 21.00%
- EPS 5Y
- 27.00%
- Revenue 3Y
- 28.00%
- EPS 3Y
- 23.00%
Balance Sheet
- Debt/Equity
- 1.62
- Interest Coverage
- 2.48×
- Altman Z
- 2.60
- Book Value
- 242.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 1/5
- OCF
- -2921.00 Cr
- EPS TTM
- 29.94
Shareholding
- Promoter Hold
- 6.24%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 40%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.