Table of Contents
Ask Investment Managers (ASKIM) Unlisted Shares
BUY
₹ 730.00
SELL
₹ 770.00
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As on 03 Sep 2026, 11:08 AM, we are buying shares of the ASK Investments Managers Unlisted Shares for ₹ 730.00 and selling them for ₹ 770.00 per share.
About Ask Investment Managers (ASKIM) Unlisted Shares
ASK Investment Managers Limited (ASKIM) is a leading asset and wealth management company in India, operating under a pure-play wealth advisory model. It focuses on long-term, stable annuity-based revenues instead of transactional broking or lending. The firm offers advisory-led services and follows an open architecture to drive growth in both asset and wealth segments. It caters to HNIs and ultra-HNIs through personalized investment strategies backed by a seasoned leadership team and a robust governance framework.
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2. Business Division
a) Asset & Wealth Management
ASK offers a wide range of investment products across asset classes such as equities, PMS (Portfolio Management Services), AIFs (Alternative Investment Funds), and real estate, focusing on long-term wealth creation.
b) Distribution Network
With over 600 external distributors across India and a growing international presence, ASK has a multi-channel distribution model, including dependency on an affiliated bank for product placement.
c) Advisory Revenue Model
ASK earns the majority of its income (95%) from annuity-based advisory fees. It avoids lending or broking operations, ensuring predictable and recurring income.
3. Financial Performance (Key Points)
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Revenue increased from ₹909 Cr in FY22 to ₹1,063 Cr in FY24, growing consistently year over year.
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EBITDA margin remained strong above 43%, highlighting operational efficiency and low cost overheads.
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Net Profit (PAT) rose from ₹310 Cr to ₹403 Cr between FY22 and FY24, with NPM at 37.91% in FY24.
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EPS improved from ₹37.78 in FY22 to ₹47.78 in FY24, reflecting better returns per share.
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Zero debt structure, with no borrowings reported over the three years, ensures financial stability.
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Strong reserve base, growing from ₹1,045 Cr to ₹1,542 Cr, indicating retained earnings and reinvestment capability.
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Investments surged to ₹1,127 Cr in FY24, showing growth in underlying asset strength.
Pros
- High Annuity Revenue (95%): Ensures recurring, stable income with minimal fluctuations.
- Experienced Leadership: Long-serving management with average tenure over 15 years.
- Zero Debt: Strong balance sheet with no borrowings, enhancing long-term financial resilience.
Cons
- Affiliated Bank Dependence: Relies heavily on bank-linked distribution, risking conflict of interest.
- Limited Third-Party Reach: Asset management arm has constrained external distribution.
- Potential Regulatory Impact: Changes in SEBI/RBI regulations may affect fee-based revenue structures.
Fundamentals
| Share Name | Particulars |
|---|---|
| Ask Investment Managers (ASKIM) Unlisted Shares | 770 |
| Shares Price | Per Equity Share |
| Minimum Lot Size | Shares Worth Rs. 20000 |
| Depository | NSDL & CDSL |
| PAN Number | AAFCA2302P |
| ISIN Number | INE925L01025 |
| CIN | U65993MH2004PLC147890 |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | 6706.7 |
| P/E Ratio | 15.14 |
| P/B Ratio | 3.7 |
| Debt to Equity | 0 |
| ROE (%) | 24.42 |
| Book Value | 208.2 |
| EPS | 50.86 |
| Face Value | 2 |
| Total Shares | 87100000 |
Financials
| P&L Statement | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Revenue | 1038 | 1063 | 936 | 909 |
| Cost of Material Consumed | 0 | 0 | 0 | 0 |
| Gross Profit Margins | 100.00% | 100.00% | 100.00% | 100.00% |
| EBITDA | 376 | 471 | 421 | 391 |
| EBITDA Margins | 36.22% | 44.31% | 44.98% | 43.01% |
| EBIT | 360 | 461 | 405 | 376 |
| EBIT Margins | 34.68% | 43.37% | 43.27% | 41.36% |
| PBT | 429 | 516 | 439 | 406 |
| PAT | 443 | 403 | 335 | 310 |
| NPM | 42.68% | 37.91% | 35.79% | 34.10% |
| EPS | 50.86 | 47.78 | 40.02 | 37.78 |
| Cash Flow Statement | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Cash from Operating Activity | 211 | 511 | 390 | 363 |
| Cash from Investing Activity | -60 | -257 | -274 | -196 |
| Cash from Financing Activity | -167 | -234 | -12 | -178 |
| Net Cash Flow | -16 | 20 | 104 | -11 |
| Assets | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Fixed Assets | 19 | 25 | 29 | 34 |
| CWIP | 0.39 | 0 | 1 | 1 |
| Investments | 1393 | 1127 | 895 | 621 |
| Trade Receivables | 169 | 225 | 210 | 232 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Assets | 618.61 | 754 | 760 | 397 |
| Total Assets | 2200 | 2131 | 1895 | 1285 |
| Liabilities | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Share Capital | 17.42 | 16.87 | 16.74 | 16.41 |
| Reserves | 1796 | 1542 | 1372 | 1045 |
| Borrowings | 0 | 0 | 0 | 0 |
| Trade Payables | 66 | 75 | 96 | 48 |
| Other Liabilities | 320.58 | 497.13 | 410.26 | 175.59 |
| Total Liabilities | 2200 | 2131 | 1895 | 1285 |
Peer Comparison
| Company | Market Cap (cr.) | Revenue (cr.) | P/E | P/B | ROE (%) |
|---|---|---|---|---|---|
| Ask Investment Managers (ASKIM) Unlisted Shares | 6706.7 | 1038 | 15.14 | 3.7 | 24% |
| SBI FUNDS MANAGEMENT LIMITED | 176329.32 | 4063.32 | 66 | 20.2 | 31% |
| HDFC SECURITIES LIMITED | 15278.85 | 3107 | 16.49 | 4.24 | 26% |
| PARAG PARIKH FINANCIAL ADVISORY SERVICES LIMITED | 13764.19 | 428.84 | 62.61 | 21.04 | 38% |
Promoters or Management
| Name | Designation |
|---|---|
| Bharat Shah | Whole-time Director |
| Sumit Jain | Chief Investment Officer |
| Sunil Rohokale | MD & CEO |
