ASK Investment Managers Ltd - Unlisted Shares
Fundamentals
- Current Price
- ₹1,035
- Market Cap
- ₹9,459.57 Cr
- ISIN
- INE925L01025
- Face Value
- ₹2
- P/E Ratio
- 21.22
- EPS
- ₹48.78
- P/B Ratio
- 5.22
- Book Value
- ₹198.42
- Debt / Equity Ratio
- 0.023
Key Financials
Profit & Loss
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue from Operations | 1,037.72 | 1,062.51 | 936.07 | 909.55 | 646.76 | 588.51 |
| Growth % | -2.33% | 13.51% | 2.92% | 40.63% | 9.90% | 0 |
| Operating Expenses | 661.61 | 592.49 | 515.44 | 518.16 | 370.84 | 359.82 |
| Growth % | 11.67% | 14.95% | -0.52% | 39.73% | 3.06% | 0 |
| Operating Profit | 376.11 | 470.02 | 420.64 | 391.39 | 275.93 | 228.69 |
| Op. Profit Margin % | 36.24% | 44.24% | 44.94% | 43.03% | 42.66% | 38.86% |
| Other Income | 74.47 | 58.21 | 37.71 | 36.26 | 42.96 | 14.20 |
| Finance Costs | 5.05 | 2.70 | 2.73 | 2.67 | 3.06 | 3.65 |
| Depreciation | 16.40 | 10.28 | 15.92 | 14.81 | 12.74 | 12.70 |
| Exceptional Item | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -10.83 |
| Profit Before Tax | 429.13 | 515.25 | 439.70 | 410.18 | 303.09 | 215.71 |
| Tax | -14.42 | 112.66 | 103.85 | 95.79 | 79.00 | 58.00 |
| Tax % | -1.39% | 10.60% | 11.09% | 10.53% | 12.21% | 9.85% |
| Share to associates | 0.00 | 0.00 | -1.33 | -3.73 | 0.95 | 1.25 |
| Profit After Tax | 443.55 | 402.59 | 334.52 | 310.66 | 225.04 | 158.97 |
| Growth % | 10.17% | 20.35% | 7.68% | 38.05% | 41.56% | 0 |
| PAT % | 42.74% | 37.89% | 35.74% | 34.16% | 34.79% | 27.01% |
| Diluted EPS | 48.78 | 43.77 | 37.02 | 37.60 | 26.29 | 18.66 |
Company Financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Equity Capital | 17.43 | 16.87 | 16.74 | 16.42 | 14.46 | 14.50 |
| Reserves | 1,796.04 | 1,543.28 | 1,371.92 | 1,045.07 | 677.67 | 908.45 |
| Total Equity | 1,813.47 | 1,560.15 | 1,388.66 | 1,061.49 | 692.13 | 922.95 |
| Borrowings | 42.60 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Provision | 1.09 | 13.45 | 13.80 | 11.30 | 7.41 | 8.45 |
| Other Non-Current Liabilities | 59.77 | 52.06 | 69.31 | 45.14 | 68.39 | 51.15 |
| Total Non current Liabilities | 103.46 | 65.51 | 83.10 | 56.43 | 75.80 | 59.60 |
| Borrowings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 217.08 | 428.21 | 327.05 | 118.47 | 57.38 | 87.86 |
| Trade Payables | 65.90 | 75.08 | 95.96 | 48.36 | 64.71 | 30.81 |
| Total current Liabilities | 282.98 | 503.29 | 423.01 | 166.83 | 122.09 | 118.66 |
| Equity + Liabilities | 2,199.91 | 2,128.95 | 1,894.78 | 1,284.76 | 890.02 | 1,101.21 |
| Fixed Assets (incl. WIP) | 50.18 | 25.45 | 26.36 | 28.44 | 34.82 | 26.09 |
| Other Non Current Assets | 653.17 | 580.38 | 422.29 | 210.55 | 226.77 | 191.28 |
| Total Non current Assets | 703.35 | 605.83 | 448.65 | 238.98 | 261.60 | 217.38 |
| Trade Receivables | 169.00 | 224.74 | 210.14 | 231.97 | 184.72 | 251.57 |
| Cash & Cash Equivalents | 229.41 | 425.49 | 292.36 | 181.62 | 9.36 | 186.82 |
| Other Current Assets | 1,098.15 | 872.89 | 943.64 | 632.18 | 434.35 | 445.44 |
| Total current Assets | 1,496.56 | 1523.12 | 1,446.13 | 1,045.77 | 628.43 | 883.83 |
| Total Assets | 2,199.91 | 2128.95 | 1,894.78 | 1,284.76 | 890.02 | 1,101.21 |
Shareholding Pattern
- SAMEER KISHORE KOTICHA
- 9.59%
- BCP TOPCO XII PTE. LTD.
- 63.91%
- FORTRESS TRUST
- 7.46%
- OTHERS
- 19.04%
Strengths & Weaknesses
Strengths
- Robust Investment Philosophy:ASKIM has delivered 22% CAGR AUM growth and 23% CAGR revenue growth over the past 15 years, reflecting the strength of its long-term, quality-focused investment approach.
- Strong Brand and Reputation:With ₹79,393 Crores AUM as of March 31, 2025, ASKIM stands among India’s largest discretionary PMS and wealth managers, trusted by HNIs and UHNIs.
- Diversified Product Suite:The company operates across ₹25,014 Crores in Asset Management, ₹48,307 Crores in Wealth Management, and ₹6,072 Crores in Alternatives, providing a broad-based platform.
- Client-Centric Approach:ASKIM serves 18,000+ AMC client folios and 3,600+ wealth families across 25+ locations in India and abroad, backed by 175 relationship managers and strong digital engagement (63% of PANs are digitally active).
Weaknesses
- Concentration Risk:A large share of AUM comes from HNI and UHNI clients — the Wealth Management business alone contributes ₹48,307 Crores (~61% of total AUM). This creates dependence on a relatively narrow client base.
- Market-Linked Performance:Despite strong fundamentals, ASKIM’s 49% cost-to-income ratio in FY 2025 shows higher expenses due to scaling initiatives, which may be pressured further in market downturns. Revenue stability is tied to equity cycles, with 82% of income annuity-based but still linked to market performance.
- Client Dependence:While ASKIM has 3,600+ wealthy families, this is small compared to mutual funds with ~20 Crore demat accounts nationwide, showing limited retail penetration and scale risk if client churn rises.
About ASK Investment Managers Ltd
ASK Investment Managers Limited is one of India's largest domestic providers of discretionary equity Portfolio Management Services (PMS), catering to High Net Worth Individuals (HNIs) and Ultra High Net Worth Individuals (UHNIs)
Board of Directors
- Mr. Sameer Koticha - Non-Executive Director & Chairman
- Mr. Sunil Rohokale - CEO & Managing Director
- Mr. Bharat Shah - Whole-Time Director
- Mr. Rajesh Saluja - Non-Executive Director
- Mr. Amit Dixit - Nominee Director
- Mr. Ganesh Mani - Nominee Director
- Mr. Nitin Rakesh - Nominee Director
- Mr. Prateek Roongta - Nominee Director
- Mr. Milind Barve - Nominee Director
- Ms. Gita Nayyar - Nominee Director
- Mr. Ravindra Pandey - Additional Independent Director
Senior Management
- Mr. Sameer Dev - Managing Director & CEO
- Mr. Arvind Khurana - Chief Financial Officer
- Mr. Prateek Agrawal - Chief Investment Officer
- Mr. Kaustubh Belapurkar - Director – Fund Management
- Mr. Abhishek Bansal - Head – Products
- Mr. Amit Bhardwaj - Head – Compliance & Legal
- Mr. Alok Bansal - Head – Distribution
Frequently Asked Questions
- Is there any lock in period for ASK Investment Managers Ltd unlisted shares?
- The lock-in period for ASK Investment Managers Ltd Unlisted Shares differs based on the investor category, as per SEBI regulations:
● Venture Capital Funds and Foreign Venture Capital Investors (FVCIs):
A lock-in period of 6 months from the date of acquisition of the shares.
● Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
● Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates):
A lock-in period of 6 months from the date of IPO listing of ASK Investment Managers Ltd.
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing. - How much long term capital gains tax do I have to pay on ASK Investment Managers Ltd unlisted shares?
- Long-Term Capital Gains (LTCG) on Unlisted Shares in India arise when such shares are sold after being held for a period of more than two years. The key aspects of LTCG taxation on ASK Investment Managers Ltd unlisted shares are outlined below:
1. Tax Rate
Earlier, LTCG on unlisted shares was taxed at 20% with indexation benefits. However, as per Union Budget 2024, the tax structure has been revised. For transfers made on or after 23rd July 2024, LTCG on unlisted shares is taxed at a flat rate of 12.5%.
2. Indexation Benefit
Previously, investors could avail indexation benefits to adjust the purchase price for inflation, thereby reducing taxable gains.
This indexation benefit has been removed under Budget 2024 for unlisted shares transferred on or after 23rd July 2024.
3. Importance for Investors
Understanding LTCG taxation is important for both retail investors and High Net-Worth Individuals (HNIs), as it directly impacts investment returns, exit planning, and overall tax strategy.
4. Calculation Method
For eligible transactions after 23rd July 2024, LTCG will be calculated at a flat tax rate of 12.5% on the capital gains, without indexation.
5. Applicability
LTCG tax is applicable when unlisted shares are held for more than 24 months before being sold.
6. Relevance
These tax provisions are particularly relevant for investors in the unlisted share market who are considering exiting their investments after a long-term holding period. - How do I start investing in ASK Investment Managers Ltd unlisted shares through InCred Money?
- Buying ASK Investment Managers Ltd Unlisted Shares on InCred Money is quick, seamless, and fully digital.
Step 1: Create Your Account
Sign up using your mobile number and email ID.
Complete your KYC by submitting your PAN, Aadhaar, bank account, and demat account details. Once submitted, your KYC is reviewed and approved.
Step 2: Select & Buy Shares
Browse and select ASK Investment Managers Ltd from our Unlisted Shares list and place your order.
Step 3: Share Transfer
Based on the settlement period for the shares noted on the platform, the purchased shares are transferred and reflected in both your InCred Money portfolio and your demat account. - What documents are needed to invest in ASK Investment Managers Ltd unlisted shares?
- To invest in ASK Investment Managers Ltd Unlisted Shares on InCred Money, you need to complete your KYC verification by submitting the following documents:
● PAN Card
● Aadhaar Card
● Bank account details
● Demat account details
Once your KYC is successfully completed and approved, you can start investing in unlisted shares on the platform.
