Unlisted Shares
ASK Investment Managers Limited
ASK Investment Managers Limited (Unlisted)
Verified Unlisted CompanyOff-market Transfer · NSDL / CDSL
About ASK Investment Managers Limited
ASK Investment Managers Limited is one of India's leading discretionary Portfolio Management Services (PMS) and Alternative Investment Fund (AIF) managers. Founded in 2004, the company specializes in listed equity investments with a focus on high-conviction, long-term wealth creation for HNIs, UHNIs, family offices, and institutions. It is backed by Blackstone (majority stakeholder). ASKIM is known for its disciplined investment process, strong risk management, and consistent risk-adjusted returns. The company manages significant AUM through segregated PMS accounts and AIFs.
Share Details
| company Name | ASK Investment Managers Limited (Unlisted) |
| indicative Unlisted Share Price | ₹945 |
| market Capitalization | ₹8,233 Crore (Approx.) |
| lot Size | 100 |
| 52 Week High | ₹1,395 |
| 52 Week Low | ₹925 |
| face Value | ₹2 |
| book Value | ₹208 |
| pe Ratio | 18.58 |
| pb Ratio | 4.5 |
| debt To Equity | 0.02 |
| return On Equity | 25+ |
| total Outstanding Shares | 87,125,755 |
| isin | INE925L01025 |
| depository | NSDL & CDSL |
| pan | AAFCA2302P |
| cin | U65993MH2004PLC147890 |
| rta | Link Intime India Private Limited |
Income Statement (Profit & Loss) (₹ in Crore)
| Particulars | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 909 | 936 | 1,063 | 1,038 |
| EBITDA | 391 | 421 | 471 | 376 |
| EBIT | 376 | 405 | 461 | 360 |
| PBT | 406 | 439 | 516 | 429 |
| Net Profit / Loss (PAT) | 310 | 335 | 403 | 443 |
| EPS | 37.78 | 40.02 | 47.78 | 50.86 |
Key Financial Ratios (Last 3–5 Years)
| Ratio | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net Profit Margin (%) | 34.1 | 35.79 | 37.91 | 42.68 |
| EBITDA Margin (%) | 43.01 | 44.98 | 44.31 | 36.22 |
| Debt-to-Equity | Negligible | 0 | 0 | 0.02 |
| EPS | 37.78 | 40.02 | 47.78 | 50.86 |
Financial Annual Report Summary
Strong profitability with high margins typical of asset management business. Revenue stable with marginal decline in FY25, but PAT improved due to lower tax and better other income. Excellent ROE and negligible debt highlight financial strength.
Why Invest in ASK Investment Managers
- High-margin, annuity-based revenue model with strong cash conversion.
- PAT grew steadily; FY25 showed improved bottom line despite slight revenue dip.
- Negligible debt and robust balance sheet position the company well for growth.
- Valuations remain attractive for a premium asset management franchise.
Balance Sheet - Assets (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Fixed Assets | 34 | 29 | 25 | 19 |
| Investments | 621 | 895 | 1,127 | 1,393 |
| Trade Receivables | 232 | 210 | 225 | 169 |
| Other Assets | 397 | 760 | 754 | 618.61 |
| Total Assets | 1,285 | 1,895 | 2,131 | 2,200 |
Balance Sheet - Liabilities & Equity (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Share Capital | 16.41 | 16.74 | 16.87 | 17.42 |
| Reserves & Surplus | 1,045 | 1,372 | 1,542 | 1,796 |
| Borrowings | 0 | 0 | 0 | 0 |
| Trade Payables & Other Liabilities | 223.59 | 506.26 | 572.13 | 386.58 |
| Total Liabilities & Equity | 1,285 | 1,895 | 2,131 | 2,200 |
Liabilities Breakdown & Balance Sheet Insights
Balance Sheet Insights
Strong growth in investments and reserves. Debt-free balance sheet with high liquidity.
Liabilities Breakdown
Minimal borrowings. Liabilities mainly consist of trade payables and operational provisions.
Additional Insights
Extremely healthy and liquid balance sheet. Equity-heavy with significant reserves supporting future growth and dividend payouts.
Cash Flow Insights
- Consistent positive operating cash flows driven by core fee income.
- Financing cash flows reflect regular dividend distributions.
- Strong cash generation supports business scalability.
Shareholding Pattern
Recent
Promoter: ~17-82% (Blackstone majority + founders)
Institutional: High (Blackstone)
Public: Minimal
Promoters & Management
Blackstone holds majority stake. Professional management with deep experience in asset & wealth management.
Key Management
Sunil Rohokale - MD & CEO
30+ Years
Bharat Shah - Whole-time Director
30+ Years
Sumit Jain - Chief Investment Officer
20+ Years
Registrar & Transfer Agent (RTA)
Registrar: Link Intime India Private Limited
Website: https://www.linkintime.co.in/
Management Analysis
Experienced leadership focused on delivering superior risk-adjusted returns and client-centric solutions in the Indian equity market.
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