Almondz Global Securities Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Wealth/Broking activities: 55.0% • Corporate Finance: 43.2% • Debt Market Operations: 1.8%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Asset quality is healthy - gross NPA of just 0.0%
- Latest quarter profit grew 291.1% YoY, showing strong momentum
CONS
- Capital adequacy is tight at 0.0% - limited headroom to grow
- Recent results are weak - TTM profit is down 50.1% versus prior year
- A large part of profit comes from other income (64.6% of PBT)
- Company has a low return on capital employed of 7.0%
- Company has a low return on equity of 5.8% over last 3 years
- Promoter holding has decreased over last 2 years: -5.5pp
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MCX | 3185.00 | 52.68 | 81214.90 | 0.25 | 413.44 | 103.47 | 702.00 | 88.10 | 48.10 | 70.40 |
| MOTILALOFS | 1016.00 | 30.90 | 61196.04 | 0.59 | 1273.71 | 9.53 | 3425.76 | 25.49 | 12.68 | 57.49 |
| 360ONE | 1155.00 | 37.30 | 47073.70 | 1.04 | 330.53 | 16.11 | 1226.09 | 26.85 | 12.28 | 63.01 |
| NUVAMA | 1838.70 | 31.28 | 33872.21 | 1.52 | 305.64 | 15.83 | 1376.22 | 22.59 | 17.52 | 52.80 |
| ANGELONE | 285.95 | 25.33 | 26136.87 | 1.42 | 231.40 | 102.15 | 1429.69 | 25.35 | 14.87 | 33.92 |
| CHOICEIN | 767.40 | 71.93 | 17095.87 | 0.00 | 60.61 | 26.37 | 309.79 | 32.46 | 23.09 | 33.83 |
| IIFLCAPS | 338.00 | 18.69 | 10653.05 | 0.89 | 1841.63 | 949.18 | 6314.82 | 922.86 | 23.27 | 35.76 |
| SHAREINDIA | 169.35 | 10.20 | 3705.81 | 0.94 | 124.41 | 47.45 | 448.09 | 31.25 | 21.00 | 44.76 |
| ARSSBL | 515.15 | 25.03 | 3248.87 | 0.97 | 23.35 | 2.35 | 246.10 | 22.37 | 19.72 | 39.54 |
| MONARCH | 383.35 | 16.79 | 3040.29 | 0.26 | 45.18 | -0.15 | 90.89 | -7.25 | 33.26 | 66.00 |
| GEOJITFSL | 82.68 | 31.82 | 2307.78 | 1.81 | 19.83 | -30.83 | 160.40 | 7.46 | 9.35 | 20.55 |
| ALMONDZ | 17.64 | 9.48 | 308.52 | 0.00 | 12.53 | -81.84 | 44.50 | 51.57 | 9.00 | 32.97 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 6 | 8 | 6 | 6 | 6 | 5 | 14 | 6 | 6 | 26 | 4 | 14 | |
| 5 | 5 | 8 | 11 | 8 | 8 | 7 | 8 | 5 | 6 | 24 | 22 | 10 | |
| Operating Profit | 1 | 2 | 32 | 2 | 1 | 1 | 1 | 2 | 3 | 2 | 4 | -2 | 6 |
| OPM % | 16.28% | 26.00% | 430.00% | 39.33% | 10.71% | 9.72% | 12.33% | 11.92% | 46.53% | 29.24% | 13.50% | -34.08% | 40.01% |
| Other Income | 1 | 1 | 1 | 1 | 1 | 0 | 1 | -0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| 1 | 2 | 17 | 2 | 1 | 1 | 1 | 1 | 2 | 0 | 2 | -3 | 5 | |
| Tax % | 44.44% | -2.60% | -0.35% | 19.43% | 27.40% | -5.17% | 8.06% | 82.69% | 30.11% | -22.45% | 47.93% | 11.28% | -3.22% |
| Net Profit | 0 | 2 | 17 | 2 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | -2 | 5 |
| 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 401 | 738 | 676 | 36 | 28 | 28 | 26 | 27 | 28 | 33 | 51 | |
| 403 | 736 | 676 | 37 | 29 | 24 | 23 | 22 | 29 | 30 | 61 | |
| Operating Profit | -2 | 2 | 0 | -1 | -2 | 3 | 2 | 4 | -1 | 3 | -11 |
| OPM % | -0.55% | 0.29% | 0.06% | -1.48% | -6.23% | 12.49% | 9.54% | 15.53% | -2.26% | 9.88% | -21.00% |
| 8 | 4 | 5 | 2 | 3 | 4 | 3 | 3 | 25 | 2 | 1 | |
| Interest | 4 | 4 | 3 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 2 |
| Depreciation | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 2 | 3 |
| Profit before Tax | 0 | 1 | 2 | -1 | -1 | 5 | 4 | 4 | 22 | 3 | 5 |
| Tax % | -355.80% | -10.30% | -5.46% | 32.01% | 124.57% | 27.13% | 23.44% | 19.63% | 2.51% | 36.30% | 12.20% |
| Net Profit | 1 | 2 | 2 | -1 | 0 | 4 | 3 | 3 | 21 | 2 | 4 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | 1.38 | 1.05 | 1.18 | 7.88 | 0.11 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -24%
- 5 Years:
- 4%
- 3 Years:
- 9%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -9%
- 5 Years:
- 45%
- 3 Years:
- -13%
STOCK PRICE CAGR
- 10 Years:
- 25%
- 5 Years:
- 8%
- 3 Years:
- 6%
- 1 Year:
- -9%
RETURN ON EQUITY
- 10 Years:
- 3%
- 5 Years:
- 5%
- 3 Years:
- 6%
- Last Year:
- 1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 17 |
| 106 | 108 | 110 | 109 | 109 | 113 | 116 | 129 | 142 | 147 | |
| 19 | 18 | 10 | 12 | 9 | 11 | 2 | 4 | 4 | 22 | |
| Trade Payables | 3 | 1 | 2 | 14 | 9 | 17 | 20 | 17 | 3 | 0 |
| 15 | 15 | 22 | 5 | 4 | 5 | 6 | 9 | 51 | 37 | |
| Total Liabilities | 158 | 158 | 160 | 155 | 147 | 161 | 160 | 175 | 216 | 224 |
| 33 | 32 | 31 | 2 | 4 | 3 | 2 | 3 | 5 | 9 | |
| 62 | 63 | 69 | 96 | 96 | 97 | 75 | 87 | 90 | 112 | |
| 7 | 8 | 8 | 2 | 2 | 6 | 7 | 9 | 4 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 32 | 23 | |
| Cash & Bank | 17 | 17 | 21 | 12 | 9 | 13 | 17 | 13 | 10 | 6 |
| 39 | 38 | 31 | 44 | 37 | 43 | 57 | 63 | 75 | 73 | |
| Total Assets | 158 | 158 | 160 | 155 | 147 | 161 | 160 | 175 | 216 | 224 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 17 | -0 | 14 | -0 | 4 | -6 | 26 | 2 | 10 | 2 | |
| Cash from Investing | 1 | 1 | -2 | -1 | -1 | 0 | -6 | -12 | -4 | -27 |
| Cash from Financing | -22 | -1 | -8 | -2 | -4 | 1 | -9 | 10 | -10 | 21 |
| -4 | -3 | 4 | -5 | -2 | -2 | 12 | -1 | -4 | -4 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 0.27 | 0.58 | 0.90 | -0.25 | 0.11 | 1.42 | 1.10 | 1.24 | 7.88 | 0.11 |
| Book Value (₹) | 46.98 | 47.57 | 48.46 | 47.96 | 48.22 | 49.72 | 50.85 | 55.88 | 58.88 | 9.52 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.15 | 0.18 | 0.20 | 0.01 | 0.12 | 0.31 | 0.24 | 0.28 | 1.39 | 0.20 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 1.38% | 0.88% | 0.87% | 2.88% | 5.28% | 26.07% | 21.13% | 28.20% | -2.26% | 9.88% |
| Net Margin % | 0.17% | 0.21% | 0.34% | -1.75% | 1.07% | 13.35% | 11.11% | 12.10% | 74.42% | 5.66% |
| ROE % | 0.57% | 1.24% | 1.87% | -0.51% | 0.24% | 2.91% | 2.19% | 2.33% | 13.97% | 1.18% |
| ROCE % | 2.51% | 3.69% | 3.65% | 0.17% | -0.10% | 4.44% | 3.25% | 4.46% | 14.40% | 2.05% |
| 0.41% | 0.96% | 1.46% | -0.41% | 0.20% | 2.39% | 1.77% | 1.92% | 10.81% | 0.86% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 12 | 8 | 8 | 180 | 212 | 164 | 196 | 201 | 302 | 300 |
| Inventory Days | 19 | 4 | 4 | 46 | 23 | 53 | 97 | 112 | 80 | 0 |
| Payable Days | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 30 | 11 | 11 | 226 | 236 | 217 | 294 | 313 | 382 | 300 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.17x | 0.17x | 0.10x | 0.09x | 0.07x | 0.08x | 0.01x | 0.02x | 0.02x | 0.13x |
| Interest Coverage (x) | 1.04x | 1.35x | 1.74x | 0.20x | -0.13x | 6.05x | 6.02x | 2.70x | 21.09x | 5.53x |
| 2.70x | 2.49x | 2.02x | 2.51x | 2.40x | 1.99x | 1.64x | 1.61x | 0.98x | 0.93x | |
| GROWTH | ||||||||||
| Revenue Growth % | -18.64% | 84.19% | -8.35% | -94.61% | -24.08% | -0.20% | -7.24% | 3.80% | 6.71% | 17.96% |
| Operating Profit Growth % | -56.25% | 17.88% | -9.47% | -82.23% | 39.23% | 393.14% | -24.82% | 38.54% | 9.86% | -36.53% |
| Net Profit Growth % | -85.68% | 118.05% | 53.23% | -127.54% | 146.21% | 1149.31% | -22.80% | 13.12% | 556.13% | -91.03% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 533.50% | -98.60% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.24x | 197.18x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.80x | 2.28x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 33.69x | 74.43x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - Almondz Global Securities Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026
2026-09-04 - Letter to Shareholders providing the Weblink of Annual Report of Financial Year 2025-26
2026-09-03 - Almondz Global Securities Limited has informed the Exchange regarding Corrigendum to Other
2026-08-24 - Almondz Global Securities Limited has informed the Exchange regarding Outcome of Board Meeting held on August 24, 2026.
2026-08-24 - Almondz Global Securities Limited has informed the Exchange about Scheme of Arrangement
2026-07-31 - Almondz Global Securities Limited has informed the Exchange regarding 'Unaudited financial results for the Quarter Ended 30th June 2026'.
2026-07-30 - Almondz Global Securities Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-29 - Almondz Global Securities Limited has informed the Exchange regarding Corrigendum to Corrigendum to Press Release dated July 28, 2026
2026-07-28 - Almondz Global Securities Limited has informed the Exchange regarding a press release dated July 28, 2026, titled "Press Release".
News
Recent coverage and analyst commentary for ALMONDZ
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