SMC Global Securities Ltd.

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smcindiaonline.comBSE: 543263NSE: SMCGLOBAL

Market Cap₹ 1,789 Cr.

Current Price

High / Low₹ 95 / 54

Stock P/E16.4

Book Value₹ 64

Price to Book0.89

Dividend Yield1.40 %

ROCE11.5 %

ROE8.2 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Trading & Distribution: 55.2% • Insurance Broking Services: 35.2% • Financing Services: 9.6%

AI Sector View

AI GENERATED

Financial Services

Buy

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.

Confidence

84%

View full sector analysis →

PROS

Solid return on assets for a lender - ROA of 2.0%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 15.8% CAGR over last 5 years
Company has a consistent dividend-paying track record

CONS

Capital adequacy is tight at 0.0% - limited headroom to grow
Net NPA is elevated at 2.0% - provisioning cushion is thin
Free cash flow has been persistently negative
Company has delivered a poor profit growth of -0.2% over past five years
Valuation is stretched - P/E of 16.4 is well above its own 5-year median (7.0)
Thin net interest margin of 0.0%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Stock Broking

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MCX	3299.00	54.56	84121.81	0.24	413.44	103.47	702.00	88.10	48.10	70.40
2.	MOTILALOFS	1016.00	30.90	61196.04	0.59	1273.71	9.53	3425.76	25.49	12.68	57.49
3.	360ONE	1096.00	35.39	44669.07	1.09	330.53	16.11	1226.09	26.85	12.28	63.01
4.	NUVAMA	1753.50	29.87	32343.15	1.59	305.64	15.83	1376.22	22.59	17.52	52.80
5.	ANGELONE	299.75	26.55	27398.24	1.35	2313.98	1921.51	14296.91	1153.53	14.87	33.92
6.	CHOICEIN	768.70	72.05	17124.83	0.00	60.61	26.37	309.79	32.46	19.43	33.83
7.	IIFLCAPS	337.65	18.67	10642.01	0.89	184.16	4.92	631.48	3.13	23.27	35.76
8.	SHAREINDIA	196.45	11.83	4298.83	0.81	124.41	47.45	448.09	31.25	21.00	44.76
9.	ARSSBL	502.60	24.42	3169.72	0.99	23.35	2.35	246.10	22.37	19.72	39.54
10.	MONARCH	371.00	16.24	2942.34	0.27	45.18	-0.15	90.89	-7.25	33.26	66.00
11.	GEOJITFSL	79.65	30.65	2223.21	1.88	19.83	-30.83	160.40	7.46	9.35	20.55
12.	SMCGLOBAL	85.42	16.43	1788.69	1.40	367.36	1126.58	5150.80	1319.38	11.53	20.76

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	270	347	387	463	406	406	409	384	363	398	436	449	5,151
	233	295	315	371	322	332	344	358	325	356	393	427	4,690
Operating Profit	79	94	113	139	126	119	112	63	100	84	102	90	1,069
OPM %	29.15%	27.09%	29.30%	29.97%	30.92%	29.28%	27.36%	16.42%	27.64%	21.20%	23.45%	19.98%	20.76%
Other Income	1	2	3	1	2	1	2	4	1	2	1	4	5
Interest	33	35	40	47	51	52	51	53	56	51	57	57	555
Depreciation	7	9	8	8	8	7	7	8	7	7	7	7	54
	40	52	67	85	69	61	56	6	38	28	39	29	466
Tax %	24.58%	23.29%	22.58%	22.39%	22.95%	25.22%	21.38%	33.39%	21.92%	24.54%	21.01%	26.77%	21.14%
Net Profit	0	0	0	0	53	46	44	4	30	21	31	21	367
	3	4	5	6	5	4	2	0	3	2	1	1	2

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	522	644	753	779	901	1,106	1,212	1,638	1,776	1,877	6,433
	429	519	594	659	706	825	941	1,215	1,356	1,500	5,866
Operating Profit	92	125	159	120	196	281	271	424	420	376	567
OPM %	17.70%	19.40%	21.11%	15.40%	21.71%	25.39%	22.33%	25.87%	23.63%	20.06%	8.82%
	12	11	7	6	7	18	4	10	10	8	12
Interest	29	47	64	61	43	58	90	157	207	222	721
Depreciation	7	9	11	19	18	20	23	32	30	28	75
Profit before Tax	68	80	91	45	142	221	162	244	192	135	562
Tax %	34.19%	34.45%	17.72%	47.14%	26.46%	21.15%	25.66%	22.99%	23.55%	23.26%	21.59%
Net Profit	45	53	75	24	104	175	120	188	147	103	441
EPS	0.00	0.00	0.00	0.00	9.28	15.43	11.25	17.89	13.92	4.87	—
Dividend Payout %	20.74%	20.38%	14.52%	46.01%	21.57%	15.57%	20.93%	13.42%	17.25%	24.63%	—

COMPOUNDED SALES GROWTH

10 Years:: 17%
5 Years:: 16%
3 Years:: 16%

COMPOUNDED PROFIT GROWTH

10 Years:: 11%
5 Years:: -1%
3 Years:: -5%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 18%
3 Years:: 29%
1 Year:: 25%

RETURN ON EQUITY

10 Years:: 12%
5 Years:: 15%
3 Years:: 13%
Last Year:: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	23	23	23	23	23	23	21	21	21	42
Minority Interest	3	1	1	2	2	2	2	2	3	2
	572	595	658	659	750	903	912	1,075	1,196	1,262
	378	526	752	257	467	482	924	1,454	1,699	2,186
Trade Payables	248	258	250	435	484	711	474	829	901	1,150
	364	372	619	462	630	837	989	1,384	1,111	1,095
Total Liabilities	1,588	1,774	2,304	1,837	2,356	2,957	3,323	4,765	4,931	5,737
	42	37	35	69	64	114	128	131	119	115
Capital Work in Progress	0	0	0	1	0	0	9	27	44	78
	89	136	195	86	117	171	57	70	99	174
	124	5	6	0	13	35	5	6	3	5
	0	0	0	0	0	0	0	523	664	827
Cash & Bank	450	464	520	655	1,097	1,282	1,460	2,342	1,965	2,328
	883	1,133	1,547	1,025	1,064	1,356	1,664	1,665	2,037	2,210
Total Assets	1,588	1,774	2,304	1,837	2,356	2,957	3,323	4,765	4,931	5,737

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	15	-193	-130	829	-373	262	-220	-193	24	-73
Cash from Investing	-69	55	1	-50	-5	-63	-31	-29	-27	-43
Cash from Financing	114	125	150	-596	211	-100	231	316	24	110
	38	-54	-4	159	-188	47	-60	95	21	-5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.28	67.28	67.29	67.30	67.30	67.50	66.76	66.72	66.71
	1.51	2.42	2.75	2.65	2.55	2.41	2.94	2.40	2.14
	0.00	0.00	0.01	0.00	0.01	0.04	0.04	0.01	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	31.22	30.30	29.95	30.04	30.14	30.04	30.25	30.88	31.15

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-07-31

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-31 - Smc Global Securities Limited has informed the Exchange about Transcript

2026-07-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-27 - Smc Global Securities Limited has informed the Exchange about Link of Recording

2026-07-27

Copy of Newspaper Publication

2026-07-27 - Smc Global Securities Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-27

Copy of Newspaper Publication

2026-07-27 - Smc Global Securities Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-27 - Smc Global Securities Limited has informed the Exchange about Presentation

2026-07-26

Resignation of Director/KMP/SMP

2026-07-26 - Smc Global Securities Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-07-26

Resignation

2026-07-26 - Smc Global Securities Limited has informed the Exchange regarding Resignation of Mr Mr. Nikhil Mehta as Other of the company w.e.f. May 30, 2026.

2026-07-26

General Updates

2026-07-26 - Smc Global Securities Limited has informed the Exchange about General Updates

2026-07-26

General Updates

2026-07-26 - Smc Global Securities Limited has informed the Exchange about General Updates

News

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