SMC Global Securities Ltd.

•

smcindiaonline.comBSE: 543263NSE: SMCGLOBAL

Market Cap₹ 1,697 Cr.

Current Price

High / Low₹ 95 / 54

Stock P/E20.3

Book Value₹ 50

Price to Book1.14

Dividend Yield1.48 %

ROCE12.6 %

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 been maintaining a healthy dividend payout of 30.9%
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
A large part of profit comes from other income (30.1% of PBT)
Free cash flow has been persistently negative
Company has delivered a poor profit growth of 1.6% over past five years
Valuation is stretched - P/E of 20.3 is well above its own 5-year median (9.3)

* 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	3275.00	54.16	83509.83	0.24	413.44	103.47	702.00	88.10	48.10	70.40
2.	MOTILALOFS	1035.00	31.48	62340.45	0.58	1273.71	9.53	3425.76	25.49	12.68	57.49
3.	360ONE	1137.00	36.72	46340.08	1.06	330.53	16.11	1226.09	26.85	12.28	63.01
4.	NUVAMA	1815.65	30.89	33447.59	1.53	305.64	15.83	1376.22	22.59	17.52	52.80
5.	ANGELONE	298.00	26.39	27238.29	1.36	2313.98	1921.51	14296.91	1153.53	14.87	33.92
6.	CHOICEIN	760.75	71.30	16947.72	0.00	60.61	26.37	309.79	32.46	19.43	33.83
7.	IIFLCAPS	340.50	18.82	10731.84	0.88	184.16	4.92	631.48	3.13	23.27	35.76
8.	SHAREINDIA	170.60	10.27	3733.16	0.94	124.41	47.45	448.09	31.25	21.00	44.76
9.	ARSSBL	514.10	24.98	3242.24	0.97	23.35	2.35	246.10	22.37	19.72	39.54
10.	MONARCH	378.40	16.57	3001.03	0.26	45.18	-0.15	90.89	-7.25	33.26	66.00
11.	GEOJITFSL	82.64	31.80	2306.67	1.82	19.83	-30.83	160.40	7.46	9.35	20.55
12.	SMCGLOBAL	81.02	15.59	1696.56	1.48	367.36	1126.58	5150.80	1319.38	11.53	20.76

Detailed Comparison with:

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
	141	167	178	208	207	213	181	160	193	181	198	186	2,734
	131	146	145	163	167	170	166	164	184	169	180	184	2,485
Operating Profit	49	61	71	87	81	85	57	35	62	48	76	66	716
OPM %	35.02%	36.62%	39.82%	42.10%	38.91%	39.84%	31.45%	21.63%	32.15%	26.26%	38.31%	35.33%	26.18%
Other Income	22	3	5	1	15	2	2	13	9	1	10	10	66
Interest	20	20	25	30	33	34	33	34	38	35	42	44	427
Depreciation	5	7	6	5	6	5	6	6	5	6	6	6	39
	46	36	45	53	57	46	20	7	28	8	38	26	316
Tax %	13.97%	23.21%	23.01%	25.95%	18.99%	24.76%	23.24%	-14.95%	17.75%	24.79%	18.07%	21.37%	20.54%
Net Profit	39	28	35	39	46	35	16	9	23	6	31	21	251
	4	3	3	4	4	3	1	0	2	1	2	1	1

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	356	406	425	422	501	670	679	853	924	968	3,300
	293	340	362	359	376	450	497	584	667	717	3,017
Operating Profit	63	66	62	63	126	220	182	269	257	252	283
OPM %	17.75%	16.19%	14.71%	14.90%	25.06%	32.83%	26.78%	31.51%	27.82%	25.98%	8.57%
	6	20	19	32	20	14	14	31	31	30	88
Interest	21	33	39	44	28	38	59	96	134	159	547
Depreciation	4	5	9	14	12	14	17	24	23	22	56
Profit before Tax	45	48	33	38	105	182	120	180	131	101	389
Tax %	34.10%	32.02%	0.91%	20.83%	28.79%	20.62%	22.10%	21.63%	19.75%	19.41%	20.45%
Net Profit	29	33	33	30	75	145	93	141	105	81	310
EPS	0.00	0.00	0.00	0.00	6.62	12.78	8.72	13.47	10.05	3.88	—
Dividend Payout %	32.40%	33.18%	32.92%	36.53%	30.19%	18.78%	26.91%	17.82%	23.87%	30.90%	—

COMPOUNDED SALES GROWTH

10 Years:: 16%
5 Years:: 14%
3 Years:: 13%

COMPOUNDED PROFIT GROWTH

10 Years:: 25%
5 Years:: 2%
3 Years:: -5%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 16%
3 Years:: 26%
1 Year:: 20%

RETURN ON EQUITY

10 Years:: 10%
5 Years:: 14%
3 Years:: 12%
Last Year:: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	533	556	578	588	649	771	747	863	942	976
	218	270	517	65	246	163	401	657	868	1,420
Trade Payables	183	184	204	297	398	636	377	717	735	936
	282	316	591	432	638	809	983	1,379	1,051	1,166
Total Liabilities	1,239	1,348	1,912	1,404	1,953	2,401	2,529	3,637	3,617	4,540
	24	28	28	48	48	100	100	98	95	92
Capital Work in Progress	0	0	0	0	0	0	9	27	44	78
	357	499	468	440	484	553	420	402	431	502
	85	0	6	0	13	24	0	0	0	0
	0	0	0	0	0	0	0	446	549	651
Cash & Bank	324	342	470	562	1,041	1,193	1,368	2,210	1,755	2,174
	449	478	940	354	367	532	632	454	743	1,042
Total Assets	1,239	1,348	1,912	1,404	1,953	2,401	2,529	3,637	3,617	4,540

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-47	5	-171	706	-256	277	-55	-134	-111	-162
Cash from Investing	-55	-36	10	-97	12	-57	-9	1	2	-82
Cash from Financing	97	16	193	-487	125	-154	49	166	72	282
	-17	-34	26	114	-140	30	-36	33	-38	38

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	2.59	2.89	2.92	2.63	6.62	12.78	8.92	13.47	10.05	3.88
Book Value (₹)	49.15	51.12	53.05	53.94	59.35	70.11	73.35	84.41	91.94	48.62
Dividend per Share (₹)	0.84	0.96	0.96	0.96	2.00	2.40	2.40	2.40	2.40	1.20
Cash EPS (₹)	1.45	1.67	1.86	1.93	3.83	7.03	5.27	7.89	6.12	4.93
PROFITABILITY
Operating Margin %	19.46%	21.14%	19.19%	22.54%	28.99%	34.94%	28.91%	31.51%	27.82%	25.98%
Net Margin %	8.25%	8.07%	7.77%	7.05%	14.95%	21.59%	13.75%	16.53%	11.39%	8.40%
ROE %	5.36%	5.77%	5.60%	4.91%	11.69%	19.75%	11.96%	17.08%	11.40%	8.21%
ROCE %	9.48%	10.03%	7.38%	9.06%	16.84%	23.70%	17.10%	20.59%	15.91%	12.64%
	2.55%	2.53%	2.02%	1.79%	4.46%	6.64%	3.79%	4.57%	2.90%	1.99%
EFFICIENCY
Debtor Days	294	296	442	385	150	139	157	162	196	226
Inventory Days	119	0	5	0	10	10	6	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	413	296	447	385	160	149	163	162	196	226
FINANCIAL HEALTH
Debt to Equity (x)	0.37x	0.46x	0.86x	0.11x	0.36x	0.19x	0.50x	0.73x	0.88x	1.26x
Interest Coverage (x)	3.10x	2.48x	1.85x	1.86x	4.72x	5.86x	3.02x	2.88x	1.98x	1.63x
	1.23x	1.05x	1.04x	1.05x	1.07x	1.08x	1.15x	1.21x	1.59x	1.58x
GROWTH
Revenue Growth %	58.32%	14.03%	4.74%	-0.68%	18.83%	33.64%	1.38%	25.62%	8.34%	4.74%
Operating Profit Growth %	119.78%	23.89%	-4.95%	16.64%	52.84%	61.09%	-16.12%	52.72%	-3.88%	-2.18%
Net Profit Growth %	241.27%	11.59%	0.79%	-9.89%	152.07%	92.96%	-35.43%	51.04%	-25.36%	-22.75%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	51.04%	-25.36%	-61.37%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	9.25x	5.20x	14.29x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.48x	1.14x	1.14x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.93%	2.30%	2.16%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-0.88x	0.64x	0.97x

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

Recent coverage and analyst commentary for SMCGLOBAL

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Free 5nance Account

Name

MCX

3275.00

54.16

83509.83

0.24

413.44

103.47

702.00

88.10

48.10

70.40

MOTILALOFS

1035.00

31.48

62340.45

0.58

1273.71

9.53

3425.76

25.49

12.68

57.49

360ONE

1137.00

36.72

46340.08

1.06

330.53

16.11

1226.09

26.85

12.28

63.01

NUVAMA

1815.65

30.89

33447.59

1.53

305.64

15.83

1376.22

22.59

17.52

52.80

ANGELONE

298.00

26.39

27238.29

1.36

2313.98

1921.51

14296.91

1153.53

14.87

33.92

CHOICEIN

760.75

71.30

16947.72

0.00

60.61

26.37

309.79

32.46

19.43

33.83

IIFLCAPS

340.50

18.82

10731.84

0.88

184.16

4.92

631.48

3.13

23.27

35.76

SHAREINDIA

170.60

10.27

3733.16

0.94

124.41

47.45

448.09

31.25

21.00

44.76

ARSSBL

514.10

24.98

3242.24

0.97

23.35

2.35

246.10

22.37

19.72

39.54

MONARCH

378.40

16.57

3001.03

0.26

45.18

-0.15

90.89

-7.25

33.26

66.00

GEOJITFSL

82.64

31.80

2306.67

1.82

19.83

-30.83

160.40

7.46

9.35

20.55

SMCGLOBAL

81.02

15.59

1696.56

1.48

367.36

1126.58

5150.80

1319.38

11.53

20.76

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

141

167

178

208

207

213

181

160

193

181

198

186

2,734

131

146

145

163

167

170

166

164

184

169

180

184

2,485

Operating Profit

716

OPM %

35.02%

36.62%

39.82%

42.10%

38.91%

39.84%

31.45%

21.63%

32.15%

26.26%

38.31%

35.33%

26.18%

Other Income

Interest

427

Depreciation

316

Tax %

13.97%

23.21%

23.01%

25.95%

18.99%

24.76%

23.24%

-14.95%

17.75%

24.79%

18.07%

21.37%

20.54%

Net Profit

251

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

356

406

425

422

501

670

679

853

924

968

3,300

293

340

362

359

376

450

497

584

667

717

3,017

Operating Profit

126

220

182

269

257

252

283

OPM %

17.75%

16.19%

14.71%

14.90%

25.06%

32.83%

26.78%

31.51%

27.82%

25.98%

8.57%

Interest

134

159

547

Depreciation

Profit before Tax

105

182

120

180

131

101

389

Tax %

34.10%

32.02%

0.91%

20.83%

28.79%

20.62%

22.10%

21.63%

19.75%

19.41%

20.45%

Net Profit

145

141

105

310

EPS

0.00

6.62

12.78

8.72

13.47

10.05

3.88

—

Dividend Payout %

32.40%

33.18%

32.92%

36.53%

30.19%

18.78%

26.91%

17.82%

23.87%

30.90%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

533

556

578

588

649

771

747

863

942

976

218

270

517

246

163

401

657

868

1,420

Trade Payables

183

184

204

297

398

636

377

717

735

936

282

316

591

432

638

809

983

1,379

1,051

1,166

Total Liabilities

1,239

1,348

1,912

1,404

1,953

2,401

2,529

3,637

3,617

4,540

100

Capital Work in Progress

357

499

468

440

484

553

420

402

431

502

446

549

651

Cash & Bank

324

342

470

562

1,041

1,193

1,368

2,210

1,755

2,174

449

478

940

354

367

532

632

454

743

1,042

Total Assets

1,239

1,348

1,912

1,404

1,953

2,401

2,529

3,637

3,617

4,540

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-47

-171

706

-256

277

-55

-134

-111

-162

Cash from Investing

-55

-36

-97

-57

-9

-82

Cash from Financing

193

-487

125

-154

166

282

-17

-34

114

-140

-36

-38

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

2.59

2.89

2.92

2.63

6.62

12.78

8.92

13.47

10.05

3.88

Book Value (₹)

49.15

51.12

53.05

53.94

59.35

70.11

73.35

84.41

91.94

48.62

Dividend per Share (₹)

0.84

0.96

2.00

2.40

1.20

Cash EPS (₹)

1.45

1.67

1.86

1.93

3.83

7.03

5.27

7.89

6.12

4.93

PROFITABILITY

Operating Margin %

19.46%

21.14%

19.19%

22.54%

28.99%

34.94%

28.91%

31.51%

27.82%

25.98%

Net Margin %

8.25%

8.07%

7.77%

7.05%

14.95%

21.59%

13.75%

16.53%

11.39%

8.40%

ROE %

5.36%

5.77%

5.60%

4.91%

11.69%

19.75%

11.96%

17.08%

11.40%

8.21%

ROCE %

9.48%

10.03%

7.38%

9.06%

16.84%

23.70%

17.10%

20.59%

15.91%

12.64%

2.55%

2.53%

2.02%

1.79%

4.46%

6.64%

3.79%

4.57%

2.90%

1.99%

EFFICIENCY

Debtor Days

294

296

442

385

150

139

157

162

196

226

Inventory Days

119

Payable Days

413

296

447

385

160

149

163

162

196

226

FINANCIAL HEALTH

Debt to Equity (x)

0.37x

0.46x

0.86x

0.11x

0.36x

0.19x

0.50x

0.73x

0.88x

1.26x

Interest Coverage (x)

3.10x

2.48x

1.85x

1.86x

4.72x

5.86x

3.02x

2.88x

1.98x

1.63x

1.23x

1.05x

1.04x

1.05x

1.07x

1.08x

1.15x

1.21x

1.59x

1.58x

GROWTH

Revenue Growth %

58.32%

14.03%

4.74%

-0.68%

18.83%

33.64%

1.38%

25.62%

8.34%

4.74%

Operating Profit Growth %

119.78%

23.89%

-4.95%

16.64%

52.84%

61.09%

-16.12%

52.72%

-3.88%

-2.18%

Net Profit Growth %

241.27%

11.59%

0.79%

-9.89%

152.07%

92.96%

-35.43%

51.04%

-25.36%

-22.75%

0.00%

51.04%

-25.36%

-61.37%

VALUATION

P/E (x)

0.00x

9.25x

5.20x

14.29x

P/B (x)

0.00x

1.48x

1.14x

Dividend Yield %

0.00%

1.93%

2.30%

2.16%

0.00x

-0.88x

0.64x

0.97x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

67.28

67.29

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

0.01

0.00

0.01

0.04

0.01

0.00

Government

0.00

31.22

30.30

29.95

30.04

30.14

30.04

30.25

30.88

31.15

SMC Global Securities Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

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Shareholding Pattern

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SMC Global Securities Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI