SMCGLOBAL
SMC Global Securities share price & financials
- Price
- ₹81.67
- Market cap
- ₹1.7k Cr
- Sector
- Financial Services
- Calls analysed
- 6
SMC Global Securities Limited Q1 FY27
What went well
- Consolidated operational income grew 21.2% YoY to ₹515.1 crores, reflecting a strong overall performance.
- Consolidated PAT increased 22.3% YoY to ₹36.7 crores, demonstrating healthy profitability growth.
- Insurance Broking segment revenue surged 44.4% YoY to ₹167.3 crores, indicating robust demand and market reach.
What to watch
- NBFC AUM declined to ₹1,025 crores from ₹1,118 crores in Q4 FY26 due to strategic discontinuation of LAP and tightening of unsecured business loans.
- Insurance Broking EBIT growth moderated to ₹1.6 crores despite strong revenue growth, attributed to investments in manpower, technology, and distribution.
What SMC Global Securities Limited does
SMC Global Securities Limited, founded in 1994 by Subhash C. Aggarwal and Mahesh C. Gupta, is a diversified financial services group built around three businesses: broking, distribution and trading; NBFC-based financing; and insurance broking. The broking arm covers equity, commodity and currency broking, discount broking under the StoxKart brand, investment banking, wealth and portfolio management, institutional broking, margin trade financing, clearing and depository services, and a stock-broking and clearing member presence at GIFT City IFSC. Its NBFC subsidiary, Moneywise Financial Services, lends through secured products such as SME loan-against-property, working capital term loans, asset finance, micro-LAP, gold loans and supply chain financing. The insurance broking subsidiary, SMC Insurance Brokers, distributes life and general insurance policies and, following an upgrade to a composite broker licence, has begun reinsurance broking.
Segments
- Broking, Distribution & Trading
- Financing (NBFC)
- Insurance Broking
- Branches across India
- 203 (including 1 in Dubai)
- Cities covered
- 396
- Client demat accounts
- 13,20,070
- Employees
- 4017
- Authorised persons
- 2003
- Network of financial distributors
- 6453
Guidance record · Q1 FY27
what the last two calls moved 14 tracked 2 delivered 5 missed 7 open- Cost of Borrowing delivered said Q3 FY26 Promised: 15 to 20 basis point reduction in the next six months Q1 FY27: Management confirmed a reduction in weighted cost of funds by ~25 bps this quarter, successfully meeting and exceeding the target within the 6-month timeframe.
- NBFC Disbursements (excl. LAP/Unsecured) went quiet said Q4 FY26 Promised: we expect growth in the disbursement from this INR 614 crores, we expect it to go above INR 800 crores. Q1 FY27: No specific disbursement figure for the targeted secured products was provided in the Q1 FY27 update.
- NBFC AUM Growth revised down said Q4 FY26 Promised: AUM, we expect to grow at around 15% to 20% during the year. Q1 FY27: AUM declined to 1025 cr. Management revised the FY27 closing target to 'Rs. 1,250-1,300 crores', which represents ~12-16% growth, a dilution from the original 15-20% guidance.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 21.2%, net profit up 23.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 451 | 455 | 421 | 425 | 440 −2% | 495 +9% | 517 +23% | 515 +21% |
| EBITDA | 119 | 112 | 63 | 100 | 84 −29% | 102 −9% | 90 +43% | 107 +7% |
| Net profit | 46 | 44 | 4 | 30 | 21 −54% | 31 −30% | 21 +425% | 37 +23% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −36.3% 1Y
1Y: ₹134.94 on 10 Sept 2025 → ₹86. High ₹143.22 (6 Oct 2025), low ₹55.59 (30 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −1.5%
- 8 May
- Q3 FY26
- +5.4%
- 3 Feb
- Q2 FY26
- −1.8%
- 31 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 15.7% a year over 3 years, FY23 to FY26. Operating margin narrowed to 20.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.2k Cr | ₹1.6k Cr | ₹1.8k Cr | ₹1.9k Cr |
| Operating profit | ₹271 Cr | ₹425 Cr | ₹420 Cr | ₹376 Cr |
| Operating margin | 22.4% | 26.0% | 23.7% | 20.0% |
| Interest | ₹90 Cr | ₹155 Cr | ₹207 Cr | ₹221 Cr |
| Depreciation | ₹22 Cr | ₹32 Cr | ₹30 Cr | ₹28 Cr |
| Net profit | ₹121 Cr | ₹188 Cr | ₹147 Cr | ₹103 Cr |
| Net margin | 10.0% | 11.5% | 8.3% | 5.5% |
| ROCE | 15.0% | 18.0% | 15.0% | 11.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹23 Cr | ₹23 Cr | ₹21 Cr | ₹21 Cr | ₹21 Cr | ₹42 Cr |
| Reserves | ₹750 Cr | ₹903 Cr | ₹912 Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.3k Cr |
| Borrowings | ₹494 Cr | ₹497 Cr | ₹944 Cr | ₹1.5k Cr | ₹2.0k Cr | ₹2.0k Cr |
| Other liabilities | ₹1.1k Cr | ₹1.5k Cr | ₹1.4k Cr | ₹2.2k Cr | ₹2.0k Cr | ₹2.4k Cr |
| Total liabilities | ₹2.4k Cr | ₹2.9k Cr | ₹3.3k Cr | ₹4.7k Cr | ₹5.2k Cr | ₹5.7k Cr |
| Fixed assets | ₹64 Cr | ₹114 Cr | ₹130 Cr | ₹135 Cr | ₹128 Cr | ₹122 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr | ₹10 Cr | ₹27 Cr | ₹54 Cr | ₹79 Cr |
| Investments | ₹117 Cr | ₹171 Cr | ₹57 Cr | ₹70 Cr | ₹82 Cr | ₹174 Cr |
| Other assets | ₹2.2k Cr | ₹2.7k Cr | ₹3.1k Cr | ₹4.5k Cr | ₹5.0k Cr | ₹5.4k Cr |
| Total assets | ₹2.4k Cr | ₹2.9k Cr | ₹3.3k Cr | ₹4.7k Cr | ₹5.2k Cr | ₹5.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse SMC Global Securities Limited
Guides on how to read this kind of business and the numbers that matter.