ALFA Finder| Management target | Revenue 20.0% 5 years |
|---|
| Revenue growth | Operational income up 21.2% YoY; Insurance segment grew 44.4%. |
|---|---|
| Margins | EBITDA margins at 20.9%; insurance margins moderated by tech investment. |
| Demand visibility | Strong domestic participation in insurance and retail equity markets. |
| Management confidence | Confident in tech-led scale; cautious on NBFC credit quality. |
Growth
Operational income grew 21.2% YoY; Net Profit rose 22.3% YoY. Growth is primarily driven by insurance and cash-market brokerage.
Outlook
Management aspires for 20% CAGR, targeting revenue of ₹6,000-8,000 Cr in 5 years. NBFC AUM target is ₹1,250-1,300 Cr by year-end.
Risks
NBFC AUM declined due to tightening in unsecured loans and lap segments. Transition in derivative regulations creates segment-specific headwinds.
Last quarter's promises, checked
Delivered
- Guided 15%-20% AUM growth → delivered 15%-20% (Targeted) (= BEAT)
- Guided 15% Insurance growth → delivered 17.1% FY26 (= BEAT)
- Guided focus on secured NBFC book → delivered 76.71% secured AUM (= BEAT)
Partly delivered
- Guided StoxKart expansion → delivered 150% revenue growth but 4th in active clients (= PARTIAL)
Missed
- Guided margin stability → delivered FY26 margin compression (= MISS)
- Guided NBFC AUM growth → delivered INR 1,119 Cr vs 1,291 Cr YoY (= MISS)
Earnings Call Transcript filed with NSE, NSE: SMCGLOBAL. Summary written with AI assistance from the document.
SMC Global Securities Ltd: key numbers
- Share price
- ₹95.64
- Market cap
- ₹2,003 Cr
- Revenue (annual)
- ₹1,877 Cr
- Net profit (annual)
- ₹102.0 Cr
- P/E (TTM)
- 17.3×Sector 21.0×
- Promoter holding
- 66.61%-0.10% QoQ
- FII holding
- 2.56%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from SMC Global Securities Ltd
All →SMC Global Securities Other Announcement
SMC Global Securities disclosed that Compliance Officer Rahul Yadav resigned under PIT Regulations, effective 21 November 2026. The company will host the disclosure on its website.
SMC Global Securities Convertible Warrants
SMC Global Securities' EGM on November 6, 2026 passed a special resolution to issue up to 1,00,00,000 fully convertible warrants to non-promoter investors on preferential basis. Voting results and the scrutinizer's report were filed with the exchanges.
SMC Global Securities Convertible Warrants
SMC Global's EGM approved up to 1 crore fully convertible warrants on a preferential basis to non-promoters at ₹106 each. The issue aggregates up to ₹106 crore.
- Value
- ₹106.0 Cr
SMC Global Securities Debt & Borrowing: ₹0.79 Cr
SMC Global Securities paid monthly interest of about Rs.0.12 to Rs.0.25 Crore on four NCD series, each paid on 2 November 2026 after the 1 November due date. No reason for non-payment was reported.
- Value
- ₹0.79 Cr
SMC Global Securities Debt & Borrowing: ₹7.56 Cr
SMC Global paid Rs.7.56 Crore interest on three NCD series on October 30, 2026, on schedule. No delay or non-payment was reported.
- Value
- ₹7.56 Cr
SMC Global Securities Earnings Call Transcript: Key Takeaways
SMC Global delivered solid revenue growth led by NBFC and insurance segments, though derivative trading regulations temporarily dampened broking margins.