Rikhav Securities FY26 Annual Report: Revenue surges, PAT falls

Revenue Growth 20pctEbitda Margin CompressionExceptional ItemResults View source PDF Explain this filing

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AI summary

Rikhav Securities posted FY26 total income of about Rs 1,991.6 crore, up sharply from Rs 327.8 crore in FY25, partly due to a shift to gross revenue recognition. However, PAT declined to Rs 19.0 crore from Rs 23.7 crore, and EBITDA margin compressed to roughly 1.6 percent. The chairman cited losses on older cash-market positions and higher technology depreciation as drags. The company invested about Rs 5.4 crore in tech upgrades, scaled its Margin Trading Facility, and plans to diversify toward proprietary trading, brokerage and institutional business.

Likely market impact

Mixed year: revenue surged but profitability fell due to trading losses and higher tech depreciation. Margin compression is a concern, though diversification plans may support future earnings.