Smc Global Securities Limited has informed the Exchange about Investor Presentation
SMCGLOBAL · price
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SMC Global Securities reported Q4 FY26 revenue of INR 516.9 crore (+22.6% YoY) with PAT of INR 21.5 crore, sharply up from INR 4.1 crore in Q4 FY25, reflecting market normalization and strategic benefits. However, full-year FY26 saw revenue growth of only 5.7% to INR 1,876.9 crore with PAT declining 29.7% to INR 103.2 crore due to softer derivatives activity and regulatory changes in the F&O segment. EBITDA margins contracted 350 bps to 20.1% for FY26. The company operates three segments: Broking/Distribution/Trading (56% of revenue), NBFC Financing (34%), and Insurance Broking (10%). Insurance broking emerged as the improving vertical with revenue up 17.1% YoY, while NBFC revenue fell 15.1%. Broking DP AUA grew to INR 1,42,703 crore from INR 1,15,048 crore, and the discount brokerage platform StoxKart achieved 15x customer acquisition growth within 8 months through its SmartTrader subscription plan.
Q4 recovery is positive but FY26 full-year margin compression (-350 bps EBITDA) and PAT decline (-29.7%) indicate ongoing headwinds from F&O regulatory changes. The strong Q4 showing suggests seasonality rather than structural turnaround, and investors should monitor whether insurance broking growth can offset core broking weakness in FY27.