Smc Global Securities Limited has informed the Exchange about Transcript
SMCGLOBAL · price
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SMC Global Securities reported Q1 FY26 consolidated revenue of ₹425.1 crores (up 0.9% QoQ), EBITDA of ₹100.3 crores (up 59% QoQ) with 23.6% margin, and PAT of ₹30 crores (up 632% QoQ) — the sharp PAT jump aided by a swing from a ₹9.33 crore investment loss in Q4 FY25 to a ₹5.81 crore gain in Q1. Broking/distribution/trading revenue stood at ₹274.9 crores, financing at ₹51 crores (+25% QoQ), and insurance broking at ₹116 crores. The company added 26,000+ new broking clients, grew mutual fund AUM to ₹4,519 crores, and reported NBFC GNPA/NNPA of 3.9%/2.6% with capital adequacy at ~43%. Management guided for 10-12% topline and 15-20% bottomline growth, and targets doubling mutual fund AUM to ₹8,000 crores within a year. Stoxkart, its discount broking arm, opened ~11,000 accounts in Q1 on a ₹99/month subscription model and expects to triple that in Q2.
The QoQ earnings rebound is encouraging, but the PAT surge was largely driven by a one-off investment gain reversal rather than core business strength — investors should focus on underlying operating trends. Guidance of 10-12% revenue and 15-20% profit growth, plus the aggressive mutual fund AUM doubling target, are positive signals, though NBFC asset quality deterioration and weak insurance broking warrant close monitoring.