we hereby submit investor presenation for the earning call Q4 FY 26
SMCGLOBAL · price
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SMC Global Securities reported strong Q4 FY26 recovery with revenue of ₹516.9 Cr (up 22.6% YoY), EBITDA of ₹89.7 Cr (up 42.4%), and PAT of ₹21.5 Cr (up 424.4%) driven by normalized market activity and operating leverage. However, full-year FY26 showed mixed results with revenue growing 5.7% to ₹1,876.9 Cr but profitability declining—EBITDA fell 10.3% and PAT dropped 29.7% due to softer derivatives activity and regulatory changes in the F&O segment. The company operates three segments: Broking/Distribution/Trading (56% revenue), NBFC Financing (34%), and Insurance Broking (10%). Insurance broking emerged as the bright spot with 17.1% revenue growth, helping diversify income. The stock has 13.2 lakh client demat accounts and AUA of ₹1,42,703 Crores across its broking business.
Q4 recovery is encouraging for shareholders, but FY26 margin compression (EBITDA margins down 350 bps to 20.1%) due to F&O regulatory headwinds signals near-term profitability challenges despite revenue growth.