NSE: 5PAISA · BSE: 540776
5PAISA CAPITAL LIMITED
Operates a retail-focused discount broking platform listed on NSE and BSE, serving individual investors trading in Indian equities, derivatives and mutual funds. Revenue comes mainly from two streams: trading fees and commissions (brokerage on F&O and cash segments) and interest income on its margin trading facility (MTF) and T+5 funding book. In Q1 FY27, total revenue from operations was ₹88.4 cr, split between ₹46.16 cr of fees income and ₹42.17 cr of interest income. The company holds roughly 2% market share in both F&O and cash segments, with 52.6 lakh active customers and 23.8 mn app installs. The cost structure is dominated by other operating expenses (40.8% of revenue — covering technology, marketing and exchange-related costs) and employee costs (27.7% of revenue). A ₹468 cr rights issue completed in April 2026 strengthened the balance sheet, with ₹227 cr deployed into exchange margin deposits to scale the margin book. The platform is adding AI-driven features (AlgoSpace, an MCP AI trading companion), and the company is acquiring Giskard Datatech (a data analytics firm) for up to ₹121.57 cr to bring AI and analytics capabilities in-house. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading fees and commissions, Interest income, Mutual fund distribution and other fees. Tech-led retail broking with margin trading, T+5 funding and mutual fund distribution.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 297 | 338 | 395 | 360 | 320 |
| EBITDA (ex other income) | 44 | 86 | 110 | 127 | 101 |
| margin % | 14.9 | 25.5 | 27.9 | 35.3 | 31.5 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 4.72 | 14.42 | 17.65 | 21.86 | 14.14 |
| ROE % · ROCE % | 3.7 · — | 9.4 · — | 10.1 · — | 11.3 · 8.4 | 6.8 · — |
| Debt / equity (x) | — | — | — | 0.36 | — |
| Cash from operations | (141) | 25 | (92) | 98 | (104) |
| Capex | (7) | (14) | (19) | (8) | (7) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 101 | 85 | 71 | 78 | 77 | 79 | 85 | 88 |
| Profit before tax | 29 | 22 | 13 | 15 | 13 | 17 | 15 | 15 |
| Net profit | 22 | 16 | 10 | 12 | 9 | 12 | 11 | 12 |
| EPS (₹) | 7.02 | 5.18 | 3.22 | 3.70 | 3.04 | 3.94 | 3.47 | 2.60 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BILLIONBRAINS GARAGE VN L | 1,18,587 | 47.7 | 12.29 | 40.3 | 21.6 | 28.9 | — | 67.8 |
| MOTILAL OSWAL FIN LTD | 58,414 | 29.5 | 4.51 | — | 14.5 | — | 20.9 | 57.7 |
| 360 ONE WAM LIMITED | 40,426 | 31.9 | 4.11 | — | 12.4 | — | 22.0 | 66.8 |
| NUVAMA WEALTH MANAGE LTD | 31,818 | 15.0 | 7.72 | — | 25.2 | — | — | 53.0 |
| ANGEL ONE LIMITED | 26,734 | 5.0 | 4.35 | — | 14.9 | — | 32.4 | 34.2 |
| IIFL CAPITAL SERVICES LTD | 10,845 | 18.9 | 3.53 | — | 18.4 | — | 25.1 | 50.0 |
| SHARE IND. SECURITIES LTD | 3,863 | 10.6 | 1.46 | — | 12.2 | — | 26.8 | 45.5 |
| ANAND RATHI SH N STK BR L | 2,970 | 18.6 | 2.20 | 9.8 | 9.6 | 11.5 | — | 31.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 26.1 | 15.0 | 26 of 33 | 22% |
| P/B | 2.5 | 1.6 | 26 of 40 | 36% |
| ROE | 6.8 | 9.6 | 25 of 40 | 39% |
| EBITDA margin | 29.6 | 31.2 | 21 of 39 | 47% |
| Revenue growth | 13.7 | 22.4 | 21 of 35 | 41% |
| Profit growth | 0.2 | 13.4 | 26 of 38 | 32% |
| Market cap | 1594 | 413 | 13 of 42 | 71% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · 5paisa Capital Q2 FY27 earnings call transcript filed | investor communications | medium | — | — |
| 17 Oct 2026 · Newspaper publication of Q2 FY26 unaudited results | compliance | minimal | — | — |
| 16 Oct 2026 · 5paisa Capital Rights Issue funds fully utilised, no deviations reported | fund raising | medium | — | — |
| 15 Oct 2026 · 5paisa Capital Q2FY27: Revenue up 12% YoY, PAT down 26% YoY | results | high | — | — |
| 15 Oct 2026 · 5Paisa Capital Q2 FY27 Investor Presentation: PAT Falls 39% QoQ | investor communications | medium | — | — |
| 15 Oct 2026 · Board revises authorized KMPs for materiality determination | compliance | minimal | — | — |
| 15 Oct 2026 · 5paisa Capital Q2 FY27 Results: PAT Down 26% YoY, IFSC Branch Approved | results | high | — | — |
| 13 Oct 2026 · 5paisa Capital sets Q2 FY27 earnings call for Oct 16, 2026 | board shareholder meetings | low | — | — |
| 9 Oct 2026 · 5paisa Capital updates on preferential equity issue via share swap | fund raising | high | — | — |
| 9 Oct 2026 · 5paisa Capital files quarterly dematerialisation confirmation certificate | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.