BSE: 531017
ARIHANTS SECURITIES LTD.
Trades shares and derivatives on its own account. Per the latest segment data available (year ended 31 March 2020), 'Trading of shares and derivatives' is the only revenue-generating line, contributing Rs 0.1028 crore, with the other three reported segments — Loans, Trading of commodities and Others — at zero revenue. FY26 (per filings) total income was Rs 90.82 lakh, a decline from Rs 129.19 lakh in FY25, with profit after tax of Rs 23.26 lakh versus Rs 48.82 lakh the prior year; Q4 FY26 alone swung to a net loss of Rs 29.28 lakh, and the company booked an Other Comprehensive Income loss of Rs 159.34 lakh on write-down of share holdings. Income largely comes from other operating income (interest, dividend and similar receipts) rather than direct trading P&L — Q3 FY26 reported revenue from operations of just Rs 12.52 lakh against 'other operating income' of Rs 14.25 lakh. On the cost side, employee cost (76.8% of revenue) and other operating expenses (198.7% of revenue) dominate, with no material spend on materials, depreciation or capex. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading of shares and derivatives (100%), Loans (0%), Trading of commodities (0%), Others (0%). Very small, BSE-listed proprietary securities trading entity; revenue is dominated by other operating income (dividends, interest) rather than trading P&L.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 1 | 0 |
| EBITDA (ex other income) | (1) | (1) | (1) | 1 | (0) |
| margin % | (626.8) | (256.3) | (421.5) | 51.2 | (175.5) |
| Owners' profit | 1 | 1 | 1 | 0 | 0 |
| EPS, as reported (₹) | 29.98 | 0.19 | 3.69 | (0.33) | (0.27) |
| ROE % · ROCE % | 5.6 · — | 2.6 · — | 2.6 · — | 1.3 · — | 0.6 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | 1 | (0) | (0) | (0) |
| Capex | 0 | 0 | 0 | 0 | 0 |
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 | 1 | 1 | (1) | 0 | 1 | 0 | 0 | 0 |
| Profit before tax | 1 | 1 | (1) | 0 | 1 | 0 | (0) | 0 |
| Net profit | 1 | 1 | (1) | 0 | 0 | 0 | (0) | 0 |
| EPS (₹) | 0.17 | 0.10 | (0.69) | 0.02 | 0.08 | 0.02 | (0.38) | 0.02 |
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. % |
|---|---|---|---|---|---|---|---|---|
| INTL GEMOLOGICAL INST LTD | 17,213 | 28.2 | 11.57 | 16.5 | 47.8 | 58.1 | — | 64.6 |
| WEWORK INDIA MANAGEMENT L | 8,821 | 101.2 | 29.48 | 5.6 | 25.0 | 1.0 | — | 66.5 |
| NESCO LTD. | 7,059 | 16.9 | 2.36 | 11.9 | 13.8 | 14.8 | 26.2 | 68.9 |
| NIRLON LTD | 5,677 | 16.4 | 12.12 | — | 73.8 | 18.1 | — | 79.4 |
| SMARTWORKS COWORKING SP L | 5,439 | 195.1 | 10.25 | 4.6 | 2.0 | 0.3 | — | 65.8 |
| QUESS CORP LIMITED | 4,838 | 19.1 | 4.14 | 14.5 | 19.0 | 14.4 | 7.1 | 2.6 |
| INOX GREEN ENERGY SER LTD | 4,250 | 34.0 | 2.48 | 25.3 | 6.0 | 9.0 | — | 131.6 |
| INDIQUBE SPACES LIMITED | 3,731 | — | 7.25 | — | (20.7) | (2.5) | — | 67.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.3 | 1.3 | 15 of 95 | 84% |
| ROE | 0.6 | 2.9 | 75 of 113 | 34% |
| EBITDA margin | 438.9 | 25.4 | 2 of 92 | 99% |
| Revenue growth | (91.5) | 16.2 | 88 of 91 | 3% |
| Profit growth | (17.4) | 5.2 | 70 of 110 | 37% |
| Market cap | 10 | 47 | 85 of 108 | 22% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Routine Reg 74(5) compliance certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 1 Oct 2026 · Trading window closed ahead of Q2 results | compliance | minimal | — | — |
| 9 Sept 2026 · AGM 2026: All 3 resolutions passed with 97.25% majority | board shareholder meetings | medium | — | — |
| 9 Sept 2026 · 32nd AGM held on Sept 9, 2026; all 3 resolutions transacted | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Notice of 32nd AGM, e-voting and book closure details | compliance | minimal | — | — |
| 18 Aug 2026 · Annual Report FY26 and 32nd AGM notice filed with BSE | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Notice of 32nd AGM via video conferencing on September 9, 2026 | compliance | minimal | — | — |
| 13 Aug 2026 · Board approves FY26 report, sets 32nd AGM on 09 Sept 2026 | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Board meeting on 13 Aug 2026 to consider 32nd AGM notice and Directors Report | board shareholder meetings | low | — | — |
| 1 Aug 2026 · Arihant's Securities Q1 FY27 results published in newspapers | 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.