NSE: DAMCAPITAL · BSE: 544316
DAM CAPITAL ADVISORS LTD
Operates as a SEBI-registered merchant banker, stock broker and research analyst, earning the bulk of its money from advisory fees on equity capital markets (ECM) transactions and, to a lesser extent, from broking commissions on institutional equity trades. For FY26, investment banking contributed ₹151.15 cr (63.7% of segment revenue) and delivered ₹87.6 cr of EBIT, while stock broking contributed ₹70.67 cr (29.8%) but posted an EBIT loss of ₹5.15 cr. In FY26 the firm executed 18 ECM transactions that collectively raised over ₹19,000 cr and held a pipeline of 25 IPO mandates, while cumulatively it has executed 96 ECM transactions raising ₹1,60,000+ cr since November 2019. The cost base is overwhelmingly staff-driven — employee costs alone account for 37.8% of revenue — with other opex at 7.5%, depreciation at 6% and capex at just 2.5% of revenue. The balance sheet is net cash and debt-free, with net cash of ₹311 cr as of FY26 against total assets of ₹453.15 cr. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Investment banking (64%), Stock broking (30%), Unallocated (6%). Cyclical, fee-driven capital markets franchise with no manufacturing or capital intensity
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 250 | 237 |
| EBITDA (ex other income) | 146 | 121 |
| margin % | 58.5 | 50.9 |
| Owners' profit | 0 | 0 |
| EPS, as reported (₹) | 14.68 | 10.28 |
| ROE % · ROCE % | 39.3 · — | 21.9 · — |
| Debt / equity (x) | — | — |
| Cash from operations | 96 | 37 |
| Capex | (13) | (6) |
Exhibit 2: Quarterly performance, last 7 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Revenue | 104 | 37 | 31 | 107 | 70 | 29 | 30 |
| Profit before tax | 69 | 9 | 0 | 70 | 27 | 0 | 0 |
| Net profit | 52 | 9 | 0 | 52 | 20 | 0 | 0 |
| EPS (₹) | 7.29 | 1.20 | 0.03 | 7.38 | 2.84 | 0.04 | 0.02 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Stock Broking | 71 | 29.8 |
| Investment banking | 151 | 63.7 |
| Unallocated | 15 | 6.4 |
| Total, before eliminations | 237 | 100.0 |
Exhibit 4: 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 | 1,16,321 | 46.8 | 12.05 | 39.5 | 21.6 | 28.9 | — | 67.8 |
| MOTILAL OSWAL FIN LTD | 58,348 | 29.4 | 4.50 | — | 14.5 | — | 20.9 | 57.7 |
| 360 ONE WAM LIMITED | 39,572 | 31.3 | 4.02 | — | 12.4 | — | 22.0 | 66.8 |
| NUVAMA WEALTH MANAGE LTD | 30,763 | 14.5 | 7.46 | — | 25.2 | — | — | 53.0 |
| ANGEL ONE LIMITED | 26,419 | 4.9 | 4.30 | — | 14.9 | — | 32.4 | 34.2 |
| IIFL CAPITAL SERVICES LTD | 10,720 | 18.6 | 3.49 | — | 18.4 | — | 25.1 | 50.0 |
| SHARE IND. SECURITIES LTD | 3,868 | 10.7 | 1.46 | — | 12.2 | — | 26.8 | 45.5 |
| ANAND RATHI SH N STK BR L | 2,955 | 18.6 | 2.19 | 9.7 | 9.6 | 11.5 | — | 31.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.0 | 15.1 | 13 of 33 | 63% |
| P/B | 2.9 | 1.7 | 28 of 40 | 31% |
| ROE | 21.9 | 9.6 | 5 of 40 | 90% |
| EBITDA margin | 20.3 | 31.2 | 30 of 39 | 24% |
| Revenue growth | (3.2) | 22.4 | 28 of 35 | 21% |
| Profit growth | (34.8) | 13.4 | 34 of 38 | 11% |
| Market cap | 946 | 409 | 17 of 42 | 61% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board meeting to approve September 2026 quarterly and half-year results | results | low | — | — |
| 8 Oct 2026 · DAM Capital files Reg 74(5) demat confirmation for Q2 FY27 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 8 Sept 2026 · 33rd AGM Results: All 10 Resolutions Passed, Final Dividend of Re. 1 per Share Approved | board shareholder meetings | low | — | — |
| 8 Sept 2026 · DAM Capital: All 10 resolutions passed at 33rd AGM; Re.1 dividend declared | board shareholder meetings | low | — | — |
| 8 Sept 2026 · DAM Capital 33rd AGM: Rs 1 dividend, MD re-appointment, ESOP amendments | board shareholder meetings | medium | — | — |
| 8 Sept 2026 · 33rd AGM held; Re 1 final dividend; ESOP 2024 amendments approved | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Corrigendum to 33rd AGM Notice - E-voting cut-off date corrected | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Notice of 33rd AGM and e-voting information | compliance | minimal | — | — |
| 13 Aug 2026 · Newspaper publication of Q1 FY26-27 unaudited financial results | 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.