BSE: 530171
DAULAT SECURITIES LTD.
Operates a share broking and depository services business out of Kolkata, with its single reported segment covering brokerage on securities trades and depository participant services. The filings describe the company as small-scale, noting that quarterly results are not indicative of likely annual results given the nature of its capital market business. The audited FY26 results booked a loss after tax, and the auditor's report included a going concern note flagging uncertainty about the company's ability to continue as a going concern. It is listed on BSE under code 530171, with no segment reporting and no subsidiaries disclosed. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Share broking and depository services. Small, capital-market-dependent share broking and depository services firm
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 1 | 5 | 2 | (1) |
| EBITDA (ex other income) | 1 | 0 | 3 | 0 | (3) |
| margin % | 31.7 | 12.2 | 67.3 | 24.9 | 178.4 |
| Owners' profit | 1 | 0 | 3 | 2 | (2) |
| EPS, as reported (₹) | 3.06 | 2.44 | 6.98 | 3.24 | (3.57) |
| ROE % · ROCE % | 5.7 · 7.3 | 2.6 · 3.3 | 16.7 · 21.8 | 7.4 · 7.3 | (9.2) · (10.1) |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 2,93,525 | (0) | 3 | (1) | (1) |
| Capex | 0 | (0) | (0) | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 1 | (1) | (1) | 1 | (0) | 0 | (3) |
| Profit before tax | 4 | 0 | (1) | (2) | 1 | (0) | 0 | (3) |
| Net profit | 4 | 0 | (1) | (2) | 1 | (0) | 0 | (3) |
| EPS (₹) | 7.49 | 0.98 | (1.36) | (3.88) | 2.62 | (0.35) | 0.06 | (5.90) |
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. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 34,420 | 38.9 | 10.52 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,203 | 18.4 | 3.87 | 8.9 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,251 | — | 2.58 | 38.5 | 4.5 | 5.3 | 32.8 | 4.3 |
| PRIME SECURITIES LIMITED | 947 | 169.1 | 3.69 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 945 | 28.6 | 5.56 | 18.1 | 22.5 | 30.3 | — | 97.5 |
| CENTRUM CAPITAL LIMITED | 903 | — | 0.69 | 9.6 | (21.4) | (2.5) | 49.7 | 29.7 |
| REGENCY FINCORP LIMITED | 564 | 51.6 | 3.52 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 509 | — | 1623.78 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.7 | 1.1 | 44 of 105 | 59% |
| ROCE | (10.1) | 1.8 | 74 of 83 | 11% |
| ROE | (9.2) | 1.3 | 95 of 111 | 15% |
| Debt / Equity | 0.0 | 0.0 | 1 of 77 | 55% |
| EBITDA margin | 106.7 | 25.6 | 11 of 91 | 89% |
| Profit growth | (52.3) | (0.2) | 74 of 109 | 32% |
| Market cap | 14 | 26 | 78 of 113 | 31% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Compliance Certificate under SEBI Regulation 74(5) for quarter ended Sep 2026 | compliance | minimal | — | — |
| 1 Oct 2026 · Board notes MD resignation, names Ajit Kochar as new MD | management changes | critical | — | — |
| 1 Oct 2026 · Board notes MD Jitendra Kochar's resignation, appoints Ajit Kochar as new MD | management changes | critical | — | — |
| 1 Oct 2026 · Trading window closed ahead of Q2 results | compliance | minimal | — | — |
| 22 Sept 2026 · Board meeting to note MD resignation and consider asset monetisation | management changes | high | — | — |
| 22 Sept 2026 · Daulat Securities board to note MD resignation, review asset monetisation | management changes | high | — | — |
| 18 Sept 2026 · 33rd AGM held; voting results submitted | board shareholder meetings | low | — | — |
| 18 Sept 2026 · Daulat Securities 33rd AGM held on Sep 17, 2026; all resolutions approved | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Managing Director Mr. Jitendra Kochar resigns effective 17 Sep 2026 | management changes | critical | — | — |
| 17 Sept 2026 · Daulat Securities 33rd AGM held on 17 Sep 2026; MD Jitendra Kochar resigns | board shareholder meetings | low | — | — |
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.