Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · DB (INT) STOCK BROKERS · 11 September 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
DB (INT) STOCK BROKERS NSE: DBSTOCKBRO · BSE: 530393
Operates as a SEBI-registered stock broker, depository participant and mutual fund distributor, with offices in GIFT City (Gandhinagar), Delhi and Noida, and is listed on both NSE and BSE. Revenue is earned from brokerage and trading commissions on equity, derivative and other securities transactions executed on the Indian exchanges for clients, fees from depository (demat) services for holding securities, and distribution commissions earned on third-party mutual fund products sold to clients. For FY26 the standalone revenue base was ₹27.65 crore against total assets of ₹115.98 crore, generating a standalone net profit of ₹3.11 crore at an EBITDA margin of 24.5%. Costs are dominated by other operating expenses at 51.3% of revenue and employee costs at 23.7%, with no materials cost line, consistent with a service-led capital markets intermediary rather than a manufacturing or commodities business. Depreciation runs at 4.4% of revenue and capex at 3.6%, indicating a relatively light asset base outside financial assets held on the balance sheet. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Stock broking, Depository participant services, Mutual fund distribution. Cyclical, fee-based capital markets intermediary spanning broking, depository and mutual fund distribution
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
29
29
48
42
28
EBITDA (ex other income)
12
10
16
11
7
margin %
41.4
35.2
33.3
25.1
24.4
Owners' profit
0
0
0
0
0
EPS, as reported (₹)
2.47
1.82
2.59
1.65
0.89
ROE % · ROCE %
17.0 · 22.0
11.1 · 16.9
13.6 · —
7.9 · —
4.1 · —
Debt / equity (x)
0.03
0.02
0.00
0.00
0.00
Cash from operations
23
14
(5)
3
5
Capex
(1)
(3)
(0)
(1)
(1)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · DB (INT) STOCK BROKERS · 11 September 2026Page 2 of 3
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
12
9
8
7
8
7
6
10
Profit before tax
2
1
2
1
1
1
1
1
Net profit
1
1
1
1
1
1
0
1
EPS (₹)
0.41
0.30
0.38
0.29
0.28
0.25
0.07
0.25
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
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
1,24,828
50.3
12.93
42.5
21.6
28.9
—
67.8
MOTILAL OSWAL FIN LTD
61,810
31.2
4.77
14.5
14.5
—
20.9
57.7
360 ONE WAM LIMITED
44,371
35.0
4.51
15.5
12.4
—
22.0
66.8
NUVAMA WEALTH MANAGE LTD
31,853
15.0
7.73
12.7
25.2
—
—
53.0
Dossier · DB (INT) STOCK BROKERS · 11 September 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
1-day %
5-day %
10 Sept 2026 · Board to consider transfer of major client business to a buyer
board shareholder meetings
low
—
—
9 Sept 2026 · Notice of 34th AGM published in newspaper
compliance
minimal
—
—
8 Sept 2026 · 34th AGM Notice and Annual Report newspaper advertisement published
compliance
minimal
—
—
8 Sept 2026 · Republished AGM newspaper ad after printing error in vernacular paper
compliance
minimal
—
—
5 Sept 2026 · DB International Stock Brokers files Annual Report for FY 2025-26
results
high
—
—
5 Sept 2026 · Notice of 34th AGM on September 29, 2026; director reappointment on agenda
board shareholder meetings
low
—
—
5 Sept 2026 · Newspaper publication about 34th Annual General Meeting
compliance
minimal
—
—
11 Aug 2026 · Newspaper publication of Q1 FY27 financial results
compliance
minimal
—
—
10 Aug 2026 · DB Stock Brokers Q1 results, MSEI membership voluntarily surrendered
business updates
critical
—
—
10 Aug 2026 · Board approves Q1 FY27 results, to surrender MSEI membership
compliance
minimal
—
—
Source: exchange announcements; reaction = close-to-close from the filing's session.
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
ANGEL ONE LIMITED
27,862
5.2
4.53
15.1
14.9
—
32.4
34.2
IIFL CAPITAL SERVICES LTD
10,617
18.4
3.46
9.9
18.4
—
25.1
50.0
SHARE IND. SECURITIES LTD
4,335
11.9
1.63
6.5
12.2
—
26.8
45.5
ANAND RATHI SH N STK BR L
3,101
19.5
2.30
10.1
9.6
11.5
—
31.2
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
32.5
15.4
31 of 37
17%
P/B
1.3
1.8
13 of 40
69%
ROE
4.1
9.6
30 of 40
26%
Debt / Equity
0.0
0.0
1 of 40
36%
EBITDA margin
15.8
31.2
32 of 39
18%
Revenue growth
48.5
22.4
3 of 35
94%
Profit growth
(14.3)
13.4
31 of 38
19%
Market cap
97
507
32 of 42
24%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
