BSE: 538319
GCM CAPITAL ADVISORS LTD
Operates as a small financial services entity listed on the BSE SME platform under scrip code 538319. In FY26 the company swung to a net loss of ₹36.84 lakhs against a loss of ₹17.89 lakhs in the prior year, with revenue from operations at ₹227.93 lakhs versus ₹218.69 lakhs earlier. Activity centres on securities-related business, with ₹83.78 lakhs of stock-in-trade purchases in H1FY26 and ₹641.70 lakhs of long-pending advances given for share/securities acquisition. Total expenses climbed to ₹278.99 lakhs in FY26 from ₹202.01 lakhs, driven by a sharp rise in Expected Credit Loss provisions to ₹68.21 lakhs from ₹18.14 lakhs. The cost mix is dominated by other operating expenses at 49.5% of revenue, while employee costs account for 21.5%. The company has not issued any non-convertible securities and operates under SME-platform exemptions from several SEBI LODR requirements. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Securities trading (stock-in-trade), Advances for share/securities acquisition. Small, loss-making financial services entity on the BSE SME platform with a thin revenue base and provisions-driven losses
Exhibit 1: Financial summary, FY21–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY21 | FY22 | FY23 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4 | 2 | 4 | 2 | 2 |
| EBITDA (ex other income) | 0 | 0 | (7) | 0 | (0) |
| margin % | 3.5 | 17.8 | (184.0) | 5.6 | (10.1) |
| Owners' profit | 0 | 0 | (7) | (0) | (0) |
| EPS, as reported (₹) | 0.05 | 0.14 | (4.26) | (0.11) | (0.22) |
| ROE % · ROCE % | 0.3 · 0.3 | 0.7 · 1.0 | (20.7) · (19.8) | (0.7) · (0.2) | (1.5) · (1.7) |
| Debt / equity (x) | 0.00 | 0.01 | 0.03 | 0.02 | 0.03 |
| Cash from operations | 1 | (5) | 1 | (1) | (1) |
| Capex | 0 | (1) | (1) | 0 | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY22 | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 0 | 3 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | (0) | 0 | (7) | 0 | 0 | (0) | (0) | (0) |
| Net profit | (0) | 0 | (7) | 0 | 0 | (0) | (0) | (0) |
| EPS (₹) | (0.11) | 0.00 | (4.38) | 0.09 | 0.13 | (0.24) | (0.03) | (0.18) |
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 | 33,999 | 38.5 | 10.39 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,509 | 19.5 | 4.10 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,234 | — | 2.54 | 37.9 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 969 | — | 0.74 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| PRIME SECURITIES LIMITED | 968 | 172.9 | 3.78 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 881 | 26.7 | 5.18 | 16.9 | 22.5 | 30.3 | — | 97.5 |
| REGENCY FINCORP LIMITED | 571 | 52.3 | 3.56 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 529 | — | 1687.57 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.3 | 1.0 | 15 of 105 | 87% |
| ROCE | (1.9) | 1.8 | 66 of 83 | 21% |
| ROE | (1.5) | 1.3 | 85 of 111 | 24% |
| Debt / Equity | 0.0 | 0.0 | 43 of 77 | 45% |
| EBITDA margin | (21.4) | 25.6 | 80 of 91 | 12% |
| Revenue growth | 60.2 | (4.1) | 19 of 85 | 79% |
| Profit growth | (314.8) | (0.2) | 100 of 109 | 8% |
| Market cap | 6 | 26 | 99 of 113 | 13% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Board meeting on Nov 2 to consider H1 FY27 unaudited financial results | results | low | — | — |
| 9 Oct 2026 · Quarterly RTA certificate submitted for dematerialization compliance | compliance | minimal | — | — |
| 9 Oct 2026 · Declaration of non-applicability of SEBI Reg 57(5) for QE Sept 2026 | compliance | minimal | — | — |
| 29 Sept 2026 · GCM Capital Advisors declares NCD regulation non-applicable for Q3 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed ahead of H1 FY27 results declaration | compliance | minimal | — | — |
| 22 Sept 2026 · GCM Capital Advisors 13th AGM: Both resolutions passed with near-unanimous approval | board shareholder meetings | low | — | — |
| 22 Sept 2026 · 13th AGM Scrutinizer Report - Both Resolutions Passed | compliance | minimal | — | — |
| 22 Sept 2026 · 13th AGM held; financial statements and director re-appointment considered | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Newspaper notice of 13th AGM published on September 2, 2026 | compliance | minimal | — | — |
| 31 Aug 2026 · Annual Report FY25-26 and 13th AGM Notice filed | 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.