NSE: GEOJITFSL · BSE: 532285
GEOJIT FINANCIAL SER L
Operates as a wealth management and stockbroking platform serving Indian retail investors and NRI clients, with FY26 segment revenue of ₹621.38 crore from Wealth Management (91.6% of segment revenue) and ₹31.12 crore from Other services. Wealth Management runs broking, mutual fund and insurance distribution, portfolio management, margin funding and a captive asset management business, with customer assets of ₹1.11 lakh crore in Q1 FY27. The group also runs a Middle East/NRI book of about USD 1 billion and a margin trading book of ₹755 crore, while a newly licensed DIFC private banking vertical targets clients with USD 1 million-plus tickets. Employee costs at 44.6% of revenue are the largest expense line, and FY27 has seen a step-up in spending on sales force expansion, DIFC build-out and an INR 30 crore IT transformation programme. Distribution income, including equity MF net inflow market share of 0.473% and a SIP book collecting ₹151 crore a month, is being shifted toward recurring trail-based revenue, which made up about 37% of total revenue in Q1 FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Wealth Management (92%), Other services (5%), Unallocated (4%). Asset-light wealth distribution and broking platform, shifting mix toward recurring trail-based fees
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 500 | 439 | 614 | 748 | 671 |
| EBITDA (ex other income) | 231 | 148 | 228 | 284 | 152 |
| margin % | 46.2 | 33.6 | 37.1 | 38.0 | 22.7 |
| Owners' profit | 151 | 97 | 145 | 168 | 80 |
| EPS, as reported (₹) | 6.31 | 4.06 | 6.06 | 6.18 | 2.88 |
| ROE % · ROCE % | 20.1 · — | 12.7 · — | 16.4 · — | 13.9 · — | 6.5 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 83 | 38 | (124) | 167 | 236 |
| Capex | (20) | (23) | (19) | (25) | (54) |
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 | 218 | 172 | 177 | 153 | 170 | 160 | 188 | 160 |
| Profit before tax | 76 | 48 | 40 | 37 | 30 | 16 | 25 | 26 |
| Net profit | 57 | 37 | 32 | 29 | 23 | 14 | 17 | 20 |
| EPS (₹) | 2.34 | 1.31 | 1.12 | 0.99 | 0.80 | 0.46 | 0.63 | 0.71 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Wealth Management | 621 | 91.6 |
| Other services | 16 | 2.4 |
| Unallocated | 26 | 3.8 |
| Other Services | 15 | 2.2 |
| Total, before eliminations | 679 | 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 | 1,18,587 | 47.7 | 12.29 | 40.3 | 21.6 | 28.9 | — | 67.8 |
| MOTILAL OSWAL FIN LTD | 58,414 | 29.5 | 4.51 | — | 14.5 | — | 20.9 | 57.7 |
| 360 ONE WAM LIMITED | 40,426 | 31.9 | 4.11 | — | 12.4 | — | 22.0 | 66.8 |
| NUVAMA WEALTH MANAGE LTD | 31,818 | 15.0 | 7.72 | — | 25.2 | — | — | 53.0 |
| ANGEL ONE LIMITED | 26,734 | 5.0 | 4.35 | — | 14.9 | — | 32.4 | 34.2 |
| IIFL CAPITAL SERVICES LTD | 10,845 | 18.9 | 3.53 | — | 18.4 | — | 25.1 | 50.0 |
| SHARE IND. SECURITIES LTD | 3,863 | 10.6 | 1.46 | — | 12.2 | — | 26.8 | 45.5 |
| ANAND RATHI SH N STK BR L | 2,970 | 18.6 | 2.20 | 9.8 | 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) | 25.8 | 15.0 | 25 of 33 | 25% |
| P/B | 1.4 | 1.6 | 18 of 40 | 54% |
| ROE | 6.5 | 9.6 | 26 of 40 | 36% |
| EBITDA margin | 25.1 | 31.2 | 26 of 39 | 34% |
| Revenue growth | 4.7 | 22.4 | 23 of 35 | 35% |
| Profit growth | (30.8) | 13.4 | 33 of 38 | 14% |
| Market cap | 1873 | 413 | 12 of 42 | 73% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Audio recording of analyst and institutional investor call posted | investor communications | low | — | — |
| 24 Oct 2026 · Newspaper ad for Q2 and H1 FY27 unaudited results | compliance | minimal | — | — |
| 24 Oct 2026 · Q2 revenue rises 2.55%, but EBITDA and PAT decline | investor communications | medium | — | — |
| 23 Oct 2026 · Geojit Q2 and H1 FY27: Revenue grows, profit falls | compliance | low | — | — |
| 23 Oct 2026 · Independent director reappointed; promoter reclassification withdrawn | management changes | medium | — | — |
| 23 Oct 2026 · September quarter profit falls 30% as core operations use cash | results | high | — | — |
| 21 Oct 2026 · Geojit sets Q2 and H1FY27 earnings call on 26 Oct 2026 at 3:30 PM | board shareholder meetings | low | — | — |
| 16 Oct 2026 · Board meeting on 23 Oct 2026 to consider Q2/H1 FY26-27 results | results | low | — | — |
| 7 Oct 2026 · Q2 FY27 dematerialisation certificate filed under SEBI Reg 74(5) | compliance | minimal | — | — |
| 30 Sept 2026 · KSIDC nominee director replaced on Geojit board | management changes | medium | — | — |
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.