BSE: 531672
INANI SECURITIES LTD.
Operates as a stock broker and depository participant based in Hyderabad, holding trading memberships on NSE in the cash market, futures and options, and currency derivatives segments, and on BSE in the cash market. Revenue is earned primarily from brokerage commissions on client trades executed through these exchange memberships, along with fees from depository (demat) services. In FY26, audited results show total revenue of ₹35.99 Lakhs against ₹55.07 Lakhs in the prior year, with profit after tax of ₹7.58 Lakhs and basic EPS of ₹0.07 per share. The single largest cost line is employee cost at 62.1% of revenue, followed by other operating expenses at 55.5% and depreciation at 23.6%. Total assets stood at ₹25.9475 crore and the EBITDA margin for FY26 was 51.72%, with no dividend recommended for the year. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Securities broking, Depository participant services. Small, BSE-listed securities broker and depository participant
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2 | 1 | 1 | 1 | 1 |
| EBITDA (ex other income) | 0 | 0 | (1) | (0) | (0) |
| margin % | 23.0 | 40.8 | (49.9) | (9.7) | (17.9) |
| Owners' profit | 0 | 0 | 1 | 1 | 0 |
| EPS, as reported (₹) | 0.87 | 0.99 | 2.90 | 1.25 | 0.00 |
| ROE % · ROCE % | 0.0 · 0.0 | — · — | 6.9 · 10.5 | 2.9 · 5.1 | 0.4 · 1.5 |
| Debt / equity (x) | 0.03 | — | 0.01 | 0.07 | 0.05 |
| Cash from operations | 1 | (3,30,200) | 2 | (1) | 0 |
| Capex | 0 | (28,280) | (3) | (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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.08 | 0.37 | 0.13 | 0.67 | 0.07 | 0.04 | 0.05 | 0.00 |
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 | 33,136 | 37.0 | 10.13 | — | 13.7 | 16.1 | — | 27.5 |
| ONEMI TECHNOLOGY SOL LTD | 5,384 | 12.6 | 2.26 | 9.6 | 9.3 | 8.7 | — | 30.5 |
| GYFTR LIMITED | 1,190 | — | 2.45 | — | 4.5 | 5.3 | 32.8 | (0.5) |
| PRIME SECURITIES LIMITED | 984 | 175.8 | 3.84 | — | 5.1 | — | 25.7 | 23.0 |
| CENTRUM CAPITAL LIMITED | 908 | — | 0.69 | 14.6 | (21.4) | (2.5) | 49.7 | 26.5 |
| WEALTH FRST PORT. MG. LTD | 868 | 26.3 | 5.10 | 17.5 | 22.5 | 30.3 | — | 64.9 |
| REGENCY FINCORP LIMITED | 551 | 50.4 | 3.43 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 548 | — | 1749.33 | 19642.0 | 18.2 | 18.2 | — | 56.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| ROCE | 0.5 | 1.8 | 54 of 83 | 35% |
| ROE | 0.4 | 1.3 | 69 of 111 | 38% |
| Debt / Equity | 0.1 | 0.0 | 45 of 77 | 42% |
| EBITDA margin | (11.7) | 7.5 | 72 of 95 | 25% |
| Revenue growth | (4.6) | (4.1) | 45 of 85 | 48% |
| Profit growth | (99.3) | (0.2) | 92 of 109 | 16% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Open offer to acquire 26% of Inani Securities at Rs 60 per share | strategic transactions | high | — | — |
| 19 Oct 2026 · Open Offer by Aikyam Financial Services for Inani Securities | strategic transactions | high | — | — |
| 13 Oct 2026 · Open Offer at Rs 60 per share by Aikyam Financial Services for 26% stake | strategic transactions | high | — | — |
| 13 Oct 2026 · Aikyam Financial Services triggers open offer for 26 percent stake in Inani Securities at Rs 60 | strategic transactions | high | — | — |
| 12 Oct 2026 · Open offer triggered for Inani Securities at Rs 60 per share | strategic transactions | high | — | — |
| 12 Oct 2026 · Inani Securities Q2 FY26: PAT up, revenue from ops down | results | high | — | — |
| 12 Oct 2026 · Q2 FY27 Results: Revenue up 41% YoY at 35.63L, PAT surges to 7.96L | results | medium | — | — |
| 10 Oct 2026 · Routine quarterly compliance certificate for dematerialized shares filed | compliance | minimal | — | — |
| 26 Sept 2026 · Inani Securities clarifies cash flow discrepancy and revises EPS filing | results | high | — | — |
| 26 Sept 2026 · Two promoter directors swap MD and Whole-Time Director roles | 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.