INDO THAI SEC LTD

Operates as a stockbroker with a sizeable proprietary treasury book. Equities broking and related activities contributed 99.5% of FY26 segment revenue, with the FY26 investor presentation disclosing that treasury operations alone accounted for 76% of consolidated revenue; the segment generated Rs 103.69 crore of revenue at an EBIT margin of 84.2%. A small real-estate line made up 0.5% of revenue at a loss, and a marginal environmental-technology manufacturing line (0.1% of revenue) ran at a heavy operating loss. The company is pursuing a scheme of arrangement to demerge its broking and distribution undertaking into Indo Thai Financial Services Limited; shareholders (99.99% of ~8.41 crore shares voted) and unsecured creditors (100% by value) approved it in July 2026, but NCLT sanction is still pending. Costs are dominated by staff expenses of Rs 7.75 crore (7.5% of revenue) and other operating expenses of Rs 5.63 crore (5.4%); materials, depreciation and capex are negligible, consistent with a service-and-treasury model.