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. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Equities, broking and other related activities (100%), Real Estate Activities (1%), Manufacturing (Environmental Technology) Activities (0%). Asset-light stockbroking with a sizeable proprietary treasury book; small, loss-making diversification into real estate and environmental-technology manufacturing being hived off via a pending demerger
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 20 | 8 | 31 | 26 | 104 |
| EBITDA (ex other income) | 12 | (9) | 20 | 11 | 86 |
| margin % | 61.7 | (116.6) | 64.6 | 42.9 | 82.9 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 9.67 | (7.10) | 15.36 | 7.67 | 5.39 |
| ROE % · ROCE % | 15.1 · — | (11.7) · — | 20.5 · — | 4.4 · — | 23.1 · — |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 5 | 1 | (3) | (21) | (34) |
| Capex | (1) | (0) | (2) | (0) | (2) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9 | 6 | 6 | 14 | 24 | 28 | 38 | 21 |
| Profit before tax | 6 | 1 | (2) | 10 | 19 | 23 | 31 | 15 |
| Net profit | 5 | 1 | (3) | 9 | 14 | 17 | 26 | 11 |
| EPS (₹) | 4.54 | 0.90 | (2.51) | 7.25 | 1.20 | 1.37 | 2.04 | 0.86 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Equities, broking and other related activities | 90 | 85.9 |
| Real Estate Activities | 0 | 0.4 |
| Manufacturing(Environmental Technology) Activities | 0 | 0.1 |
| Equities, Broking & Other related activities | 14 | 13.5 |
| Real Estate activities | 0 | 0.2 |
| Manufacturing (Environmental Technology) activities | 0 | 0.0 |
| Total, before eliminations | 104 | 100.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Indo Thai Securities to issue up to Rs 100 crore NCDs via private placement | fund raising | medium | — | — |
| 27 Aug 2026 · Newspaper publication of 32nd AGM notice and e-voting info filed with exchanges | compliance | minimal | — | — |
| 26 Aug 2026 · Record date for FY26 dividend revised to 12-Sep-2026 | corporate actions | medium | — | — |
| 26 Aug 2026 · 32nd AGM on Sept 19 - Dividend of 10 paise per share and director re-appointments | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Indo Thai Securities publishes 32nd AGM notice in newspapers | compliance | minimal | — | — |
| 17 Aug 2026 · Newspaper publication of NCLT hearing notice for Scheme of Arrangement | compliance | minimal | — | — |
| 7 Aug 2026 · Indo Thai Securities appoints intermediaries for proposed NCD issuance | fund raising | medium | — | — |
| 4 Aug 2026 · Clarification on stock price movement - no undisclosed info | regulatory legal | medium | — | — |
| 25 Jul 2026 · Unsecured creditors approve demerger scheme at NCLT convened meeting | regulatory legal | high | — | — |
| 25 Jul 2026 · Shareholders approve demerger of Broking and Distribution business | strategic transactions | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 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 |
| 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 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.5 | 15.4 | 6 of 37 | 86% |
| P/B | 1.9 | 1.8 | 21 of 40 | 49% |
| ROE | 23.1 | 9.6 | 4 of 40 | 92% |
| Debt / Equity | 0.0 | 0.0 | 1 of 40 | 36% |
| EBITDA margin | 77.5 | 31.2 | 3 of 39 | 95% |
| Revenue growth | 46.8 | 22.4 | 4 of 35 | 91% |
| Profit growth | 28.6 | 13.4 | 14 of 38 | 65% |
| Market cap | 534 | 507 | 21 of 42 | 51% |
| 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 |
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.
