BSE: 509760
MODERN SHARES & STOCKBROKERS L
Operates as a small stockbroking firm, earning brokerage and commission by executing trades on BSE and NSE where it is a member. FY26 total income came in at Rs 3.5865 crore, with brokerage and commission as the main revenue line. The business has no materials cost but is heavily people-driven — employee expenses are the single largest cost at 46.2% of revenue, with other operating expenses at 39.2% and depreciation at 1.2%. Results have been uneven across quarters: PAT of Rs 19.84 lakh for FY26, but a Q3 FY26 net loss of Rs 4.78 lakh and Q4 FY26 loss of Rs 6.20 lakh. The company has no outstanding debt securities, is not classified as a large corporate under SEBI rules, and is led by Whole Time Director Anil S Manghnani, with promoter holdings of 21,34,784 equity shares as of March 31, 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Brokerage and commission. Small, fee-based cyclical stockbroking with no manufacturing or materials cost
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3 | 3 | 3 | 4 | 4 |
| EBITDA (ex other income) | 0 | 0 | 1 | 0 | 0 |
| margin % | 12.5 | 9.4 | 17.5 | 12.1 | 10.4 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 1.07 | 0.52 | 1.51 | 0.56 | 0.80 |
| ROE % · ROCE % | 2.4 · — | 1.3 · — | 3.2 · — | 1.7 · — | 1.5 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (2) | 2 | (2) | 0 | (2) |
| Capex | 0 | 0 | 0 | 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 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | (0) | (0) |
| Net profit | 0 | 0 | (0) | (0) | 0 | 0 | (0) | (0) |
| EPS (₹) | 0.32 | 0.70 | 0.02 | (0.49) | 0.46 | 0.49 | (0.22) | (0.42) |
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/E (TTM) | 96.8 | 19.0 | 67 of 76 | 12% |
| P/B | 0.7 | 1.0 | 42 of 105 | 61% |
| ROE | 1.5 | 1.3 | 52 of 111 | 54% |
| EBITDA margin | (9.4) | 25.6 | 76 of 91 | 17% |
| Revenue growth | (6.4) | (4.1) | 48 of 85 | 44% |
| Profit growth | (27.8) | (0.2) | 64 of 109 | 42% |
| Market cap | 9 | 26 | 89 of 113 | 21% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Board meeting on Oct 30, 2026 to approve Q2 and H1 FY26-27 results | results | low | — | — |
| 9 Oct 2026 · Not classified as Large Corporate under SEBI debt circular | compliance | minimal | — | — |
| 7 Oct 2026 · Filer exempt from Related Party Transaction disclosure under SEBI norms | compliance | minimal | — | — |
| 7 Oct 2026 · Routine compliance certificate under SEBI Regulation 74(5) filed | compliance | minimal | — | — |
| 1 Oct 2026 · Trading window closed ahead of Q2 FY27 results | compliance | minimal | — | — |
| 8 Sept 2026 · AGM results: all 3 resolutions passed with over 99.99 percent majority | board shareholder meetings | low | — | — |
| 8 Sept 2026 · 87th AGM: Profit rises to Rs 23.52 Lakhs, no dividend declared | investor communications | low | — | — |
| 8 Sept 2026 · 87th AGM held via video conference; 3 resolutions including director continuation past age 75 | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Newspaper publication of 87th AGM notice for September 8, 2026 | compliance | minimal | — | — |
| 13 Aug 2026 · 87th AGM notice and Annual Report FY26 dispatched to shareholders | compliance | minimal | — | — |
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.