NDA SECURITIES LTD.

Operates a stock broking and securities business out of Delhi, earning revenue across three segments: broking (45.4% of segment revenue), securities trading (34.1%), and securities investments (20.5%). Broking is the largest revenue line at Rs 3.85 crore and the most profitable with EBIT of Rs 2.23 crore. Securities trading contributed Rs 2.89 crore in revenue but EBIT of just Rs 0.17 crore, while securities investments earned Rs 1.74 crore in revenue with Rs 1.73 crore in EBIT. The company acquired NDA Research and Technology Private Limited effective July 4, 2025, expanding a group that includes NDA Capital Advisors and Alternative Securities Marketplace. During FY26 it obtained MSEI membership and filed applications for MCX and NSE commodity segments, and is seeking shareholder approval for a preferential equity issue of up to Rs 62.90 crore. LIC removed it from its approved broker panel following a change in management control, and re-empanelment is being pursued. Employee costs at 25.9% of revenue and other operating expenses at 50.2% make up the bulk of the cost base.