BSE: 522289
NMS GLOBAL LIMITED
Operates as a small services group classified under Trading & Distributors, with standalone FY26 revenue of Rs 11.21 crore, up 68% from Rs 6.67 crore the prior year. Materials form the largest cost line at 34.8% of revenue per the cost structure, while employee cost (0.8%), other operating expenses (0.9%) and depreciation (1.0%) are minor, leaving the bulk of the standalone P&L as gross margin. On a consolidated basis the business includes subsidiaries such as GeoIT Skills, MS Corridor Management and Ebony & Ivory Advertising, indicating activities across IT/skills training, corridor management and advertising. Standalone profit after tax was Rs 17.26 lakh in FY26, a modest 6.6% increase over Rs 16.19 lakh the year before, while consolidated nine-month PAT for FY26 nearly doubled year-on-year. The company is undergoing a major capital restructuring: shareholders have approved a preferential issue of 1,17,03,500 convertible equity warrants at Rs 72 each to 38 non-promoter allottees, aggregating up to Rs 84.27 crore, alongside an increase in authorised share capital. A BSE warning letter was received in December 2025 regarding compliance matters, for which corrective measures have been initiated. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Standalone trading/services operations, Subsidiary operations (consolidated). Small, services-oriented group (Trading & Distributors classification) with material costs as the largest input.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3 | 7 | 25 | 14 | 43 |
| EBITDA (ex other income) | 0 | 0 | 2 | 2 | 2 |
| margin % | 0.3 | 6.4 | 6.8 | 12.4 | 4.3 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 0.07 | 0.92 | 1.11 | 1.36 | 2.39 |
| ROE % · ROCE % | 1.8 · 0.9 | 22.5 · 3.7 | 3.9 · 5.5 | 21.3 · 3.0 | 26.9 · 4.7 |
| Debt / equity (x) | 2.87 | 6.23 | 2.40 | 30.66 | 2.14 |
| Cash from operations | (3) | (4) | (12) | (10) | 0 |
| Capex | 0 | (0) | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 4 | 4 | 3 | 3 | 2 | 36 | 2 |
| Profit before tax | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.26 | 0.31 | 0.71 | 0.36 | 1.23 | 0.26 | 0.53 | 0.23 |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 28,026 | 16.5 | 2.69 | 13.1 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,680 | 17.2 | 3.62 | 16.4 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,932 | 16.8 | 4.35 | 11.5 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,637 | 25.1 | 4.23 | 18.8 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,125 | — | 12.51 | — | (0.0) | (0.0) | — | 45.0 |
| The Yamuna Syndicate Ltd | 737 | 8.1 | 0.57 | 185.4 | 4.0 | 0.3 | 4.8 | 6.2 |
| SHIV AUM STEELS LIMITED | 734 | 64.6 | 6.08 | 46.9 | 6.0 | 6.9 | — | 4.9 |
| THE STATE TRADING CORPN | 601 | 0.9 | — | 50.9 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.8 | 14.3 | 76 of 130 | 42% |
| P/B | 4.5 | 0.9 | 130 of 150 | 13% |
| ROCE | 2.5 | 2.1 | 86 of 177 | 52% |
| ROE | 26.9 | 2.3 | 4 of 158 | 98% |
| Debt / Equity | 2.1 | 0.1 | 140 of 154 | 9% |
| EBITDA margin | 13.2 | 4.5 | 35 of 137 | 75% |
| Revenue growth | (8.6) | (8.6) | 68 of 135 | 50% |
| Profit growth | (37.4) | 0.6 | 95 of 157 | 40% |
| Market cap | 12 | 21 | 119 of 179 | 34% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Exchange seeks clarification on significant share price movement | regulatory legal | medium | — | — |
| 3 Oct 2026 · NMS Global 40th AGM results: all 9 resolutions passed with 99.99% approval | compliance | minimal | — | — |
| 30 Sept 2026 · Trading window closed ahead of Q2 results | compliance | minimal | — | — |
| 30 Sept 2026 · NMS Global 40th AGM held; new CFO and Independent Director appointed | board shareholder meetings | low | — | — |
| 25 Sept 2026 · In-Principle Approval for Preferential Issue of 1.17 Cr Warrants | fund raising | medium | — | — |
| 23 Sept 2026 · Promoter Group member sells 2.11% stake in NMS Global via open market | ownership changes | medium | — | — |
| 17 Sept 2026 · Second corrigendum to 40th AGM notice with auditor certificate | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Monitoring agency appointed for preferential issue of convertible warrants | fund raising | medium | — | — |
| 12 Sept 2026 · Newspaper publication of corrigendum to 40th AGM notice | compliance | minimal | — | — |
| 9 Sept 2026 · Newspaper publication of 40th AGM notice and book closure | 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.