BSE: 531169
SKP SECURITIES LTD.
A Kolkata-based capital markets intermediary listed on BSE earns revenue primarily from brokerage and fee income on equity broking, distribution, institutional equities, and investment banking, with Rs 3,383.87 lakhs in FY26 brokerage and fee income. Interest income is the second stream at Rs 716.96 lakhs in FY26, funded by borrowings that nearly doubled to Rs 1,953.34 lakhs from Rs 1,002.30 lakhs. Employee costs at 21% of revenue are the largest expense line, followed by other opex at 15.5% and depreciation at 1.4%. In Q1 FY27, net profit declined 21.6% YoY to Rs 223.59 lakhs as employee costs rose 25% and finance costs increased, even though revenue was nearly flat. The board is family-run, led by the Pachisia family, and a Rs 2 per share dividend was recommended for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Brokerage and fee income, Interest income. Small, family-run capital markets intermediary with brokerage and lending income
Exhibit 1: Financial summary, FY19–FY20 (all audited; no estimate years)
| ₹ crore · consolidated | FY19 | FY20 |
|---|---|---|
| Revenue | 17 | 11 |
| EBITDA (ex other income) | 6 | 1 |
| margin % | 38.3 | 5.9 |
| Owners' profit | 5 | (0) |
| EPS, as reported (₹) | 10.27 | (0.82) |
| ROE % · ROCE % | 17.6 · 24.0 | (1.5) · — |
| Debt / equity (x) | 0.01 | — |
| Cash from operations | — | — |
| Capex | — | — |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY19 | Q2 FY19 | Q3 FY19 | Q4 FY19 | Q1 FY20 | Q2 FY20 | Q3 FY20 | Q4 FY20 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 3 | 2 | 11 | 2 | 3 | 3 | 3 |
| Profit before tax | 1 | 1 | 0 | 2 | 0 | 0 | 0 | (0) |
| Net profit | 1 | 1 | 0 | 2 | 0 | 0 | 0 | (1) |
| EPS (₹) | 1.79 | 2.98 | 0.51 | 4.19 | 0.32 | 0.38 | 0.16 | (2.04) |
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. % |
|---|---|---|---|---|---|---|---|---|
| BILLIONBRAINS GARAGE VN L | 1,18,587 | 47.7 | 12.29 | 40.3 | 21.6 | 28.9 | — | 67.8 |
| MOTILAL OSWAL FIN LTD | 58,414 | 29.5 | 4.51 | — | 14.5 | — | 20.9 | 57.7 |
| 360 ONE WAM LIMITED | 40,426 | 31.9 | 4.11 | — | 12.4 | — | 22.0 | 66.8 |
| NUVAMA WEALTH MANAGE LTD | 31,818 | 15.0 | 7.72 | — | 25.2 | — | — | 53.0 |
| ANGEL ONE LIMITED | 26,734 | 5.0 | 4.35 | — | 14.9 | — | 32.4 | 34.2 |
| IIFL CAPITAL SERVICES LTD | 10,845 | 18.9 | 3.53 | — | 18.4 | — | 25.1 | 50.0 |
| SHARE IND. SECURITIES LTD | 3,863 | 10.6 | 1.46 | — | 12.2 | — | 26.8 | 45.5 |
| ANAND RATHI SH N STK BR L | 2,970 | 18.6 | 2.20 | 9.8 | 9.6 | 11.5 | — | 31.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 3.1 | 1.6 | 29 of 40 | 28% |
| ROE | (1.5) | 9.6 | 33 of 40 | 18% |
| EBITDA margin | 2.7 | 31.2 | 34 of 39 | 13% |
| Revenue growth | (71.0) | 22.4 | 34 of 35 | 3% |
| Profit growth | (137.6) | 13.4 | 37 of 38 | 3% |
| Market cap | 66 | 413 | 37 of 42 | 12% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · SKP Securities H1 profit falls 30% amid negative operating cash flow | results | high | — | — |
| 24 Oct 2026 · September 2026 results: revenue and profit decline | results | high | — | — |
| 16 Oct 2026 · SKP Securities board meeting on Oct 24 for Q2 FY26 results | results | low | — | — |
| 14 Oct 2026 · Quarterly compliance certificate under Regulation 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closure from Oct 1, 2026 for Q2 results | compliance | minimal | — | — |
| 12 Sept 2026 · SKP Securities re-appoints two directors at 36th AGM | management changes | medium | — | — |
| 12 Sept 2026 · 36th AGM held - all resolutions passed including Rs. 2 final dividend | board shareholder meetings | medium | — | — |
| 12 Sept 2026 · SKP Securities 36th AGM: All 4 resolutions passed including Rs.2 dividend | board shareholder meetings | medium | — | — |
| 12 Sept 2026 · SKP Securities AGM: All 4 Resolutions Passed, Rs. 2 Dividend Declared | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Record date fixed for final dividend eligibility | corporate actions | high | — | — |
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.