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Dossier · Smart Finsec Limited · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Smart Finsec Limited BSE: 539494
Financial Services › Financial Services › Finance › Non Banking Financial Company (NBFC)
Smart Finsec Limited
StateQ4 FY26 filed
Last close · 28 Oct 2026₹8.30
Market cap₹0.0k cr
TTM P/E · P/B · EV/EBITDA25.1 · 1.49 · —
Operates as a small non-banking financial company with two segments. Smart Finsec Limited's NBFC Activity segment contributes 84.9% of segment revenue at Rs. 1.67 crore for FY26 and includes lending and investment-related income such as F&O/Jobbing income. The Real Estate segment contributes 15.1% (Rs. 0.30 crore) and earns rental income, which remained around Rs. 22 lakhs through the first nine months of FY26. Total income for FY26 was Rs. 1.97 crore, with net profit of Rs. 0.98 crore and EPS of Rs. 0.33, and total assets of Rs. 16.81 crore. Employee cost is the largest operating expense at 21.6% of revenue. The company has extended a corporate guarantee of Rs. 30 crore to Axis Bank for a credit facility availed by its group company Smart Equity Brokers Private Limited, a stock broking firm. Operating cash flow turned negative in FY26 as loans on the books increased by Rs. 138.64 lakh during the year. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. NBFC Activity (85%), Real Estate (15%). Small, capital-light NBFC with a secondary rental real estate book and a group-level corporate guarantee exposure
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · standalone
FY22
FY23
FY24
FY25
FY26
Revenue
51
31
25
2
2
EBITDA (ex other income)
5
2
3
2
1
margin %
9.1
6.4
12.5
66.3
69.1
Owners' profit
3
1
2
1
1
EPS, as reported (₹)
1.15
0.47
0.79
0.39
0.33
ROE % · ROCE %
32.2 · —
11.6 · —
16.3 · —
7.5 · —
5.9 · —
Debt / equity (x)
—
—
—
—
—
Cash from operations
(5,37,195)
(1)
3
3
(1)
Capex
0
0
(0)
0
0
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · Smart Finsec Limited · 29 October 2026Page 2 of 3
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
0
1
0
1
1
Profit before tax
0
0
0
0
0
0
0
0
Net profit
0
0
0
0
0
0
0
0
EPS (₹)
0.10
0.12
0.10
0.07
0.09
0.07
0.11
0.06
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
Real Estate
0
15.1
NBFC Activity
2
84.9
Total, before eliminations
2
100.0
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
BAJAJ FINANCE LIMITED
5,70,768
28.1
4.88
—
16.5
—
25.2
70.7
SHRIRAM FINANCE LIMITED
1,94,820
14.6
2.96
—
15.2
—
22.5
74.7
CHOLAMANDALAM IN & FIN CO
1,31,798
22.8
4.33
—
17.2
—
26.5
71.2
TATA CAPITAL LIMITED
1,31,209
24.0
2.79
—
10.4
—
—
75.8
MUTHOOT FINANCE LIMITED
96,352
8.5
2.42
—
26.7
—
22.0
84.0
SBI CARDS & PAY SER LTD
50,202
22.1
3.19
—
13.8
—
—
33.1
SUNDARAM FINANCE LTD
43,766
19.6
2.94
—
13.8
—
—
78.4
AUTHUM INVEST & INFRA LTD
42,040
7.2
2.85
—
13.1
—
—
90.1
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
25.1
18.1
125 of 200
38%
P/B
1.5
1.1
154 of 253
39%
ROE
5.9
3.1
96 of 257
63%
EBITDA margin
65.9
48.6
94 of 249
63%
Revenue growth
14.1
12.6
111 of 231
52%
Profit growth
(17.3)
7.8
139 of 251
45%
Market cap
25
34
154 of 268
43%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · Smart Finsec Limited · 29 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
14 Oct 2026 · Smart Finsec takes 15.60 Cr loan from Bajaj Housing Finance for expansion
credit debt
medium
—
—
14 Oct 2026 · Smart Finsec board approves Rs 15.60 Cr loan from Bajaj Housing Finance
credit debt
medium
—
—
7 Oct 2026 · Revised RTA certificate under SEBI Reg 74(5) for Q2 FY27
compliance
minimal
—
—
6 Oct 2026 · Corporate Guarantee released by Axis Bank
credit debt
medium
—
—
6 Oct 2026 · Corporate Guarantee Released by Axis Bank
credit debt
medium
—
—
6 Oct 2026 · Reg 74(5) certificate filing for quarter ended September 2026
compliance
minimal
—
—
22 Sept 2026 · AGM voting results: all 4 resolutions passed with over 99.99 percent majority
board shareholder meetings
low
—
—
21 Sept 2026 · 31st AGM proceedings of Smart Finsec Limited held on September 21, 2026
board shareholder meetings
low
—
—
29 Aug 2026 · Smart Finsec publishes 31st AGM notice in newspapers
compliance
minimal
—
—
28 Aug 2026 · Book Closure for 31st AGM from Sep 15 to Sep 21, 2026
compliance
minimal
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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More audited years; no estimates
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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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
