SMC GLOBAL SECURITIES LTD

Operates a diversified financial services platform across equity broking and distribution, insurance broking, and non-banking lending. Broking, Distribution and Trading generated 56.0% of FY26 segment revenue at Rs 1,089.22 cr with EBIT of Rs 239.35 cr; the segment spans retail broking, mutual fund distribution, wealth management and the Stoxkart subscription-based discount broking platform, serving 13.8 lakh broking accounts with DP AUA of Rs 1.65 lakh cr and mutual fund AUM of Rs 4,787 cr backed by 92,129 active SIPs. Insurance broking contributed 34.3% of segment revenue at Rs 667.53 cr but only Rs 14.29 cr of EBIT, reflecting upfront investment in a composite broker upgrade and distribution build-out; the unit placed gross premium of Rs 759 cr across 2.7 lakh policies, using 492 employees, 16,747 POS agents and 3,652 agents. Financing activities (NBFC) made up 9.7% of segment revenue at Rs 188.94 cr with EBIT of Rs 102.21 cr, lending against gold and micro-LAP with AUM of Rs 1,025 cr across 40 branches in 7 states and a secured-retail share of 75% of book. Employee costs at 19.7% of revenue are the largest operating line, followed by other operating expenses at 7.7% and depreciation at 1.5%.