BSE: 511654
SUGAL & DAMANI SHARE BROKERS L
Earns revenue from two business segments: share broking and real estate. The share broking segment facilitates securities trades for clients and earns brokerage income. The real estate segment, the larger of the two, is engaged in land development and property transactions and accounts for over 50% of revenue and assets per filings. Real estate revenue is lumpy — Q3 FY26 real estate revenue fell to ₹161.60 lakh from ₹562.36 lakh a year earlier, while share broking actually grew year-on-year with Q3 FY26 PBT of ₹57.75 lakh vs ₹36.91 lakh in Q3 FY25. For FY26, total revenue from operations was ₹19.6553 crore and net profit ₹4.1283 crore. The cost base is dominated by other operating expenses at 52.6% of revenue, with employee costs at 9.7% and negligible materials and depreciation. Shareholders approved a renaming to 'Sugal Earthen Spaces Ventures Limited' in April 2026, signalling the pivot toward real estate. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Share Broking, Real Estate. Two-segment NBFC — share broking (small, steady) and real estate (larger, lumpy); minimal leverage (D/E 0.015) and very low capex
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 25 | 20 |
| EBITDA (ex other income) | 6 | 5 |
| margin % | 22.6 | 26.1 |
| Owners' profit | 5 | 4 |
| EPS, as reported (₹) | 7.60 | 6.61 |
| ROE % · ROCE % | 18.3 · 24.9 | 13.8 · 18.6 |
| Debt / equity (x) | 0.06 | 0.01 |
| Cash from operations | 14 | 8 |
| Capex | (0) | (0) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|
| Revenue | 7 | 6 | 6 | 2 | 5 |
| Profit before tax | 2 | 3 | 2 | 0 | 1 |
| Net profit | 2 | 2 | 1 | 0 | 1 |
| EPS (₹) | 2.61 | 3.26 | 2.10 | 0.26 | 0.98 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Share Broking | 3 | 13.2 |
| Real Estate | 18 | 86.8 |
| Total, before eliminations | 20 | 100.0 |
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 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.9 | 18.1 | 57 of 200 | 72% |
| P/B | 1.4 | 1.1 | 145 of 253 | 43% |
| ROCE | 18.4 | 2.0 | 4 of 59 | 95% |
| ROE | 13.8 | 3.1 | 23 of 257 | 91% |
| Debt / Equity | 0.0 | 0.0 | 29 of 53 | 46% |
| EBITDA margin | 17.3 | 48.6 | 169 of 249 | 32% |
| Revenue growth | (25.4) | 12.6 | 173 of 231 | 25% |
| Profit growth | (62.4) | 7.8 | 167 of 251 | 34% |
| Market cap | 41 | 34 | 127 of 268 | 53% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 30 Sept 2026 · Trading window closed from Oct 1 ahead of H1 FY26 results | compliance | minimal | — | — |
| 29 Sept 2026 · All 5 resolutions passed at 33rd AGM; dividend declared | board shareholder meetings | low | — | — |
| 28 Sept 2026 · AGM outcome: Rs 1 dividend approved, directors reappointed | corporate actions | high | — | — |
| 28 Sept 2026 · 33rd AGM proceedings: dividend declared, two directors reappointed | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · 33rd AGM notice corrigendum: name change ratification, dividend on agenda | compliance | minimal | — | — |
| 7 Sept 2026 · Newspaper ad confirming dispatch of 33rd AGM Notice and Annual Report | compliance | minimal | — | — |
| 7 Sept 2026 · Final dividend record date set for September 21, 2026 | corporate actions | high | — | — |
| 3 Sept 2026 · Annual Report FY26 filed; revenue falls 22.7 percent to Rs 20.20 cr | results | high | — | — |
| 2 Sept 2026 · 33rd AGM on Sep 28 via video conferencing; dividend and director reappointments on agenda | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Q1 FY27 results: revenue down 74% YoY, profit drops 91% | results | medium | — | — |
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.