NSE: SUMEDHA · BSE: 530419
SUMEDHA FISCAL SERVICES L
Provides investment banking and capital market services, earning fees and trading income from financial market activity. The business is split into two reported segments: Investment Banking, which contributed 60.9% of segment revenue and operated at a 34.6% EBIT margin, and Capital Market Operations, which contributed 39.1% of segment revenue at a 25.1% EBIT margin. In FY26, stock-in-trade sales of Rs. 9,696.40 lakh were the largest revenue line, pointing to significant securities trading or proprietary investment activity alongside the advisory business. The company carries no debt on its books and total assets stand at Rs. 68.72 crore. Employee cost of Rs. 5.43 crore (5% of revenue) is the largest operating expense, alongside other operating expenses of Rs. 2.97 crore and depreciation of Rs. 0.89 crore. Net profit for FY26 was Rs. 2.42 crore on revenue of Rs. 109.67 crore, with operating cash flow turning negative during the year. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Investment Banking (61%), Capital Market Operations (39%), Stock-in-trade sales. Small, debt-free financial services firm with fee-based and trading-based revenue streams
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 57 | 61 | 96 | 102 | 110 |
| EBITDA (ex other income) | 5 | 2 | 9 | 6 | 3 |
| margin % | 9.2 | 3.7 | 9.7 | 6.1 | 3.1 |
| Owners' profit | 4 | 2 | 8 | 8 | 2 |
| EPS, as reported (₹) | 3.83 | 1.91 | 9.58 | 9.12 | 3.03 |
| ROE % · ROCE % | 6.1 · — | 3.0 · — | 13.3 · — | 11.3 · — | 3.7 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 4 | 1 | 3 | 2 | (3) |
| Capex | (1) | (2) | (1) | (0) | (1) |
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 | 34 | 34 | 17 | 17 | 20 | 33 | 28 | 29 |
| Profit before tax | 3 | 4 | 2 | 0 | 4 | 2 | 0 | (3) |
| Net profit | 2 | 3 | 2 | 0 | 3 | 2 | 0 | (2) |
| EPS (₹) | 2.49 | 3.80 | 2.48 | 0.34 | 3.65 | 1.97 | 0.30 | (2.89) |
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. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 33,999 | 38.5 | 10.39 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,509 | 19.5 | 4.10 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED | 1,234 | — | 2.54 | 37.9 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 969 | — | 0.74 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| PRIME SECURITIES LIMITED | 968 | 172.9 | 3.78 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 881 | 26.7 | 5.18 | 16.9 | 22.5 | 30.3 | — | 97.5 |
| REGENCY FINCORP LIMITED | 571 | 52.3 | 3.56 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 529 | — | 1687.57 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.2 | 19.0 | 27 of 76 | 65% |
| P/B | 0.5 | 1.0 | 32 of 105 | 70% |
| ROE | 3.7 | 1.3 | 40 of 111 | 65% |
| EBITDA margin | (9.4) | 25.6 | 77 of 91 | 16% |
| Revenue growth | 71.6 | (4.1) | 18 of 85 | 80% |
| Profit growth | (949.7) | (0.2) | 108 of 109 | 1% |
| Market cap | 32 | 26 | 51 of 113 | 55% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Quarterly demat compliance certificate filed with BSE, NSDL and CDSL | compliance | minimal | — | — |
| 9 Oct 2026 · Newspaper notice on special window for physical share transfer | compliance | minimal | — | — |
| 1 Oct 2026 · Promoter group US Infotech acquires 16,227 shares via open market | ownership changes | medium | — | — |
| 30 Sept 2026 · Promoter Group US Infotech buys 16,227 shares of Sumedha Fiscal | ownership changes | low | — | — |
| 22 Sept 2026 · US Infotech (Promoter Group) buys 250 shares of Sumedha Fiscal in open market | ownership changes | medium | — | — |
| 21 Sept 2026 · Promoter Group US Infotech buys 250 shares of Sumedha Fiscal | ownership changes | low | — | — |
| 16 Sept 2026 · US Infotech acquires 10,530 shares of Sumedha Fiscal in open market | ownership changes | medium | — | — |
| 16 Sept 2026 · Promoter Group member US Infotech bought 10,530 shares of Sumedha Fiscal | ownership changes | medium | — | — |
| 12 Sept 2026 · Promoter group US Infotech acquired 45,000 shares via open market | ownership changes | medium | — | — |
| 11 Sept 2026 · Promoter group entity US Infotech buys 45,000 shares of Sumedha Fiscal | ownership changes | low | — | — |
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.