BSE: 531432
SYSTEMATIX SECURITIES LTD.
Operates as a small NBFC focused on investment banking. FY26 revenue from operations stood at ₹14.35 lakh, with the company posting a net loss of ₹6.02 lakh on total assets of ₹87.78 lakh. Core investment banking income fell to ₹8.44 lakh in FY26 from ₹30.88 lakh in FY25, while other income of ₹5.91 lakh partially offset the decline. The cost base is dominated by employee expenses at 55.8% of revenue and other operating costs at 48.4%, with no materials input cost. The company holds no borrowings, recorded no capital expenditure, and had operating cash flow of -₹8.72 lakh for the year. Registered office is in Chittorgarh, Rajasthan; CS Priyanka Maheshwari was appointed Company Secretary and Compliance Officer in November 2025. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Investment banking, Other income. Tiny, loss-making NBFC focused on investment banking
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | 0 | 0 | 0 | (0) | (0) |
| margin % | 18.3 | 20.1 | 0.4 | (17.7) | (17.8) |
| Owners' profit | (0) | (0) | (0) | (0) | (0) |
| EPS, as reported (₹) | (0.04) | (0.04) | (0.08) | (0.16) | 0.00 |
| ROE % · ROCE % | (0.2) · (0.1) | (0.2) · 0.2 | (0.5) · (0.5) | (0.9) · (0.9) | (0.7) · — |
| Debt / equity (x) | 0.02 | 0.01 | 0.00 | 0.00 | — |
| Cash from operations | (0) | (0) | (0) | (0) | (0) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | (0) | (0) | (0) | 0 | (0) | 0 | (0) |
| Net profit | (0) | (0) | (0) | (0) | 0 | (0) | 0 | (0) |
| EPS (₹) | (0.01) | (0.03) | (0.03) | (0.11) | 0.00 | (0.02) | 0.00 | (0.05) |
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. % |
|---|---|---|---|---|---|---|---|---|
| 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 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.7 | 1.1 | 82 of 253 | 66% |
| ROE | (0.7) | 3.1 | 209 of 257 | 19% |
| EBITDA margin | (30.1) | 48.6 | 203 of 249 | 19% |
| Revenue growth | 9.1 | 12.6 | 122 of 231 | 47% |
| Profit growth | 55.0 | 7.8 | 83 of 251 | 67% |
| Market cap | 6 | 34 | 246 of 268 | 8% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board to approve September 2026 quarterly results | results | low | — | — |
| 5 Oct 2026 · Reg 74(5) Certificate - No Demat or Remat Requests in Q2 FY26 | compliance | minimal | — | — |
| 1 Oct 2026 · Newspaper publication for special share transfer and demat window | compliance | minimal | — | — |
| 25 Sept 2026 · New statutory auditor appointed at Systematix Securities | management changes | medium | — | — |
| 25 Sept 2026 · Re-appointment of Mr Basanti Lal Agal as Managing Director approved | management changes | medium | — | — |
| 25 Sept 2026 · 40th AGM: Financials approved, auditor changed, director reappointed | board shareholder meetings | low | — | — |
| 25 Sept 2026 · 40th AGM voting results: 3 resolutions passed, new auditor appointed | compliance | minimal | — | — |
| 25 Sept 2026 · Systematix Securities 40th AGM concludes; adopts FY26 results, new auditor appointed | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Trading Window Closure from Oct 1 for Q2 FY26 Results | compliance | minimal | — | — |
| 3 Sept 2026 · 40th AGM notice and remote e-voting info published in newspapers | compliance | minimal | — | — |
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.