SMC Global Securities Ltd
Incorporated in 1994, SMC Global Securities Ltd offers financial services, with operations spanning across Broking, Distribution & Trading, Financing, and also Insurance Broking, supported by their subsidiary companies
- Market Cap ₹ 1,323 Cr.
- Current Price ₹ 63.2
- High / Low ₹ 94.9 / 49.5
- Stock P/E 15.6
- Book Value ₹ 60.1
- Dividend Yield 1.90 %
- ROCE 14.6 %
- ROE 12.6 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 1.05 times its book value
- Company has been maintaining a healthy dividend payout of 17.2%
Cons
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -0.73%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Financial Services Financial Services Capital Markets Stockbroking & Allied
Part of BSE Allcap BSE Financial Services
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 293 | 370 | 422 | 526 | 652 | 757 | 780 | 902 | 1,118 | 1,212 | 1,642 | 1,778 | 1,782 | |
| 250 | 289 | 353 | 429 | 516 | 593 | 659 | 706 | 821 | 941 | 1,213 | 1,355 | 1,432 | |
| Operating Profit | 43 | 81 | 70 | 97 | 136 | 163 | 122 | 196 | 297 | 271 | 429 | 423 | 350 |
| OPM % | 15% | 22% | 16% | 18% | 21% | 22% | 16% | 22% | 27% | 22% | 26% | 24% | 20% |
| 9 | 5 | 4 | 8 | -0 | 3 | 4 | 7 | 3 | 3 | 3 | 6 | 7 | |
| Interest | 13 | 13 | 18 | 29 | 47 | 64 | 61 | 43 | 58 | 90 | 155 | 207 | 217 |
| Depreciation | 7 | 11 | 7 | 7 | 9 | 11 | 19 | 18 | 20 | 23 | 32 | 30 | 29 |
| Profit before tax | 31 | 63 | 49 | 68 | 79 | 91 | 45 | 143 | 221 | 162 | 244 | 192 | 111 |
| Tax % | 28% | 33% | 30% | 34% | 35% | 18% | 47% | 26% | 21% | 26% | 23% | 24% | |
| 23 | 42 | 35 | 45 | 52 | 75 | 24 | 105 | 175 | 120 | 188 | 147 | 86 | |
| EPS in Rs | 0.99 | 1.86 | 1.52 | 2.03 | 2.36 | 3.30 | 1.04 | 4.63 | 7.71 | 5.73 | 8.94 | 6.96 | 4.05 |
| Dividend Payout % | 24% | 16% | 20% | 21% | 20% | 15% | 46% | 22% | 16% | 21% | 13% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 18% |
| 3 Years: | 17% |
| TTM: | -4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 44% |
| 3 Years: | -6% |
| TTM: | -59% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 20% |
| 1 Year: | 15% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 16% |
| 3 Years: | 15% |
| Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 21 | 21 | 21 | 21 |
| Reserves | 485 | 517 | 544 | 572 | 595 | 658 | 659 | 750 | 903 | 912 | 1,075 | 1,196 | 1,237 |
| 38 | 68 | 182 | 333 | 523 | 754 | 221 | 494 | 497 | 944 | 1,467 | 1,695 | 1,997 | |
| 358 | 382 | 613 | 653 | 672 | 916 | 975 | 1,120 | 1,519 | 1,431 | 2,184 | 2,009 | 1,987 | |
| Total Liabilities | 902 | 990 | 1,361 | 1,581 | 1,813 | 2,350 | 1,877 | 2,387 | 2,942 | 3,307 | 4,747 | 4,921 | 5,242 |
| 29 | 22 | 22 | 43 | 37 | 35 | 69 | 64 | 114 | 130 | 135 | 127 | 128 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 10 | 27 | 45 | 54 |
| Investments | 39 | 41 | 43 | 88 | 136 | 195 | 86 | 117 | 171 | 57 | 70 | 99 | 82 |
| 834 | 927 | 1,296 | 1,450 | 1,641 | 2,120 | 1,720 | 2,207 | 2,657 | 3,110 | 4,513 | 4,650 | 4,978 | |
| Total Assets | 902 | 990 | 1,361 | 1,581 | 1,813 | 2,350 | 1,877 | 2,387 | 2,942 | 3,307 | 4,747 | 4,921 | 5,242 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | -20 | -8 | -233 | -155 | 805 | -393 | 209 | -260 | -193 | 24 | ||
| -4 | -7 | -66 | 55 | 3 | -47 | -6 | -61 | -31 | -29 | -24 | ||
| -12 | 89 | 114 | 125 | 150 | -596 | 211 | -100 | 231 | 317 | 24 | ||
| Net Cash Flow | -8 | 61 | 41 | -54 | -2 | 162 | -189 | 48 | -60 | 96 | 24 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 295 | 235 | 278 | 296 | 232 | 379 | 127 | 133 | 111 | 113 | 116 | 136 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 295 | 235 | 278 | 296 | 232 | 379 | 127 | 133 | 111 | 113 | 116 | 136 |
| Working Capital Days | 144 | 143 | 54 | -102 | -302 | -306 | -279 | -250 | -308 | -270 | -318 | -173 |
| ROCE % | 8% | 13% | 10% | 12% | 13% | 12% | 9% | 17% | 21% | 15% | 18% | 15% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Insurance Gross Premium INR Crores |
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| NBFC Assets Under Management (AUM) INR Crores |
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| Number of Authorised Persons Number |
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Documents
Announcements
- Closure of Trading Window 11h
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Clarification On Increase In Volume- SMC Global Securities Limited By Virtue Of Letter Dated March 16, 2026
18 Mar - SMC Global (18-Mar-2026) clarifies increased trading volume; no undisclosed material information; market-driven.
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Clarification sought from SMC Global Securities Ltd
16 Mar - Exchange has sought clarification from SMC Global Securities Ltd on March 16, 2026, with reference to Movement in Volume.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Mar - Virtual analyst/institutional investor meeting on 09 March 2026; Bharat Connect Conference; no UPSI.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
9 Feb - Transcript of earning con call held on 3rd February, 2026 for the quarter and half year ended on 31st December, 2026
Annual reports
Concalls
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Jul 2025TranscriptAI SummaryPPT
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Oct 2024TranscriptAI SummaryPPT REC
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Feb 2024TranscriptAI SummaryPPT
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Dec 2021TranscriptAI SummaryPPT
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Business Overview:[1][2][3]
a) Broking, Distribution & Trading:[4]
Company maintains an expansive physical and digital footprint, operating through a network of 2,154 authorized persons across 413 cities and 6,485 financial distributors. The segment has successfully transitioned toward a digital-first model, with online penetration reaching 70% as of 9MFY26. A key competitive advantage is its strategic 3-in-1 alliances with seven major PSU and private banks including PNB, UBI, and Ujjivan Bank. Serving a client base of 1.29 mn, the segment’s strategic priorities include deepening these banking partnerships, upgrading trading platforms to expand digital reach, and utilizing research-driven advisory tools to enhance customer engagement.
b) Insurance Broking:[5]
The insurance vertical operates a robust national distribution network consisting of 8 branches, 495 employees, and 16,420 Point of Sales. This infrastructure is further supported by 381 Motor Insurance Service Providers, ensuring comprehensive coverage across Tier-1 and Tier-2 cities. The business is heavily weighted toward General Insurance, which constitutes 91% of the revenue pie. To serve both B2B and B2C networks, the group leverages a proprietary online portal integrated with advanced Artificial Intelligence capabilities.
c) Financing:[6]
Established in 2008 through the subsidiary Moneywise Financial Services Pvt. Ltd., this segment provides a wide spectrum of specialized financial products, including SME Micro LAP, equipment finance, and onward lending to other NBFCs. The operations are conducted through 38 branches spanning seven states, managing a total of 7,591 loan accounts. The lending portfolio is highly diversified, with the largest concentrations in SME Working Capital Term Loans (WCTL) and SME Loan Against Property (LAP).
d) Discount Broking:
Moneywise Finvest Limited offers a discount broking platform viz. Stoxkart which has cost-effective brokerage plans, advanced trading tools, and strategic market insights. The platform also provides advanced features such as option chain with open interest and trading capabilities through both Trading View and Chart IQ charting interfaces. Further, it delivers detailed stock insights powered by Markets Mojo, covering 2,000 listed companies. Also, in FY24, it has launched the Smart Trader plan. In FY25, the client base stood at 1.17 million
e) Merchant Banking:
SMC Capitals Ltd, their Category I Merchant Banking arm, provides corporate advisory, fund-raising and M&A solutions. It is also a partner with Translink Corporate Finance, which is a global leader in mid-market cross-border M&A services operating in over 35 countries.
f) Wealth Management:
The company offers PMS services, client-centric advisory and relationship management through SMC Investments & Advisors Limited. It serves 11,763 clients, managing an AUM of ₹948 crores as of FY25
g) Broking and Clearing services:
SMC Global IFSC Pvt. Limited provides broking and clearing services on NSEIX, India INX and IIBX to its clients. SMC Global IFSC Pvt. Ltd., in FY25, holds a market share of 48.05% in gold and 36.60% in silver traded at the exchange.
h) Real estate:
It started dealing in GIFT city through SMC Real Estate Advisors Private Limited