Smc Global Securities Limited has informed the Exchange about Investor Presentation
Date: 11th December, 2023
To,
Listing Operations BSE Limited, P J Towers, Dalal Street, Mumbai -400001, India
Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai – 400051
Scrip Code: 543263
Symbol: SMCGLOBAL
Subject: Revised Investor Presentation, November, 2023.
Dear Sir(s)/Ma’am
In compliance with Regulation 30(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Part A (15) of Schedule III, please find enclosed copy of the Investor Presentation of the November, 2023.
The same shall be available at the Company’s website i.e. www.smcindiaonline.com
This is for your information and records. Thanking you,
For SMC Global Securities Limited
Suman Kumar E.V.P. (Corporate Affairs & Legal), Company Secretary & General Counsel (Membership No. F5824)
SMC Global Securities Ltd. Investor Presentation November 2023
SMC at a Glance
Branches Across India 180 Including 1 in Dubai
Cities Covered 455
Employees 4,134
Sub-brokers / Authorised Persons 2,485
Network of Financial Distributors 7,077
Client Demat A/Cs 10,04,344
Clearing & Settlement trading members 288
Cumulative AUM/AUA under Mutual Funds INR 33.49 Bn
Running SIPs 67,465
Insurance Policies sold 4,47,639
Insurance Premium INR 12,568 Mn
NBFC AUM INR 10,156 Mn
Ratings: Short Term- ICRA A1+ Long Term- ICRA A (STABLE)
Investor Presentation
Consolidated Net worth
INR 9,907 Mn
5 Year Revenue CAGR* 13.43%
5 Year PAT CAGR* 18.79%
Net D/E 1.02x
• •
All numbers as of Q2-FY24 *Numbers as of FY23
2
SMC Group Overview
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SMC Global Securities Ltd was established in 1994 by founders Mr. Subhash C. Aggarwal and Mr. Mahesh C. Gupta.
• Over the years, the company has grown into a diversified financial services company offering brokerage services, investment banking, wealth management, distribution of financial products, financing, insurance broking, clearing & depository services, fixed income securities, financial advisory services to corporates, institutions, high net worth individuals and other retail clients.
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The company has capabilities and best-in-class products and services.
launched various
innovative digital technology-enabled
Through a strong network of approx. 2,485 Sub Brokers and Authorized Persons the company’s footprint spreads over 455 cities across India.
The company is governed by strong board including 10 independent directors and is run by a highly qualified and experienced management team.
SMC has had a consistent growth track record and is well poised to get larger share of the ever-growing capital markets in India.
The company’s vision is to be a global organization having a dominant position in financial & investment services through customer centric approach.
Consolidated Revenue (INR Mn) & EBITDA (%)
11,169
26.42%
12,116
22.28%
24.63%
7,009
9,013
21.67%
FY21
FY22
FY23
H1-FY24
H1-FY24 Revenue Pie (%)
12%
27%
61%
Broking, Distribution & Trading
Insurance
NBFC
Investor Presentation
3
Business Structure
SMC Global Securities Ltd.
Insurance Broking
Broking, Distribution & Trading
Financing
Life Insurance
Equity, Commodity, Currency & Full-Service Broking, MTF
Clearing Services
Financial Products Distribution
Wealth Management
SME – Loan Against Property (LAP)
SME – Working Capital Term Loan (WCTL)
Proprietary Trading
Fixed Income
Discount Broking
Portfolio Management
SME-Asset Finance
Supply Chain Financing
General Insurance
Investment Banking
Real Estate / Mortgage Advisory
Institutional Broking
Research Services
Onward Lending
Capital Market Funding (CMF)
Gift City (IFSC)
Gold Loan
Investor Presentation
4
India INX
NSE IX
IIBX
Board of Directors
Mr. Subhash C. Aggarwal Chairman & Managing Director, SMC Group He is the promoter and co-founder of SMC Group and an active contributor to the good governance. He is a fellow member of the Institute of Chartered Accountants of India (ICAI). He is senior member of management committee of ASSOCHAM.
Mr. Ajay Garg Director & CEO – SMC Global Securities Ltd. MD-SMC Global IFSC Pvt. Ltd. Director - SMC Insurance Brokers Pvt. Ltd., Moneywise Financial Services Pvt. Ltd. He is a Fellow Member and rank holder of ICAI. With a wide and rich experience of about 26 years in Securities market, he heads the core businesses of Broking & Clearing services at SMC. He was awarded the most promising Business leader of ASIA 2019 by Economic Times.
Mr. Himanshu Gupta Director & CEO-Moneywise Financial Services Private Ltd. Director-SMC Global Securities Ltd., Director-SMC Comtrade Ltd. He is a Fellow Member of the Institute of Chartered Accountants of India (ICAI) having a rich experience of around 13 years in Financing & Securities market along with a strong hold into the intricacies of the capital market.
Mr. Kundan M. Agarwal Independent & Non-Executive Director He serves as Independent and Non-Executive Director of SMC Global. He is a fellow member of Institute of Chartered Accountants of India (ICAI) and has experience and professional expertise of more than four decades in financial services industry.
Dr. Madhu Vij Independent & Non-Executive Director She holds a Master degree in Commerce and a doctorate degree. She has an experience and exposure of over three decades as a Professor of Finance at the Faculty of Management Studies, University of Delhi. She had been appointed as Central Government nominee in central council of Institute of Company Secretaries of India.
Mr. Mahesh C. Gupta Vice Chairman and Managing Director, SMC Group He is the promoter and co-founder of SMC Group and has been associated with the Company as the backbone since its inception which makes him a pivotal pillar of SMC. He is a fellow member of the Institute of Chartered Accountants of India (ICAI). He is recognised by CEO Insight magazine in list of “Top 10 leaders in Investment company”.
Mr. Anurag Bansal Whole Time Director-SMC Global Securities Ltd., Director-SMC Capitals Ltd., Director and CFO-SMC Global IFSC Pvt. Ltd. He is a rank holder and fellow member of the Institute of Chartered Accountants of India (ICAI) with a wide and rich experience of about 25 years in financial markets. He is also a member of Institute of Cost Accountants of India (ICMAI).
Ms. Shruti Aggarwal Whole Time Director- SMC Global Securities Limited, Director- SMC Global IFSC Private Limited She is an MBA from London Business School, a member of (ICAI) and has cleared all three levels of CFA from the CFA Institute, USA. She is currently also leading the Corporate Finance function at SMC Investments & Advisors Ltd.
Mr. Hari D. Khunteta Independent & Non-Executive Director He is a fellow member of ICAI and is a commerce graduate from University of Rajasthan with experience of over 48 years in the field of financial management, Investor services, Corporate Governance & Resource mobilization from Domestic as well as International market. He had been MD and Finance Director of REC Ltd.
Mr. Chandra Wadhwa Independent & Non-Executive Director He is the fellow member ICMAI & ICSI. He holds Bachelors of Law as well M. Com Degree from Delhi University and has exposure of over 41 Years in the field of Financial cost management accounting as well as in cost management auditing sector. He is the former president of the Institute of Cost Accountants of India.
Investor Presentation
5
Group Company Chairman/ Directors & Key Management Personnel
Mr. Naveen ND Gupta Independent & Non-Executive Director He has been a chartered accountant for around 26 years and is widely known for his role in making the income disclosure Scheme, 2016 a success. He is the former president of the Institute of Chartered Accountants of India and Director in various companies.
Mr. Gobind Ram Choudhary Independent & Non-Executive Director He is commerce graduate from University of Calcutta. He is Executive Director at Anmol Industries Ltd., also an active member at Bharat Lok Shiksha Parishad, Delhi. A council member with western UP council of CII, Executive member of Indian Industries Association of Greater Noida and member of PHD chamber.
Mr. Dinesh Kumar Saraf Independent & Non-Executive Director He is member of the Institute of Cost Accountants of India and Institute of Company Secretaries of India, graduate [B.com(Hons)] from Shri Ram Collage of Commence from Delhi University and he has cleared examination of Valuer (Securities & Financial Assets) conducted by IBBI. He has held major positions like Chairperson of Petroleum and Natural Gas Regulatory Board, Chairman & Managing Director of Oil and Natural Gas Corporation Limited & Chairman of ONGC group companies, various positions in Oil India Limited and DCM Shri Ram Group. Currently he is associated with Indian Institute of Petroleum of CSIR as Chairman- Research Council.
Mr. Narender Kumar Independent & Non Executive Director He is a retired IAS and Ex- Labour Commissioner. He has more than 34 years experience.
Mr. Hemant Bhargava Independent & Non-Executive Director
He is a Post Graduate in Economics, Masters in Financial Management and a Graduate [B.Com (Hons)] from Shri Ram College of Commerce. He has more than 39 year’s professional experience with expertise in finance and insurance. He is adept at establishing new strategic initiates with multiple stakeholders, designing innovative marketing & sales campaigns.
Dr. D. K. Aggarwal CMD-SMC Investments and Advisors Ltd. CMD-SMC Capitals Ltd. Chairman & Director-SMC Real Estate Advisors Private Ltd. Chairman & Director-SMC Comtrade Ltd. He is the Fellow Member of The Institute of Chartered Accountants of India (ICAI) with over two decades of experience in the securities market & financial services. He is the former chairman of capital market committee of PHD chamber of commerce.
Mr. Pravin K. Agarwal Whole-Time Director- SMC Insurance Brokers Pvt. Ltd. He actively handles the development and operations of our insurance broking business. He is a man of alternative skills and solutions that has led to SMC’s substantial expansion and diversification. He has more than a decade of pivotal work experience in Insurance and Financial Industry.
Mr. Pranay Agarwal Director & CEO - Moneywise Finvest Ltd. Director - Moneywise Financial Services Pvt. Ltd. He is a qualified Chartered Accountant from the Institute of Chartered Accountants of India (ICAI) and a commerce graduate from the University of Delhi. He is playing a leading role in StoxKart (Discount brokerage platform).
Investor Presentation
6
Group Company Chairman/ Directors & Key Management Personnel
Mr. Ayush Agarwal Director - SMC Real Estate Advisors Private Ltd. Director - Moneywise Finvest Ltd. CIO - SMC Private wealth He is an MBA (PGP-FMB) from SP Jain Institute of Management and Research, Mumbai, and a graduate from University of Delhi. He is the Chief Investment Officer of SMC Private wealth Vertical at SMC Global Securities Ltd. managing and handling portfolio management activities.
Ms. Anshika Aggarwal Director- SMC Investment and Advisors Ltd., Whole Time Director- SMC Real Estate Advisors Pvt. Ltd. A qualified Chartered Accountant, holding a B.Com (Hons.) degree from Delhi University, she is also a member of Young Business Leaders Forum – PHD CCI. She carries with her entrepreneurial experience, running a fashion social commerce startup, Modestreet Fashion as Co-Promoter and Director for 1 year. Prior to which, she was with Ernst & Young for nearly 4 years in business tax and regulatory consultancy.
Ms. Akanksha Gupta Whole Time Director - SMC Insurance Brokers Pvt. Ltd., Director- SMC Global IFSC Pvt. Ltd., Director- SMC Comtrade Limited She is a member of the ICAI Institute and is also a Chartered Financial Analyst (CFA). She is an experienced and confident lady who inspires everyone with her innovative ideas, conviction and new perspectives. Her ability to see the matters of the company and unfailingly rise to meet the challenges boosts the effectiveness of the group.
Mr. Rajendra P Mahipal Independent & Non-Executive Director - SMC Insurance Brokers Pvt. Ltd. He holds M. Com degree from Rajasthan University and is also a fellow member of the Institute of Chartered Accountants of India. He is a promoter and director of Pink city Electronics Pvt. Ltd. and has over 41 years of experience in import Export, Finance, Administration and Capital Market.
Ms. Shweta Aggarwal Director – SMC Capitals Ltd. She is a member of the ICAI and has also cleared all levels of Chartered Financial Analyst (CFA) Program from U.S.A. She is responsible for the formation of the business, and spearheads the growth plans and business strategy of the investment banking division.
Ms. Reema Garg Chief Human Resource Officer, Director-SMC Global Securities Ltd. Director-Moneywise Finvest Ltd. She holds B.Sc. (Computer Science) from University of Delhi and Masters in Computer Applications (MCA).
Mr. Vinod Kumar Jamar President & Group CFO He is responsible for managing financial reporting, audit, compliance of tax laws (direct and indirect), planning and capital structure. He is also a fellow member of Institute of Chartered Accountants of India (ICAI).
Mr. Suman Kumar E.V.P (Corporate Affairs & Legal), CS & General Counsel He leads the Corporate Affairs & legal matters of the SMC Group. He serves as the Executive Vice President (Corporate affairs) & Company Secretary of the SMC Group. He is fellow member of ICSI & a law graduate from University of Delhi.
Investor Presentation
7
Key Milestones
SMC Global took membership of NSE and started broking business
Insurance Broking
Wealth Management Investment Banking Online Trading Currency Broking Financing Business (NBFC)
Corporate Hedging Desk
Trading cum clearing member of India INX & NSE- IFSC, GIFT City, Gujarat
Discount Broking - StoxKart
Became Clearing and Trading Member of India International Bullion Exchange IFSC and also incorporated Category III (AIF)
1995
2006
2008
2010
2016
2019
2021 2022
2003
2007
2009
2014
2017
2021
Commodity Broking launched
NRI Business Institutional Desk
Received BSE membership as SAM Global Securities amalgamated into SMC Global Securities
Real Estate Advisory Fixed Income Broking Mortgage and Loan Advisory
Point of Sale Persons (POS) – Approved by IRDAI
Listed on NSE and BSE, Launched SMC Gold Coins
Investor Presentation
8
Geographical Reach
Srinagar
Jammu
SMC Branch Offices 180 Branches in India including Dubai 455 Cities covered across India 2,485 Sub Brokers/ Authorised Persons
Dubai
Jodhpur
Kota
Udaipur
Amritsar
Jalandhar
Patiala
Bhatinda
Sirsa
Kangra
Ludhiana
Chandigarh Yamuna Nagar
Karnal
Dehradun
Hisar
Noida
Sri Ganganagar
Rohtak
Gurugram
Faridabad
Delhi New Delhi
Greater Noida
Moradabad
Bareilly Ghaziabad
Jaipur
Agra
Saharanpur
Gangtok
Jorhat
Aligarh
Ayodhya
Gorakhpur Kanpur
Varanasi
Lucknow
Muzaffarpur
Meerut
Sultanpur
Patna
Sonbhadra
Gaya
Guwahati
Shillong
Silchar
Agartala
Bhagalpur
Kolkata
Jamshedpur Burdwan
Durgapur Malda
Dhanbad Bokaro Ranchi Uttar Dinajpur Alipurduar
Asansol
Dakshin Dinajpur
Behrampore
Raigarh
Bilaspur
Raipur
Bhilai
Sambhalpur
Bhubaneswar
Visakhapatnam
Kakinada Bhimavaram
Vijayawada
Siliguri
Corporate Office Broking Insurance Real Estate Overseas Financing Distribution
Ahmedabad
Vadodara
Indore
Rajkot
Bhopal
Surat
Jalgaon
Nagpur
Akola
Nashik
Aurangabad
Ahmednagar
Thane
Mumbai
Pune
Hyderabad
Secundarabad
Godavari
Guntur
Nellore
Chennai
Mangalore
Bengaluru
Kochi
Coimbatore
Madurai
Investor Presentation
9
Awards & Accolades
2023 Member Partner – New Initiatives & Market Outreach Commodity
2022 MCX Awards Leading Member- Bullion Segment
2022 Significant Contribution To The Commodities Market
2022 MCX Awards Leading Member- Options
2021 KRISHI Award for developing Retail Segment Participation
2019 Premier Depository Participant in Gold Category
2019 Fastest Growing MFI North in Best Star MF Online- BSE
2019 Business Excellence Award (Order of Merit)
2018 Best Fastest Growing Commercial NBFC
2018 Best Financial Service Provider
2019 Broking House Non-Agricultural Commodities of The Year
2018 “Regional Retail Member of the Year (North)”
2017 Best Broker with In-House Research In Bullion Industry
2017 Krishi Pragati Award, 2017
2016 NBFC of the year (Northern region)
2015 Property Consultant of the Year - Residential
2017 Commodity Broker of the Year
2015 Best Financial Service Provider
2017 Best Performing Retail Broker of Northern Region
2017 Best Online Trading Services Broker
2016 Order of Merit- Achieving Market Leadership
2015 Corporate Broker of the year – National & Best Real Estate Broker of the year
2014 Best Commodity Broking House
2014 Best Merchant Banker – Capital Restructuring services
Investor Presentation
10
Key Strengths
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Top Management of SMC has Over 30 Years of experience in industry
• Well established and deeply penetrated national brand with strong reputation and good recall
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Group has extensive corporate relationships
An ever-growing database of corporate and retail clients
Innovative use of digital technology-enabled capabilities, best-in-class products and services
Strong network of approx. 2,485 Authorized persons and Sub-brokers, with a footprint covering over 455 cities across India
• Wide range of financial products under one roof
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SMC has earned trust that cements “One Transaction Lifetime Relationship,” the belief that centers on managing, growing and protecting the investment of our clients for generations
Investor Presentation
11
Broking, Distribution & Trading
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Broking, Distribution & Trading
Broking business comprises of brokerage, including discount brokerage “Stoxkart,” dealing in equities, commodities, currency derivatives and other securities on behalf of customers, clearing services across all major stock exchanges and depository services.
Distribution business encompasses distributing third-party financial products like Mutual Funds, IPOs, FPOs, Corporate FD’s and Bonds and various other capital market products.
6,075
Segment Revenue* (INR Mn)
7,719
7,678
4,451
This segment also covers wealth and portfolio management services along with providing investment banking services and advisory in real estate and mortgage / loan advisory.
The company also houses proprietary arbitrage trading through a new generation algorithmic trading/HFT.
Procurement and placements of debt instruments like G-Secs for various corporate clients is carried out under the fixed income desk.
SMC has banking tie ups with leading institutions like Punjab National Bank, Union Bank of India, Indian Overseas Bank, Karur Vysya Bank, Dhanlaxmi Bank, Ujjivan Small Finance Bank as execution partners for broking services and also has “Discount Brokerage” tie up with PNB, Union Bank of India, Indian Overseas Bank and Ujjivan Small Finance Bank.
Increasing Online Penetration
Authorised Persons / Sub-Brokers
50%
50%
FY21
Investor Presentation
43%
57%
41%
59%
47%
53%
2,574
2,513
2,548
2,485
FY22
Online
FY23 Offline
H1-FY24
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
*includes other income
H1-FY24 Revenue Pie (%)
39%
61%
Broking & Trading
Others
13
Broking
Equity, Commodity & Currency Broking:
• SMC is serving more than 10 lakh clients under the broking segment, including more than 2,28,000 clients under Stoxkart.
• Equity segment under broking has been successful in generating a combined turnover of approx. INR 176.51 Tn* in Q2-FY24 as compared to a turnover of INR 175.59 Tn* in Q1-FY24.
• Recorded our trading volume of INR 0.88 Tn* in commodity segment and INR 1.64 Tn* under currency segment for Q2-FY24.
• Total approx. market share of 0.86% in equity, 1.30% in commodity and 1.51% in currency markets.
Clearing Services:
• SMC is a leading name in clearing services whereby it provides clearing & Settlement services to 288 trading members across multiple stock exchanges.
• Member of NSE, BSE, India INX, NSE IFSC Exchange at GIFT City, MCX, NCDEX & MSEI in India and DGCX (Dubai Gold & Commodity Exchange) in UAE.
• SMC is one of the few clearing service providers having a PAN – India reach.
Broking Clients (INR Thousands)**
Broking DP AUA (INR Bn)
930
1,002
779
647
673
495
527
Average Daily Turnover in Broking (INR Bn)
2,911
2,910
248
1,410
627
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
*Includes turnover from proprietary and clearing services from cash and derivative segments **Includes broking clients under Stoxkart
Investor Presentation
14
Discount Broking – StoxKart
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SMC has successfully launched a Discount broking platform in 2019 under the brand name StoxKart. It’s a first-of-its-kind in the broking industry where customers are charged only for profitable transactions.
• Optimal usage of existing infrastructure is being leveraged to great cost savings targeting industry
competitive prices. StoxKart is one of the very few brokers to offer API based trading services which enables the clients to write their own software programs for professional trading. StoxKart has added more than 2,28,000 clients till September 2023, and this has the potential to show exponential levels of growth. (StoxKart clients are unique from traditional broking clients) Launched new trading app, which will further increase the market share of SMC. It is rated 4 plus on play store and app store and getting good response. Key Features:
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Big Saving in Brokerage- INR 15 flat on intraday trade. Brokerage per executed order regardless of the trade size or time and that too only on the profitable trades. Free Delivery Trades- Zero brokerage on delivery trades. Advanced Charting Facility- Advanced and cutting-edge charting tools with 80+ technical indicators on real-time basis. Advanced Trading Terminal- Seamless user-experience on mobile, browser & desktop trading platforms to help the customers trade on the move.
• Quick Trigger Alert- Get quick trigger alerts for price movements, pending orders, executed
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orders etc. Real Time Support- A dedicated team of experienced professionals ready to offer any kind of assistance regarding customer queries.
Investor Presentation
StoxKart Clients
228,239
194,243
105,843
44,934
FY21
FY22
FY23
H1-FY24
15
Digital Ecosystem for Broking
Client Engagement Developing research reports in HTML5 (Mobile Responsive Format). Creating campaigns using Social Media, Investor websites like Moneycontrol.com, Web banners, etc with an objective of adding value during prospect’s awareness.
ACE API It is a powerful REST API, which to resquests uses HTTP fetch live/historical automate data, trading strategies and monitor portfolio in real time.
•
Market Mojo SMC has entered into an agreement with Markets Mojo, which is in the business of providing Market Data & Research Support of Services distribution and is also a SEBI registered Investment.
channels
various
across
Quantitative Trading Desk(HFT) • trading Specialize strategies across multiple asset classes through cutting edge in- house trading platform.
in automated
• Next generation advance mobile trading platform ‘ SMC ACE’
• Provides Robo Advisory
to the clients
Innovative Trading Tools • Availability of next generation tools for trading such as SMC ACE, SMC Easy Invest, SMC Algotrader, SMC Autotrender, Algo and HFT Trading.
• Customized automated trading platform based on Algorithms
• Platform
online for trading through website and Mobile App
• Online App for investing in mutual funds, FDs and various other financial instruments
Digital Presence • Active social media presence on including platforms Twitter,
various Facebook, LinkedIn, Youtube and Quora.
Instagram,
Investor Presentation
• An In house automated software which is totally unique to the system. • Our team of software develop professionals and various statistical strategies for trading.
technical
•
Faster processing with better UI/UX and provides expert trading suggestions.
• Discover the power of
•
intelligent investing with Trading View and ChartIQ. Easy-to-use and lightning – fast mobile App, also enables to make thematic investments.
Investment Advisory Portfolio
•
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SMC has tie up with Narnolia, has created one of the best Process -Driven BUY-side Research teams in the country with capabilities spread across asset classes and investment strategies.
SMC joins hands with Dynamic Equities Private Limited, brining research backed advisory baskets that aims to deliver superior risk adjusted returns absolutely, relatively & consistently.
Website Traffic (In Mn)
3.90
3.69
3.32
1.18
FY21
FY22
FY23
H1-FY24
Application Installations
507,295
328,000
176,793
89,575
FY21
FY22
FY23
H1-FY24
16
Distribution
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SMC offers distribution services of financial products including IPO’s, Mutual Funds, Company Fixed Deposits, Bonds, through its network of branches and channel partners across India.
Mutual Funds AUM (INR Bn)
33
SMC also provides retail financing through NBFC division in IPO's , FPO's & Bonds.
Pan-India network of 7,077 independent financial distributors.
SMC is ranked amongst top 20 syndicators in most of the Debt & Equity Issuances in retail segment.
Distributing Mutual Fund schemes for all AMCs and has built a cumulative Asset under Management (AUM) of above INR 33.49 Bn with 67,465 active SIPs for clients.
30
31
30
Total Distributors
6,941
6,928
7,077
6,335
GOI Taxable & Capital Gain Bonds Procurement (INR Mn)
34,527
38,467
35,668
FY21
FY22
FY23
H1-FY24
Corporate FD Procurement (INR Bn)
56
59
36
15,729
30
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
Investor Presentation
17
Proprietary Trading & Fixed Income
High-Frequency Trading (HFT):
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HFT is a method of trading that uses powerful computer programs to transact a large number of orders in fractions of a second. It uses complex algorithms to analyze multiple markets and execute orders based on market conditions.
• We have an in-house team of software professionals, developing various alpha generating HFT strategies.
Arbitrage/ Algorithm Trading:
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SMC deploys its surplus funds into generating income from proprietary arbitrager business.
• Under arbitrage we use Algo trading and high frequency trading infra to capitalize on the market inefficiencies in equity, commodities and currency
segment of various exchanges.
• We are using state of the art hardware /software both outscored and
in house and also low latency network for running our various arbitrage
strategies written by in house software team as well as outsource team vendors.
•
SMC also has very talented Quant team which makes number of alpha generating strategies to give market neutral absolute return .
Fixed Income:
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The fixed income desk executes the procurement and placements of a wide range of debt instruments.
Served more than 900 clients in H1-FY24.
SMC’s total turnover upto September, 2023 stood at INR 19.23 Bn and INR 4.93 Bn in WDM section.
At this desk, SMC deals with Government securities (G-Sec), State Development Loans (SDLs), Debentures (PSUs, Corporates, NBFCs, Banks), Tax-Free Bonds, Money Market Instruments, Certificate of Deposits, Commercial Papers, Treasury Bills, Perpetual Bonds, Other Debt Market Instruments.
Serving a broadly diversified client profile consisting of State Electricity Boards, Private & PSU Corporate PFs, Gratuity Trusts, Schools / Universities / Education Institutes, Charitable Trusts, Banks/ Mutual Funds/ Insurance Companies, Debt Brokers, Corporate Treasuries, HNIs, etc.
Investor Presentation
18
Advisory
Wealth Management:
Total Clients served under wealth management are 11,134 with AUM/ AUA of INR 7,969 Mn.
• • We have our direct sales branches/ regional offices at Delhi, Mumbai, Bangalore and Pune. • Portfolio Management:
Awarded Best Wealth Management company of India by Business Sphere.
•
Under our PMS desk, we focus on buying fundamentally sustainable growing businesses and outperform the benchmark indices by investing in equity and equity related instruments including mutual funds. Investment Banking:
•
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SMC Capitals Ltd. is a Category I Merchant Banker registered with SEBI providing a full spectrum of equity capital markets services, using an Industry-focused and Knowledge-driven approach. SMC Capitals, since 2008 has been part of more than 50 deals in the Public Issue Management, M&A Advisory, Private Equity & Debt Advisory Services and process management for consolidation products.
Real Estate:
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Fully Integrated real-estate solution provider for end-users, investors & developers, one of the major source of lead generation is Digital Marketing (Google, Facebook,etc.) Supported by 1,200+ exclusive Real Estate sub-brokers and dedicated team of 300+ Employees 7,539 transactions done since 2015 and value of property sold amounting to INR 41.57 Bn. Tie-ups with leading developers like VTP Realty, Vilas Javdekar, Firefox, NDLC, Ekana, Jhamtani, Saheel, Godrej, Lodha, Kohinoor, Shapoorji, TATA Housing, Shobha, Mantra, Kolte Patil, Marathon, Hiranandani, Adani, ATS, Wave City and many more. Focused Locations: Delhi NCR, Mumbai, Lucknow, Pune.
• Mortgage Advisory: •
Advice on a variety of secured and unsecured mortgage products including home loans, property loans, business loans, working capital loans, project & construction finance. Presence in 7 major cities with 1,282+ mortgage distribution sub-brokers. 40+ Tie-ups with major foreign banks, Private Banks and NBFCs, also launched online sourcing platform: indiakaloan.com
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Investor Presentation
Wealth AUM/AUA (INR Mn)
5,400
6,097
4,400
7,969
FY21
FY22
FY23
H1-FY24
Marquee Investment Banking Deals
BSE Limited
Coromandel International Limited
IPO - BRLM
M&A Advisory
VRL Logistics
Private Equity Advisory
Muthoot Fincorp Limited Debt Public Issue – Lead Manager
L&T Infrastructure Finance Limited Long Term Infrastructure Bonds – Co Lead Manager
Shriram Transport Finance Company Limited Debt Public Issue – Lead Manager
Kosamattam Finance Limited
Debt Public Issue – Lead Manager
IDFC Limited Long Term Infrastructure Bonds – Co Lead Manager
Venus Pipes & Tubes Limited
IPO – Sole BRLM
19
Broking Industry Outlook
•
Equity Broking industry is likely to clock a total revenue of ~INR 28,000-30,000 crore in FY 2023, registering a year-on-year (YoY) growth of 10%, the revenue growth rate is expected to be flattish in FY24.
• High investor awareness, increased retail interest across market segments, easier and faster means to access the markets and continuing FII inflows will continue to boost these numbers.
•
In FY 2022, full-service brokers accounted for a significant share (46.23%) of the broking industry in India, followed by discount brokers (42.46%) and hybrid brokers (11.31%).
Rising Penetration of Demat Accounts in India
6.50%
2.10%
2.40%
2.70%
4.10%
3.10%
• Value added service offering becomes a key differentiator amid rising competitive
FY17
FY18
FY19
FY20
FY21
FY22
pressure and decreasing interest rates.
•
•
Steady increase in trading activity can be seen with the trading volumes peaking every quarter.
The industry witnessed a deceleration in the pace of client accretion. In 11 months of FY23, client addition was at ~2.3 crore compared to ~3.46 crore in FY22.
• Recently, government hiked STT on sale of futures and options to an extent of ~25%. This rise will result in higher cost for participants impacting robust momentum seen in volumes.
•
Increasing regulatory compliance and associated cost, larger brokerages are expected to gradually garner market share while consolidation is expected to continue with the alignment of small brokers with larger established player.
Industry ADTO - Equity Retail (INR Tn)
8.1
6.2
6.8
2.9
3.2
3.6
FY17
FY18
FY19
FY20
FY21
FY22
Source:- IBEF, ResearchAndMarkets.com, business standard & ICICI Direct: Indian Brokerage Report
Investor Presentation
20
Insurance Broking
21
Insurance Broking
•
•
•
•
•
SMC Insurance Brokers Pvt. Ltd. which is a Direct Insurance Broker registered with IRDAI (Insurance Regulatory and Development Authority of India) provides a complete array of services in Life Insurance and General Insurance Category including consulting, risk analysis, policy serving and claim settlement assistance.
SMC is one of the largest players in India in the General Insurance Retail Broking as well as for Life Insurance in India.
It provides these services through 8 branches across the country with 551 employees, 14,565 Point of Sales (POSs) and 298 Motor insurance Service Providers (MISPs) servicing a retail customer base of more than 9,50,000 a year.
The company operates independently of insurance companies, representing clients and rendering impartial advice to protect client’s interests.
Customers taking insurance through SMC benefit by lower premium and/or better quality of insurance cover, expert consultancy, practical pre-sale advice and efficient post-sale services.
Investor Presentation
Segment Revenue* (INR Mn.)
3,482
2,760
2,452
2,008
FY21
FY22
FY23
H1-FY24
*Revenue recognition changed from net to gross basis from FY18.
No. of Policies (In Thousands)
739
802
958
448
FY21
FY22
FY23
H1-FY24
22
Insurance Broking
General Insurance (GI)
Non-Life/ General Insurance contributes around 94.69% of the total revenues of the Company.
• Within this segment, sales primarily happen through MISP (Motor Insurance Service
Provider), POS (Point of Sales person), direct sales channel-foot on the street model.
•
•
SMC had 2.78% of Industry market share for Insurance Motor premiums as on 31st March, 2022.
The General Insurance business segment has following sub verticals under which policies are sold:
Insurance Gross Premium (INR Mn)
27,166
20,840
17,364
12,568
• MISP: Motor Insurance Service Provider
FY21
FY22
FY23
H1-FY24
•
•
GI Retail: Personal Line Products offered i.e. Motor, Health, Travel, Home Insurance etc.
GI Corporate: Marine insurance, Fire insurance etc. to corporate, institutional and government bodies.
Life Insurance (LI)
This segment contributed around 5.31% of the total revenue in insurance broking.
• We have a tie up with major Life Insurance Companies for procuring business with an
overall range of 40- 45 products to offer to our clients.
• Our offerings include varied products viz Term Plans, Market Linked Investment Plans,
Endowment plans promising guaranteed returns for varied client requirements.
Industry data source: IRDAI Annual report FY 21-22
Investor Presentation
H1-FY24 Revenue Pie (%)
5%
95%
General Insurance
Life Insurance
23
Insurance Broking - Scalable Business Model
Distribution
• Deep and wide national coverage • Strong presence in Tier-1 and Tier-2 cities • Leveraging SMC Global’s (Parent) franchisee network
Processes
• Best in industry quality processes • 100% verification of all leads to ensure no mis-selling • Emphasis on employee training and development • Complying to data confidentiality, regulatory complianceand IRDA guidelines
Technology Platform
• www.smcinsurance.com online portal has developed for catering to B2B and
B2C network
• The portal has Artificial Intelligence features • Average Monthly spend of INR 50 lakhs (approx.) on technology development
POS Model
• Point of Sale, an individual authorized by IRDA for sales/ servicing of
the
Insurance policies on behalf of the Company
• Post online training & certification the individual sources pre underwritten
Insurance policies (Motor, Travel, Personal accident & home insurance)
• MISP guidelines effective Nov 2017 have paved way for large business
opportunities through OEM dealers
• First broker in OEM insurance program to successfully launch entire insurance
MISP model
program compliant with MISP guidelines
• First online portal for MISP enrollment – training, examination and registration • First insurer evaluation for Automotive Insurance Program through online RFP
by insurers & dealer rating of insurers
Investor Presentation
Point Of Sales (POS)
13,672
14,565
11,100
12,000
FY21
FY22
FY23
H1-FY24
Motor Insurance Service Providers (MISP)
370
282
294
298
FY21
FY22
FY23
H1-FY24
24
Insurance Industry Outlook
• The Insurance industry in India is expected to reach USD 280 Bn by 2025 with a CAGR of 12-15%. Life insurance industry in the country is expected to grow 5.3% annually from 2019 to 2023. India’s general insurance market is expected to grow at a compound annual growth rate of 6.2% during 2019-2023.
Insurance Premium as a % of GDP
0.80%
0.90%
1.00%
0.90%
0.90%
1.00%
Insurance reach is still low in India. Overall insurance penetration (premiums as % of GDP) in India was 4.2% in FY22, providing a huge underserved market; with life insurance penetration at 3.2% and non-life insurance penetration at 1.00%.
Investment corpus in Indian insurance sector might rise to USD 1 Tn by 2025.
2.70%
2.80%
2.70%
2.80%
3.30%
3.20%
In FY23, premiums from new businesses of life insurance companies in India stood at USD 44.85 Bn.
FY17
FY18
FY19
FY20
FY21
FY22
Life
Non-Life
•
•
•
•
LIC alone contributed over 60% to the total new business premium collection. The insurer received close to US$ 27.93 billion as premium in FY23 compared to US$ 24.06 billion in FY22.
• Premiums from India’s life insurance industry is expected to reach US$ 317.98 billion
by FY31.
•
In India, gross direct premiums written of non-life insurers reached INR 2,569 Bn in FY23 from INR 2,208 Bn in FY22, driven by strong growth from general insurance companies.
• Higher personal disposable incomes would result in higher household savings that will be channeled into different financial savings instruments like insurance and pension policies.
Source: IBEF, Care edge Rating
Investor Presentation
Insurance Premiums Per Capita (In USD)
18
55
19
55
19
58
19
59
22
69
13.2
46.5
FY17
FY18
FY19
Life
FY20
FY21
FY22
Non-Life
25
Financing (NBFC)
26
H1-FY24 NBFC Business in numbers
93 Channel Partners 22 Branches
Employees 329
Number of Lenders 23
Collection Efficiency Approx. 99%
Net Worth INR 4,092 Mn
Loan AUM INR 10,156 Mn
Cumulative Loans Disbursed INR 26 Bn+
NNPA % 1.30%
ROTA % 4.62%
Total Income INR 894 Mn
Total Borrowings/Leverage Ratio INR 6,789 Mn / 1.66x
Secured Loans % 54%
OPEX to AUM 4.68%
Cost of Borrowing % * / Spread 9.70% / 4.61%
Credit Cost-ANR / PCR 1.78% / 44.29%
Investor Presentation
* Includes borrowing from Banks, F.I. and NCDs
27 27
NBFC – Middle Layer
•
In the year 2008, SMC started providing financing services through its wholly owned subsidiary, Moneywise Financial Services Pvt. Ltd. (SMC Finance).
• The company is dealing in wide spectrum of financial products like SME- LAP (Loan against property), SME-Onward-lending (to NBFC/MFI), SME Equipment finance (Medical & Industrial equipment’s), SMEWCTL (Unsecured business loans), Gold Loans, Loan against securities and Supply Chain financing.
• The company has further expanded Gold Loan business by opening three more dedicated Gold
Loan branches in Delhi in Q2-FY24
SME WCTL
SME LAP
Onward Lending
SME Assets
CMF
Gold Loan
Supply Chain Financing
Consumer Durables
Total
AUM (INR Mn)
4,528
3,024
1,564
36
120
24
568
60
129
3
191
6
146
12
10,156
5
6
Tenure (Months)
Rate of Interest (Range) (%)
18-20
10-15
14.5-16.5
13-15
18-20
10-18
18-20
18-20
No. of Clients
2,904
147
73
38
146
1,687
6
3,766
8,767
* All numbers as of Q2-FY24
Investor Presentation
Segment Revenue (INR Mn)
1,319
985
827
894
FY21
FY22
FY23
H1-FY24
H1-FY24 Lending Portfolio
2%
6%1%
30%
15%
1%
45%
SME-Loan Against Property (LAP) Consumer Durable Loans Onward Lending Supply Chain Financing
SME-Working Capital Term Loan (WCTL) Capial Market Funding (CMF) SME-Asset Finance Gold Loan
28
Borrowing Mix Diversification
• Increasing diversity in borrowing profile with borrowing from bank & financial institutions. • Continued plan to raise additional funds through diversified sources and through various
instruments.
• Cumulative Asset/ Liability mismatch, surplus of INR 804.4 Mn in 30 days bucket which is well
under control as per RBI guidelines.
Lending Institutions
Investor Presentation
Diversified Borrowing Mix
42%
13%
45%
FY21
49%
16% 7%
27%
FY22
78%
9% 14%
FY23
65%
11% 12% 12%
H1-FY24
NCD
Corporate Borrowing
NBFC & FI
Bank
Borrowing Program Supported By Superior Ratings
Rating Type
Rating
Rating Agency
Long term bank loans
CARE A- (stable)
Long term bank loans
ICRA A- (stable)
NCD
PP-MLD
CARE A- (stable)
ICRA A- (stable)
CARE
ICRA
CARE
ICRA
29
H1-FY24 Key Business Trends - NBFC
Lending Portfolio 2% 6%1%
30%
15%
1%
45%
Disbursements (INR Mn)
8,583
4,310
4,449
2,810
NII (INR Mn) & NIM (%)
939
750
11.8%
11.8%
578
12.1%
1,000
900
800
700
600
500
400
300
200
100
618
11.4%
SME-Loan Against Property (LAP) Consumer Durable Loans Onward Lending Supply Chain Financing
SME-Working Capital Term Loan (WCTL) Capial Market Funding (CMF) SME-Asset Finance Gold Loan
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
GNPA % & NNPA %
CRAR %
PAT (INR Mn)
361
6.17%
3.66%
2.83%
1.99%
2.27%
2.32%
1.44%
1.30%
FY21
FY22
GNPA%
FY23
NNPA %
H1-FY24
58%
51%
40%
37%
169
224
221
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
Investor Presentation
30
NBFC Industry Outlook
• Non-Banking Finance Companies (NBFCs) have played an important role in the Indian financial system by complementing and competing with banks, and by bringing in efficiency and diversity into financial intermediation.
• NBFCs have evolved considerably in terms of operations, heterogeneity, asset quality and profitability, and regulatory architecture. Going forward, the growing systemic importance and interconnectedness of this sector calls for regulatory vigil.
• The regulatory approach of the Reserve Bank has adapted to the increase in complexity of the entities within the NBFC sector as well as the growing significance of NBFCs within the financial sector.
• The number of registered MSMEs has grown to 63 Mn units at a growth rate of 18.5% from the previous year with the launch of Udyog Aadhaar Memorandum policy promoting business activities in the country.
•
India has a large unmet SME credit as less than 14% of these SMEs have access to credit facilities which brings the potential addressable market of USD 819 Mn under this credit gap.
• Availability of good credit borrowers supported with rising income levels as demand is being fuelled by economic growth. Total disbursements in MSME have increased YoY by ~24% in Q2- FY23.
• Government polices like “Atmanirbhar Bharat”, and “Make in India” promote the facilitating of
credit to MSME organizations.
MSME Credit Market – India
Market Size: USD 819 Mn
4%
31%
65%
Credit Gap: USD 530 Mn
Banks
Credit Gap
NBFC
FY 23* Disbursement
Small, 39.81%
Medium, 33.80%
Sources: SIDBI, IBEF,MSME, Avendus: MSME Lending Report
Investor Presentation
*As of Q2 of FY 23
Micro, 26.39%
31
Financial Overview
32
Historical Consolidated Income Statement
Particulars (INR Mn)
Operational Income
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Interest
Profit (Loss) from Joint Venture
PBT
Tax
Profit After tax
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic & Diluted EPS (INR)
Investor Presentation
FY21
9,013
7,060
1,953
21.67%
69
180
424
7
1,425
375
1,050
11.65%
27
1,077
9.28
FY22
11,169
8,218
2,951
26.42%
39
201
575
-
2,214
468
1,746
15.63%
16
1,762
15.43
FY23
12,116
9,417
2,699
22.28%
41
227
893
-
1,620
416
1,204
9.94%
50
1,254
11.25
H1-FY24
7,009
5,283
1,726
24.63%
30
160
677
0
919
219
700
9.99%
10
710
6.69
33
Historical Consolidated Balance Sheet
Particulars (INR Mn) ASSETS
Non-Financial Assets
Inventories
Current tax assets (net)
Deferred tax assets (net)
Assets held for sale
Property, plant and equipment
Capital work - in - progress
Right of use assets
Other intangible assets
Intangible assets under development
Other non-financial assets
Sub-Total Non-Financial Assets
Financial Assets Cash and cash equivalents (incl. Other Bank balance) Receivables
Loans
Investments
Other financial assets
Sub-Total Financial Assets TOTAL ASSETS
Investor Presentation
FY22
FY23
H1-FY24
345
365
223
40
790
-
330
18
12
276
2,399
12,819
3,460
7,798
1,706
1,243
27,026 29,425
52
290
304
42
895
89
355
29
11
217
2,284
14,599
3,904
10,882
570
831
30,786 33,070
49
349
312
52
882
166
478
27
10
199
2,524
16,927
5,042
11,895
457
6,711
41,032 43,556
Particulars (INR Mn)
EQUITY AND LIABILITIES
Equity
Share Capital
Other Equity
Non-controlling interest
Total Equity
Non-Financial Liabilities
Current tax liabilities (net)
Provisions
Other non-financial liabilities
Sub-Total Non-Financial Liabilities
Financial Liabilities
Trade Payables
Lease Liabilities
Debt Securities
Borrowings
Other Financial Liabilities
Sub-Total Financial Liabilities
Sub-Total Liabilities
TOTAL EQUITY AND LIABILITIES
FY22
FY23
H1-FY24
226
9,035
16
9,277
-
268
262
530
209
9,118
24
9,351
43
293
295
631
209
9,698
21
9,928
74
329
324
727
7,108
4,740
9,562
329
702
3,939
7,540
19,618
20,148
29,425
362
637
8,440
8,909
23,088
23,719
33,070
501
761
10,283
11,794
32,901
33,628
43,556
34
Historical Standalone Income Statement
Particulars (INR Mn)
Operational Income
Total Expenses
EBITDA
EBITDA Margins (%)
Other Income
Depreciation
Interest
PBT
Tax
Profit After tax
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic & Diluted EPS (INR)
Investor Presentation
FY21
5,013
3,760
1,253
FY22
6,699
4,503
2,196
FY23
6,792
4,972
1,820
25.00%
32.78%
26.80%
197
118
280
1,052
303
749
142
144
372
1,822
376
1,446
137
170
588
1,199
265
934
H1-FY24
3,872
2,770
1,102
28.46%
243
123
404
818
148
670
14.94%
21.59%
13.75%
17.30%
26
775
6.62
(2)
1,444
12.78
(3)
931
8.72
(1)
669
6.40
35
Historical Standalone Balance Sheet
Particulars (INR Mn) ASSETS
Non-Financial Assets
Inventories
Current tax assets (net)
Deferred tax assets (net)
Property, plant and equipment
Right of use assets
Capital work - in - progress
Other intangible assets
Intangible assets under development
Other non-financial assets
Sub-Total Non-financial Assets
Financial Assets
Cash and cash equivalent (incl. Other Bank balance)
Receivables
Loans
Investments
Other financial assets
Sub-Total Financial Assets
TOTAL ASSETS
Investor Presentation
FY22
FY23
H1-FY24
237
212
21
741
246
-
8
8
2
106
104
807
254
89
13
11
6
86
116
798
356
165
14
10
125
1,598
139
1,525
118
1,669
11,933
13,678
15,995
2,725
1,091
5,527
842
22,118
23,716
3,106
1,887
4,202
675
23,548
25,073
4,002
1,780
4,033
6,386
32,196
33,865
Particulars (INR Mn)
EQUITY AND LIABILITIES
Equity
Share Capital
Other Equity
Total Equity
Non-Financial Liabilities
Current tax liabilities (net)
Provisions
Other non-financial liabilities
Sub-Total Non-Financial Liabilities
Financial Liabilities
Trade Payables
Lease Liabilities
Debt Securities
Borrowings
Other Financial Liabilities
Sub-Total Financial Liabilities
Sub-Total Liabilities
TOTAL EQUITY AND LIABILITIES
FY22
FY23
H1-FY24
226
7,706
7,932
-
158
123
281
209
7,471
7,680
16
193
193
402
209
8,014
8,223
31
222
225
478
6,356
3,766
8,255
237
-
1,510
7,400
15,503
15,784
23,716
252
-
3,846
9,127
16,991
17,393
25,073
365
-
4,537
12,007
25,164
25,642
33,865
36
Historical Consolidated Financial Performance
Revenue (INR Mn)
11,169
12,116
9,013
7,009
EBITDA (INR Mn) & EBITDA Margin (%)
PAT (INR Mn) & PAT MARGIN (%)
2,951
2,699
1,953
21.67%
26.42%
22.28%
1,726
24.63%
3,200
2,900
2,600
2,300
2,000
1,700
1,400
1,100
800
500
200
1,746
15.63%
1,050
11.65%
1,204
9.94%
700
9.99%
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
H1-FY24
Net Worth (INR Mn)
9,261
9,327
9,907
7,727
ROE %
18.82%
ROCE % 19.74%
13.56%
12.88%
14.90%
13.61%
FY21
FY22
FY23
H1-FY24
FY21
FY22
FY23
FY21
FY22
FY23
Investor Presentation
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
37
Capital Market Highlights
1 Year Stock Performance (as on 30th September, 2023)
SMC
SENSEX
25%
20%
15%
10%
5%
0%
-5%
-10%
-15%
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Price Data (As on 30th September, 2023)
Shareholding Pattern (As on 30th September, 2023)
Face Value
Book Value per Share
CMP
52 Week H/L
Market Cap (INR Mn)
No. of Share outstanding (Mn)
Avg. Trading Volume ('000)
Avg. Net Turnover (INR Mn)
Investor Presentation
2.00
94.63
78.12
88.80/61.00
8,179.16
104.70
63.95
4.98
Promoters 67.37%
Public 31.57%
FII 1.06%
38
Disclaimer
SMC Global Securities Disclaimer:
No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of SMC Global Securities Limited, which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.
Investor Presentation
39
Thank You
40