Smc Global Securities Limited has informed the Exchange about Investor Presentation
Date: 31-10-2025
Listing Operations BSE Limited, P J Towers, Dalal Street, Mumbai-400001, India
Scrip Code: 543263 Debentures Scrip Code: 939657,940327, 940317, 940325, 939647, 940321, 940319, 939655, 939639, 939643,939651 and 940323
Listing Department National Stock Exchange of India Limited, Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E ) Mumbai – 400051
Symbol: SMCGLOBAL
Subject: Earnings Presentation – Q2/H1 FY26
Dear Sir / Madam,
Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), attached herewith is the Earnings Presentation – Q2/H1 FY26 (Earning Presentation for the quarter and half year ended on 30th September, 2025) of SMC Global Securities Limited.
Kindly take the same on record.
This will also be hosted on the Company’s website at www.smcindiaonline.com
This is for your information and record.
Thanking you,
For SMC Global Securities Limited
Suman Kumar E.V.P. (Corporate Affairs) Company Secretary & General Counsel (Membership No. F5824)
SMC Global Securities Ltd
Earnings Presentation – Q2/H1 FY26
About Us Q2/H1 FY26 Performance Highlights
Consolidated Performance Highlights
Q2 FY26
H1 FY26
Revenue INR 440.3 Crores
EBITDA INR 84.4 Crores
PAT INR 21.0 Crores
Revenue INR 865.2 Crores
EBITDA INR 184.5 Crores
PAT INR 50.9 Crores
•
•
•
The quarter’s performance reflected industry-wide moderation in trading activity due to regulatory changes in the F&O segment, revised expiry cycles, and subdued investor sentiment, leading to lower broking and distribution revenues. Profitability was further impacted by a cautious approach in the lending business amid a tightening regulatory environment, resulting in temporary margin pressures. The insurance broking vertical, however, maintained strong momentum with healthy revenue growth, supported by rising financial awareness, deeper digital penetration, and an expanding POS network, reinforcing the resilience of our diversified business model.
Q2/H1 FY26 Earnings Presentation
3
Q2 FY26 Consolidated Segmental Performance
(INR Crs)
BROKING, DISTRIBUTION & TRADING
INSURANCE BROKING
FINANCING (NBFC)
e u n e v e R
T I B E
-12.8%
276.2
240.9
21.1%
162.5
134.2
-7.9%
50.4
46.4
Q2FY25
Q2FY26
Q2FY25
Q2FY26
Q2FY25
Q2FY26
-38.1%
78.8
7.7%
4.2
48.8
3.9
-14.0%
30.6
26.3
Q2FY25
Q2FY26
Q2FY25
Q2FY26
Q2FY25
Q2FY26
Q2/H1 FY26 Earnings Presentation
4
H1 FY26 Consolidated Segmental Performance
(INR Crs)
BROKING, DISTRIBUTION & TRADING
INSURANCE BROKING
FINANCING (NBFC)
-7.8%
6.3%
-12.0%
559.7
515.9
261.7
278.3
110.6
97.3
H1FY25
H1FY26
H1FY25
H1FY26
H1FY25
H1FY26
-26.3%
152.0
-9.6%
7.3
112.0
6.6
-25.8%
74.0
54.9
e u n e v e R
T I B E
H1FY25
H1FY26
H1FY25
H1FY26
H1FY25
H1FY26
Q2/H1 FY26 Earnings Presentation
5
Business Vertical - Broking, Distribution & Trading
Key Highlights:
Segment Revenue* (INR Crs)
Broking DP AUA (INR Crs)
• Our expansive network includes 2,152 authorized persons, spanning 412 cities and 6,573 financial distributors across India.
767.8
961.4
1,044.5
1,42,214
1,15,048
515.9
78,635
52,700
• SMC has a strategic alliance with 7 PSU and Private Banks offering Online Trading services to their customers vis PNB, IOB, UBI, Ujjivan bank etc.
• SMC has 3-in-1 tie-up (Bank & Demat Account facility provided by the bank to its customer and Trading account facility will be provided by the SMC).
Strategic Priorities:
• Deepening partnerships with PSU and private
banks.
• Expanding digital reach through upgraded trading
platforms.
•
Increasing customer engagement via research- driven advisory tools.
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
*includes other income
Broking Clients* (in Thousands)
Online Penetration
1,057
930
1,169
1,250
41%
59%
39%
39%
61%
61%
33%
67%
FY23
FY24
FY25
H1FY26
*Including StoxKart
FY23
FY24
Online
FY25 Offline
H1FY26
Q2/H1 FY26 Earnings Presentation
6
Insurance Broking
Key Highlights:
• SMC Insurance operates through 8 branches
nationwide.
• The company has a workforce of 500
employees.
• Utilizes a network of 16,245 Point of Sales
(POSs).
Insurance Gross Premium (INR Crs)
Segment Revenue* (INR Crs.)
2,717
2,884
2,892
1,364
348
528
570
278
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
*Revenue recognition changed from net to gross basis from FY18.
• Engages 370 Motor
Insurance
Service
H1FY26 Revenue Pie (%)
No. of Policies (In Thousands)
958
996
1,020
493
Providers (MISPs).
• Comprehensive national coverage with a robust presence in Tier-1 and Tier-2 cities, leveraging SMC Group's extensive customer network.
the
• Our online portal, www.smcinsurance.com, is developed to cater to both B2B and B2C networks, advanced Artificial Intelligence capabilities.
featuring
9%
91%
General Insurance
Life Insurance
FY23
FY24
FY25
H1FY26
Q2/H1 FY26 Earnings Presentation
7
Financing (NBFC) - Middle Layer
•
In the year 2008, SMC started providing financing services through its wholly owned subsidiary, Moneywise Financial Services Pvt. Ltd. (SMC Finance).
132.0
• MWFS offers wide spectrum of financial products like SME Micro LAP, SME Equipment Finance (Medical & Industrial Equipment), SME WCTL (Unsecured Business Loans), Gold Loans, Onward-lending (lending to NBFC) and loan against securities.
• The company has 38 branches covering 7 States.
Segment Revenue (INR Crs)
205.7
222.6
97.3
Particulars
Micro- LAP
SME Assets
SME WCTL
Gold Loan
Onward Lending
Supply Chain Financing
SME LAP
CMF
Grand total
Aum (On+Off) (Amount Rs In Crore)
Tenure Range (Months)
Rate Of Interest (Range)
Ticket Size
No. Of Loan Accounts*
56.35
136.46
376.55
52.40
170.26
0.00
262.70
33.46
1,088.18
60 -144
24 – 84
24 - 36
12
9 – 36
12 – 36
60 - 180
12 - 36
16% - 22% 14% - 16%
14.50% - 20%
12% - 26% 13% - 17% 14% - 16% 14% - 16% 14% - 16%
3 lacs to 100 lacs
10 lacs to 15 crores
10 lacs to 75 lacs
5 k to 5 lacs
50 lacs to 10 crores
25 lacs to 5 crores
10 lacs to 5 crores
1 lacs to 5 crore
477
76
2210
4,414
73
1
128
30
7,409
% Of Portfolio
5.18%
12.54%
34.60%
4.82%
15.65%
0.00%
24.14%
3.07%
100.00%
FY23
FY24
FY25
H1FY26
H1FY26 Lending Portfolio
3.07%
5.18%
24.14%
12.54%
0.00%
15.65%
Micro-LAP
Gold Loan
SME LAP
4.82%
SME Assets
34.60%
SME WCTL
Onward Lending
Supply Chain Financing
CMF
Q2/H1 FY26 Earnings Presentation
8
About Us Q2/H1 FY26 Financial Performance
Consolidated Income Statement
Particulars (INR Crs)
Q2 FY26
Q1 FY26
Operational Income
Total Expenses
EBITDA
440.3
355.9
84.4
424.9
324.8
100.1
Q-o-Q
3.6%
-15.7%
Q2 FY25
450.8
331.9
118.9
Y-o-Y
-2.3%
-29.0%
H1 FY26
H1 FY25
865.2
680.7
184.5
898.8
654.4
244.4
Y-o-Y
-3.7%
-24.5%
EBITDA Margins (%)
19.2%
23.6%
-440 bps
26.4%
-720 bps
21.3%
27.2%
-590 bps
Other Income
Depreciation
Interest
Share of (loss) in joint venture*
PBT
Tax
Profit After tax
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Basic & Diluted EPS (INR)
1.9
7.1
51.4
0.0
27.8
6.8
21.0
4.8%
3.1
24.1
1.97
0.7
6.6
55.8
0.0
38.4
8.4
30.0
-27.6%
-30.0%
1.2
6.9
52.2
0.0
61.0
15.4
45.6
2.7
13.7
107.3
0.0
66.2
15.2
50.9
3.7
14.7
103.3
0.0
130.1
31.2
98.9
-49.1%
-48.5%
-54.4%
-53.9%
7.1%
-230 bps
10.1%
-530 bps
5.9%
11.0%
-510 bps
-0.3
29.7
2.84
-18.9%
0.3
45.9
4.33
-47.5%
2.9
53.8
4.81
0.2
99.1
9.39
-45.7%
Q2/H1 FY26 Earnings Presentation
10
Standalone Income Statement
Particulars (INR Crs)
Q2 FY26
Q1 FY26
Q-o-Q
Q2 FY25
Y-o-Y
H1 FY26
H1 FY25
Operational Income
Total Expenses
EBITDA
216.5
169.0
47.5
246.1
184.0
62.1
-12.0%
-23.5%
255.0
170.3
84.7
-15.1%
-43.9%
462.7
353.0
109.7
502.4
337.0
165.4
Y-o-Y
-7.9%
-33.7%
EBITDA Margins (%)
21.9%
25.2%
-330 bps
33.2%
-1130 bps
23.7%
32.9%
-920 bps
Other Income
Depreciation
Interest
PBT
Tax
Profit After tax
1.3
5.5
34.9
8.4
2.1
6.3
9.2
5.2
38.3
27.8
4.9
22.9
-69.8%
-72.4%
1.6
5.3
34.5
46.5
11.5
35.0
-82.0%
-82.0%
10.4
10.7
73.2
36.2
7.0
29.2
16.4
11.1
67.2
103.5
-65.0%
22.3
81.2
-64.1%
PAT Margins (%)
2.9%
9.3%
-640 bps
13.7%
-1080 bps
6.3%
16.2%
-990 bps
Other Comprehensive Income
Total Comprehensive Income
Basic & Diluted EPS (INR)
-0.3
6.0
0.61
-0.4
22.5
2.18
-73.5%
0.0
35.0
3.34
-83.0%
-0.7
28.5
2.79
0.0
81.2
7.74
-64.9%
Q2/H1 FY26 Earnings Presentation
11
Historical Consolidated Balance Sheet
Particulars (INR Crs) Assets Non-Financial Assets Inventories Current tax assets (net) Deferred tax assets (net)
Investment property under development
Property, plant and equipment Capital work - in - progress Right of use assets Investment Property Other intangible assets Intangible assets under development Other non-financial assets Assets held for sale Sub-Total Non-Financial Assets Financial Assets Cash and cash equivalents Other Bank balance Derivative financial instruments Securities for trade Receivables Loans Investments Other financial assets Sub-Total Financial Assets Total Assets
Sept-25
Mar-25
Particulars (INR Crs)
Sept-25
Mar-25
8.3 14.0 37.2
7.3
80.2 54.2 37.4 0.0 2.2 0.5 34.2 0.0 275.5
114.4 2,189.7 75.1 78.7 884.5 1,449.0 82.0 92.9 4,966.3 5,241.8
2.8 9.7 33.9
7.4
80.0 44.3 36.9 0.0 2.6 0.4 29.8 0.0 247.8
150.7 1,824.8 40.0 71.5 680.0 1,479.5 27.1 399.1 4,672.7 4,920.5
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
Derivative Financial Instruments
Trade Payables
Lease Liabilities
Debt Securities
Borrowings
Other Financial Liabilities
Sub-Total Financial Liabilities
Sub-Total Liabilities
Total Equity and Liabilities
20.9
1,236.9
2.2
20.9
1,196.2
2.6
1,260.0
1,219.7
8.2
50.2
21.3
79.7
46.4
761.1
37.9
259.6
1,699.2
1,097.9
3,902.1
3,981.8
5,241.8
3.3
45.0
39.2
87.5
25.3
900.8
37.6
154.4
1,502.7
992.5
3,613.3
3,700.8
4,920.5
Q2/H1 FY26 Earnings Presentation
12
Historical Standalone Balance Sheet
Particulars (INR Crs)
Assets
Non-Financial Assets
Inventories Current tax assets (net) Deferred tax assets (net) Property, plant and equipment Right of use assets Investment Property ROU Asset 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 Other Bank balance Derivative financial instruments Securities for trade Receivables Loans Investments Other financial assets Sub-Total Financial Assets Total Assets
Sept-25
Mar-25
Particulars (INR Crs )
Sept-25
Mar-25
0.0 7.3 20.0 74.4 20.2 6.0 54.2 1.7
0.5
17.2 201.5
7.0 2,119.0 75.1 65.4 730.9 431.8 416.8 64.3 3,910.3 4,111.8
0.0 4.2 14.6 74.0 18.8 6.4 44.3 2.1
0.4
10.5 175.3
15.3 1,750.2 40.0 44.8 555.5 283.0 386.2 352.4 3,427.4 3,602.7
Equity and Liabilities
Equity
Share Capital
Other Equity
Total Equity
Non-Financial Liabilities
Provisions
Other non-financial liabilities
Current tax liabilities (net)
Sub-Total Non-Financial Liabilities
Financial Liabilities
Derivative financial instruments
Trade Payables
Lease Liabilities
Debt Securities
Borrowings
Other Financial Liabilities
Sub-Total Financial Liabilities
Sub-Total Liabilities
Total Equity and Liabilities
20.9
957.6
978.5
36.7
13.3
7.6
57.6
46.4
613.8
25.5
224.2
1,054.5
1,111.3
3,075.7
3,133.3
4,111.8
20.9
941.6
962.5
32.1
12.9
0.0
45.0
25.4
735.3
24.6
103.1
742.5
964.3
2,595.2
2,640.2
3,602.7
Q2/H1 FY26 Earnings Presentation
13
H1 FY26 Assets Under Management
Broking DP AUA (INR Crs)
Mutual Funds AUM (INR Crs)
1,42,214
1,15,048
78,635
52,700
4,178
4,459
3,801
2,992
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
Wealth AUM/AUA (INR Crs)
NBFC AUM (INR Crs)
908
948
1,091
610
1,237
1,291
1,088
900
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
Q2/H1 FY26 Earnings Presentation
14
Key Business Trends – Broking & Insurance
Broking Clients* (in Thousands)
Average Daily Turnover In Broking (In Cr)
StoxKart Clients (in Thousands)
1,057
930
1,169
1,250
2,91,063
2,82,580
2,02,081
2,27,060
194
310
240
263
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
*including StoxKart
Insurance Policies Issued (In Thousands)
958
996
1,020
Insurance
Point Of Sales (POS)
16,022
16,245
15,308
Insurance Gross Premium (INR Crs)
2,717
2,884
2,892
493
13,672
1,364
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
Q2/H1 FY26 Earnings Presentation
15
Q2/H1 FY26 Financing (NBFC) Business in numbers
AUM* INR 1,088.18 Crs
Total Income INR 97.27 Crs
Net Worth INR 485 Crs
NNPA % 2.49%
ROA % 2.33%
OPEX to AUM 5.34%
Cumulative Loans Disbursed INR 40 Bn+
Total Borrowings/ Leverage Ratio INR 757.87 Crs / 1.56x
Cost of Borrowing %*** 10.66%
Credit Cost-ANR / PCR** 1.05% / 31.34%
Secured AUM % 65.32%
Collection Efficiency**** 98.47%
97 Channel Partners 38 Branches
Employees 498
Number of lenders 30
* AUM denotes On + Off Books ** ANR-Average Net Receivables, PCR-Provision Coverage Ratio *** Including all charges; on outstanding balance as on Sept 30th 2025 **** Includes recovery from standard overdue cases and based on the average for H1 FY26
Q2/H1 FY26 Earnings Presentation
16
Q2/H1 FY26 Key Business Trends - NBFC
AUM (In Crs)
Disbursements (INR Crs)
25
25 87
376
210
511
12
18
61
204
180
424
17
46
40 121
336
242
487
774.0
906.6
809.7
56
52
33 136
263
170
377
NII (INR Crs) & NIM (%)
88.2
82.9
8.63%
40.9
78.4
9.85%
260.8
11.4%
11.8%
7.05%
11.8%
7.27%
12.4%
FY23 SME WCTL SME Assets Gold Loan
FY24
FY25
H1FY26
Onward Lending CMF Supply Chain Financing Micro - LAP
SME LAP Consumable Durables
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
GNPA % & NNPA %
CRAR %
2.3%
2.2%
3.6%
2.5%
3.6%
2.2%
1.4%
FY23
1.1%
FY24 GNPA%
FY25
H1FY26
NNPA %
40.1%
35.4%
37.0%
45.2%
PAT (INR Crs) 56.0
46.3
36.1
13.8
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
Q2/H1 FY26 Earnings Presentation
17
About Us
About SMC Group
SMC at a Glance
5 Year PAT CAGR* 43.8%
5 Year Revenue CAGR* 17.9%
NBFC AUM INR 1,088 Crs
Debt/Equity 1.56x
Consolidated Net worth
INR 1,257.87 Crs
Branches Across India 203 Including 1 in Dubai
Cities Covered 412
Employees 4,117
Authorised Persons 2,152
Network of Financial Distributors 6,573
Client Demat A/Cs 12,33,456
Clearing & Settlement trading members 330
Cumulative AUM/AUA under Mutual Funds INR 4,459 Crs
Running SIPs 80,238
Insurance Policies sold in H1 FY26 4,93,118
Ratings: Short Term- ICRA A1+ Long Term- ICRA A (STABLE) CRISIL A (STABLE)
Insurance Premium in H1 FY26 INR 1,364 Crs
SMC Group
*Calculated as of year ended March 2025
Q2/H1 FY26 Earnings Presentation
Evolution from Traditional Broking to well diversified Financial Service Company
•
•
•
•
•
Founded in 1994 by Mr. Subhash C. Aggarwal and Mr. Mahesh C. Gupta, traditional initially broking services.
focusing
on
Strategic Shift: Transformed from traditional broking to a diversified financial services powerhouse.
Technological Integration: Launched various innovative digital technology- enabled capabilities and best-in-class products and services
Performance Metrics: Consistent growth; diversified income streams.
Future Outlook: Global aspirations; income; emphasis on continued adaptation and innovation.
fee-based
Brokerage Services
Investment Banking
Wealth Management
Discount Broking (StoxKart)
Financing (NBFC)
Expanded Service Offerings
Insurance Broking
Clearing & Depository Services
Portfolio Management Service
Distribution Of Financial Products
Gift City IFSC
Arbitrage & HFT Prop. Trading
“SMC Group has solidified its technology foundation, ensuring strength”
Q2/H1 FY26 Earnings Presentation
20
Organizational Structure
Discount Brokerage
Moneywise Finvest Limited (StoxKart) - 100%
SMC Insurance Brokers Private Limited - 90%
Insurance Broking Services
Moneywise Financial Services Private Limited - 100%
SMC Global Securities Ltd Broking | Distribution | PMS | Arbitrage & Prop Trading | Wealth Management
SMC Comex International DMCC (UAE) - 100%
SMC Investments & Advisors Limited - 100%
Commodity Trading
Advisory
Financing (NBFC) Business
SMC Investech Private Limited - 100% (Formerly known as SMC Real Estate Advisors Private Limited)
SMC Capitals Limited - 100%
Unlisted Share Trading
Category-1 Merchant Banker
Stock-Broker & Clearing Member at GIFT City
SMC Global IFSC Private Limited - 100%
Pulin Comtrade Limited - 100%
Commodity Business
Q2/H1 FY26 Earnings Presentation
21
Business Structure
Equity, Commodity, Currency & Full-Service Broking
Investment Banking
Discount Broking
Clearing Services
MTF
Fixed Income
SME – Loan Against Property (LAP)
SME – Working Capital Term Loan (WCTL)
SME-Asset Finance
Supply Chain Financing
Micro LAP
Proprietary Trading
Wealth Management
Portfolio Management
Institutional Broking
Mortgage Advisory
Research Services
Unlisted Shares Trading
Financial Products Distribution
Insurance Broking
Life Insurance
General Insurance
Capital Market Funding (CMF)
Gold Loan
H1 FY26 Revenue Pie (%)
11%
31%
58%
Q2/H1 FY26 Earnings Presentation
22
Expert Leadership
Experienced Management Team with Focused Business Heads
Mr. Subhash C. Aggarwal Chairman & Managing Director, SMC Group
Mr. Mahesh C. Gupta Vice Chairman and Managing Director, SMC Group
Mr. Ajay Garg
Dr. D. K. Aggarwal
Mr. Himanshu Gupta
Mr. Pranay Agarwal
Mrs. Shruti Aggarwal
Director & CEO – SMC Global Securities Ltd. MD- SMC Global IFSC Pvt. Ltd. Director - SMC Insurance Brokers Pvt. Ltd.
CMD-SMC Investments and Advisors Ltd. CMD-SMC Capitals Ltd. Chairman & Director- SMC Investech Private Ltd*. Chairman & Director-Pulin Comtrade Ltd.
Director & CEO- Moneywise Financial Services Private Ltd. Director-SMC Global Securities Ltd., Director- Pulin Comtrade Ltd.
Director & CEO - Moneywise Finvest Ltd. (StoxKart) Director - Moneywise Financial Services Pvt. Ltd. Non-Executive Director – SMC Global Securities Ltd
Whole Time Director- SMC Global Securities Limited, Whole Time Director- SMC Global IFSC Private Limited
Mr. Anurag Bansal
Mr. Ayush Agarwal Mrs. Akanksha Gupta Mrs. Anshika Aggarwal
Mrs. Shweta Aggarwal
Whole Time Director- SMC Global Securities Ltd., Whole Time Director-SMC Capitals Ltd..
CIO - SMC Private wealth Director - SMC Investech Private Ltd.* Director - Moneywise Finvest Ltd.
Whole Time Director - SMC Insurance Brokers Pvt. Ltd., Director- SMC Global IFSC Pvt. Ltd., Director- Pulin Comtrade Limited
Director- SMC Investment and Advisors Ltd., Whole Time Director- SMC Investech Pvt. Ltd.*
Non-Executive Director – SMC Capitals Ltd.
*SMC Investech Private Limited was formerly known as SMC Real Estate Advisors Private Limited
Q2/H1 FY26 Earnings Presentation
23
Experienced Management Team with Focused Business Heads
Mrs. Aditi Aggarwal Director - Moneywise Finvest Limited
Mrs. Reema Garg Group CHRO. Director – Moneywise Finvest Ltd. Non-Executive Director – SMC Investments & Advisors Ltd.
Mr. Pravin K. Agarwal Whole-Time Director- SMC Insurance Brokers Pvt. Ltd.
Mr. Vinod Kumar Jamar President & Group Chief Financial Officer
Mr. Abhishek Chawla Group Chief Product & Technology Officer
Mr. Suman Kumar E.V.P (Corporate Affairs & Legal), CS & General Counsel
Mrs. Nidhi Bansal Regional Director - West
Q2/H1 FY26 Earnings Presentation
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Key Strengths
Comprehensive Financial Offerings with High Margin Business:
SMC offers a diverse range of high-margin financial products under one roof
Strong Broking & Distribution Network:
Over 2,152 Authorized persons, spanning 412 cities and 6,573 financial distributors across India
Fintech Focused Approach
Leveraging advanced digital technology, SMC offers cutting-edge products and services
Enhance distribution by cross-selling financial products and services:
Synergies and cross-selling opportunities generated between entities within SMC group companies.
Established National Brand:
Well established and deeply penetrated national brand with strong reputation and good recall
Extensive Corporate Relationships:
Partnerships with trading members, corporate clients across different segments, and authorized persons and financial distributors.
Strategic Alliances with various Banks and 3-in-1 tie- ups, where customers can benefit from seamless integration of bank, demat, and trading account facilities.
SMC is a clearing member in all major exchanges
Experienced Leadership
Top Management of SMC has Over 30 Years of experience in industry
Q2/H1 FY26 Earnings Presentation
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About Us
Historical Financial Overview
Historical Consolidated Income Statement
Particulars (INR Crs)
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)
FY23
1,211.6
941.7
269.9
22.3%
4.1
22.7
89.3
0.0
162.0
41.6
120.4
9.9%
5.0
125.4
11.25
FY24
1,638.4
1,212.5
425.9
26.0%
6.2
32.1
155.5
0.0
244.5
56.2
188.3
11.5%
0.8
189.1
17.89
FY25
1,775.7
1,356.3
419.4
23.6%
10.0
30.4
207.0
0.0
192.0
45.2
146.8
8.3%
0.9
147.7
13.92
H1 FY26
865.2
680.7
184.5
21.3%
2.7
13.7
107.3
0.0
66.2
15.2
50.9
5.9%
2.9
53.8
4.81
Q2/H1 FY26 Earnings Presentation
27
Historical Standalone Income Statement
Particulars (INR Crs)
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)
FY23
679.2
497.0
182.2
26.8%
13.7
17.0
58.8
120.1
26.5
93.6
13.8%
-0.3
93.3
8.72
FY24
853.2
583.7
269.5
31.6%
30.3
24.1
95.7
180.0
38.9
141.1
16.5%
-0.1
141.0
13.47
FY25
924.3
667.3
257.0
27.8%
31.1
22.9
134.0
131.2
25.9
105.3
11.4%
-1.4
103.9
10.05
H1 FY26
462.7
353.0
109.7
23.7%
10.4
10.7
73.2
36.2
7.0
29.2
6.3%
-0.7
28.5
2.79
Q2/H1 FY26 Earnings Presentation
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Historical Consolidated Balance Sheet
Particulars (INR Crs) Assets Non-Financial Assets Inventories Current tax assets (net) Deferred tax assets (net) Investment property under development Property, plant and equipment Capital work - in - progress Right of use assets Investment Property Other intangible assets Intangible assets under development Other non-financial assets Assets held for sale Sub-Total Non-Financial Assets Financial Assets Cash and cash equivalents Other Bank balance Derivative financial instruments Securities for trade Receivables Loans Investments Other financial assets Sub-Total Financial Assets Total Assets
Mar-23
Mar-24
Mar-25
Sept-25
Particulars (INR Crs)
Mar-23
Mar-24
Mar-25
Sept-25
5.2 29.0 30.4
1.8
89.5 8.9 35.5 2.9 1.1 - 21.7 2.4 228.4
32.4 1,427.5 55.4 26.0 390.4 1,088.2 31.0 27.7 3,078.6 3,307.0
6.5 16.1 32.2
4.5
84.5 26.8 44.0 - 2.4 0.6 24.3 2.4 244.3
126.9 2,231.4 27.5 25.4 531.7 1,372.0 44.8 143.8 4,503.5 4,747.8
2.8 9.7 33.9
7.4
80.0 44.3 36.9 0.0 2.6 0.4 29.8 0.0 247.8
150.7 1,824.8 40.0 71.5 680.0 1,479.5 27.1 399.1 4,672.7 4,920.5
8.3 14.0 37.2
7.3
80.2 54.2 37.4 0.0 2.2 0.5 34.2 0.0 275.5
114.4 2,189.7 75.1 78.7 884.5 1,449.0 82.0 92.9 4,966.3 5,241.8
Equity and Liabilities
Equity
Share Capital
Other Equity
Non-controlling interest
20.9
911.8
2.4
20.9
20.9
20.9
1,074.8
1,196.2
1,236.9
2.2
2.6
2.2
Total Equity
935.1
1,097.9
1,219.7
1,260.0
Non-Financial Liabilities
Current tax liabilities (net)
Provisions
Other non-financial liabilities Sub-Total Non-Financial Liabilities Financial Liabilities
Derivative Financial Instruments
Trade Payables
Lease Liabilities
Debt Securities
Borrowings
Other Financial Liabilities
4.3
29.4
29.5
63.2
55.9
474.0
36.2
63.7
844.0
835.0
7.1
35.8
37.6
80.5
28.1
829.4
46.0
39.7
3.3
45.0
39.2
87.5
25.3
900.8
37.6
154.4
8.2
50.2
21.3
79.7
46.4
761.1
37.9
259.6
1,381.1
1,502.7
1,699.2
1,245.1
992.5
1,097.9
Sub-Total Financial Liabilities
2,308.8
3,569.4
3,613.3
3,902.1
Sub-Total Liabilities
2,372.0
3,649.9
3,700.8
3,981.8
Total Equity and Liabilities
3,307.1
4,747.8
4,920.5
5,241.8
Q2/H1 FY26 Earnings Presentation
29
Historical Standalone Balance Sheet
Particulars (INR Crs)
Mar-23
Mar-24
Mar-25
Sept-25
Assets
Non-Financial Assets
Inventories Current tax assets (net) Deferred tax assets (net) Property, plant and equipment Right of use assets Investment Property ROU Asset 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 Other Bank balance Derivative financial instruments Securities for trade Receivables Loans Investments Other financial assets Sub-Total Financial Assets Total Assets
0.2 10.6 10.4 80.7 17.7 7.6 8.9 1.1
1.3
- 2.0 11.8 76.8 19.9 7.0 26.8 1.6
0.6
- 4.2 14.6 74.0 18.8 6.4 44.3 2.1
0.4
- 7.3 20.0 74.4 20.2 6.0 54.2 1.7
0.5
14.1 152.6
8.4 154.9
10.5 175.3
17.2 201.5
20.4 1,347.2 55.4 25.4 310.6 188.7 394.8 12.1 2,354.6 2,507.2
52.9 2,171.9 27.5 25.4 450.2 236.0 376.5 117.8 3,458.2 3,613.1
15.3 1,750.2 40.0 44.8 555.5 283.0 386.2 352.4 3,427.4 3,602.7
7.0 2,119.0 75.1 65.4 730.9 431.8 416.8 64.3 3,910.3 4,111.8
Particulars (INR Crs )
Equity and Liabilities
Equity
Share Capital
Other Equity
Total Equity
Non-Financial Liabilities
Provisions
Other non-financial liabilities
Current tax liabilities (net)
Sub-Total Non-Financial Liabilities
Financial Liabilities
Derivative financial instruments
Trade Payables
Lease Liabilities
Debt Securities
Borrowings
Mar-23 Mar-24 Mar-25
Sept-25
20.9
20.9
20.9
20.9
747.1
768.0
862.9
883.8
941.6
962.5
957.6
978.5
19.3
19.3
1.6
40.2
55.9
376.6
384.6
-
24.0
20.1
2.3
46.4
32.1
12.9
0.0
45.0
36.7
13.3
7.6
57.6
28.1
25.4
46.4
716.9
735.3
613.8
27.7
24.6
25.5
-
103.1
224.2
25.2
642.5
742.5
1,054.5
Other Financial Liabilities
856.7
1,267.7
964.3
1,111.3
Sub-Total Financial Liabilities
1,699.0
2,682.9
2,595.2
3,075.7
Sub-Total Liabilities
1,739.2
2,729.3
2,640.2
3,133.3
Total Equity and Liabilities
2,507.2
3,613.1
3,602.7
4,111.8
Q2/H1 FY26 Earnings Presentation
30
Historical Consolidated Financial Performance
Revenue (INR Crs)
1,638.4
1,775.7
1,211.6
865.2
EBITDA (INR Crs) & EBITDA Margin (%)
PAT (INR Crs) & PAT MARGIN (%)
425.9
419.4
269.9
22.3%
26.0%
23.6%
184.5
21.3%
188.3
11.5%
15.6%
120.4
9.9%
11.7%
146.8
8.3% 9.9%
50.9 11.9% 5.9%
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
H1FY26
Net Worth (INR Crs)
1,217.2
1,257.9
1,095.7
932.7
a ROE %
18.6%
ROCE %
18.5%
13.0%
12.7%
15.6%
14.8%
FY23
FY24
FY25
H1FY26
FY23
FY24
FY25
FY23
FY24
FY25
Q2/H1 FY26 Earnings Presentation
31
Disclaimer
SMC Global Securities Limited 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 from the actual 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 in India. 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.
Q2/H1 FY26 Earnings Presentation
32
Thank You
About Us
Company Details:
Investor Relations Partner:
SMC Global Securities Ltd.
X-B4 Advisory LLP
Vinod Kumar Jamar Chief Financial Officer vinodjamar@smcindiaonline.com www.smcindiaonline.com
Rasika Sawant: +91 95944 57518 rasika@x-b4.com Gautam Kothari: +91 79776 16640 gautam@x-b4.com www.x-b4.com