Almondz Global Securities Ltd (ALMONDZ)

Financial Services · Stock/ Commodity Brokers · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹17.41 ↓ 11.17% (1Y)

🎯 Key Takeaways

Almondz Global Securities is undergoing a strategic restructuring to separate its infrastructure advisory business through a demerger into a new listed entity, Almondz Global Infra-Consultant Limited. This move aims to allow focused management on core broking operations while unlocking potential value in the standalone infrastructure segment.
Revenue declined 38.4% QoQ to ₹45 in Q1FY27.
⚠️ The success of the demerger hinges on regulatory approval from NCLT and shareholder consent, with no guarantee of timely clearance or favorable terms

Market Cap

₹333

P/E Ratio

9.0

P/B Ratio

1.38

ROE

14.2%

ROCE

14.5%

Debt/Equity

0.19

Promoter

50.8%

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📖 The Story

Almondz Global Securities is undergoing a strategic restructuring to separate its infrastructure advisory business through a demerger into a new listed entity, Almondz Global Infra-Consultant Limited. This move aims to allow focused management on core broking operations while unlocking potential value in the standalone infrastructure segment. The company has completed auditor report revisions and is progressing toward regulatory and shareholder approvals for the scheme, signaling a pivotal shift in its business architecture.

📰 What's Happening

The board approved the demerger of the infrastructure advisory business into a new listed entity on August 24, 2026, following a scheme that will separate this segment contributing 4.58% of turnover in FY2025-26. Shareholders will receive shares in the new entity at a ratio of 666 AGICL shares per 10,000 AGSL shares, with warrants also converted. The AGM is scheduled for September 30, 2026, to seek necessary approvals. Concurrently, promoter entity Innovative Money Matters Private Limited acquired 195,000 shares on August 27, 2026, before selling them on August 31, reducing its stake to 0.09%, indicating minor portfolio rebalancing rather than strategic accumulation.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	34	52	72	45
Operating Profit	3	9	1	8
OPM %	7.8%	16.5%	0.7%	16.9%
Net Profit	4	13	5	13
EPS	₹0.22	₹0.73	₹0.29	₹0.69

Financial performance shows volatility with revenue declining from ₹72 crore in March 2026 to ₹45 crore in June 2026, though operating margins remain stable around 16-17% in recent quarters. Profitability dipped in March 2026 with OPM at 0.7% and NP at ₹5 crore, but improved to ₹13 crore NP and 16.9% OPM in June 2026, suggesting operational stabilization. The company reported corrected auditor reports for March 2026 results, confirming unmodified opinions after documentation revisions, which enhances credibility in financial disclosures.

🔮 Management Outlook & What's Next

Management indicated that the demerger requires NCLT and shareholder approval and aims to enable focused management and independent growth for the infrastructure advisory segment. The scheme includes converting warrants and issuing shares to shareholders in the new entity, with plans to list the resulting company. No explicit forward guidance on revenue or margins was provided, but the separation is framed as a value-unlocking measure to improve strategic agility.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	17	17	17	17
Reserves	215	224	240	252
Borrowings	31	47	51	49
Total Liabilities	331	351	367	383
Fixed Assets	46	26	44	43
Investments	104	138	140	166
Total Assets	331	351	367	383

The balance sheet shows stable equity of ₹17 crore and reserves growing from ₹224 crore to ₹252 crore between March 2025 and March 2026, while borrowings remain low at ₹49 crore. Total assets increased to ₹383 crore, indicating asset base expansion. The capital structure remains conservative with minimal debt, supporting financial flexibility during the demerger transition and potential investment in the new entity.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	-9
Investing	-13
Financing	+33
Net Cash Flow	+10

👥 Shareholding Pattern

Category	Q3FY26	Q4FY26	Q1FY27
Promoters	51.2%	51.2%	50.8%
FII	0.1%	0.0%	0.0%
DII	0.0%	0.1%	0.4%
Public	40.5%	39.0%	39.2%
# Shareholders	15,452	15,484	15,271

Promoter holding declined slightly from 51.18% to 50.82% in Q1FY27, with a temporary increase to 51.18% followed by a sale reducing it to 0.09% post-August 31, 2026 trades. FII and DII holdings remain negligible at 0% and 0.37% respectively, while public shareholding rose to 39.17%. The promoter's minor trading activity suggests limited strategic interest, with no significant institutional accumulation observed.

⚖️ Peer Comparison — Stock/ Commodity Brokers

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
GROWW	1.19 L Cr	47.6	33.9%	25.3%	0.02
MOTILALOFS	61,028	30.8	11.9%	15.4%	1.65
360ONE	47,143	37.2	11.5%	13.7%	1.68
NUVAMA	32,551	15.4	21.9%	31.0%	2.25
ANGELONE	25,743	4.8	13.7%	16.9%	1.29
PRUDENT	13,852	56.5	37.9%	27.8%	0.00
IIFLCAPS	10,656	18.5	20.4%	18.7%	0.59
ARSSBL	3,198	20.1	16.4%	9.6%	0.62
MONARCH	2,970	16.4	30.8%	22.7%	0.01
GEOJITFSL	2,322	32.0	8.6%	5.9%	0.05

🔗 Peer Stock Analyses

GROWW MOTILALOFS 360ONE NUVAMA ANGELONE

⚠️ Risk Factors

The success of the demerger hinges on regulatory approval from NCLT and shareholder consent, with no guarantee of timely clearance or favorable terms for the new entity. Execution risks include potential disruption to operations during separation and market acceptance of the new listed company. The company's reliance on a single business segment for 4.58% of turnover means the demerger may not immediately impact core profitability, and low trading volumes could lead to price volatility post-restructuring.

📋 Recent Filings

🧠 Analyst's Read

Almondz Global Securities is at an inflection point with its demerger strategy aiming to sharpen focus and unlock value, but near-term execution risks and modest financial trends warrant caution. Investors should monitor regulatory progress and shareholder response to the scheme, as these will determine the pace of value realization in the infrastructure advisory business.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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