Share India Securities Limited (SHAREINDIA)
🎯 Key Takeaways
- Share India Securities Limited is navigating a strategic transition marked by capital structure optimization and leadership changes in compliance oversight. The company has shifted focus toward debt market financing via NCD issuance while reinforcing internal controls, signaling a maturing phase with measured growth and risk management priorities.
- Revenue declined 24.4% QoQ to ₹342 in Q3FY25.
- ⚠️ 1) Revenue volatility in core brokerage operations may persist due to market cyclicity, affecting profitability. 2) Margin compression observed in rec
📖 The Story
Share India Securities Limited is navigating a strategic transition marked by capital structure optimization and leadership changes in compliance oversight. The company has shifted focus toward debt market financing via NCD issuance while reinforcing internal controls, signaling a maturing phase with measured growth and risk management priorities.
📰 What's Happening
In July 2026, the board approved the issuance of up to INR 150 crores in secured NCDs featuring a 10.50% coupon, 25-month tenure, and 25% half-yearly principal repayments, with a 1.35x asset cover and 2% penalty coupon for delays. The instruments are set to be listed on the BSE Wholesale Debt Market segment. Earlier, in June 2026, Sarthak Bhalla was appointed as Compliance Officer and Senior Management Personnel to strengthen regulatory frameworks, following the resignation of Ms. Kesha Ankit Choksi, who stepped down due to external professional commitments. These moves reflect a deliberate focus on capital access and compliance governance.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 341 | 277 | 366 | 374 | 465 | 414 | 453 | 342 |
| Operating Profit | 157 | 126 | 178 | 183 | 175 | 154 | 190 | 139 |
| OPM % | 45.3% | 44.9% | 48.0% | 48.8% | 37.3% | 35.5% | 41.2% | 38.4% |
| Net Profit | 107 | 82 | 113 | 115 | 116 | 103 | 124 | 82 |
| EPS | ₹33.09 | ₹25.17 | ₹34.50 | ₹35.16 | ₹32.19 | ₹5.18 | ₹6.03 | ₹3.66 |
The company's quarterly revenue has shown volatility, peaking at ₹465 crores in Q4FY24 before declining to ₹342 crores in Q3FY25, indicating possible cyclicality or project-based demand in its core brokerage and financial services operations. Operating profit margins have also moderated from a high of 48.8% in Q3FY24 to 38.4% in Q3FY25, suggesting margin pressure amid rising costs or competitive pricing. Net profit and EPS trends mirror this pattern, with a sharp drop from ₹124 crores in Q2FY25 to ₹82 crores in Q3FY25, reflecting both revenue softness and potential expense headwinds not fully offset by operational efficiencies.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance on revenue or profitability in the reviewed filings. However, the NCD issuance and emphasis on asset cover indicate a structured approach to funding and risk mitigation. The appointment of a new Compliance Officer underscores a focus on regulatory resilience, which may support long-term stability but does not directly signal near-term growth expectations.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Capital Markets
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| SBI-ETF Nifty 50 | 2.06 L Cr | — | — | — | — |
| BSE Limited | 1.63 L Cr | 174.4 | — | — | — |
| ICICI Prudential Asset Management Company Limited | 1.58 L Cr | — | — | — | — |
| Billionbrains Garage Ventures Limited | 1.18 L Cr | — | — | — | — |
| HDFC Asset Management Company Limited | 1.16 L Cr | 49.0 | — | — | — |
| Multi Commodity Exchange of India Limited | 86,468 | — | — | — | — |
| Nippon Life India Asset Management Limited | 70,250 | 52.2 | — | — | — |
| UTI Nifty 50 ETF | 68,813 | — | — | — | — |
| Nippon India ETF Nifty 50 BeES | 62,392 | — | — | — | — |
| NIPPON INDIA ETF GOLD BEES | 58,044 | — | — | — | — |
⚠️ Risk Factors
1) Revenue volatility in core brokerage operations may persist due to market cyclicity, affecting profitability. 2) Margin compression observed in recent quarters could continue if cost pressures or competitive dynamics are not managed. 3) The new NCD debt obligations introduce refinancing and liquidity risks, especially if operating cash flows remain inconsistent. 4) Leadership changes in compliance roles, while routine, may temporarily disrupt internal controls if integration is not seamless.
📋 Recent Filings
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🟡 Board Meeting 20 July 2026Share India Securities approved up to 150,000 secured NCDs worth INR 150 crores on July 20, 2026, offering 10.50% annual interest with monthly payment...
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🟡 Board Meeting 22 June 2026Share India Securities announced the appointment of Sarthak Bhalla as Compliance Officer and Senior Management Personnel effective June 22, 2026, foll...
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regulation 31 22 June 2026Share India Securities Limited disclosed on April 7, 2026, that its promoters and promoter group have not encumbered any shares during the financial y...
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🟡 Board Meeting 16 June 2026No summary available
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🔴 Insider Trading 16 June 2026Share India Securities announced the resignation of Compliance Officer and Senior Management Personnel Ms. Kesha Ankit Choksi, effective June 16, 2026...
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🟡 buyback redemption 10 June 2026Share India Securities announced partial redemption of two non-convertible debenture series on June 10, 2026, reducing each NCD's face value from Rs. ...
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🟡 Board Meeting 3 June 2026No summary available
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🟡 Board Meeting 3 June 2026Share India Securities announced the resignation of Non-Executive Independent Director Subhash Chander Kalia effective June 02, 2026, following his fo...
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🟡 voting results 23 May 2026Share India Securities Limited announced the results of its May 21, 2026 postal ballot, confirming the special resolutions to appoint Arun Kumar Jain ...
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🟡 voting results 23 May 2026Share India Securities announced the results of its May 23, 2026 postal ballot, approving the appointment of Arun Kumar Jain and the re-appointment of...
🧠 Analyst's Read
The company is in a transitional phase, balancing capital market activities with governance enhancements amid fluctuating financial performance. Investors should monitor the successful placement and listing of NCDs, the impact of compliance leadership changes on operational resilience, and quarterly trends in revenue and margin recovery in the upcoming filings.
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 2026-07-21.
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