Share India Securities Ltd (SHAREINDIA)
🎯 Key Takeaways
- Share India Securities is in a clear phase of accelerated growth, transitioning from a traditional brokerage model toward a more diversified financial services platform with strong momentum in NBFC, mutual fund, and institutional segments. Management consistently highlights technology-driven expansion and client base diversification as key growth enablers, supported by record profitability and rising asset under management (AUM) figures.
- Revenue grew 7.7% QoQ to ₹448 in Q1FY27.
- ⚠️ 1) High concentration in promoter-controlled shares may limit float liquidity. 2) Rising debt via NCDs introduces refinancing and interest rate risk,
📖 The Story
Share India Securities is in a clear phase of accelerated growth, transitioning from a traditional brokerage model toward a more diversified financial services platform with strong momentum in NBFC, mutual fund, and institutional segments. Management consistently highlights technology-driven expansion and client base diversification as key growth enablers, supported by record profitability and rising asset under management (AUM) figures.
📰 What's Happening
In Q1 FY27, the company delivered its highest-ever quarterly net profit of INR 1,244 Mn (+47.2% YoY), driven by robust growth across all segments — broking client count rose to 48,061, NBFC clients to 37,538, and institutional clients to 212. AUM in MTF grew 47.8% YoY to INR 4,655 Mn, while disbursements reached INR 799 Mn. The board scheduled a conference call on July 27, 2026, to discuss results, underscoring confidence in sustained momentum. Additionally, on August 21, 2026, the NCLT approved the amalgamation of Silverleaf Capital Services, integrating its tech-focused financial services operations to enhance synergies and long-term value creation.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 341 | 372 | 416 | 448 |
| Operating Profit | 121 | 117 | 76 | 160 |
| OPM % | 35.5% | 31.5% | 18.3% | 35.8% |
| Net Profit | 93 | 89 | 58 | 124 |
| EPS | ₹4.25 | ₹4.06 | ₹2.61 | ₹5.67 |
Revenue has grown sequentially and YoY, rising from ₹341 Mn in Sep 2025 to ₹448 Mn in Jun 2026, with operating margins holding strong above 35% in the latest quarter despite earlier volatility. Net profit and EPS have shown consistent upward trends, with Jun 2026 EPS at ₹5.67, up from ₹2.61 in Mar 2026. This profitability surge aligns with management’s narrative of operational efficiency and scale benefits, particularly in high-margin segments like MTF and institutional broking.
🔮 Management Outlook & What's Next
Management has not provided formal forward guidance beyond operational commentary in filings, but repeated emphasis on technology adoption, client diversification, and segmental expansion suggests confidence in multi-year growth. The scheduled conference call on July 27, 2026, is expected to reiterate this trajectory, with no indication of slowdown in client acquisition or AUM growth trends.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 44 | 44 | 44 | 44 |
| Reserves | 2,214 | 2,290 | 2,465 | 2,591 |
| Borrowings | 345 | 486 | 548 | 695 |
| Total Liabilities | 3,608 | 3,780 | 4,333 | 4,590 |
| Fixed Assets | 73 | 71 | 67 | 62 |
| Investments | 251 | 357 | 275 | 228 |
| Total Assets | 3,608 | 3,780 | 4,333 | 4,590 |
The balance sheet shows steady asset growth, with total assets rising from ₹3,780 Mn in Mar 2025 to ₹4,590 Mn in Mar 2026, while borrowings increased modestly to ₹695 Mn. Equity and reserves have expanded, indicating capital retention rather than aggressive leverage. The recent NCD issuance of up to INR 150 crores signals active capital raising for operational needs, but the low D/E of 0.21 suggests conservative leverage management.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +6 |
| Investing | -192 |
| Financing | +274 |
| Net Cash Flow | +88 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 48.6% | 48.6% | 48.6% | 48.6% |
| FII | 0.7% | 1.4% | 1.5% | 1.9% |
| DII | 0.4% | 0.4% | 0.5% | 0.5% |
| Public | 28.2% | 27.7% | 28.1% | 28.4% |
| # Shareholders | 72,274 | 69,152 | 67,413 | 66,409 |
Promoter holding remains stable at 48.62% over the past year, indicating alignment with long-term interests. FII and DII ownership has slightly increased from 1.44% to 1.88% and 0.48% respectively in Q1FY27, reflecting growing institutional confidence. The rising number of public shareholders (66,409 in Q1FY27) and consistent promoter stake suggest broadening retail interest without dilution of control.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.44 L Cr | 31.7 | 10.4% | 18.1% | 3.82 |
| BAJAJFINSV | 3.07 L Cr | 30.1 | 11.4% | 26.5% | 5.50 |
| SHRIRAMFIN | 2.42 L Cr | 18.1 | 11.5% | 17.1% | 3.80 |
| CHOLAFIN | 1.57 L Cr | 27.2 | 9.3% | 18.9% | 6.93 |
| TATACAP | 1.54 L Cr | 28.1 | 8.4% | 12.3% | 5.28 |
| JIOFIN | 1.52 L Cr | 71.4 | 2.3% | 1.6% | 0.17 |
| ICICIAMC | 1.50 L Cr | 30.1 | 111.5% | 83.6% | 0.00 |
| BAJAJHLDNG | 1.24 L Cr | 14.0 | 12.4% | 12.3% | 0.00 |
| PFC | 1.17 L Cr | 4.5 | 9.8% | 25.3% | 7.62 |
| MUTHOOTFIN | 1.12 L Cr | 9.9 | 14.4% | 29.3% | 3.88 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) High concentration in promoter-controlled shares may limit float liquidity. 2) Rising debt via NCDs introduces refinancing and interest rate risk, especially with maturities within 18 months. 3) Removal of Independent Director Shanti Kumar Jain from key committees raises governance continuity concerns. 4) Despite strong growth, margin variability in core broking operations remains a structural risk if client activity fluctuates.
📋 Recent Filings
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🟡 buyback redemption 10 September 2026Share India Securities announced partial redemption of two NCD series on September 10, 2026, reducing face values from Rs 50,000 to Rs 37,500 and from...
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🔴 Corporate Action 9 September 2026Share India Securities announced early redemption of 5,000 Series A NCDs (₹37,500 face value each, [amount not verified] total) and 4,990 Series B NCD...
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🔴 Corporate Action 8 September 2026Share India Securities announced that the National Company Law Tribunal approved the amalgamation scheme of Silverleaf Capital Services with Share Ind...
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🟡 Board Meeting 5 September 2026Share India Securities held its 32nd AGM on September 29, 2026 via video conference, approving the 2025-26 audited financials, declaring a final divid...
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🔴 annual report 5 September 2026Share India Securities Ltd reported consolidated revenue of **₹1,470 crores** and profit of **₹324 crores** for FY 2025-26, reflecting **58 bps YoY im...
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🟡 sustainability report 5 September 2026Share India Securities Limited filed its Business Responsibility and Sustainability Report for financial year 2025-26 with BSE and NSE on September 5,...
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🟡 Board Meeting 3 September 2026Share India Securities announced board changes effective September 3, 2026, including appointing Rajesh Arora as an additional independent director pe...
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🟡 Board Meeting 3 September 2026Share India Securities announced board changes effective September 3, 2026, including appointing Rajesh Arora as an additional independent director pe...
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🟡 Board Meeting 3 September 2026Share India Securities announced board outcomes from its September 3, 2026 meeting, approving the appointment of Rajesh Arora as an Additional Directo...
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🟡 buyback redemption 3 September 2026Share India Securities announced that holders of its non-convertible debentures approved early redemption of 5,000 Series A and 4,990 Series B NCDs, t...
🧠 Analyst's Read
Share India Securities demonstrates strong operational momentum with record profitability and expanding footprint across financial services, but investors should monitor execution risks around debt management, governance changes, and margin sustainability in volatile market conditions.
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 2026-09-13.
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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