SMC Global Securities (SMCGLOBAL) — concall transcript

📢 Key Event
SMC Global Securities reported Q1 FY27 consolidated operational income of ₹515.1 crores, up 21.2% YoY, with PAT of ₹36.7 crores.

🔄 What Changed
Secured loans now constitute 75% of AUM (up 5% YoY), and insurance segment EBIT moderated due to technology investments; standalone EBITDA margin improved to 26.2%.

🔮 What's Next
Targeting 20-25% AUM CAGR, with full-year AUM target of ₹1,250-1,300 crores; expects recovery in discontinued loan segments by year-end; NIM to expand gradually; Stoxkart to scale with AI-driven growth.

💡 Investor Takeaway
The company is positioning AI and high-yielding retail products to drive sustainable growth, with AUM recovery expected by year-end.

SMC Global Securities reported consolidated operational income of ₹515.1 crores, up 21.2% YoY, with EBITDA at ₹107 crores and PAT of ₹36.7 crores for Q1 FY27. Broking revenue rose to ₹316.3 crores (15.1% YoY growth), driven by cash market share expansion and strong derivatives activity, while insurance broking contributed ₹167.3 crores. AUM reached ₹1,025 crores as of June 2026, with secured loans now making up 75% of AUM, up 5% YoY. Management cited product mix shifts and discontinuations in LAP and unsecured loans as temporary headwinds, expecting recovery by year-end. AI initiatives, including a proprietary chatbot and algorithmic trading platform, are being integrated across platforms. Stoxkart showed fourfold YoY revenue growth, and the company targets 20-25% AUM CAGR. Forward guidance includes AUM targets of ₹1,250-1,300 crores for the full year.

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About SMC Global Securities Ltd (SMCGLOBAL)

Financial Services · Stock/ Commodity Brokers · Listed on BSE

Market Cap: ₹1,659.7 Cr P/E: 12.8 ROE: 8.4% ROCE: 11.0% Div Yield: 3.03%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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