SMC Global Securities Q4 FY26 PAT at ₹21.5 Crore, Up 424% YoY
SMC Global Securities reported Q4 FY26 PAT of ₹21.5 crore, up 424% YoY, on operational income of ₹516.9 crore. For FY26, PAT was ₹103.2 crore. The broking segment revenue grew 19.3% YoY in Q4, while insurance broking revenue rose 29.8%. The financing business saw a deliberate reduction in disbursements to prioritize asset quality.
The positive financial results, including substantial PAT growth and revenue increases in core segments, are material. However, the company also highlighted a deliberate slowdown in its financing business due to macro challenges, which tempers the overall impact. The strategic shift and segment-specific performance provide a mixed but generally positive outlook.
The company reported significant year-on-year growth in Profit After Tax for the fourth quarter of FY26, along with revenue growth across key segments like broking and insurance. Despite challenges in the financing segment, the overall financial performance and strategic focus on asset quality indicate a positive outlook.
SMC Global Securities Limited has released its earnings call transcript for the fourth quarter and full year of FY26. The company reported a consolidated operational income of ₹516.9 crore for Q4 FY26, a 22.6% year-on-year increase. EBITDA for the quarter rose by 42.6% YoY to ₹89.7 crore, with an improved EBITDA margin of 17.4%. Profit After Tax (PAT) for the quarter stood at ₹21.5 crore, a significant increase from ₹4.1 crore in Q4 FY25.
For the full year FY26, consolidated operational income grew by 5.7% to ₹1,876.9 crore. EBITDA for the year was ₹376.4 crore with a margin of 20.1%, while PAT was ₹103.2 crore. The company noted that margin compression for the full year was due to sustained funding costs and a deliberate calibration in the financing business.
The broking, distribution, and trading segment saw Q4 FY26 revenue grow by 19.3% YoY to ₹286.8 crore, with segment EBIT improving by 66.6% YoY to ₹60.9 crore. For the full year, segment revenue grew 4.3% to ₹1,089.2 crore. The broking client base, including Stoxkart, grew to 13.39 lakh accounts, and broking DP AUA expanded by 23.96% to ₹1,42,703 crore.
The insurance broking business reported Q4 FY26 revenue growth of 29.8% YoY to ₹208.1 crore. For the full year, segment revenue grew 17.1% to ₹667.5 crore. A strategic development was the upgrade to a composite broker, allowing expansion into the reinsurance segment.
The financing NBFC segment experienced a challenging FY26, with segment revenue declining 15.1% to ₹188.9 crore and segment EBIT declining to ₹102.2 crore. This was attributed to a deliberate decision to calibrate disbursements and prioritize asset quality in a challenging macro environment, leading to a reduction in unsecured loans and large-ticket LAP. Secured AUM stood at 76.71% as of March 2026.
During the Q&A, management indicated that the commodity segment in broking is expected to grow, and the company is focusing on increasing disbursements from its secured product lines in the financing business, targeting 15-20% AUM growth for the next year. Stoxkart reported a 150% revenue growth in FY26 and acquired 100,000 new clients.
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SMC Global Securities Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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