SMC Global Q4FY26: PAT Surges 424% YoY to ₹21.5 Cr
SMC Global Securities Limited reported strong Q4FY26 performance with operational income of ₹516.9 crores, up 22.6% YoY, and PAT of ₹21.5 crores, increasing 424.4% YoY. For FY26, consolidated revenue reached ₹1,876.9 crores with PAT of ₹103.2 crores, though margins moderated due to softer derivatives activity and regulatory changes in the F&O segment. The NBFC business demonstrated robust metrics with AUM of ₹1,119 crores, collection efficiency of 98.63%, and credit cost of 1.31%.

*this image is generated using AI for illustrative purposes only.
SMC Global Securities Limited has scheduled its investor presentation for the fourth quarter of financial year 2025-26 on May 3, 2026, in compliance with Regulation 30(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. The presentation materials are available on the company's official website at www.smcindiaonline.com . The announcement was digitally signed by Suman Kumar, E.V.P. (Corporate Affairs & Legal), Company Secretary & General Counsel.
Q4FY26 Performance Highlights
Q4-FY26 performance improved sharply year-on-year, reflecting normalization of market activity, benefits of strategic initiatives undertaken over the past year, and stronger operating leverage. The company reported operational income of ₹516.9 crores for Q4FY26, representing a 22.6% increase compared to Q4FY25. EBITDA for the quarter stood at ₹89.7 crores, up 42.4% YoY, with EBITDA margins expanding to 17.4% from 14.9% in the previous year. Profit after tax for Q4FY26 reached ₹21.5 crores, a significant increase of 424.4% YoY, with PAT margins improving to 4.2%.
| Parameter | Q4FY26 | Q4FY25 | YoY Change |
|---|---|---|---|
| Operational Income (₹ Crs) | 516.9 | 421.5 | +22.6% |
| EBITDA (₹ Crs) | 89.7 | 63.0 | +42.4% |
| EBITDA Margins (%) | 17.4% | 14.9% | +250 bps |
| PAT (₹ Crs) | 21.5 | 4.1 | +424.4% |
| PAT Margins (%) | 4.2% | 1.0% | +320 bps |
FY26 Financial Performance
For the full financial year 2025-26, the company reported consolidated revenue of ₹1,876.9 crores, representing a 5.7% growth compared to the previous year. EBITDA for FY26 stood at ₹376.4 crores with EBITDA margins of 20.1%. Net profit for the year was ₹103.2 crores with PAT margins of 5.5%. FY26 profitability was impacted by softer derivatives activity and regulatory changes in the F&O segment, leading to moderation in EBITDA and PAT despite revenue growth.
| Parameter | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Operational Income (₹ Crs) | 1,876.9 | 1,775.7 | +5.7% |
| EBITDA (₹ Crs) | 376.4 | 419.4 | -10.3% |
| EBITDA Margins (%) | 20.1% | 23.6% | -350 bps |
| PAT (₹ Crs) | 103.2 | 146.8 | -29.7% |
| PAT Margins (%) | 5.5% | 8.3% | -280 bps |
Business Segment Performance
SMC Global Securities operates through three primary segments: Broking, Distribution & Trading; Insurance Broking Services; and Financing Activities. The Broking, Distribution and Trading segment contributed ₹1,089.2 crores to total segment revenue for FY26. Insurance broking emerged as an improving business vertical, supporting diversification and partially offsetting softness in core broking revenues.
NBFC and Wealth Management Metrics
The company's Financing (NBFC) business reported AUM of ₹1,119 crores with total income of ₹188.9 crores and net worth of ₹488.3 crores. The NBFC segment demonstrated strong operational metrics with collection efficiency of 98.63%, credit cost of 1.31%, and provision coverage ratio of 35.02%. Cumulative loans disbursed exceeded INR 45 Bn, with 85 channel partners and 38 branches. Wealth management served 12,342 clients with AUM/AUA of INR 1,173 Crores across Delhi and Mumbai branches.
Historical Stock Returns for SMC Global Securities
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.37% | -1.90% | -6.10% | +6.59% | +1.51% | +82.73% |
How might SEBI's evolving regulatory framework for the F&O segment impact SMC Global's broking revenue trajectory in FY27, and what hedging strategies is the company considering?
Given the NBFC AUM decline from ₹1,291 crores in FY25 to ₹1,119 crores in FY26, what specific growth levers and product segments is SMC planning to prioritize to reverse this contraction?
With insurance broking revenue growing 17% YoY to ₹667 crores, could this segment potentially surpass core broking as the primary revenue driver within the next 2-3 years?


































