SMC Global Q4FY26: PAT Surges 424% YoY to ₹21.5 Cr

7 min read     Updated on 05 May 2026, 05:14 AM
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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%.

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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 Day5 Days1 Month6 Months1 Year5 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?

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SMC Global Q4 Net Profit Surges 470% YoY; Earnings Call Audio Released

4 min read     Updated on 05 May 2026, 03:25 AM
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SMC Global Securities reported a 470% YoY surge in Q4 consolidated net profit to ₹211M and 42% EBITDA growth to ₹897M. FY26 consolidated revenue stood at ₹1,87,692.27 lakhs with net profit after tax of ₹10,324.60 lakhs. The audio recording of the Q4 FY25-26 Earnings Conference Call held on May 4, 2026 is now available on the company's website under Regulation 30 of SEBI LODR, with no unpublished price sensitive information disclosed.

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SMC Global Securities Limited has announced its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The Board of Directors, which met on May 2, 2026, reviewed and approved the results audited by Statutory Auditors P.C. Bindal & Co., Chartered Accountants. The consolidated financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013. Pursuant to Regulation 47(1)(a) and 52(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published newspaper advertisements of its audited standalone and consolidated financial results on May 3, 2026 in Jansatta (Delhi edition, Hindi) and Financial Express (English, nationwide circulation).

Earnings Conference Call Audio Recording

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has informed that the audio recording of the Q4 FY25-26 Earnings Conference Call held on Monday, May 4, 2026 at 4:00 P.M. is now available on the company's website. The recording can be accessed at https://www.smcindiaonline.com//wp-content/uploads/2026/05/Concall-SMC-GLOBAL-SECURITIES-LIMITED-04052026.mp3 . The company has confirmed that no unpublished price sensitive information was shared or discussed during the call. The transcript for the said call will be shared with the Stock Exchange and uploaded onto the company's website in due course. The intimation was signed by Suman Kumar, E.V.P. (Corporate Affairs & Legal), Company Secretary & General Counsel (Membership No. F5824).

Unmodified Audit Opinion Declared

Pursuant to Regulation 33(3)(d) and 52(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has declared that Statutory Auditors M/s P.C. Bindal & Co. have issued an unmodified audit opinion on the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The declaration was confirmed and signed by Ajay Garg, Director & Chief Executive Officer (DIN: 00003166), and Vinod Kumar Jamar, President & Group CFO, on May 2, 2026, from New Delhi. The intimation was also made available on the company's website at www.smcindiaonline.com .

Strong Q4 Performance with Significant YoY Growth

The company delivered exceptional performance in Q4, with consolidated net profit surging to ₹211M compared to ₹37M in the same quarter last year, representing a remarkable 470% year-on-year growth. Q4 revenue also showed positive momentum, rising to ₹5.1B from ₹4.95B in the corresponding quarter of the previous year. Additionally, Q4 EBITDA increased to ₹897M from ₹630M in the previous year, marking a 42% year-on-year growth.

Q4 Performance: Current Quarter Previous Year Quarter Growth (%)
Consolidated Net Profit: ₹211M ₹37M +470%
Revenue: ₹5.1B ₹4.95B +3.03%
EBITDA: ₹897M ₹630M +42%
EBITDA Margin: 17.4% 15% +240 bps

Consolidated Financial Performance FY26

For the financial year ended March 31, 2026, the company reported total revenue from operations of ₹1,87,692.27 lakhs, compared to ₹1,77,574.88 lakhs in the previous year. Net profit after tax for the year stood at ₹10,324.60 lakhs, down from ₹14,681.16 lakhs in FY25. Total comprehensive income for the year was ₹11,319.47 lakhs. The paid-up equity share capital increased to ₹4,188.00 lakhs from ₹2,094.00 lakhs in the previous year, following the bonus issue. Earnings per share (basic and diluted) for FY26 was ₹4.87, compared to ₹6.96 in the previous year.

Standalone Financial Results

On a standalone basis, total revenue from operations for FY26 was ₹96,812.08 lakhs, compared to ₹92,429.19 lakhs in the previous year. Profit before tax for the year was ₹10,089.81 lakhs, while profit after tax stood at ₹8,131.68 lakhs. For the quarter ended March 31, 2026, standalone revenue from operations was ₹24,992.70 lakhs, with profit after tax of ₹2,067.89 lakhs.

Key Financial Metrics

The following table presents a consolidated view of key financial metrics for the quarter and full year ended March 31, 2026:

Particulars: Quarter Ended March 31, 2026 (Audited) Year Ended March 31, 2026 (Audited)
Consolidated Total Revenue: ₹51,694.34 lakhs ₹1,87,692.27 lakhs
Consolidated Net Profit After Tax: ₹2,146.42 lakhs ₹10,324.60 lakhs
Standalone Total Revenue: ₹24,992.70 lakhs ₹96,812.08 lakhs
Standalone Profit After Tax: ₹2,067.89 lakhs ₹8,131.68 lakhs
Basic EPS (Consolidated): ₹1.01 ₹4.87

Dividend Announcement

The Board of Directors has proposed a final dividend of 30%, or ₹0.60 per equity share of the face value of ₹2 each, amounting to ₹1,256.40 lakhs. This is subject to approval by shareholders at the ensuing Annual General Meeting. The company had already paid an interim dividend of 30% during FY 2025-26, bringing the total dividend for the financial year to 60%, or ₹1.20 per equity share.

Corporate Actions

On November 17, 2025, the company allotted 10,47,00,000 bonus equity shares of ₹2 each to shareholders who held equity shares as on the record date. Earnings per equity share has been calculated for the current period and restated for all previous periods after considering the total number of equity shares post-issue of bonus shares as per the provisions of the applicable Ind AS.

Historical Stock Returns for SMC Global Securities

1 Day5 Days1 Month6 Months1 Year5 Years
-0.37%-1.90%-6.10%+6.59%+1.51%+82.73%

Given the significant divergence between Q4's 470% net profit surge and the full-year FY26 net profit decline from ₹14,681 lakhs to ₹10,325 lakhs, what structural cost or revenue challenges weighed on SMC Global's earlier quarters, and can the Q4 momentum be sustained into FY27?

With SMC Global's paid-up equity share capital doubling following the bonus issue, how might the resulting EPS dilution affect investor sentiment and the company's ability to attract institutional investors going forward?

As SEBI continues to tighten regulations around retail derivatives trading and broking commissions, how could potential regulatory changes impact SMC Global's revenue mix and profitability in the near term?

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