Almondz Global Securities Limited (ALMONDZ) AI Stock Analysis

• Market Cap: ₹2.54B
• Dividend Yield: N/A
• Average Volume (3M): 19.74K
• Price to Earnings (P/E): 13.0
• Beta (1Y): 1.15
• Revenue Growth: 7.76%
• EPS Growth: -48.14%
• Country: IN
• Employees: 297
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.21
• Shares Outstanding: 173,646,760
• 10 Day Avg. Volume: 8,313
• 30 Day Avg. Volume: 19,742
• PEG Ratio: -0.39
• Price to Book (P/B): 1.44
• Price to Sales (P/S): 2.35
• P/FCF Ratio: -25.23
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: ₹16.50 ▼(-11.15% Downside)

The score is driven primarily by solid financial statement strength (revenue growth and a stable balance sheet), tempered by cash-flow weakness. Technicals are a key drag with the stock trading below major moving averages and negative MACD, while valuation appears reasonable based on the P/E.

Positive Factors

Multi-year revenue growth and improving profitability

Consistent multi-year revenue growth and rising profitability indicate the business is expanding its client base and improving operating efficiency. This durable trend supports reinvestment capacity, strengthens competitive positioning in capital markets, and underpins medium-term earnings resilience.

Stable balance sheet and manageable leverage

A strong, rising equity base and a manageable debt-to-equity profile provide financial flexibility to fund growth, absorb market shocks, and meet regulatory capital needs. Durable balance-sheet strength reduces refinancing risk and supports strategic investments over the next several quarters.

Diversified fee-based business model

Multiple fee streams—brokerage, portfolio management, mutual fund distribution and advisory—create recurring and diversified revenue sources. This structure reduces reliance on any single product, supports cross-selling, and helps stabilize revenues across market cycles over the medium term.

Negative Factors

Negative free cash flow and volatile cash generation

A negative FCF in 2025 and inconsistent operating cash conversion signal liquidity and operational funding risk. Persistent cash volatility can constrain capital allocation, limit reinvestment or dividends, and may force reliance on external financing, weakening medium-term financial flexibility.

Decline in EBIT/EBITDA margins in 2025

A material fall in operating margins suggests rising costs or lower operational leverage, which can erode profitability even as revenue grows. If structural, margin pressure will impair free cash flow and return on capital, requiring sustained cost control or pricing power to restore long-term efficiency.

Sharp EPS contraction indicates earnings volatility

A near-50% EPS decline evidences significant earnings volatility or one-off setbacks. Such swings reduce retained earnings, limit internal funding for growth, and raise uncertainty about sustainable profitability trends, making longer-term planning and stakeholder confidence more challenging.

Almondz Global Securities Limited Business Overview & Revenue Model

Company Description

Almondz Global Securities Limited operates as an investment bank in India. The company operates through Debt and Equity Market Operations, Consultancy and Advisory Fees, Wealth Advisory/Broking Activities, Finance Activities, Infrastructure Advisory, and Healthcare Services segments. It offers corporate finance advisory services, including initial public offerings (IPOs), follow-on public offerings, rights issues, takeovers, delisting, buy backs, and equity valuations; private equity, merger and acquisition, and corporate restructuring services; debt private placement, loan syndication, and debt restructuring services, as well as issues bonds; and infrastructure advisory, joint venture, and project advisory services, as well as merchant banking and underwriting services. The company also provides equity broking services, such as institutional equity, retail equity, equity research, and portfolio management; debt portfolio management services comprising money market operation and debt trading; and wealth management services, which include mutual funds, equity and debt IPOs, derivative strategies, insurance, and other financial products. In addition, it offers mutual funds, fixed income products, loan and mortgages, derivatives, commodities, currencies, PMS, insurance, and real estate services; and operates eye care centers. The company was incorporated in 1994 and is based in Mumbai, India. Almondz Global Securities Limited is a subsidiary of Avonmore Capital & Management Services Limited.

How the Company Makes Money

Almondz Global Securities Limited generates revenue through several key streams. Primarily, the company earns money from brokerage fees charged on securities trading for both retail and institutional clients. Additionally, it generates income from portfolio management services, where clients pay management fees based on the assets under management. The firm also collects commissions from mutual fund distributions and earns advisory fees for financial planning and investment strategy consultations. Partnerships with other financial institutions and mutual fund houses enhance its service offerings and broaden its client base, contributing to its overall earnings.

Almondz Global Securities Limited Financial Statement Overview

Summary

Strong multi-year revenue growth and improving profitability support the score, and the balance sheet is stable with a healthy equity position and manageable leverage. The main offset is weaker cash-flow quality, including negative free cash flow in 2025 and volatile operating cash flow versus net income.

Income Statement

The company shows strong revenue growth over recent years, with a significant increase from 2020 to 2025. Gross profit and net profit margins have been improving, indicating enhanced efficiency and profitability. However, there was a notable drop in EBIT and EBITDA margins in 2025 compared to 2024, which could suggest rising operational costs or other challenges impacting earnings.

Balance Sheet

The balance sheet reflects a strong equity position with a consistent increase in stockholders' equity over the years. The debt-to-equity ratio remains at a manageable level, suggesting prudent leverage. The equity ratio shows a healthy proportion of equity financing compared to total assets. Overall, the balance sheet is stable, with good financial health.

Cash Flow

Cash flow from operations has fluctuated significantly, with a negative free cash flow in 2025, indicating potential liquidity challenges. The operating cash flow to net income ratio shows inconsistencies, which could point to volatility in cash generation relative to earnings. While the company has managed to maintain positive free cash flow previously, recent negative trends warrant attention.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.46B	1.48B	1.12B	749.22M	651.62M	522.88M
Gross Profit	1.07B	1.08B	803.32M	497.04M	411.86M	113.89M
EBITDA	290.17M	267.87M	419.11M	219.80M	263.31M	242.95M
Net Income	181.35M	173.25M	340.69M	157.77M	185.42M	184.72M
Balance Sheet
Total Assets	0.00	3.51B	3.17B	2.71B	2.52B	2.14B
Cash, Cash Equivalents and Short-Term Investments	0.00	624.92M	446.31M	189.14M	243.41M	141.35M
Total Debt	0.00	531.09M	234.24M	205.22M	243.07M	183.90M
Total Liabilities	-2.41B	1.10B	970.94M	609.62M	683.97M	498.57M
Stockholders Equity	2.41B	2.41B	2.20B	2.10B	1.83B	1.64B
Cash Flow
Free Cash Flow	0.00	-138.00M	134.11M	-158.30M	47.45M	3.71M
Operating Cash Flow	0.00	-89.00M	350.63M	-137.40M	100.37M	5.47M
Investing Cash Flow	0.00	-128.20M	-331.91M	19.40M	-38.57M	-19.88M
Financing Cash Flow	0.00	356.00M	-57.68M	66.20M	8.84M	-29.63M

Almondz Global Securities Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 18.57
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ALMONDZ, the sentiment is Negative. The current price of 18.57 is above the 20-day moving average (MA) of 16.18, above the 50-day MA of 16.52, and below the 200-day MA of 19.52, indicating a bearish trend. The MACD of -0.72 indicates Positive momentum. The RSI at 37.79 is Neutral, neither overbought nor oversold. The STOCH value of 35.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ALMONDZ.

Almondz Global Securities Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SUNDARMHLD	71 Outperform	₹10.74B	―	―	―	61.59%	-17.60%
SMCGLOBAL	70 Outperform	₹16.13B	16.50	―	0.70%	-5.03%	-54.73%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
AVONMORE	67 Neutral	₹4.26B	30.12	―	―	-3.87%	-56.35%
BIRLAMONEY	63 Neutral	₹7.06B	13.80	―	―	-6.37%	-24.10%
IVC	61 Neutral	₹2.41B	13.79	―	9.62%	―	―
ALMONDZ	60 Neutral	₹2.54B	12.99	―	―	7.76%	-48.14%

Almondz Global Securities Limited Corporate Events

Almondz Global Securities Files SEBI Dematerialization Compliance Certificate for Q3 FY2025-26

Almondz Global Securities Limited has submitted a compliance certificate from its registrar and share transfer agent, Beetal Financial and Computer Services Pvt. Ltd, confirming adherence to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 December 2025. The certificate states that all securities received for dematerialization during the quarter were properly processed, listed on the appropriate stock exchanges, and that corresponding physical certificates were mutilated, cancelled, and replaced in the company’s records with the depositories as registered owners within the prescribed timeframe, underscoring the company’s ongoing compliance with regulatory and depository requirements for its shareholders.

Almondz Global Securities Reports Positive Financial Results for September 2025

Almondz Global Securities Limited announced the approval of its unaudited financial results for the quarter and half-year ending September 30, 2025. The results, reviewed by the company’s statutory auditors, show a comprehensive income increase, indicating a positive financial performance. This announcement may impact the company’s market positioning positively, as it reflects a stable financial outlook, potentially benefiting stakeholders and investors.