Indo Thai Securities Limited (IN:INDOTHAI)
:INDOTHAI
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Indo Thai Securities Limited
(INDOTHAI)
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Rating:62Neutral
Price Target:
₹250.00
▼(-11.22% Downside)
Action:Reiterated
Date:05/12/26
The score is primarily supported by strong reported profitability and low leverage, but it is held back by weak cash-flow conversion (negative operating and free cash flow for three straight years) and earnings volatility. Technicals are modestly constructive with neutral momentum and price still above key longer-term averages, while valuation is a notable headwind due to the high P/E despite a moderate dividend yield.
Positive Factors
High Profitability
Sustained very high net and operating margins (~64%) indicate durable pricing power and operational efficiency. Over a multi-month horizon this margin strength provides a cushion against revenue swings, supports internal funding for growth or dividends, and enhances return-on-equity resilience.
Negative Factors
Poor Cash Conversion
Three consecutive years of negative operating and free cash flow means reported earnings are not converting into cash. Persistent cash shortfalls raise reliance on external funding, increase refinancing or dilution risk, and threaten the sustainability of dividends, capex, or strategic investments.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained very high net and operating margins (~64%) indicate durable pricing power and operational efficiency. Over a multi-month horizon this margin strength provides a cushion against revenue swings, supports internal funding for growth or dividends, and enhances return-on-equity resilience.
Read all positive factors
Indo Thai Securities Limited (INDOTHAI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹30.29B
Dividend Yield0.03%
Average Volume (3M)217.28K
Price to Earnings (P/E)46.6
Beta (1Y)0.40
Revenue Growth283.48%
EPS Growth-1.97%
CountryIN
Employees57
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.44
Shares Outstanding128,618,200
10 Day Avg. Volume251,674
30 Day Avg. Volume217,279
Financial Highlights & Ratios
PEG Ratio-1.74
Price to Book (P/B)12.46
Price to Sales (P/S)33.92
P/FCF Ratio-164.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indo Thai Securities Limited Business Overview & Revenue Model
Company Description
Indo Thai Securities Ltd. is an Indian enterprise offering a comprehensive array of services spanning financial markets, real estate, and associated ancillary activities. The company facilitates trading in equities, commodity and currency derivati...
How the Company Makes Money
null...
Indo Thai Securities Limited Financial Statement Overview
Summary
Income Statement
76
Positive
Balance Sheet
84
Very Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 359.77M | 1.04B | 149.16M | 239.68M | 55.82M | 50.55M |
| Gross Profit | 284.01M | 959.58M | 59.03M | 171.82M | 1.36M | 4.87M |
| EBITDA | 292.19M | 838.75M | 117.27M | 208.09M | -82.32M | 125.52M |
| Net Income | 217.12M | 663.65M | 82.45M | 159.80M | -64.84M | 99.28M |
Balance Sheet | ||||||
| Total Assets | 2.84B | 3.74B | 2.28B | 1.22B | 1.07B | 1.09B |
| Cash, Cash Equivalents and Short-Term Investments | 1.41B | 1.27B | 1.20B | 288.21M | 677.89M | 362.80M |
| Total Debt | 31.22M | 239.95M | 32.03M | 57.45M | 31.13M | 14.77M |
| Total Liabilities | 657.61M | 872.92M | 468.59M | 464.66M | 458.93M | 445.00M |
| Stockholders Equity | 2.17B | 2.84B | 1.79B | 729.89M | 585.42M | 642.56M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -214.82M | -149.99M | -49.29M | 9.41M | 33.92M |
| Operating Cash Flow | 0.00 | -197.81M | -145.98M | -27.46M | 13.49M | 48.78M |
| Investing Cash Flow | 0.00 | -341.68M | -836.25M | 34.25M | -15.75M | -85.26M |
| Financing Cash Flow | 0.00 | 563.47M | 963.20M | 1.53M | 4.01M | -6.04M |
Indo Thai Securities Limited Technical Analysis
Negative
281.60
Price Trends
270.87
Negative
265.34
Negative
292.77
Negative
Market Momentum
-10.34
Negative
41.96
Neutral
74.55
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOTHAI, the sentiment is Negative. The current price of 281.6 is above the 20-day moving average (MA) of 239.45, above the 50-day MA of 270.87, and below the 200-day MA of 292.77, indicating a bearish trend. The MACD of -10.34 indicates Negative momentum. The RSI at 41.96 is Neutral, neither overbought nor oversold. The STOCH value of 74.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INDOTHAI.
Indo Thai Securities Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹27.59B | 15.06 | ― | 0.33% | 13.89% | 12.56% | |
72 Outperform | ₹30.11B | 9.60 | ― | 0.68% | 1.32% | -6.96% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | ₹21.81B | 23.51 | ― | 1.88% | -14.93% | -51.92% | |
62 Neutral | ₹30.29B | 46.63 | ― | 0.03% | 283.48% | -1.97% | |
58 Neutral | ₹15.17B | 14.94 | ― | 0.70% | 5.45% | -29.94% | |
58 Neutral | ₹32.84B | 25.83 | ― | ― | 91.39% | 56.29% |
* Financial Sector Average
IN:INDOTHAI
Indo Thai Securities Limited
240.20
58.61
32.28%
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Indo Thai Securities Limited Corporate Events
Indo Thai Securities Appoints BlueChariot for Investor Relations Mandate
Jun 8, 2026
Indo Thai Securities Limited has appointed BlueChariot Investment to provide investor relations services with immediate effect, signaling a formal mandate to enhance communication with shareholders and the broader market. The move suggests a strat...
Indo Thai Subsidiary Femto Green Hydrogen Advances Purdue Research Tie-Up on Diesel Decarbonization Tech
Mar 17, 2026
Femto Green Hydrogen Ltd., a subsidiary of Indo Thai Securities Limited, has been engaged in multi-year evaluation of its proprietary diesel efficiency technology by the Center for Research and Education in Advanced Transportation Ecosystems at Pu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.