Indo Thai Securities Limited (IN:INDOTHAI)
:INDOTHAI
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Indo Thai Securities Limited
(INDOTHAI)
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Rating:51Neutral
Price Target:
₹299.00
▲(6.18% Upside)
Action:ReiteratedDate:01/04/26
The score is held back most by weak technicals (bearish trend with negative MACD) and expensive valuation (very high P/E). Financial performance is mixed: strong revenue growth and a low-leverage balance sheet are positives, but volatile profitability and inconsistent operating/free cash flow reduce overall quality.
Positive Factors
Strong multi-year revenue growth
Revenue has expanded materially over multi-year horizons, rising from INR 43.4m in 2020 to INR 271.9m in 2025 per the income summary. Durable top-line expansion indicates improving market traction and scale potential that can sustain investment in growth and product offering over months.
Negative Factors
Inconsistent, often negative operating/free cash flow
Weak and inconsistent operating and free cash flow undermine self-funded growth and make the business dependent on external capital to sustain operations. Over a 2–6 month horizon this raises liquidity and reinvestment risks and can constrain execution of strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong multi-year revenue growth
Revenue has expanded materially over multi-year horizons, rising from INR 43.4m in 2020 to INR 271.9m in 2025 per the income summary. Durable top-line expansion indicates improving market traction and scale potential that can sustain investment in growth and product offering over months.
Read all positive factors
Indo Thai Securities Limited (INDOTHAI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹38.21B
Dividend Yield0.03%
Average Volume (3M)217.28K
Price to Earnings (P/E)53.3
Beta (1Y)0.18
Revenue Growth115.23%
EPS Growth-48.61%
CountryIN
Employees57
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)1.39
Shares Outstanding128,618,200
10 Day Avg. Volume251,674
30 Day Avg. Volume217,279
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)1.13
Price to Sales (P/S)13.59
P/FCF Ratio-13.51
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. engages in the stock and share broking, depository participants, real estate, and other related ancillary businesses in India. It trades in equities and derivatives, commodities derivatives, and currency derivatives; and ...
How the Company Makes Money
null...
Indo Thai Securities Limited Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
65
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 359.77M | 149.16M | 239.68M | 55.82M | 50.55M | 129.73M |
| Gross Profit | 284.01M | 59.03M | 171.82M | 1.36M | 4.87M | 100.02M |
| EBITDA | 292.19M | 117.27M | 208.09M | -82.32M | 125.52M | 177.20M |
| Net Income | 217.12M | 82.45M | 159.80M | -64.84M | 99.28M | 101.63M |
Balance Sheet | ||||||
| Total Assets | 2.84B | 2.28B | 1.22B | 1.07B | 1.09B | 786.10M |
| Cash, Cash Equivalents and Short-Term Investments | 1.41B | 1.20B | 288.21M | 677.89M | 362.80M | 294.65M |
| Total Debt | 31.22M | 32.03M | 57.45M | 31.13M | 14.77M | 2.27M |
| Total Liabilities | 657.61M | 468.59M | 464.66M | 458.93M | 445.00M | 232.79M |
| Stockholders Equity | 2.17B | 1.79B | 729.89M | 585.42M | 642.56M | 553.31M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -149.99M | -49.29M | 9.41M | 33.92M | 32.46M |
| Operating Cash Flow | 0.00 | -145.98M | -27.46M | 13.49M | 48.78M | 43.64M |
| Investing Cash Flow | 0.00 | -836.25M | 34.25M | -15.75M | -85.26M | 37.67M |
| Financing Cash Flow | 0.00 | 963.20M | 1.53M | 4.01M | -6.04M | -71.08M |
Indo Thai Securities Limited Technical Analysis
Positive
281.60
Price Trends
266.94
Positive
301.51
Positive
276.89
Positive
Market Momentum
8.57
Negative
69.38
Neutral
55.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOTHAI, the sentiment is Positive. The current price of 281.6 is above the 20-day moving average (MA) of 281.05, above the 50-day MA of 266.94, and above the 200-day MA of 276.89, indicating a bullish trend. The MACD of 8.57 indicates Negative momentum. The RSI at 69.38 is Neutral, neither overbought nor oversold. The STOCH value of 55.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹32.25B | 10.29 | ― | 0.68% | -22.62% | -39.34% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | ₹23.95B | 13.44 | ― | 0.33% | -1.71% | -6.46% | |
66 Neutral | ₹13.85B | 15.62 | ― | 0.70% | -4.47% | -59.29% | |
64 Neutral | ₹18.34B | 40.70 | ― | 1.88% | -14.93% | -51.92% | |
58 Neutral | ₹30.60B | 15.10 | ― | ― | 91.39% | 56.29% | |
51 Neutral | ₹38.21B | 53.30 | ― | 0.03% | 115.23% | -48.61% |
* Financial Sector Average
IN:INDOTHAI
Indo Thai Securities Limited
292.00
93.37
47.01%
IN:GEOJITFSL
Geojit Financial Services Ltd
66.02
-9.94
-13.09%
IN:MONARCH
Monarch Networth Capital Limited
298.10
-15.85
-5.05%
IN:SHAREINDIA
Share India Securities Ltd
145.30
-3.90
-2.61%
IN:SMCGLOBAL
SMC Global Securities Ltd. (India)
65.94
11.16
20.36%
IN:SGFIN
SG Finserve Limited
543.30
142.30
35.49%
Indo Thai Securities Limited Corporate Events
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...
Indo Thai Securities Extends Rs 20 Crore Inter-Corporate Loan to Yash Technologies
Feb 2, 2026
Indo Thai Securities Limited has executed an inter-corporate loan agreement with Yash Technologies Private Limited for an amount of up to Rs 20 crore, carrying an interest rate of 10% per annum payable on maturity over a fixed tenure of four month...
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.