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Indo Thai Securities Limited (IN:INDOTHAI)
:INDOTHAI
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Indo Thai Securities Limited (INDOTHAI) AI Stock Analysis

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IN:INDOTHAI

Indo Thai Securities Limited

(INDOTHAI)

Rating:56Neutral
Price Target:
₹191.00
▲(19.79% Upside)
The overall stock score is primarily influenced by the company's strong revenue growth and robust balance sheet, though cash flow volatility and a high P/E ratio present risks. Technical indicators suggest a lack of strong market momentum, and the modest dividend yield limits income potential for investors.

Indo Thai Securities Limited (INDOTHAI) vs. iShares MSCI India ETF (INDA)

Indo Thai Securities Limited Business Overview & Revenue Model

Company DescriptionIndo Thai Securities Limited (INDOTHAI) is a leading financial services company based in India, primarily engaged in providing a wide range of investment and financial solutions. The company operates within the capital markets sector and offers a diverse array of services including stock broking, depository services, and investment advisory. It caters to both individual and institutional clients, helping them navigate the complexities of financial markets through tailored investment strategies and insights.
How the Company Makes MoneyIndo Thai Securities Limited generates revenue through various streams related to its core operations in the financial services industry. A significant portion of its income comes from brokerage fees charged on transactions executed on behalf of its clients in the stock market. Additionally, it earns depository fees for maintaining and managing clients' securities and providing custodial services. The company also derives revenue from advisory services by offering investment recommendations and wealth management solutions, for which it charges consultancy fees. Furthermore, Indo Thai Securities may engage in proprietary trading, leveraging its expertise in financial markets to generate additional income. Strategic partnerships with financial institutions and technology providers enhance its service offerings, contributing to client acquisition and retention, thereby supporting its revenue model.

Indo Thai Securities Limited Financial Statement Overview

Summary
Indo Thai Securities Limited has shown commendable revenue growth with improving profit margins. The balance sheet is robust with low leverage, though fluctuations in cash flow and asset levels suggest underlying volatility. The company should focus on stabilizing cash flows to ensure sustainable growth and liquidity.
Income Statement
70
Positive
The company has demonstrated strong revenue growth, increasing from INR 43.4 million in 2020 to INR 271.9 million in 2025. The gross profit margin has improved significantly, indicating better cost management. EBIT and net income have shown volatility, with negative EBIT in some years, but the latest figures depict a recovery with positive net income and margins.
Balance Sheet
65
Positive
The company maintains a solid equity base, with a high equity ratio indicating financial stability. The debt-to-equity ratio is low, suggesting a conservative approach to leveraging. However, there has been significant fluctuation in cash balances and total assets over the years, which might indicate potential volatility in financial stability.
Cash Flow
55
Neutral
Cash flow from operations has been inconsistent, with negative figures in recent years. Free cash flow has been negative as well, signaling potential liquidity challenges. However, a strong financing cash flow suggests external funding is being effectively utilized to support operations.
BreakdownTTMDec 2025Dec 2023Dec 2022Dec 2022Dec 2020
Income Statement
Total Revenue285.60M271.88M88.20M150.37M75.59M43.45M
Gross Profit133.81M210.54M20.34M104.69M12.61M14.54M
EBITDA174.79M109.75M211.98M128.25M-81.05M-115.59M
Net Income129.32M82.46M159.27M99.28M-70.97M-108.46M
Balance Sheet
Total Assets0.002.28B1.22B1.09B1.07B704.15M
Cash, Cash Equivalents and Short-Term Investments0.001.20B27.94M362.80M677.89M160.68M
Total Debt0.0032.03M57.45M14.77M31.13M69.40M
Total Liabilities-943.66M468.59M464.66M445.00M458.93M253.87M
Stockholders Equity943.66M1.79B729.89M642.56M585.42M450.29M
Cash Flow
Free Cash Flow0.00-149.99M-49.29M33.92M9.41M122.39M
Operating Cash Flow0.00-145.98M-27.46M48.78M13.49M131.34M
Investing Cash Flow0.00-836.25M34.25M-85.26M-15.75M-140.85M
Financing Cash Flow0.00963.20M1.53M-6.04M4.01M-17.60M

Indo Thai Securities Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price159.45
Price Trends
50DMA
180.32
Negative
100DMA
183.04
Negative
200DMA
174.27
Negative
Market Momentum
MACD
-7.48
Positive
RSI
40.69
Neutral
STOCH
56.80
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 159.45 is below the 20-day moving average (MA) of 166.01, below the 50-day MA of 180.32, and below the 200-day MA of 174.27, indicating a bearish trend. The MACD of -7.48 indicates Positive momentum. The RSI at 40.69 is Neutral, neither overbought nor oversold. The STOCH value of 56.80 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

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
₹10.04B13.87
4.68%22.23%
72
Outperform
₹21.30B13.81
1.98%4.68%-12.79%
71
Outperform
₹14.12B11.54
1.79%-1.20%-41.78%
68
Neutral
$18.06B11.9710.24%3.74%9.75%1.30%
68
Neutral
₹6.69B8.84
0.86%21.83%7.14%
56
Neutral
₹19.32B26.75
0.06%-8.74%-60.68%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:INDOTHAI
Indo Thai Securities Limited
159.45
102.99
182.41%
IN:ASCOM
Ascom Leasing & Investments Ltd.
IN:BIRLAMONEY
Aditya Birla Money Limited
179.70
28.60
18.93%
IN:CSLFINANCE
CSL Finance Limited
293.15
-158.13
-35.04%
IN:GEOJITFSL
Geojit Financial Services Ltd
75.98
-64.69
-45.99%
IN:SMCGLOBAL
SMC Global Securities Ltd. (India)
134.15
-12.20
-8.34%
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.Date of analysis: Aug 08, 2025