Indo Thai Securities Limited (INDOTHAI) AI Stock Analysis

• Market Cap: ₹20.16B
• Dividend Yield: 0.06%
• Average Volume (3M): 30.61K
• Price to Earnings (P/E): 44.9
• Beta (1Y): -0.25
• Revenue Growth: -8.74%
• EPS Growth: -78.34%
• Country: IN
• Employees: 57
• Sector: Financial
• Sector Strength: 71
• Industry: Financial - Capital Markets
• EPS (TTM): 0.72
• Shares Outstanding: 116,920,190
• 10 Day Avg. Volume: 23,240
• 30 Day Avg. Volume: 30,607
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹191.00
• Price Target Upside: 8.49% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 56 Neutral
• Price Target: ₹191.00 ▲(8.49% 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 Business Overview & Revenue Model

Company Description

Indo 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 Money

Indo 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 strong revenue growth and improving profit margins. The balance sheet is solid with low leverage, but cash flow inconsistency and asset fluctuations suggest financial volatility.

Income Statement

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

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

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.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	213.13M	271.88M	88.20M	75.59M	150.37M	130.90M
Gross Profit	133.81M	210.54M	20.34M	12.61M	104.69M	101.19M
EBITDA	174.79M	109.75M	211.98M	-81.05M	128.25M	178.51M
Net Income	129.32M	82.46M	159.27M	-70.97M	99.28M	101.63M
Balance Sheet
Total Assets	0.00	2.28B	1.22B	1.07B	1.09B	786.10M
Cash, Cash Equivalents and Short-Term Investments	0.00	1.20B	27.94M	677.89M	362.80M	294.65M
Total Debt	0.00	32.03M	57.45M	31.13M	14.77M	2.27M
Total Liabilities	-943.66M	468.59M	464.66M	458.93M	445.00M	232.79M
Stockholders Equity	943.66M	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

• Technical Analysis Sentiment: Negative
• Last Price: 176.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 176.05 is below the 20-day moving average (MA) of 187.51, below the 50-day MA of 185.81, and above the 200-day MA of 170.25, indicating a neutral trend. The MACD of -3.89 indicates Positive momentum. The RSI at 38.95 is Neutral, neither overbought nor oversold. The STOCH value of 15.11 is Positive, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SMCGLOBAL	71 Outperform	₹14.52B	11.86		1.70%	-1.20%	-41.78%
BIRLAMONEY	69 Neutral	₹9.61B	13.13		―	4.68%	22.23%
Sector *	68 Neutral	$17.53B	11.67	10.43%	3.82%	9.93%	1.66%
CSLFINANCE	68 Neutral	₹6.92B	9.15		0.85%	21.83%	7.14%
GEOJITFSL	64 Neutral	₹20.24B	13.12		2.06%	4.68%	-12.79%
INDOTHAI	56 Neutral	₹20.16B	44.94		0.06%	-8.74%	-78.34%