SecMark Consultancy Ltd. (SECMARK) AI Stock Analysis

• Market Cap: ₹1.05B
• Dividend Yield: N/A
• Average Volume (3M): 271.00
• Price to Earnings (P/E): 62.5
• Beta (1Y): 1.16
• Revenue Growth: 28.58%
• EPS Growth: 68.42%
• Country: IN
• Employees: 66
• Sector: Services
• Sector Strength: N/A
• Industry: Consulting Services
• EPS (TTM): -1.80
• Shares Outstanding: 10,447,000
• 10 Day Avg. Volume: 441
• 30 Day Avg. Volume: 271
• PEG Ratio: -0.08
• Price to Book (P/B): 4.54
• Price to Sales (P/S): 2.65
• P/FCF Ratio: 9.54
• 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: 73 Outperform
• Price Target: ₹135.00 ▲(16.88% Upside)
• Action: Upgraded Date: 02/26/26
• Date: Action: Upgraded 02/26/26

The score is driven primarily by strong financial performance (profitability and cash-flow improvement with solid balance sheet trends) and supportive near-to-medium-term technical momentum. These positives are tempered by a rich valuation (high P/E and no dividend yield provided).

Positive Factors

Revenue & margin improvement

SecMark has shown durable top-line momentum and material margin expansion, converting prior losses into positive EBIT and net income. Sustained revenue growth combined with rising gross profit margin indicates scalable service economics and improved operational discipline that support long-term profitability and reinvestment.

Free cash flow turnaround

The shift to positive free cash flow reflects improved cash conversion and working-capital management. Reliable FCF gives the company durable flexibility to fund capex, reduce leverage, or invest in growth initiatives without external financing, materially strengthening financial resilience over the next several quarters.

Improved balance-sheet stability

Reduced leverage and a stronger equity base raise the firm's capacity to absorb shocks and pursue strategic moves. Higher ROE signals more efficient capital use. This structural improvement enhances financial flexibility and lowers refinancing risks, supporting sustainable operations and strategic optionality.

Negative Factors

Moderately high total liabilities

Despite reduced leverage, moderately high total liabilities remain a structural risk that can constrain capital allocation. Elevated liabilities increase fixed obligations and sensitivity to interest or economic shocks, limiting the company’s ability to quickly expand investments or absorb downside without impacting liquidity.

Negative EPS growth

Negative EPS growth despite revenue gains signals potential margin volatility, one-off charges, or capital structure shifts. Persistent EPS declines can undermine reinvestment capacity and investor confidence, and suggest earnings are more volatile than top-line improvement alone implies over the coming quarters.

Small workforce / scaling risk

A compact 66-person team can limit capacity to scale rapidly and concentrates operational risk. Growth could strain delivery, require sizable hiring, or create key-person dependencies. These structural constraints may slow enterprise-level contract wins and make sustaining rapid growth more challenging.

SecMark Consultancy Ltd. Business Overview & Revenue Model

Company Description

SecMark Consultancy Limited provides consulting, technology, and outsourcing services to financial market participants in the areas of compliance, operations, software development, risk management, and others. It also offers IT infra management, system audit and IT security, forensic audit, compliance assistance, law, litigation and arbitration, and HR services, as well as services to start a business. In addition, the company provides anti money laundering software applications for financial institutions; e-learning product suite; and back office solutions for broking and depository participant (DP), as well as operates compliancesutra.com, a solution to manage compliances, audits, and processes. It primarily serves stock and commodity brokers, DPs, stock exchanges, wealth managers, alternative investment funds, research analysts, insurance companies, insurance brokers, corporate agents, portfolio managers, investment advisors, NBFCs, etc. The company was incorporated in 2011 and is based in Mumbai, India. SecMark Consultancy Limited is a subsidiary of Secmark Holdings Private Limited.

How the Company Makes Money

SecMark Consultancy Ltd. generates revenue through multiple channels. Primarily, the company charges fees for its consulting services, which include hourly rates for project-based work and retainer agreements for ongoing support. Key revenue streams also include the sale of proprietary training materials and workshops aimed at enhancing cybersecurity awareness among employees. Additionally, SECMARK has established strategic partnerships with technology providers, allowing it to offer bundled services that include software solutions along with its consultancy. These partnerships not only enhance service offerings but also create additional revenue opportunities through referral fees and joint marketing initiatives.

SecMark Consultancy Ltd. Financial Statement Overview

Summary

Strong overall fundamentals supported by high Income Statement (85) and Cash Flow (82) scores, including improved margins, a turnaround to positive EBIT/net income, and a shift to positive free cash flow. Balance Sheet strength is solid (78) with reduced leverage, though moderately high liabilities warrant monitoring.

Income Statement

SecMark Consultancy Ltd. has demonstrated impressive income statement performance with significant revenue growth, particularly in the most recent year. The gross profit margin has improved substantially, indicating effective cost management. The company has also turned around from a negative EBIT and net income in previous years to positive figures, reflecting enhanced operational efficiency and profitability. The net profit margin is robust, but the company should continue to focus on maintaining stable margins amidst rapid growth.

Balance Sheet

The balance sheet of SecMark shows a solid equity foundation with a strong equity ratio, indicating good financial stability. The company has successfully reduced its debt-to-equity ratio over time, which is a positive sign of decreased leverage risk. Return on equity has improved significantly, demonstrating the company's ability to generate profits from its equity base. However, total liabilities are moderately high, which requires monitoring to ensure financial health is maintained.

Cash Flow

SecMark's cash flow statement reveals a significant positive shift in free cash flow, highlighting improved cash generation capabilities. The operating cash flow to net income ratio is strong, indicating efficient cash conversion from profit. The company has turned around its free cash flow position from negative to positive, showing effective cash management and a strong ability to cover capital expenditures. Continued focus on sustaining this positive cash flow trajectory will be key.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	359.36M	351.13M	245.92M	174.37M	145.42M	75.89M
Gross Profit	273.14M	272.32M	179.43M	99.41M	95.00M	44.89M
EBITDA	87.26M	102.08M	19.32M	-42.25M	47.20M	23.03M
Net Income	32.37M	42.94M	-24.31M	-52.16M	26.37M	15.73M
Balance Sheet
Total Assets	0.00	338.37M	313.13M	308.33M	271.84M	233.48M
Cash, Cash Equivalents and Short-Term Investments	164.75M	164.75M	108.06M	129.69M	100.32M	197.56K
Total Debt	0.00	65.57M	110.57M	101.56M	12.48M	8.84M
Total Liabilities	-205.11M	133.26M	153.07M	124.96M	36.87M	25.23M
Stockholders Equity	205.11M	205.11M	160.06M	182.80M	234.96M	208.25M
Cash Flow
Free Cash Flow	0.00	97.67M	-27.26M	-66.06M	-74.30M	2.44M
Operating Cash Flow	0.00	98.15M	41.39M	-46.61M	37.52M	2.98M
Investing Cash Flow	0.00	-50.41M	-62.65M	-12.31M	-41.02M	-3.77M
Financing Cash Flow	0.00	-47.73M	-914.00K	85.36M	3.49M	6.10M

SecMark Consultancy Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 115.50
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SECMARK, the sentiment is Positive. The current price of 115.5 is above the 20-day moving average (MA) of 106.43, above the 50-day MA of 110.00, and below the 200-day MA of 128.54, indicating a neutral trend. The MACD of 0.81 indicates Negative momentum. The RSI at 60.22 is Neutral, neither overbought nor oversold. The STOCH value of 57.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:SECMARK.

SecMark Consultancy Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SECMARK	73 Outperform	₹1.05B	62.55	―	―	28.58%	68.42%
INDBANK	71 Outperform	₹1.59B	22.62	―	―	-18.35%	-43.75%
HPIL	59 Neutral	₹1.45B	132.85	―	0.37%	42.23%	-50.43%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
HBSL	46 Neutral	₹438.97M	-5.19	―	1.36%	-143.39%	-166.54%

SecMark Consultancy Ltd. Corporate Events

SecMark Consultancy to Shut Trading Window Ahead of Q3 FY26 Results

SecMark Consultancy Limited has announced the closure of its trading window for designated persons and their immediate relatives from January 1, 2026 until 48 hours after the declaration of its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The move, undertaken in line with SEBI’s Prohibition of Insider Trading Regulations and the company’s internal code of conduct, underscores its adherence to governance norms aimed at preventing insider trading ahead of key financial disclosures, with the exact date of the board meeting to approve these results to be communicated to the exchanges in due course.