SecMark Consultancy Ltd. (SECMARK) AI Stock Analysis

• Market Cap: ₹1.13B
• Dividend Yield: N/A
• Average Volume (3M): 271.00
• Price to Earnings (P/E): ―
• Beta (1Y): 1.12
• 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): 4.35
• Price to Sales (P/S): 2.54
• P/FCF Ratio: 9.13
• 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: ₹120.00 ▲(3.90% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is driven primarily by strong financial performance (profitability and free-cash-flow improvement alongside solid balance sheet quality) and supportive bullish technicals. This is tempered by a stretched valuation (high P/E), which increases sensitivity to any growth or margin slowdown.

Positive Factors

Sustained Revenue Growth

Steady ~19.5% top-line growth indicates durable demand expansion and successful commercial execution. Over a 2–6 month horizon this supports scalable revenue streams, aids planning for capacity investment, and reduces reliance on one-time gains while underpinning longer-term margin and cash-flow improvements.

Improved Cash Generation

A sustained shift to positive free cash flow and strong operating cash to net income conversion enhances financial resilience. This durable improvement lowers reliance on external financing, supports reinvestment and dividend potential, and increases flexibility to fund growth or weather downturns.

Profitability Turnaround & Margin Strength

A structural move from negative to positive EBIT and improved gross margins shows operational fixes and pricing or cost advantages. Sustained margins increase free cash flow potential, validate the business model, and reduce sensitivity to volume swings over the medium term.

Negative Factors

Moderately High Liabilities

Persistently elevated liabilities constrain financial flexibility and raise refinancing and interest-rate exposure. Even with improving debt ratios, higher absolute obligations can limit capital allocation choices, increase vulnerability to revenue shocks, and slow strategic investments over several quarters.

Negative EPS Trend

Declining EPS despite revenue gains suggests margins or per-share economics remain under pressure from costs, dilution, or one-off items. If persistent, negative EPS growth can weaken equity returns, limit reinvestment from earnings, and signal operational or capital-structure issues over the medium term.

Limited Scale / Key-person Risk

A small employee base points to concentrated operational capacity and potential key-person dependence. This can limit the pace of scaling, make service delivery sensitive to turnover, and increase execution risk for larger contracts or rapid expansion initiatives over the coming months.

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

null

SecMark Consultancy Ltd. Financial Statement Overview

Summary

Strong financials overall, supported by high Income Statement (85) and Cash Flow (82) scores and a solid Balance Sheet (78). Key positives include sharp revenue growth, improved margins, a turnaround to positive EBIT/net income, and a notable shift to positive free cash flow with strong cash conversion. Main watch item is moderately high liabilities despite improving leverage.

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: Negative
• Last Price: 115.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• 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 Negative. The current price of 115.5 is above the 20-day moving average (MA) of 113.00, above the 50-day MA of 109.13, and below the 200-day MA of 126.22, indicating a bearish trend. The MACD of -0.73 indicates Positive momentum. The RSI at 47.66 is Neutral, neither overbought nor oversold. The STOCH value of 29.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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	₹1.13B	-15.68	―	―	28.58%	68.42%
INDBANK	71 Outperform	₹1.38B	20.15	―	―	-18.35%	-43.75%
HPIL	59 Neutral	₹1.28B	87.13	―	0.37%	42.23%	-50.43%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
HBSL	46 Neutral	₹346.61M	-3.44	―	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.