SecMark Consultancy Ltd. (SECMARK) AI Stock Analysis

• Market Cap: ₹1.12B
• 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

Revenue Growth & Margin Improvement

Consistent ~19% revenue growth combined with materially improved gross margins and a turnaround to positive EBIT/net income indicate durable demand and scalable delivery. Sustained margin expansion strengthens cash flow and funds reinvestment or strategic initiatives over months.

Free Cash Flow Turnaround

A shift from negative to positive free cash flow and strong operating cash conversion demonstrates the business now generates recurring, usable cash. This underpins sustainable investment, debt service and resilience to shocks without dependence on external financing.

Stronger Balance Sheet & Lower Leverage

Declining leverage, a strong equity base and rising ROE reduce solvency and refinancing risk, giving management durable financial flexibility. Improved balance sheet quality supports strategic options like M&A, hiring or absorbing temporary revenue setbacks.

Negative Factors

Moderately High Total Liabilities

Despite improving leverage, moderately high total liabilities remain a structural risk. If revenue or cash generation weakens, liabilities could constrain capital allocation, raise refinancing needs, and limit strategic moves over the medium term.

Negative EPS Growth Trend

An EPS decline of ~11.7% signals per-share profitability volatility or one-off impacts. Even with improving net income and margins, negative EPS growth suggests earnings per share are not yet consistently recovering and could weigh on long-term shareholder returns.

Small Scale & Concentration Risk

A workforce of 66 reflects limited scale for a consulting firm, raising capacity and client-concentration risks. Small size increases sensitivity to key-person departures and may constrain the company's ability to service large engagements or scale rapidly over several 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 112.81, above the 50-day MA of 109.72, and below the 200-day MA of 126.88, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 47.59 is Neutral, neither overbought nor oversold. The STOCH value of 29.83 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	₹1.12B	-15.68	―	―	28.58%	68.42%
INDBANK	71 Outperform	₹1.39B	20.15	―	―	-18.35%	-43.75%
HPIL	59 Neutral	₹1.30B	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	₹348.75M	-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.