SMC Global Securities Ltd. (India) (SMCGLOBAL) AI Stock Analysis

• Market Cap: ₹14.04B
• Dividend Yield: 1.81%
• Average Volume (3M): 5.64K
• Price to Earnings (P/E): 14.4
• Beta (1Y): 0.86
• Revenue Growth: -5.03%
• EPS Growth: -54.73%
• Country: IN
• Employees: 2,767
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 2.84
• Shares Outstanding: 104,700,000
• 10 Day Avg. Volume: 4,652
• 30 Day Avg. Volume: 5,641
• PEG Ratio: -0.35
• Price to Book (P/B): 0.92
• Price to Sales (P/S): 0.63
• P/FCF Ratio: -2.51
• 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: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: ₹148.00 ▲(11.95% Upside)

The overall stock score for SMC Global Securities Ltd. is primarily influenced by its strong financial performance, despite cash flow challenges. The technical analysis suggests bearish momentum, which slightly dampens the score. Valuation metrics are reasonable, supporting a moderate investment outlook.

SMC Global Securities Ltd. (India) Business Overview & Revenue Model

Company Description

SMC Global Securities Limited, together with its subsidiaries, provides various financial services in India and internationally. The company operates through three segments: Broking, Distribution, and Trading; Insurance Broking Services; and Financing Services. The Broking, Distribution, and Trading segment engages in the brokerage on dealing in shares, commodities, currencies, derivatives, and other securities; provision of clearing and depositary services; portfolio and wealth management; and mortgage and loan advisory, real estate broking, and investment banking services, as well as distribution of third party financial products. The Insurance Broking Services segment provides life and non-life insurance products. The Financing Services segment offers loans. The company also offers online trading and real estate advisory services. SMC Global Securities Limited was founded in 1990 and is based in New Delhi, India.

How the Company Makes Money

SMC Global Securities Ltd. generates revenue through multiple streams. Primarily, the company earns brokerage fees on trades executed by its clients in equity, commodities, and currency markets. Additionally, it offers advisory services and portfolio management, charging clients for personalized investment strategies and management fees based on assets under management. The company also generates income from its online trading platform through subscription fees and other value-added services. Significant partnerships with financial institutions and technology providers enhance its offerings and client reach, further contributing to its revenue. Furthermore, SMCGLOBAL may engage in proprietary trading activities, which can also serve as a source of income.

SMC Global Securities Ltd. (India) Financial Statement Overview

Summary

SMC Global Securities Ltd. demonstrates strong revenue growth and operational efficiency, with a solid balance sheet. However, cash flow management issues, including negative free cash flow and operational cash flow deficits, pose challenges to long-term liquidity.

Income Statement

The income statement shows strong revenue growth, with a consistent increase in total revenue from 2020 to 2025. The gross profit margin has been healthy, indicating efficient cost management. However, net profit margin has seen fluctuations, with a recent decline due to increased expenses impacting net income. The EBIT and EBITDA margins are solid, showcasing good operational efficiency.

Balance Sheet

The balance sheet reflects a stable financial position with increasing total assets and stockholders' equity over the years. The debt-to-equity ratio remains moderate, suggesting balanced leverage. However, there is a concern with the relatively high total liabilities. The equity ratio is decent, indicating a solid equity base.

Cash Flow

Cash flow analysis reveals challenges, with negative free cash flow in recent periods largely due to high capital expenditures and operating cash flow deficits. The operating cash flow to net income ratio is negative, highlighting potential liquidity management issues. While there have been periods of cash flow growth, sustainability remains a concern.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	17.15B	17.86B	16.38B	12.19B	10.54B	8.99B
Gross Profit	5.29B	15.67B	3.45B	5.73B	10.54B	4.14B
EBITDA	3.55B	2.42B	3.78B	2.41B	2.74B	1.81B
Net Income	1.22B	1.46B	1.87B	1.20B	1.74B	1.05B
Balance Sheet
Total Assets	0.00	49.21B	47.47B	33.07B	29.42B	23.87B
Cash, Cash Equivalents and Short-Term Investments	0.00	24.02B	25.63B	9.96B	8.05B	10.97B
Total Debt	0.00	16.95B	14.67B	9.61B	4.97B	4.92B
Total Liabilities	-12.20B	37.01B	36.49B	23.72B	20.15B	16.13B
Stockholders Equity	12.20B	12.17B	10.96B	9.33B	9.26B	7.73B
Cash Flow
Free Cash Flow	0.00	-4.47B	-2.23B	447.81M	1.30B	-4.02B
Operating Cash Flow	0.00	235.37M	-1.93B	771.48M	1.94B	-3.90B
Investing Cash Flow	0.00	-1.99B	-286.65M	-310.07M	-625.01M	-115.96M
Financing Cash Flow	0.00	1.86B	3.16B	2.31B	-292.16M	2.11B

SMC Global Securities Ltd. (India) Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 132.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SMCGLOBAL, the sentiment is Negative. The current price of 132.2 is below the 20-day moving average (MA) of 135.85, below the 50-day MA of 136.95, and above the 200-day MA of 127.94, indicating a neutral trend. The MACD of -1.50 indicates Positive momentum. The RSI at 39.40 is Neutral, neither overbought nor oversold. The STOCH value of 26.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SMCGLOBAL.

SMC Global Securities Ltd. (India) Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BIRLAMONEY	72 Outperform	₹9.07B	16.01	―	―	-6.37%	-24.10%
SUNDARMHLD	69 Neutral	₹10.74B	33.12	―	0.85%	61.59%	-17.60%
SMCGLOBAL	69 Neutral	₹14.04B	14.36	―	1.81%	-5.03%	-54.73%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CSLFINANCE	64 Neutral	₹6.07B	7.99	―	1.15%	21.83%	7.57%
ESAFSFB	45 Neutral	₹14.16B	―	―	2.55%	-4.34%	-285.53%

SMC Global Securities Ltd. (India) Corporate Events

SMC Global Securities Publishes Q2 2025 Financial Results

SMC Global Securities Ltd. announced the publication of its un-audited financial results for the quarter and half-year ending September 30, 2025. The results were published in prominent newspapers, Financial Express and Jansatta, and are also available on the company’s website. This announcement is part of the company’s regulatory compliance with the Securities and Exchange Board of India’s listing obligations. The release of these financial results is crucial for stakeholders as it provides insights into the company’s financial health and operational performance for the specified period.

SMC Global Securities Allots Over 1.3 Million Non-Convertible Debentures

SMC Global Securities Ltd. announced the successful allotment of 13,38,586 secured, rated, listed, redeemable, non-convertible debentures, each with a face value of Rs. 1,000, amounting to a significant financial move within the industry. This issuance, which includes a green shoe option, underscores the company’s strategic efforts to strengthen its financial position and expand its market reach, potentially impacting stakeholders positively by enhancing liquidity and investment opportunities.

SMC Global Securities Allots Over 1.3 Million Non-Convertible Debentures

SMC Global Securities Ltd. has announced the successful allotment of 1,338,586 secured, rated, listed, redeemable, non-convertible debentures, each with a face value of Rs. 1,000. This allotment is part of a public issue aimed at raising Rs. 15,000 lakh, including a green shoe option. The move is expected to enhance the company’s financial stability and strengthen its market position, offering stakeholders a secure investment opportunity.

SMC Global Securities Ltd. Schedules Q2 FY2025-26 Earnings Call

SMC Global Securities Ltd. has announced an upcoming earnings conference call scheduled for October 31, 2025, to discuss its unaudited financial results for the second quarter and half-year ending September 30, 2025. This call, which will include key members of the company’s management team, is expected to provide insights into the company’s financial performance and strategic direction, potentially impacting stakeholder perceptions and market positioning.

SMC Global Securities Advances Debenture Issue Amid Strong Investor Interest

SMC Global Securities Ltd. announced the preponement of its public issuance of secured, rated, listed, redeemable, non-convertible debentures due to strong investor interest and early receipt of necessary approvals. The revised issue opening and closing dates are set for October 16, 2025, and October 24, 2025, respectively. This strategic move is expected to enhance the company’s market positioning by capitalizing on favorable market conditions and meeting investor demand efficiently.

SMC Global Securities Launches ₹15,000 Lakh NCD Public Issue

SMC Global Securities Ltd. has announced the public issue of secured, rated, listed, redeemable, non-convertible debentures (NCDs) with a face value of ₹1,000 each. The issue aims to raise up to ₹7,500 lakh, with an option to retain oversubscription up to ₹7,500 lakh, totaling ₹15,000 lakh. The NCDs have been rated ‘ICRA A Stable’ by ICRA Limited, indicating an adequate degree of safety regarding timely servicing of financial obligations. The debentures are proposed to be listed on the BSE, enhancing the company’s capital structure and providing investors with a new investment opportunity.

SMC Global Securities Announces Trading Window Closure

SMC Global Securities Ltd. has announced the closure of its trading window in compliance with SEBI’s insider trading regulations. This closure will be effective from October 1, 2025, until 48 hours after the announcement of the company’s unaudited financial results for the quarter and half-year ending September 30, 2025. This move is part of the company’s adherence to regulatory requirements, ensuring transparency and fairness in its trading practices.

SMC Global Securities Penalized by NSE for Trading Irregularities

SMC Global Securities Ltd. has been penalized ₹21,30,878 by the National Stock Exchange (NSE) for issues related to trading activities in the equity derivatives segment. The penalty, linked to reversal trades by clients between April and July 2023, is operational and does not affect the company’s financial stability or client services. SMC Global has enhanced its internal monitoring systems to ensure compliance and safeguard stakeholder interests.

SMC Global Securities Fined by NSE for Trading Discrepancies

SMC Global Securities Ltd. has been fined ₹21,30,878 by the National Stock Exchange (NSE) due to discrepancies in trading activities within the equity derivatives segment during April to July 2023. Despite the penalty, the company assures that its financial stability and client services remain unaffected, and it has enhanced its internal monitoring systems to ensure compliance and safeguard stakeholder interests.