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Swing Capital

SMC Global Securities Ltd

NSE: SMCGLOBAL BSE: 543263Finance

Incorporated in 1994, SMC Global Securities Ltd offers financial services, with operations spanning across Broking, Distribution & Trading, Financing, and also Insurance Broking, supported by their subsidiary companies

₹63.8
52W: ₹54.4 — ₹94.9
PE 16.4 · Book ₹48.6 · +31% vs book
Market Cap₹1,335 Cr
Stock P/E16.4Price to Earnings
ROCE12.5%Return on Capital
ROE8.21%Return on Equity
Div. Yield1.87%Face Value ₹2

Strengths

  • +Company has been maintaining a healthy dividend payout of 34.5%

Weaknesses

  • −Company has low interest coverage ratio.
  • −Company has a low return on equity of 12.0% over last 3 years.
  • −Company has high debtors of 245 days.

Shareholding Pattern

Promoters66.72%
FIIs2.4%
DIIs0.01%
Public30.88%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters67.27%67.28%▲0.067.29%▲0.067.3%▲0.067.3%67.51%▲0.266.77%▼0.766.72%▼0.0
FIIs1.51%2.42%▲0.92.75%▲0.32.65%▼0.12.55%▼0.12.41%▼0.12.94%▲0.52.4%▼0.5
DIIs0%0%0.01%▲0.00.02%▲0.00.03%▲0.00.05%▲0.00.04%▼0.00.01%▼0.0
Public31.22%30.28%▼0.929.95%▼0.330.02%▲0.130.11%▲0.130.03%▼0.130.25%▲0.230.88%▲0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales216250247255223199246217256250
Expenses145163167170166164184169180184
Operating Profit71878185573562487666
OPM %33%35%33%33%26%17%25%22%30%26%
Net Profit353946351692363121
EPS ₹1.661.882.21.670.740.411.090.31.50.99

AI Insights

Revenue Trend

Mar 2026 revenue at ₹968Cr, up 1.8% YoY. OPM at 26%.

Debt Position

Borrowings at ₹1,309Cr. Debt-to-equity ratio: 1.34x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹78Cr (80% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.01% (+0.01pp change). FIIs: 2.4% (+1.27pp change). Promoters hold 66.72%.

Margin & Efficiency

ROCE improving from 8% (Mar 2015) to 12% (Mar 2026). Working capital days: -464.

Valuation

PE 16.4x with 12.5% ROCE. Price is 31% above book value of ₹48.6. Dividend yield: 1.87%.

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