SMC Global Securities Limited — Investor Meet, 16-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

SMC Global Securities reported Q4 revenue of Rs. 421.5 Cr, EBITDA at Rs. 63 Cr (14.9% margin), and PAT of Rs. 4.1 Cr (1% margin). Full-year revenue rose 8.4% YoY to Rs. 1775.7 Cr, with EBITDA and PAT stable. Broking grew 8.6% with 1 lakh+ new Demat accounts; mutual fund AUM rose ~10%. NBFC AUM was Rs. 1291 Cr, GNPA at 3.6%, expected to improve with 20% growth guidance. Insurance broking revenue gained 7.9%, crossing 10 lakh policies. Management is confident on recovery, driven by pan-India reach and tech investments, with improving credit costs and rising secured loans to 75%. Analysts focused on NBFC asset quality and F&O regulatory impact; outlook remains positive on regulatory easing and retail participation.