SMC Global Securities Limited — Investor Meet, 07-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

SMC Global Securities reported Q2 FY26 consolidated revenue of Rs. 440.3 Cr (+3.6% QoQ), with EBITDA at Rs. 84.4 Cr (19.2% margin) and PAT at Rs. 21.0 Cr (4.8% margin). Broking and NBFC segments faced moderation due to regulatory changes and softer trading volumes. Insurance broking was a strong growth driver, up 21% YoY to Rs. 162.5 Cr. Management highlighted industry consolidation but expects H2 to improve, aiming for full-year PAT similar to FY25. NBFC AUM dipped due to strategic product exits and tighter unsecured lending, with GNPA slightly up but secured. The company plans to reduce unsecured loan exposure further, leveraging its diversified model and digital presence to navigate challenges.