DB (International) Stock Brokers Limited (DBSTOCKBRO) AI Stock Analysis

DB (International) Stock Brokers Limited

(NSE:DBSTOCKBRO)

Select Model

Rating:52Neutral

Price Target:INR 29.00▼(-2.03% Downside)

Action:reiterated

Date:10/24/26

The score is primarily held back by weak and recently negative free cash flow alongside inconsistent earnings quality, despite a conservatively financed balance sheet and a strong latest-year revenue rebound. Technical indicators also point to a bearish trend, and the valuation offers limited support given the high P/E and no provided dividend yield.

Positive Factors

Conservative Balance SheetVery low leverage gives DBSTOCKBRO resilience against financial stress and preserves flexibility to support operations without substantial debt servicing demands. Continued equity growth further strengthens the capital base, providing a durable foundation for its brokerage and capital-markets activities.

Negative Factors

Weak Recent Cash ConversionRecent negative free cash flow and modest operating cash flow relative to reported profit indicate that earnings are not converting reliably into cash. Persistent weak conversion could constrain reinvestment, reduce financial flexibility, and make future operating performance more dependent on working-capital movements.

DB (International) Stock Brokers Limited (DBSTOCKBRO) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 987.70M
Dividend Yield: ―
Average Volume (3M): 5,277
Price to Earnings (P/E): 40.3
Beta (1Y): 0.60
Revenue Growth: 2.35%
EPS Growth: -44.06%
Country: India
Employees: 74
Sector: General
Sector Strength: 55
Industry: Financial - Capital Markets

DB (International) Stock Brokers Limited Business Overview & Revenue Model

Company Description

DB (International) Stock Brokers Limited operates in India, providing stock brokerage and CDSL depository participant facilities. The company also extends a wide range of services to Non-Resident Indians (NRIs), which includes equity and derivative t...

How the Company Makes Money

DB (International) Stock Brokers Limited primarily makes money through fees and commissions earned from providing brokerage and related capital markets services. Key revenue streams typically include: (1) Brokerage commissions and transaction fees ch...

DB (International) Stock Brokers Limited Financial Statement Overview

Summary

Strong balance sheet with consistently low leverage supports resilience, and the latest year shows a sharp revenue rebound with solid reported margins. However, earnings quality/consistency is a concern due to volatile multi-year profitability patterns, and cash generation is weak with negative free cash flow in the last two annual periods and modest operating cash flow relative to net income.

Income Statement

63Positive

Balance Sheet

82Very Positive

Cash Flow

38Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	326.98M	276.72M	156.33M	130.49M	93.68M	262.41M
Gross Profit	121.62M	113.29M	-42.83M	-80.13M	54.87M	172.10M
EBITDA	46.19M	55.72M	98.90M	153.94M	100.48M	118.18M
Net Income	24.43M	31.14M	57.87M	90.48M	63.75M	86.37M
Balance Sheet
Total Assets	1.41B	1.16B	1.11B	1.30B	1.05B	970.90M
Cash, Cash Equivalents and Short-Term Investments	1.20B	956.11M	64.93M	89.39M	232.64M	166.05M
Total Debt	16.93M	20.10M	29.27M	40.21M	71.31M	23.64M
Total Liabilities	643.36M	402.88M	384.79M	633.86M	477.87M	463.53M
Stockholders Equity	770.57M	756.97M	720.23M	662.98M	572.02M	507.37M
Cash Flow
Free Cash Flow	0	-485.00K	-5.49M	-74.24M	111.17M	218.66M
Operating Cash Flow	0	9.59M	1.60M	-70.68M	137.61M	223.78M
Investing Cash Flow	0	-10.07M	-6.99M	-3.48M	-25.82M	-140.95M
Financing Cash Flow	0	-10.63M	-23.71M	-63.01M	45.95M	-1.56M

DB (International) Stock Brokers Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price29.60

Price Trends

50DMA30.17Negative

100DMA32.18Negative

200DMA29.38Negative

Market Momentum

MACD-0.45Positive

RSI43.36Neutral

STOCH46.46Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DBSTOCKBRO, the sentiment is Negative. The current price of 29.60 is below the 20-day moving average (MA) of 30.95, below the 50-day MA of 30.17, and above the 200-day MA of 29.38, indicating a bearish trend. The MACD of -0.45 indicates Positive momentum. The RSI at 43.36 is Neutral, neither overbought nor oversold. The STOCH value of 46.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DBSTOCKBRO.

DB (International) Stock Brokers Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:DBSTOCKBRO against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ANGELONE	79Outperform	INR 258.83B	22.26	―	2.28%	21.45%	46.53%
IN:ARIHANTCAP	67Neutral	INR 9.28B	22.74	―	0.59%	22.07%	0.35%
IN:GEOJITFSL	59Neutral	INR 18.05B	26.94	―	2.32%	2.10%	-43.37%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:CHOICEIN	54Neutral	INR 160.72B	61.81	―	―	28.51%	27.16%
IN:SMCGLOBAL	54Neutral	INR 18.99B	16.36	―	1.32%	17.97%	18.76%
IN:DBSTOCKBRO	52Neutral	INR 1.01B	40.31	―	―	2.35%	-44.06%

* General Sector Average

Performance Comparison

IN:DBSTOCKBRO and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:DBSTOCKBRO	DB (International) Stock Brokers Limited	29.00	3.71	14.67%
IN:ANGELONE	Angel One Limited	283.00	32.69	13.06%
IN:ARIHANTCAP	Arihant Capital Markets Limited	84.64	-16.23	-16.09%
IN:CHOICEIN	Choice International Limited	721.45	-107.80	-13.00%
IN:GEOJITFSL	Geojit Financial Services Ltd	64.66	-6.93	-9.68%
IN:SMCGLOBAL	SMC Global Securities Ltd. (India)	90.68	25.00	38.06%

DB (International) Stock Brokers Limited Corporate Events

DB (International) Stock Brokers to Close Trading Window Ahead of Q2 Results

Sep 25, 2026

DB (International) Stock Brokers Limited has announced the closure of its trading window for designated persons and their immediate relatives from October 01, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations. The restriction...

DB (International) Stock Brokers Board Clears Plan to Transfer Major Client Business

Sep 17, 2026

DB (International) Stock Brokers Limited’s board has approved a plan to transfer its major client business, covering trading, depository participant services, mutual funds and other financial products, to a prospective buyer. The move, which re...

DB (International) Stock Brokers sets September 29, 2026 virtual AGM to approve FY26 accounts and MD reappointment

Sep 5, 2026

DB (International) Stock Brokers Limited has scheduled its 34th Annual General Meeting for September 29, 2026, at 10:30 a.m., to be conducted via video conferencing and other audio-visual means. The AGM will consider adoption of the standalone and co...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 24, 2026

DB (International) Stock Brokers Limited AI Stock Analysis