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

SMC Global Securities Ltd. (India)

(NSE:SMCGLOBAL)

Select Model

Rating:61Neutral

Price Target:INR 96.00▲(5.87% Upside)

Action:reiterated

Date:10/06/26

The score is primarily held back by financial performance: rising leverage, volatile cash generation, and recent margin/earnings pressure. Technicals are supportive due to a strong uptrend, but elevated RSI signals a stretched move. Valuation is reasonable but not compelling enough to offset the financial risk signals.

Positive Factors

Revenue GrowthRevenue growth has been steady across the period, including an approximately 27% FY2026 increase, indicating continued expansion in the company's capital-markets activity. A growing revenue base can support operating investment and broaden earnings capacity, provided profitability pressure does not persist.

Negative Factors

Higher LeverageThe sharp increase in debt-to-equity indicates a more leveraged capital structure, which can reduce financial flexibility for a capital-markets business. Higher leverage may constrain investment and increase sensitivity to tighter funding conditions or weaker market activity over the next several quarters.

SMC Global Securities Ltd. (India) (SMCGLOBAL) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 19.01B
Dividend Yield: 1.32%
Average Volume (3M): 254.96K
Price to Earnings (P/E): 16.4
Beta (1Y): 1.04
Revenue Growth: 17.97%
EPS Growth: 18.76%
Country: India
Employees: 2,767
Sector: General
Sector Strength: 55
Industry: Financial - Capital Markets

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

Company Description

SMC Global Securities Ltd., together with its associated firms, delivers a comprehensive suite of financial services, operating both domestically in India and internationally. The company's business activities are structured across three primary divi...

How the Company Makes Money

SMC Global Securities Ltd. primarily makes money through fees and commissions earned by facilitating client transactions and distributing financial products. Key revenue streams typically include: (1) Brokerage/transaction income: commissions and fee...

SMC Global Securities Ltd. (India) Financial Statement Overview

Summary

Income statement strength is tempered by recent profitability pressure (FY2026 net income down despite higher revenue). Balance sheet risk has risen due to higher leverage, and cash flows have been highly volatile despite a strong FY2026 rebound.

Income Statement

72Positive

Balance Sheet

58Neutral

Cash Flow

44Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	19.73B	18.83B	14.95B	14.26B	10.73B	9.91B
Gross Profit	6.93B	6.38B	2.89B	3.52B	2.48B	2.62B
EBITDA	1.77B	1.63B	4.19B	4.22B	2.65B	2.93B
Net Income	1.09B	1.02B	1.46B	1.87B	1.20B	1.74B
Balance Sheet
Total Assets	0	57.44B	49.21B	47.48B	33.07B	29.42B
Cash, Cash Equivalents and Short-Term Investments	0	26.15B	24.02B	25.36B	9.96B	8.05B
Total Debt	0	20.36B	16.95B	14.67B	9.44B	4.97B
Total Liabilities	-13.06B	44.38B	37.01B	36.50B	23.72B	20.15B
Stockholders Equity	13.06B	13.04B	12.17B	10.96B	9.33B	9.26B
Cash Flow
Free Cash Flow	-2.27B	4.72B	-54.99M	-2.23B	447.81M	1.30B
Operating Cash Flow	-2.12B	5.17B	235.37M	-1.93B	771.48M	1.94B
Investing Cash Flow	-145.68M	448.51M	-268.12M	-286.65M	-310.07M	-625.01M
Financing Cash Flow	1.87B	2.82B	244.55M	3.16B	2.31B	-998.55M

SMC Global Securities Ltd. (India) Technical Analysis

Technical Analysis SentimentNeutral

Last Price90.68

Price Trends

50DMA91.76Negative

100DMA83.74Positive

200DMA76.62Positive

Market Momentum

MACD-0.36Positive

RSI41.27Neutral

STOCH8.48Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SMCGLOBAL, the sentiment is Neutral. The current price of 90.68 is below the 20-day moving average (MA) of 104.60, below the 50-day MA of 91.76, and above the 200-day MA of 76.62, indicating a neutral trend. The MACD of -0.36 indicates Positive momentum. The RSI at 41.27 is Neutral, neither overbought nor oversold. The STOCH value of 8.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SMCGLOBAL.

SMC Global Securities Ltd. (India) Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:SMCGLOBAL 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:IIFLCAPS	69Neutral	INR 109.58B	17.74	―	0.86%	7.60%	3.87%
IN:5PAISA	65Neutral	INR 10.12B	28.05	―	―	8.94%	-23.92%
IN:SMCGLOBAL	61Neutral	INR 18.99B	16.36	―	1.32%	17.97%	18.76%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:MOTILALOFS	55Neutral	INR 564.99B	21.02	―	0.64%	44.44%	32.75%
IN:CHOICEIN	54Neutral	INR 160.72B	61.81	―	―	28.51%	27.16%

* General Sector Average

Performance Comparison

IN:SMCGLOBAL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:SMCGLOBAL	SMC Global Securities Ltd. (India)	90.68	25.00	38.06%
IN:5PAISA	5paisa Capital Ltd.	323.90	12.35	3.96%
IN:ANGELONE	Angel One Limited	283.00	32.69	13.06%
IN:CHOICEIN	Choice International Limited	721.45	-107.80	-13.00%
IN:IIFLCAPS	IIFL Capital Services Ltd	347.50	12.52	3.74%
IN:MOTILALOFS	Motilal Oswal Financial Services Limited	937.00	-64.37	-6.43%

SMC Global Securities Ltd. (India) Corporate Events

SMC Global Securities schedules Q2 FY26 earnings call with investors and analysts

Oct 22, 2026

SMC Global Securities Ltd. has scheduled an earnings conference call with investors and analysts on 27 October 2026 at 5:00 p.m. IST to discuss its unaudited financial results and operational performance for the quarter ended 30 September 2026. Senio...

SMC Global Securities Advances Closure of Rs 150 Crore NCD Issue

Oct 8, 2026

SMC Global Securities has announced that its Non-Convertible Debenture Committee approved the early closure of its public issue of secured, rated, listed, redeemable non-convertible debentures, which had a base issue size of Rs. 7,500 lakh with an eq...

SMC Global Securities Files Draft Prospectus for Rs 150 Crore NCD Public Issue

Sep 15, 2026

SMC Global Securities Ltd., a listed Indian financial services and securities firm, participates actively in the domestic capital markets with equity and multiple debenture series traded on BSE and NSE. The company leverages public issues of non-conv...

SMC Global Subsidiary Settles SEBI Case Over NSEL Trades

Sep 12, 2026

SMC Global Securities Ltd. disclosed that its wholly owned subsidiary Pulin Comtrade Limited, formerly SMC Comtrade Limited, has received a settlement order from the Securities and Exchange Board of India. The order arises from regulatory proceedings...

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 06, 2026

SMC Global Securities Ltd. (India) AI Stock Analysis