SMC Global Securities

SMC Global reported a strong Q4 FY26 with consolidated operational income of ₹516.9 croreCurrent reported value: ₹516.9 crore. No comparable prior figure is available in the source record. (+22.6Current reported value: 22.6. No comparable prior figure is available in the source record.% YoY) and EBITDA of ₹89.7 croreCurrent reported value: ₹89.7 crore. No comparable prior figure is available in the source record. (+42.4% YoY), driven by robust performance in broking and insurance segments. PAT surged to ₹21.5 croreCurrent reported value: ₹21.5 crore. No comparable prior figure is available in the source record. from ₹4.1 crore a year ago. For the full year, revenue grew 5.7% to ₹1,876.9 crore, but EBITDA margin compressed to 20.1% due to higher finance costs and deliberate moderation in the NBFC business. The broking client base expanded to 30.39 lakh accountsCurrent 30.39 lakh accounts. Reported change: +23% YoY., and insurance revenue grew 17.1% YoY. Management guided for 15-20% AUM growth in NBFC and 15% growth in insurance broking in FY27. Key risk: elevated GNPA of 3% in NBFC and potential impact from RBI's circular on proprietary trading leverage.