Choice International Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹16,238 Cr
- P/E
- 71.24
- ROE
- 16.09%
- PEG
- 1.32
- Price to sales
- 13.59
- Debt to equity
- 0.54
- 52W high / low
- ₹850 / ₹584
- Sales growth (5Y)
- 45.31%
- EBITDA margin
- 35.28%
- Net profit margin
- 20.86%
- Promoter holding
- 53.66%
- Sales (last year)
- ₹1,194 Cr
Incorporated in 1993, Choice International Ltd provides services like Broking & Distribution, Investment Banking, Financial services, etc.[1]
Guidance scorecard · Q1 FY27 call
What Choice International Ltd's management guided
and where it ranks in Finance
Finance
RevenueQ1 FY27 call
40%+- Choice International expects steady growth in FY27 following a 34% YoY revenue increase in Q1 FY27.
- Real growth is anticipated from Q3 FY27 onwards driven by Rs. 900 crores capital infusion and IPPB partnership.
- A 50% CAGR in revenue and profit is targeted over the next couple of years due to these strategic developments.
- Broking business contributes around 60% of revenue, advisory 30-40%, and NBFC about 10%, with expected shifts maintaining a 50-40-10 ratio.
- The company plans to expand branches from ~210-220 to 300-350 by March, adding nearly 100 branches in six months.
- NH Securities partnership aims to boost institutional and global business, further driving revenue.
2 more points from Choice International Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Choice International Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Choice International recently secured a strategic partnership with NH Investment & Securities involving a Rs. 900 crores capital infusion into Choice Equity Broking, supporting growth across broking, distribution, MTF, and technology.
- The company plans to utilize the raised capital primarily for the development of the Margin Trading Fund (MTF) portfolio and to meet settlement fund requirements, which will drive increased interest income and brokerage revenue.
- Internal accruals are sufficient to fund expansion, but the NHIS partnership provides additional capital for accelerated growth.
- AMC business is in the setup phase, with plans to launch active mutual fund schemes by FY27-end, indicating future investments in product and distribution capabilities.
2 more points from Choice International Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Choice International Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- The consulting business has an order book of Rs. 777 crores across digital, tax, multilateral support initiatives, providing visibility over the next 2-3 years.
- Choice Consultancy Service Private Limited and Ayoleeza Consultants Private Limited secured government mandates aggregating approximately Rs. 191 crores across e-governance, infrastructure, project management, and financial consulting.
- Investment banking has completed one IPO in the quarter and currently has 30 mandates under execution.
- The overall pipeline in investment banking stands at over Rs. 6,766 crores.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Finance
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Finance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹2,742 Cr | 71.8 | |
| 2 | 40%+ | Up 2%+ | ₹464 Cr | 23.9 | |
| 3 | 40%+ | Up 0–2% | ₹961 Cr | 32.7 | |
| 4 | 40%+ | Flat | ₹23,820 Cr | 21.1 | |
| 5 | Choice Intl.This stock | 40%+ | Flat | ₹16,498 Cr | 72.4 |
| 6 | 40%+ | Flat | ₹15,549 Cr | — |
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Pro shows every company guiding 40%+ revenue growth →Full Finance rankingFinancials of Choice International Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Choice International Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 137 | 138 | 191 | 207 | 215 | 201 | 247 | 209 | 253 | 235 | 274 | 303 | 307 |
| Expenses + | 92 | 102 | 142 | 141 | 147 | 148 | 172 | 150 | 157 | 151 | 185 | 192 | 191 |
| Operating Profit | 45 | 36 | 49 | 67 | 67 | 53 | 76 | 60 | 96 | 83 | 89 | 112 | 116 |
| OPM % | 33% | 26% | 25% | 32% | 31% | 26% | 31% | 28% | 38% | 36% | 33% | 37% | 38% |
| Other Income + | 2 | 2 | 3 | 3 | 2 | 5 | 2 | 2 | 2 | 3 | 10 | 5 | 7 |
| Interest | 6 | 7 | 10 | 11 | 12 | 13 | 15 | 16 | 22 | 21 | 21 | 21 | 26 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 3 | 10 |
| Profit before tax | 40 | 29 | 40 | 56 | 55 | 43 | 61 | 43 | 74 | 63 | 74 | 92 | 87 |
| Tax % | 25% | 28% | 25% | 28% | 29% | 26% | 23% | 29% | 28% | 24% | 24% | 29% | 22% |
| Net Profit + | 30 | 21 | 30 | 40 | 39 | 32 | 46 | 31 | 54 | 48 | 56 | 66 | 68 |
| EPS in Rs | 1.52 | 1.08 | 1.48 | 1.98 | 1.93 | 1.48 | 2.31 | 1.47 | 2.59 | 2.19 | 2.69 | 2.56 | 2.71 |
Financials of Choice International Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 62 | 187 | 134 | 152 | 121 | 132 | 176 | 285 | 393 | 756 | 921 | 1,119 |
| Expenses + | 36 | 160 | 103 | 113 | 85 | 93 | 134 | 194 | 286 | 531 | 626 | 719 |
| Operating Profit | 26 | 28 | 30 | 39 | 36 | 39 | 41 | 92 | 107 | 225 | 295 | 400 |
| OPM % | 42% | 15% | 23% | 26% | 29% | 29% | 23% | 32% | 27% | 30% | 32% | 36% |
| Other Income + | -0 | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 2 | 3 | 1 | 25 |
| Interest | 17 | 19 | 19 | 21 | 20 | 17 | 15 | 15 | 22 | 41 | 66 | 89 |
| Depreciation | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 5 | 7 | 8 | 20 |
| Profit before tax | 6 | 7 | 10 | 16 | 12 | 18 | 23 | 74 | 82 | 181 | 221 | 316 |
| Tax % | 25% | 39% | 41% | 24% | 28% | 32% | 27% | 27% | 27% | 28% | 26% | 25% |
| Net Profit + | 5 | 4 | 6 | 12 | 6 | 12 | 17 | 54 | 60 | 131 | 163 | 238 |
| EPS in Rs | 1.02 | 0.86 | 1.26 | 1.22 | 0.59 | 1.24 | 1.17 | 2.69 | 3.02 | 6.56 | 8.15 | 9.77 |
| Dividend Payout % | 20% | 23% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Choice International Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 20 | 20 | 20 | 29 | 50 | 100 | 199 | 200 | 223 |
| Reserves | 50 | 53 | 70 | 146 | 154 | 193 | 234 | 360 | 378 | 432 | 828 | 1,449 |
| Borrowings + | 121 | 119 | 147 | 177 | 166 | 143 | 151 | 220 | 206 | 455 | 679 | 908 |
| Other Liabilities + | 46 | 49 | 60 | 84 | 133 | 146 | 240 | 346 | 424 | 718 | 909 | 987 |
| Total Liabilities | 227 | 232 | 287 | 428 | 473 | 502 | 655 | 976 | 1,107 | 1,805 | 2,615 | 3,566 |
| Fixed Assets + | 32 | 34 | 37 | 78 | 98 | 88 | 86 | 88 | 126 | 134 | 260 | 393 |
| CWIP | 0 | 0 | 1 | 4 | 0 | 0 | 0 | 0 | 5 | 7 | 5 | 10 |
| Investments | 22 | 22 | 26 | 47 | 22 | 20 | 7 | 11 | 11 | 23 | 59 | 178 |
| Other Assets + | 173 | 175 | 222 | 299 | 352 | 395 | 562 | 877 | 965 | 1,641 | 2,292 | 2,985 |
| Total Assets | 227 | 232 | 287 | 428 | 473 | 502 | 655 | 976 | 1,107 | 1,805 | 2,615 | 3,566 |
Financials of Choice International Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -22 | 28 | -20 | 4 | -36 | 26 | -45 | -34 | 138 | -153 | -294 | -267 |
| Cash from Investing Activity + | 13 | 5 | -11 | -22 | 54 | 13 | 15 | -123 | -48 | -13 | -161 | -277 |
| Cash from Financing Activity + | 6 | -22 | 21 | 39 | -28 | -15 | 23 | 152 | -29 | 224 | 449 | 600 |
| Net Cash Flow | -3 | 11 | -9 | 21 | -11 | 24 | -7 | -5 | 62 | 58 | -6 | 56 |
| Free Cash Flow | -23 | 23 | -25 | -1 | -69 | 34 | -46 | -38 | 91 | -186 | -451 | -343 |
| CFO/OP | -77% | 108% | -55% | 21% | -93% | 78% | -98% | -12% | 153% | -46% | -80% | -46% |
Financials of Choice International Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 572 | 169 | 313 | 281 | 201 | 251 | 158 | 104 | 107 | 91 | 109 | 142 |
| Inventory Days | 584 | 32 | 206 | 284 | ||||||||
| Days Payable | 1,984 | 164 | 136 | 160 | ||||||||
| Cash Conversion Cycle | -828 | 38 | 383 | 405 | 201 | 251 | 158 | 104 | 107 | 91 | 109 | 142 |
| Working Capital Days | -125 | -50 | -52 | -56 | 100 | 170 | 570 | 479 | 209 | 169 | 220 | 277 |
| ROCE % | 14% | 14% | 14% | 13% | 10% | 10% | 10% | 17% | 16% | 25% | 20% | 18% |
Guidance history
How Choice International Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q4 FY26 call → | 20–40% | Flat | None planned | None planned | Rising |
| Q3 FY26 call → | 20–40% | Flat | None planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
54 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −11.3% | 48% |
| Last 6 months | +9.9% | 67% |
| Last 3 months | −8.7% | 44% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Choice International Ltd: 0.4 × 48 + 0.4 × 67 + 0.2 × 44 = 54.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Choice International Ltd's management said in earlier quarters
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