SMC Global Securities Ltd

- The company has raised fresh borrowings through NCDs in the current financial year: - NBFC raised about INR 25 crores of fresh NCDs. - Broking Entity raised about INR 150 crores of fresh NCDs. - This borrowing diversification is aimed at reducing reliance on bank borrowings and aligns with RBI's intent to reduce dependency on banks. - The company maintains a well-diversified borrowing mix with bank borrowings forming 85% of the mix in FY26 (up from 79% in FY25). - Debt-to-equity ratio stands at 1.53x consolidated level, with a strong capital adequacy ratio (CRAR) of 43.2% at NBFC. - No specific mention of new fundraising through equity in the transcript. - The overall approach indicates a cautious, diversified debt strategy without immediate plans for equity fundraising.

The transcript does not explicitly mention any specific current or future capex, capital investment, or strategic investment details. However, some relevant points include: - Investment in distribution capacity and technology infrastructure in the insurance broking segment to support upcoming reinsurance opportunities following the composite broker upgrade (Page 7). - Continued investment in technology and risk management to deliver healthy operating outcomes and support digital and technology platform scaling (Page 5, Page 7). - Focus on scaling digital platforms, in-house trading applications, and AI-led customer engagement tools in broking and distribution businesses (Page 5). - Integration of insurance and mutual funds capabilities into mobile app for cross-sell and increased digital promotion (Page 10). - No explicit mention of large capital expenditure or strategic investment commitments, indicating a focus on organic growth, technology, and distribution enhancement.

- The company expects approximately 15% growth in AUM during the next financial year (FY27), aiming for 15%-20% growth in AUM, driven by the transition towards secured products and new product lines. (Page 9, 13) - Insurance broking segment anticipates strong, double-digit growth, with around 15% growth expected next year, supported by both physical and digital selling, and contributions from the reinsurance segment. (Page 12, 13) - Disbursements in the NBFC segment are expected to increase above INR 800 crores from INR 614 crores currently, driven by focused secured products like micro-LAP, gold loan, and asset finance, despite a calibrated reduction in unsecured and large-ticket loans. (Page 12) - Stoxkart (broking platform) showed 150% revenue growth in FY26 and expects continued contribution to overall growth. (Page 9) - Cross-selling insurance products via broking and digital channels is a key growth driver moving forward. (Page 10)

- The company expects a 15%-20% growth in AUM in the NBFC segment in the upcoming year, with gradual growth resuming after a calibration phase (Page 9, 11). - In insurance broking, a 15% growth is anticipated over the next financial year, aided by reinsurance segment contribution and focus on both physical and digital selling (Page 13). - Disbursements in the financing business are expected to increase from INR 614 crores to over INR 800 crores next year (Page 12). - FY26 reported consolidated EPS was INR 4.87 (diluted), down from INR 13.92 in FY25 due mainly to capital base increase and deliberate calibration in financing (Page 6). - The company is focused on rebuilding return metrics and cost optimization going into FY27 (Page 7). - Fee-based businesses like broking and insurance are expected to provide stable, growing revenue streams offsetting pressures on financing profits (Page 6).

The provided transcript does not explicitly mention the current or expected order book or pending orders for SMC Global Securities Limited or its subsidiaries. However, some relevant points regarding business outlook and growth expectations include: - The Group targets 15%-20% growth in AUM for the NBFC segment in the next financial year. - Disbursement for NBFC products (excluding LAP and unsecured loans) grew with expectations to increase from INR 614 crores to above INR 800 crores. - Insurance broking expects continued strong double-digit growth, with reinsurance segment adding new revenue streams. - Broking client base grew to 13.39 lakh accounts, with digital adoption increasing. - SIP flow monthly sourcing is around INR 25.69 crores contributed by about 94,392 live SIPs. - Overall, the company is focusing on product mix recalibration, digital expansion, and securing assets for quality growth. No specific numerical data on order book or pending orders is detailed in the transcript.