Swastika Investmart Q1 FY25 Share Price & Earnings Call Analysis
- Market cap
- ₹241 Cr
- P/E
- 15.51
- ROE
- 10.47%
- PEG
- 0.55
- Price to sales
- 2.13
- Debt to equity
- 0.28
- 52W high / low
- ₹188 / ₹49.4
- Sales growth (5Y)
- 7.50%
- EBITDA margin
- 29.88%
- Net profit margin
- 11.82%
- Promoter holding
- 59.88%
- Sales (last year)
- ₹114 Cr
Incorporated in 1992, Swastika Investmart Ltd deals in Stock Broking, DP, Merchant Banking and Other Third Party Products Distribution Activities
Guidance scorecard · Q1 FY25 call
What Swastika Investm's management guided
and where it ranks in Capital Markets
RevenueQ1 FY25 call
20–40%- Swastika Investmart is targeting healthy and sustained growth over the next 10 years driven by technology, strong team, and investor trust.
- Revenue doubled recently from Rs. 20 crores (10 years ago) to Rs. 115 crores in FY24, with plans for further doubling supported by tech and sales enhancements.
- Broking and investment banking segments are both expected to grow robustly; SME IPO pipeline and merchant banking deal flow are strong.
- The in-house developed trading app and digital marketing are expected to double retail broking business.
- Focus on acquiring quality, long-term clients rather than just volume, enhancing brokerage yield.
- Margin Trading Facility (MTF) business and interest income are growing, contributing to higher margins and revenue sustainability.
2 more points from Swastika Investm's call on revenue
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MarginsQ1 FY25 call
Up 2%+See what Swastika Investm said on margins — free account, 30 seconds.
CapexQ1 FY25 call
Planned- Rs. 33 crores received through promoter group and strategic investors via warrant issuance; 25% amount already received.
- Funds primarily allocated for overall technology enhancement, general development, and margin funding.
- The company is actively investing in technology, including digital marketing, CRM systems, and trading app improvements.
- Investments are aimed at supporting business growth, doubling client base with current infrastructure, and sustaining healthy EBITDA margins.
2 more points from Swastika Investm's call on capex
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FundraisingQ1 FY25 call
See what Swastika Investm said on fundraising — free account, 30 seconds.
Order bookQ1 FY25 call
- Management highlighted a strong pipeline in investment banking, especially regarding SME IPOs with high investor demand (300-500 times oversubscription).
- Merchant banking fees-based income is expected to grow due to this robust IPO pipeline.
- Broking business growth is supported by technology and expanding client base, which will contribute to increased revenues.
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 Capital Markets
on management's own guidance
- Nippon Life India Asset Management LtdGood growth2
- BSEGood growth1
- Motilal Oswal Financial Services LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Capital Markets companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | BSE | 20–40% | Flat | ₹1.43L Cr | 50.6 |
| 2 | Nippon Life India Asset Management Ltd | 20–40% | Flat | ₹57,947 Cr | 35.4 |
| 3 | Motilal Oswal Financial Services Ltd | 20–40% | Flat | ₹56,798 Cr | 28.7 |
| 4 | 20–40% | Flat | ₹37,393 Cr | 82.4 | |
| 5 | 20–40% | Flat | ₹32,034 Cr | 29.6 | |
| 6 | 20–40% | Flat | ₹14,710 Cr | 41.2 |
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Pro shows every company guiding 40%+ revenue growth →Full Capital Markets rankingSwastika Investm announcements
All announcements →- Fundraise / allotmentMajor developmentSwastika Investmart approves unaudited quarter and half-year results ended 30 Sept 2026
Financials of Swastika Investm
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Swastika Investm
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 + | 22.43 | 22.08 | 28.07 | 27.49 | 36.54 | 38.52 | 40.42 | 34.16 | 27.48 | 26.33 | 27.94 | 28.08 | 27.30 |
| Expenses + | 19.84 | 18.45 | 22.53 | 22.23 | 27.83 | 27.89 | 28.16 | 23.37 | 25.71 | 20.45 | 21.47 | 19.93 | 20.00 |
| Operating Profit | 2.59 | 3.63 | 5.54 | 5.26 | 8.71 | 10.63 | 12.26 | 10.79 | 1.77 | 5.88 | 6.47 | 8.15 | 7.30 |
| OPM % | 11.55% | 16.44% | 19.74% | 19.13% | 23.84% | 27.60% | 30.33% | 31.59% | 6.44% | 22.33% | 23.16% | 29.02% | 26.74% |
| Other Income + | 0.13 | 0.02 | 0.48 | 0.00 | 0.06 | 0.04 | 0.03 | 0.03 | 0.05 | 0.52 | 0.07 | 0.03 | 0.02 |
| Interest | 1.04 | 0.93 | 1.11 | 1.36 | 2.39 | 1.88 | 2.21 | 2.19 | 1.68 | 1.50 | 1.59 | 2.71 | 2.96 |
| Depreciation | 0.30 | 0.29 | 0.29 | 0.31 | 0.32 | 0.29 | 0.30 | 0.31 | 0.30 | 0.25 | 0.22 | 0.24 | 0.23 |
| Profit before tax | 1.38 | 2.43 | 4.62 | 3.59 | 6.06 | 8.50 | 9.78 | 8.32 | -0.16 | 4.65 | 4.73 | 5.23 | 4.13 |
| Tax % | 28.99% | 29.22% | 30.74% | 13.37% | 29.87% | 26.24% | 26.18% | 26.56% | -275.00% | 29.46% | 28.75% | 26.77% | 27.85% |
| Net Profit + | 0.98 | 1.72 | 3.20 | 3.11 | 4.25 | 6.27 | 7.23 | 6.11 | 0.27 | 3.29 | 3.27 | 3.69 | 2.89 |
| EPS in Rs | 0.66 | 1.16 | 2.16 | 2.10 | 2.87 | 4.24 | 4.89 | 4.13 | 0.16 | 1.64 | 1.63 | 1.84 | 1.44 |
Financials of Swastika Investm
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 + | 30 | 32 | 40 | 42 | 45 | 53 | 77 | 83 | 88 | 115 | 141 | 110 |
| Expenses + | 22 | 28 | 31 | 36 | 32 | 45 | 59 | 66 | 77 | 91 | 105 | 82 |
| Operating Profit | 8 | 3 | 9 | 6 | 12 | 7 | 18 | 17 | 12 | 24 | 35 | 28 |
| OPM % | 25% | 10% | 22% | 15% | 28% | 14% | 23% | 20% | 13% | 21% | 25% | 25% |
| Other Income + | 0 | 0 | 4 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 1 |
| Interest | 2 | 3 | 3 | 2 | 5 | 5 | 3 | 3 | 3 | 6 | 8 | 9 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | -0 | 10 | 4 | 6 | 2 | 14 | 14 | 8 | 17 | 26 | 19 |
| Tax % | 33% | 18% | 30% | 42% | 25% | 59% | 20% | 26% | 26% | 27% | 25% | 28% |
| Net Profit + | 3 | -0 | 7 | 2 | 5 | 1 | 11 | 10 | 6 | 12 | 20 | 13 |
| EPS in Rs | 1.99 | -0.26 | 4.57 | 1.51 | 3.12 | 0.47 | 7.61 | 6.80 | 4.16 | 8.30 | 11.49 | 6.48 |
| Dividend Payout % | 10% | -76% | 4% | 13% | 6% | 43% | 5% | 6% | 10% | 5% | 5% | 9% |
Financials of Swastika Investm
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 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 |
| Reserves | 13 | 13 | 21 | 23 | 26 | 24 | 36 | 48 | 54 | 77 | 109 | 132 |
| Borrowings + | 5 | 11 | 27 | 41 | 48 | 41 | 25 | 14 | 15 | 14 | 5 | 14 |
| Other Liabilities + | 58 | 58 | 61 | 81 | 96 | 104 | 144 | 173 | 141 | 259 | 234 | 353 |
| Total Liabilities | 79 | 84 | 112 | 148 | 173 | 172 | 208 | 238 | 214 | 353 | 352 | 503 |
| Fixed Assets + | 6 | 6 | 6 | 6 | 8 | 8 | 8 | 4 | 4 | 5 | 4 | 6 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 6 | 7 | 6 | 9 | 8 | 2 | 4 | 1 | 1 | 6 | 8 | 8 |
| Other Assets + | 67 | 71 | 100 | 133 | 157 | 162 | 197 | 233 | 209 | 342 | 339 | 490 |
| Total Assets | 79 | 84 | 112 | 148 | 173 | 172 | 208 | 238 | 214 | 353 | 352 | 503 |
Financials of Swastika Investm
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 + | 3 | 5 | 6 | -36 | 0 | 24 | 3 | 1 | -20 | -22 | -20 | -14 |
| Cash from Investing Activity + | 1 | -2 | 3 | -0 | 0 | 2 | 7 | 18 | 10 | 11 | 20 | 6 |
| Cash from Financing Activity + | -2 | -3 | 9 | 21 | 2 | -12 | -18 | -13 | -1 | 9 | -5 | 12 |
| Net Cash Flow | 2 | 0 | 19 | -16 | 3 | 15 | -9 | 7 | -11 | -3 | -5 | 4 |
| Free Cash Flow | 2 | 3 | 6 | -37 | -2 | 24 | 2 | 4 | -21 | -23 | -21 | -15 |
| CFO/OP | 64% | 152% | 91% | -506% | 20% | 336% | 36% | 30% | -152% | -75% | -42% | -43% |
Financials of Swastika Investm
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 | 550 | 516 | 393 | 271 | 217 | 114 | 92 | 97 | 82 | 85 | 68 | 98 |
| Inventory Days | 82 | 155 | ||||||||||
| Days Payable | 29 | 21,359 | ||||||||||
| Cash Conversion Cycle | 550 | 516 | 446 | 271 | 217 | 114 | 92 | 97 | 82 | 85 | 68 | -21,106 |
| Working Capital Days | -125 | -163 | -320 | -299 | -446 | -490 | -400 | -470 | -377 | -599 | -461 | -1,040 |
| ROCE % | 24% | 10% | 32% | 10% | 16% | 10% | 26% | 25% | 16% | 27% | 33% | 20% |
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