SMC Global Securities Ltd. (SMCGLOBAL) — Tipsheet

SMC Global Q1 profit up 23%, board clears ₹150 cr NCD issue

Tipsheet Editorial — Sun, 26 Jul 2026 22:47:26 GMT

Net profit hit ₹36.74 cr and the debt offering, about 9.5% of market cap, signals plans to expand lending and broking.

What’s new

Q1 net profit rose 23% to ₹36.74 crore.
Board approved a public issue of secured NCDs up to ₹150 crore with a greenshoe.
The issue size equals roughly 9.5% of SMC Global's ₹1,513 crore market cap.

Why it matters

The 23% profit growth shows steady momentum in a competitive broking field. The ₹150 crore NCD issue, though modest relative to market cap, is a public offering that will add to debt (current D/E 1.53) and fund expansion. It gives investors a clear view of the company's capital strategy and near-term growth plans.

What we’re watching

Terms of the NCD issue: coupon, tenure, and credit rating.
Utilisation of proceeds — whether it flows to lending book or working capital.
Impact on debt/equity ratio and ROE (currently 7.8%).

The full read

SMC Global Securities posted a 23% rise in Q1 net profit to ₹36.74 crore from ₹29.95 crore a year ago. A solid start. The board also cleared a public issue of secured, rated, non-convertible debentures for up to ₹150 crore with a greenshoe option. The size is material: about 9.5% of the ₹1,513 crore market cap, signalling management's intent to expand lending and broking. SMC Global's trailing debt/equity is 1.53 and ROE 7.8%, so the fresh debt will increase debt but is not outsized. The profit growth and the fundraise together suggest confidence in demand for brokerage and credit products. The next test: the coupon and tenure of the NCDs, and whether utilisation follows the stated intent.

Primary source: BSE · NSE

SMC Global Q1 profit edges up, board approves ₹75 cr NCD issue

Tipsheet Editorial — Sun, 26 Jul 2026 21:41:40 GMT

Standalone net profit rose to ₹25.12 crore from ₹22.83 crore a year ago. The board also cleared a debenture issue that could double to ₹150 crore with oversubscription.

What’s new

Standalone net profit ₹25.12 cr vs ₹22.83 cr YoY.
Board approved NCD issue of up to ₹75 cr, with greenshoe to ₹150 cr.
Company is a serial NCD issuer; this is incremental funding.

Why it matters

The 10% profit growth is steady but unremarkable for a brokerage with trailing revenue growth of 22.6%. The NCD issue, while larger with greenshoe, fits a pattern of regular debt raising. No strategic shift.

What we’re watching

Whether the NCD issue gets fully subscribed; terms decided by committee.
Any update on brokerage volumes or margin income in coming quarters.
Debt/equity ratio of 1.53; further issuance could increase debt levels.

The full read

SMC Global's Q1 standalone profit of ₹25.12 crore is up from ₹22.83 crore a year earlier. Steady growth for a brokerage with trailing revenue expansion of 22.6%. The board also cleared a public NCD issue of up to ₹75 crore, with a greenshoe that could double the size to ₹150 crore. The company is a serial issuer of similar debentures, so this is business-as-usual funding, not a strategic pivot. At a P/E of 14.8 and debt/equity of 1.53, the stock trades at a discount to some peers. The next test is whether the NCD terms attract sufficient demand. The market cap of ₹1,513 crore means the issue, even at its upper limit, represents just 10% of equity value. Modest in scale.

Primary source: BSE · NSE

SMC Global board approves ₹150 cr NCD issue, Q1 profit jumps 23%

Tipsheet Editorial — Sun, 26 Jul 2026 21:40:08 GMT

Board approves public NCD issue with base size ₹75 cr and green shoe of ₹75 cr. Q1 consolidated net profit rises to ₹36.74 cr from ₹29.95 cr YoY.

What’s new

Board okays public NCD issue of up to ₹150 cr, base size ₹75 cr with green shoe option
Secured, rated, listed debentures; interest rates and terms to be decided later
Q1 consolidated net profit rises to ₹36.74 cr from ₹29.95 cr YoY, up 23%

Why it matters

At ₹150 cr, the NCD issue represents about 8% of FY26 revenue and 9.5% of market cap. For a financial services firm, debt raises are routine, but the size is notable. The debentures are secured and listed, offering transparency. The Q1 profit jump of 23% shows solid operating momentum, though backward-looking.

What we’re watching

Final interest rate and terms of the NCD – likely in the range of 9-11%
Use of proceeds: expected to support the financing business
Market response: Q1 results are out, NCD supply may pressure liquidity

The full read

SMC Global's board has approved a public NCD issue to raise up to ₹150 crore, with a base size of ₹75 crore and a green shoe option of another ₹75 crore. The debentures will be secured, rated, and listed. The size is material, roughly 8% of FY26 revenue and 9.5% of market cap, but routine for a financial services firm that regularly uses debt to fund its financing business. Alongside, the company reported Q1 consolidated net profit of ₹36.74 crore, up 23% from the year-ago ₹29.95 crore. The profit growth is strong, though the market may focus more on the upcoming debt supply. The final interest rate and use of proceeds are the next catalysts.

Primary source: BSE · NSE

SMC Global Securities to raise up to ₹150 cr via NCD public issue

Tipsheet Editorial — Sun, 26 Jul 2026 21:37:42 GMT

Board approves public issue of secured, redeemable NCDs; final coupon and tenors to be decided later. Q1 FY27 results also cleared.

What’s new

Board cleared unaudited Q1 FY27 standalone and consolidated results.
Approved raising up to ₹75 cr base, ₹150 cr total via public NCD issue.
Issue details like coupon and tenors to be decided by NCD committee.

Why it matters

The NCD raise adds ₹150 cr of secured debt to a balance sheet with debt/equity of 1.53. For a market cap of ₹1,513 cr, the issue is moderate and in line with the company's established pattern of tapping public debt. The final coupon will be the key detail.

What we’re watching

Coupon rate and tenure will signal the cost of debt.
Use of proceeds disclosure upon announcement.
Subscription level against prevailing market rates.

The full read

SMC Global Securities is tapping the public debt market again. Its board approved a public issue of secured, redeemable NCDs: base size ₹75 crore, expandable to ₹150 crore with a greenshoe. The company hasn't set coupon or tenors yet; that comes from the NCD committee. Separately, the board cleared unaudited Q1 FY27 results – a routine quarterly filing with no surprises. For a firm with a market cap of ₹1,513 crore and a trailing debt/equity of 1.53, a ₹150 crore debt issue is a reasonable move, not a game-changer. The eventual coupon will matter most, but nothing here alters the story.

Primary source: BSE · NSE