SMC Global board approves ₹150 cr NCD issue, Q1 profit jumps 23%
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.
— 2 earlier stories on SMC Global Securities Ltd. →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 this 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.
Questions answered
- What is the total amount SMC Global plans to raise?
- The board approved a public NCD issue with a base size of ₹75 crore and a green shoe option of another ₹75 crore, allowing the company to raise up to ₹150 crore.
- How much did Q1 profit grow?
- Consolidated net profit for the June quarter came in at ₹36.74 crore, up 23% from ₹29.95 crore in the same quarter last year. Standalone net profit was ₹25.12 crore.
- Are these NCDs secured and listed?
- Yes, the debentures will be secured, rated, and listed on a stock exchange. Interest rates and other terms will be decided by a board committee.
- What is the NCD issue size relative to the company's revenue and market cap?
- The ₹150 crore issue is approximately 8% of the company's FY26 revenue of ₹1,876.9 crore and about 9.5% of its ₹1,513 crore market capitalization.
- Does the NCD issue dilute equity?
- No, NCDs are debt instruments and do not dilute existing shareholders' equity. They add to the company's debt, which already stands at a debt-to-equity ratio of 1.53.
- When will the NCD issue be launched?
- The exact timeline has not been disclosed. The company will finalise the issue details, including interest rates and launch dates, via a board committee.
Story so far
All notes on SMCGLOBAL →- 26 Jul 2026 · 9:40 PM IST SMC Global board approves ₹150 cr NCD issue, Q1 profit jumps 23%
- today SMC Global Q1 profit edges up, board approves ₹75 cr NCD issue
- today SMC Global Securities to raise up to ₹150 cr via NCD public issue