Share India Securities Ltd. Reports Stellar Earnings for Q1FY24, PAT Jumps 39% YoY

• Revenue from Operations grew by 20.15% from Rs. 23080 Lakhs in Q1 FY23 to Rs. Rs. 27730.82 Lakhs in Q1 FY24 primarily driven by growth in share broking business/trading activity and improved focus on customer retention by offering various products like utrade algo’s and MTF.
• EBITDA increased by 38.61% from Rs. 9087.51 Lakhs in Q1FY23 to Rs. 12596.44 Lakhs in Q1 FY24
• EBITDA margins increased from 38.96% in Q1 FY23 to 45.20% in Q1 FY24 by 624 bps.
• PAT increased by 39.03 % from Rs. 5917.71 Lakhs in Q1 FY23 to Rs. 8227.51 Lakhs in Q1 FY24.
• PAT margins increased from 25.37% in Q1 FY23 to 29.52% in Q1 FY24 by 415 bps.

Management Comments

Commenting on the Q1FY24 Performance, Management added,

“We are thrilled to announce the outstanding financial performance of Share India Securities for the first quarter of FY24. Our consolidated Revenue from Operations grew by an impressive 20.15%, reaching Rs. 27730.82 Lakhs as compared to Rs. 23080 Lakhs in Q1 FY23. This remarkable growth was primarily driven by the expansion of our share broking business and increased trading activity, as well as our unwavering dedication to improving customer retention by offering various allied services.

Notably, our EBITDA witnessed a substantial increase of 38.61%, soaring from Rs. 9087.51 Lakhs in Q1 FY23 to Rs. 12596.44 Lakhs in Q1 FY24. This significant boost in profitability was also reflected in our EBITDA margins, which expanded from 38.96% in Q1 FY23 to an impressive 45.20% in Q1 FY24, indicating the efficacy of our operational strategies. Moreover, our Profit After Tax (PAT) exhibited a remarkable surge of 39.03%, rising from Rs. 5917.71 Lakhs in Q1 FY23 to Rs. 8227.51 Lakhs in Q1 FY24. This growth is a testament to our team’s relentless efforts and commitment to driving financial success.

In line with our commitment to providing value to our esteemed shareholders, we are delighted to announce that the Board has approved the 1st Interim Dividend of Rs. 2 Per Share for FY 23-24, demonstrating our strong financial health and future prospects.

Additionally, we are excited to share our strategic focus on the retail Algo trading platform, “uTrade Algos.” This cutting-edge Algorithmic Trading Platform empowers users to Plan, Strategize, and Automate trades while also having the option to subscribe to Pre-made Algos. We believe that by making algorithms easier and more accessible for everyone, we can drive innovation and transform the landscape of the financial industry. At Share India, we have always been committed to delivering high-quality fintech solutions, and our dedication to developing technology that adds value to our customers remains unwavering.

We extend our heartfelt gratitude to our stakeholders for their unwavering support and trust in our vision. As we progress further, we are confident that our strategic initiatives and strong financial performance will continue to create sustainable value for all our partners and stakeholders.”

Share India Securities Limited (BSE: 540725, NSE: SHAREINDIA) is one of India’s leading tech-based financial service provider. The company offers customized capital market solutions to its clients and has recently launched its algo trading platform for client. SISL has ~2% market share in cash market, ~2% market share in futures and ~5% market share in options on basis of turnover. SISL via its subsidiaries is also present in NBFC business, insurance broking, merchant banking, portfolio management and mutual funds distribution. SISL has been in operations since last 27 years & has a nationwide reach with its 821 and 117 AP and branches respectively present across 16 major States of India. The company has turned focus on its retail Algo trading platform – “uTrade Algos”. uTrade Algos is an Algorithmic Trading Platform, that lets users Plan, Strategize, and Automate trades as well as subscribe to Pre-made Algos. The company is making algos easier and accessible for everyone. Share India believes in high quality fintech and has focused on developing technology. Within a short span, the company has grown from a traditional stockbroker to a hi-tech broking company specializing in derivative trading strategies and growing from strength to strength. The company is using tech driven trading platform for automated/algo driven derivative strategies to improve client retention. It is continuously innovating latency based high-tech trading platform and expanding our bouquets of trading strategies.

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