Results reported 15 October 2026 | Stock broking and fintech
The Quick Take
5paisa Capital’s Q2 FY27 net profit was Rs 7.06 cr, down 39% quarter on quarter and about 26% year on year. Revenue of Rs 86.46 cr was lower than in Q1, while costs rose, and the EBITDA margin fell to 14% from 20%.
Q2 FY27 snapshot (Rs crore)
| Metric | Q2 FY27 | Q1 FY27 | Q2 FY26 |
|---|---|---|---|
| Revenue from operations | 86.46 | 88.45 | 77.30 |
| Brokerage income | 34.91 | 39.40 | 34.78 |
| Allied broking income | 24.38 | 21.63 | 19.57 |
| EBITDA (margin) | 12.30 (14%) | 17.70 (20%) | 15.10 (20%) |
| Net profit (margin) | 7.06 (8%) | 11.63 (13%) | 9.58 (12%) |
What drove the quarter
- Turnover: Average daily turnover fell 15% QoQ to Rs 2.59 trillion; orders fell to 20.9 million from 25.1 million. Management attributed this mainly to new CAS requirements.
- Clients: 81,600 new clients, with a customer base of 5.34 million (+2% QoQ).
- Costs: Total expenses rose to Rs 77.00 cr from Rs 72.93 cr.
- Balance sheet: Loans of Rs 506 cr, up from Rs 340 cr in March; a Rs 469 cr rights issue is planned for FY27.
Initiatives
A rebuilt AI-native app, the Trendlyne acquisition, the AlgoSpace no-code algo marketplace, and open APIs.
Risks
- Lower derivatives activity.
- Margin compression while product investment continues.
- Credit risk from a growing funding book.
Setup
Neutral. Margins are at a multi-quarter low, and volume recovery is the swing factor.
This is educational analysis, not personalized investment advice. Do your own research before investing.
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