Monday, May 20, 2024

Share India Securities Ltd. Reports Highest ever Revenue and Profit since Inception

Share India Securities Limited (BSE: 540725, NSE: SHAREINDIA), is a technology driven financial services provider that offers a wide range of customized solutions in the capital market, has announced its Financial Results for the Quarter and year ended 31 st March 2024.

For the quarter ended 31 March 2024, the revenue was reported at Rs. 465 Cr, recording a growth of 36.6% YoY. EBITDA grew 11.4% YoY, from Rs. 157 Cr (Q4FY23) to Rs. 175 Cr (Q4FY24). PAT recorded a growth of 8.3% YoY, to Rs. 116 Cr.

For the year ended 31 March 2024, the revenue was reported at Rs. 1483 Cr, a growth of 36.3%. EBITDA was reported at Rs. 663 Cr, a growth of 31.5%. PAT came in at Rs. 426 Cr, a growth of 28.8% YoY.

Commenting on the performance, Mr. Sachin Gupta – CEO & Whole-time Director of Share India Securities Limited said, “I am delighted to announce the exceptional performance of our company in the (FY24), marking a significant milestone in our journey of growth and innovation. In FY24, we have achieved our highest-ever Revenue and Profit After Tax (PAT) since our inception. Our revenues surged by an impressive 36% year-on-year, reaching Rs. 1,483 Crores, while our PAT soared by 29% to Rs. 426 Crores. These remarkable achievements underscore our unwavering commitment to excellence and the
resilience of our business model amidst evolving market dynamics.

Our commitment to expanding our client base has yielded significant results, with our Broking clients showing a robust growth of 27% year-on-year, reaching a total of 35,380 clients in FY24.

In recognition of our strong performance and commitment to shareholder value, the Board has declared a dividend of Rs. 1 per share, bringing the total dividend for the fiscal year to Rs. 9 per share. Additionally, the Board has also approved a stock split in the ratio of 1:5.

Looking ahead, we remain committed to pursuing excellence, fostering innovation, and delivering sustainable value for all our stakeholders. With a solid foundation and a clear strategic direction, we are well-positioned to capitalize on future opportunities and drive long-termgrowth and success.”

A trusted brand since 1995, Share India Securities has over the years made more than 149 branches and 32,886 clients. SISL is a technology driven customer centric financial conglomerate focused on making low latency trading platform, automate algo trading software/strategies, design customized broking solutions and enable customers to earn superior return. It has over the years accumulated expert research capabilities using proprietary tools and capabilities which were earlier being used by ultra HNI/HNI’s only. SISL has now set afoot to take these solutions in India’s growing retail market and enable individual investors to simplify “Algo-Trading“ with “utradealgos”.

SISL currently has an Avg daily turnover of Rs. 11,000cr including cash market, Eq-derivative, currency and commodity segment. SISL is recognized as a fintech broker among its institutional/ u-HNI clientele.

It acquired uTrade Solutions and Algowire Technologies in FY21 to strengthen its tech powers. Both these entities are run by alumni of IIT/IIM/ISB and alumni of other prestigious institutions. The combined engineering strength of these companies is more than 120 engineers. Also, SISL has recently announced MoU to acquire another tech company – Silverleaf which is led by IIT-B alum and specializes in HFT.

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