5paisa Capital Limited – Investor Presentation Summary
Key Operational Highlights
- App users reached 24.1 Mn in Q2 FY27.
- Customer acquisition was 81.6K for Q2 FY27, a 10% increase quarter-on-quarter (QoQ).
- Do-It-Yourself (DIY) Acquisition accounted for 95.4% of total acquisitions in Q2 FY27, down 1% QoQ.
- Total orders executed were 20.9 Mn for Q2 FY27, down 17% QoQ.
- Average Daily Turnover (Notional) was ₹2.59 Tn for Q2 FY27, down 15% QoQ.
- Mutual Fund Assets Under Management (AUM) stood at ₹2,095 Cr.
- Average Client Funding Book was ₹4,811 Mn for Q2 FY27, up 19% QoQ.
Key drivers of operational performance: Growth in client acquisition and funding book, partially offset by a decline in trading turnover and order volume.
Financial Highlights
Revenue: ₹865 Mn for Q2 FY27 (Down 2% QoQ)
EBITDA: ₹123 Mn for Q2 FY27 (Down 31% QoQ)
PAT: ₹71 Mn for Q2 FY27 (Down 39% QoQ)
EPS (Basic): ₹1.55 (Down 41% QoQ)
Margins: PAT margin was 8% for Q2 FY27, down from 13% in Q1 FY27.
YoY/QoQ comparison: Revenue was up 12% Year-on-Year (YoY) for the half-year ended September 30, 2026. PAT was down 26% YoY for the same half-year period.
Drivers of financial performance: Decrease in broking income and increase in expenses (employee benefits, depreciation, finance cost, and other expenses).
Key Risks: Not Specified
Balance Sheet Snapshot (Consolidated as of Sep 30, 2026)
Net Debt/Equity: Not Specified
Reserves: Part of 'Other Equity' at ₹10,893.41 Mn.
Current Assets/Liabilities: Financial Assets (including cash and equivalents of ₹93.71 Mn and bank balances of ₹14,536.83 Mn) vs. Financial Liabilities (including payables and borrowings).
Working Capital/Leverage Metrics: Not Specified
Financial Health Insights: Strong liquidity position with significant bank balances.
Capex & Cash Flow Health
Capital Expenditure: Not Specified in value, but the company capitalized ₹58.8 Mn of employee benefit expenses and ₹3.9 Mn of other expenses towards internally developed software and other intangible assets in Q2 FY27.
Free Cash Flow: Not Specified
Operating Cash Flow: Not Specified
Net Debt Movement: Not Specified
Investment Rationale: Significant investment in new app development and technology platforms.
Strategic & R&D Initiatives
Investments in Innovation: Launch of a new trading app rebuilt for speed, simplicity, and scale. Development of AI-powered features across products and the AlgoSpace algo trading platform.
Expected impact on growth: Not Specified
Strategic Rationale: To empower every Indian to build wealth with a full-stack digital wealth management platform, offering trading, investing, and partnership offerings.
Industry Trends & Business Environment
Macro/Industry Trends: 17 Mn demat accounts were opened in H1 FY27 industry-wide. Derivative Average Daily Turnover (ADTO) has remained flat. The number of NSE Active clients decreased slightly to 46.1 million as of September 2026. Individual investors' direct holding in NSE-listed companies grew from 9.1% to 9.5%.
Impact on Company: The company's client growth aligns with the industry trend of new demat account openings, though its trading volumes were impacted by flat industry derivative turnover.
Management Commentary & Growth Outlook
Strategic Outlook: Not Specified
FY Guidance: Not Specified
Market Share Targets: Not Specified
Risks and Opportunities: Not Specified
Additional Headings
ESG Updates: The company has a whistleblower policy, a diverse independent board, and complies with all SEBI regulations. It maintains employee welfare schemes, a gender-diverse workplace, and promotes digitalization and environmental initiatives like tree plantation. The organization is ISO 27001:2013 certified with a comprehensive cyber security framework.