Financial Performance Highlights
Q2 FY27 Consolidated Results (₹ in millions)
- Revenue from Operations: ₹3,729 (36% increase from Q2 FY26 ₹2,744)
- Other Income: ₹62 (36% decrease from Q2 FY26 ₹97)
- Total Income: ₹3,790 (33% increase from Q2 FY26 ₹2,841)
- Employee Benefit Expenses: ₹1,121 (45% increase from Q2 FY26 ₹772)
- Finance Costs: ₹306 (49% increase from Q2 FY26 ₹206)
- Depreciation and Amortization: ₹62 (56% increase from Q2 FY26 ₹40)
- Administrative and other Expenses: ₹1,363 (26% increase from Q2 FY26 ₹1,079)
- Total Expense: ₹2,852 (36% increase from Q2 FY26 ₹2,097)
- Profit Before Tax: ₹938 (26% increase from Q2 FY26 ₹744)
- Tax Expenses: ₹244 (36% increase from Q2 FY26 ₹180)
- Profit After Tax: ₹695 (23% increase from Q2 FY26 ₹565)
- PAT Margin: 18.33% (vs 19.88% in Q2 FY26)
- EBIDTA: ₹1,306 (32% increase from Q2 FY26 ₹990)
- EBITDA Margin: 34.47% (vs 34.84% in Q2 FY26)
Corporate Action
The Board of Directors has recommended the issuance of bonus shares in the ratio of 1:1, subject to the approval of the shareholders of the Company.
Key Business Developments
Broking and Distribution
- Demat accounts increased by 1.73 lakh to 13.78 lakh total (14% YoY growth)
- Distribution network: 218 branches
- Client assets under custody: ₹66,300 crore
- MTF book: ₹463 crore
Strategic Investment
Choice Equity Broking received ₹900 crore from South Korea's NH Investment & Securities post-quarter end. Funds will primarily support MTF expansion and broader business growth.
Wealth Distribution
- Total AUM: ₹6,047 crore
- Mutual Fund AUM: ₹4,108 crore (equity AUM grew 49% YoY to ₹3,013 crore)
- PMS and AIF AUM: ₹291 crore (127% increase from ₹128 crore)
- Structured and fixed-income product distribution: ₹1,636 crore in H1 FY27 (vs ₹512 crore year earlier)
India Post Payments Bank Partnership
Pilot program in selected cities has onboarded over 25,000 customers with AUM of ₹1.12 crore.
Insurance Business
Sold 75,173 policies generating premiums of ₹81 crore during the quarter.
Government Advisory
Order book of ₹710 crore. Proposed acquisition of Feedback Infra advanced with receipt of Letter of Intent from Resolution Professional, confirming Committee of Creditors' approval. Completion subject to NCLT approval.
Investment Banking
Handled 5 IPOs raising approximately ₹680 crore across mainboard and SME platforms
- One offering subscribed approximately 177 times
- Current pipeline: 24 mandates with estimated fundraising of ₹6,210 crore
NBFC Business
Total loan book: ₹935 crore with focus on growing retail lending business
Asset Management
NFO for Choice Large & Mid Cap Fund closing November 3, 2026. Plans to launch additional products.
Management Commentary
Mr. Kamal Poddar, Managing Director, stated the performance reinforces the strategy of building complementary businesses around India's growing investment, financing and development needs. The NH Group investment brings capital and international expertise to support next phase of growth.