Financial Performance Highlights (Consolidated)

Q1 FY27 (Unaudited) vs Previous Periods (Rs. in Lakhs):

  • Total income from operations (Net): ₹5,625.53 for Q1 FY27 vs ₹2,349.96 for Q4 FY26 and ₹3,916.55 for Q1 FY25
  • Net Loss before tax (after exceptional items): (₹307.82) for Q1 FY27 vs (₹1,200.34) for Q4 FY26 vs Profit of ₹1,386.73 for Q1 FY25
  • Net Loss after tax: (₹489.37) for Q1 FY27 vs (₹1,179.17) for Q4 FY26 vs Profit of ₹1,045.96 for Q1 FY25
  • Basic and Diluted Earnings Per Share (of ₹1 each): (₹0.36) for Q1 FY27 vs (₹0.86) for Q4 FY26 vs ₹0.77 for Q1 FY25
  • Equity Share Capital: ₹1,365.38 lakhs (unchanged across periods)

Adjusted Performance Metrics (Non-GAAP):

  • Adjusted Total Income from Operations*: ₹26.75 Cr for Q1 FY27 vs ₹23.50 Cr for Q4 FY26 (14% QoQ growth)
  • Adjusted PBT**: (₹4.30) Cr for Q1 FY27 vs (₹9.63) Cr for Q4 FY26

*Excluding sale proceeds from unlisted shares

**Excluding other income (one-time) from sale of investment and mark to market on current investments

Business Highlights & Strategic Updates

Investment Banking Performance:

  • Strong start to FY27 with focused execution across IPO, QIP, Preferential Issue, Block Deal, Private Equity, and M&A services

India SME Growth Fund (AIF – Category I):

  • Fully subscribed fund with ₹125 Cr size (including ₹25 Cr green shoe)
  • Four portfolio companies across high-growth sectors: IT (data centres, cloud and managed services), FMCG (emerging premium player in dry fruits, nuts & ice cream), Defence (autonomous maritime defence technology solutions), Fintech (online SEBI-registered investment advisory & learning platform)
  • 10+ cross-sector deals in pipeline

New Product Launches:

  • India Equity Opportunities fund – AIF-Cat II launched in May 2026
  • Total Fund Size: ₹1,000 Cr (including green shoe option of ₹250 Cr)
  • Deal Size: Up to ₹100 Cr
  • Sponsor Commitment: ₹10 Cr
  • Investee Companies: 15-20
  • Fund Tenure: 6+1+1 years (2 Years Investment Period + 4 Years Harvest Period)

Systematix Promoters & Founders Forum (June 2026):

  • Hosted event connecting management teams with investors
  • Generated 1200+ meeting requests
  • Focused on leadership insights, promoter-investor dialogues, and strategic conversations

Strategic Investments:

  • Continuous investments in Private Wealth business including upfront investment in scaling platform, senior talent acquisition, technology enablement, and regulatory infrastructure
  • These investments impacted short-term profitability but expected to drive sustainable revenue growth

Historical Performance Context

FY26 Benchmarking (5-year growth journey):

  • Revenue CAGR: 21.60%
  • Profits CAGR: 69.00%
  • Networth CAGR: 32.30%
  • RoE: 4%

Management Team Details

Top Management:

  • Mr. Nikhil Khandelwal (Chairman and Managing Director): 18+ years experience, MBA from ISB Hyderabad & NYU Stern, BE from Manipal Institute of Technology
  • Mr. Sunil Sarda (Managing Director): 30+ years experience, oversees Brokerage, PCG, Retail, Operations
  • Mr. Ratnadeep Acharyya (Managing Director & CEO - IB): 24+ years experience, previously with SBI Capital Markets, JM Financial, BNP Paribas, ICICI Securities, and ICICI Bank Treasury

Senior Leadership Team:

Investment Banking & Research: Mr. Dhananjay Sinha (CEO & Co-Head of Equities & Head of Research), Mr. Vipul Sanghvi (CEO & Co-Head of Equities & Head of Sales), Ms. Rupam Lal Das (Joint MD - Healthcare Pharmaceutical & PE Coverage), Mr. Ankur Rajoria (Executive Director - IB Consumer and Services), Mr. Karthik Gopalakrishnan (Executive Director - IB Head of Technology), Mr. Amit Kumar (Director - IB ECM Execution), Mr. Rahul Saxena (Director - IB Industrials & Infra), Mr. Ronak Sarda (Director - IB Auto, Defence & Aero)

Private Wealth Asset Management: Mr. Partha Sengupta (Joint Managing Director & CEO), Mr. Bhaskar Hazra (Joint Managing Director & CEO), Mr. Vijay Sarda (CIO- Equity), Mr. Rajeev Bajaj (Director – Wealth)

Operations: Mr. Vinit Maheshwari (Director - Operations), Mr. Kundan Zamvar (Chief Information Officer), Mr. Anil Bhagchandani (Chief Financial Officer), Ms. Mitali Chitnis (Chief Human Resource Officer - Group CHRO), Ms. Nipa Savla (Compliance Officer)

Business Verticals Overview

Investment Banking:

  • 30+ member team
  • Full spectrum services including Investment Advisory, Fund Raising, M&A, Structured Finance, Equity Capital Markets
  • Strong transaction experience across multiple sectors

Equity Brokerage:

  • Strong distribution network across FII (95 funds coverage), DII (145 funds coverage), and Global HNI client segments
  • Research coverage of ~317 companies
  • 62+ franchisee network with 40,000 clients

Private Wealth:

  • AUM & Custody: ∼₹11,800 Cr (as on 30th June 2026 across Systematix Group companies)
  • Offerings include Equity Broking, Insurance Solutions, Proprietary Product ideas, Third Party Product Distribution, Tailored Investment Plans, Off-shore investment solutions, Trust & Estate Planning
  • Experienced team of senior bankers with cumulative experience of 100+ years

Asset Management Services:

AIF Offerings:

  • India SME Growth Fund (Launched August 2025, Close-ended, ₹125 Cr)
  • India Equity Opportunities Fund (Launched May 2026, Close-ended, ₹1,000 Cr)
  • Systematix Real Estate Fund (Proposed Launch October 2026, Close-ended, ₹1,000 Cr*)
  • Equity-focused fund (Proposed Launch October 2026, Open-ended, PPM Filed awaiting SEBI approval)

PMS Offerings:

  • Portfolio PMS: Multi-cap strategy, AUM ~₹150 Cr, 3-year CAGR of 23.6%, 5-year CAGR of 20.4%
  • Systematix Emerging Leaders PMS (Launch Status: July 2026)
  • Million to Billion PMS (Launch Status: July 2026)
  • Backed by 15+ member investment team with over 100 years cumulative market experience