SMC Global Securities reported a challenging Q2/H1 FY26. Q2 revenue was INR 440.3 Cr, down 2.3% YoY, with PAT at INR 21.0 Cr, a 53.9% YoY decline.

H1 revenue reached INR 865.2 Cr (down 3.7% YoY) and PAT stood at INR 50.9 Cr (down 48.5% YoY). EPS for Q2 was INR 1.97 (vs. INR 4.33 YoY) and H1 was INR 4.81 (vs. INR 9.39 YoY). The slowdown largely stemmed from industry-wide moderation in trading activity and a cautious approach in the lending business.

However, the insurance broking segment showed strong resilience, posting healthy revenue growth.

Strategically, SMC is deepening bank partnerships, expanding digital reach via upgraded trading platforms, and enhancing customer engagement through research-driven advisory tools.

They're also focused on strengthening their technology foundation and pursuing global aspirations with an emphasis on fee-based income, leveraging their diversified offerings and extensive network.

The NBFC segment's AUM grew to INR 1,088.18 Cr despite the cautious lending stance.