Std. Capital Mkt - Std. Capital Mkt

📊 BSE: 511700 🏢 Non Banking Financial Company (NBFC) 📅 Last Updated: 11/13/2025 15:25

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment (NBFC activities). Revenue from operations grew by 107.47% YoY to INR 64.25 Cr (INR 6,424.92 Lakhs) from INR 30.97 Cr. Total revenue increased by 225.42% YoY to INR 100.78 Cr (INR 10,077.65 Lakhs).

Geographic Revenue Split

Not disclosed in available documents, though the company aspires to a Pan-India presence.

Profitability Margins

Operating Profit Margin declined from 49.15% to 32.12% (a drop of 1,703 bps). Net Profit Margin decreased from 34.58% to 28.13% (a drop of 645 bps). Return on Net Worth also fell from 13.94% to 11.02%.

EBITDA Margin

Operating Profit Margin stood at 32.12% for FY2024-25, reflecting a significant YoY compression from 49.15% as the company scaled its AUM by 211.55%.

Capital Expenditure

Not disclosed in available documents; as an NBFC, the primary capital allocation is toward the loan book (AUM), which grew to INR 1,318.85 Cr (INR 1,31,885.49 Lakhs).

Credit Rating & Borrowing

The Debt-Equity Ratio increased from 1.54% to 3.21% YoY. The Interest Coverage Ratio declined from 1.95% to 1.54%, indicating higher leverage and increased interest obligations relative to earnings.

⚙️ Operational Drivers

Raw Materials

As a financial services entity, the primary 'raw material' is the Cost of Funds/Capital (borrowings and equity) used to generate interest income.

Import Sources

Not applicable for NBFC operations.

Key Suppliers

Not disclosed; typically includes banks, financial institutions, and capital market investors providing debt capital.

Capacity Expansion

Current Assets Under Management (AUM) is INR 1,318.85 Cr (INR 1,31,885.49 Lakhs) as of March 31, 2025, representing a 211.55% expansion from INR 423.32 Cr in the previous year.

Raw Material Costs

Not applicable; however, interest expense is a key driver, reflected in the Interest Coverage Ratio of 1.54%.

Manufacturing Efficiency

Not applicable; operational efficiency is targeted through process automation and leveraging analytics for customer acquisition.

Logistics & Distribution

Not applicable; distribution is handled through digital channels and a strategic foothold in commercial finance.

📈 Strategic Growth

Expected Growth Rate

Not disclosed in available documents

Growth Strategy

Growth will be achieved by scaling the MSME and Education Loan portfolios, expanding the Consumer Durables Loans business, and increasing fee-based income. The company is also leveraging analytics for customer acquisition and participating in the corporate insolvency resolution process (CIRP) of Paymark Payment Technologies.

Products & Services

Business Loans, Personal Loans, Education Loans, MSME Loans, and Consumer Durables Loans.

Brand Portfolio

Standard Capital Markets Limited (SCML).

New Products/Services

Expansion into Consumer Durables Loans and enhanced MSME financial solutions.

Market Expansion

Targeting deeper penetration in semi-urban and rural markets and diversifying into new financial products.

Strategic Alliances

Mentions potential for co-lending partnerships with banks to expand reach and manage liquidity.

🌍 External Factors

Industry Trends

The NBFC sector is growing due to the RBI's Scale-Based Regulation (SBR) framework, which improves transparency. There is a strong shift toward digital transformation and financial inclusion in underserved rural areas.

Competitive Landscape

Faces intense competition from public sector banks, other NBFCs, and new-age fintech lenders, particularly in unsecured lending segments.

Competitive Moat

The moat is built on a specialized understanding of MSME needs and the ability to offer customized products that traditional banks may overlook, supported by a process-driven internal control framework.

Macro Economic Sensitivity

Highly sensitive to interest rate volatility and inflationary trends, which impact borrower repayment capacity and the company's cost of capital.

Consumer Behavior

Increasing demand for digital-first financial solutions and quick turnaround times for loan approvals.

Geopolitical Risks

Global economic disruptions could impact domestic credit demand and the overall stability of the Indian financial system.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RBI's Scale-Based Regulation (SBR) framework, SEBI Listing Regulations, and the Companies Act, 2013.

Taxation Policy Impact

The effective tax rate for FY2024-25 was approximately 10.14% (Tax of INR 3.20 Cr on PBT of INR 31.55 Cr).

⚠️ Risk Analysis

Key Uncertainties

Credit risk (recovery of capital from counterparties) and Asset Quality risks (rising NPAs) are primary uncertainties that could impact the INR 28.35 Cr PAT.