DBSTOCKBRO - DB Intl.Stock

📊 NSE: DBSTOCKBRO 🏢 Finance & Investments 📅 Last Updated: 12/13/2025 21:22

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for H1 FY26 fell 40.4% to INR 14.97 Cr. Fees and Commission income dropped 48.6% to INR 5.09 Cr, Interest income fell 36.0% to INR 2.81 Cr, and Net gains on fair value changes decreased 34.7% to INR 7.08 Cr.

Geographic Revenue Split

Not explicitly disclosed, but operations are based in Noida, Uttar Pradesh and GIFT City, Gujarat, with 100% of revenue generated in India.

Profitability Margins

Net Profit Margin improved to 13.46% in H1 FY26 from 12.19% in H1 FY25, despite lower revenue, due to a significant reduction in total expenses to INR 12.34 Cr from INR 21.07 Cr.

EBITDA Margin

Estimated EBITDA margin of 25.3% for H1 FY26, down from 39.3% in H1 FY25, reflecting a decline in core profitability due to a 40.4% drop in total revenue.

Capital Expenditure

Capital expenditure for H1 FY26 was INR 0.066 Cr (INR 6.59 Lakhs), primarily for property, plant, and equipment.

Credit Rating & Borrowing

Total borrowings stood at INR 2.65 Cr as of September 30, 2025, with finance costs of INR 0.57 Cr for the half-year period; credit rating is not disclosed.

⚙️ Operational Drivers

Raw Materials

Not applicable for financial services; primary costs are Employee Benefits (INR 3.45 Cr) and IT/Operating expenses (INR 6.86 Cr).

Import Sources

Not applicable for financial services.

Key Suppliers

Not applicable; key service providers include stock exchanges (NSE, BSE) and depositories (CDSL).

Capacity Expansion

Not applicable for stockbroking services; current focus is on expanding the GIFT City subsidiary's operations.

Raw Material Costs

Not applicable; employee benefits represent 23.1% of total revenue.

Manufacturing Efficiency

Not applicable for financial services.

Logistics & Distribution

Not applicable.

📈 Strategic Growth

Expected Growth Rate

Not disclosed in available documents

Growth Strategy

The company plans to achieve growth by expanding its presence in GIFT City through its subsidiary, Daga Business (International) Stock Brokers (IFSC) Private Limited, and by increasing its focus on Mutual Fund distribution (ARN-2116) and IPO/Bond sourcing to diversify revenue away from volatile trading commissions.

Products & Services

Equity trading, Futures & Options (F&O), Commodity trading (MCX), Depository services (CDSL), Mutual Fund distribution, and IPO/Bond distribution.

Brand Portfolio

DB Online, DB (International) Stock Brokers.

Market Expansion

Focus on GIFT City (IFSC) to capture international market access and offshore investor capital.

Strategic Alliances

Wholly owned subsidiary: Daga Business (International) Stock Brokers (IFSC) Private Limited.

🌍 External Factors

Industry Trends

The industry is growing at ~20-25% in terms of new demat accounts, but disrupting due to low-cost digital competitors. DBSTOCKBRO is positioning for the future by establishing an IFSC presence in GIFT City.

Competitive Landscape

Competes with major full-service brokers and rising discount brokerage platforms like Zerodha and Groww.

Competitive Moat

Moat is based on regulatory licenses (GIFT City IFSC, CDSL Depository Participant) which are sustainable due to high compliance barriers and specialized infrastructure requirements.