About the Company
Indo Thai Securities Limited, established in 1995, is a prominent full-service brokerage firm in India. It offers a wide range of financial services, including equity, derivatives, commodities, and wealth management. As part of a conglomerate with diversified interests in real estate and green technology, Indo Thai has built a robust presence in the financial services landscape. The company is headquartered in Indore, Madhya Pradesh, and operates through a network of branches and sub-brokers across India. With over 30 years of experience, Indo Thai is committed to delivering exceptional service to its clients.
Key Metrics
| Metric |
Value |
Industry Average |
Remarks |
| Market Capitalization |
₹1,730 crore |
N/A |
Reflects investor confidence. |
| Current Share Price |
₹1,730 |
N/A |
Indicates high market valuation. |
| Price-to-Earnings (P/E) |
99.5 |
25–30 |
Suggests high investor expectations. |
| Book Value per Share |
₹92.5 |
N/A |
Stock trades at 18.8 times its book value. |
| Dividend Yield |
0.09% |
1–2% |
Low yield may indicate focus on growth. |
| Return on Capital Employed |
28.2% |
15–20% |
Shows efficient use of capital. |
| Return on Equity |
23.3% |
12–15% |
Indicates strong profitability. |
| 52-Week High/Low |
₹1,813/₹232 |
N/A |
Highlights significant price volatility. |
Stock and Price Analysis
Indo Thai Securities' stock has demonstrated remarkable growth over the past year, with its 52-week high reaching ₹1,813. The P/E ratio of 99.5 reflects a premium valuation, driven by strong investor confidence or expectations of future earnings growth. However, trading at 18.8 times its book value, the stock may be perceived as overvalued by value-focused investors. The high ROCE and ROE highlight the company’s efficient capital allocation and robust profitability.
Historical Stock Performance
| Time |
Indo Thai Securities |
Nifty50 Returns |
Sensex Returns |
Industry Returns |
Sector Returns |
| 1 Day |
5% |
-1.43% |
-1.3% |
-4.5% |
-2.42% |
| 1 Week |
26.28% |
-3.77% |
-3.59% |
-11.52% |
-7.92% |
| 1 Month |
59.58% |
-5.9% |
-6.04% |
-13.35% |
-10.83% |
| 3 Months |
107.65% |
-7.47% |
-6.15% |
-2.17% |
-8.16% |
| 6 Months |
561.17% |
-5.73% |
-5.15% |
27.54% |
-6.38% |
| 1 Year |
659.52% |
5.43% |
5.25% |
58.47% |
9.38% |
| 3 Year |
326.19% |
26.82% |
24.9% |
202.12% |
74.89% |
| 5 Years |
7,099.6% |
88.44% |
83.6% |
468.92% |
200.19% |
| 10 Years |
12,612.59% |
177.5% |
176.87% |
829.29% |
360% |
Quarterly Results (Q2 FY2024)
| Indicator |
Sep '24 |
Jun '24 |
Mar '24 |
Dec '23 |
Sep '23 |
Jun '23 |
Mar '23 |
| Total Revenue |
9.7 |
9 |
6.4 |
9.3 |
8.6 |
6.9 |
2.1 |
| Operating Expenses |
3.4 |
3 |
1.9 |
2.6 |
2.4 |
2.1 |
11.8 |
| Operating Profit |
6.4 |
6 |
4.4 |
6.7 |
6.2 |
4.8 |
-9.7 |
| Operating Profit Margin % |
65.33% |
66.60% |
69.32% |
72.52% |
72.38% |
69.30% |
-466.17% |
| Depreciation |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
| Interest |
0.2 |
0.2 |
0.3 |
0.1 |
0.2 |
0.2 |
0.1 |
| Profit Before Tax |
6.1 |
5.8 |
4.1 |
6.6 |
6 |
4.6 |
-9.9 |
| Tax |
1.2 |
0.9 |
1.1 |
1 |
1.3 |
1.2 |
-2.2 |
| Net Profit |
4.9 |
4.8 |
2.9 |
5.6 |
4.7 |
3.4 |
-7.6 |
| Basic EPS |
4.9 |
4.8 |
2.9 |
5.6 |
4.7 |
3.4 |
-7.6 |
| Net profit TTM |
18.2 |
18 |
16.6 |
6.1 |
0.8 |
3.3 |
-5.8 |
| Basic EPS TTM |
18.2 |
18 |
16.6 |
6.1 |
0.8 |
3.3 |
-5.8 |
The company has consistently improved its revenue and margins, driven by increased trading volumes and operational efficiency. Its operating profit margin of 59.87% underscores its ability to manage costs effectively while growing revenues.
Shareholding Pattern
| Summary |
Sep 2024 |
Jun 2024 |
Mar 2024 |
Dec 2023 |
Sep 2023 |
Jun 2023 |
Mar 2023 |
| Promoter |
72.2% |
72.2% |
72.2% |
72.2% |
72.2% |
72.2% |
72.2% |
| FII |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
| DII |
0.1% |
0.1% |
0.1% |
0.1% |
0.1% |
0.1% |
0.1% |
| Public |
27.8% |
27.8% |
27.8% |
27.8% |
27.8% |
27.8% |
27.8% |
The high promoter holding reflects strong confidence in the company’s future prospects. Compared to peers, Indo Thai’s promoter stake is one of the highest, indicating robust governance and alignment with shareholder interests.
Peer Competitors
Indo Thai Securities operates in a competitive industry with notable players such as:
| Stock |
Current Price |
PE TTM Price to Earnings |
Market Capitalization |
Dividend yield 1yr % |
Net Profit Qtr |
Net Profit Annual YoY Growth % |
Operating Revenue Qtr |
Revenue Growth Qtr YoY % |
Price to Book Value |
| Indo Thai Securities Ltd. |
1817.9 |
105.85 |
1846.68 |
0.09% |
4.54 |
322.84% |
9.32 |
9.73% |
19.93 |
| Motilal Oswal Finance |
824.45 |
14.6 |
49407.52 |
0.42% |
1120.08 |
162.00% |
2837.83 |
73.12% |
4.62 |
| 360 One Wam Ltd |
1105.15 |
46.44 |
42910.4 |
0.95% |
245.49 |
22.23% |
862.76 |
55.56% |
10.97 |
| ICICI Securities Ltd. |
816.95 |
12.9 |
26556.59 |
2.08% |
529.04 |
51.81% |
1706.65 |
36.64% |
5.95 |
| Angel One Ltd. |
2438 |
16.72 |
22003.15 |
0.52% |
423.37 |
26.47% |
1514.71 |
44.55% |
4.17 |
| Nuvama Wealth Management |
6102.55 |
26.2 |
21893.57 |
2.37% |
257.64 |
104.96% |
1051.35 |
42.99% |
6.93 |
| Anand Rathi Wealth Ltd |
4004.75 |
63.02 |
16623.84 |
0.40% |
76.11 |
33.59% |
242.48 |
32.81% |
30.03 |
Indo Thai competes effectively by leveraging its expertise and client-centric approach. However, it faces challenges in technology adoption compared to larger players like Angel One.
SWOT Analysis
Strengths
- Established market presence with over three decades of experience.
- Strong financial performance with high ROCE and ROE.
- High promoter holding indicates confidence and stability.
Weaknesses
- High P/E ratio and valuation multiples may deter value investors.
- Limited technological innovation compared to tech-savvy competitors.
Opportunities
- Expansion into underpenetrated markets within India.
- Diversification of service offerings to include fintech solutions.
- Leveraging technology to enhance customer experience and operational efficiency.
Threats
- Intense competition from established and emerging players.
- Regulatory changes that could impact brokerage margins and operations.
- Market volatility affecting trading volumes and revenue stability.
Final Words
Indo Thai Securities Limited is a strong player in India’s financial services sector, backed by decades of expertise and a client-focused approach. Its robust financial metrics and consistent performance highlight its operational efficiency. While the high valuation and competitive landscape pose challenges, the company’s focus on innovation and expansion positions it well for future growth. Investors should weigh its strengths against potential risks to make informed decisions. With a commitment to excellence and customer satisfaction, Indo Thai remains a noteworthy contender in the evolving financial ecosystem.
Discalimer!
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