INDOTHAIFinancial Services

Indo Thai Securities Limited

Stockbroking & Allied · ISIN INE337M01021 · BSE 533676 · NSE EQ · FV ₹1
Last price
₹35
-4.98%today
What this company does

Indo Thai Securities Limited operates in Stockbroking & Allied, part of the Financial Services sector. It booked ₹21 cr of revenue in its latest quarter (Q1 FY27) and kept 53.7% of sales as profit.

In the report:
77out of 100
Equitytale Health Score
Solid

Healthier than 77% of companies in Financial Services, on the 5 of 6 measures we could read for it. Each measure is ranked against the 129–250 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
oversold
RSI (14)
13

At close. Not part of the score.

Profitability & returns75

How much profit it earns on the money it employs

Cash quality42

Whether reported profit actually arrives as cash

Growth & consistency94

Whether sales and profit have grown, and how steadily

Valuation62

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: balance sheet. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Strong 54% net margin
Sales up 272% vs last year
Profit up 1,013% vs last year
Promoters hold 56%
No promoter shares pledged
Strong 16% return on equity
Virtually debt-free
Watch-outs
! Operating cash flow is negative

What if I invest in INDOTHAI?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹35 -4.98%
latest close · 2026-09-17
52-wk low ₹3442 sessions so far52-wk high ₹235
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio10.3Low
LowAverageHigh
P/B ratio1.61Moderate
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity15.6%Strong
WeakFairStrong ▸15%
Net margin53.7%Strong
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.08Comfortable
LowModerateHigh ▸1
More figures
Market cap
₹458 cr
Book value
₹22
EPS
₹0.86
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
11.8%
Earnings yield
9.74%
P/S
5.55
Sales / share
₹6.4
Tax rate
26.0%
Face value
₹1
Shares
13.0 cr
Working capital
Current assets
Current liabilities
Delivery %
77.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹12₹26, midpoint ₹19

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹21 cr
Other Income₹14.6 L
Total Income₹21 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹2 cr
Finance Costs₹89.2 L
Depreciation & Amortisation₹19.7 L
Other Expenses₹2 cr
Total Expenses₹6 cr
Profit before Tax₹15 cr
Tax Expense₹4 cr
Net Profit₹11 cr
Net margin on total income53.1%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹2 cr9.3%
Finance costs₹89.2 L4.3%
Depreciation & amortisation₹19.7 L0.9%
Other expenses₹3 cr13.7%
Tax expense₹4 cr18.6%
Profit for the period₹11 cr53.1%
Total income ₹21 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue28 cr38 cr21 cr
Total income28 cr38 cr21 cr
Expenses5 cr7 cr6 cr
Profit before tax23 cr31 cr15 cr
Tax6 cr5 cr4 cr
Net profit (owners' share)17 cr26 cr11 cr
Net margin (owners' share, on revenue)61.8%68.3%53.7%
EPS (₹)1.372.040.86
YoY (latest quarter): total income +271.6% · net profit +1,013.3%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹374 cr
Shareholder equity
₹284 cr
parent shareholders
Total debt
₹24 cr
Cash
₹3 cr
Cash flow · H1 FY25
Operating
₹-19 cr
Investing
₹3 cr
Financing
₹14 cr
Peer comparison
Stockbroking & Allied · by market value
CompanyPriceMarket capP/E
Billionbrains Garage Ventures Limited₹187₹1.17 L cr39.4
Motilal Oswal Financial Services Limited₹989₹59,534 cr11.7
360 ONE WAM LIMITED₹1,061₹43,163 cr32.6
Nuvama Wealth Management Limited₹1,687₹30,803 cr25.1
Angel One Limited₹295₹26,949 cr29.0
IIFL Capital Services Limited₹337₹10,562 cr14.2
Share India Securities Limited₹218₹4,780 cr9.6
Anand Rathi Share and Stock Brokers Limited₹501₹3,155 cr33.7
Monarch Networth Capital Limited₹368₹2,917 cr16.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.28%
trailing 12 months
Dividend / share (TTM)
₹0.1
Last dividend
₹0.1
ex 11 Sep 2026
ActionDetailEx-date
Dividend₹0.1 / share11 Sep 2026
Dividend₹0.1 / share8 Aug 2025
Stock splitStock Split From Rs.10/- to Rs.1/-18 Jul 2025
Dividend₹0.6 / share20 Sep 2024
Dividend₹1 / share13 Feb 2024
Dividend₹0.6 / share15 Sep 2023
Who owns it · 2026-06-30
No pledge
Promoter
56.1%
FII / Foreign
1.3%
DII / Domestic
0.5%
Retail / others
42.2%
Promoter stake down 16.1% over the last 12 quarters.
Smart-money activity
Insider trades
SoldSarthak Doshi · Promoter Group20,500 · ₹58.4 L30 Mar 26
BoughtSarthak Doshi · Promoter Group20,500 · ₹57.8 L25 Mar 26
BoughtGaurav Jain · Promoter Group29,400 · ₹14.0 L16 Mar 21
Bulk / block deals
SoldPRIJAL TRADEFIN LLP · NSE8.11 L @ ₹43.4111 Sep 26
BoughtPRIJAL TRADEFIN LLP · NSE1.46 L @ ₹41.9111 Sep 26
SoldNEO APEX SHARE BROKING SERVICES LLP · NSE16.01 L @ ₹45.4911 Sep 26
Stake changes
BoughtVarsha Doshi · promoter→ 14.74% · 50,0004 Dec 21
BoughtSarthak Doshi alongwith PAC · promoter→ 32.00% · 44,0004 Dec 21
BoughtSarthak Doshi · promoter→ 5.16% · 18,0003 Dec 21
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 27 Sep 2025
See the official result
1
Adoption of Audited Standalone Financial Statements.
Backed by 100% of shareholders other than promotersneeded 50%
45.12 L votes for, 380 against · 0% of mutual funds and other big investors said no
2
Adoption of Audited Consolidated Financial Statements.
Backed by 100% of shareholders other than promotersneeded 50%
45.12 L votes for, 380 against · 0% of mutual funds and other big investors said no
3
Re-appointment of a Mr. Parasmal Doshi, (DIN: 00051460), director liable to retire by rotation.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
45.12 L votes for, 388 against · 0% of mutual funds and other big investors said no
4
Appointment of Ms Kaushal Ameta and Co. as Secretarial Auditor of the company.
Backed by 100% of shareholders other than promotersneeded 75%
45.12 L votes for, 388 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 18 named members
owning 56.1% between them · as of 2026-06-30
VARSHA DOSHI11.38%
DHANPAL DOSHI9.80%
PARASMAL DOSHI8.99%
SADHANA DOSHI8.06%
NISHIT DOSHI4.61%
SARTHAK DOSHI4.55%
CITADEL REAL ESTATES PRIVATE LIMITED2.09%
DHANPAL DOSHI HUF2.02%
Business done with them
FY2025 · 12 of the group
The company paid ₹2 cr to companies in the promoter group last year — about 8.2% of its ₹26 cr revenue and received ₹4.2 L back from them.
Dhanpal Doshi
Contribution made to them · Brokerage received and payables
also owns 9.80% of the company
₹65.9 L
company paid
Parasmal Doshi
Contribution made to them · Brokerage received and payables
also owns 8.99% of the company
₹65.8 L
company paid
Sarthak Doshi
Contribution made to them · Brokerage received and payables
also owns 4.55% of the company
₹42 L
company paid
Nishit Doshi
Contribution made to them · Brokerage received and payables
also owns 4.61% of the company
₹42 L
company paid
Sadhana Doshi
Other income from them · Brokerage received and payables
also owns 8.06% of the company
₹1.7 L
company received
Parasmal Doshi
Other income from them · Brokerage received and payables
also owns 8.99% of the company
₹0.56 L
company received
Sarthak Doshi
Other income from them · Brokerage received and payables
also owns 4.55% of the company
₹0.52 L
company received
Dhanpal Doshi HUF
Other income from them · Brokerage received and payables
also owns 2.02% of the company
₹0.42 L
company received
Dhanpal Doshi
Other income from them · Brokerage received and payables
also owns 9.80% of the company
₹0.21 L
company received
Varsha Doshi
Other income from them · Brokerage received and payables
also owns 11.38% of the company
₹0.21 L
company received
Nishit Doshi
Other income from them · Brokerage received and payables
also owns 4.61% of the company
₹0.18 L
company received
Rajmati Hingad
Other income from them · Brokerage received and payables
₹0.16 L
company received
Vijaya Jain
Other income from them · Brokerage received and payables
also owns 0.31% of the company
₹0.11 L
company received
Paras Doshi HUF
Other income from them · Brokerage received and payables
also owns 1.23% of the company
₹0.06 L
company received
Citadel Real Estates Pvt Ltd
Other income from them · Brokerage received and payables
also owns 2.09% of the company
₹0.03 L
company received
Nivya Doshi
Other income from them · Brokerage received and payables
also owns 0.52% of the company
₹0.02 L
company received

The company also transacted with 16 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹4 cr raised in Jun 2026 by selling shares to selected investors

The company has not broken this money down into purposes in its filing for Jun 2026, so there is nothing to measure it against yet. CareEdge Ratings Limited watches the spending on the exchange’s behalf.

₹75 L raised in Jan 2026 by selling shares to selected investors

The company has not broken this money down into purposes in its filing for Mar 2026, so there is nothing to measure it against yet. CareEdge Ratings Limited watches the spending on the exchange’s behalf.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.