MASTERTRFinancial Services

Master Trust Limited

Stockbroking & Allied · ISIN INE677D01037 · BSE 511768 · NSE EQ · FV ₹1
Last price
₹87
+2.45%today
What this company does

Master Trust Limited operates in Stockbroking & Allied, part of the Financial Services sector. It booked ₹150 cr of revenue in its latest quarter (Q1 FY27) and kept 23.1% of sales as profit.

A SEASONED FINANCIAL SERVICES PROVIDER WITH A LEGACY OF 40 YEARS With a legacy of over 40 years, mastertrust has firmly established Vision Mission itself as a trusted To be a beacon in the financial Empowering investors with leader in the financial world, illuminating pathways for unparalleled insights, tools and services sector. Serving informed and sustainable investing personalised guidance.
In the report:
75out of 100
Equitytale Health Score
Solid

Healthier than 75% of companies in Financial Services, on the 4 of 6 measures we could read for it. Each measure is ranked against the 26–250 companies that reported it.

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

Price momentum
neutral
RSI (14)
54

At close. Not part of the score.

Profitability & returns66

How much profit it earns on the money it employs

Cash quality88

Whether reported profit actually arrives as cash

Valuation89

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

Governance & risk65

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: balance sheet, growth & consistency. 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 23% net margin
Sales up 14% vs last year
Profit up 28% vs last year
Promoters hold 72%
Strong 17% return on equity
Turns profit into real cash
Watch-outs
! 17.0% of promoter stake pledged

What if I invest in MASTERTR?

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 We do not publish price targets or predict returns.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
₹87 +2.45%
latest close · 2026-09-17
52-wk low ₹7742 sessions so far52-wk high ₹100
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 ratio7.8Low
LowAverageHigh
P/B ratio1.32Moderate
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity17.0%Strong
WeakFairStrong ▸15%
Net margin23.1%Strong
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.28Comfortable
LowModerateHigh ▸1
More figures
Market cap
₹1,076 cr
Book value
₹66
EPS
₹2.80
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
6.2%
Earnings yield
12.80%
P/S
1.80
Sales / share
₹48.7
Tax rate
25.1%
Face value
₹1
Shares
12.3 cr
Working capital
Current assets
Current liabilities
Delivery %
26.2%
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
Looks underpricedMedium confidence
Median of 2 models ₹129 vs market price ₹87 — price is 32% below it
Safety cushion+32.3%(target ≥ +20%)
Models span ₹93₹165, midpoint ₹129
Model ₹129
Price ₹87
Cheap sideExpensive side

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₹150 cr
Other Income₹0 cr
Total Income₹150 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹30 cr
Finance Costs₹15 cr
Depreciation & Amortisation₹1 cr
Other Expenses₹43 cr
Total Expenses₹104 cr
Profit before Tax₹46 cr
Tax Expense₹12 cr
Net Profit₹35 cr
Net margin on total income23.1%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹30 cr19.8%
Finance costs₹15 cr9.7%
Depreciation & amortisation₹1 cr0.7%
Other expenses₹58 cr39.0%
Tax expense₹12 cr7.7%
Profit for the period₹35 cr23.1%
Total income ₹150 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue137 cr181 cr150 cr
Total income137 cr181 cr150 cr
Expenses92 cr132 cr104 cr
Profit before tax45 cr49 cr46 cr
Tax13 cr13 cr12 cr
Net profit (owners' share)32 cr36 cr35 cr
Net margin (owners' share, on revenue)23.1%20.0%23.1%
EPS (₹)2.703.002.80
YoY (latest quarter): total income +13.8% · net profit +27.8%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹2,244 cr
Shareholder equity
₹817 cr
parent shareholders
Total debt
₹228 cr
Cash
₹88 cr
Cash flow · H1 FY26
Operating
₹24 cr
Investing
₹-100 cr
Financing
₹56 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
trailing 12 months
Dividend / share (TTM)
Last dividend
₹1
ex 21 Sep 2018
ActionDetailEx-date
Stock splitStock Split From Rs.5/- to Rs.1/-30 Oct 2024
Stock splitStock Split From Rs.10/- to Rs.5/-26 Aug 2019
Dividend₹1 / share21 Sep 2018
Dividend₹1 / share3 Oct 2013
Who owns it · 2026-06-30
16.9% pledged
Promoter
71.9%
FII / Foreign
0.0%
DII / Domestic
Retail / others
28.0%
Promoter stake down 0.6% over the last 9 quarters.
Smart-money activity
Insider trades
BoughtRAJINDER KUMAR SINGHANIA · Promoter and Director75.00 L · ₹60.5 cr10 Aug 26
BoughtHARJEET SINGH ARORA · Promoter and Director75.00 L · ₹60.5 cr10 Aug 26
SoldHARJEET SINGH ARORA · Promoters25.00 L · ₹14.1 cr31 Mar 26
Bulk / block deals
BoughtHRTI PRIVATE LIMITED · NSE6.46 L @ ₹95.0510 Jul 26
SoldHRTI PRIVATE LIMITED · NSE6.14 L @ ₹95.6910 Jul 26
SoldQE SECURITIES LLP · NSE6.97 L @ ₹91.189 Jul 26
Stake changes
BoughtHarneesh Kaur Arora · promoter→ 12.76% · 53.75 L5 Aug 25
BoughtRajinder Kumar Singhania · promoter→ 23.35% · 47.50 L5 Aug 25
BoughtChirag Singhania · promoter→ 0.96% · 6.25 L5 Aug 25
Promoter pledges
ReleasedMr. Harjeet Singh Arora75.00 L · 6.10% held10 Aug 26
ReleasedMr. Harjeet Singh Arora75.00 L · 6.10% held10 Aug 26
PledgedMr. Harjeet Singh Arora75.00 L · 0.00% held30 Jun 26
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 · 30 Sep 2025
See the official result
1
TO RECEIVE, CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS (STANDALONE AND CONSOLIDATED) OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31.03.2025, TOGETHER WITH THE REPORTS OF THE BOARD OF DIRECTORS AND THE AUDITORS' THEREON
Backed by 100% of shareholders other than promotersneeded 50%
1.60 cr votes for, 0 against
2
TO CONSIDER AND APPROVE THE APPOINTMENT OF M/S. POOJA M KOHLI & ASSOCIATES, COMPANY SECRETARY IN PRACTICE AS SECRETARIAL AUDITOR OF THE COMPANY FOR THE PERIOD OF FIVE TERMS FROM FINANCIAL YEAR 2025-26 TO 2029-30
Backed by 100% of shareholders other than promotersneeded 50%
1.60 cr votes for, 0 against
3
TO APPOINT A DIRECTOR IN PLACE OF MR. GURMEET SINGH CHAWLA(DIN 00087449), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT
Backed by 100% of shareholders other than promotersneeded 50%
1.60 cr votes for, 0 against
4
TO CONSIDER AND APPROVE THE FORMULATION, ADOPTION AND IMPLEMENTATION OF MASTER TRUST LIMITED EMPLOYEE STOCK OPTION PLAN 2025 AND GRANT OF EMPLYEE STOCK OPTIONS TO THE ELIGIBLE EMPLOYEES OF THE COMPANY UNDER THIS PLAN
Backed by 100% of shareholders other than promotersneeded 75%
1.60 cr votes for, 0 against

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 — 12 named members
owning 71.9% between them · as of 2026-06-30
RAJINDER KUMAR SINGHANIA23.35%
HARJEET SINGH ARORA12.90%
HARNEESH KAUR ARORA12.76%
JASHANJYOT SINGH ARORA8.07%
PARVEEN SINGHANIA8.05%
PUNEET SINGHANIA3.23%
PALKA ARORA CHOPRA2.03%
CHIRAG SINGHANIA0.96%

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.

₹100 cr raised in Feb 2024 by selling shares to selected investors

As of Sep 2025, the company says it has spent 100% of what it set aside.

The Company needs to raise additional funds to meet out the working capital requirement, business expansion and other general corporate purposes of the Company.
100%
₹100 cr of ₹100 cr

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.