5paisa Capital (5PAISA) Q2 25/26 earnings summary

Executive summary

• Q2 FY 2026 saw volatile equity markets due to tariff uncertainties, FII outflows, and geopolitical tensions, impacting investor sentiment and market participation.

• Customer base reached 5.01 million as of Q2FY26, with 95,000 new clients acquired, up 20% quarter-over-quarter.

• Major product and platform enhancements were rolled out, including upgraded digital onboarding, strategy analyzers, and expanded margin trading facilities.

• Unaudited consolidated and standalone financial results for the quarter and half year ended September 30, 2025, were approved and released, with statutory auditor review and unmodified reports issued.

• Customer satisfaction remains high with a CSAT score of 94% and app rating of 4.2.

Financial highlights

• Q2 FY26 revenue was ₹773 million (down 1% QoQ, down 23% YoY); net profit for the quarter was ₹95 million, down 18% sequentially.

• Average daily turnover rose 19% quarter-on-quarter to ₹2.67 trillion.

• Mutual fund AUM increased 4.7% sequentially to ₹1,647 million.

• Consolidated revenue from operations for H1 FY26 was ₹1,548.59 million, compared to ₹2,030.33 million in H1 FY25.

• Net worth as of September 30, 2025: ₹6,263 million.

Outlook and guidance

• No formal revenue or growth guidance provided due to market dependency, but management expects H2 to be better if market conditions improve.

• Focus on expanding wallet share through mutual funds, margin trading, and new product launches, with strategic emphasis on monetizing older client cohorts and unlocking new markets.

• The company is in the process of responding to regulatory and tax notices, with potential financial impact undetermined at this stage.