5paisa Capital (5PAISA) Q4 24/25 earnings summary

Executive summary

• FY25 revenue was ₹3,598 Mn, down 9% YoY, while PAT rose 25% to ₹682 Mn, with margin improvement to 19% from 14% in FY24.

• Q4 FY25 saw significant industry-wide impacts from SEBI F&O regulations, leading to reduced trading volumes and income, with a 28% QoQ decline in new customer additions across the sector.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, were approved, with unmodified audit opinions issued by statutory auditors.

• Board approved re-appointment of a non-executive independent director and appointments of internal and secretarial auditors.

• Approval for issuance of secured/unsecured redeemable non-convertible debentures up to ₹250 crores via private placement, subject to AGM approval.

Financial highlights

• Consolidated revenue from operations for FY25 was ₹39,457.21 lacs, up from ₹35,957.01 lacs in FY24; consolidated net profit for FY25 stood at ₹6,823.31 lacs.

• Broking revenue declined 23% QoQ in Q4 FY25 due to lower derivative volumes; MTF income fell 11% after interest rate cuts; allied and other operating income dropped 8% and 11% respectively.

• Total expenses reduced by 9% QoQ to INR 580 million through cost optimization.

• Net worth surpassed INR 6 billion as of March 31, 2025.

• Q4 FY25 new customer acquisition was 91,000, a 19% QoQ decline.

Outlook and guidance

• Management expects normalization of markets and business performance over the next few quarters, aiming to return to historical profitability levels.

• Regulatory headwinds and market volatility expected to continue impacting trading volumes and income.

• Focus remains on digital platform enhancements, customer acquisition, and cross-sell opportunities.

• Emphasis on long-term profitability through high-quality client acquisition and improved payback periods.

• Detailed disclosures under SEBI-LODR Regulation 30 will be provided separately.