Choice International (531358) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue from operations was Rs 75,068.47 lakh and net profit was Rs 13,085.88 lakh, versus Rs 38,919.26 lakh and Rs 6,006.79 lakh in FY23.

• Diversified financial-services platform covered broking and distribution, NBFC lending, insurance distribution and advisory, with 115 offices across 22 states and UTs.

Financial highlights

• Q4 FY24 revenue from operations was Rs 21,454.76 lakh, up 56% YoY; EBITDA was Rs 6,936 lakh, up 46%, and net profit was Rs 3,939.59 lakh, up 30%.

• Q4 FY24 EBITDA margin was 32% versus 34% YoY; EBIT margin was 31% versus 33%, and PAT margin was 18% versus 22%.

• FY24 consolidated PBT was Rs 18,079.66 lakh, up from Rs 8,195.16 lakh; standalone FY24 PAT was Rs 139.76 lakh, versus Rs 228.90 lakh.

Segment performance

• FY24 Broking Services revenue was Rs 45,459.15 lakh and segment PBT Rs 9,146.87 lakh; Advisory Services revenue was Rs 24,843.90 lakh and segment PBT Rs 8,952.96 lakh.

• FY24 NBFC Services revenue was Rs 8,684.53 lakh and segment PBT Rs 834.65 lakh, versus Rs 4,704.34 lakh and Rs 1,153.56 lakh in FY23.

• Stock broking had 848K demat accounts, up 25% YoY; broking AUM was Rs 353 Bn, up 31%, and wealth-products AUM was Rs 6,249 Mn, up 72%.

• Q4 insurance premium generated was Rs 625 Mn, up 212% YoY; policies sold reached 14,567, up 109%. Advisory order book was Rs 5.80 Bn, up 53% YoY.