AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Resignation of Director 30 Sep - Ameya Agnihotri resigned as Whole-Time Director and CTO, effective September 30, 2026.
Source: Bse
5Paisa Capital Limited (5PAISA)
Small CapFinancial Services stocks · Small cap · NSE
5paisa Capital Limited provides financial products via its online tech platform and mobile apps. Registered as a stockbroker, depository participant, and research analyst, it targets retail investors and high-volume traders with DIY, low-cost services. Focuses on innovation, tech superiority, AI-powered robo-advisory, and paperless account opening.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals16 Oct 2026 · screener
Latest result15 Oct, 07:04 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
50NeutralSMA20 -4.5% / mo · MACD +
Stock trend: 54
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
5PAISAD candles · FIT view+3.9%Latest close ₹338.15 on 2026-10-19
Bar
-2.4%
RSI
50
MACD hist
2.69
52W pos
54%
2026-10-19O ₹346.55H ₹349.40L ₹335.15C ₹338.15Vol 24,297 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
5PAISANifty Financial ServicesNifty 500
- 5PAISA
- -10.5%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -4.9 pp
Chart stats
19 Oct 2026- From 52W high
- -18.9%
- 52W range position
- 54%
- ATR (14)
- 4.9%
- Volume vs 20D
- 0.15x
- Avg traded value
- ₹5.8 Cr
- 20D price channel
- ₹299 - ₹382
₹417
₹245.5 - ₹417
₹16.7
Latest completed session
20-session average
55.9% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED30
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +12.2% · PAT -21.6% YoY
Technical
Neutral50
Price trend and sector-relative-strength timing.
Valuation
Legacy model-48.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence55
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Bad · 0/100PAT -22% YoY · margin compression · Rev +12% YoY
Filed 15 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹86.4 Cr | +12.2% | -1.8% |
| EBITDA | ₹21.8 Cr | -5.3% | -16.2% |
| Operating margin | 25.2% | -480 bps | -480 bps |
| PAT | ₹7.1 Cr | -21.6% | -41.2% |
| PAT margin | 8.2% | -352 bps | -547 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 38.90
- P/B
- 1.43
- EV/EBITDA
- 17.85
- Market Cap
- 1624.00Cr
Profitability
- ROE
- 7.04%
- ROCE
- 9.94%
- ROA
- 1.93%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 10.00%
- EPS 5Y
- 25.00%
- Revenue 3Y
- -2.00%
- EPS 3Y
- -8.46%
Balance Sheet
- Debt/Equity
- 0.28
- Interest Coverage
- 2.86×
- Altman Z
- 2.14
- Book Value
- 242.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 4/5
- OCF
- -104.00 Cr
- EPS TTM
- 8.92
Shareholding
- Promoter Hold
- 36.50%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 59%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 86.4-1.8% vs prev
Net Profit
₹ CrLatest: 7.1-41.2% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term uptrend intact. RSI 50.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~4.7% over last month) — short-term momentum negative.
- RSI(14) at 50 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 19% off 52W high · 38% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
65
RS percentile
Stage 1 Base / Transition
1M return
+5.2%
3M return
-10.5%
6M return
-0.1%
1Y return
+6.8%
RS 1D
-3
RS 20D
+12
Sector rank
#10
Industry rank
#67
Stage evidence
- Price is within 0.7% of the 30-week proxy.
- The 30-week proxy changed +0.9% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
weakening
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 101.1-1.41%
RS vs Nifty 500101
Valuation & peers
U-Score 30 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 30 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation1/30
Growth17/25
Quality0/20
Balance Sheet6/15
Cash Flow3/10
Piotroski
5/9 (+3)
Penalties
0
Raw sum
30
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
30/100 · legacy band OVERVALUED
Positive drivers
- Growth contributes 17/25 to the score.
- Balance sheet contributes 6/15 to the score.
- Cash flow contributes 3/10 to the score.
Main drags
- Fair-value margin of safety is negative at -48.7%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Valuation is weaker at 1/30; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
38.9
PB
1.4
EV/EBITDA
17.9
ROE
7.0%
ROCE
9.9%
FCF Yield
—
Debt/Equity
0.3
MoS
-48.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
30
Previous: 30
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-48.7%
Previous: -48.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
28
28
28
28
28
28
30
30
30
30
30
30
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹220.38
-53.4% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹227.46
-48.7% MoS
PEG
1.56
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ARMANFIN
Small
Arman Financial Services Limited
NBFC
match 142
39
15.9
6.3%
+46%
WATCHLIST
AKCAPIT
Small
AK Capital Services Limited
NBFC
match 140
43
10.2
11.0%
+48%
WATCHLIST
CENTRUM
Small
Centrum Capital Limited
NBFC
match 139
35
—
-25.9%
-97%
WATCHLIST
FINKURVE
Small
Finkurve Financial Services Limited
NBFC
match 139
20
32.7
9.4%
-28%
OVERVALUED
GICHSGFIN
Small
GIC Housing Finance Limited
NBFC
match 138
30
4.5
7.6%
+24%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-10-07T07:21:12.149Z
Management commentary snapshot
5paisa Capital reported Q1FY27 consolidated income of Rs. 88.4 crore, up 3% QoQ and 14% YoY. Profit after tax grew 8% QoQ to Rs. 11.6 crore, but only 1% YoY. Client acquisition and ADTO saw QoQ declines, while MTF book grew.
While financial results show QoQ growth in income and PAT, key business metrics like client acquisition and average daily turnover (ADTO) declined sequentially. The significant capital raise is positive, but its deployment and impact on future growth need close monitoring, especially given market volatility and increased operating expenses.
Current business mix
Revenue Mix by Source
Latest issuer-disclosed distribution across 3 reported categories.
Broking45.0%
Allied Broking24.0%
Other Operating Income31.0%
Growth engines
AI-led Capabilities
Continued investment in AI-led capabilities, AI-native platform, AI insights & research, AI-powered algos, and conversational advisory.
Product Depth & Platform Reliability
Focus on building a stronger, technology-led 5paisa for active traders and long-term investors, with enhanced product suite and app experience.
AlgoSpace Platform
Launched AlgoSpace on June 20, 2026, offering pre-built strategies, no coding required, zero platform fees, and seamless execution for retail traders.
Digital Onboarding & Ecosystem
Scaled digital onboarding, acquired 1 Mn clients, launched FNO360, Web Trade Station 2.0, Xtreme API, and expanded partner model.
Capacity and execution
Capital Raise via Rights Issue
Raised ₹468.8 Cr through issuance of 1,56,27,419 fully paid-up equity shares by way of a rights issue in April 2026.
Tailwinds
Rising Demat Accounts
7 Mn demat accounts opened in Q1 FY27, driven by digitization, investor awareness, and improved market access.
Increased DII & Retail Ownership
Individual investors' direct holding in NSE listed companies grew marginally from 9.0% to 9.1% over the last 6 years.
Derivative ADTO Growth
Derivative Average Daily Turnover (ADTO) has seen an exponential rise at 48.3% CAGR over the last 6 years.
Headwinds
Market Volatility
Management stated, 'The market is volatile and we continued to invest in product depth, platform reliability, customer experience, AI-led capabilities, and monetization.'
Decline in Active NSE Clients
Active NSE clients declined to 44.2 million in Q1 FY'27.
Regulatory Changes Impact
Regulatory changes like weekly expiry, limitation, and lot size revision have impacted the industry.
Risk radar
Operating Expense Growth
Operating expenses increased by 17% y-o-y, outpacing total income growth of 14% y-o-y.
Client Acquisition & ADTO Decline
Client acquisition declined 28% QoQ and Avg Daily Turnover (Notional) declined 12% QoQ, indicating potential slowdown in core business momentum.
Market Volatility
The market is volatile, which can impact trading volumes and investor participation, affecting brokerage income.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The company provides both QoQ and YoY comparisons for financial results, indicating the importance of sequential momentum in a volatile market and annual growth trends. Business metrics are primarily presented QoQ.
Sector KPIs management disclosed
Mutual Fund AUM
Mutual Fund AUM: ₹2,073 Cr (▲ +18% QoQ)
Avg Client Funding Book (MTF)
Avg Client Funding Book: ₹4,216 Mn (▲ +3% QoQ)
Client Acquisition
Client acquisition: 74K (▼ -28% QoQ)
Avg Daily Turnover (Notional)
Avg Daily Turnover (Notional): ₹3.04 Tn (▼ -12% QoQ)
Management forward view
Disciplined Execution & Strategic Investments
Q1 FY27 was a quarter of disciplined execution and strategic investments. We continued to invest in product depth, platform reliability, customer experience, AI-led capabilities, and monetization.
Building a Stronger, Tech-led Platform
Our focus is to build a stronger, technology-led 5paisa for both active traders and long-term investors.
Optimizing Tech Stack
Optimize existing tech stack to enhance performance, scalability, and reliability.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Client Acquisition | 0.74 lakh new clients (down 28% QoQ) | Reversal of QoQ decline and sustained growth in new client additions. |
| Avg Daily Turnover (ADTO) | ₹3.04 Tn (down 12% QoQ) | Stabilization and growth in ADTO, especially in derivatives, indicating improved market participation and platform usage. |
| Operating Expenses vs. Income Growth | Operating expenses up 17% YoY vs. income up 14% YoY. | Operating expense growth to align with or be lower than income growth to improve profitability. |
| Capital Deployment Impact | Raised ₹468.8 Cr via rights issue in April 2026. | Clear articulation and execution of capital deployment strategy and its impact on business growth and profitability. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
55Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 16th percentile of the scored universe and 28th percentile within Financial Services. Main check: results consistency is weak at 27/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
110 docs text-extracted · 43 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
16th percentile
overall median 67 · Financial Services: 28th pctile, median 62 · Small: 18th pctile, median 66
Evidence depth
Financial-only
110 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
82
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
65
acceptable · leverage and solvency
Discipline
42
weak · capital discipline
Results
27
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 3.8%.
- ▸4 years of positive FCF.
Trust risks
- ▸Operating cash flow is negative at ₹-104 Cr.
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸ROE is low at 7%.
- ▸ROCE trend is -2.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching 5Paisa Capital Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Management 30 Sep - Ameya Agnihotri resigned as Whole-Time Director and CTO effective September 30, 2026.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 30 Sep - Ameya Agnihotri resigned as Whole-Time Director and CTO, effective September 30, 2026.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Management 18 Sep - Abhinav Agarwal resigned as Head - Investing Product effective September 18, 2026.
Source: Bse
Annual reportSep 2026
Sep 2026 · Letter To Members In Relation To Notice Of The AGM And Annual Report 7 Aug - 5paisa Capital will hold its 19th AGM on September 1, 2026; FY25-26 annual report shared.
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 26 Aug - CRISIL reaffirmed ratings on facilities, enhanced commercial paper to ₹400 crore, and assigned ₹50 crore NCD rating.
Source: Bse
Annual report
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Aug - 5Paisa Capital Limited has informed about Newspaper Advertisment intimating dispatch of AGM notice, Annual Report and e-voting information
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 4 May - Income tax authority raised ₹33.03 crore demand; company plans to appeal.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.