DB (International) Stock Brokers Limited (DBSTOCKBRO)
₹31.23 +0.64% last close, 16 Oct
Q2 FY27 results
📅 Next results: 21 Oct 2026 (board meeting)DB (International) Stock Brokers Limited's board meets on 21 Oct 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, DB (International)'s revenue was ₹10.3 Cr (+48.5% year on year, +70.0% on the previous quarter), and net profit ₹0.9 Cr (-14.5% year on year); the operating margin was 15.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹10.3 | +48.5% | +70.0% |
| Operating profit | ₹1.6 | -14.8% | +37.9% |
| Net profit | ₹0.9 | -14.5% | +275.6% |
| EPS (₹) | 0.25 | -13.8% | +257.1% |
| Operating margin | 15.7% | — | — |
DBSTOCKBRO delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 99.34% of the DBSTOCKBRO shares traded on NSE were taken to delivery, against the stock's own 20-session average of 78.77%. That is higher than usual for this stock. Turnover was only ₹2 lakh, so a handful of trades can move this figure. It closed at a price band (circuit) on 4 sessions in about the last 20.
Delivery in the last 5 sessions: 61.5% · 74.7% · 97.2% · 81.7% · 99.3%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
DB (International) Stock Brokers Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from Registrar and Transfer Agent Abhipra Capital Limited confirms that all securities received for dematerialisation during the quarter were processed, accepted/rejected, listed on exchanges, and mutilated as required. This is a standard quarterly administrative filing confirming normal depository operations. There is no financial or operational impact on the business.
- Compliance certificate submitted under Regulation 74(5) for the quarter ended September 30, 2026
- Certificate received from RTA Abhipra Capital Limited dated October 05, 2026
- Confirmed that dematerialised security certificates were duly mutilated, cancelled, and listed
DB (International) Stock Brokers Limited concluded its 34th Annual General Meeting on September 29, 2026. All items of business, including the adoption of FY26 financial statements and the re-appointment of Managing Director Shiv Narayan Daga, were passed unanimously with 100% of the 2,66,77,159 votes cast in favor. A total of 83 shareholders attended the meeting via video conferencing. The voting outcome represents standard administrative compliance with no material strategic shifts.
- 100% of the 2,66,77,159 votes cast were in favor of both ordinary resolutions with zero opposing votes.
- Promoter group cast 1,44,12,127 votes, while public non-institutional shareholders cast 1,22,65,032 votes.
- A total of 83 shareholders (6 promoter, 77 public) attended the AGM held on September 29, 2026.
- Total voting share capital represented was 76.22% of total shares.
DB (International) Stock Brokers has approved a proposal to transfer its major client business—spanning trading, depository participant, mutual funds, and other financial products—to a prospective buyer. CMD Shiv Narayan Daga has been authorized to identify buyers, negotiate commercial terms, and enter into agreements. The transaction will be subject to shareholder approval at an upcoming EGM alongside applicable regulatory consents. Key transaction details such as deal valuation, buyer identity, and precise perimeter were not disclosed in this initial filing.
- Board approved the transfer of major client business covering Trading, DP, and Mutual Funds on September 17, 2026
- CMD Shiv Narayan Daga authorized to identify prospective buyers and negotiate terms
- Transaction subject to shareholder approval at an Extra-ordinary General Meeting and regulatory clearances
- Board meeting held on September 17, 2026, commencing at 09:30 AM and concluding at 10:13 AM
- Deal valuation, pricing metrics, and buyer identity remain not disclosed
DB (International) Stock Brokers Limited has re-published its 34th Annual General Meeting (AGM) notice in a vernacular newspaper on September 08, 2026. This follows an initial publication on September 05, 2026, which mistakenly appeared in English instead of the vernacular language. This filing is purely a procedural compliance update under Regulation 30 of SEBI LODR, with no impact on the company's financials or operations.
- Notice pertains to the 34th Annual General Meeting of the company
- Corrects an inadvertent printing error from the previous publication dated September 05, 2026
- Re-published in the vernacular newspaper in the required vernacular language on September 08, 2026
DB (International) Stock Brokers Limited has issued the notice for its 34th Annual General Meeting (AGM), scheduled for September 29, 2026, via Video Conferencing. Key ordinary business items include the adoption of FY26 audited standalone and consolidated financial statements and the re-appointment of Managing Director Shiv Narayan Daga, who retires by rotation. The cut-off date for remote e-voting eligibility is set for September 22, 2026. This is a standard annual corporate compliance filing.
- 34th Annual General Meeting scheduled for Tuesday, September 29, 2026 at 10:30 a.m. IST via Video Conferencing
- Cut-off date for voting rights and e-voting participation fixed as Tuesday, September 22, 2026
- Ordinary business includes re-appointment of MD Shiv Narayan Daga, who holds an 18.89% equity stake as of March 31, 2026
- Remuneration drawn by Managing Director Shiv Narayan Daga in the previous year was Rs. 47,60,000
DB (International) Stock Brokers Limited has approved the voluntary surrender of its membership with the Metropolitan Stock Exchange of India (MSEI) as of August 10, 2026. The company concurrently reported its Q1 FY27 standalone results, showing a revenue increase to ₹9.31 Cr from ₹6.92 Cr in the previous year's corresponding quarter. However, standalone PAT for the quarter declined to ₹0.86 Cr from ₹1.06 Cr YoY, primarily due to higher operating and employee expenses. The company maintains its core memberships with NSE, BSE, and MCX, stating the MSEI exit will not impact operations.
- Voluntary surrender of MSEI membership which was originally granted on April 08, 2026.
- Standalone revenue for Q1 FY27 grew 34.5% YoY to ₹9.31 Cr from ₹6.92 Cr.
- Standalone PAT for Q1 FY27 decreased to ₹0.86 Cr compared to ₹1.06 Cr in Q1 FY26.
- Total expenses for the quarter rose significantly to ₹8.23 Cr from ₹5.54 Cr in the year-ago period.
- Net gain on fair value changes contributed ₹5.35 Cr to the total income for the quarter ended June 30, 2026.
DB (International) Stock Brokers reported a standalone total income of ₹9.31 cr for Q1 FY27, a 34.5% increase from ₹6.92 cr in Q1 FY26. Despite the revenue growth, standalone Net Profit declined to ₹0.86 cr from ₹1.06 cr in the same period last year, impacted by higher employee expenses which rose to ₹2.06 cr. The company also announced the voluntary surrender of its Metropolitan Stock Exchange of India (MSEI) membership, effective from its grant date of April 08, 2026, stating it will have no operational impact. The board has authorized key managerial personnel for materiality determination under SEBI Regulation 30.
- Standalone total income for Q1 FY27 rose to ₹9.31 cr compared to ₹6.92 cr in Q1 FY26.
- Standalone Net Profit for the quarter ended June 2026 stood at ₹0.86 cr, down from ₹1.06 cr YoY.
- Employee expenses increased by 23.3% to ₹2.06 cr in Q1 FY27 from ₹1.67 cr in the previous year's quarter.
- Net gain on fair value changes contributed ₹5.35 cr (57% of total income) in Q1 FY27.
- Voluntary surrender of MSEI membership which was originally granted on April 08, 2026.
DBSTOCKBRO reported a 34.5% YoY increase in total income to ₹9.31 Cr for Q1 FY27, largely driven by a 67% surge in 'Net gain on fair value changes' which reached ₹5.35 Cr. Despite the top-line growth, Net Profit (PAT) declined 19% YoY to ₹0.86 Cr as total expenses jumped 48.5% to ₹8.23 Cr. Core revenue from operations showed a modest 8.3% growth to ₹2.56 Cr. The company also announced the voluntary surrender of its Metropolitan Stock Exchange of India (MSEI) membership, citing no operational impact.
- Total Income increased 34.5% YoY to ₹9.31 Cr for the quarter ended June 30, 2026
- Net Profit (PAT) declined to ₹0.86 Cr from ₹1.06 Cr in the previous year's corresponding quarter
- Net gain on fair value changes contributed ₹5.35 Cr, accounting for 57.5% of total income
- Total expenses rose significantly to ₹8.23 Cr compared to ₹5.54 Cr in Q1 FY26
- Operating revenue grew by 8.3% YoY to ₹2.56 Cr from ₹2.37 Cr
DB (International) Stock Brokers Limited has announced the cessation of Mr. Milap Chand Bothra as an Independent Director effective July 21, 2026. The departure is a routine event resulting from the completion of his scheduled tenure. The company, which has a market capitalization of ₹122 Cr and TTM revenue of ₹28 Cr, continues its focus on GIFT City expansion. This administrative change is not expected to impact the company's operational strategy or financial performance.
- Cessation effective from the close of business hours on July 21, 2026
- Reason for exit is the completion of the director's tenure
- Company maintains a market capitalization of ₹122 Cr
- TTM Revenue stands at ₹28 Cr with an OPM of 24.4%
DB (International) Stock Brokers Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by Registrar and Transfer Agent (RTA) Abhipra Capital Limited, confirms that securities received for dematerialization during the quarter ended June 30, 2026, were processed as per regulations. This includes the mutilation of physical certificates and the substitution of depository names in the company's records. This is a standard administrative filing required for all listed entities to ensure the integrity of electronic shareholding.
- Compliance certificate issued for the quarter ended June 30, 2026
- RTA Abhipra Capital Limited issued the confirmation on July 08, 2026
- Confirms that dematerialized securities are listed on the stock exchanges where earlier securities were listed
- Verification that physical certificates were mutilated and cancelled after dematerialization
DB (International) Stock Brokers Limited has announced the closure of its trading window starting July 01, 2026, in accordance with SEBI (Prohibition of Insider Trading) Regulations. This closure is a standard procedure ahead of the declaration of the company's un-audited standalone and consolidated financial results for the quarter ending June 30, 2026. The window will remain closed for all designated persons and their immediate relatives. The restriction will be lifted 48 hours after the financial results are officially announced to the exchanges.
- Trading window closure effective from July 01, 2026.
- Closure pertains to the un-audited financial results for the quarter ended June 30, 2026.
- Window remains closed until 48 hours after the results are declared.
- Board meeting date for result consideration to be announced separately.
DB (International) Stock Brokers Limited has approved its audited standalone and consolidated financial results for the fourth quarter and the full financial year ended March 31, 2026. The statutory auditors, ATK & Associates, issued an unmodified opinion, confirming the financial statements present a true and fair view of the company's performance. Additionally, the board approved the appointment of Ms. Uttama as the new Company Secretary. The board meeting was held on April 21, 2026, and concluded within approximately one hour.
- Approved audited standalone and consolidated financial results for the fiscal year ended March 31, 2026.
- Statutory auditors issued an unmodified opinion on the financial results, indicating no major accounting discrepancies.
- Appointed Ms. Uttama as the Company Secretary and Compliance Officer effective April 21, 2026.
- The board meeting commenced at 03:30 p.m. and concluded at 04:33 p.m. at Noida, Uttar Pradesh.
DB (International) Stock Brokers Limited has approved its audited standalone and consolidated financial results for the fourth quarter and the full financial year ended March 31, 2026. The statutory auditors, ATK & Associates, issued an unmodified opinion, confirming that the financial statements provide a true and fair view of the company's performance. Additionally, the board announced the appointment of Ms. Uttama as the new Company Secretary. The meeting concluded on April 21, 2026, marking the completion of the annual financial reporting cycle.
- Approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026.
- Statutory auditors provided an unmodified opinion on the financial results, indicating no major accounting discrepancies.
- Appointment of Ms. Uttama as the Company Secretary effective from April 21, 2026.
- The board meeting was held at WASME House, Noida, and concluded within approximately one hour.
DB (International) Stock Brokers Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar and Transfer Agent Abhipra Capital Limited, covers the fourth quarter and the full financial year ended March 31, 2026. It confirms that all share dematerialization requests were processed and security certificates were mutilated and cancelled within the mandated 15-day period. This is a standard regulatory filing confirming the integrity of the company's share registry processes.
- Compliance certificate submitted for the quarter and financial year ended March 31, 2026
- Confirmation that dematerialization requests were processed and listed on stock exchanges
- Security certificates were mutilated and cancelled within the statutory 15-day timeline
- Issued by Abhipra Capital Limited, the company's Registrar and Transfer Agent (RTA)
DB (International) Stock Brokers Limited has announced the resignation of Mr. Shiv Singh from the position of Company Secretary and Compliance Officer. The resignation, submitted on March 29, 2026, is effective from the close of business hours on April 8, 2026. As a Key Managerial Personnel (KMP), his departure requires the company to appoint a successor to ensure regulatory compliance. The company is currently in the process of identifying a replacement to facilitate a smooth transition.
- Mr. Shiv Singh resigned as Company Secretary and Compliance Officer effective April 8, 2026.
- The resignation is attributed to personal reasons with no other material concerns cited.
- The outgoing officer requested a shortened notice period of approximately 10 days.
- The company has officially initiated the process to identify and appoint a replacement KMP.
Financial Performance
Revenue Growth by Segment
Consolidated revenue for H1 FY26 fell 40.4% to INR 14.97 Cr. Fees and Commission income dropped 48.6% to INR 5.09 Cr, Interest income fell 36.0% to INR 2.81 Cr, and Net gains on fair value changes decreased 34.7% to INR 7.08 Cr.
Geographic Revenue Split
Not explicitly disclosed, but operations are based in Noida, Uttar Pradesh and GIFT City, Gujarat, with 100% of revenue generated in India.
Profitability Margins
Net Profit Margin improved to 13.46% in H1 FY26 from 12.19% in H1 FY25, despite lower revenue, due to a significant reduction in total expenses to INR 12.34 Cr from INR 21.07 Cr.
EBITDA Margin
Estimated EBITDA margin of 25.3% for H1 FY26, down from 39.3% in H1 FY25, reflecting a decline in core profitability due to a 40.4% drop in total revenue.
Capital Expenditure
Capital expenditure for H1 FY26 was INR 0.066 Cr (INR 6.59 Lakhs), primarily for property, plant, and equipment.
Credit Rating & Borrowing
Total borrowings stood at INR 2.65 Cr as of September 30, 2025, with finance costs of INR 0.57 Cr for the half-year period; credit rating is not disclosed.
Operational Drivers
Raw Materials
Not applicable for financial services; primary costs are Employee Benefits (INR 3.45 Cr) and IT/Operating expenses (INR 6.86 Cr).
Key Suppliers
Not applicable; key service providers include stock exchanges (NSE, BSE) and depositories (CDSL).
Capacity Expansion
Not applicable for stockbroking services; current focus is on expanding the GIFT City subsidiary's operations.
Raw Material Costs
Not applicable; employee benefits represent 23.1% of total revenue.
Strategic Growth
Growth Strategy
The company plans to achieve growth by expanding its presence in GIFT City through its subsidiary, Daga Business (International) Stock Brokers (IFSC) Private Limited, and by increasing its focus on Mutual Fund distribution (ARN-2116) and IPO/Bond sourcing to diversify revenue away from volatile trading commissions.
Products & Services
Equity trading, Futures & Options (F&O), Commodity trading (MCX), Depository services (CDSL), Mutual Fund distribution, and IPO/Bond distribution.
Brand Portfolio
DB Online, DB (International) Stock Brokers.
Market Expansion
Focus on GIFT City (IFSC) to capture international market access and offshore investor capital.
Strategic Alliances
Wholly owned subsidiary: Daga Business (International) Stock Brokers (IFSC) Private Limited.
External Factors
Industry Trends
The industry is growing at ~20-25% in terms of new demat accounts, but disrupting due to low-cost digital competitors. DBSTOCKBRO is positioning for the future by establishing an IFSC presence in GIFT City.
Competitive Landscape
Competes with major full-service brokers and rising discount brokerage platforms like Zerodha and Groww.
Competitive Moat
Moat is based on regulatory licenses (GIFT City IFSC, CDSL Depository Participant) which are sustainable due to high compliance barriers and specialized infrastructure requirements.
Macro Economic Sensitivity
Highly sensitive to stock market indices, retail participation trends, and interest rate fluctuations.
Consumer Behavior
Shift towards self-directed online trading and increased retail allocation to financial assets like Mutual Funds.
Geopolitical Risks
Global geopolitical tensions affecting Foreign Institutional Investor (FII) flows and domestic market sentiment.
Regulatory & Governance
Industry Regulations
The Code on Social Security 2020 (assented Sept 2020, pending notification) will impact employee benefit costs and compliance standards.
Taxation Policy Impact
Effective tax rate of 23.3% for H1 FY26; potential tax benefits from GIFT City IFSC operations.
Legal Contingencies
Not disclosed in available documents; auditors reported no material misstatements in the limited review.
Risk Analysis
Key Uncertainties
Market volatility impacting fair value gains (47% of revenue) and potential regulatory changes in the F&O segment by SEBI.
Geographic Concentration Risk
100% India-based operations, primarily in Noida (UP) and GIFT City (Gujarat).
Third Party Dependencies
High dependency on stock exchanges (NSE/BSE) and depositories (CDSL) for core operations.
Technology Obsolescence Risk
High risk requiring constant IT upgrades to trading platforms to remain competitive with discount brokers.
Credit & Counterparty Risk
Trade receivables increased 1,362% from INR 0.88 Cr in March 2025 to INR 12.83 Cr in September 2025, indicating heightened credit exposure.
