My Money Securities Limited is an Indian financial services firm specializing in capital market operations. The company serves as a bridge between traditional brokerage services and modern digital trading, operating as a member of the **National Stock Exchange of India Ltd. (NSE)** and the **Metropolitan Stock Exchange of India Ltd. (MSEI)**. Additionally, it functions as a **Depository Participant** with **Central Depository Services (India) Ltd. (CDSL)**. --- ### Core Revenue Streams and Market Specialization The company’s business model is anchored in the **Capital Market Business**, with a strategic focus on cash-based transactions over speculative derivatives. * **Broking Services:** Execution of trades in equity and currency segments. * **Depository Services:** Management of demat accounts and related custodial services through **CDSL**. * **Proprietary Dealing:** Strategic trading using the firm's own capital to enhance returns. * **Strategic Investments:** The company holds a **19.35%** stake in **My Money Credits (P) Ltd.**, providing an indirect footprint in the **Mutual Fund Distribution** sector. * **Regulatory Resilience:** Unlike many competitors heavily reliant on retail options trading, My Money Securities maintains a higher proportion of **cash broking** revenue. This structural mix resulted in **minimal impact** from the **SEBI 2024-2025 regulatory changes** designed to curb retail speculation in the F&O (Futures & Options) segment. ### The "Phygital" Growth Strategy The company is currently transitioning to a **Phygital Business Model**, a hybrid approach that combines digital efficiency with high-touch, knowledge-based advisory. This strategy aims to differentiate the firm from low-cost discount brokers. * **Knowledge-Based Advisory:** Deployment of **dedicated advisory desks** and **system-driven trading products** to cater to mass-retail and affluent clients. * **Infrastructure Expansion:** * **Registered Office:** Located in **Civil Lines, Delhi** (Lease valid until **March 31, 2032**). * **Branch Network:** Active presence in **Dhobi Talao, Mumbai**. * **New Footprints:** Recently established an office at **Emaar Colonade, Gurgaon**, with a roadmap to open further offices over the next **2 to 3 years**. * **Asset-Based Focus:** Prioritizing the distribution of asset-based products to build long-term client wealth rather than focusing solely on transaction volume. ### Financial Trajectory and Capital Structure The company has experienced exponential growth in revenue and profitability over the last three fiscal years, benefiting from the rapid financialization of Indian domestic savings. **Comparative Financial Performance (₹ in thousands)** | Metric | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Broking Revenue** | **147,111.16** | **31,788.10** | - | | **Total Income** | **153,649.84** | **36,792.83** | **10,150.71** | | **Profit After Tax (PAT)** | **68,931.02** | **20,818.51** | **2,634.20** | | **Net Worth** | **266,007.00** | **197,076.00** | - | | **Basic EPS (₹)** | **4.103** | **1.2392** | - | **Key Financial Observations:** * **Profitability:** The company achieved a **231% PAT growth** between FY24 and FY25. * **Investment Gains:** For the nine months ended **December 31, 2025**, the company reported a **net mark-to-market profit** of **₹148.15 crore** on its investment portfolio. * **Capital Base:** As of **March 31, 2025**, the **Paid-up Equity Share Capital** was **₹168,003,000** (**1,68,00,300 shares** at **₹10/- each**). * **Equity Dilution/Conversion:** In **April 2024**, **500,000 equity shares** were allotted following warrant conversions, following a larger conversion of **1,900,000 shares** in **March 2023**. * **Dividend Policy:** The Board has opted to retain earnings for growth, recommending **no dividend** for **FY 2023-24** or **FY 2024-25**. ### Operational Infrastructure and Liquidity Management To support its scaling operations, the company has modernized its capital management and asset oversight. * **Liquidity Support:** In **February 2025**, the Board approved a **Bank Guarantee (BG) of ₹5 crores** to meet operational requirements. This move aligns with the **September 2023** regulatory mandate prohibiting the use of client funds for BGs. * **Banking Partners:** Primary operations are supported by **Canara Bank** and **Punjab National Bank**. * **Asset Management:** Fixed assets are physically verified on a **three-year cycle**. Notably, the company has **not revalued** its Property, Plant, and Equipment (PPE) or Intangible Assets in the recent reporting period. ### Governance and Leadership Profile The company is strengthening its leadership to navigate complex **SEBI (LODR)** and **Companies Act** requirements. | Position | Name | Professional Background | | :--- | :--- | :--- | | **Managing Director** | **Mr. Vikas Seth** | Executive Leadership & Strategy | | **WTD & CFO** | **Mr. Sanjai Seth** | Finance & Operational Oversight | | **Independent Director (Chair)** | **Mr. Vishal Agarwal** | Governance & Board Oversight | | **Independent Director** | **Mr. Praveen Dua** | **CS** & **Insolvency Professional** (31+ years exp.) | | **Independent Director (Addl.)** | **Mr. Rakesh** | **CS** & **LLB** (Governance & IPO specialist) | * **Audit Committee:** Reconstituted in **May 2025** under the chairmanship of **Mr. Praveen Dua** to ensure strict compliance with **Section 177 of the Companies Act, 2013**. * **Board Refreshment:** Following the simultaneous resignation of two Independent Directors in **February 2024**, the company has actively recruited specialists like **Mr. Rakesh** (effective January 2026) to bolster governance. ### Risk Factors and Mitigation Framework The company operates in a high-compliance environment where internal oversight is critical to stability. | Risk Category | Current Status / Challenge | | :--- | :--- | | **Internal Audit** | **M/s Prem Amar & Co** ceased operations due to partner unavailability; appointment of a successor is a priority. | | **Regulatory Shift** | Transitioning to **ASBA-like** settlement and shortened cycles requires robust tech infrastructure. | | **Cost Pressures** | Rising **salaries** and **marketing expenses** associated with the "Phygital" expansion. | | **Governance** | Ensuring the **Nomination and Remuneration Policy** remains competitive to retain senior talent. | **Risk Management Approach:** The **Risk Management Committee**, led by the **MD** and **CFO**, is responsible for identifying "risk owners" and finalizing mitigation plans. The primary focus remains on maintaining business continuity despite the temporary disruption in the internal audit function and ensuring all material related-party transactions (such as lease deposits) are regularized.