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Algoquant Fintech Ltd

ALGOQUANT

NSE

₹72.83+1.12%19 Oct 2026

Reports

Finance and Investments Others

Algoquant Fintech Ltd

ALGOQUANT

NSE

₹72.83

+1.12%

19 Oct 2026

SOICxStockScans Reports

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Finance and Investments Others

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Algoquant Fintech is a technology firm that trades its own money in Indian stock, commodity and currency markets using computer programs designed to capture tiny, low-risk price differences - a practice known as arbitrage. The company was once a hand-tool factory that shut down after its only manufacturing facility closed in 2017, leaving it with no active business until a new management team with deep roots in Indian capital markets took control in early 2021 and pivoted it entirely to algorithmic trading. Everything the company does flows from a single, recurring approach: build or acquire a technology-first capability, run it with ultra-low-latency systems, and then use that infrastructure to expand into adjacent financial services.

Business segments

Two engines at different stages - a proprietary trading desk that generates the firm's own returns, and a newly acquired stock-broking platform that extends the same technology to external clients.

1. Proprietary trading: the firm's own money at work

The company runs computer-driven strategies that trade its own capital across equities, commodities and currencies, aiming to earn returns from fleeting price gaps rather than from predicting market direction.

Algorithmic arbitrage at scale - the firm deploys proprietary high-frequency trading algorithms across all Indian exchanges to capture low-risk arbitrage opportunities, a strategy it describes as its core strength and one that it claims gives it a dominant market position in exchange-traded products.
Ultra-low-latency infrastructure - trades are executed through a technology stack that combines advanced mathematics, economics, software and hardware, so that the firm can react to price discrepancies faster than most market participants.
System-based risk controls - a formal risk-management framework covers identification, assessment, monitoring and mitigation of market, credit and liquidity risks, which is essential because the firm trades its own balance sheet and cannot afford a runaway loss.
Multiple income streams from one desk - beyond trading gains, the engine earns interest on fixed deposits and margin money placed with brokers, dividend income on investments held, and net gains from fair-value changes on derivatives, so the desk generates cash even when trading opportunities are thin.
The anchor for everything else - the proprietary desk was the company's only business after the 2021 pivot, and it remains the defining capability around which a client-facing broking business was later added through a corporate restructuring.

2. Stock broking and depository services: the same technology, now for clients

The company acquired a ready-made stock-broking and depository-participant business through a demerger, giving it a client-facing platform that earns fees and commissions while extending its algorithmic-trading tools to retail and institutional customers.

Bought, not built from scratch - the entire broking undertaking of Growth Securities Private Limited, including trading memberships on NSE, BSE and MCX, self-clearing membership, a CDSL depository-participant registration and an AMFI mutual-fund distributor licence, was transferred into Algoquant under a court-approved Scheme of Arrangement.
Operational from late 2025 - the company commenced broking and clearing operations on 3 November 2025 and completed the depository-participant transfer on 22 December 2025, so the business is in its earliest days as part of the listed entity.
Licensed and regulated - Algoquant holds a SEBI stock-broker registration valid from April 2025 and a SEBI depository-participant registration valid from September 2025, which means it can legally buy, sell and settle securities for clients and hold their securities in electronic form with CDSL.
Algo trading for external clients - the company aims to offer its algorithmic-trading solutions to new-age retail and institutional customers both in India and abroad, so the broking platform is not just a distribution channel but a way to monetise the same technology that powers the proprietary desk.
Consolidation was the rationale - the stated logic for bringing the broking business into the listed company was to combine complementary strengths on a single platform, accelerate scaling, optimise working capital and gain a pan-India network for deeper market penetration.

Group structure and partners

The company sits inside a promoter group with multi-generational capital-markets experience, and a 2024-25 restructuring simplified the holding structure while adding a strategic exchange investment.

A family-run operation - Managing Director Devansh Gupta and Director Dhruv Gupta represent the third generation of a family engaged in Indian capital markets, and they have led the business since acquiring control through a share-purchase agreement in October 2020.
Restructuring simplified the chain - under a composite Scheme of Arrangement effective April 2023 and completed in late 2024, the former holding company Algoquant Investments Private Limited was amalgamated into Algoquant Fintech and dissolved, while the broking undertaking of Growth Securities was demerged into the listed entity, leaving Algoquant Financials LLP as the direct holding entity.
Three subsidiaries, one strategic stake - as of mid-2025 the company had two subsidiaries (Growth Global Securities in IFSC and AQ Capital Services, the latter not yet operational), a third wholly owned subsidiary incorporated in June 2025 for broking activities, and a 0.28% stake in the National Commodity & Derivatives Exchange acquired for about Rs. 5 crore in October 2025.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹2,047Cr

Close Price

₹72.83

Industry

Finance and Investments Others

Price To Earnings

44.96

Price To Sales

7.91

Revenue

₹259Cr

Rev Gr TTM

Revenue Growth TTM

15.77%

PAT Gr TTM

PAT Growth TTM

102.77%

Consolidated

Standalone

Numbers

Percentage

Quarter	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	43	56	66	65	50	54	55	51	52	77	78
Growth YoY Revenue Growth YoY%					15.1	-2.7	-17.0	-21.4	5.1	43.1	42.9
Expenses ExpensesCr	29	43	44	45	46	51	45	41	41	56	52
Operating Profit Operating ProfitCr	14	13	22	20	3	3	9	10	11	22	26
OPM OPM%	33.2	23.1	33.6	30.7	6.8	5.2	17.2	20.4	21.3	28.1	33.6
Other Income Other IncomeCr	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Interest ExpenseCr	3	3	1	2	2	2	2	1	1	4	3
Depreciation DepreciationCr	1	1	1	1	1	1	1	1	1	1	1
PBT PBTCr	11	9	20	17	1	0	7	9	9	17	22
Tax TaxCr	3	3	6	5	-5	-1	2	3	3	0	6
PAT PATCr	7	6	14	12	5	1	4	6	6	17	16
Growth YoY PAT Growth YoY%					-31.7	-90.2	-68.1	-48.7	15.3	2,654.1	271.2
NPM NPM%	17.2	11.2	21.2	18.8	10.2	1.1	8.2	12.3	11.2	21.7	21.2
EPS EPS₹	0.2	0.3	0.0	0.3	0.2	0.0	0.0	0.2	0.2	0.6	0.6

Quarter	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	43	56	66	65	50	54	55	51	52	77	78
Growth YoY Revenue Growth YoY%					15.1	-2.7	-17.0	-21.4	5.1	43.1	42.9
Expenses ExpensesCr	29	43	44	45	46	51	45	41	41	56	52
Operating Profit Operating ProfitCr	14	13	22	20	3	3	9	10	11	22	26
OPM OPM%	33.2	23.1	33.6	30.7	6.8	5.2	17.2	20.4	21.3	28.1	33.6
Other Income Other IncomeCr	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Interest ExpenseCr	3	3	1	2	2	2	2	1	1	4	3
Depreciation DepreciationCr	1	1	1	1	1	1	1	1	1	1	1
PBT PBTCr	11	9	20	17	1	0	7	9	9	17	22
Tax TaxCr	3	3	6	5	-5	-1	2	3	3	0	6
PAT PATCr	7	6	14	12	5	1	4	6	6	17	16
Growth YoY PAT Growth YoY%					-31.7	-90.2	-68.1	-48.7	15.3	2,654.1	271.2
NPM NPM%	17.2	11.2	21.2	18.8	10.2	1.1	8.2	12.3	11.2	21.7	21.2
EPS EPS₹	0.2	0.3	0.0	0.3	0.2	0.0	0.0	0.2	0.2	0.6	0.6

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	156	235	235	259
Growth Revenue Growth%		50.0	0.3	15.8
Expenses ExpensesCr	113	186	183	189
Operating Profit Operating ProfitCr	44	48	53	70
OPM OPM%	28.0	20.6	22.4	26.9
Other Income Other IncomeCr	0	0	0	0
Interest Expense Interest ExpenseCr	10	7	7	8
Depreciation DepreciationCr	3	5	4	4
PBT PBTCr	31	37	41	57
Tax TaxCr	6	5	8	12
PAT PATCr	25	32	33	45
Growth PAT Growth%		29.8	4.7	102.8
NPM NPM%	15.7	13.6	14.2	17.6
EPS EPS₹	1.1	1.1	1.2	1.6

Financial Year	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	156	235	235	259
Growth Revenue Growth%		50.0	0.3	15.8
Expenses ExpensesCr	113	186	183	189
Operating Profit Operating ProfitCr	44	48	53	70
OPM OPM%	28.0	20.6	22.4	26.9
Other Income Other IncomeCr	0	0	0	0
Interest Expense Interest ExpenseCr	10	7	7	8
Depreciation DepreciationCr	3	5	4	4
PBT PBTCr	31	37	41	57
Tax TaxCr	6	5	8	12
PAT PATCr	25	32	33	45
Growth PAT Growth%		29.8	4.7	102.8
NPM NPM%	15.7	13.6	14.2	17.6
EPS EPS₹	1.1	1.1	1.2	1.6

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	2	3	28
Reserves ReservesCr	67	98	106
Current Liabilities Current LiabilitiesCr	184	84	106
Non Current Liabilities Non Current LiabilitiesCr	51	30	34
Total Liabilities Total LiabilitiesCr	304	216	275
Current Assets Current AssetsCr	276	164	196
Non Current Assets Non Current AssetsCr	28	51	80
Total Assets Total AssetsCr	304	216	275

Financial Year	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	2	3	28
Reserves ReservesCr	67	98	106
Current Liabilities Current LiabilitiesCr	184	84	106
Non Current Liabilities Non Current LiabilitiesCr	51	30	34
Total Liabilities Total LiabilitiesCr	304	216	275
Current Assets Current AssetsCr	276	164	196
Non Current Assets Non Current AssetsCr	28	51	80
Total Assets Total AssetsCr	304	216	275

Consolidated

Standalone

Financial Year	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-10	60	60
Investing Cash Flow Investing Cash FlowCr	19	-34	-32
Financing Cash Flow Financing Cash FlowCr	-7	-38	-3
Net Cash Flow Net Cash FlowCr	1	-11	24
Free Cash Flow Free Cash FlowCr	-17	57	57
CFO To PAT CFO To PAT%	-41.8	189.3	179.6
CFO To EBITDA CFO To EBITDA%	-23.5	125.2	113.7

Financial Year	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	-10	60	60
Investing Cash Flow Investing Cash FlowCr	19	-34	-32
Financing Cash Flow Financing Cash FlowCr	-7	-38	-3
Net Cash Flow Net Cash FlowCr	1	-11	24
Free Cash Flow Free Cash FlowCr	-17	57	57
CFO To PAT CFO To PAT%	-41.8	189.3	179.6
CFO To EBITDA CFO To EBITDA%	-23.5	125.2	113.7

Consolidated

Standalone

Financial Year	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	1,072	1,409	1,406	2,047
Price To Earnings Price To Earnings	43.6	44.2	42.0	45.0
Price To Sales Price To Sales	6.8	6.0	6.0	7.9
Price To Book Price To Book	15.6	14.0	10.5	15.2
EV To EBITDA EV To EBITDA	21.2	27.4	24.3	27.3
Profitability Ratios Profitability Ratios
GPM GPM%	100.0	100.0	100.0	100.0
OPM OPM%	28.0	20.6	22.4	26.9
NPM NPM%	15.7	13.6	14.2	17.6
ROCE ROCE%	31.4	33.5	29.4	29.4
ROE ROE%	35.7	31.6	24.8	24.8
ROA ROA%	8.1	14.8	12.1	12.1
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	1,072	1,409	1,406	2,047
Price To Earnings Price To Earnings	43.6	44.2	42.0	45.0
Price To Sales Price To Sales	6.8	6.0	6.0	7.9
Price To Book Price To Book	15.6	14.0	10.5	15.2
EV To EBITDA EV To EBITDA	21.2	27.4	24.3	27.3
Profitability Ratios Profitability Ratios
GPM GPM%	100.0	100.0	100.0	100.0
OPM OPM%	28.0	20.6	22.4	26.9
NPM NPM%	15.7	13.6	14.2	17.6
ROCE ROCE%	31.4	33.5	29.4	29.4
ROE ROE%	35.7	31.6	24.8	24.8
ROA ROA%	8.1	14.8	12.1	12.1
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	BENGALASM	MUFIN	NSIL	ALGOQUANT	GCSL	GRANDOAK	PFS
Market CapitalizationMkt CapCr	6,751	2,813	2,722	2,047	1,832	1,713	1,682
Close PriceClose₹	5,920.00	141.94	5,299.00	72.83	732.75	33.01	26.19
IndustryIndustry	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others
Price To EarningsPE	8.85	68.24	47.26	44.96	47.46	418.00	7.55
Price To SalesPS	2.77	11.34	27.65	7.91	9.44	6.99	3.53
RevenueRevenueCr	2,437	248	98	259	194	245	476
Revenue Growth TTMRev Gr TTM%	12.1%	28.3%	-19.8%	15.8%	-19.6%	1,63,186.7%	-22.8%
PAT Growth TTMPAT Gr TTM%	-11.6%	109.4%	35.3%	102.8%	1,039.8%	-95.2%	-27.9%

	BENGALASM	MUFIN	NSIL	ALGOQUANT	GCSL	GRANDOAK	PFS
Market CapitalizationMkt CapCr	6,751	2,813	2,722	2,047	1,832	1,713	1,682
Close PriceClose₹	5,920.00	141.94	5,299.00	72.83	732.75	33.01	26.19
IndustryIndustry	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others	Finance and Investments Others
Price To EarningsPE	8.85	68.24	47.26	44.96	47.46	418.00	7.55
Price To SalesPS	2.77	11.34	27.65	7.91	9.44	6.99	3.53
RevenueRevenueCr	2,437	248	98	259	194	245	476
Revenue Growth TTMRev Gr TTM%	12.1%	28.3%	-19.8%	15.8%	-19.6%	1,63,186.7%	-22.8%
PAT Growth TTMPAT Gr TTM%	-11.6%	109.4%	35.3%	102.8%	1,039.8%	-95.2%	-27.9%

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