Micro NBFC
Market Cap
₹1,115 ₹1,115 Cr.
P/E
8.34
PEG
0.92
PEG = P/E ÷ 5yr Forward EPS CAGR
5yr Forward EPS CAGR Thesis - Base Case

- The base thesis depends on the Q1 FY27 annualized revenue run-rate carrying into FY27, stable core Broking & Allied activity, and gradual digital-channel stabilization.- The bull path requires online-channel recovery and sustained margin improvement, while the bear path reflects online reversal, weaker revenue run-rate, margin pressure, and volatile market-linked income.

Key Ratios

Debt to Equity
Debt to Equity
0.42
Div Yield (%)
Div Yield (%)
-
Individual < 2 lac
Individual < 2 lac
9.45 %
Institutions
Institutions
0.03 %
Market cap
Market cap
1,115 Cr
No. of Shareholders
No. of Shareholders
15,147
OPM (%)
OPM (%)
41.45 %
PE
PE
8.34
Prom Holding
Prom Holding
71.93 %
ROCE (%)
ROCE (%)
37.01
ROE (%)
ROE (%)
20.56
Sales
Sales
593 Cr
  • Master Trust
  • Prime Securities
  • Arihant Capital Mkt.
Last updated on 10 Sep 2026
  • Master Trust earns ~94-95% of revenue from broking and allied services for retail and digital clients. It operates 63 branches and the Agnik, mtWealth and SinglePoint platforms.
  • It has moved toward online broking. Online share rose from 36% in Q1FY23 to 54% in Q1FY27.
  • Profit comes almost entirely from broking and allied services. Lending is tiny but turned loss-making for the first time in Q1FY27.
  • It is pushing digital broking through Agnik, mtWealth and SinglePoint. It awaits SEBI approval for a mutual fund business. It has started merchant banking work.
  • Master Trust is in early recovery after its FY26 dip. Near-term profit depends on whether the Q1FY27 broking rebound continues through FY27.
  • Promoter pledges are zero after the August release. They have been raised and cleared quickly before to fund the broking subsidiary.
  • AGM and ₹1,500Cr funding limit 25 Sep 2026
    the vote decides the Master Capital funding limit behind the pledge cycle.
  • Broking rebound sustenance early-mid Nov 2026
    Q2 shows whether broking growth and online share hold and lending stays loss-making.
  • Mutual fund approval No timeline
    approval lets Master Trust start the planned mutual fund business.
Price Range

See where the stock is trading versus its 52-week high and low.

Low
56
52W Range
High
165
Timeline

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Forensics

5 Yes

Positive for this company

1 Neutral

Neutral for this company

3 No

Negative for this company

6 No Data

Insufficient data to analyse

Revenue mix

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FAQs on Master Trust Ltd. Business

Master Trust Ltd., formerly known as Arora Financial Consultants, is a private sector company engaged in forex, securities trading, equity broking, insurance broking, and more. With a wide presence in India, it offers a range of financial services.

Master Trust major competitors are Prime Securities, Arihant Capital Mkt., VLS Finance, 5Paisa Capital, Aditya Birla Money, EmkayGlobal Finl.Ser, The Investment Trust.
Market Cap of Master Trust is ₹1,116 Crs.
While the median market cap of its peers are ₹761 Crs.

Master Trust seems to be less financially stable compared to its competitors.
Altman Z score of Master Trust is 1.6 and is ranked 6 out of its 8 competitors.

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