Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.
5paisa Capital Limited (NSE: 5PAISA) Q4 2026 Earnings Call dated May. 04, 2026
Corporate Participants:
Akash — Operator
Gaurav Seth — Chief Executive Officer & Managing Director
Analysts:
Harshat Singhania — Analyst
Unidentified Participant
Presentation:
Akash — Operator
Good afternoon ladies and gentlemen. I’m Akash, moderator for the conference call. Welcome to 5 Paisa Capital Limited Conference Call. We have with us today Mr. Gaurav Seth, M.D. And CEO Mr. Gaurav Munjal, Whole Time Director and CFO. And Mr. Amaya Agnihotri, Whole Time Director and CTO. As a reminder, all participants will be in listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing Star then zero on your touchstone telephone.
Please note this conference is being recorded. I would now like to hand over the floor to Mr. Gauraset. Thank you. And over to you, sir.
Gaurav Seth — Chief Executive Officer & Managing Director
Okay, thank you. Thank you. Hi. Thanks everyone for joining. Good afternoon. I’ll take a few minutes to summarize our results and what we are up to and then open the floor for questions. So Q4XY26, give you a quick summary. Capital markets in general have been quite volatile as all of us know in the past couple months. Specifically geopolitical developments including the Iran war and macroeconomic uncertainty as well. And of course there has been quite an upheaval from the advent of AI both in the global markets and Indian markets as well.
Both positive and negative. And positive that there’s a lot of potential in the technology. But negative in the sense that the impact on certain companies and certain sectors where information is asymmetric and not very, very clear has impacted the valuation a lot of companies across the globe, including India. In general. Brent crude prices cross $100 barrel. I believe it’s probably even more than that as we speak. Increasing inflationary pressures and led to the weakening of rupee against the dollar.
FIs have been continuing to sell leading to about 11% decline in indices. However this has been a trend that we’ve been witnessing has a lot of local domestic institutions and MF retail money has been buying up the dip and it highlights the strength of India’s domestic investor base. There was I mean likely respected some moderation on the retail participation in the markets so that moderated with demat account additions slowing down to about 8.5 million which if you compare with previous quarter was down about 3%.
Despite this investing and trading activity generally remains strong. Exchange retail premium average Daily turnover grew 22% quarter and quarter to 78,000 crores while exchange retail cash ADTO grew 10% quarter and quarter to 43,974 crore from our company perspective Fytesa we remain focused on offering best in class solutions, continue to focus on high quality acquisition which means acquiring high quality customers and increasing lifetime value. During the last quarter of the previous financial year we improved on a lot of metrics including our overall acquisition, organic base for organic acquisitions, stronger brand campaigns and targeted engagement.
So we acquired 33% more customers as compared to the quarter before that. So we acquired north of 1 lakh customers in the last quarter. There was also an improvement in our overall first year revenue and our CTR ratio which is cost to revenue. From a payback perspective our total customer base reached 51.8 lakh and in Q4 our sno premium adto growth grew to 1336 crores which is an increase of 22% quarter on quarter. Our average client funding book which includes the regular T5 margin product plus MTF totaled up to 410 crores which was again an increase of 8% quarter on quarter wheel fund AEM stood at 1,761 crore which is again 6% increase from a quarter and quarter perspective and some part of mark to market impacted this number because the overall market went down so very from a mark to market so to also reduce this number would have been higher on our financial metrics.
The broking revenue grew to 41.8 crore in the quarter which is 13% increase relative to previous quarter. Allied income was up 20.7 crore which is up 5% and total revenue for the quarter was 85.5 crore again 8% increase. Our employee costs increased due to hiring in product and tech marketing and AI teams. Other expenses also went up mainly because of higher customer acquisition compared to last quarter and for this quarter profit after tax packed was 44.3 crore and our net worth stood at 650 crore as of 3-31-2026 I’ll take a minute or a few minutes to talk about more importantly what we have been investing in on the technology and product side.
So from a product update perspective we launched several features to improve the trading experience of our customers. We’ve included tools like Scalper, Multi Chart Setup, Strategy Builder, Option Scan which help user execute trades faster and track positions better. We also tracked position, also added position tracking on option chain and grouping across indices. Further, we upgraded our API and partner ecosystem extreme and xtx with Greek data, 20 depth APIs and static IP support which improved access and increased institutional participation.
On the investing side Pay later MTF became important monetization driver and we expanded our eligible stock universe from 700 to 1500 plus stocks and increased units per customer to 3 crores. We also improved mutual fund experience, launched an ETF dashboard, introduced semi compliant infrastructure and reintroduced stock SIPs. Community features like Trade Better and Trader Stories are currently under development to support long term user engagement. Specifically on the tech side we significantly reduce order placement latency, improved execution speed and platform reliability along with modernizing our backing systems.
Some of the features that we introduced specifically on the tech infrastructure side was caching static data, reducing API across web and app platforms and optimize market feed APIs with smaller payloads. We also made charting faster and improved load times. These efforts together improved latency, improved execution reliability and supported operational excellence at scale. We were one of the first to actually introduce Phyta MCP which is an AI trading companion linked to broken accounts. This happened in actually the previous two quarters and last quarter.
We improved the product where somebody could use an MCP server to connect to the broken account and almost execute, analyze and execute anything that they would do on the app via chat window. Just one comment on the Fundraise so we successfully completed our rights issue which was oversubscribed and total amount of money raised was 468 crores. There was a strong participation from promoters, existing and new investors reflecting confidence in our growth strategy and our network increased to more than 1,100 crore for the strengthening our balance sheet.
This capital will be deployed to support business expansion, enhance market presence and drive long term growth. Lastly, we remain committed to driving innovation, strengthening our product and technology stack and leveraging AI to enhance customer experience. With that I conclude my opening remarks and welcome Any questions? Thank you.
Akash — Operator
Thank you sir. Ladies and gentlemen, we will now begin the question and answer session. If you have a question please press star and one on a telephone keypad and wait for your turn to ask the question if you would like to withdraw your request, you may do so by pressing Star and one again. Ladies and gentlemen, if you have any questions please press Star and one on your telephone keypad. The first question comes from the line of Mr. Harshat Singhania from Robo Capital. Please go ahead sir.
Questions and Answers:
Gaurav Seth
Hello. Am I audible?
Akash
Yes sir.
Gaurav Seth
Yeah. So can you tell a bit about the utilization
Harshat Singhania
Of the rights money which we have raised and like how we’re going to utilize it.
Gaurav Seth
So I understand the question. We’re talking about that how are we going to use the capital. Right.
Harshat Singhania
Yeah. Especially right issue.
Gaurav Seth
Right issue. Right. Okay so I think we mentioned that in our. In our draft perspectives also letter of offer at Dang rights issue. So if you look at it will be. We plan to deploy it at a high level in three major areas. One is to support you know, higher trading volumes as we anticipate higher growth to support the margin extended to clients. And you know what we need to keep with the exchanges number one. Second is to grow our MTS book. This is where we’re seeing good growth. And third is overall core business expansion via better marketing, brand development and a lot of investment in product tech and AI.
So those are the three major areas where we are looking to deploy capital.
Unidentified Participant
Okay. And have we utilized some part of this fund as of now?
Gaurav Seth
You can take that like specifically. It’s technically speaking. Yeah, go ahead.
Harshat Singhania
Sure, sure. So we have already started. You know we have increased our margin as per the prospectus because. And right now our margin has been increased to a 1.5x from our existing capacity.
Gaurav Seth
Okay, great. Thank you so much. So that’ll be it for my side.
Akash
Thank you sir. The next question comes from the line of Mr. Sudanshu Yazo from Dalilshire Consulting LLP.
Unidentified Participant
Can you please give me the give some glimpse on five PASA, FNO and cash market shares and hello last year community Trinity going on. What was the outcome of it and what is customer acquisition strategy for pipes?
Harshat Singhania
So regarding your first question that our customer outcome of the company. So outcome of the company is a simple. I mean basically we have uploaded our resultable financial as well as balance sheet which shows that we have increased in revenue by 8%. Our profit is slightly declined because of the investment in tech investment as well as HR investment. So nothing major. I mean unusual as outcome is there apart from the ITC which we have already published. Second question sir was in respect of the customer acquisition strategy, maybe you can take.
Unidentified Participant
Yeah, so okay. So I think the customer acquisition strategy for us is you know it Lies.
Gaurav Seth
Just request if people are not speaking and go on mute.
Unidentified Participant
Yeah. So from our perspective,
Gaurav Seth
An acquisition strategy is directly linked to what our overall company strategy is. And, and that is something that we want to focus play of deepening where we are good at on in the trading stack as well as growing ours investing business which is mutual funds and other products. So anyone who is looking to, let’s say whether it is a person who is a pro trader would look to come to us to you know, to carry out the trades or you know, to improve their profitability or do more and more deeper things with the stack.
That is something that we’re focused on. And on the other side, people who are specifically looking to build long term wealth and not necessarily trade for that. We have other products like we have NTF. We have to a certain extent ETFs, mutual funds and some other products which are there in the pipeline. So that’s really our overall strategy for acquired customers in the future.
Unidentified Participant
What about the market share? Please give some number
Gaurav Seth
Market share. We have approximately 2% market share on both sno and cash.
Unidentified Participant
Okay.
Gaurav Seth
Okay. Thank you.
Akash
Thank you sir. Ladies and gentlemen, if you have any questions please press star and one on the telephone keypad. I repeat, if you have any questions please press star and one on your telephone keypad. Ladies and gentlemen, if you have any questions please press star and one on your telephone keypad. There are no further questions, sir. Now I hand the floor to the management for the closing comments.
Gaurav Seth
Okay. I mean if you have any thoughts. Thank you, thank you for attending. If you have any further questions and I think Gaurav, we can please provide the email ID that they can reach us.
Akash
Thank you, sir. Ladies and gentlemen, this concludes your conference for today. Thank you for your participation and for using DoorSabhas conference call services. You may disconnect your lines now. Thank you and have a pleasant day.