SMC Global Securities Limited (NSE: SMCGLOBAL) Q1 2026 Earnings Call dated Jul. 28, 2025
Corporate Participants:
Unidentified Speaker
Gautam Kothari — Investor Relations
Subhash Aggarwal — Co-Founder, Chairman & MD
Vinod Kumar Jamar — President and Group CFO.
Himanshu Gupta — CEO & Director
Pranay Aggarwal — Director and CEO
Ajay Garg — Director and CEO
Anurag Bansal — Whole-Time Director
Mahesh C. Gupta — Vice Chairman and Managing Director
Analysts:
Unidentified Participant
Deepak Tyagi — Analyst
Pulkit Gupta — Analyst
Jithesh Jain — Analyst
Ayush Seth — Analyst
Preemal D’Souza — Analyst
Anuj Dutt — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to the Q1 SI26 Annex Conference Call of SMC Global Securities Limited hosted by XP4 Advisories. As a reminder, all parties of alliance will win the listen only mode. And there will be an opportunity for you to ask questions after the presentation templates. Should you need assistance during the conference call, please signal an Operator represent Star 100 on a touchdown phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Gautam Kothari from XP4 Advisories. Thank you. And over to you sir.
Gautam Kothari — Investor Relations
Thank you. Good evening everyone. Thank you for joining us on the Q1FY26 earnings conference call of SMC Global Securities Limited. Joining us today on this call are Mr. Subhash Chand Agarwal, Chairman and Managing Director, SMC Group. Mr. Mahesh C. Gupta, Vice Chairman and Managing Director, SMC group. Dr. D.P. agarwal, Chairman and Managing director, SMC Capitals Limited. Mr. Ajay Garg, Director and CEO, SMC Global Security. Mr. Anurag Bansal, Full Time Director, SMC Global Security. Mr.— Himansha Gupta, Director and CEO of Manywise Financial Services, Full Time Director, SNC Global Securities. Mr. Pranay Agarwal, Director and CEO of Stocks Card Moneywise Invest Limited and Mr.
Vinod Kumal, Chamber President and Group CFO. Before we begin, please note that today’s discussions may include forward looking statements which reflect the company’s current views and expectations. These statements are subject to risks and uncertainties and actual results may differ materially. A detailed safe harbor statement is provided on the second last page of our earnings presentation which is available on stock exchanges and the company’s website as well. With this, I now invite Mr. Subhash Agarwal to share his opening remarks. Over to you sir.
Subhash Aggarwal — Co-Founder, Chairman & MD
Yeah. Good evening everyone and a warm welcome to all participants. On this call I said you have had the opportunity to Review Our Quarter 1 Financial Year 26 financial results and earning presentation which are available on both the stock exchanges and our website.
Before discussing our financial performance, allow me to provide some context on the industry landscape and recent developments that have shaped the business environment. The broking and financial services industry is undergoing a pivotal transition. Saved by regulatory changes including stricter F and O norms and revised expiring cycles alongside global uncertainties. These factors have led to a temporary dip in derivatives trading volumes and client equity despite robust retail participation marked by 8.4 million new NSC demet account in Chancellor 25 while intermediary faced near some revenue pressures, long term growth drivers such as digital first investing, product innovation and expanding tier 2 tier 3 market penetration remaining strong with FIDIC measures aimed at fostering greater stability and transparency in the capital market, India and BFC sector has displayed resilience amid evolving macroeconomic dynamics.
Though credit growth is expected to moderate to 13 to 15% in financial year 2526 down from 17% over the last two fiscal as per Accra rating and MSME lending remain the primary growth levers with demand supported by ensuing borrower credit profiles and steady disbursements. However, NBFCs are adopting to tighten RBI regulations such as restrictions on default loss guarantee for fintech originated loans and are recalibrating pricing and provisioning particularly for MSME borrowers. Despite these risk adjustments, asset quality has remained stable and the sector is poised for sustainable recovery. Aided by favorable borrowing conditions and rising demand from underserved segments.
The life insurance industry has sustained double digit growth projecting India’s life insurance market to grow at 10.5% double B global average of 5% driven by rising financial awareness and product diversification. Premium collections for Apparel mine financial year 26 have already 462,000 crore up 11% YoY. The general insurance sector saw a temporary moderation but continued to gain traction on the lack of increased corporate detail coverage needs. With digital channels increasingly driving distribution insurance working remains a key beneficiary leveraging the structural demand for protection oriented products. As macroeconomic conditions stabilize, both light and non light segments are while strong rebound supported by digital penetration and evolving customer.
We view this space as a strategic inflection point rather than a setback. Regulatory measures may pre initial sessions but they are crucial for creating a more transparent, disciplined and resilient market ecosystem for well positioned intermediaries like us. This environment opens opportunities to consolidate market share, enhance customer trust and scale digital offerings. While current financial indicators such as order counts, margins and returns ratios may not fully reflect this transformation, these represent temporary adjustments with the stabilization of trading patterns. We expect more robust sustainable growth supported by sound regulatory foundation and a maturing investor base including the continued expansion of new retail participants and SIP investors.
Now let me walk you through some key performance highlights for SMC Global Sotis Ltd. Despite facing regulatory headwinds, we are pleased to report that SMC Global Scoreties delivered Quarter on quarter revenue and EBIT growth across booking, distribution and trading and financing business segment. So in quarter one financier 26 our consolidated revenue stood at rupees 425.1 crore marking a growth of 0.9% on quarter. On quarter basis our EBITDA came in at 100.3 crores reflecting a strong 59% growth quarter over quarter while our pack stood at rupees 30 crore delivering a growth of 632% compared to the previous quarter.
In quarter one financial 26 our expensive network comprised 2,137 of course 412 cities truly reflecting our we had 6,811 financial distributors and our mutual fund AUM stood at Rs. 4,519 crore. In our NBSC operations we are through 42 branches across nine states. Our insurance vertical continued its growth Momentum in quarter 126 operating through eight branches nationwide backed by a robust network of 16,000 under two code agents and 356 mis. While quarter one business compressor due to external sectors, we remain confident of a revival across all verticals. Growth in financing and insurance as market conditions normalize and investor sentiment improves, our diversified business model, growing nationwide network and continued investment technology position us scope to drive sustainable and long term growth.
With that I now hand over to Mr. Vinod Kumar Zammar, our President and Group CFO for a detailed overview of our financial performance. Over to you Mr. Damari.
Vinod Kumar Jamar — President and Group CFO.
Thank you Subhas sir and good evening to everyone on the call. Let me now take you through our financial statements. For quarter one FY26 on a consolidated basis for quarter one FY26, operating income stood at rupees 425.1 crores. Operating EBITDA was approximately 100.3 crores. EBITDA margin came in at 23.6%. PAT stood at rupees 30 crores with a PET margin of 7.1%. Segment wide performance in the broking, distribution and trading segment Q1 26 revenue was rupees 274.9 crore. Branch network expanded to 210. In joking, over 26,000 new clients were added during this quarter. Health advisory AUM reached rupees 1007 crore, a 6.2 increase, 6.2% increase compared to last year. Mutual fund AM rose to Rs. 4519 crore and 8.2% increase compared to last Year. We added 1095 new ships in this quarter. In the financing segment, quarter one revenue was 51 crore showing a growth of 25% quarter on quarter. NBSC AUM stood at rupees 1191 crores. ENPA and NNPA were 3.9% and 2.6% respectively. For the fall in the insurance broking division Q1FY 26 revenue steadfast 116 crore total insurance policy sold two hundred and thirty two thousand in Q1FY 26 with which we conclude our remarks and open the floor for Q and A. Thank you.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer section. Anyone who wishes to ask questions question on the touchdown telephone. If you wish to remove yourself from question Q you may press star N2.5 seconds. Are requested to use census while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queue attendees. The first question is from the line of visas draggy from beyond investments. Please go ahead.
Deepak Tyagi
Hello sir, thank you for conducting this call. So my first question was our EBITDA margin has expanded sharply. Q on Q. So basically. Hello. Yeah, I was saying. Yeah, I just needed an elaboration on that. And my second question is what will be our future outlook for revenue and profitability going forward in FY26?
Subhash Aggarwal
Over to Jamar.
Vinod Kumar Jamar
Hi Deepak, this is Vimod Jamar. Actually our EBITDA margin grew up Q on Q because in the quarter ended March 31st we had an investment loss of 9.33 crores. Whereas in this quarter we had an investment gain of 5.81 crores. So that was a major driver. Apart from this, our arbitrage income also improved. These are two major factors among the rest.
Deepak Tyagi
Okay, and so what will be revenue and profitability outlook for the remaining quarters?
Vinod Kumar Jamar
We are, we are hopeful that we will keep the growth momentum continued, will have a top line growth of around 10 12% and bottom line growth of around 15%. 15 to 20%.
Deepak Tyagi
Okay. And sir, also one more question was that how, why is can you give some your take on your NBSC sector? Why is it facing challenges to grow?
Himanshu Gupta
So Deepak, I think you are referring to the change in AUM over the quarter. So you can see that the AUM has not grown during the quarter. So there are, you know, a couple of reasons to it. First of all, you know, given the, you know, stress in the SME portfolio overall in the industry. So we have tightened lot of underwriting policies. So as a result, you know, the numbers have gone down. So this is the first season and you know, going forward, you know our team, the sourcing Channel and the sales team, they have been trained to get the business as per the new policy. So initially it is taking some time but we will cover up the business momentum underwriting policies.
That is the first reason. Secondly, I talked about it on the last call as well that we have discontinued, you know, last loans and you know, focusing on the retail loans particularly in the last segment. So there is, you know, if you compare it over the last years particularly, you know, there used to be an investment of about you know, 50 crore on an average in that product which you know, is not there in quarter one. And correspondingly we are also running that book down and you know, had some foreclosures during the quarter one for last year.
So cumulatively, you know, this rundown impact is coming from reduction in the large exposure and typing of the underwriting.
Deepak Tyagi
Okay, okay, got it. I’ll join back with you if I have any questions. Thank you.
operator
Thank you. A reminder to all the participants, you may press char and then to ask question. You may press char n1 to ask question. The next question is from the line of Limal Tisila, an individual investor. Please go ahead.
Unidentified Participant
Hello, good evening. Thank you for this opportunity. My question is, in the recent years broking, advisory and PMS businesses in India have grown significantly due to increased retail participation. How does SMC Global plan to differentiate itself, help from the competition and position itself to stand out in this crowded market?
Subhash Aggarwal
Okay, I. Okay, this is. Madam, this is. You see, competition is always there. We always face competition and we are investing in technology to face any competition. Because nowadays grouping is like a technology company. So we are investing in technology and we are improving. And every time we are making our products more innovative and research based and efficiency wise we are improving our app. So all those things we are doing to easy competition.
Unidentified Participant
Okay, thank you.
Subhash Aggarwal
Thank you.
operator
Thank you. Thank you. The next question is from the line of Pulkit Gupta from sbs. Please go ahead.
Pulkit Gupta
Yes, good afternoon, sir. Thank you for the opportunity. My question was also mostly on the NBSC side. We had seen that the revenue had actually seen a 15% decline which I think Mr. Manchu had talked about where large ticket loans were. Actually they had come down. But the other thing that I had noticed was that the EBITDA also dropped down 50% and the asset quality has actually declined. So what is the estimation for the asset quality? I mean we seen that the MPA has actually grown from 0.9% to 2.6% and we also.
Himanshu Gupta
So, so the first point that you highlighted is the decline in the total revenue So I believe you are comparing year on year numbers for quarter ended June 30th.
So you can see there was a, you know, item in the corresponding quarter last year of net gain on fair value changes of about 17 and a half crores which was 4.7 crore in this quarter. So that is the abnormal gain that we had last quarter under this head. Otherwise the interest income has gone up. If you compare year on year figures. So that was number one. Number two regarding the asset quality. So the GNPA numbers have gone up. That is primarily, you know, because of stress under building up under the SME sector in the market.
However, in Our portfolio the GNPAs are mainly constituted by the secured portfolio which are covered by the backed by the immovable property. And we have, you know, proper the properties are legally, you know, verified and we are under, you know, recovery measures whenever you know, we want to reposit the property or engage with the customer and some of the customers are paying the amount. So it is a matter of time and those number high GNP that you are seeing in the current quarter as well as the last quarter. So we are very optimistic and hopeful that we will recover those GMPs and probably in the coming quarter you will see much better portfolio quality number in terms of gmp.
And that is again the, the same reason why the PCR is no, because the these BNPAs are backed by property and we have adequate coverage. You know, we have made a little higher provision basically the property value that we have.
Pulkit Gupta
Okay, so if I understood you correctly, you’re saying that the GNPA increase has essentially been because of the increase in asset quality stress in the secured segment. So you’re not, you’re not looking at any stress in the unsecured part which is close to about 37% of the book.
Himanshu Gupta
That’s correct. But however, you know the darling currencies have slightly gone up in unsecured book as well given the market scenario.
However, in last one and a half year we have started taking guarantees under various guarantee schemes available from central government. So you know, we are have VC net influency due to you know, the tightening of underwriting policies as well as the guarantee coverage that is available on the MCQ basis. So that is, there is nothing, you know, to worry in the unsettured book. And the unsettured book anyways we are reducing over period. If you see over the last couple of years we have reduced uncured exposures from 50% to 36% and going forward also we will continue to do that and want to bring it down to 25, 30%.
Pulkit Gupta
All right. So would it be possible to then have a sense of what is the breakup between in the flippage between secured and unsecured, the fresh lifting so that
Himanshu Gupta
I have to, you know, it’s not readily available right now with you. You can share these numbers, but to give you a rough figure, 80% of the incremental pages, they are from the secured.
Pulkit Gupta
Okay, okay. Okay. My second question is essentially on the insurance debt. So what would sort of be the reason for the decline that we have seen in the insurance business also? I mean the insurance broken business where we have seen a 9% decline in the top line.
Subhash Aggarwal
Yoy again you take up, you take this question.
Unidentified Speaker
Hi sir. Hi. Thank you for the question. So the main reason for the decline in the insurance brokerage is because of the. Basically by 8% our general insurance business has declined because of. Basically because mo motor industry is seeing a downfall. But we hope in the next quarter it will increase.
Pulkit Gupta
Okay, and so what is. So this entire drop in the overall revenue is attributable to the drop in the motor vehicle?
Unidentified Speaker
Yeah, yeah. So basically 90% of our revenue from the. Is basically from the MIT vertical, which is the motor insurance vertical. So the main reason is because of that.
operator
Okay. Yes, Mr. Answer your question.
Pulkit Gupta
Yeah, no, so I, I was just saying that I would assume that that would also be the reason why for the fall in the ET also that. We seen in the segment.
Unidentified Speaker
Yes, yes, yes, exactly. Exactly. Yes, yes. But we hope to improve it in the coming quarters. Yeah.
Pulkit Gupta
Okay. And how has been the life insurance over there? I mean has that also increased slightly by. By 1% from age of.
Unidentified Speaker
Into 9 to 10. Yeah, yeah. So life insurance has also seen a difference in the revenue as compared to the YUI number because of the major growth insurance climb that we had in the last quarter. But we are again looking forward to the client attention in the coming quarters. So that will also improve in the coming quarters the life insurance segment.
Pulkit Gupta
Okay, okay. I’ll join back in the queue for further questions. Thank you.
operator
Thank you. Thank you. A reminder to all the participants. You may press star N1 to ask question. You may press star N1 to ask question. The next question is from the line of iPhone and individual investor. Please go ahead. Yes, Mr. Jean, please.
Jithesh Jain
Hello. I’m audible. Yeah, you are audible. Yeah. So my question is that like already there is a big players like Zerodha and grow. So how SMG global like dominate the difference in technology and, and how it inspired the young investors like. So this was my query.
Pranay Aggarwal
Okay. Hi. I didn’t get your name.
Jithesh Jain
My name is. Okay.
Pranay Aggarwal
Hi Jitesh, this is Pranya Agarwal.
Jithesh Jain
So I am sorry. Hello. Voice is correct. Hello. Yes, I’m audible. No sir, actually there’s a response again. So should I repeat the question?
Pranay Aggarwal
No, no, I got your question but am I audible?
Jithesh Jain
Yeah sir, now it is clear.
Pranay Aggarwal
Okay. So we have launched of our own called Stock Card. So Stock Card is a hundred percent subsidiary of smc. So you can say Stock Card is competing in the market with the likes of brokers you just talked about. So in Stock Card we have a different kind of strategy. We have gone ahead with software as a service model. We believe that the trading platform is the product which is essentially we are offering. So we have invested a lot in technology over the past one year and hence the result is we have launched the app which is top card and it has been rated 4.5 plus on Google Play Store and App Store.
And I’m happy to inform that we are growing month on month even you know in May in I can say in this quarter we are. We have nearly tripled the account we opened in Q1. We will see that by the trend line of the first month we will probably triple the accounts we have opened in Q1. So I think your question was mostly how are we competing in the market. So this is I think do you have something else which I can talk about.
Jithesh Jain
Actually even I there’s a one thing just because already the ZERODA and grow also providing the discounts. So how it can be like because how it would be a KPI for like because already there’s a big players in the market. So I just need to understand about the KP because how it would be differentiate because as you mentioned just now like you’re providing discounts and like things like. But same has been same strategy has been also provided by them also.
Pranay Aggarwal
So we are running on a different model. We are running on subscription model. So as I told you we provide software subscriptions. A client can basically pay just 99 rupees per month and do unlimited trading on our platform on the Stock Card app.
So you know this is kind of a software as a service model and we are growing our subscriber base it per month and six 99 rupees per year both the options the clients have and they can choose either of the model and they can subscribe to the platform. So this is you know innovation in the industry which we bought this is. This is Kind of apart from the existing models existing in the industry which others are providing. You know even our cost of acquisition has also come down a lot since we launched launch this model because a lot of clients are organically coming to us because of this particular problem we are solving in the market.
Jithesh Jain
Okay, right, fine. Like I don’t have any query search like because like fine, like I just, I will. I just need to think. And like because what happened like when I see the result and when I see the as you mentioned the cost, consumer cost, acquisitions like when I compare the cost it would be like zero and even a grow like their acquisition would be like even into a like very less, less favorable. Very less favorable cost. Like So I just. You are like reacceptable like fine.
Pranay Aggarwal
Right. So just to give you idea, our cost of acquisition has come down from around thousand rupees per account to around 200 rupees per account since we launched this model.
And our ARPU is about the same in this model also because if you talk about industry, industry average ARPU per active client for a Discount broker is 2000 rupees. From brokerage there are other schemes of income also but from brokerage it’s 2000 rupees per active user and the activation ratio is around 20 to 25% on an average. So if you talk about per client, not on active client it comes down to 500 or 600 rupees. And because we are taking subscription upfront, all our users are paying customers. They are not just opening an account and not actually with the intention of paid.
So our ARPU per client comes down to the same level as the other brokers. If that answers your question and the cost of acquisition is significantly less.
Jithesh Jain
Okay fine. Thank you. Thank you.
operator
Thank you. A reminder to all the participants and want to ask question. The next question is from the line of a. From AS investments. Please go ahead.
Ayush Seth
Hello. Hello. Yeah. Yes. So my first question was can you sir provide insight into the asset quality including the trends and trends in the collection efficiency and the gross and net NPA and as well as any if any stress pockets are emerging into the business.
Himanshu Gupta
Yes, hi, this is Himanshu. So I’ll take this question. So as we discussed earlier there are you know certain delinquencies that have been observed during the quarter particularly in the secured portfolio. So as a result the gntas have gone up and we are taking appropriate measures like we have the sarpathy right.
And we are in active discussions with the client. So we are very hopeful to get the recoveries done some of them would happen in quarter two and rest of them we are open to get it done during the year, most of them. And so this was the major trend that you were asking. And on the top of it, you know, we have been focusing now on the retail portfolio. So the average ticket size of the new book, that is, you know, has gone down to around 10 to 15 lakhs which was around one and a half.
So that will also help you avoid 20 numbers in certain quarters. We have already implemented that since about quarters. We have been building the micro lab book which has reached. Hello. And we have also started taking the CGTMSE coverage on the unsecured portfolio for all the loans which are getting disbursed since about a year now. So that is also, you know, helping us to reduce the.
Ayush Seth
Okay sir, so my. Basically I also had a second question. So it was regarding how would you describe your capital positions? Are there any considerations or plans for fresh capital inclusion into the near or medium term?
Himanshu Gupta
We are open for capital raise debt facilities. That is a continuous process which we do on a regular basis from banks as well as from NTD mode. And regarding the eqb into general, we will see through it as and when it would be required. Right now the capital adequacy is around 43% so we are very comfortable.
Ayush Seth
Okay sir, I also had in one one question regarding the insurance segment. Just wanted to know that we saw a drop in gross premium collections in this quarter. So basically do you consider this to be a seasonal fluctuation or an indicative towards a broader trend?
Himanshu Gupta
Hi. So this basically due to the seasonal nature of the industry, the premiums in quarters or last quarter of the financial years are always higher. That is basically seasonal.
Ayush Seth
Okay. Okay, thank you.
operator
Okay, thank you. Thank you. The next question is from the line of Deepak Jaggi from your investments. Please go ahead.
Deepak Tyagi
Yeah, hello. Thank you for the opportunity again. Yes, just I wanted to understand that as you said that your revenue from stock card on a yearly subscription basis is rs699. So how is the trend of acquisition of the customers? How are we onboarding new clients every month? Can you give us some elaboration on that?
Pranay Aggarwal
Yes. Hi. So in the Q1 we opened around 11,000 accounts only from stock cards. But we have launched this plan in mid of the month of May itself. So you can say in one and a half months, primarily this acquisition took place and that trend is ever increasing.
In Q2 we are seeing a trend that probably will triple this account count.
Deepak Tyagi
Okay, answer how is our full time broking segment performing as through the stock card? Currently it is a very small part of the broking segment. So how is that going?
Ajay Garg
Yeah. Hi, I’m. Yeah. Even in full you see like because of this new regulations where the weekly option has been only one contact, one exchange, an increase of margin in expiry and less FBI activity because they were the industry widely was this of around 25% into volumes after Q3 Q4 last year. So as compared to Q4 last year this year has been Q1 has been almost steady.
But if you compare it with the Q1 last year in SMC there’s a dip of around 20% whereas the market has dipped around 25%. So we are better off that way. And as Shubazi pointed out that we are spending a lot on improving technology and you see cake size is increasing day by day. 27,000 crore was there in the month of June. We do have largest number of IPOs and today we do have 19 crores DMAT account though the unique numbers are much lesser. So what I feel that the penetration is still very low in India.
If you see the penetration it should be around 5 to 6%. So we assume we have a long way to go and there’s a room for everyone. So SMC do have presence in more than 400 cities and we do have more than 2200 franchisee network and around 200 branches all across India. So because in Q1 and even. Even even in Q2 the because of various trade tariff global queues and because of some uncertainties the market was practical. But I think the second half should be much much better due to even we have to observe. But second half should be much better and we can see a very good growth in this year by the year end.
Deepak Tyagi
Okay. Okay sir got this. And so my last question is that in going future what we do want to be a discount broker or a full time broker what is your major focus on?
Ajay Garg
Basically like there’s a room for both the things. So because in discount broker brokerage the client is of his own. In full brokerage the it is a relationship. At the end of the day though because I had full booking arms so I feel that at the end of the money client has to make profit. So we do have a lot of branches like around 20 to 2400 physical offices.
We do have a big research team. Our research is also very very good. We do have very good tools. And now the algo circular has come. So now the algorithm is trading would be leveraged to the retail client. So we do have edge as far as this thing is concerned. The sound brokerage has also revolutionized. It has like without. Without the sound voltage and without the technology this number would not. Would not have been 19 crore from 4 crore pre Covid. So it is very good for financial inclusion. And I feel that we are still at a very lesson pays and there. There is a room for both discount as well as full booking.
Deepak Tyagi
Okay. Okay sir. Okay. Thank you so much sir.
operator
Thank you. A reminder to all the participants you want to ask question. The next question is from the line of female d. From an individual investor. Please go ahead.
Preemal D’Souza
It’s. Hello. Question is to Mr. Shubhash Agarwal. The question is. In a recent online interview you mentioned a target of reaching 8000 crore in AEM. Could you please elaborate on the key strategy or the growth drivers that will help you achieve this milestone and the timeline you’re aiming for?
Subhash Aggarwal
What is that?
Preemal D’Souza
No, I. I saw an online interview on YouTube. So you had mentioned that you are reaching for a target of 8,000 crores in asset under management. So I wanted to know what are the growth drivers and the timeline which you are aiming for?
Subhash Aggarwal
Okay. Okay. So that means that is we have around 4,500 mutual fund AVM distribution team. So we can achieve 8,000 crore in one year.
Preemal D’Souza
In one year. Okay.
Subhash Aggarwal
Yes, we are trying to achieve that.
Preemal D’Souza
What are the group strategies for this?
Subhash Aggarwal
Yeah, actually our app. Through app we are procuring mutual fund and we have so many distributors and it’s more than 6,000 distributors by that we can achieve and so that within one year we are targeting his proceeds.
Preemal D’Souza
Okay. Okay. Thank you so much. Thank you.
operator
The next question is from the line of Anuj debt and individual investor. Please go ahead.
Anuj Dutt
Thank you sir. So I wanted to know how viable is mutual fund distribution as a long term revenue stream? 4012 of the ongoing shift between direct and and regular plan.
Subhash Aggarwal
Anuragi, you are there.
Anurag Bansal
Yeah, yeah, yeah. Excuse me. I’ll take this question. So no doubt you can see some shifts from you know, indirect to direct. But again take size is increasing and further. We are very, you know, small in the pond. As of now we are just at 4500 crores of a year. We have grown approximately 1718% in last couple of years. And we are targeting a much higher growth in coming year. And that will definitely add to our top line and bottom line. Thank you.
operator
Thank you. The next question is from the line of the PUG tagging from NEOM investments. Please go ahead.
Deepak Tyagi
Yeah, sir, thank you for the opportunity again. So sir, as you mentioned that you are targeting 8,000 crore AUM in mutual fund in next one year. So basically I just wanted to understand how we are going to achieve that.
Subhash Aggarwal
You see earlier what we were not providing a depth of the software to our mutual fund distributors. So we are able to provide them. And due to that IT technology we are hopeful that our mutual fund will be double in one year time. Okay. So are we doing also any marketing strategies or any other such thing you can take this question said all that. We have completely revamped our strategy. As I said earlier with the. With the. You know, complete changes in our back end and front end systems will be definitely targeting a much higher amount.
Deepak Tyagi
Okay sir. Okay. Thank you.
operator
Thank you. A reminder to all the participants. You may press char and one to ask for question. Ladies and gentlemen, as there are no further questions from the P. I now have the conference over to Mr. Mahesh Si Gupta for closing comments. Over to you sir.
Mahesh C. Gupta
Thank you all for joining today’s earning call. We trust we were able to address your queries. Secondly, should you have any further questions or need more information about the company, please feel free to reach out to investor relations advisor at XV4 Advisory. Stay safe and healthy. Thank you very much to all. Thank you.
operator
Thank you on behalf of XV4 advisors. That concludes this conference. Thank you for joining us. And you may now disconnect your lines. Thank you.