{"id":182134,"date":"2026-04-30T01:55:31","date_gmt":"2026-04-30T05:55:31","guid":{"rendered":"https:\/\/alphastreet.com\/india\/geojit-financial-services-ltd-geojitfsl-q4-2026-earnings-call-transcript\/"},"modified":"2026-04-30T01:59:18","modified_gmt":"2026-04-30T05:59:18","slug":"geojit-financial-services-ltd-geojitfsl-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/geojit-financial-services-ltd-geojitfsl-q4-2026-earnings-call-transcript\/","title":{"rendered":"Geojit Financial Services Ltd (GEOJITFSL) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Geojit Financial Services Ltd (NSE: GEOJITFSL) Q4 2026 Earnings Call dated Apr. 30, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Satish Menon<\/strong> \u2014 Executive Director<\/em><\/p>\n

Jones George<\/strong> \u2014 Executive Director<\/em><\/p>\n

Mini Nair<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Chenayappillil John George<\/strong> \u2014 Chairman and Managing Director<\/em><\/p>\n

Jayakrishnan Sasidharan<\/strong> \u2014 Executive Director and Chief Information Officer<\/em><\/p>\n

Rahul Roy Chowdhury<\/strong> \u2014 Chief Executive Officer, Private Wealth<\/em><\/p>\n

Analysts:<\/h2>\n

Yogesh Shroff<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Mahesh Kumar<\/strong> \u2014 Analyst<\/em><\/p>\n

Nisha Jain<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to the Jiojit Financial Services Ltd. Earnings conference call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call please please signal an operator by pressing Star then zero on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Satish Menon, the Executive Director from Jiojeet Financial Services.<\/p>\n

Thank you. And over to you sir.<\/p>\n

Satish Menon<\/strong> \u2014 Executive Director<\/em><\/p>\n

Thank you very much. Good morning everyone and thank you for joining us today. This is Satish Menon from Geogit on the call with me we have Mr. C.J. George, Chairman and Managing Director, Mr. Jones George, Executive Director, Ms. Mini Nair, CFO Mr. J. Shashidaran, CIO and Mr. Rahul Roy Chowdhury, CEO of Private wealth along with Liju Johnson, Company Secretary. Let me start by stepping back for a moment and talking about how we see Geojits today and where we are headed. At its core Geojit is trusted advice led wealth platform built on long term client relationship supported by technology with a strong on ground distribution network.<\/p>\n

And what differentiates us is quite simple. For most brokers a transaction is the end. For jiojit, a transaction is just a beginning the starting point of a long term wealth relationship. That philosophy continues to shape how we built our business over the last few years which actually started in 2016. We have been consciously transforming the business from a transaction led broking model to a more stable, scalable and annuity driven wealth and distribution franchise. Now it is time for a bit more thrust.<\/p>\n

This transformation, what we call GeoGIP 2.0 is not a shift of the direction, it is a structural evolution of the business. There are three clear pillars to this. First, continuing the shift in our revenue mix a little more aggressively towards the recurring income stream such as mutual fund distribution, advisory, PMS and insurance distribution which brings greater viability, visibility and stability to the business. Second, our global NRI franchise. We have of course built long standing relationship across GCC and this gives us unique ability to connect global wealth flows back to India.<\/p>\n

Especially with the added opportunity of difc, Gift City and Asset management business in UAE and third, investing and using it to reach this about two objectives. This is fundamentally a relationship driven model. Our sales feet on street don’t just execute transactions, they guide clients through their investment journey. With our strong presence in Tier 2 and Tier 3 markets where the need of advice is the highest, we believe we are well positioned for the next phase of growth and with that context, FY26 has been a year where we have actively accelerated this transformation.<\/p>\n

Our focus through the year has been on building scale, expanding our distribution footprint and investing in capabilities that position us well for the next phase of growth. We have consciously prioritized strengthening our core across people, technology and brand to ensure that we are building a more scalable and future ready business. Profitability for the year reflects the strategic and planned investments. We initiated the first phase of our IT transformation with an investment spend of around 10 crores in the last financial year which will enable better integration, improved client experience and stronger data led decision making over time.<\/p>\n

At the same time, we significantly strengthened our distribution engine with an addition of around 700 employees during the year of which 650 people in sales. Our employee base now stands at 3768 employees giving us the scale and capacity to support future growth. This 20% expansion in our sales force has an added cost of 29 crores for the year and is a deliberate step towards deepening our reach especially in under penetrated markets, building a strong pipeline for sustained growth. We also stepped up our brand building efforts with an incremental spend of around 15 crores in advertising and marketing in FY26 compared to FY25 with a clear focus on improving visibility, trust and recall.<\/p>\n

Just to note, FY26 also includes a provision of around 9 crores toward the implementation of the new labor code which is in line with the regulatory requirements. What is particularly encouraging is that these investments are already translating into stronger operating traction. Distribution income grew 10% during the year. Our net inflow market share in equities for mutual fund improved from 0.33 to 0.40 reflecting an improving competitiveness and deeper client engagement. Our SIP book continues to build steadily with the monthly collection reaching 151crores in March which reflects sustained retail participation in a long term approach to investing by our clients.<\/p>\n

As on 31st March our AEM stood around 23,230 crores and total customer assets were 97,000 crores. To conclude, while FY26 profitability reflects the impact of planned investments, we are seeing a strong traction in our distribution led business and improving client metrics. These investments are aligned with long term opportunity arising from the financialization of savings in India and as we scale we expect operating leverage to support improved growth and profitability over the medium term. With that, I would like to open the floor for questions.<\/p>\n

Thank you very much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will now Begin the question and answer session. Anyone who wishes to ask a question may press star N1 on their touchstone telephone. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. Our first question comes from the line of Yogesh Shroff from Magnus Hathaway Investments. Please go ahead.<\/p>\n

Questions and Answers:<\/h2>\n

Yogesh Shroff<\/strong><\/p>\n

Hi. Thank you so much for the opportunity and congratulations on a big set of numbers. What I can see is I think this quarter is when our DIFC business also gets activated. So my question was how is the traction, initial traction been and what do you think the current situation, geopolitical situation there is how has it impacted the business? Or it has actually accelerated the attraction of people shifting their wealth from the Middle east to India. So first question is that. And the second question is we already have existing entities there.<\/p>\n

So quickly want to check in how, how are they different? Because I believe that you’re already doing some wealth management through our existing entities. And what is the AUM for that and how is it, how is the new DIFC entity different? Yes.<\/p>\n

Jones George<\/strong><\/p>\n

Yeah. So am I audible?<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Yes.<\/p>\n

Jones George<\/strong><\/p>\n

Yeah. So this is Jones George. I’m the executive director of the company. So with regard to difc, we have received all the licenses and we had started operations in the month of February. This is largely a private banking business. We are external asset managers to private banks. So the onboarding with the private banks are in progress. Client onboarding hasn’t yet started which will take by the end of this month is when we’ll start client onboarding. That is when we’ll start seeing revenue come in as well.<\/p>\n

And to your second question on the existing entities in Middle east, these are largely catering to the retail segment. While there are a portion of, you know, good number of wealth prospects also that are managed by these companies. These are largely in the retail segment. That’s the kind of products that they offer. So there is a differentiation between the DIFC entity and the joint venture entities that we have in the Middle east at the moment. To give you numbers on NRIs as a whole, we have about 12 to 13,000 crores of assets that we manage for NRIs and altogether we have made an income of about 90 crores in the last financial year.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Got it? This was super helpful. And this last question on the new Sales People edition, I believe we have added almost 800 to 900 new employees this year. So if you can give a bifurcation between the new employee hires in our DIFC entity versus the India entity or the entire entire is in India only. The entire new addition capacity is in India only.<\/p>\n

Satish Menon<\/strong><\/p>\n

So most of the addition has been in India entity only. So difc like Prajon just said, we are in the initial stages of starting. So we have hired net 700 people in the last financial year of which 650 is in pure sale and most of it is for the India entity only. You want to add anything, John? Yeah.<\/p>\n

Jones George<\/strong><\/p>\n

So on the DIC side we have three employees there but they are not into sales at the moment. And the JVs, the other entities in the Middle east have also done a little bit of recruitment. But all put together we’re talking about 10 people, not a significant number at this time.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

I think in the earlier call you had mentioned that our target is to gather almost $20,000 of asset and advisory within the DIFC entity. And I think the currently we just have three employees. If you can give us the game plan for DIFC entity, how are we planning to ramp that up over the next two to three years then that will be super, super helpful. And additionally if you can just help us with some understanding on what the minimum ticket size is for a client in terms of to onboard with us in the private banking business.<\/p>\n

Like is it something like a quota private banking where minimum ticket size is. Minimum business size would be around 10 crores, 20 crores or it’s something differently matter.<\/p>\n

Jones George<\/strong><\/p>\n

Yeah. So the current three employees that we’ve hired, one is in the afc, one is of course the CEO, the second is the investment advisor and the third is a service manager, the relationship manager or the sales people are in the process of recruitment. The minimum ticket size that generally private banks require in the NDIC is about a million dollars. So that is where we will start the relationship and we will be driving this business of course through recruitment of relationship managers. I must tell you that the West Asia conflict has had a little bit of apprehensions because clients have.<\/p>\n

While we are not seeing across the NRI client base that we have, we are not seeing panic redemptions. But clients are choosing not to make any financial decision at this time until they are clear about or they have some certainty about the future. So the next couple of months I believe will be a little tricky because of the West Asia conflict. But the long term outlook of DIFC as well as the Middle east continues to be very strong.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Got it. Thank you so much for being proficient. Look forward. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

The next question comes from the line of Chanda Bhatia from Sears Fund Management, please go ahead.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Good morning everyone and thanks for taking my question. And second thing is the detailed presentation is extremely good in terms of helping to know how ARR is doing and how insurance distribution vertical is doing.<\/p>\n

Mini Nair<\/strong><\/p>\n

So I<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Have a couple of questions. So my first question is what is the plan for current year for hiring and Capex plus extra opex if you are planning for the year.<\/p>\n

Chenayappillil John George<\/strong><\/p>\n

Good morning. Good morning. Good<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Morning. Yeah,<\/p>\n

Chenayappillil John George<\/strong><\/p>\n

See at the moment what we have done is we have stopped hiring for the field. This is a move on account of the gestation crisis which is creating a shadow in India also. So it might take a few more months for us to, you know, have some clarity on this year’s larger recruitment. So at the moment we have stopped recruiting, we are focusing on training the people we have hired last year and putting them into practice through various branch offices, etc. So this might for the current number we may not be hiring incremental people but we will replace if there are vacancies and ic.<\/p>\n

So that is our plan for current year with regard to offense on the IT side, I have my colleague J. Shishitaran, executive director is here. I’m requesting him to address that question.<\/p>\n

Jayakrishnan Sasidharan<\/strong><\/p>\n

Thank you. So this is Jay Shashitaran and from an IT perspective we are in the midst of transformation initiatives and we are gearing up our systems to cater to the increased business that we are projecting for as part of the initiatives that Mr. Sadish talked about in the beginning. So we have an aggressive plan to leverage digital. We have an aggressive plan plan to leverage data. We have planned to leverage customer experience and improving our front end systems that engage with our customers.<\/p>\n

So towards that we have lined up about 30 crores for the next three years to come in into the business. So that’s where we are focusing on from an investment perspective.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

This is helpful. So my next question is about lending book. So what do you plan to grow this lending book for the current year and any plan to launch new EIF or new PMF scheme<\/p>\n

Satish Menon<\/strong><\/p>\n

On the lending side. Of course most of the money what we lent is on the margin funding side and we intend to grow the book also the market is active on the schemes of new PMS aif. We are launching one which will take it is an application stage and AIF through the gift city route. That is what is there in the pipeline. We have built the PMS team and my feeling is maybe for this financial year maybe one or two more schemes in PMS also. Thank you.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Yeah. Okay. Sir. And sir, one more question about regarding what is the cash in the book as on the 31st of March and what is the plan for private wealth team to grow this year?<\/p>\n

Satish Menon<\/strong><\/p>\n

Okay, the first question of the cash will be answered by Mini Nair, CFO and Private Wealth. We have Rahul Roy Chowdhury who is the CEO of Private Wealth. He can take up the questions on Private Wealth. Over to you Minnie.<\/p>\n

Mini Nair<\/strong><\/p>\n

Thank you Pratish. I’m Mini Nayak, CFO of the company. So the cash available, the balance sheet of the company is 10001115 crores. Out of this around 700800 crores is already used for funding the MTF book. Then we have a LAS the NBFC and then we have the client funding whenever required. The cash available, liquid cash available is around 375crores as on 31st March 2026. Thank you. On Private Wealth. Rahul can explain.<\/p>\n

Rahul Roy Chowdhury<\/strong><\/p>\n

Yeah. Hi. Good morning Mr. Chandra, this is. I’m the CEO for private drug business. So we grew approximately around 40% last year as far as our agents are concerned. And we have strengthened the sales team also. So now we Approximately have around 55 odd RNs on the ground with a total staff of around 90 people. We intend to hire around 25 to 30 relationship manager in this financial year. Slowly, steadily the brand is getting recognized from a private world standpoint and from a wealth management standpoint.<\/p>\n

So hiring has become slightly easier and we are getting decent talent who are willing to discuss with us. So I think from a next year standpoint we will keep focusing on hiring the right talent. Increasing the productivity of the relationship managers on a month, on month basis and working towards creating high quality trail bearings assets under management. So that’s. That’s the specific plan as far as private business is concerned.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Okay. And can you elaborate in terms of Aum what it was as on 31st March and number of branches in the Private wealth And if you have any plan to open new branches in Private wealth.<\/p>\n

Rahul Roy Chowdhury<\/strong><\/p>\n

Okay, so AUM as on the 31st of March was approximately 2,400 odd crores as of now the number of branches. So we have approximately five branches in Kerala, Chennai, Hyderabad, Bangalore, Bombay, Pune. We have just recently started Delhi and Calcutta. We don’t intend to expand more cities as of now but we want to go deeper as far as these cities are only concerned because there’s immense potential as far as these cities are concerned. And lot of these cities have a hub and spoke model. So for example from a Pune market I can cater to A lot of internal territories of Maharashtra from a Hyderabad I can take care of a lot of Andra situation and Bangalore and Chennai also similarly.<\/p>\n

So that’s, that’s the intent. So we would make these branches, these branches stronger, hire, hire more talent in these particular locations and go deeper as well as these markets from an FY27.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Okay, thank you so much and all the best And I’m happy to see the aggression in yogit which earlier it was missing. Thank you. Thank<\/p>\n

Satish Menon<\/strong><\/p>\n

You. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question comes from the line of Yogeshroff from Magnus Hathaway Investments. Please go ahead.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Hi. Thank you so much for taking the follow up question. So my so I think as you mentioned that the current cash on books is around 1100 crores which is a very significant part of our market cap as well. So do we have any plans to actually do any kind of a buyback or any kind of capital restructuring? That is one and just another thing is I think a lot of other companies in the, in the industry that we operate in for the MTS book the we usually lend money from the market given that it’s a safe kind of a lending.<\/p>\n

We can borrow money at 7,8% and then give it for MTF at 11 12%. So do we have any plans to use borrowed money for MTF or we’ll continue using our own cash on the books? Because that I believe can be a little bit inefficient in terms of the funding point of it. Just wanted your views on it. Thank you so much.<\/p>\n

Chenayappillil John George<\/strong><\/p>\n

Agree with your observation. We intend to borrow and finance the future requirements with regards to the MDF book and the loan again share book and the MDF fee with regard to buyback. We will wait for the CBA regulations to come out. There is a discussion paper out. Seems so after that we will take a view. We will be open to the idea at the appropriate time. Thank you<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

And thank you. I also want to know how has the client, the domestic client reaction been so obviously for a couple of other players in the industry what we saw was clients were actually putting in more money. They were topping up the accounts in terms of equity mutual fund. So how has the client reaction for us been in March and also how has the traction been in April since FCS Fire and Sweet Spire and everything was announced. Just some insights on that.<\/p>\n

Satish Menon<\/strong><\/p>\n

So on the mutual fund side the client correction is fantastic. Of course like I said in the beginning, beginning of FY26 was transformation for us. We were aggressively pushing to get mutual fund aem and that is why we are very happy to report when the industry saw close to minus 20% in the net inflows for equity mutual fund industry. GEOGIT has been able to do what it did last year. It is primarily because of our reach to our clients and the ability of GEOG staff to convince the client that should not panic in such situation and you should hold on and invest more.<\/p>\n

We have seen the SIP book also growing. So I think all those things is clear. To state that the handholding of clients with GeoGift has been quite good and people are actually increasing their investment amount at least compared to the market. So in the presentation also we have given mutual fund income by client vintage. Most of our income, actually 58% of our income comes from the clients who have been with us for more than seven years. So we have been, like I said in my beginning, we handhold our clients and participate with them throughout their wealth creation journey.<\/p>\n

And that is what we’ve seen in the question of April. Too early to say. Nothing much has happened in April. I think. Ceasefire, no ceasefire. I’m still not clear. I think that is the apprehension which most of the retail clients also has. It will take maybe another couple of months for us to get a clarity on the long term nature. Having said that, this could be some apprehension for the short term. For the long term, I don’t know. Two years, three years, five years. This industry as everybody expect, we also expect is expected to grow at least double digit percentages.<\/p>\n

Thank you.<\/p>\n

Yogesh Shroff<\/strong><\/p>\n

Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question comes from the line of SANA from ESTEC Advisory. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi Dean. Good morning. Am I audible to you?<\/p>\n

Satish Menon<\/strong><\/p>\n

Yes, you are.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hi sir. I have few questions on the operations. My first question is what initiatives are currently underway to improve our operational efficiency especially across our sales productivity and client servicing.<\/p>\n

Satish Menon<\/strong><\/p>\n

Okay. On the operational side. Okay. I will split this questions question into two portions. I will talk about the feet on street productivity and I’ll request my colleague Jay to speak about how it is being used to improve the productivity on the feet on street productivity. Of course we always say that we have to train people. Since 700, 800 people are new in the system. The first job for us is to train them. We use in house. We use out of specialized agencies also to train. We give these employees clients also to start their sales process and we come out with different incentive schemes to encourage them.<\/p>\n

So we have. I don’t know whether to get into details for a fresher. We have targets which are lower than experienced people. All sort of those things. And what we have seen is that the productivity of employees is increasing. Like I said, the mutual funded inflow in spite of the market being negative, we are at least not negative. You have seen in the last year the penetration of insurance and especially health insurance which we started actually doing last year we did close to 22 crores of premium in health insurance.<\/p>\n

Previous to that we were doing only live. So all those people when the market, the stock market is not so good, have been looking at product other than stock market for the US which is insurance. So we are very happy with what we have invested. Of course, new people, it takes time for them to blossom and the idea is to handhold them. They stay with us for a couple of years. Post that the attrition rates come down. I would give this to Jay to explain how it is helping us in productivity.<\/p>\n

Jayakrishnan Sasidharan<\/strong><\/p>\n

Thank you Mr. So I will answer this in two levels. One, at a strategic level, how we are thinking about this is that we need to get into a lot more integrated systems to reduce the manual interventions that need that happen within the organization. So that’s one strategic initiative that we are driving. The second one is in terms of how do we leverage a lot more automation to enable our customer service, customer support and everybody who engages with customers to be a lot more efficient. So at that if I leave it there and then look at what are we doing on the ground on our systems.<\/p>\n

For example, when we onboard our customers, when they get onto geojis systems, we are ensuring that we minimize everything from from a manual perspective. So we want to have a way where customers can smoothly get onboarded where internal support from a manual support perspective is ready. So that’s one example of how we are bringing automation in front of customers and even within our operations. The second is in terms of we have quite a few emails that come in from customers in terms of support and, and as we look at these emails we need to prioritize, we need to respond to them quite quickly and we have brought in some AI technology to ensure that this is done efficiently and quickly.<\/p>\n

So those are some of those technologies and solutions that we have brought in at various levels. And we are looking at almost every aspect of our business in terms of reducing these manual interventions. So those are few examples and happy to talk about it in more if there are additional questions. Thank you.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir. My second question is how will ROE evolve over next few years and how will client growth and AUM expansion will support it?<\/p>\n

Satish Menon<\/strong><\/p>\n

Sorry, we will not give any future statements. I can only say What I again said in the beginning, we are consciously and aggressively looking at building our trail bearing area and that will be our focus. Unfortunately we cannot answer more than that in terms of future numbers.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay sir, no problem. Thank you so much and all the best.<\/p>\n

Satish Menon<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

The next question comes from the line of Mahesh Kumar from Microtone Technology. Please go ahead.<\/p>\n

Mahesh Kumar<\/strong><\/p>\n

Hi sir. Good morning and thanks for the opportunity. So I just had one question on the PMS growth. So our PMS division growth appears a bit modest despite, you know, industry tailwinds. So what are the key bottlenecks that we are facing and how do we plan to scale in in the HNI and UHNI segment?<\/p>\n

Satish Menon<\/strong><\/p>\n

Actually to just to put it correctly, we have grown around 8% in BMS AEM year on year. And if I remember right, report said that the top 100PMS provider they were down 10%. So I am little unsure about the question asked because of course the size is very small. But we have grown 8%. Aspiration is to go much higher also. And if you would see this, though we had PMS from 2003 onwards, we have actually started selling PMS only in the last three years. If you look at the presentation in FY23 our AEM was only 450 crores asset management business.<\/p>\n

Now it is 1450 crores. Though of course last year the growth has not been changed. But when we compare it to the industry they are slightly better. Of course the base is small but 450 in three years has become 1450. And we intend to invest in those in that asset management business.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question comes from the line of Tejpan. Please go ahead.<\/p>\n

Mahesh Kumar<\/strong><\/p>\n

Tejmaal,<\/p>\n

Operator<\/strong><\/p>\n

Please go ahead with your question and unmute your line in case if it’s on mute. Since there’s no response from the participant, we move to the next participant that is Nisha Jain, an individual investor. Please go ahead. Nisha, please go ahead with your question and kindly unmute your line.<\/p>\n

Nisha Jain<\/strong><\/p>\n

Hello.<\/p>\n

Operator<\/strong><\/p>\n

Yes, please go ahead.<\/p>\n

Nisha Jain<\/strong><\/p>\n

Good morning sir. So I had couple of questions. So You’ve added around 1.5 lakh clients during the year. So what is the revenue per client and versus the legacy client? And how does the profitability profile differ from clients and the new ones?<\/p>\n

Satish Menon<\/strong><\/p>\n

Without getting into details of the costing per client, I can only give the details of the legacy clients. When you look at our presentation we have given two metrics. One for the stockbroking, other for the mutual fund. Where you see the legacy clients which we call seven years ago above contribute in both the cases, 58 to 60% of the total income in the respective field. So in our case, and you could also see the AEM per client going up in FY22 it was close to 3 and a half lakhs. Mutual fund per client has gone to 5 lakh rupees per client.<\/p>\n

In terms of client recruitment, yes, 1.5 lakhs client. And unlike so in our case, since we hire clients for broking as well as for mutual funds idea. The idea is to handhold the client and let the client remain with us for a longer time. Longer time. So we make. So we make higher revenue for the client compared to the industry and compared to the most of the people in the industry. Because our revenue comes into these broking as well as from mutual funds. I will not get into details about cost per new clients or the revenue per new client.<\/p>\n

Nisha Jain<\/strong><\/p>\n

And so You’ve also added 700 new employees largely on the sales side. So what is the expected payback period? And in terms of revenue and profitability? Contributions.<\/p>\n

Satish Menon<\/strong><\/p>\n

We expect the new salespeople to break in within 12 to 18 months. It all depends on the product mix. When the market, when the stock market especially is not well, it will be done through insurance. Otherwise stock market itself can take it. So the contribution comes from brokerage as well. Is from mutual fund. If it is only mutual fund, it will take a longer time because it is on trail bearing. Otherwise the expectation is 12 to 18 months.<\/p>\n

Nisha Jain<\/strong><\/p>\n

Okay, so and so. Okay. You also highlight like there’s this strategic shift. So how will it not dilute the roe?<\/p>\n

Satish Menon<\/strong><\/p>\n

We. We are not looking at raising capital as of now. There is nothing on the line. No discussion. Also what we said is we will be investing in people and in technology for our strategic shift. That is what you saw in the financial year 26 results which has almost 54 crores of expenses which has been booked towards this transfer. And for the next couple of years there would be investments similar to this kind both in employees as well as in IT infrastructure and operations. For completing this strategy shift.<\/p>\n

What you saw last year though the mutual fund insurance income, that is the distribution income has gone up substantial portion which comes from brokerage went down. So that is why you have seen an effect on ROE being reduced. This being the case, I don’t foresee the stock market being as bad as it was last year. But if it is the case, yes, there will be cost associated to the transformation for the next two years at least for us to reach our objectives.<\/p>\n

Chenayappillil John George<\/strong><\/p>\n

To add to what Mr. Satishmanand said, let me tell you that the cost for this transformation will be funded through internal resources. We have no plan to raise capital. Having said this with regard to roe, let me also repeat what what I said earlier. If the regulations change appropriately, we will look at buyback also at the appropriate time. So this is what I would like to say on this point. Thank you.<\/p>\n

Nisha Jain<\/strong><\/p>\n

Sure, sir. Thank you so much and good luck.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen. That was the last question for today. I would now like to hand the conference over to Mr. Satish Menon for the closing remarks.<\/p>\n

Satish Menon<\/strong><\/p>\n

I have nothing more to add. We have uploaded a detailed presentation. A new format in the website of Georgit is also available with the Exchange. It gives you lot of minute details about the business and the business business figures. So I conclude this thing saying that transformation is happening and we will be looking at increasing our recurring revenue base in the next years to come. That’s all. Thank you very much. Have a good day. Ladies and gentlemen. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you, sir. Ladies and gentlemen, on behalf of JIOJIT Financial Services Limited Earnings conference call. That concludes this conference call. Thank you for joining us. And you may now disconnect your lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Geojit Financial Services Ltd (NSE: GEOJITFSL) Q4 2026 Earnings Call dated Apr. 30, 2026 Corporate Participants: Satish Menon \u2014 Executive Director Jones George \u2014 Executive Director Mini Nair \u2014 Chief Financial Officer Chenayappillil John George […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-182134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":109778,"url":"https:\/\/alphastreet.com\/india\/infosys-limited-infy-q4-2021-earnings-call\/","url_meta":{"origin":182134,"position":0},"title":"Infosys Limited (INFY) Q4 2021 Earnings Call","author":"Sahil Anand","date":"April 21, 2021","format":false,"excerpt":"Infosys Limited (NYSE: INFY) Q4 2021 earnings call dated\u00a0Apr. 14, 2021 Corporate Participants: Sandeep Mahindroo\u00a0\u2014\u00a0Vice President, Financial Controller & Head \u2013 Investor Relations Salil Parekh\u00a0\u2014\u00a0Chief Executive Officer and Managing Director Pravin Rao\u00a0\u2014\u00a0Chief Operating Officer and Whole-time Director Nilanjan Roy\u00a0\u2014\u00a0Chief Financial Officer Analysts: Ankur Rudra\u00a0\u2014\u00a0JPMorgan \u2014 Analyst Diviya Nagarajan\u00a0\u2014\u00a0UBS \u2014 Analyst\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":144818,"url":"https:\/\/alphastreet.com\/india\/geojit-financial-services-ltd-geojitfsl-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":182134,"position":1},"title":"Geojit Financial Services Ltd (GEOJITFSL) Q4 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"May 3, 2023","format":false,"excerpt":"Geojit Financial Services Ltd (NSE:GEOJITFSL) Q4 FY23 Earnings Concall dated May. 02, 2023. 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