Arihant Capital Markets Limited

Quarterly earnings show extreme volatility—net profit ranges from ₹1.28 Cr (Mar 2026) to ₹21.49 Cr (Jun 2026); verify what drives these swings and whether the business model is viable at lower volumes.

ROE of 2.66% is critically low, indicating poor capital efficiency; verify asset base, returns calculation, and whether this reflects temporary weakness or structural issues.

Operating margins collapse to 16–20% in weak quarters (Mar 2026) from 42–45% in strong ones, exposing fixed-cost burden; verify cost structure and whether pricing power exists.

Stock declined 23.59% over 12 months despite strong recent quarter; verify whether market questions earnings sustainability, sector headwinds, or valuation levels.

Revenue grew 59% from Dec 2025 (₹49.05 Cr) to Jun 2026 (₹77.91 Cr), driven by higher trading volumes; verify if trend is sustained or seasonal.

Operating margins reach 45.39% in peak quarters (Jun 2026), demonstrating potential for scaled profitability; verify if repeatable or dependent on exceptional market conditions.

D/E ratio of 0.54 is conservative, providing capacity for growth investments or expanded shareholder returns; verify capital allocation strategy.

Minimal institutional holdings (FII 0.03%, DII 0.03%) represent addressable market for investor base expansion; verify product competitiveness and service differentiation.