Key Metrics of Ay Securities & Commodities Limited
About Ay Securities & Commodities Limited
Sectors
Company details
Operational Areas of Ay Securities & Commodities Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 20 Apr 2026 | ICRA | Reaffirmed | AA- | — | Stable | ₹489 Cr | View |
Credit strengths (ICRA, Apr 2026)
+ Long track record and established market position of brokerage and clearing businesses
The Group enjoys an extensive track record of over three decades in capital market and allied services across the equity, currency and commodities segments with a focus on high-net-worth individual (HNI) clients.
+ Comfortable capitalisation profile
The consolidated capitalisation position is comfortable with a gearing of 0.5 times and a net worth of Rs. 3,765 crore as on December 31, 2025 (0.3 times and Rs. 3,318 crore, respectively, as on March 31, 2025).
+ Adequate profitability
The Group’s profitability remains adequate, with a consolidated RoE of 17.2% in 9M FY2026 (13.9% in FY2025), supported by the increase in trading income.
Credit challenges
− Vulnerable income profile owing to concentration in capital markets
The Group is exposed to the inherent volatility associated with capital markets as its businesses are directly or indirectly linked to their performance.
− Concentration risk in NBFC book
GFL’s loan book is concentrated, with the top 20 exposures accounting for 110% of the total net worth as on December 31, 2025 (92% as on March 31, 2025), which is unlikely to change in the near-to-medium term.
− Elevated competition, high dependence on technology and evolving regulatory environment
The sector remains characterised by intense competition and susceptibility to the entry of new players.
Could lead to an upgrade
A significant increase in the scale of operations, while maintaining/improving the profitability across segments on a sustained basis and maintaining a prudent capitalisation profile, could positively impact the rating.
Could lead to a downgrade
Substantial weakening in the Group’s profitability or leverage indicators, adversely affecting its financial risk profile, or a significant deterioration in the asset quality of the NBFC could negatively impact the ratings.
Agency-reported financials (ICRA, 20 Apr 2026)
| Metric | FY2024 | FY2025 | 9M FY2026 |
|---|---|---|---|
| Net operating income* | ₹625 Cr | ₹788 Cr | ₹602 Cr |
| Profit after tax | ₹623 Cr | ₹432 Cr | ₹456 Cr |
| Net worth | 2,887.10× | 3,317.80× | 3,764.70× |
| Total assets | ₹15,003 Cr | ₹14,719 Cr | ₹17,216 Cr |
| Gearing (times) | 0.20× | 0.30× | 0.50× |
| Return on average net worth | 24.2% | 13.9% | 17.2% |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long Term Bank Lines (Fund based non-fund based) | Non-fund based limits | ₹489 Cr | ₹489 Cr | 0.0% | AA- (Stable) | Reaffirmed | ICRA |
Credit assessment · Banks, NBFCs & HFCs
Financial Ratios – Financial Sector (Feb 2025) · Standalone accounts · FY 2024-25
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 58% |
| Information on file | 33% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 58% chance the next rating action is stable or better
- Current rating AA- (investment grade)
Rated limits by facility
Timeline
From the report
Liquidity position: Adequate The liquidity position is adequate at the consolidated level with a free unencumbered cash and bank balance of ~Rs. 732 crore (0.4 times of external borrowings), sanctioned unutilised fund -based bank lines of ~Rs. 200 crore and an intraday limit of Rs. 2,525 crore as on December 31, 2025.
From the report
Liquidity position: Adequate The liquidity position is adequate at the consolidated level with a free unencumbered cash and bank balance of ~Rs. 732 crore (0.4 times of external borrowings), sanctioned unutilised fund -based bank lines of ~Rs. 200 crore and an intraday limit of Rs. 2,525 crore as on December 31, 2025.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Ay Securities & Commodities Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Larsen & Toubro |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | larsentoubro.com | 1938 | Mumbai, India |
| Part of Life Insurance Corporation of India. | itcportal.com | 1910 | Kolkata, India | |
| Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | arvind.com | — | Ahmedabad, India | |
 Thermax |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | thermaxglobal.com | 1980 | Pune, India |
| Fintech, Broking & Market Infrastructure · Finance | angelone.in | — | Mumbai, Maharashtra, India | |
 Nuvama Wealth Management Limited |
Fintech, Broking & Market Infrastructure · Finance | nuvamawealth.com | — | Mumbai, Maharashtra, India |
 Kirloskar Brothers |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | kirloskarpumps.com | 1888 | Pune, India |
| 360 One Wam Limited | Discovered Companies · Other Industries | — | — | Mumbai, Maharashtra, India |
| HDFC Asset Management Company Limited | Fintech, Broking & Market Infrastructure · Banking & Financial Services | — | — | Mumbai, Maharashtra, India |
 Emami |
Shampoo, Hair Oil & Hair Care · FMCG - Personal & Home Care | emamiltd.in | 1974 | Kolkata, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.