Ajcon Global Services Ltd

AJCON

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Market Cap

₹ 49 Cr

P/E

—

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Investment Checklist

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Performance

MARKET LEADER

Valuation

REASONABLE

Growth

SLUGGISH

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

HIGH RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Ajcon Global Services Limited is a financial services company primarily engaged in stock broking, corporate advisory, and merchant banking services.

Founded in 1986, Ajcon has significantly expanded its market reach both locally and internationally, serving a diverse clientele base.

The firm is registered with SEBI and operates as a member of both the National Stock Exchange and Bombay Stock Exchange.

Ajcon Global has established relationships with major financial institutions and mutual funds, enhancing its market presence.

The company holds a strong promoter holding, with 67.48% equity share capital owned by the Promoters Group.

Sector

Stock/ Commodity Brokers

Industry

Securities/Commodities Trading Services

Market Cap

49 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

41.1

PEG Ratio

—

P/B Ratio

1.9

52W High

14.47

52W Low

5.82

Sales CAGR

4.48%

-27.52%

-10.18%

10Y

11.16%

Profit CAGR

-56.15%

-43.53%

—

10Y

-0.98%

ROE

TTM

-0.17%

3.16%

5.20%

10Y

2.74%

ROCE

TTM

2.30%

5.56%

6.97%

10Y

7.09%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GOGIACAP	86.27	55 Cr	—	1.92	0.00	-8.15	-8.14	-7.76
BRIDGESE	13.51	53 Cr	48.75	11.03	0.00	25.22	36.66	17.67
NAM	95.95	52 Cr	218.07	4.43	0.00	2.02	2.86	1.95
AJCON	8.15	49 Cr	—	1.89	0.00	-0.17	2.30	-0.05
RELICTEC	80.00	41 Cr	—	2.76	0.00	-18.29	-20.39	-29.88
WALCHPF	133.00	39 Cr	13.94	1.32	0.75	9.46	12.27	7.63
KHANDSE	22.03	34 Cr	—	1.18	0.00	-6.51	-2.14	-3.60

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	6.60	3.02	3.70	3.67	4.47	5.89	3.44	3.37	2.61	11
Expenses	5.53	2.38	3.03	3.38	3.78	4.66	2.82	4.15	2.14	9.87
Interest	0.20	0.19	0.21	0.13	0.18	0.21	0.21	0.20	0.19	0.24
Financing Profit	0.87	0.45	0.46	0.16	0.51	1.02	0.41	-0.98	0.28	0.43
Financing Margin %	13.18	14.90	12.43	4.36	11.41	17.32	11.92	-29.08	10.73	4.08
Other Income	0.03	0.03	0.04	0.06	0.05	0.05	0.05	0.07	0.07	0.06
Depreciation	0.10	0.10	0.10	0.10	0.10	0.09	0.09	0.10	0.09	0.09
Profit Before Tax	0.80	0.39	0.40	0.11	0.47	0.97	0.36	-1.02	0.25	0.41
Tax %	25.00	20.51	25.00	9.09	25.53	25.77	25.00	23.53	24.00	24.39
Net Profit	0.60	0.30	0.30	0.10	0.35	0.73	0.27	-0.78	0.19	0.30
EPS in Rs	0.10	0.05	0.05	0.02	0.06	0.12	0.04	-0.13	0.30	0.04
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	8.91	8.10	33	28	48	41	8.51	16	17	15
Expenses	6.23	5.58	31	28	46	38	6.68	13	15	14
Interest	1.86	1.51	1.90	1.23	0.92	0.59	0.76	0.73	0.80	0.81
Financing Profit	0.82	1.01	0.20	-1.67	0.84	2.84	1.06	1.99	0.95	0.73
Financing Margin %	9.21	12.51	0.61	-6.04	1.76	6.85	12.49	12.43	5.71	4.77
Other Income	0.36	0.19	0.26	0.56	1.12	0.23	0.10	0.10	0.21	0.24
Depreciation	0.28	0.24	0.41	0.40	0.40	0.37	0.38	0.39	0.37	0.37
Profit Before Tax	0.90	0.96	0.06	-1.52	1.57	2.70	0.78	1.70	0.79	0.56
Tax %	34.16	23.32	2.46	-1.72	-0.13	19.10	26.76	23.36	27.19	26.79
Net Profit	0.62	0.74	0.06	-1.54	1.57	2.18	0.57	1.30	0.57	0.41
EPS in Rs	0.09	0.13	-0.26	-0.26	0.26	0.36	0.09	0.20	0.09	0.26
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	6.12	6.12	6.12	6.12	6.12	6.12	6.12	6.12	6.12	6.12
Reserves	11	12	13	13	11	13	15	16	17	19
Borrowings	19	17	20	18	19	12	9.72	11	10	9.99
Other Liabilities	3.16	3.28	4.71	4.32	4.15	5.12	4.07	5.24	5.30	4.87
Total Liabilities	40	38	44	41	41	36	35	38	38	40
Fixed Assets	1.80	1.72	1.51	2.14	1.77	1.77	1.58	2.54	2.23	2.18
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	1.42	1.42	1.42	1.42	1.42	1.42	1.42
Other Assets	38	37	42	38	37	33	32	34	35	36
Total Assets	40	38	44	41	41	36	35	38	38	40

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	14	3.57	12	1.79	-0.72	8.48	3.08	-0.94	-0.15	-1.12
Cash from Investing Activity	-1.13	0.26	-14	-0.11	-0.04	-0.40	-0.18	-0.24	-0.08	-0.32
Cash from Financing Activity	-14	-3.11	2.48	-2.94	0.79	-6.68	-2.67	1.10	-0.77	1.59
Net Cash Flow	-1.29	0.73	0.43	-1.27	0.03	1.41	0.23	-0.08	-1.00	0.15

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	67.48%	67.48%	67.48%	67.48%	67.04%	66.74%	66.25%	65.84%	65.84%	65.84%	65.84%	65.84%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.85%	0.85%	0.85%	0.85%	0.85%	0.85%	0.85%	0.85%	0.85%	0.85%	0.85%	0.85%
Public	31.67%	31.67%	31.67%	31.67%	32.11%	32.40%	32.90%	33.30%	33.30%	33.30%	33.30%	33.30%
Total Shareholders	2,424	2,428	2,451	2,460	2,549	2,613	2,648	2,850	2,985	2,807	5,272	5,176

Projection

Actions

Action Type

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Presentations

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	6.60	3.02	3.70	3.67	4.47	5.89	3.44	3.37	2.61	11
Expenses	5.53	2.38	3.03	3.38	3.78	4.66	2.82	4.15	2.14	9.87
Interest	0.20	0.19	0.21	0.13	0.18	0.21	0.21	0.20	0.19	0.24
Financing Profit	0.87	0.45	0.46	0.16	0.51	1.02	0.41	-0.98	0.28	0.43
Financing Margin %	13.18	14.90	12.43	4.36	11.41	17.32	11.92	-29.08	10.73	4.08
Other Income	0.03	0.03	0.04	0.06	0.05	0.05	0.05	0.07	0.07	0.06
Depreciation	0.10	0.10	0.10	0.10	0.10	0.09	0.09	0.10	0.09	0.09
Profit Before Tax	0.80	0.39	0.40	0.11	0.47	0.97	0.36	-1.02	0.25	0.41
Tax %	25.00	20.51	25.00	9.09	25.53	25.77	25.00	23.53	24.00	24.39
Net Profit	0.60	0.30	0.30	0.10	0.35	0.73	0.27	-0.78	0.19	0.30
EPS in Rs	0.10	0.05	0.05	0.02	0.06	0.12	0.04	-0.13	0.30	0.04
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	8.91	8.10	33	28	48	41	8.51	16	17	15
Expenses	6.23	5.58	31	28	46	38	6.68	13	15	14
Interest	1.86	1.51	1.90	1.23	0.92	0.59	0.76	0.73	0.80	0.81
Financing Profit	0.82	1.01	0.20	-1.67	0.84	2.84	1.06	1.99	0.95	0.73
Financing Margin %	9.21	12.51	0.61	-6.04	1.76	6.85	12.49	12.43	5.71	4.77
Other Income	0.36	0.19	0.26	0.56	1.12	0.23	0.10	0.10	0.21	0.24
Depreciation	0.28	0.24	0.41	0.40	0.40	0.37	0.38	0.39	0.37	0.37
Profit Before Tax	0.90	0.96	0.06	-1.52	1.57	2.70	0.78	1.70	0.79	0.56
Tax %	34.16	23.32	2.46	-1.72	-0.13	19.10	26.76	23.36	27.19	26.79
Net Profit	0.62	0.74	0.06	-1.54	1.57	2.18	0.57	1.30	0.57	0.41
EPS in Rs	0.09	0.13	-0.26	-0.26	0.26	0.36	0.09	0.20	0.09	0.26
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	6.12	6.12	6.12	6.12	6.12	6.12	6.12	6.12	6.12	6.12
Reserves	11	12	13	13	11	13	15	16	17	19
Borrowings	19	17	20	18	19	12	9.72	11	10	9.99
Other Liabilities	3.16	3.28	4.71	4.32	4.15	5.12	4.07	5.24	5.30	4.87
Total Liabilities	40	38	44	41	41	36	35	38	38	40
Fixed Assets	1.80	1.72	1.51	2.14	1.77	1.77	1.58	2.54	2.23	2.18
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	1.42	1.42	1.42	1.42	1.42	1.42	1.42
Other Assets	38	37	42	38	37	33	32	34	35	36
Total Assets	40	38	44	41	41	36	35	38	38	40

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	14	3.57	12	1.79	-0.72	8.48	3.08	-0.94	-0.15	-1.12
Cash from Investing Activity	-1.13	0.26	-14	-0.11	-0.04	-0.40	-0.18	-0.24	-0.08	-0.32
Cash from Financing Activity	-14	-3.11	2.48	-2.94	0.79	-6.68	-2.67	1.10	-0.77	1.59
Net Cash Flow	-1.29	0.73	0.43	-1.27	0.03	1.41	0.23	-0.08	-1.00	0.15

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Ajcon Global Services Limited is a financial services company primarily engaged in stock broking, corporate advisory, and merchant banking services.

Founded in 1986, Ajcon has significantly expanded its market reach both locally and internationally, serving a diverse clientele base.

The firm is registered with SEBI and operates as a member of both the National Stock Exchange and Bombay Stock Exchange.

Ajcon Global has established relationships with major financial institutions and mutual funds, enhancing its market presence.

The company holds a strong promoter holding, with 67.48% equity share capital owned by the Promoters Group.

Sector

Stock/ Commodity Brokers

Industry

Securities/Commodities Trading Services

Market Cap

49 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

41.1

PEG Ratio

—

P/B Ratio

1.9

52W High

14.47

52W Low

5.82

Sales CAGR

4.48%

-27.52%

-10.18%

10Y

11.16%

Profit CAGR

-56.15%

-43.53%

—

10Y

-0.98%

ROE

TTM

-0.17%

3.16%

5.20%

10Y

2.74%

ROCE

TTM

2.30%

5.56%

6.97%

10Y

7.09%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GOGIACAP	86.27	55 Cr	—	1.92	0.00	-8.15	-8.14	-7.76
BRIDGESE	13.51	53 Cr	48.75	11.03	0.00	25.22	36.66	17.67
NAM	95.95	52 Cr	218.07	4.43	0.00	2.02	2.86	1.95
AJCON	8.15	49 Cr	—	1.89	0.00	-0.17	2.30	-0.05
RELICTEC	80.00	41 Cr	—	2.76	0.00	-18.29	-20.39	-29.88
WALCHPF	133.00	39 Cr	13.94	1.32	0.75	9.46	12.27	7.63
KHANDSE	22.03	34 Cr	—	1.18	0.00	-6.51	-2.14	-3.60