MASTERTR

Master Trust Limited

Diversified financial services group offering broking, lending and wealth management

Financial Services›Financial Services›Capital Markets›Stockbroking & Allied

mastertrust.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹81.00
Market cap
996 Cr
Stock P/E
7.5
P/B
1.22
ROE (FY26)
15.4%
ROCE (FY26)
22.2%
Operating margin (FY26)
40.3%
Debt / equity (FY26)
0.28

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Master Trust is a Ludhiana-based financial services group where investors and traders can buy and sell shares, commodities and derivatives, and also get loans, wealth and portfolio management and insurance.

Company snapshot

18thBy market cap

Ranked among 31 companies in Stockbroking & Allied.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 91.3% of revenue

SegmentRevenue shareRevenuePBTAssets
BROKING & ALLIED
91.3%
422 Cr124 Cr—
INSURANCE BROKING
0.6%
3 Cr1 Cr—
INTEREST
2.0%
9 Cr12 Cr—
INVESTMENT / TRADING IN SECURITIES / LAND & OTHERS
2.6%
12 Cr3 Cr—
PORTFOLIO MANAGEMENT SERVICES
3.6%
16 Cr——

What we see

Positives
  • ✓Net margin of 21.9% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Net Interest Income————————————
Other income0 Cr0 Cr0.01 Cr0.01 Cr0 Cr0 Cr0 Cr0 Cr0.03 Cr0 Cr0 Cr0 Cr
Net operating income0 Cr0 Cr0.01 Cr0.01 Cr0 Cr0 Cr0 Cr0 Cr0.03 Cr0 Cr0 Cr0 Cr
Employee cost24 Cr23 Cr22 Cr24 Cr20 Cr21 Cr21 Cr23 Cr20 Cr23 Cr48 Cr30 Cr
Other expenses35 Cr32 Cr50 Cr53 Cr46 Cr47 Cr34 Cr42 Cr33 Cr37 Cr54 Cr43 Cr
Provisions & contingencies————————————
Depreciation1 Cr0.98 Cr0.93 Cr1 Cr1 Cr1 Cr0.59 Cr1 Cr1 Cr1 Cr1 Cr1 Cr
Profit before tax31 Cr37 Cr52 Cr45 Cr49 Cr47 Cr37 Cr36 Cr43 Cr45 Cr49 Cr46 Cr
Tax %23.6%24.3%26.9%23.8%24.0%25.6%34.4%24.4%27.4%29.4%26.0%25.1%
Net profit23 Cr28 Cr38 Cr35 Cr37 Cr35 Cr25 Cr27 Cr31 Cr32 Cr36 Cr35 Cr
EPS (₹)₹10.70₹12.80₹17.40₹15.90₹3.40₹3.20₹2.20₹2.40₹2.70₹2.70₹3.00₹2.80

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Net Interest Income——————————Sign in free for the trailing twelve months
Other income——0 Cr0 Cr0.11 Cr0.09 Cr0.14 Cr0.07 Cr0 Cr0 CrSign in free for the trailing twelve months
Net operating income——0 Cr0 Cr0.11 Cr0.09 Cr0.14 Cr0.07 Cr0 Cr0 CrSign in free for the trailing twelve months
Employee cost21 Cr29 Cr34 Cr37 Cr53 Cr69 Cr56 Cr86 Cr86 Cr115 CrSign in free for the trailing twelve months
Other expenses64 Cr94 Cr67 Cr41 Cr72 Cr95 Cr106 Cr143 Cr180 Cr167 CrSign in free for the trailing twelve months
Provisions & contingencies——————————Sign in free for the trailing twelve months
Depreciation2 Cr3 Cr1 Cr2 Cr1 Cr2 Cr3 Cr4 Cr4 Cr4 CrSign in free for the trailing twelve months
Profit before tax9 Cr13 Cr12 Cr13 Cr43 Cr72 Cr85 Cr144 Cr179 Cr172 CrSign in free for the trailing twelve months
Tax %33.6%22.5%22.5%8.4%19.9%23.3%22.2%24.9%26.6%26.9%Sign in free for the trailing twelve months
Net profit6 Cr10 Cr10 Cr12 Cr34 Cr55 Cr66 Cr108 Cr131 Cr126 CrSign in free for the trailing twelve months
EPS (₹)₹5.36₹9.23₹8.80₹5.70₹15.80₹25.40₹30.30₹49.70₹11.80₹10.60Sign in free for the trailing twelve months
Dividend payout %————0.0%0.0%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital11 Cr11 Cr11 Cr11 Cr11 Cr11 Cr11 Cr11 Cr11 Cr12 Cr
Reserves166 Cr174 Cr184 Cr203 Cr245 Cr289 Cr354 Cr493 Cr627 Cr805 Cr
Borrowings74 Cr69 Cr—104 Cr95 Cr97 Cr159 Cr187 Cr258 Cr228 Cr
Other liabilities212 Cr236 Cr373 Cr238 Cr435 Cr631 Cr704 Cr1,091 Cr1,055 Cr1,198 Cr
Total liabilities464 Cr491 Cr568 Cr557 Cr786 Cr1,028 Cr1,230 Cr1,785 Cr1,953 Cr2,244 Cr
Fixed assets (net)9 Cr8 Cr10 Cr10 Cr10 Cr12 Cr14 Cr15 Cr15 Cr14 Cr
CWIP——————0 Cr—0 Cr—
Investments25 Cr21 Cr37 Cr27 Cr23 Cr16 Cr15 Cr21 Cr25 Cr39 Cr
Loans & advances———75 Cr70 Cr55 Cr81 Cr73 Cr143 Cr30 Cr
Inventories14 Cr22 Cr27 Cr19 Cr12 Cr32 Cr17 Cr23 Cr19 Cr9 Cr
Trade receivables86 Cr114 Cr91 Cr35 Cr66 Cr56 Cr50 Cr125 Cr161 Cr184 Cr
Cash & bank228 Cr233 Cr295 Cr328 Cr576 Cr7 Cr19 Cr10 Cr45 Cr88 Cr
Other assets102 Cr94 Cr107 Cr63 Cr29 Cr851 Cr1,034 Cr1,518 Cr1,546 Cr1,881 Cr
Total assets464 Cr491 Cr568 Cr557 Cr786 Cr1,028 Cr1,230 Cr1,785 Cr1,953 Cr2,244 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity52 Cr-2 Cr82 Cr14 Cr108 Cr-15 Cr10 Cr458 Cr-37 Cr311 Cr
Cash from investing2 Cr7 Cr-18 Cr19 Cr2 Cr6 Cr3 Cr-493 Cr54 Cr-325 Cr
Cash from financing0 Cr0 Cr-1 Cr0 Cr0 Cr0 Cr0 Cr25 Cr18 Cr56 Cr
Net cash flow54 Cr5 Cr62 Cr33 Cr110 Cr-9 Cr13 Cr-10 Cr35 Cr43 Cr
Free cash flow (OCF − Capex)51 Cr-4 Cr78 Cr13 Cr107 Cr-19 Cr6 Cr453 Cr-41 Cr308 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %9.6%12.6%16.8%9.8%17.7%27.0%22.3%28.9%26.7%22.2%
ROE %3.3%5.4%4.9%5.7%13.4%18.4%18.0%21.4%20.5%15.4%
Debtor days28326524894107615391100116
Inventory days4550735220351817125
Days payable654494————————
Cash conversion cycle-325-1793211471269671108112122
Debt / equity0.420.370.000.480.370.320.440.370.400.28
Current ratio1.871.771.64———————
Net debt / EBITDA-5.89-4.70-8.62-6.84-7.600.831.160.870.880.59