Dam Capital Advisors Limited (DAMCAPITAL) share price

₹148.74 on NSE as of 2026-10-07. -2.47% on the day. market cap ₹1,051 Cr. P/E 14.5. 52-week range ₹121.48 to ₹263.22. Financial Services.

DAM Capital Advisors Q1 FY27: Revenue ₹29.86 Cr, PAT ₹0.15 Cr, and 26 IPOs Waiting in a Queue

At a glance

DAM Capital Advisors sells two things: advice to companies raising money, and share dealing for institutions. Revenue from operations in the three months to June 2026 was ₹29.86 crore. A year earlier it was ₹30.85 crore, so the fall is 3.21%. Profit after tax came to ₹0.15 crore, against ₹0.23 crore. Somewhere in the accounting department, a rounding convention is holding its breath.

Operating profit was ₹5.95 crore. The operating margin, which is that profit as a share of sales, was 19.93%. The June 2025 quarter showed 19.55%. Employee benefit expense was ₹18.16 crore, more than half of total income. That is three times the operating profit. Investment banks are people wearing suits, and the suits have salaries.

The company reports a pipeline of 26 public share issues as of 30 June 2026. Four of them were added during the quarter. Two equity capital market deals closed in the quarter, raising more than ₹1,400 crore. Equity capital markets work means helping companies sell shares to raise money. One was an offer for sale for NLC India, at ₹1,221 crore. An offer for sale is an existing holder selling shares through the exchange. The other was buyback advice for Welspun Living, at ₹252 crore. Net cash available stood at ₹312 crore, against ₹234 crore a year earlier.

The year to March 2026 brought revenue of ₹237.14 crore and profit after tax of ₹72.69 crore. Return on equity, the profit made on shareholders' money, was 24.4% for that year. Return on capital employed, the same idea counting borrowings too, was 35.4%. Quarterly profit through that year ran ₹0.23 crore, ₹52.15 crore, ₹20.06 crore, then ₹0.25 crore. The firm books fees when deals close, and deals do not consult the financial year.

Employee count rose from 130 at March 2026 to 136 at June 2026.

Introduction

DAM Capital Advisors Limited was incorporated in 1993, which makes its 33rd annual general meeting a middle-aged occasion. That meeting is scheduled for 8 September 2026. The registered office is on the ground floor of the Rotunda Building on Dalal Street. For a firm whose whole business is the Indian capital market, the letterhead is at least consistent.

The present shape of the firm dates to 11 November 2019, the date it acquired IDFC Securities. Everything the company counts, it counts from there. It records 98 equity capital market transactions between November 2019 and June 2026. Those raised over ₹1,62,700 crore between them. The tally comprises 41 public issues, 22 placements with large institutions, eight preferential issues and eight offers for sale. One of the public issues was a REIT, a trust that owns rent-earning property.

The shares were listed on BSE and NSE on 27 December 2024, after an issue of 2,96,90,900 equity shares. Since listing the company has filed two annual reports and a business responsibility and sustainability report for the year to March 2026. That is the sustainability disclosure the regulator requires from larger listed companies. It has also filed material-event disclosures under Regulation 30 in enough volume to keep the company secretary in permanent motion.

Board changes have been steady. On 11 August 2026 the board approved the appointment of Mr Dhvanil Sanjiv Dharia as Additional Director and Whole Time Director. The term runs five years, to 10 August 2031. Per the disclosure, he holds a B.Tech from the Institute of Chemical Technology and an MBA from London Business School. The same disclosure adds that he is a CFA charterholder, has been with DAM Capital since its inception in 2019, and was previously with Axis Capital's mergers and acquisitions team. Mr Natarajan Srinivasan completed his tenure as Independent Director on 18 August 2026. Mr Jateen Madhukar Doshi completed his tenure as Whole Time Director on 9 June 2026.

Mr MV Nair is Chairperson and an Independent Director. His disclosed record includes chairman and managing director of Union Bank of India and of Dena Bank. Mr Dharmesh Anil Mehta is Managing Director and Chief Executive, and was previously chief executive of Axis Capital.

Two older assignments appear in the company's own record of milestones. It advised the Nirma Group on its ₹5,650 crore acquisition of Glenmark Lifesciences, a maker of drug ingredients. It was also sole banker to Ravalgaon Sugar Farms on a sale to Reliance Consumer Products. Drug ingredients and boiled sweets, from the same shop. What Ravalgaon sold was the intellectual property of its sugar boiled confectionery business.

Business model

The segment reporting names two businesses: stock broking services and investment banking services.

Merchant banking covers equity capital markets, mergers and acquisitions, private equity and structured finance advice. In the three months to June 2026 that segment brought in ₹9.46 crore, or 31.6% of total income. Two transactions were executed in the quarter. The mechanics are unusual. The firm spends months on a deal, files documents and walks a company through a regulator. It is paid roughly when the money actually moves. Revenue is lumpy by construction. Merchant banking brought in ₹151.2 crore in the year to March 2026, against ₹9.5 crore in this quarter. The same segment, thirteen weeks apart, wearing very different trousers.

Institutional equities is broking and research. The broking team has 32 people, with average work experience above 23 years. It serviced 304 active clients as of June 2026. Those clients sit in India, the United States, Britain and Europe. Others are in Hong Kong, Singapore and the Middle East. Broking revenue was ₹16.26 crore in the quarter, or 54.3% of total income. Active clients numbered 239 at March 2024 and 277 at March 2025. They reached 298 at March 2026 and 304 at June 2026.

The research arm has 29 people, of whom 12 are lead analysts. It covered 202 stocks across 23 sectors as of June 2026. The coverage universe skews wide rather than large. Twenty-seven of those companies are under ₹5,000 crore of market value. Another 54 sit between ₹5,000 crore and ₹20,000 crore, and eight are above ₹5,00,000 crore. Twelve lead analysts and 202 companies works out at about seventeen each, and results season puts several of them on the same morning.

The segment table carries a third line called Unallocated. It contributed ₹4.14 crore of revenue and ₹4.05 crore of segment result in the quarter. Unallocated is finance's word for the drawer everyone agrees not to open at parties.

Two subsidiaries are live. DAM Capital (USA) Inc. is a broker-dealer registered with the SEC, the American markets regulator, and a member of FINRA. DAM Asset Management Limited was incorporated on 8 July 2024. A third, IDFC Securities Singapore Pte. Ltd., was dissolved and liquidated with effect from 16 November 2021. The auditor still writes a paragraph about it every quarter, five years later, which is the corporate equivalent of a gym membership nobody can cancel. Borrowings were ₹3.32 crore at March 2026, against net worth of ₹331.91 crore.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Dam Capital Advisors Limited.

Companies in the same industry as Dam Capital Advisors Limited

Stockbroking & Allied

All listed companies