Gretex Corporate Services Limited (GCSL) Q1 2027 Earnings Call Transcript

Good evening, everyone.

On behalf of Stocknox, I welcome you all to the quarter one FY27 earnings conference call of Greatx Corporate Services Limited. I'd like to thank the management team of Greatx Corporate Services Limited and all the investors and participants who have joined us today. Before we begin, please note that this call is being hosted on the Stocknox platform and is being recorded. The discussion may contain forward-looking statements based on the management's current views and expectations. These statements are subject to risks and uncertainties. Investors are requested to refer the company's filings, exchange disclosures, financial results, and other official communications before making any investment decision. All participants have been automatically placed on mute. During the Q&A session, participants who wish to ask a question may use the raise hand option. We'll unmute participants one by one. Participants may also post their questions in the chat box, and I will take up those questions with the management. We have us with today Mr. Alok Harlalka, Managing Director and CFO, and Mr. Arvind Harlalka, Full-time director. I will now request Mr. Alok Halalka to introduce himself and share his opening remarks on operational and financial highlights for the quarter under review. Over to you, sir.

Good evening, everyone. Am I available?

Yes, please carry on, sir.

Good evening, everyone, and welcome to the Greatx Corporate Services Limited earnings call for Q1 FY27. Thank you all for taking the time to participate. The financial results and investor presentation have been uploaded on the stock exchanges and are also available on your company website. We trust you have had the opportunity to review the same. Coming to the broader industry environment, the first quarter of FY27 was characterized by heightened geopolitical uncertainties and continued volatility in the global financial markets. During the quarter, the Indian primary market saw 53 issues collectively mobilized approximately 6,895 crore. Of this eight mainboard IPO raised approximately INR 5,000 crore. While the small and medium interface platform contributed the balance across five years. The mainboard activity represents a significant and disciplined declaration compared to the record-breaking volume of the preceding financial year, FY26, where 108 mainboard companies raised over 1.76 lakh crore. The SME pipeline, meanwhile, remained active with steady failings through individual issue sizes, remained small, which continues to protect this segment from institutional capital volatility. At the same time, domestic participation in the equity market has remained robust, supported by a growing investor base, and increasing financialization of savings. Liquidity conditions in the secondary markets have been stable, which is particularly important for the SME ecosystem, and reinforces the relevance of market-making and broking services. We are also seeing a gradual shift towards professionally managed investment solutions with rising interest across mutual funds, PMS, and alternative investment platforms. While the industry continues to navigate headwinds arising from evolving geopolitical uncertainties, we remain confident in the long-term growth prospects of the Indian capital markets, and these structural trends remain will align with Gratek's integrated business model. Turning up to the operational highlights for the quarter, we signed three new advisory mandates reflecting the continued strength of our organization engine. We secured a listing mandate with a West Bengal-based federalized company, and we filed the DRSP for Sky Lois and Power Limited on both NSE and BSE. On the alternative investment front, Bahutex received registration for a

I think we lost Mr. Aralka. We just wait for minutes for him to rejoin. You just received an update. There is a network. Please bear us for a few minutes. Sorry for the inconvenience. He is rejoined. Am I audible to everyone? Yes, you are. Please go ahead. Sorry for the inconvenience. Please go ahead.

Yeah, so... Our subsidiary Greatest Share Brook Limited continues to progress towards its proposed listing and its strong contribution this quarter reaffirms the strategic value of scaling our broking and market-making operations. We remain actively engaged in the preparatory work for the same, which we believe will further strengthen the platform and support the next phase of growth. Looking ahead, we will continue to prioritize execution excellence while building scale across our merchant banking and broking platforms in a measured and sustainable manner. With the continued evolution of India's capital markets, we believe the operating environment remains favorable and Gratex is well positioned to capitalize on emerging opportunities. We appreciate the continued support of our stakeholders and remain focused on maintaining open and transparent engagements. Thank you for your time. We will now be happy to take your question. Thanks.

Thank you, sir. Thank you so much. We'll now open the floor for the question and answer session. Participants who wish to ask a question may please use the raise hand option. The host will unmute participants one by one. Before asking a question, participants are requested to briefly introduce themselves by stating their name and organization. Participants may also submit their questions through the chat box. Questions received through the chat box will be read to the management by the moderator. Request all participants to keep their questions brief and restricted to the company's business. We'll now begin with the Q&A reason. May I have the raise of hands? Anybody who wishes to ask any question?

I think there is no one who wanted to ask any question, I guess.

Yeah, there is one. Yeah. Mr. P, can you ask your questions, please?

I think he is not audible. We are able to hear him. I think there is no one, Vishnuji.

Yes, so we have a question in the chat box. What is the number of IPO that we can expect in the coming quarter? Can you answer this?

Yeah, I mean, in terms of listing, if I'm not wrong, right? So we are expecting the current quarter which is going on. We expect minimum three to four IPO listing should happen.

Okay. I think we do not have any more questions. So we'll just, we have one more raise in hand. Mohamed, you can ask your question. I think that's it. We do not have much question. We have now completed the question and answer sessions. I request the management to share the closing rewards over to Mr. Alokarlal. Yes, Mr. Mr. Yeah. Thank you everyone for joining today's earnings conference call and for your continued interest in our company. We hope we have addressed your question and provided useful insights into our business. If you have any further queries, please feel free to reach out to our Investor Relations team at Stocknox. Thank you once again for your participation. Have a great day ahead. Thanks. Thank you to the management of Greatx Corporate Service Limited for joining us today and sharing their views in the investor community. I'd also like to thank all investors and participants for joining the Quarter 1 FY27 earnings conference call of Greatx Corporate Service Limited. Thank you so much. Thank you.