Equity Research Report: Oasis Securities Limited (BSE Code: 512489)
Date: February 3, 2026
Analyst: Stock Analysis AI
Sector: Non-Banking Financial Company (NBFC) / Financial Services
⚠️ IMPORTANT DISCLAIMER (Micro-Cap & Liquidity Risk)
Oasis Securities Ltd ek Micro-cap company hai (Market Cap ~₹21 Cr). Is stock mein liquidity bahut kam hoti hai (volume often < 6,000 shares per day). Aise stocks mein volatility high hoti hai aur price manipulation ka risk rehta hai. Yeh report sirf educational purpose ke liye hai.
1️⃣ Business Model & Work
- Core Business: Oasis Securities ek Non-Deposit taking NBFC (Non-Banking Financial Company) hai. Yeh mainly Investment Activities mein involved hai.
- Operations:
- Trading & Investment: Shares, Mutual Funds aur Securities mein proprietary trading aur investment karna.
- Financing: Inter-corporate loans aur short-term financing provide karna.
- Revenue Source: Interest Income, Dividend Income, aur Profit on Sale of Investments (Fair Value Gains).
- Domestic vs Export: 100% Domestic exposure (Indian Financial Markets).
- Competitive Advantage: Company ka advantage low operating cost aur promoter ka strong skin-in-the-game (high holding) hai, lekin business model highly competitive hai aur market cycles par depend karta hai.
2️⃣ Industry & Sector Analysis
- Sector Status: NBFC / Capital Markets sector India mein grow kar raha hai due to financialization of savings.
- Nature: Highly Cyclical. Jab stock market bullish hota hai, tab investment companies ki income badhti hai. Bear market mein valuation gains gayab ho jate hain.
- Growth Drivers: Rising equity participation in India, Bull market sentiment (2024-2026 cycle), aur increased demand for credit.
- Competition: Sector bhara hua hai – Bajaj Finance jaise giants se lekar hazaron choti investment companies tak. Oasis ek bahut choti fish hai is ocean mein.
3️⃣ Latest Financial Performance (Consolidated/Standalone)
Data Source: Screener.in / Exchange Filings (Figures in ₹ Crores)
Note: Latest Q3 FY26 (Dec 2025) results are available and included.
| Metric | FY 2023 | FY 2024 | FY 2025 | TTM (Trailing 12M) | Latest Qtr (Dec ’25) |
| Revenue (Sales) | 1.23 | 3.81 | 1.61 | ~2.12 | 0.73 |
| Operating Profit | 0.28 | 1.84 | 1.09 | ~1.45 | 0.55 (PBT) |
| Net Profit (PAT) | -0.42 | 1.42 | 0.87 | ~1.50 | 0.42 |
| EPS (₹) | -0.23 | 0.77 | 0.47 | ~0.81 | 0.23 |
- Trend Analysis:
- Q3 FY26 Update: Latest quarter (Dec 2025) mein Net Profit ₹0.42 Cr raha, jo pichle saal ke mukable (145% YoY Growth) hai. Iska main karan “Fair Value Gains” aur higher “Interest Income” hai.
- Revenue Volatility: Revenue stable nahi hai kyunki yeh market gains par depend karta hai (FY24 was high, FY25 dipped).
- Debt: Company Almost Debt Free hai (Debt/Equity ~0.00). Yeh ek bada positive point hai.
- Cash Flow: Operating Cash Flow volatile rehta hai due to nature of investment business.
4️⃣ Management & Shareholding (Latest Pattern – Dec 2025)
- Promoter Holding:70.79% (Stable & High).
- Observation: Promoters (Sodhani Family) ne apna stake maintain kiya hua hai, jo micro-cap mein ek rare aur positive confidence signal hai.
- FII / DII Holding: 0.00%. Institutional investors completely absent hain.
- Public Holding: 29.21%. Isme se kuch portion High Net-worth Individuals (HNIs) ke paas hai, baaki retail ke paas.
- Governance: Board meetings regular hain, lekin “Technical Irregularities” ke karan AGM reschedule hone ki news aayi thi (July 2025), jo compliance issues indicate karti hai.
5️⃣ Valuation (Latest Market Data)
- Current Market Price (CMP): ~₹11.50 – ₹11.80
- Market Cap: ~₹21.5 Cr
- P/E Ratio: ~14x – 16x (Based on recent TTM earnings).
- P/B Ratio: ~1.5x (Book Value approx ₹7.6 – ₹8.0).
- Peer Comparison:
- Other Micro-cap NBFCs trade at PE 15x-25x.
- Oasis sasti lag sakti hai (PE < 20), lekin micro-cap liquidity discount hamesha apply hota hai.
- Fair Value: Asset-based valuation (P/B) zyada relevant hai. Agar Book Value ₹8 hai, to ₹11-12 ka price Fairly Valued hai (Not cheap, not expensive).
6️⃣ Future Growth Triggers (3–5 Years)
- Portfolio Growth: Agar company apna investment portfolio successfully compound karti hai (Bull market support se), to Book Value badhegi, jo stock price ko upar le jayegi.
- New Business Lines: Agar management trading ke alava “Loan Book” (Lending) ko aggressive banati hai, tabhi sustainable growth aayegi. Currently, yeh trigger missing hai.
- No Major Capex: Asset-light model hai, isliye expansion ke liye badi investment nahi chahiye, bas capital chahiye.
7️⃣ Present Situation (Current Outlook)
- Stock Momentum: Stock recently Positive results (Q3 FY26) ke baad thoda traction gain kar raha hai. 145% profit jump ek short-term catalyst hai.
- Market Phase: Overall market agar bullish hai to yeh stock perform karega. Agar market crash hota hai, to iski earnings negative bhi ho sakti hain (due to investment loss).
- Outlook: Short-term mein results driven move aa sakta hai, lekin long-term visibility low hai.
8️⃣ Risk & Red Flags (Critical)
- Revenue Quality: Profit ka bada hissa “Fair Value Gains” (stock prices badhne se hua profit) ho sakta hai, jo realized cash nahi hota. Market girne par yeh profit loss mein badal sakta hai.
- Liquidity Trap: Daily volume bahut kam hai. Agar aap badi quantity khareed lete hain, to bechne ke liye buyer nahi milega (Lower Circuit risk).
- Compliance Issues: Recent AGM rescheduling due to irregularities ek governance red flag hai.
- No Dividends: Despite profits, company regularly dividend pay nahi karti (History check: 0% Yield typically).
9️⃣ Final Verdict
Summary:
- Oasis Securities ek High-Risk Micro-cap hai jo basically ek proprietary investment firm ki tarah kaam kar rahi hai.
- Financials currently ache hain (Profit Growth in FY26), aur Promoter holding strong (70%+) hai.
- Debt zero hai, jo downside protect karta hai.
Recommendation by Investor Profile:
- Conservative Investor: STRICTLY AVOID. Yeh company size aur nature wise aapke liye safe nahi hai.
- Long-term Investor: NEUTRAL / WATCH. Valuation fair hai, lekin business mein koi unique “Moat” nahi hai.
- Aggressive Trader: BUY FOR SHORT TERM. Recent Q3 results (profit jump) ke basis par momentum play kiya ja sakta hai. Strict Stop Loss zaroori hai.
Approximate Target Range: ₹14 – ₹16 (Short term bullish scenario).
Risk Level: Very High (Capital Loss possible).
Disclaimer: Ye article sirf educational purpose ke liye hai. Kisi bhi nivesh se pehle apne Financial Advisor se salah zarur lein.