---
title: "Frontline Securities Ltd (533213) — Share Price, Financials & Analysis"
symbol: "533213"
company: "Frontline Securities Ltd"
canonical: "https://tapetide.com/stocks/533213"
isin: "INE773B01020"
bse_code: "533213"
sector: "Financial Services"
industry: "Finance"
generated_at: "2026-09-13T18:51:49.607Z"
---

# Frontline Securities Ltd (533213)

Canonical page: https://tapetide.com/stocks/533213

## Company

- **BSE Code:** 533213
- **ISIN:** INE773B01020
- **Sector:** Financial Services
- **Industry:** Finance
- **Macro Sector:** Financial Services
- **Stock Type:** EQUITY
- **Listed Since:** 2010-07-09
- **Face Value:** ₹5
- **F&O Eligible:** No
- **Website:** fslindia.com

## About

Frontline Securities is registered as a Non Deposit taking Non-Systematically Important Non-Banking Financial Company (NBFC).

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.92 times its book value

### Weaknesses

- The company has delivered a poor sales growth of -2.98% over past five years.
- Company has a low return on equity of 12.0% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -1% | -11% | -8% |
| revenue growth | -6% | 0% | -3% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.21 | 0.74 | 1.12 | 1.44 | 1.64 | 1.88 | 1.15 | 1.18 | 1.4 | 1.39 | 1.43 | 1.41 |
| Expenses | 0.15 | 0.19 | 0.26 | 0.41 | 0.3 | 0.31 | 0.29 | 2.53 | 0.31 | 0.23 | 0.18 | 0.34 |
| Operating Profit | 0.06 | 0.55 | 0.86 | 1.03 | 1.34 | 1.57 | 0.86 | -1.35 | 1.09 | 1.16 | 1.25 | 1.07 |
| OPM % | 28.57 | 74.32 | 76.79 | 71.53 | 81.71 | 83.51 | 74.78 | -114.41 | 77.86 | 83.45 | 87.41 | 75.89 |
| Other Income | 2.84 | 1.71 | 2.12 | 2.78 | 0 | 0.25 | 0.14 | 4.3 | 0.29 | 0.26 | 0.15 | 0.34 |
| Interest | 0 | 0 | 0 | 0.11 | 0 | 0.07 | 0 | 0.06 | 0 | 0.05 | 0 | 0.04 |
| Depreciation | 0.01 | 0.01 | 0.02 | 0.17 | 0.09 | 0.1 | 0.11 | 0.11 | 0.1 | 0.12 | 0.11 | 0.12 |
| Profit before tax | 2.89 | 2.25 | 2.96 | 3.53 | 1.25 | 1.65 | 0.89 | 2.78 | 1.28 | 1.25 | 1.29 | 1.25 |
| Tax % | 12.8 | 16 | 13.85 | 14.45 | 40 | 30.91 | 61.8 | 28.78 | 33.59 | 52.8 | 52.71 | 37.6 |
| Net Profit | 2.52 | 1.88 | 2.54 | 3.02 | 0.74 | 1.14 | 0.34 | 1.98 | 0.85 | 0.59 | 0.62 | 0.77 |
| EPS in Rs | 1.75 | 1.31 | 1.76 | 2.54 | 0.62 | 0.96 | 0.29 | 1.67 | 0.72 | 0.59 | 0.62 | 0.77 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4.88 | 4.66 | 6.09 | 5.5 | 6.55 | 4.76 | 5.57 | 12.92 | 5.97 | 5.63 |
| Expenses | 0.53 | 0.51 | 0.78 | 0.79 | 0.86 | 0.77 | 0.66 | 1.02 | 3.39 | 1.06 |
| Operating Profit | 4.35 | 4.15 | 5.31 | 4.71 | 5.69 | 3.99 | 4.91 | 11.9 | 2.58 | 4.57 |
| OPM % | 89.14 | 89.06 | 87.19 | 85.64 | 86.87 | 83.82 | 88.15 | 92.11 | 43.22 | 81.17 |
| Other Income | -0.02 | -0.01 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 3.98 | 1.04 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.11 | 0.14 | 0.09 |
| Depreciation | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 | 0.21 | 0.36 | 0.45 |
| Profit before tax | 4.29 | 4.1 | 5.3 | 4.7 | 5.68 | 3.99 | 4.92 | 11.62 | 6.06 | 5.07 |
| Tax % | 16.78 | 22.2 | 28.68 | 28.94 | 16.2 | 11.28 | 8.54 | 14.29 | 24.92 | 38.07 |
| Net Profit | 3.57 | 3.19 | 3.79 | 3.34 | 4.77 | 3.54 | 4.5 | 9.96 | 4.55 | 3.13 |
| EPS in Rs | — | — | — | 2.32 | 3.31 | 2.46 | 3.12 | 8.37 | 3.84 | 3.14 |
| Dividend Payout % | 19.96 | 22.34 | 18.8 | 21.53 | 15.07 | 10.16 | 7.99 | 2.98 | 6.52 | 3.99 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 9.5 | 9.5 | 9.5 | 7.19 | 7.19 | 7.19 | 7.19 | 5.93 | 5.93 | 4.99 |
| Reserves | 22.88 | 25.19 | 28.14 | 25.42 | 29.3 | 32.4 | 36.47 | 39.53 | 43.72 | 32.65 |
| Borrowings | 0.01 | 2.25 | 2.25 | 2.15 | 1.88 | 1.66 | 1.4 | 1.12 | 0.79 | 0.42 |
| Other Liabilities | 1.38 | 1.14 | 1.4 | 1.14 | 1.12 | 0.82 | 0.85 | 0.98 | 0.86 | 0.39 |
| Total Liabilities | 33.77 | 38.08 | 41.29 | 35.9 | 39.49 | 42.07 | 45.91 | 47.56 | 51.3 | 38.45 |
| Fixed Assets | 0.57 | 4.31 | 4.57 | 4.96 | 5.19 | 5.39 | 5.56 | 12.94 | 13.15 | 12.51 |
| CWIP | 0 | 0 | 0.01 | 0.01 | 0.01 | 1.38 | 4.13 | 0 | 0 | 0 |
| Investments | 15.73 | 12.32 | 20.79 | 24.24 | 28.2 | 28.28 | 32.78 | 29.13 | 34.29 | 21.55 |
| Other Assets | 17.47 | 21.45 | 15.92 | 6.69 | 6.09 | 7.02 | 3.44 | 5.49 | 3.86 | 4.39 |
| Total Assets | 33.77 | 38.08 | 41.29 | 35.9 | 39.49 | 42.07 | 45.91 | 47.56 | 51.3 | 38.45 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 5.07 | -5.26 | 5.96 | -2.24 | 0.3 | -0.83 | 2.82 | -0.96 | 4.15 | 4.19 |
| Cash from Investing Activity | 1.03 | 3.97 | -5.87 | -0.39 | 0.63 | 1.63 | -2.33 | 9.22 | -3.89 | 4.16 |
| Cash from Financing Activity | -0.54 | 1.43 | -0.83 | -0.84 | -0.84 | -0.86 | -0.43 | -8.24 | -0.36 | -8.31 |
| Net Cash Flow | 5.56 | 0.14 | -0.74 | -3.47 | 0.09 | -0.06 | 0.05 | 0.02 | -0.09 | 0.04 |
| Free Cash Flow | 5 | -9.06 | 5.66 | -2.66 | 1.06 | -2.45 | -0.23 | -4.42 | 5.57 | 3.98 |
| CFO/OP | 137 | -104 | 142 | -19 | 24 | -3 | 76 | 12 | 208 | 106 |

### Ratios

| Item | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 12.53 | 0 | 0 | 0 | 0 | 0 | 20.06 | 24.46 | 23.99 |
| Cash Conversion Cycle | 0 | 12.53 | 0 | 0 | 0 | 0 | 0 | 20.06 | 24.46 | 23.99 |
| Working Capital Days | 558.72 | 964.2 | 414.75 | 199.09 | 150.46 | 283.72 | 20.31 | 41.81 | 17.73 | 7.78 |
| ROCE % | 13.89 | 11.86 | 13.8 | 12.59 | 15.53 | 10.02 | 11.4 | 25.6 | 8.68 | 11.66 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Jun 2020 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 72.39% | 73% | 73.01% | 72.97% | 72.97% |
| Public | 27.61% | 27% | 26.99% | 27.03% | 27.03% |
| No. of Shareholders | 3189 | 2146 | 1929 | 1739 | 1730 |

### Quarterly

| Category | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.82% | 74.82% | 73% | 73% | 73% | 73% | 73.01% | 73.01% | 72.97% | 72.97% | 72.97% | 72.97% |
| Public | 25.18% | 25.18% | 27% | 27% | 27% | 27% | 26.99% | 26.99% | 27.03% | 27.03% | 27.03% | 27.03% |
| No. of Shareholders | 2914 | 2370 | 2146 | 2140 | 2055 | 1948 | 1929 | 1887 | 1774 | 1761 | 1739 | 1730 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 March 2026 - Piling work order at Kanakia Beverly Heights, Bhayander East; order value Rs.54,04,990 inclusive of GST. | [Bagging/Receiving of orders/contracts 9 March 2026 - Piling work order at Kanakia Beverly Heights, Bhayander East; order value Rs.54,04,990 inclusive of GST.](https://nsearchives.nseindia.com/corporate/MANAV_09032026135613_Workorder.pdf) |
| 4 March 2026 - Received Rs.2,23,76,576 work order for shore piling and rock anchoring at Artek Park, Bandra. | [Bagging/Receiving of orders/contracts 4 March 2026 - Received Rs.2,23,76,576 work order for shore piling and rock anchoring at Artek Park, Bandra.](https://nsearchives.nseindia.com/corporate/MANAV_04032026122049_WO04032026.pdf) |
| 30 Jul 2020 - Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, we are forwarding the copies of Newspaper advertisement in connection with Transfer … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 30 Jul 2020 - Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, we are forwarding the copies of Newspaper advertisement in connection with Transfer …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=efa46369-89e2-4f40-be0f-8bde0c5bf99a.pdf) |
| 30 Jul 2020 - Listing Obligations and Disclosure Requirement) Regulations, 2015, we are forwarding the copies of Newspaper advertisement in connection with Transfer of Shares to Investor Education and … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 30 Jul 2020 - Listing Obligations and Disclosure Requirement) Regulations, 2015, we are forwarding the copies of Newspaper advertisement in connection with Transfer of Shares to Investor Education and …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/efa46369-89e2-4f40-be0f-8bde0c5bf99a.pdf) |
| 29 January 2026 - Board reappointed M/s. Ayush S. Agarwal & Associates as internal auditor for FY2025-26 on Jan 29, 2026. | [Outcome of Board Meeting 29 January 2026 - Board reappointed M/s. Ayush S. Agarwal & Associates as internal auditor for FY2025-26 on Jan 29, 2026.](https://nsearchives.nseindia.com/corporate/MANAV_29012026172831_MIPOutcome.pdf) |
| 29 January 2026 - Appointed M/s. Ayush S. Agarwal & Associates as internal auditor for FY2025-26; board met 29 Jan 2026. | [Outcome of Board Meeting 29 January 2026 - Appointed M/s. Ayush S. Agarwal & Associates as internal auditor for FY2025-26; board met 29 Jan 2026.](https://nsearchives.nseindia.com/corporate/MANAV_29012026172945_MIPOutcome.pdf) |
| 27 Aug 2020 - The Acquirers had issued the exit letter of offer dated August 25, 2020 to the Residual Public Shareholders of Frontline Securities Limited, who did not … | [Updates On Delisting_ Exit Letter Of Offer 27 Aug 2020 - The Acquirers had issued the exit letter of offer dated August 25, 2020 to the Residual Public Shareholders of Frontline Securities Limited, who did not …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=35830130-545e-4239-973e-dea9e3312a8c.pdf) |
| 27 Aug 2020 - Acquirers had issued the exit letter of offer dated August 25, 2020 to the Residual Public Shareholders of Frontline Securities Limited, who did not or … | [Updates On Delisting_ Exit Letter Of Offer 27 Aug 2020 - Acquirers had issued the exit letter of offer dated August 25, 2020 to the Residual Public Shareholders of Frontline Securities Limited, who did not or …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/35830130-545e-4239-973e-dea9e3312a8c.pdf) |
| 26 February 2026 - 26 Feb 2026: Received Rs.4,99,14,591 shore-piling and rock-anchoring work order at Sunteck City, Goregaon West. | [Bagging/Receiving of orders/contracts 26 February 2026 - 26 Feb 2026: Received Rs.4,99,14,591 shore-piling and rock-anchoring work order at Sunteck City, Goregaon West.](https://nsearchives.nseindia.com/corporate/MANAV_26022026150458_MIPwo2602.pdf) |
| 22 Aug 2020 - The Acquirers had issued a Exit Offer Public Announcement dated August 20, 2020 in accordance with regulation 21 of the Delisting Regulations on August 21, … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug 2020 - The Acquirers had issued a Exit Offer Public Announcement dated August 20, 2020 in accordance with regulation 21 of the Delisting Regulations on August 21, …](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9e901226-4b43-4e22-9f6e-412b07d23b85.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26613_MANAV_2024_2025_A_26062025120727.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25789_MANAV_2023_2024_05092024131918.pdf) |
| from nse | [Financial Year 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23314_MANAV_2022_2023_02092023212242_09022023220003.zip) |
| from nse | [Financial Year 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21266_MANAV_2021_2022_03092022201353_09032022210007.zip) |
| from nse | [Financial Year 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19271_MANAV_2020_2021_03092021171503_09032021180007.zip) |
| from nse | [Financial Year 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17105_MANAV_2019_2020_01092020184819_01092020190006.zip) |
| from nse | [Financial Year 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_16132_MANAV_2018_2019_09102019183838_09102019190001.zip) |
| from nse | [Financial Year 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_13903_MANAV_2017_2018_01102018161919.zip) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/533213/5332130319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/533213/5332130318.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:51:49.607Z.