Beacon TrusteeshipShare price, financial results, shareholding and management

NSE Emerge · BEACONCorporate trusteeshipListed 4 June 2024IPO ₹60
beacontrustee.co.in ↗Live price on NSE ↗ISIN INE639X01027 · Lot 1,000 shares · ₹85,000
₹85.00
0.00% on the day
Close · 6 Nov 2026
Valuation
Market cap
₹154 cr
Stock P/E
22.0peers 24.1
Book value
₹28.6
Price to book
2.97
EV / operating profit
13.2
Market cap to sales
4.50
Returns and growth
ROCE · FY26
20.0%
ROE · FY26
14.5%
ROE, 3-year average
20.9%
Operating margin · FY26
33.6%peers 49.6%
Sales growth, 3 years
29.9%
Profit growth, 3 years
21.9%
Safety
Debt to equity
0.00peers 0.04
Borrowings
₹0 cr
Interest cover
483.0×
Cash from business / op. profit
62%
Debtor days
94
Pledged
0.00%
Ownership and share
Promoter holding
46.15%
Change in promoter holding
0.00 pts
Shareholders
1,419
52-week high / low
₹125 / ₹66
Dividend yield
0.00%
Face value
₹10

Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.

Beacon Trusteeship share price chart

₹85.00+16.12% 1 year

Close on 6 Nov 2026 · 0.00% on the day · Vol 5,000

Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.

Share price returns

To the close of 6 Nov 2026

1 month
+2.5%
3 months
-7.6%
6 months
-23.7%
1 year
+16.1%
Since IPO
+41.7%
Traded a day, 20 days
₹0.10 cr
Taken for delivery
86%

Business growth

Sales and net profit, from the reported results

SalesProfit
FY26 on FY25+32%+29%
3 years, a year+30%+22%
Latest half, H2 FY26+19%+114%

About Beacon Trusteeship: business, products and customers

Beacon Trusteeship acts as the neutral trustee that watches over bonds, big loans, investment funds and other deals on behalf of the investors and lenders. Its clients are the companies, banks and fund managers that raise the money, and its shares trade on NSE Emerge.

Beacon Trusteeship was set up in December 2015 by former bankers and holds a SEBI licence as a debenture trustee. It works across five product lines: trustee for bonds and debentures, security trustee holding collateral for groups of lenders, trustee for alternative investment funds, trustee for securitisation and other special purpose vehicles, and escrow and safekeeping. Subsidiaries run a share registry and depository participant business, family-trust services and small fiduciary arms in GIFT City, Mauritius and Singapore.

The company earns fees, not interest: a one-time acceptance fee when a deal is signed, booked at once, and an annual fee booked evenly over the life of the bond, loan or fund. Because new acceptance fees land in the year a deal is signed, a busy year for new bond issues and new funds lifts revenue faster than the annual fees alone would, and a quiet year does the reverse. It carries no stock and no borrowings, so the main costs are people, technology and compliance.

Read more about the business

Much of its software is built in-house: a client ERP, the ProSec securitisation platform, a covenant monitoring tool and a fund administration platform. Two of the companies that build or run these, Codium Techlabs and Kratos Capital Advisors, along with Beacon Payroll, are being merged into Beacon under a scheme before the National Company Law Tribunal; the Chairman is a director of all three.

The offer document says Beacon has no listed peers in India or abroad and that entry barriers in the trustee business are minimal. It names no rival trustee, and says new entrants have used aggressive pricing to win business.

From the offer document (prospectus, May 2024), the annual report for FY26 and the company's announcements of March to August 2026.

Read the deeper study ↓

In its favour

  • Sales have grown fast: 30% a year over three years.
  • It earns a high return on the money it uses: ROCE 20% in FY26.
  • It brings in more cash than it shows as profit: ₹7.2 cr against ₹7 cr in FY26.
  • It has little debt for its size: debt to equity 0.00.

To watch

  • The tribunal's order on merging Codium Techlabs, Kratos Capital Advisors and Beacon Payroll into Beacon, with a hearing set for 12 August 2026 (Announcement, 1 July 2026, p.1).
  • A final IFSCA licence for debenture trusteeship from GIFT City after the April 2026 in-principle approval (Announcement, 21 April 2026, p.1).
  • Whether staff attrition, which rose to 20% in FY26, comes down as the board has made it a priority (Annual report FY26, p.77).
  • Setting up the Dubai subsidiary approved on 17 August 2026 (Announcement, 17 August 2026, p.1 to 3).
  • It paid no dividend in the past year.

From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.

Beacon Trusteeship revenue and profit growth

Half-yearly results · Profit and loss

Sales have grown fast. Last year profit grew roughly in step with sales.

Sales and net profit, every year, ₹ crore
SalesNet profit
010203040Sales, FY20: 5.1 ₹ cr5.1Net profit, FY20: 0.7 ₹ cr0.7FY20Sales, FY21: 5.6 ₹ cr5.6Net profit, FY21: 1 ₹ cr1FY21Sales, FY22: 10.5 ₹ cr10.5Net profit, FY22: 3.6 ₹ cr3.6FY22Sales, FY23: 15.6 ₹ cr15.6Net profit, FY23: 3.9 ₹ cr3.9FY23Sales, FY24: 20.9 ₹ cr20.9Net profit, FY24: 5.2 ₹ cr5.2FY24Sales, FY25: 25.9 ₹ cr25.9Net profit, FY25: 5.4 ₹ cr5.4FY25Sales, FY26: 34.2 ₹ cr34.2Net profit, FY26: 7 ₹ cr7FY26
The latest halves, ₹ crore
SalesNet profit
05101520Sales, H1FY24: 11.8 ₹ cr11.8Net profit, H1FY24: 4 ₹ cr4H1FY24Sales, H2FY24: 8.1 ₹ cr8.1Net profit, H2FY24: 1.2 ₹ cr1.2H2FY24Sales, H1FY25: 13.3 ₹ cr13.3Net profit, H1FY25: 4.2 ₹ cr4.2H1FY25Sales, H2FY25: 12.6 ₹ cr12.6Net profit, H2FY25: 1.2 ₹ cr1.2H2FY25Sales, H1FY26: 19.2 ₹ cr19.2Net profit, H1FY26: 4.5 ₹ cr4.5H1FY26Sales, H2FY26: 14.9 ₹ cr14.9Net profit, H2FY26: 2.5 ₹ cr2.5H2FY26

SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.

Beacon Trusteeship half-yearly results

SME companies report every six months · ₹ crore

₹ crore · growth on the same half a year before
H1FY24H2FY24H1FY25H2FY25H1FY26H2FY26
Sales11.788.1313.2612.5919.2414.92
Expenses6.376.647.7810.8212.4110.26
Operating profit5.411.495.481.776.834.66
OPM45.9%18.3%41.3%14.1%35.5%31.2%
Interest000000.02
Depreciation0.410.410.340.651.371.47
Profit before tax5.491.595.781.755.973.67
Net profit41.184.241.184.462.52

Beacon Trusteeship profit and loss

Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Sales5.145.5910.4515.5720.8825.8534.16
Expenses4.023.865.179.8213.0418.6022.67
Operating profit1.121.735.285.757.847.2511.49
OPM21.8%30.9%50.5%36.9%37.5%28.1%33.6%
Other income00.020.060.170.051.241.01
Interest00.050.100000.02
Depreciation0.190.190.340.570.820.992.84
Profit before tax0.931.514.905.357.077.569.64
Tax rate29.0%37.1%26.1%28.0%27.0%28.2%27.6%
Net profit0.660.953.623.855.165.436.98
EPS ₹··11.9912.753.643.013.86
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Beacon Trusteeship profitability

Margins and returns on capital

Last year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.

Operating margin, every year

Per cent of sales kept before interest, depreciation and tax

0%20%40%60%FY20: 21.8%21.8%FY20FY21: 30.9%30.9%FY21FY22: 50.5%50.5%FY22FY23: 36.9%36.9%FY23FY24: 37.5%37.5%FY24FY25: 28.1%28.1%FY25FY26: 33.6%33.6%FY26
Per cent
FY20FY21FY22FY23FY24FY25FY26
Operating margin21.8%30.9%50.5%36.9%37.5%28.1%33.6%
Tax rate29.0%37.1%26.1%28.0%27.0%28.2%27.6%
ROCE·33.4%61.3%44.3%42.6%23.6%20.0%
ROE·25.9%50.6%31.8%31.1%17.0%14.5%
Dividend payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Beacon Trusteeship debt and cash flow

Balance sheet · Cash flow · Working capital

The company's own money, its net worth, has grown. It has almost no borrowings. Last year the business brought in more cash than it showed as profit. It spent more on assets and investments than the business brought in, and drew on its cash. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.

Its own money and its borrowings, ₹ crore
Net worthBorrowings
0204060Net worth, FY20: 3.2 ₹ cr3.2Borrowings, FY20: 0 ₹ cr0FY20Net worth, FY21: 4.2 ₹ cr4.2Borrowings, FY21: 2 ₹ cr2FY21Net worth, FY22: 10.2 ₹ cr10.2Borrowings, FY22: 0 ₹ cr0FY22Net worth, FY23: 14 ₹ cr14Borrowings, FY23: 0 ₹ cr0FY23Net worth, FY24: 19.2 ₹ cr19.2Borrowings, FY24: 0 ₹ cr0FY24Net worth, FY25: 44.9 ₹ cr44.9Borrowings, FY25: 0.1 ₹ cr0.1FY25Net worth, FY26: 51.7 ₹ cr51.7Borrowings, FY26: 0 ₹ cr0FY26
Cash from the business against net profit, ₹ crore
Cash from the businessNet profit
-50510Cash from the business, FY20: 1.2 ₹ cr1.2Net profit, FY20: 0.7 ₹ cr0.7FY20Cash from the business, FY21: -2.2 ₹ cr-2.2Net profit, FY21: 1 ₹ cr1FY21Cash from the business, FY22: 0.7 ₹ cr0.7Net profit, FY22: 3.6 ₹ cr3.6FY22Cash from the business, FY23: -0.7 ₹ cr-0.7Net profit, FY23: 3.9 ₹ cr3.9FY23Cash from the business, FY24: 5.8 ₹ cr5.8Net profit, FY24: 5.2 ₹ cr5.2FY24Cash from the business, FY25: -3.9 ₹ cr-3.9Net profit, FY25: 5.4 ₹ cr5.4FY25Cash from the business, FY26: 7.2 ₹ cr7.2Net profit, FY26: 7 ₹ cr7FY26

Bars below the line are cash going out.

Beacon Trusteeship balance sheet

At each 31 March · ₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Equity capital2.622.623.023.0214.1918.0618.06
Reserves0.581.537.1510.994.9826.7933.64
Net worth3.204.1510.1714.0119.1744.8551.71
Borrowings020000.120
Other liabilities0.922.546.698.537.806.5911.59
Total liabilities4.128.6916.8622.5426.9751.5663.30
Fixed assets0.190.620.631.550.9715.0314.07
Capital work in progress000.5801.4603.62
Investments0.080.140.200.220.2414.4017.36
Other assets3.857.9315.4520.7724.3022.1328.25
Receivables·····5.488.77
Inventory·····00
Cash·····2.972.15
Trade payables·····0.381.89

Beacon Trusteeship cash flow

₹ crore

₹ crore
FY20FY21FY22FY23FY24FY25FY26
Cash from operations1.16-2.230.66-0.675.77-3.897.17
Cash from investing0.10-0.47-0.56-0.14-0.73-26.79-7.45
Cash from financing020.400033.65-0.55
Net cash flow1.26-0.700.50-0.815.042.97-0.83
Capital spending·····13.595.50

Working capital

Days

Days
FY20FY21FY22FY23FY24FY25FY26
Debtor days898411898587794
Cash conversion cycle898411898587491
Working capital days4391929245116105

Beacon Trusteeship peers and competitors

Listed SME companies in the same industry

By sales, Beacon Trusteeship is number 3 of the 6 listed SME companies in capital markets.

Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.

CompanyMarket cap ₹ crP/ESales ₹ crProfit ₹ crOp. marginDebt/equity
Rikhav Securities19310.21,992191.6%0.04
Pune E - Stock Broking45722.8672050.0%0.30
Beacon Trusteeship15422.034.2733.6%0.00
Dharni Capital Services11324.112.54.749.6%0.15
Vedant Asset1639.450.411.7%0.00
Sodhani Capital5824.54.82.469.6%0.00
Median of the 5 others11324.112.54.749.6%0.04

Beacon Trusteeship shareholding pattern

Promoters, FIIs, DIIs, HNIs and small holders

The promoters own less than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.

Promoters
46.15%
0.00 pts since Jun 24
Foreign investors (FIIs)
2.50%
-6.47 pts since Jun 24
Indian institutions (DIIs)
0.11%
at Sep 25; not in the latest pattern
HNIs (over ₹2 lakh each)
15.83%
+12.98 pts since Jun 24
Small holders (up to ₹2 lakh)
17.33%
+4.23 pts since Jun 24
Companies and others
18.19%
-6.56 pts since Jun 24
Number of shareholders
1,419
1,372 in Jun 24

Beacon Trusteeship shareholding pattern

Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.

Jun 24Sep 24Mar 25Sep 25Mar 26
Promoters46.15%46.15%46.15%46.15%46.15%
Foreign investors (FIIs)8.97%3.72%3.02%2.35%2.50%
Indian institutions (DIIs)4.18%1.17%1.17%0.11%-
HNIs (over ₹2 lakh each)2.85%7.05%8.25%9.99%15.83%
Small holders (up to ₹2 lakh)13.10%17.44%16.59%18.11%17.33%
Companies and others24.75%24.47%24.82%23.29%18.19%
Number of shareholders1,3721,2581,2851,4081,419

The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.

Beacon Trusteeship study: the business from its own documents

Read from 4 of the company's own documents

Beacon Trusteeship so far

From the company's own record

  1. 4 June 2024Listed on NSE Emerge at ₹60
  2. 31 March 2026Promoters at 46.15%
  3. 2 Oct 2024Highest close since listing, ₹114.37

Beacon Trusteeship key facts from the filings

Each figure with the document it comes from

Mandates
3,595
Trustee mandates taken on since 2015 across five product lines; 797 of them were added in FY26, the most in any year.Annual report FY26, p.5 and p.75
Assets under administration
₹17,22,824 cr
Value of all the bonds, loans and funds Beacon has acted on, counted cumulatively since it began.Annual report FY26, p.12
League table
No.2
PRIME Database rank for public debt issues in FY26; No.4 for privately placed debt, and top three over the last three years.Annual report FY26, p.12
Top ten customers
44.39%
Share of FY24 revenue, up from 34.38% in FY22; no later figure is given.Offer document, p.33
People
110
Permanent employees at March 2026, up from 81; attrition rose to 20% in FY26, which the company calls a board-level priority.Annual report FY26, p.65 and p.77
Show 5 more facts
Staff cost
21.61% of revenue
Employee costs of the listed company in FY26, down from 29.05% in FY25 as revenue grew faster than pay.Annual report FY26, p.77
Borrowings
Nil
No borrowing from banks or financial institutions during FY26.Annual report FY26, p.49 and p.77
GIFT City licence
In-principle
IFSCA approval of 20 April 2026 to act as debenture trustee from a GIFT City branch, subject to conditions.Announcement, 21 April 2026, p.1
Fund administration
31 mandates
AIF and PMS clients on the in-house fund administration platform, now in full use.Annual report FY26, p.6
Group merger
3 companies
Codium Techlabs, Kratos Capital Advisors and Beacon Payroll to merge into Beacon; the tribunal set a further hearing for 12 August 2026.Announcement, 1 July 2026, p.1; Annual report FY26, p.6

What the company said, and what happened

The company's own statements, attributed, set against what it later reported; not newboard's estimates

The Chairman says the focus for FY27 is retaining and training people, completing the merger of Codium Techlabs, Kratos Capital Advisors and Beacon Payroll after the tribunal's order, and deepening the presence in Mauritius, Singapore and Dubai. The company received in-principle approval in April 2026 to act as debenture trustee from GIFT City, and in August 2026 its board approved setting up a wholly owned subsidiary in Dubai. It gives no sales or profit guidance.

12 Aug 2026Next merger hearingNCLT Mumbai
April 2026GIFT City approvalIn-principle, IFSCA

Is it a good business? Six questions

Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.

Beacon Trusteeship earns a signing fee and then a yearly fee for every bond, loan or fund it looks after, so each new deal adds income for years.

Its weak spots are price cutting by newer trustees, staff leaving in a tight job market, and a growing web of dealings with companies linked to the Chairman.

WatchCan it set its own prices?Not fully: newer trustees are winning work on price, which pushes fees down.
The evidence. The offer document and the FY26 annual report both say new entrants have used aggressive, even predatory, pricing, which can pressure fee realisations.Offer document, p.128; Annual report FY26, p.29 and p.76
AverageHow strong is it against rivals?A licence, a long record and its own software help it win mandates, but the offer document says entry barriers are minimal.
The evidence. PRIME Database ranked it No.2 for public debt issues in FY26 and in the top three for three years; the offer document says there are minimal entry barriers in the industry.Annual report FY26, p.12; Offer document, p.130
AverageWho are its customers?Banks, government companies, finance companies and fund managers, with some large clients but no single one dominating.
The evidence. The top ten customers gave 44.39% of FY24 revenue; deals listed include bond issues for REC, NTPC, Power Finance Corporation and Canara Bank.Offer document, p.33; Annual report FY26, p.22
StrongDoes it need a lot of money?No: the business runs on people and software, with no stock to hold and no borrowings.
The evidence. The company calls its model asset-light and debt-free, with minimal working capital needs; it raised no bank borrowings in FY26.Annual report FY26, p.49 and p.75
StrongCan it keep finding new work?Every new bond, loan pool and fund needs a trustee, and it added more mandates in FY26 than in any earlier year.
The evidence. 797 new mandates in FY26, taking the total to 3,595 across five product lines; an in-principle GIFT City licence adds a new market.Annual report FY26, p.5 and p.75; Announcement, 21 April 2026, p.1
AverageDo good and bad years swing a lot?Annual fees on existing mandates steady the income, but signing fees depend on how many new deals come to market.
The evidence. Annual fees are booked evenly over the service period while acceptance fees are booked when a deal is accepted; the company names a slowdown in bond issues or fund raising as a threat.Offer document, p.178; Annual report FY26, p.76

Who runs Beacon Trusteeship?

Promoters, directors and officers; tap a name for the background

PIPratapsingh Indrajitsingh NathaniPromoter, Chairman and Managing Director · holds 2.58%

Holds a BA in economics (honours) from Gujarat University and has close to three decades in debt markets, loan syndication and investment banking, with Apple Finance, Centrum, ENAM, JM Morgan Stanley, JM Financial and ING Bank, where the debt capital markets and loan syndication desk was set up and led until 2015. A director of Beacon since incorporation and Chairman and Managing Director since November 2019. Holds 99.998% of the corporate promoter, Prasana Analytics.

Offer document, p.162 to 163; Annual report FY26, p.13 and p.44; Shareholding pattern, March 2026
PAPrasana Analytics Private LimitedPromoter (company) · holds 43.56%

A private company incorporated in January 2015 whose stated objects are analysing and rating companies and their obligations; it sold shares in the 2024 public offer.

Offer document, p.33 and p.162 to 163; Shareholding pattern, March 2026
AGAnil GroverChief Executive Officer and Executive Director

A Chartered Accountant and Cost and Management Accountant with an SMP from IIM Kolkata and over three decades in banking with Indian Bank, ICICI Bank and Yes Bank; last served as COO of Axis Trustee Services. CEO since 9 January 2026 and a director since February 2026.

Annual report FY26, p.13 and p.49
JBJaydeep BhattacharyaExecutive Director

Holds a B.Com and a diploma in advanced software technology, with nearly two decades in trusteeship: a founding member of IDBI Trusteeship Services, where 14 years were spent, then five years at Axis Trustee Services. A director since July 2025.

Annual report FY26, p.13, p.45 and p.49
SBSneha Brijesh PatelChief Financial Officer

A Chartered Accountant with a B.Com and more than ten years in accounting, taxation and audit, earlier with Dalpat Dholria & Co; CFO since November 2023.

Offer document, p.159 to 160
SSSanjay SinhaIndependent Director

Over three decades in corporate finance and portfolio management with Axis Bank and State Bank of India, and formerly MD and CEO of Axis Trustee Services. Re-appointed for a second five-year term from May 2026.

Annual report FY26, p.14 and p.49

Beacon Trusteeship latest news and announcements

Announcements · Documents · Corporate actions

What changed recently

Each half-year is set against the same half a year earlier

  • H2 FY26: sales ₹14.9 cr (+19%), net profit ₹2.5 cr (+114%) on H2 FY25.
  • Shareholding, 31 March 2026: promoters unchanged at 46.15%.

Beacon Trusteeship announcements

85 on record, latest first; each opens the filing on the exchange

Beacon Trusteeship annual reports, earnings calls and documents

Every document links to its source; “read” marks those this page is built from

Beacon Trusteeship share split, bonus and dividends

From the corporate actions the company announces on the exchange

No share split, bonus issue or dividend is on record since listing.

Checks we ran on Beacon Trusteeship's data · 9

Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.

  • ✓Balance sheet totals add up for FY25 and FY26.
  • ✓Market cap uses the share count in the latest shareholding pattern (1,80,64,913 shares).
  • ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
  • ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
  • ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
  • ✓The two half-years of FY26 add up to the full-year sales.
  • !Earnings per share changes basis between FY23 (₹12.75) and FY24 (₹3.64) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
  • ✓Revenue and profit are reported for every year shown, FY20 to FY26.
  • iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.

Questions people ask about Beacon Trusteeship

What does Beacon Trusteeship do?

Beacon Trusteeship acts as the neutral trustee that watches over bonds, big loans, investment funds and other deals on behalf of the investors and lenders. Its clients are the companies, banks and fund managers that raise the money, and its shares trade on NSE Emerge.

What is the share price of Beacon Trusteeship?

₹85 at the close on 6 Nov 2026, from the exchange's daily figures.

What is the market cap of Beacon Trusteeship?

₹154 cr at the close on 6 Nov 2026, on 1,80,64,913 shares.

What is the P/E of Beacon Trusteeship?

22.0 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).

What are Beacon Trusteeship's revenue and profit?

Revenue ₹34 cr and profit after tax ₹7 cr in FY26.

Who are the promoters of Beacon Trusteeship?

Pratapsingh Indrajitsingh Nathani, Prasana Analytics Private Limited; promoters held 46.15% at 31 March 2026.

What was the IPO price of Beacon Trusteeship?

₹60 a share; it listed on 4 June 2024.

What is Beacon Trusteeship's website?

www.beacontrustee.co.in

More SME companies like Beacon Trusteeship

Other listed SME companies in capital markets, the closest in size first, each read from its own documents.

Every listed SME company in Capital Markets → · SME companies listed in 2024 →

Built from 2 annual reports, 1 offer document, 1 result filing, 85 exchange announcements, 5 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.