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Orbis Financial Corporation Ltd Unlisted Shares
DRHP Status : Not Filed
410
Fundamentals About Orbis Financial Corporation Ltd
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Key Financials of Orbis Financial Corporation Ltd
P&L Statement
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 66 | 154 | 297 | 424 |
| Cost of Material Consumed | 0 | 0 | 0 | 0 |
| Gross Margins | 100 | 100 | 100 | 100 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Employee Benefit Expenses | 20 | 22 | 40 | 79 |
| Other Expenses | 36 | 72 | 93 | 96 |
| EBITDA | 10 | 60 | 164 | 249 |
| OPM | 15.15 | 38.96 | 55.22 | 58.73 |
| Other Income | 20 | 37 | 3 | 7 |
| Finance Cost | 10 | 30 | 42 | 65 |
| D&A | 1 | 1 | 2 | 4 |
| EBIT | 9 | 59 | 162 | 245 |
| EBIT Margins | 13.64 | 38.31 | 54.55 | 57.78 |
| PBT | 19 | 66 | 122 | 187 |
| PBT Margins | 28.79 | 42.86 | 41.08 | 44.1 |
| Tax | 4 | 17 | 32 | 46 |
| PAT | 15 | 49 | 90 | 141 |
| NPM | 22.73 | 31.82 | 30.3 | 33.25 |
| EPS | 1.71 | 5.2 | 7.92 | 11.59 |
Financial Ratios |
2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | 15.15 | 38.96 | 55.22 | 58.73 |
| Net Profit Margin | 22.73 | 31.82 | 30.3 | 33.25 |
| Earning Per Share (Diluted) | 1.71 | 5.2 | 7.92 | 11.59 |
Balance Sheet
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 9 | 10 | 9.74 | 14 |
| CWIP | 0 | 0.2 | 0 | 0 |
| Investments | 827 | 92 | 162 | 97 |
| Trade Receivables | 12 | 8.8 | 30 | 35 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Assets | 1453 | 3813 | 4838.26 | 4839 |
| Total Assets | 2301 | 3924 | 5040 | 4985 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 87.6 | 94.3 | 113.6 | 121.7 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 67.4 | 128.7 | 315.4 | 566 |
| Borrowings | 0 | 0 | 0 | 0 |
| Trade Payables | 16 | 31 | 77 | 64 |
| Other Liabilities | 2130 | 3670 | 4534 | 4233.3 |
| Total Liabilities | 2301 | 3924 | 5040 | 4985 |
About Company
The following table shows a 10-point analysis of Onix Renewable Limited. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | FY25 Revenue from Operations ₹556 cr · PAT ₹205 cr · PAT margin ~37% | Leading non-bank custodian, clearing member & RTA in India; provides securities custody, fund accounting, clearing (equity/commodity), debenture trustee, escrow, RTA services; strong institutional & FPI focus; AUC ~₹1.43 lakh cr (up from prior); debt-free, high-margin financial infra player. |
| Industry & Market Position | Dominant non-bank custodian (~significant share in non-bank segment) · Benefits from institutional/FPI growth & market volumes | Structural advantages as agile alternative to bank custodians; competitive edge in cost, tech & service; resilient via recurring fees (~annuitized) & SEBI-regulated moat; benefits from rising demat, FII inflows, bond issuances & digital markets. |
| Revenue Growth Trend | FY23–FY25 CAGR ~37% (from ~₹297 cr to ₹556 cr; ~30% YoY in FY25) | Robust expansion from higher volumes, client additions (~4,800+ custody), fee revisions & diversification (trustee/escrow); outpaced peers amid market buoyancy; sustained by capital market tailwinds & AUC growth. |
| Profitability & Margins | EBITDA ~₹379 cr (margin ~68%) · ROE ~25%+ · PAT margin ~37% | Exceptional margin expansion from operating leverage & efficiency; PAT +45% YoY despite scale; high-quality, stable earnings with low variable costs & recurring revenue; superior ROCE/ROE vs. many financial services peers. |
| Cash Flow Quality | OCF strong & consistent · Dividend ₹1.80/share (recommended) | Excellent cash from ops & fees; supports dividends & growth; minimal working capital intensity; high earnings quality with low volatility & debt-free core. |
| Balance Sheet Strength | Net worth ~₹900 cr (book value ~₹72/share) · Debt near-nil/low (debt-free trends) | Extremely conservative & robust; high liquidity & buffers; significant downside protection from asset-light model & equity base; strong solvency & coverage. |
| Valuation Comfort | Unlisted price ~₹410–470 (Feb 2026 range) implies P/E ~25–30x (EPS ~₹16–17) | Premium multiple justified by quality, growth & high margins; market cap ~₹5,100–5,800 cr range; attractive vs. listed peers (e.g., CDSL); reasonable for stable infra play with re-rating potential. |
| Management & Governance | Professional management with institutional promoters · SEBI-regulated · Clean disclosures & annual reports | Proven execution in scaling & diversification; transparent reporting; excellent governance as MII; no major scrutiny; benefits from regulatory alignment & compliance. |
| Growth Triggers & Catalysts | Rising FPI/institutional inflows · Bond/securitization volumes · New services & client wins · No confirmed near-term IPO/DRHP (pre-IPO prep noted but no active filing) | Organic upside from capital market expansion, demat penetration & fee growth; incremental from tech & service additions; potential value from sustained profitability & market momentum. |
| Liquidity & Exit Visibility | OTC liquidity only · No confirmed IPO/DRHP plans (focus on organic growth) | Moderate unlisted trading; capital somewhat locked; exit via OTC or strategic interest; real liquidity risk but high-quality, defensive asset with strong fundamentals. |
Orbis Financial Corporation Ltd (OFCL) is a financial services company based in Gurugram, Haryana. It operates in key capital-market infrastructure segments: custody & fund accounting, clearing (equity, commodity, currency derivatives), registrar & transfer agency (RTA), and trusteeship services. The company was incorporated in 2005, and it started its commercial operations around 2009 as a custodian of securities. The following are some of the important details about Orbis Financial:
- Orbis’s business model is “zero-conflict”: as a dedicated service provider, it does not compete with its clients.
- Its core clients include Foreign Portfolio Investors (FPIs), AIFs, PMS, high-net-worth individuals (HNIs), corporates, and more
- It is SEBI-registered in multiple capacities: as a custodian, designated depository participant for FPIs, clearing member on major exchanges (NSE, BSE, MCX), and depository participant for NSDL & CDSL
- Orbis has also expanded into GIFT City (IFSC jurisdiction), strengthening its global financial infrastructure role.
Challenges in Orbis’s Business
- Capital-markets exposure: Its business strongly depends on capital-market activity, especially flows from FPIs, AIFs, and institutional clients. In volatile markets, this revenue could fluctuate.
- Working capital risk: As a custodian and clearing member, Orbis handles large volumes and funds, which could create working-capital strain, especially in times of market stress.
- Regulatory risk: Being deeply embedded in financial market infrastructure, it is exposed to regulatory changes (SEBI, depositories, clearing).
- Competition: There are other players in custody, clearing, RTA, and trusteeship – Orbis needs to continuously invest in technology to maintain its edge.
- Concentration risk: Though Orbis has a diversified institutional client base, large clients or specific segments (like FPI) might contribute disproportionately to its revenue, making it sensitive to client churn.
Quick Summary
Orbis Financial Corporation Ltd is a key infrastructure player in India's capital markets, providing custody, clearing, RTA, and trusteeship services to institutional and high-net-worth clients. Over recent years, it has shown strong financial growth, very good profitability, and an expanding client base. Its asset-light model, zero-debt philosophy, and entry into GIFT City make it well-positioned. However, its dependence on market cycles and institutional flows, along with regulatory risks, are key challenges. For investors, Orbis offers a high-quality unlisted opportunity in the financial infrastructure space — especially if you believe in long-term institutional market growth in India.
Shareholding Pattern of Orbis Financial Corporation Ltd
| Name | Holding |
|---|---|
| Atul Gupta | 21.79% |
| Arpit Khandelwal | 18.48% |
| Madhulika Agarwal | 7.87% |
| Ashish Kacholia | 7.80% |
| Orbis Foundation | 5.77% |
| Plutus Wealth Management LLP | 6.20% |
| Others | 32.08% |
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Frequently Asked Questions
Orbis Financial Corporation Ltd unlisted shares refer to privately held equity in a non-listed financial services company. These shares are not traded on exchanges like NSE or BSE and are available via private marketplaces such as UnlistedKraft.
Yes, UnlistedKraft provides verified access to Orbis Financial Corporation Ltd unlisted shares. Complete your KYC, place your order, and shares are typically credited to your demat account within 24 hours.
Unlisted share investments carry risks such as limited liquidity and reduced public disclosure. However, Orbis is a registered financial institution and investing via UnlistedKraft ensures a secure, transparent, and verified transaction.
Pricing is based on recent private trades, investor interest, the company’s financial performance, and valuation trends. UnlistedKraft regularly updates prices to reflect fair and current market value.
Yes, you must have an active demat account to receive and hold unlisted shares of Orbis Financial Corporation Ltd.
There is no mandatory holding period unless the company lists publicly. Most investors hold until a liquidity event such as an IPO or strategic sale to maximise returns.
Yes, you can resell through UnlistedKraft’s resale network, depending on buyer availability and current market demand.
Yes. According to SEBI regulations, pre-IPO shareholders must observe a six-month lock-in period after the company is listed.
If held for more than two years, long-term capital gains are taxed at 20 percent with indexation. If sold within two years, gains are treated as short-term and taxed as per your income tax slab.
UnlistedKraft offers secure and verified access to unlisted share opportunities like Orbis, along with transparent pricing, expert support, and fast delivery of shares to your demat account.
+91-9599071664
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