Executive Summary

Choice International Limited (Choice) has emerged as a leading financial services conglomerate in India with diversified operations spanning stock broking, insurance distribution, MSME lending, and government advisory services. The company’s robust financial performance, expanding market presence, and investment in technology-driven solutions position it well for sustainable long-term growth.

Financial Performance Highlights

Q2 FY25 vs Q2 FY24

Revenue from Operations grew by 29.6% to ₹2,492 Mn. EBITDA increased by 51% to ₹777 Mn, with margins improving to 31.16%. PAT rose by 56% YoY to ₹465 Mn.

H1 FY25

Revenue: ₹4,551 Mn (YoY growth of 37%)
EBITDA: ₹1,359 Mn (52% increase YoY)
PAT: ₹785 Mn (53% YoY increase)

Strategic Growth Drivers

1. Diversified Business Portfolio

Stock Broking: Expanding presence in Tier III and below geographies
Insurance Distribution: 131% YoY growth in policies sold
MSME Lending: Recent acquisitions of Paisobuddy and Sureworth
Government Advisory: Substantial infrastructure consulting order book

2. Operational Metrics

30.2% Operating Profit Margin and 23.6% Return on Equity highlight strong operational efficiency. Continuous focus on client-centric innovations.

3. Tech-Driven Expansion

Proprietary digital tools enhance customer engagement with upcoming features like family mapping and simplified auto-pay journeys.

Future Projections

Projected revenue CAGR of 30-35% over the next three years. PAT growth expected to sustain at 50-55%. Pan-India expansion through 168 branch offices.

Investment Recommendation