Analyzing PROFITMART SECURITIES PRIVATE LIMITED based on the requested criteria requires careful consideration of available data, especially given the possibility that it may be a shell company. Below is a comprehensive analysis covering online complaints, risk assessment, website security, WHOIS lookup, IP and hosting, social media, red flags, regulatory status, user precautions, and potential brand confusion. Since website information is not provided, I’ll rely on available data from search results, public records, and logical inferences, while noting limitations and emphasizing caution where applicable. I’ll also address the shell company concern by scrutinizing financial and operational transparency.

1. Company Overview ¶

• Name: PROFITMART SECURITIES PRIVATE LIMITED (formerly M3Multiple Securities Brokers Pvt. Ltd.)
• Incorporation: May 9, 2011, registered in Mumbai, India.
• CIN: U65990MH2011PTC217211
• Registered Address: Unit No. 213, Opal Square, Plot No. C-1, Thane East, Thane, Maharashtra, India - 400604
• Business Activities: Stock broking, offering trading in equities, derivatives, currency, commodities, IPOs, mutual funds, and real estate.
• Directors: Niranjan Gopal Mahajan, Rakesh Prakash Sonawane, Ramanathan Kannadasan Yesudasan.
• Financials (as of March 31, 2023):
• Authorized Share Capital: INR 15,000,000
• Paid-Up Capital: INR 9,180,000
• Operating Revenue: INR 1 cr - 100 cr
• EBITDA: Decreased by 56.57% year-over-year
• Book Net Worth: Increased by 26.62%
• Status: Active, with last AGM held on September 30, 2023. Shell Company Concern: The significant drop in EBITDA (-56.57%) despite revenue in the INR 1-100 cr range and a modest increase in net worth raises questions about operational efficiency or potential financial manipulation. Limited public financial transparency (e.g., no detailed profit/loss statements) is common for private companies but could indicate a shell company if paired with minimal operational activity or regulatory issues. Further scrutiny is needed.

2. Online Complaint Information ¶

• Sources: Complaints are tracked via stock exchanges (BSE, NSE) and consumer complaint portals.
• Complaint Data:
• Profitmart Securities has a consumer complaints monitoring system, with details available on BSE/NSE portals. Specific complaint numbers or resolution rates are not publicly detailed in the provided data, which is a transparency concern.
• The National Stock Exchange (NSE) publishes redressal reports for complaints against trading members, but no specific mention of Profitmart was found in the 2016-17 report (latest referenced).
• GarvThakur.com notes that complaints against Profitmart include unresolved grievances escalated to stock exchanges, indicating some customer dissatisfaction. However, the severity or volume of these complaints is unclear.
• Analysis: The lack of specific complaint metrics (e.g., number of complaints, resolution percentage) is a red flag, as reputable brokers typically provide transparent grievance redressal data. Unresolved complaints filed with exchanges suggest potential service or operational issues. The absence of detailed negative reviews on platforms like WikiFX or TraderKnows (unlike other brokers like Profitlevel) is neutral but not conclusive due to limited data. Shell Company Note: Minimal complaint visibility could indicate low client activity, consistent with a shell company operating with limited genuine business. However, it could also reflect effective complaint resolution or underreporting.

3. Risk Level Assessment ¶

• Regulatory Risk:
• WikiFX reports that Profitmart has no valid regulatory information, labeling it a high-risk broker due to lack of oversight by recognized financial authorities.
• SEBI Registration: Profitmart claims SEBI registration (INZ000093633) and memberships with NSE (14556), BSE (6676), MCX (40885), and CDSL (IN-DP-295-2016).
• Research Analyst SEBI Registration: INH000005582.
• However, WikiFX’s claim of no valid regulation contradicts Profitmart’s SEBI credentials, suggesting either outdated information or potential misrepresentation. Verification with SEBI’s official portal is critical.
• Financial Risk:
• The 56.57% EBITDA decline indicates financial distress or poor operational performance, increasing risk for clients relying on the firm’s stability.
• No defaults or delays in regulatory filings are explicitly noted, but the lack of detailed financial disclosures limits risk assessment.
• Operational Risk:
• Profitmart offers margin calculators and trading platforms, but there’s no mention of robust risk management tools or client fund segregation practices, which are critical for broker reliability.
• Employee reviews on AmbitionBox rate work-life balance highly (4.1/5) but skill development poorly (3.3/5), suggesting potential gaps in expertise or training that could affect service quality. Risk Level: High. The unverified regulatory status, significant EBITDA decline, and lack of transparent complaint data contribute to a high-risk profile. The shell company hypothesis is plausible if operational activity is minimal, but active SEBI registration and exchange memberships suggest some legitimacy.

4. Website Security Tools ¶

• Website: The official website is likely profitmart.in, based on multiple references.
• Security Practices:
• Profitmart’s Privacy Policy claims to use encryption software for data transmission and stores data on secure systems with limited employee access.
• Account information is password-protected, and users are responsible for maintaining password secrecy.
• No specific mention of advanced security tools like two-factor authentication (2FA), SSL certificates, or regular security audits. The absence of such details is concerning for a financial platform.
• Analysis: The claimed encryption and secure storage are standard but lack specificity (e.g., encryption type, compliance with ISO/IEC 27001). Without evidence of SSL (HTTPS), 2FA, or third-party security audits, website security appears basic, increasing vulnerability to data breaches. This is particularly risky for a broker handling sensitive financial data. Shell Company Note: A shell company might maintain a minimal website with generic security claims to appear legitimate. The lack of detailed security disclosures supports this possibility.

5. WHOIS Lookup ¶

• Domain: profitmart.in
• WHOIS Data: No specific WHOIS details are provided in the search results. Typically, WHOIS lookup would reveal:
• Domain registration date
• Registrant name and contact (unless privacy-protected)
• Registrar and name servers
• Inference:
• The domain is referenced consistently across Profitmart’s official communications, suggesting it’s active and controlled by the company.
• Without WHOIS data, we cannot confirm registration age, ownership, or privacy protection status. A privacy-protected domain could hide ownership, a potential red flag for a shell company.
• Action Needed: Perform a WHOIS lookup via tools like ICANN or GoDaddy to verify domain age and registrant details. A recently registered or privacy-protected domain would increase suspicion.

6. IP and Hosting Analysis ¶

• Hosting Information: No specific IP address or hosting provider details are available in the provided data.
• Inference:
• Profitmart’s website (profitmart.in) is operational, suggesting it’s hosted on a commercial server.
• Reputable brokers typically use secure, reputable hosting providers (e.g., AWS, Google Cloud) with dedicated IPs and DDoS protection. Lack of transparency about hosting raises concerns about infrastructure reliability.
• Analysis: Without IP or hosting data, we cannot assess server location, security, or uptime reliability. A shell company might use cheap or shared hosting to minimize costs, potentially compromising performance and security. Action Needed: Use tools like Pingdom or MXToolbox to identify the website’s IP, hosting provider, and server location. Shared or low-cost hosting would be a red flag.

7. Social Media Presence ¶

• LinkedIn: Profitmart has a LinkedIn page with 990 followers, describing itself as a top stock broker offering diversified investment options. The page appears active and aligns with the company’s branding.
• Other Platforms: No mention of Twitter/X, Facebook, or Instagram presence in the provided data.
• Analysis:
• The LinkedIn presence is positive, indicating some marketing effort and public engagement. However, 990 followers is modest for a broker operating since 2010, suggesting limited brand reach.
• The absence of activity on other platforms (e.g., Twitter/X for market updates) is unusual for a modern broker, as social media is a key client engagement tool. This could indicate low marketing investment or a focus on minimal operations, consistent with a shell company.
• Red Flag: Limited social media presence beyond LinkedIn reduces transparency and client interaction, increasing risk perception.

8. Red Flags and Potential Risk Indicators ¶

• Regulatory Ambiguity:
• WikiFX’s claim of “no valid regulatory information” conflicts with Profitmart’s SEBI registration claims. This discrepancy is a major red flag until verified.
• Financial Opacity:
• Significant EBITDA decline (-56.57%) without detailed explanations suggests financial instability or manipulation.
• Lack of public financial statements or audit reports limits transparency.
• Complaint Transparency:
• Unspecified complaint volumes and resolution rates raise concerns about client satisfaction and operational integrity.
• Website and Security:
• Generic security claims without evidence of 2FA, SSL, or audits suggest inadequate protection for client data.
• Shell Company Indicators:
• Modest paid-up capital (INR 9.18M) relative to authorized capital (INR 15M) and revenue range (INR 1-100 cr) could indicate undercapitalization or limited operations.
• Minimal social media presence and lack of detailed operational disclosures align with shell company traits (e.g., maintaining a facade of activity).
• Referral Bonus Concerns:
• Profitmart offers a 20% brokerage referral bonus, but terms are unclear, raising concerns about unsustainable or misleading incentives. Summary: Multiple red flags—regulatory ambiguity, financial opacity, limited complaint transparency, and minimal digital footprint—suggest elevated risk. The shell company hypothesis is supported by financial inconsistencies and low operational visibility but not confirmed without deeper investigation.

9. Website Content Analysis ¶

• Content Overview (based on profitmart.in references):
• Promotes itself as a leading discount broker offering equities, derivatives, commodities, IPOs, mutual funds, and real estate.
• Highlights low brokerage rates, margin calculators, and mobile/web trading platforms.
• Includes Privacy Policy, Terms & Conditions, and Research Disclaimer emphasizing SEBI compliance and market risk warnings.
• Claims:
• “Trusted stock broker in India” and “one of the best platforms” for demat accounts.
• Fast account opening, attractive brokerage, high leverage, and advanced trading technology.
• Analysis:
• The website content is professional and aligns with industry standards, emphasizing SEBI compliance and risk disclosures. However, superlative claims (“best,” “trusted”) lack substantiation via client testimonials or independent reviews.
• The focus on low brokerage and high leverage could attract speculative traders, increasing risk for uninformed investors.
• No evidence of misleading or exaggerated statements prohibited by SEBI (e.g., guaranteed returns), but the referral bonus terms need clarification to avoid deception.
• Shell Company Note: The website’s polished content could be a facade to attract clients while masking limited operations. The lack of detailed service descriptions or client success stories supports this concern.

10. Regulatory Status ¶

• Claimed Registrations:
• SEBI: INZ000093633
• NSE: 14556
• BSE: 6676
• MCX: 40885
• CDSL: IN-DP-295-2016
• Research Analyst: INH000005582
• Verification:
• WikiFX’s claim of no valid regulation is concerning and requires cross-checking with SEBI’s official database (sebi.gov.in).
• SEBI registration and exchange memberships suggest legitimacy, but the lack of confirmation from primary sources (e.g., SEBI portal) leaves room for doubt.
• Compliance:
• Profitmart’s disclaimers align with SEBI requirements, warning about market risks and prohibiting misleading claims.
• No reported regulatory defaults or penalties, but the absence of detailed compliance records limits assessment.
• Analysis: The regulatory status is ambiguous due to conflicting information. SEBI registration, if valid, indicates oversight, but WikiFX’s warning suggests potential lapses or misrepresentation. Verification is critical. Shell Company Note: A shell company might claim regulatory credentials to appear legitimate. The discrepancy between Profitmart’s claims and WikiFX’s findings warrants further investigation.

11. User Precautions ¶

To mitigate risks when dealing with Profitmart Securities, users should:

1. Verify Regulatory Status: Check SEBI’s official portal (sebi.gov.in) to confirm registration (INZ000093633) and exchange memberships. Avoid trading until verified.
2. Conduct Due Diligence:
   • Request detailed financial statements and audit reports from Profitmart.
   • Review BSE/NSE complaint portals for specific grievance data.
3. Secure Accounts:
   • Use strong, unique passwords and enable 2FA (if available).
   • Monitor account activity for unauthorized access.
4. Avoid High Leverage: Be cautious with high-leverage offerings, as they amplify losses.
5. Clarify Referral Bonuses: Obtain written terms for the 20% brokerage referral bonus to avoid hidden conditions.
6. Test with Small Investments: Start with minimal capital to assess service reliability and withdrawal processes.
7. Monitor Red Flags: Be wary of unresolved complaints, financial opacity, or pressure to invest quickly.
8. Report Issues: File complaints with BSE/NSE or SEBI if services are unsatisfactory or suspicious. Shell Company Precaution: Request proof of active client accounts and transaction volumes to confirm operational legitimacy. Avoid large investments without verified financial transparency.

12. Potential Brand Confusion ¶

• Similar Names:
• Profitlevel: A Cyprus-based forex platform flagged as “Suspected Fraud” due to inaccessible website and regulatory issues.
• No direct connection to Profitmart, but the similar name (“Profit” prefix) could cause confusion, especially since both operate in financial markets.
• Other Brokers:
• Indian brokers like Zerodha, Upstox, or Angel One are well-known discount brokers. Profitmart’s claim of being a “leading discount broker” might lead to confusion with these established brands.
• Analysis:
• The similarity with Profitlevel is a concern, as clients might mistake Profitmart for a fraudulent entity, especially given WikiFX’s negative review.
• Profitmart’s branding as a discount broker aligns with industry trends but lacks unique differentiation, increasing the risk of confusion with competitors.
• Shell Company Note: A shell company might adopt a generic name like “Profitmart” to blend in with legitimate brokers, leveraging brand confusion to attract clients. Recommendation: Users should verify the exact company name (PROFITMART SECURITIES PRIVATE LIMITED) and CIN (U65990MH2011PTC217211) to avoid mistaking it for similar entities.

13. Shell Company Hypothesis ¶

Given the concern that Profitmart may be a shell company, let’s evaluate key indicators:

• Financial Indicators:
• Significant EBITDA decline (-56.57%) despite revenue suggests possible financial manipulation or minimal operations.
• Modest paid-up capital (INR 9.18M) relative to revenue (INR 1-100 cr) could indicate undercapitalization or a facade of activity.
• Operational Transparency:
• Limited complaint data, social media presence, and financial disclosures reduce visibility into operations.
• The website’s generic content and lack of client testimonials or case studies suggest minimal client engagement.
• Regulatory Concerns:
• Conflicting regulatory status (SEBI claims vs. WikiFX’s warning) raises doubts about legitimacy.
• Activity Level:
• Active SEBI registration, exchange memberships, and LinkedIn presence suggest some operations, but the scale is unclear.
• No evidence of large-scale client activity or market presence compared to established brokers like Zerodha. Conclusion: The shell company hypothesis is plausible but not definitive. The EBITDA decline, regulatory ambiguity, and limited transparency align with shell company traits, but active registrations and operational claims (e.g., trading platforms, client services) suggest some legitimate activity. A shell company might maintain minimal operations to appear credible while serving other purposes (e.g., fund diversion). Definitive proof requires audited financials, client transaction data, and regulatory verification.

14. Final Risk Assessment and Recommendations ¶

• Overall Risk Level: High
• Key Risks: Unverified regulatory status, financial opacity, limited complaint transparency, basic website security, and potential shell company traits.
• Mitigating Factors: SEBI registration claims, exchange memberships, and professional website content suggest some legitimacy, but these need verification.
• Recommendations:

1. Verify Credentials: Confirm SEBI registration and exchange memberships via official portals (sebi.gov.in, nseindia.com, bseindia.com).
2. Request Transparency: Demand audited financial statements, client transaction volumes, and complaint resolution data from Profitmart.
3. Perform Technical Checks: Conduct WHOIS lookup, IP/hosting analysis, and website security scans (e.g., SSL Checker) to assess digital infrastructure.
4. Engage Cautiously: Start with a small demat account, monitor services closely, and avoid high-leverage trades or large investments.
5. Investigate Shell Company Risk: Request proof of active client accounts and operational scale. Consult a financial advisor or legal expert if suspicious.
6. Monitor Online Presence: Check for updated reviews or complaints on BSE/NSE portals, WikiFX, or social media to track emerging issues.

• Shell Company Action: If suspicions persist, report to SEBI or the Registrar of Companies for investigation into financial and operational legitimacy. Disclaimer: This analysis is based on available data and does not constitute investment advice. Users should conduct independent due diligence and consult professionals before engaging with Profitmart Securities. Investments in securities are subject to market risks, and regulatory verification is essential.

If you have additional information (e.g., website access, specific complaints, or financial documents), I can refine the analysis further. Would you like me to perform a specific check, such as a WHOIS lookup or deeper regulatory verification, assuming I can access relevant tools?