Stockal is a Bengaluru-based neo-brokerage platform established in 2015 by Sitashwa Srivastava and Vinay Bharathwaj. Its mission is to empower retail investors across India, the Middle East, and Southeast Asia by providing access to over 5,500 U.S. stocks, ETFs, and IPOs through an intuitive, unified platform.
Backed by approximately USD 14 million in funding from prominent investors including HDFC Bank, Hashed, and PEAK6, Stockal has successfully processed over half a billion dollars in cross-border investment transactions, catering to a growing international user base through both its direct-to-consumer and B2B partnerships with leading financial institutions.
CHALLENGE
Ensuring Accurate and Compliant Foreign Trade P&L Computation
As Stockal scaled its global offering, manually computing profit-and-loss (P&L) for foreign securities became increasingly complex. Spreadsheet workflows struggled with variable acquisition dates, trading volumes, exchange rates, and holding periods. These outdated processes were slow, error-prone, and undermined trust in tax reporting, while also bogging down internal teams with tedious reconciliation tasks.
SOLUTION
Integration of Sandbox Tax P&L API for Foreign Securities
Stockal integrated Sandbox’s Tax P&L API to automate calculation of profits and losses on foreign trades. Instead of handling complex calculations manually, trade data was sent to Sandbox, which processed everything, considering factors like trade date, price, and currency rate. The API returned reports showing total gains or losses, income classification, and other tax-relevant details in formats ready for filing. This helped ensure accuracy and saved the team significant time.
RESULTS
Real-Time, Audit-Ready P&L Reporting
Following the integration, Stockal shifted from delayed, spreadsheet-driven workflows to real-time, audit-ready P&L reporting. The system now delivers accurate trade-level and portfolio-wide summaries at the click of a button. Standardized, ITR-aligned outputs simplified tax filing efforts and significantly reduced support overhead. This automation has enabled the team to redirect focus toward enhancing platform features and improving customer experience.
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