Kfin Technologies Limited (KFINTECH)

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Kfin Technologies Limited (KFINTECH) · mywealthgrid

About

Kfin Technologies provides depository, clearing house, and market intermediary services for India's capital markets. With a market cap of ₹16,243.2 Cr, it operates as a key infrastructure player, capturing fees from custody, settlement, and related financial services.

Face value: ₹10

Market cap

₹14,377 Cr

P/E

42.1×

P/B

8.6×

Dividend yield

2.3%

ROE

22.3%

ROCE

23.8%

Debt / equity

OPM

40.7%

EPS (TTM)

₹19.8

Book value

₹97.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Stock declined 13.74% over 1y despite consistent profitability; verify which fundamentals markets are pricing in and whether valuation concerns override operational strength.
PE multiple of 47.54 is elevated; verify if growth trajectory or competitive moat justify this valuation, or if it reflects cyclical peak.
Operating margins vary 34–47% quarterly, suggesting revenue or cost volatility—identify drivers and whether this volatility will persist.
FII shareholding dropped from 26.26% (Mar 2026) to 20.73% (Jun 2026); verify if this signals institutional caution or reflects broader market rotation.

Generated analysis · source review pending

Growth drivers

Operating margins of 34–47% and zero debt (D/E 0) provide reinvestment capacity without financial constraints.
Quarterly net profits of ₹75–94 Cr and consistent dividend issuance demonstrate stable cash generation.
Growth depends on Indian capital markets expansion—verify trends in equity trading volumes, retail investor participation, and AUM under custody.
Regulatory infrastructure requirements support service demand—verify changes in clearing and settlement regulations that could expand service mandates.

Generated analysis · source review pending

923 historical price candles were omitted because the exchange source has not been verified.

₹832.0-0.7%1Y

Quick read

rule-based

Pros

+Strong return on equity of 24.3% (3-yr avg)
+High return on capital employed of 28.1%
+Healthy operating margin of 40.7%
+Profit CAGR of 20.6% over the last 3 years
+Revenue CAGR of 21.8% over the last 3 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 103.6×
+Dividend payout of 98.6% of profit

Cons

−Trading at 8.6× book value
−Low promoter holding of 22.8%

Research score

Structured signal from quality, growth, valuation and momentum.

60/100

Business quality: 86

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 50 NIFTY SMALLCAP 100 NIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	640	720	838	1,091	1,301
	352	422	473	612	773
	288	298	364	479	529
OPM %	45%	41.4%	43.5%	43.9%	40.6%
Depreciation	37	47	53	64	86
Interest	53	11	8	5	5
	6	17	25	38	30
Profit before tax	204	258	327	448	468
Tax	55	62	81	115	124
Tax %	27.2%	24.2%	24.8%	25.7%	26.5%
	149	196	246	333	344
PAT margin %	23.2%	27.2%	29.4%	30.5%	26.4%
EPS (₹)	9.4	11.7	14.5	19.4	20
EPS adjusted (₹)	8.9	11.6	14.4	19.3	19.9
	0%	0%	39.8%	38.7%	60.2%
Annual report	—	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	168	169	171	172	173
Reserves	477	701	970	1,236	1,501
Minority interest	—	—	—	—	0
	253	130	0	0	0
	129	251	278	343	1,101
Total equity & liabilities	1,026	1,251	1,419	1,751	2,774
	635	664	719	762	1,723
CWIP	1	0	0	3	5
Investments	100	234	150	462	239
	291	353	549	523	807
Total assets	1,026	1,251	1,419	1,751	2,774

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	256	223	289	399	370
	-125	-204	-178	-323	-203
	-115	7	-127	-95	-134
Net cash flow	16	26	-15	-19	33
Free cash flow	256	200	261	358	329
CFO / Operating profit %	89%	75%	78.9%	83.3%	69.8%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Domestic mutual fund investor solutions	862.23	488.92	776.77	52.56	724.21	67.51
International and other investor solutions	268.04	25.6

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—
EBITDA margin %	45%	41.4%	43.8%	43.9%	40.7%
EBIT margin %	39.2%	34.9%	37.4%	38%	34.1%
PAT margin %	23.2%	27.2%	29.4%	30.5%	26.4%
Working capital
Receivable days	64	64	66	64	76
Inventory days	—	0	0	0	0
Payable days	0	23	27	40	37
NWC days	—	42	39	24	39
Leverage
Current ratio	2.75	2.04	5.14	5.19	3.28
Debt to EBITDA	0.88	0.44	0	0	0
Debt to equity	0.39	0.15	0	0	0
Interest coverage	4.9	25.3	40.1	96.6	103.6
Asset turnover	0.62	0.58	0.59	0.62	0.47
Return ratios
Return on assets %	14.5%	15.6%	17.3%	19%	12.4%
Return on capital employed %	27.8%	27.7%	29.1%	31.4%	23.8%
Return on equity %	23.1%	22.5%	21.6%	23.6%	20.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	49.12%	39.05%	38.97%	33.06%	33.04%	32.96%	32.91%	22.9%	22.89%	22.87%	22.86%	22.82%
	9.22%	12.13%	16.73%	22.8%	24.61%	25.4%	22.56%	27.81%	25.54%	26.16%	26.26%	20.73%
	22.05%	24.64%	20.98%	21.47%	20.61%	19.43%	20.37%	23.7%	24.8%	24.87%	25.23%	27.31%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	19.61%	24.18%	23.32%	22.67%	21.74%	22.21%	24.16%	25.59%	26.77%	26.1%	25.65%	29.14%
No. of shareholders	—	—	—	—	—	—	—	—	2,63,696	2,55,939	2,45,764	2,66,471

Promoter holding down 26.3 percentage points since Sep 2023.

39 deals · 29 Dec 2022 – 27 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
27 Jul 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	10,72,636	₹921.94	₹98.89 Cr
27 Jul 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	10,72,636	₹923.85	₹99.10 Cr
30 Apr 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	10,12,185	₹918.42	₹92.96 Cr
30 Apr 2026	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	10,12,185	₹917.79	₹92.90 Cr
30 Apr 2026	JAINAM BROKING LIMITED	Bulk	NSE	Sell	9,15,828	₹904.92	₹82.88 Cr
30 Apr 2026	JAINAM BROKING LIMITED	Bulk	NSE	Buy	24,117	₹909.52	₹2.19 Cr
13 May 2025	GENERAL ATLANTIC SINGAPORE FUND PTE LTD	Bulk	NSE	Sell	86,00,000	₹1,041.56	₹895.74 Cr
13 May 2025	GENERAL ATLANTIC SINGAPORE FUND PTE LTD	Bulk	NSE	Sell	86,00,000	₹1,040.31	₹894.67 Cr
13 May 2025	SOCIETE GENERALE	Bulk	NSE	Buy	34,47,285	₹1,040.00	₹358.52 Cr
13 May 2025	KOTAK MAHINDRA MUTUAL FUND	Bulk	NSE	Buy	19,32,367	₹1,040.00	₹200.97 Cr

1–10 of 39

1 / 4

Mr. Vishwanathan Mavila NairNon-Executive - Non Independent Director-Chairperson
Mr. Anish KumarChief Risk Officer
Mr. Venkata Satya Naga Sreekanth NadellaExecutive Director-CEO-MD
Mr. Shantanu RastogiNon-Executive - Nominee Director
Mr. Srinivas PeddadaNon-Executive - Nominee Director
Ms. Radha RajappaNon-Executive - Independent Director
Mr. Kaushik MazumdarNon-Executive - Independent Director
Mr. Chengalath JayaramNon-Executive - Independent Director
Mr. Alok Chandra MisraNon-Executive - Non Independent Director
Mr. Shankar IyerNon-Executive - Independent Director
Mr. Devang GheewallaNon-Executive - Nominee Director

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹840.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹832.9	+0.5	+0.1%	₹832.9	8,892	+4	1,046	575
23 Nov 2026	₹824.4	-0.6	-0.1%	₹824.4	402	+29	96	575
29 Dec 2026	₹825.0	-25.7	-3%	₹853.3	6	+6	6	575

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

20

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	720

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 14 fund houses

Held by these funds

10.51%

of the company's equity

All mutual funds

16.74%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

63 schemes · 14 fund houses

		Shares
SMALL CAP FUND	Nippon India Mutual Fund	39.38 L	381.94	0.46%	2.279%	-0
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	31.2 L	302.63	1.54%	1.805%	+6.49 L
Small Cap Fund	Axis Mutual Fund	24.13 L	234.02	0.74%	1.396%	-0
BANKING & FINANCIAL SERVICES FUND	Nippon India Mutual Fund	14.44 L	140.02	1.77%	0.835%	+50,000
Portfolio of Kotak Pioneer FundNEW	Kotak Mahindra Mutual Fund	7.03 L	68.16	1.59%	0.407%	—
Flexi Cap Fund	Nippon India Mutual Fund	6.34 L	61.47	0.63%	0.367%	-0
Multi Asset Allocation Fund	Nippon India Mutual Fund	6.1 L	59.19	0.33%	0.353%	-0
Multi Asset Allocation Fund	DSP Mutual Fund	5.93 L	57.52	0.52%	0.343%	-0

1–8 of 63

1 / 8

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPT REC
Apr 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results26 Oct 2026 · in 25 daysresults

3

Final dividend15 Jul 2026 · ex-date₹12
Final dividend22 Aug 2025 · ex-date₹7.5
Final dividend23 Aug 2024 · ex-date₹5.75

2

Board meeting to consider results26 Oct 2026
Board meeting to consider results24 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

41 announcementsExport CSV

1 Oct 2026, 11:03 amCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

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Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—
EBITDA margin %	45%	41.4%	43.8%	43.9%	40.7%
EBIT margin %	39.2%	34.9%	37.4%	38%	34.1%
PAT margin %	23.2%	27.2%	29.4%	30.5%	26.4%
Working capital
Receivable days	64	64	66	64	76
Inventory days	—	0	0	0	0
Payable days	0	23	27	40	37
NWC days	—	42	39	24	39
Leverage
Current ratio	2.75	2.04	5.14	5.19	3.28
Debt to EBITDA	0.88	0.44	0	0	0
Debt to equity	0.39	0.15	0	0	0
Interest coverage	4.9	25.3	40.1	96.6	103.6
Asset turnover	0.62	0.58	0.59	0.62	0.47
Return ratios
Return on assets %	14.5%	15.6%	17.3%	19%	12.4%
Return on capital employed %	27.8%	27.7%	29.1%	31.4%	23.8%
Return on equity %	23.1%	22.5%	21.6%	23.6%	20.5%

Calls	Strike	Puts
0	0	0	₹0.0	720

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
National Stock Exchange of India LtdNSENSE	₹4,30,972 Cr	₹4,35,023 Cr	₹16,601 Cr	—	—	₹10,302 Cr	62.1%	3.3%	33%	—
ICICI Prudential Asset Management Company LimitedICICIAMCICICIAMC	₹1,52,462 Cr	₹1,52,462 Cr	₹5,765 Cr	₹4,294 Cr	74.5%	₹3,298 Cr	57.2%	—	85.8%	—
Billionbrains Garage Ventures LimitedGROWWGROWW	₹1,12,994 Cr	₹1,13,218 Cr	₹5,242 Cr	₹3,234 Cr	59.1%	₹2,440 Cr	44.9%	29.4%	21.6%	-1,528
Sbi Funds Management LimitedSBIFUNDSSBIFUNDS	₹1,01,911 Cr	—	₹4,389 Cr	₹3,472 Cr	79.1%	₹3,067 Cr	69.9%	—	43%	—
Multi Commodity Exchange Of India LimitedMCXMCX	₹81,702 Cr	₹81,702 Cr	₹2,302 Cr	₹1,643 Cr	71.3%	₹1,332 Cr	57.8%	46.7%	56.3%	-321
Nippon Life India Asset Management LimitedNAM-INDIANAM-INDIA	₹66,871 Cr	₹66,871 Cr	₹2,869 Cr	₹1,915 Cr	66.3%	₹1,637 Cr	56.5%	—	34.5%	—
Motilal Oswal Financial Services LimitedMOTILALOFSMOTILALOFS	₹59,602 Cr	₹80,857 Cr	₹10,063 Cr	₹4,120 Cr	41.3%	₹1,980 Cr	20%	—	15.6%	—
360 One Wam Limited360ONE360ONE	₹42,297 Cr	₹57,749 Cr	₹4,638 Cr	₹2,875 Cr	62.1%	₹1,262 Cr	27.9%	—	14.4%	—
Nuvama Wealth Management LimitedNUVAMANUVAMA	₹31,051 Cr	₹42,594 Cr	₹4,884 Cr	₹2,554 Cr	52.7%	₹1,083 Cr	22.5%	—	27.4%	—
Aditya Birla Sun Life Amc LimitedABSLAMCABSLAMC	₹28,680 Cr	₹28,680 Cr	₹1,861 Cr	₹1,096 Cr	59.9%	₹1,007 Cr	52.9%	—	25.1%	—
Angel One LimitedANGELONEANGELONE	₹25,280 Cr	₹33,159 Cr	₹5,426 Cr	₹2,028 Cr	35.4%	₹1,032 Cr	17.8%	—	15.6%	—
Anand Rathi Wealth LimitedANANDRATHIANANDRATHI	₹17,575 Cr	₹17,592 Cr	₹1,197 Cr	₹462 Cr	41.9%	₹465 Cr	34.6%	59.1%	47.4%	14

Date	Category	Subject	Filing
1 Oct 2026, 11:03 am	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
30 Sept 2026, 6:56 pm	Company Update Retirement	Announcement under Regulation 30 (LODR)-Retirement	PDF
21 Sept 2026, 7:36 pm	Company Update General	Intimation Of Schedule Of Analyst / Institutional Investors' Meet	PDF
18 Sept 2026, 4:11 pm	Company Update General	Intimation Of Environmental, Social, And Governance ('ESG') Rating For The Financial Year 2025-26	PDF
16 Sept 2026, 4:26 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
10 Sept 2026, 8:52 pm	Company Update General	Intimation Of Schedule Of Analyst / Institutional Investors' Meet	PDF
3 Sept 2026, 3:10 pm	Company Update General	Intimation Of Environmental, Social, And Governance ('ESG') Rating For The Financial Year 2025-26	PDF
2 Sept 2026, 6:26 pm	Company Update General	KFin Technologies Ltd - 543720 - Intimation Of Schedule Of Analyst / Institutional Investors'' Meet	PDF

Kfin Technologies Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain20

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Upcoming and recent1

Dividends3

Board meetings2

Announcements

Upcoming and recent1

Dividends3

Board meetings2

Ratio timeline

Announcements

Annual reports

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain20

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Domestic mutual fund investor solutions · revenue

3

20

1

3

2

1

3

2

3

20