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Kfin Technologies Ltd
NSE: KFINTECH Financial Services Cap Markets 🔎 Screen
NIFTY 500 Smallcap 50 Smallcap 100 Smallcap 250
₹14,598 Cr
Market Cap
9.73
P/B
30.5%
ROCE
22.9%
ROE
0.03
D/E
43.8%
Fin. Margin
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📈 Price History
Ratio Health
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About

KFin Technologies Limited is a leading technology-driven financial services platform. The company provides services and solutions to asset managers and corporate issuers across asset classes in India and provides several investor solutions including transaction origination and processing for mutual funds and private retirement schemes in Malaysia, the Philippines and Hong Kong.

✓ Strengths 3
  • Company is almost debt free.
  • Company has delivered good profit growth of 49.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 46.3%
! Concerns

No concerns data yet.

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Mixed quarter: solid 22.9% YoY revenue growth driven by international expansion, but EBITDA margin compressed 625bps and core PAT declined 1.0% YoY due to Ascent consolidation and equity market headwinds. quarter Investor Presentation One-Pager Mar 2026
Revenue
₹347.33 Cr
+22.9% YoY; core revenue growth excl. GBS at +24.7% YoY
EBITDA Margin
37.0%
Down 625bps YoY (43.2% in Q4FY25); margin excl. Ascent at 41.9%
PAT
₹81.15 Cr
Reported PAT -4.6% YoY; Core PAT (adj.) ₹84.17 Cr, -1.0% YoY
Diluted EPS
₹4.67
-4.8% YoY; FY26 EPS ₹19.81, +2.8% YoY
What Went Right
  • International & other investor solutions core revenue surged 161.1% YoY (incl. Ascent); non-domestic MF revenue share reached 38.6%.
  • Ascent Fund Services added 127 funds (incl. 6 with $100mn+ AUM) and won 9 GIFT city mandates; overall AUM up 381.5% YoY to $45.7bn.
  • NPS subscriber base grew 35.6% YoY vs. industry 11.7%, market share improved to 11.9% from 9.8%.
  • Issuer solutions market share in NSE 500 companies rose to 52.3% from 49.6% YoY; won 726 new corporate clients in Q4.
  • FY26 revenue grew 19.3% YoY, full-year international revenue (excl. GBS) up 103.4% YoY.
What to Watch
  • EBITDA margin fell 625bps YoY to 37.0% due to lower-margin Ascent consolidation and increased employee costs (+49.2% YoY).
  • Core PAT (adj.) declined 1.0% YoY to ₹84.17 Cr; reported PAT down 4.6% YoY.
  • Sequential revenue declined 6.3% QoQ, with issuer solutions dropping 33.6% QoQ and alternates/wealth down 22.7% QoQ.
  • Equity AAUM market share slipped to 32.1% from 33.1% YoY, while industry equity AAUM grew 21.5% vs. KFintech's 18.2%.
  • Domestic MF revenue grew only 8.3% YoY, below headline growth, reflecting mix shift and equity market weakness.
Management Guidance
  • Management expects Ascent integration synergies and margins to trend upward as integration matures.
  • No specific numeric FY27 revenue or margin guidance provided; qualitative focus on disciplined execution, international expansion, and operating leverage.
Investor Lens
KFintech’s thesis remains intact: diversified revenue streams and aggressive international push are driving top-line momentum (22.9% YoY), but the Ascent acquisition continues to depress consolidated margins (37.0% vs. standalone 41.9%). The core domestic mutual fund and NPS businesses are gaining market share, yet equity AAUM share erosion and QoQ revenue softness in issuer and alternates segments highlight vulnerability to market cycles. Investors should watch for margin recovery as Ascent integration matures, stabilization of equity market share, and the pace of high-quality international mandate wins (e.g. $100mn+ funds). Key next-quarter focus: any improvement in EBITDA margin trajectory and commentary on domestic equity flows.
From investor presentation · AI-generated analysis · Not investment advice
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📊 MIXED KFINTECH Q4: ₹81 Cr net profit, down 4.7% YoY
Revenue
KFINTECH's revenue grew 22.6% YoY to ₹347 Cr, but declined 6.5% QoQ. This indicates a strong yearly growth trend, albeit with some quarterly volatility.
Profitability
Net profit declined 4.7% YoY to ₹81 Cr, with EPS at ₹4.70. This is a decline from the previous year's EPS of ₹4.94.
Margins
Operating Profit Margin (OPM) stood at 37%, down from 43% in the same quarter last year and 41% in the previous quarter. This indicates a decline in profitability margins.
Cash Flow
No cash flow data is available for this quarter, making it difficult to assess the company's cash generation capabilities.
Balance Sheet
The company has a debt-to-equity ratio of 0.03, with borrowings of ₹55 Cr and reserves of ₹1,501 Cr, indicating a relatively healthy balance sheet.
Key Risks
Decline in net profit and margins are key risks. Additionally, the lack of cash flow data poses a risk in assessing the company's ability to generate cash.
Outlook
The company's strong yearly revenue growth trend is a positive indicator, but the decline in profitability margins and net profit is a concern. The company's ability to maintain its revenue growth while improving profitability will be crucial in the upcoming quarters.
Generated by AI · Mar 2026 results · Not investment advice
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