KFin Technologies Ltd
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.[1]
- Market Cap ₹ 16,080 Cr.
- Current Price ₹ 932
- High / Low ₹ 1,388 / 865
- Stock P/E 46.2
- Book Value ₹ 84.1
- Dividend Yield 0.80 %
- ROCE 33.6 %
- ROE 25.6 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 124% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.2%
- Company has been maintaining a healthy dividend payout of 26.6%
Cons
- Stock is trading at 11.1 times its book value
- Promoter holding has decreased over last 3 years: -27.0%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 159 | 441 | 472 | 625 | 696 | 811 | 1,056 | 1,149 | |
| 0 | 98 | 283 | 262 | 337 | 400 | 453 | 587 | 645 | |
| Operating Profit | -0 | 61 | 157 | 210 | 288 | 297 | 358 | 469 | 504 |
| OPM % | 38% | 36% | 44% | 46% | 43% | 44% | 44% | 44% | |
| 0 | 2 | 8 | 5 | 9 | 17 | 24 | 34 | 27 | |
| Interest | 0 | 19 | 53 | 52 | 53 | 11 | 8 | 5 | 4 |
| Depreciation | 0 | 30 | 92 | 98 | 36 | 43 | 49 | 59 | 65 |
| Profit before tax | -0 | 14 | 20 | 64 | 208 | 259 | 325 | 438 | 462 |
| Tax % | -36% | 37% | 70% | 204% | 26% | 24% | 25% | 26% | |
| -0 | 8 | 6 | -67 | 153 | 196 | 245 | 326 | 343 | |
| EPS in Rs | -70.00 | 0.51 | 0.39 | -4.46 | 9.13 | 11.60 | 14.35 | 18.92 | 19.89 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 40% | 40% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 19% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 124% |
| 3 Years: | 29% |
| TTM: | 10% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 47% |
| 1 Year: | -7% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 25% |
| Last Year: | 26% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 166 | 151 | 151 | 168 | 169 | 171 | 172 | 172 |
| Reserves | -0 | 353 | 258 | 193 | 478 | 702 | 971 | 1,228 | 1,279 |
| 0 | 389 | 343 | 346 | 158 | 159 | 48 | 45 | 44 | |
| 0 | 85 | 115 | 230 | 216 | 213 | 228 | 288 | 336 | |
| Total Liabilities | 0 | 993 | 868 | 919 | 1,019 | 1,244 | 1,417 | 1,733 | 1,832 |
| 0 | 696 | 682 | 621 | 629 | 651 | 714 | 747 | 775 | |
| CWIP | 0 | 0 | 0 | 3 | 35 | 40 | 36 | 31 | 10 |
| Investments | 0 | 126 | 29 | 110 | 147 | 290 | 225 | 535 | 545 |
| 0 | 171 | 156 | 186 | 209 | 263 | 443 | 421 | 502 | |
| Total Assets | 0 | 993 | 868 | 919 | 1,019 | 1,244 | 1,417 | 1,733 | 1,832 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 0 | 98 | 102 | 202 | 256 | 232 | 286 | 393 | |
| 0 | -864 | 98 | -106 | -125 | -214 | -172 | -323 | |
| 0 | 779 | -206 | -89 | -115 | 8 | -125 | -95 | |
| Net Cash Flow | 0 | 14 | -5 | 6 | 16 | 26 | -10 | -24 |
| Free Cash Flow | 0 | 93 | 95 | 172 | 190 | 167 | 207 | 308 |
| CFO/OP | 0% | 191% | 84% | 97% | 106% | 97% | 98% | 103% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 182 | 64 | 77 | 63 | 62 | 65 | 62 | |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 182 | 64 | 77 | 63 | 62 | 65 | 62 | |
| Working Capital Days | 40 | 16 | 5 | 22 | -37 | 31 | 30 | |
| ROCE % | 7% | 9% | 16% | 35% | 29% | 30% | 34% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Domestic Mutual Fund AAUM (Average Assets Under Management) ₹ billion |
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| AIF (Alternative Investment Fund) AAUM ₹ trillion |
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| Equity AAUM Market Share % |
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| Investor Folios Managed (MF) million |
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| NPS (National Pension System) Subscriber Base million |
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| Number of Issuer Solutions Clients units |
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| Overall Domestic MF AAUM Market Share % |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
1d - Of allotment of Equity Shares pursuant to exercise of options by the eligible grantees
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 12 Apr
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Amendments To The Code Of Practices And Procedures For Fair Disclosure Of Unpublished Price Sensitive Information
8 Apr - Board approved amendments to fair disclosure code under SEBI PIT Regulations.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Certificate received from Bigshare Services Private Limited for the quarter ended March 31, 2026
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Grant Of Perpetual Certificate Of Registration To Act As Central Recordkeeping Agency Under The National Pension System Architecture
2 Apr - PFRDA granted perpetual CRA registration to KFin on April 1, 2026.
Annual reports
Concalls
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Feb 2026TranscriptPPT
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Jul 2025Transcript PPT REC
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May 2025Transcript PPT
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Apr 2025Transcript PPT REC
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Jan 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Oct 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
Business Profile[1]
KFin Technologies Limited is a leading tech-driven financial services platform catering to the capital markets ecosystem in India and globally.