KFin Technologies Ltd

KFin Technologies Ltd

₹ 740 -2.50%
16 May - close price
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.[1]

Key Points

Business Services[1]
1. Investor solutions - Account Setup, Transaction Origination, Redemption, Brokerage Calculations, Compliance / Regulatory Reporting Recordkeeping.
Domestic mutual funds, International, Pension services, Alternatives, and wealth management.
2. Issuer solutions: Folio Creation and Maintenance, Transaction Processing for IPO, FPO, etc. Corporate Action Processing, Compliance / Regulatory Reporting Recordkeeping MIS, Virtual Voting e-AGM, e-Vault
3. Global business Domestic mutual services: Mortgage Services Legal Services Transfer Agency Finance and Accounting.

  • Market Cap 12,657 Cr.
  • Current Price 740
  • High / Low 822 / 318
  • Stock P/E 51.4
  • Book Value 66.7
  • Dividend Yield 0.00 %
  • ROCE 30.3 %
  • ROE 24.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 94.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.1%

Cons

  • Stock is trading at 11.1 times its book value
  • Working capital days have increased from 55.4 days to 102 days

* 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.

Peer comparison

Sector: Financial Services Industry: Miscellaneous

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
168 181 169 180 188 183 182 209 219 228
94 97 106 109 107 99 112 116 121 125
Operating Profit 74 84 62 71 81 84 70 93 98 104
OPM % 44% 46% 37% 39% 43% 46% 39% 45% 45% 45%
2 1 3 2 6 6 5 6 6 7
Interest 26 3 3 3 3 3 3 3 1 1
Depreciation 9 10 11 11 13 11 12 13 13 15
Profit before tax 41 72 51 60 71 76 60 84 89 94
Tax % 27% 30% 27% 19% 25% 25% 28% 27% 25% 21%
30 51 37 48 53 57 43 61 67 74
EPS in Rs 1.78 3.04 2.23 2.86 3.19 3.37 2.55 3.61 3.92 4.36
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
162 450 481 640 720 838
97 291 269 352 422 473
Operating Profit 66 159 212 288 298 364
OPM % 40% 35% 44% 45% 41% 43%
2 5 5 6 17 25
Interest 20 53 52 53 11 8
Depreciation 34 92 98 37 47 53
Profit before tax 14 19 68 204 258 327
Tax % 35% 76% 196% 27% 24% 25%
9 5 -65 149 196 246
EPS in Rs 0.54 0.30 -4.28 8.87 11.57 14.39
Dividend Payout % 0% 0% 0% 0% 0% 40%
Compounded Sales Growth
10 Years: %
5 Years: 39%
3 Years: 20%
TTM: 16%
Compounded Profit Growth
10 Years: %
5 Years: 94%
3 Years: 80%
TTM: 26%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 118%
Return on Equity
10 Years: %
5 Years: 17%
3 Years: 26%
Last Year: 24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 166 151 151 168 169 171
Reserves 353 259 196 477 701 970
Preference Capital 0 0 0 123 0
435 413 383 37 160 49
68 46 194 345 220 229
Total Liabilities 1,022 868 923 1,026 1,250 1,419
732 691 630 669 691 801
CWIP 0 0 3 35 40 0
Investments 112 14 95 93 229 150
178 163 196 230 291 468
Total Assets 1,022 868 923 1,026 1,250 1,419

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
63 101 205 253 223 289
-816 94 -104 -115 -204 -178
775 -206 -89 -115 7 -127
Net Cash Flow 23 -11 11 22 27 -15

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 198 72 84 64 64 66
Inventory Days
Days Payable
Cash Conversion Cycle 198 72 84 64 64 66
Working Capital Days 42 24 53 29 34 102
ROCE % 8% 15% 34% 29%

Shareholding Pattern

Numbers in percentages

3 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
49.91% 49.42% 49.22% 49.12% 39.05% 38.97%
8.36% 8.04% 8.08% 9.22% 12.13% 16.73%
23.61% 23.55% 23.42% 22.05% 24.64% 20.98%
18.11% 18.98% 19.29% 19.61% 24.18% 23.31%
No. of Shareholders 91,61783,84378,77266,79989,50991,348

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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