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KFin Technologies

KFINTECH NSE
₹896.80 +35.20 (+4.09%)
P/E
45.29
View as Markdown
MCP
Close 4 Nov 2026 ₹896.80 −165.30 −15.6% 1Y
Start ₹1,062.10

Key Fundamentals

SmallcapCapital MarketsFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
29.20%
Debt to Equity
0.03
EPS (TTM)
₹19.80
Book Value
₹93.94
Market Cap
—
P/E (TTM)
45.29
P/B
9.55
ROE
21.60%
Dividend Yield
1.39%
EBITDA
₹572 Cr
52W High
₹1,126.40
52W Low
₹784.00
Day Range
₹859.00 – ₹911.60
Volume
23,04,403

Peer Comparison

Financial Services › Capital Markets › RTA › Depositories, Clearing Houses and Other Intermediaries

KFin Technologies peer comparison
CDSL
₹1,323.8058.71₹27,446 Cr13.950.97%24.50%32.00%₹1,179 Cr₹471 Cr
CAMS
₹695.2537.97₹17,203 Cr11.990.84%37.00%48.30%₹1,431 Cr₹454 Cr
KFin Technologies (this company)
₹896.8045.29₹15,596 Cr9.551.39%21.60%29.20%₹1,384 Cr₹341 Cr
National Securities Depository
₹748.6038.55₹14,730 Cr5.960.55%16.00%22.10%₹1,735 Cr₹388 Cr
Beacon Trusteeship
₹85.50—₹155 Cr2.990.00%14.50%19.80%——
Median 5 companies₹748.6041.92₹15,596 Cr9.550.84%21.60%29.20%₹1,408 Cr₹421 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

53 Average

Data confidence 100/100

Category scores

Quality
66
Strong
Returns, margins, earnings quality 22% weight
Valuation
33
Poor
Cheap vs sector & own history 24% weight
Growth
73
Strong
Sales & profit trajectory 9% weight
Financial Health
76
Strong
Solvency, leverage, coverage 9% weight
Momentum
45
Average
Trend strength, vol-adjusted 12% weight
Ownership
55
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has delivered good profit growth of 48.3% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 46.3%

Weaknesses

2
  • Stock is trading at 8.93 times its book value
  • Promoter holding has decreased over last 3 years: -26.3%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish559
OscillatorsNeutral252
Moving AveragesStrong Bullish307

Key readings

RSI (14)
56.74
Neutral
MACD (12,26,9)
−5.04
Bullish
SMA (50)
889.59
Bullish
SMA (200)
915.72
Bearish

As of

Analyst Rating

Based on 16 analysts
BUY88%

14 of 16 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
14
88%
HOLD
2
13%
SELL
0
0%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+22.02%
3Y+21.80%
1Y+19.25%
TTM+22.80%

Net profit

Net profit growth by window
5YTurned to profit
3Y+20.62%
1Y+3.30%
TTM0.00%

Operating cash flow

Operating cash flow growth by window
5Y+12.54%
3Y+18.39%
1Y−7.27%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y−3.33 pp
3Y−0.65 pp
1Y−3.16 pp
TTM−4.96 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹162 Cr
Mar 2020₹450 Cr
Mar 2021₹481 Cr
Mar 2022₹640 Cr
Mar 2023₹720 Cr
Mar 2024₹838 Cr
Mar 2025₹1,091 Cr
Mar 2026₹1,301 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019₹9.00 Cr
Mar 2020₹5.00 Cr
Mar 2021−₹65.00 Cr
Mar 2022₹149 Cr
Mar 2023₹196 Cr
Mar 2024₹246 Cr
Mar 2025₹333 Cr
Mar 2026₹344 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹174 Cr +2.8% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk medium

KFin Technologies Ltd trades at ₹896.8 as of 2026-11-04 with a market capitalisation of ₹15,595.65 crore. The company carries virtually no debt (debt-to-equity of 0.03) and has compounded profit growth of 48% over five years, but trades at a trailing P/E of 45.29x and 9.55x book value, while the stock has declined 19% over the past year from its 52-week high of ₹1,126.4.

Bull Case 7
  • The company is almost debt-free with a debt-to-equity ratio of just 0.03, providing significant financial flexibility and low interest-rate risk.
  • Five-year compounded profit growth stands at 48% CAGR, reflecting strong earnings expansion over a meaningful period.
  • Revenue growth has been consistent at 22% CAGR over both 3-year and 5-year periods, and TTM sales growth of 23% shows no deceleration.
  • Return on equity has averaged 23-24% over 3 and 5-year periods respectively, with the last year at 22% and current ROE at 20.54%, indicating sustained high capital efficiency.
  • The company maintains a healthy dividend payout ratio of 46.3% with a current dividend yield of 1.39%, unusual for a growth-stage capital markets company.
  • ROCE of 18.89% alongside minimal debt suggests the business generates strong returns on its own capital without leveraging up.
  • At ₹896.8, the stock trades roughly 20% below its 52-week high of ₹1,126.4, potentially offering a more palatable entry valuation compared to recent peaks.
Bear Case 6
  • The trailing P/E of 45.29x is elevated, demanding sustained high growth to justify the premium — yet TTM profit growth has decelerated sharply to just 3%.
  • Promoter holding has declined by 26.3% over the last three years, which may signal reduced insider confidence or dilution-related overhang.
  • TTM profit growth of only 3% represents a dramatic slowdown from the 19% three-year CAGR and 48% five-year CAGR, raising questions about whether peak growth is behind the company.
  • The stock has delivered a negative 1-year return of -19%, underperforming broader indices and indicating weakening market sentiment.
  • As a capital markets infrastructure company, KFin Technologies' revenue is inherently tied to equity market activity levels; a prolonged market downturn could compress both volumes and fees.
  • The gap between the 3-year stock CAGR of 23% and the current 1-year decline of -19% suggests the stock may have re-rated downward after a period of multiple expansion.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: KFin Technologies delivered a strong Q2FY27 with 33% sequential profit growth, margin expansion to 40%, and explosive international growth at 158% YoY. The operational leverage story and international diversification are clearly working, and with a $47 million international pipeline and new Thailand licence, growth visibility remains solid heading into H2FY27.

Headwinds 4
  • Stock down 26% over past year Oct 26

    KFin Technologies shares remain 28% below their 52-week high of ₹1,217.20 hit in October 2025, having declined 26% over the past year and 19% year-to-date in 2026.

  • Employee costs surge 43% YoY Oct 26

    Total operating expenses grew 39% YoY to ₹2.4 billion in Q2FY27, driven by employee expenses jumping 43% YoY to ₹1.6 billion and other expenses rising 31% YoY to ₹778 million.

  • Ascent AAUM growth slowing Oct 26

    Ascent's AAUM growth decelerated to 4.7% QoQ in Q2FY27 versus 10.7% in the prior quarter, signaling a slowdown in that segment.

Positives 6
  • Q2 profit surges 33% sequentially Oct 26

    Net profit jumped 33.4% QoQ to ₹100.3 crore while revenue rose 12.5% QoQ to ₹402 crore, with EBITDA margin expanding sharply to 40.1% from 34.2%.

  • International revenue up 158% YoY Oct 26

    International and other investor solutions revenue grew 157.9% YoY in H1FY27, with international AUM rising to $51.9 billion from $10.6 billion and the client base reaching 515 clients.

  • Thailand subsidiary gets licence Oct 26

    KFin's Thai subsidiary received a Foreign Business Licence from Thailand's Ministry of Commerce on October 27, enabling permitted business operations in the country.

Neutral 2
  • New Group CISO appointed Oct 16

    KFin Technologies appointed Srinivas Yadav Karri as Group Chief Information Security Officer effective October 16, 2026, to centralize cyber risk oversight.

  • Q2FY27 earnings call hosted Oct 7

    KFin Technologies held an earnings conference call on October 27, 2026, to discuss Q2FY27 results with CEO Sreekanth Nadella and management team participating.

Quarterly Results

₹ Cr
KFINTECH quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
182
209
219
228
238
280
290
283
274
309
371
347
357
402
Expenses
112
116
121
125
138
154
159
160
160
174
219
219
235
241
Operating Profit
70
93
98
104
100
127
131
122
114
136
152
128
122
161
OPM %
39%
45%
45%
45%
42%
45%
45%
43%
41%
44%
41%
37%
34%
40%
Other Income
5
6
6
7
8
11
9
10
10
11
−2
11
10
—
Interest
3
3
1
1
1
1
1
1
1
1
1
1
1
2
Depreciation
12
13
13
15
15
17
16
17
18
18
23
27
27
28
PBT
60
84
89.76
94
92
119
122
114
105
127
125
111
103
139
Tax %
28%
27%
25%
21%
26%
25%
26%
26%
26%
26%
27%
27%
27%
28%
Net Profit
43
61
67
74
68
89
90
85
77
93
92
81
75
100
EPS (₹)
2.55
3.61
3.92
4.36
3.97
5.21
5.25
4.94
4.49
5.42
5.33
4.7
4.35
—

Sep 2026: from the results filed on 26 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
KFINTECH profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
162
450
481
640
720
838
1,091
1,301
1,384
Expenses
97
291
269
352
422
473
612
772
847
Operating Profit
66
159
212
288
298
364
479
530
537
OPM %
40%
35%
44%
45%
41%
43%
44%
41%
39%
Other Income
2
5
5
6
17
25
38
30
30
Interest
20
53
52
53
11
9
5
5
5
Depreciation
34
92
98
37
47
53
64
86
96
PBT
14
19
68
204
258
327
448
468
466
Tax %
35%
76%
196%
27%
24%
25%
26%
27%
—
Net Profit
9
5
−65
149
196
246
333
344
342
EPS (₹)
0.54
0.3
−4.28
8.87
11.57
14.39
19.33
19.92
19.8
Div. Payout %
0%
0%
0%
0%
0%
40%
39%
60%
—

Balance Sheet

₹ Cr
KFINTECH balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
166
151
151
168
169
171
172
173
Reserves
353
259
196
477
701
970
1,236
1,501
Borrowings
435
413
383
160
160
49
47
55
Other Liabilities
68
46
194
222
220
229
296
1,041
Total Liabilities
1,022
868
923
1,026
1,250
1,418
1,750
2,770
Fixed Assets
732
691
630
669
691
764
803
1,773
CWIP
0
0
3
35
40
37
29
65
Investments
112
14
95
93
229
150
462
239
Other Assets
178
163
196
230
291
467
456
691
Total Assets
1,022
868
923
1,026
1,250
1,418
1,750
2,770

Cash Flow

₹ Cr
KFINTECH cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
63
101
205
253
223
289
399
370
Investing
−816
94
−104
−115
−204
−178
−329
−199
Financing
775
−206
−89
−115
7
−127
−95
−134
Net Cash Flow
23
−11
11
22
27
−15
−25
36
Free Cash Flow
58
94
175
185
154
204
313
259
CFO/OP
124
83
98
105
94
97
103
90

Ratios

KFINTECH financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
198
72
84
64
64
66
64
76
Cash Conversion Cycle
198
72
84
64
64
66
64
76
Working Capital Days
−13
16
5
22
−34
34
31
49
ROCE %
—
8%
15%
34%
29%
30%
33%
29%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view KFin Technologies insights

56 extracted metrics across FY19–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 37.55%
  • FIIs 20.07%
  • Public 14.30%
  • Promoters 14.06%
  • Others 14.02%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about KFin Technologies

What does KFin Technologies Ltd do?
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…
Where is KFin Technologies Ltd (KFINTECH) listed?
KFin Technologies Ltd trades as KFINTECH on the NSE and under code 543720 on the BSE.
Which sector does KFin Technologies Ltd belong to?
KFin Technologies Ltd is classified under the Capital Markets sector, in the RTA industry.
What is the PE ratio of KFin Technologies Ltd?
KFin Technologies Ltd trades at a PE ratio of 45.29 as of 4 Nov 2026, on earnings per share of ₹19.8, against a book value of ₹93.94 per share.
What is the 52-week high and low of KFin Technologies Ltd?
Over the last 52 weeks KFin Technologies Ltd has traded between ₹784 and ₹1,126.4 as of 4 Nov 2026.
Does KFin Technologies Ltd pay dividends?
KFin Technologies Ltd has a dividend yield of 1.39%.
What is the Return on Equity (ROE) of KFin Technologies Ltd?
KFin Technologies Ltd reported a return on equity of 21.60%. Its debt-to-equity ratio is 0.03.

Company Information

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.

Website kfintech.com
Listed 29 Dec 2022
Face Value ₹10

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