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Swing Capital

Keynote Financial Services Ltd

NSE: KEYFINSERV BSE: 512597Banking

Incorporated in 1993, Keynote Financial Services Ltd is in the business of Investment banking, Corporate advisory, ESOP advisory, etc.[1]

₹258
52W: ₹220 — ₹382
PE 42.8 · Book ₹136 · +90% vs book
Market Cap₹144 Cr
Stock P/E42.8Price to Earnings
ROCE3.51%Return on Capital
ROE5.12%Return on Equity
Div. Yield0.39%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 53.0%

Weaknesses

  • −Tax rate seems low
  • −Company has a low return on equity of 7.57% over last 3 years.
  • −Earnings include an other income of Rs.1.84 Cr.

Shareholding Pattern

Promoters71.87%
FIIs9.26%
DIIs0.01%
Public18.85%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters56.42%57.01%▲0.657.01%71.87%▲14.971.87%71.87%71.87%71.87%
FIIs7.35%7.35%7.35%9.26%▲1.99.28%▲0.09.26%▼0.09.26%9.26%
DIIs0%0%0%0.01%▲0.00.01%0.01%0.01%0.01%
Public36.22%35.64%▼0.635.64%18.86%▼16.818.83%▼0.018.87%▲0.018.86%▼0.018.85%▼0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales3.487.139.275.313.570.460.216.11-0.132.29
Expenses1.41.596.472.021.741.572.421.862.091.92
Operating Profit2.085.542.83.291.83-1.11-2.214.25-2.220.37
OPM %59.77%77.7%30.2%61.96%51.26%-241.3%-1052.38%69.56%0%16.16%
Net Profit1.624.442.392.411.39-0.80.743.67-1.180.16
EPS ₹2.316.333.413.431.98-1.141.336.59-2.120.29

AI Insights

Revenue Trend

TTM revenue at ₹8.48Cr, down 18% YoY. OPM at 2.24%.

Debt Position

Borrowings at ₹0.6Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Institutional Flow

DIIs: 0.01% (+0.01pp change). FIIs: 9.26% (+1.91pp change). Promoters hold 71.87%.

Margin & Efficiency

ROCE declining from 6.19% (Mar 2014) to 3.51% (Mar 2025). Working capital days: -20.83.

Valuation

PE 42.8x with 3.51% ROCE. Price is 90% above book value of ₹136. Dividend yield: 0.39%.

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