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Swing Capital

KFin Technologies Ltd

NSE: KFINTECH BSE: 543720Finance

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]

₹813
52W: ₹785 — ₹1388
PE 39.6 · Book ₹95.4 · +752% vs book
Market Cap₹14,041 Cr
Stock P/E39.6Price to Earnings
ROCE30.6%Return on Capital
ROE23.3%Return on Equity
Div. Yield0.93%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 48.7% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 24.4%
  • +Company has been maintaining a healthy dividend payout of 46.5%

Weaknesses

  • −Stock is trading at 8.35 times its book value
  • −Promoter holding has decreased over last 3 years: -26.6%
  • −Working capital days have increased from 62.1 days to 125 days

Shareholding Pattern

Promoters22.86%
FIIs26.26%
DIIs25.22%
Public25.66%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters33.06%33.04%▼0.032.96%▼0.132.91%▼0.122.9%▼10.022.89%▼0.022.87%▼0.022.86%▼0.0
FIIs22.8%24.61%▲1.825.4%▲0.822.56%▼2.827.81%▲5.325.53%▼2.326.16%▲0.626.26%▲0.1
DIIs21.47%20.61%▼0.919.42%▼1.220.37%▲0.923.71%▲3.324.81%▲1.124.88%▲0.125.22%▲0.3
Public22.67%21.74%▼0.922.22%▲0.524.15%▲1.925.59%▲1.426.76%▲1.226.11%▼0.725.66%▼0.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales211224230269282274264297313284
Expenses115126132146152158155167166164
Operating Profit969998123131117110130147120
OPM %45%44%43%46%46%43%42%44%47%42%
Net Profit66736885918176919485
EPS ₹3.864.253.964.975.34.734.425.295.454.93

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,159Cr, up 9.8% YoY. OPM at 44%.

Debt Position

Borrowings at ₹42Cr. Debt-to-equity ratio: 0.03x. Healthy balance sheet.

Capex Cycle

CWIP at ₹5Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 25.22% (+1.80pp change). FIIs: 26.26% (+18.18pp change). Promoters hold 22.86%.

Margin & Efficiency

ROCE improving from 0% (Mar 2018) to 31% (Mar 2026). Working capital days: 125.

Valuation

PE 39.6x with 30.6% ROCE. Price is 752% above book value of ₹95.4. Dividend yield: 0.93%.

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