Khandwala Securities share price & results
- Sept 2026
- Sept 2026
Mumbai-based full-service broking and capital-markets firm spanning broking, institutional equity, investment banking, investment advisory, private wealth and portfolio management services.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3.7 | +9.1% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 14.8 | +9.8 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 0.59 | +145.8% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | -0.91 | +18.7 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -25.80 | −99.3 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 10.93 | −33.1 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Price
Performance −22.3% 1Y
1Y: ₹22.22 on 24 Oct 2025 → ₹17.27. High ₹23.5 (28 Oct 2025), low ₹12.5 (30 Mar 2026).
- Previous close
- ₹14.75
- Market cap
- ₹23 Cr
- 52-week range
- ₹12.5 – ₹23.5
- One year
- −26.04%
- Return on equity (TTM to Sept 2026)
- -0.91%
Overview
- Symbol
- NSE:KHANDSE
- Sector
- Financial Services
- Exchange
- NSE
- Currency
- INR
What Khandwala Securities Limited does
Based on the company's own presentations, annual report and earnings calls.
Khandwala Securities Limited (KSL) is a Mumbai-headquartered financial services firm whose core business is stock broking, alongside institutional equity, investment banking, investment advisory, private wealth and portfolio management services. It is laying the groundwork for adjacent businesses such as corporate advisory and distribution of financial products. Its equity shares are listed on the BSE and NSE, and it operates from offices in Mumbai and Pune.
Segments
- Broking
- Institutional Equity
- Investment Banking
- Investment Advisory
- Private Wealth
- Portfolio Management Services
- Corporate advisory
- Distribution of financial products
- Offices
- 3 (Registered & Corporate Office in Mumbai, Branch Office in Pune)
- Stock exchange memberships
- BSE, NSE
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +146% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3 | 1 | 1 | 3 | 1 | 2 | 2 | 4 |
| Expenses | 2 | 2 | 2 | 3 | 2 | 3 | 2 | 3 |
| Operating profit | 0 | -1 | -1 | 0 | -1 | -1 | -0 | 1 |
| Operating margin | 9.6% | −104.2% | −56.1% | 5.0% | −95.3% | −33.0% | −3.5% | 14.8% |
| Other income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | -1 | -1 | 0 | -0 | -0 | 0 | 1 |
| Tax rate | −1.9% | 105.0% | 0.0% | 0.0% | 0.0% | −2.2% | 0.0% | 0.0% |
| Net profit | 1 | -2 | -1 | 0 | -0 | -0 | 0 | 1 |
| EPS (₹ per share) | 0.35 | -1.34 | -0.39 | 0.16 | -0.32 | -0.29 | 0.05 | 0.39 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 9 | 10 | 8 |
| Expenses | 8 | 14 | 10 |
| Operating profit | 1 | -5 | -2 |
| Other income | 0 | 6 | 1 |
| Interest | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | -1 |
| Net profit | 0 | -1 | -1 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 15 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 14 | 14 | 14 | 13 | 12 | 13 |
| Borrowings | 3 | 2 | 2 | 3 | 3 | 4 |
| Other liabilities | 11 | 16 | 13 | 20 | 10 | 7 |
| Total liabilities | 44 | 48 | 43 | 52 | 41 | 39 |
| Fixed assets | 8 | 8 | 4 | 4 | 4 | 4 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 2 | 3 | 1 | 12 | 1 | 1 |
| Other assets | 33 | 36 | 38 | 35 | 35 | 33 |
| Total assets | 44 | 48 | 43 | 52 | 41 | 39 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -0 | 3 | -7 | -2 | 4 | -2 |
| Cash from investing | 0 | 1 | -2 | -1 | -4 | 1 |
| Cash from financing | -2 | -1 | 8 | -0 | 0 | -0 |
| Net cash flow | -2 | 3 | -0 | -3 | 0 | -2 |
| Free cash flow | -0 | 3 | -8 | -2 | 8 | -2 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 668 | 276 | 444 | 279 | 137 | 167 |
| Cash conversion cycle | 668 | 276 | 444 | 279 | 137 | 167 |
| Working capital days | -672 | -599 | 192 | -137 | -233 | -132 |
| Return on capital employed | −3.4% | 2.9% | 2.9% | 1.4% | −14.5% | −3.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Feebased Operations contributes 85.9% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Feebased Operations 85.9%
₹2.22 crore
- Other Unallocated Revenue 12.4%
₹0.32 crore
- Investment / Stock Operations 1.7%
₹0.04 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Feebased Operations | 2.22 | 85.9% |
| Other Unallocated Revenue | 0.32 | 12.4% |
| Investment / Stock Operations | 0.04 | 1.7% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹2.59 crore
- Intersegment adjustment
- ₹0.00 crore
- Net segment revenue
- ₹2.59 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Other Unallocated Revenue grew from 3% to 12% of revenue over the last two years.
| Segment | Sep 2023 | Dec 2023 | Jun 2024 | Sep 2024 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Feebased Operations | 96% | 96% | 85% | 38% | 84% | 57% | 82% | 86% | +102.9% |
| Other Unallocated Revenue | 3% | 2% | 2% | 61% | 12% | 39% | 16% | 12% | +107.6% |
| Investment / Stock Operations | — | — | — | 2% | 4% | 4% | 2% | 2% | -6.5% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
Ownership
Who owns it
Public hold 51.15% as of Sept 2026.
- Promoters 48.85%
- Public 51.15%
Who is on the register
Named in the Sep 2026 filing
Every holder of Khandwala Securities Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 11.36% | unchanged | |
| 9.45% | unchanged | |
| 8.62% | unchanged | |
| 5.22% | unchanged | |
| 5.08% | unchanged | |
| 4.65% | unchanged | |
| 3.69% | unchanged | |
| 2.57% | unchanged | |
| 2.50% | unchanged | |
| 2.44% | unchanged | |
| 2.14% | unchanged | |
| 2.02% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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