KHANDSE
Khandwala Securities financials
- Market cap
- ₹26 Cr
- Sector
- Financial Services
What Khandwala Securities Limited does
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
Quarterly results
Q1 FY27: revenue up 99.1%, net profit up 113.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 3 | 1 | 1 | 3 +8% | 1 −61% | 2 +95% | 2 +99% |
| EBITDA | -4 | 0 | -1 | -1 | 0 +104% | -1 −488% | -1 +38% | -0 +88% |
| Net profit | 0 | 1 | -2 | -1 | 0 +0% | -0 −191% | -0 +79% | 0 +114% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −29.1% 1Y
1Y: ₹24.11 on 10 Sept 2025 → ₹17.1. High ₹24.56 (16 Sept 2025), low ₹12.5 (30 Mar 2026).
Financials, as filed
Revenue fell 3.7% a year over 2 years, FY24 to FY26. Operating margin narrowed to -28.4%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹9 Cr | ₹10 Cr | ₹8 Cr |
| Operating profit | ₹1 Cr | ₹-5 Cr | ₹-2 Cr |
| Operating margin | 6.7% | -51.6% | -28.4% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹0 Cr | ₹-1 Cr | ₹-1 Cr |
| Net margin | 2.1% | -8.3% | -16.2% |
| Cash from operations | ₹-2 Cr | ₹4 Cr | ₹-2 Cr |
| Free cash flow | ₹-2 Cr | ₹8 Cr | ₹-2 Cr |
| ROCE | 1.4% | -14.5% | -3.5% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹12 Cr | ₹15 Cr | ₹15 Cr | ₹15 Cr | ₹15 Cr |
| Reserves | ₹8 Cr | ₹8 Cr | ₹14 Cr | ₹14 Cr | ₹13 Cr | ₹12 Cr |
| Borrowings | ₹7 Cr | ₹6 Cr | ₹3 Cr | ₹2 Cr | ₹3 Cr | ₹3 Cr |
| Other liabilities | ₹14 Cr | ₹21 Cr | ₹11 Cr | ₹16 Cr | ₹20 Cr | ₹10 Cr |
| Total liabilities | ₹41 Cr | ₹47 Cr | ₹44 Cr | ₹48 Cr | ₹52 Cr | ₹41 Cr |
| Fixed assets | ₹8 Cr | ₹8 Cr | ₹8 Cr | ₹8 Cr | ₹4 Cr | ₹4 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹1 Cr | ₹1 Cr | ₹2 Cr | ₹3 Cr | ₹12 Cr | ₹1 Cr |
| Other assets | ₹32 Cr | ₹39 Cr | ₹33 Cr | ₹36 Cr | ₹35 Cr | ₹35 Cr |
| Total assets | ₹41 Cr | ₹47 Cr | ₹44 Cr | ₹48 Cr | ₹52 Cr | ₹41 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +0.51 pp while the public trimmed −0.51 pp.
- Promoters
- 48.8%
- Public
- 51.2%
Since Jun 2025
- Promoters +0.51 pp
- Public −0.51 pp
How it drifted, 12 quarters
Over this window the public fell from 52.3% to 51.2% — −1.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 47.8%, Public 52.3%.Dec '23: Promoters 47.8%, Public 52.2%.Mar '24: Promoters 47.8%, Public 52.2%.Jun '24: Promoters 48.0%, Public 52.0%.Sep '24: Promoters 48.0%, Public 52.0%.Dec '24: Promoters 48.1%, Public 51.9%.Mar '25: Promoters 48.3%, Public 51.8%.Jun '25: Promoters 48.3%, Public 51.7%.Sep '25: Promoters 48.3%, Public 51.7%.Dec '25: Promoters 48.3%, Public 51.7%.Mar '26: Promoters 48.7%, Public 51.3%.Jun '26: Promoters 48.8%, Public 51.2%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Paresh Jayantilal Khandwala +0.05 pp 1.82% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Khandwala Securities Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Jayantilal Khandwala & Sons Pvt. Ltd. | 11.36% | unchanged |
| Bentley Investments Pvt Ltd | 9.45% | unchanged |
| Daxa Paresh Khandwala | 8.62% | unchanged |
| Pratik Paresh Khandwala | 5.22% | unchanged |
| Poonam Balram Bharwani | 5.08% | unchanged |
| Pranav Paresh Khandwala | 4.65% | unchanged |
| Aumit Capital Advisors Limited | 3.69% | unchanged |
| Shuchi Darwin Patel | 2.57% | unchanged |
| Darwin Parshottam Patel | 2.50% | unchanged |
| Heta Chiraag Patel | 2.44% | unchanged |
| Piggero Investments Private Limited | 2.12% | unchanged |
| Tulsi Paresh Khandwala | 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.
Learn to analyse Khandwala Securities Limited
Guides on how to read this kind of business and the numbers that matter.