Khandwala Securities Limited (KHANDSE) AI Stock Analysis

• Market Cap: ₹372.65M
• Dividend Yield: N/A
• Average Volume (3M): 21.87K
• Price to Earnings (P/E): 39.5
• Beta (1Y): 1.13
• Revenue Growth: -1.73%
• EPS Growth: -463.95%
• Country: IN
• Employees: 35
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): -0.38
• Shares Outstanding: 15,253,805
• 10 Day Avg. Volume: 774
• 30 Day Avg. Volume: 21,868
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹24.50
• Price Target Upside: 0.29% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 49 Neutral
• Price Target: ₹24.50 ▲(0.29% Upside)

Khandwala Securities Limited's overall stock score is primarily impacted by its financial performance, which shows strong revenue growth but significant profitability challenges. Technical analysis indicates a neutral trend with some bearish momentum. The valuation is weak due to a negative P/E ratio and lack of dividend yield. The absence of earnings call data and corporate events did not affect the score.

Khandwala Securities Limited Business Overview & Revenue Model

Company Description

Khandwala Securities Limited (KHANDSE) is a prominent financial services company based in India, primarily engaged in the business of stock broking and investment advisory services. The company operates in the securities market, offering a wide range of products including equity trading, derivatives, and mutual funds. Khandwala Securities is committed to providing innovative financial solutions to individual and institutional investors, facilitating access to capital markets and enabling wealth creation through strategic investment opportunities.

How the Company Makes Money

Khandwala Securities Limited generates revenue primarily through brokerage fees earned from executing trades on behalf of its clients in equities, derivatives, and other financial instruments. Additional revenue streams include advisory fees from investment consultancy services, commissions from the sale of mutual funds, and income from proprietary trading activities. The company may also earn interest income from margin financing provided to clients. Strategic partnerships with financial institutions and technology providers enhance its service offerings and contribute to its revenue generation, allowing Khandwala Securities to capitalize on market demand for comprehensive investment solutions.

Khandwala Securities Limited Financial Statement Overview

Summary

Khandwala Securities Limited shows strong revenue growth and a solid gross profit margin, but struggles with profitability and return on equity. The balance sheet is stable with low leverage, and cash flow generation is improving, though there are concerns about converting earnings into cash.

Income Statement

Khandwala Securities Limited has shown significant revenue growth of 34.02% in the latest year, indicating a positive trajectory. However, the company is struggling with profitability, as evidenced by a negative net profit margin of -5.29% and declining EBIT and EBITDA margins. The gross profit margin remains strong at 96.10%, suggesting efficient cost management at the gross level, but the company needs to address its operating and net profit challenges to improve overall financial health.

Balance Sheet

The balance sheet of Khandwala Securities Limited is relatively stable, with a low debt-to-equity ratio of 0.049, indicating conservative leverage. However, the return on equity is negative at -2.77%, reflecting the company's challenges in generating returns for shareholders. The equity ratio stands at a healthy level, suggesting a strong capital base.

Cash Flow

The cash flow statement reveals a strong free cash flow to net income ratio of 1.88, indicating good cash generation relative to net income. The company has also shown significant free cash flow growth, but the operating cash flow to net income ratio is relatively low at 0.32, suggesting potential issues in converting earnings into cash flow.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	99.36M	151.30M	85.27M	62.64M	61.11M	36.14M
Gross Profit	145.39M	145.39M	53.78M	36.99M	27.22M	9.13M
EBITDA	-41.40M	5.68M	6.91M	8.47M	3.88M	-7.33M
Net Income	-8.00M	-8.00M	1.74M	4.43M	1.19M	-16.51M
Balance Sheet
Total Assets	433.08M	433.08M	476.06M	435.75M	472.68M	413.62M
Cash, Cash Equivalents and Short-Term Investments	116.68M	116.68M	35.48M	65.20M	90.43M	64.33M
Total Debt	14.16M	14.16M	15.48M	26.09M	64.63M	69.40M
Total Liabilities	144.18M	144.18M	179.24M	140.82M	271.66M	214.11M
Stockholders Equity	288.89M	288.89M	296.81M	294.92M	201.02M	199.51M
Cash Flow
Free Cash Flow	0.00	75.67M	-21.01M	-78.61M	32.73M	-3.36M
Operating Cash Flow	0.00	40.24M	-17.42M	-72.69M	33.03M	-2.06M
Investing Cash Flow	0.00	-39.36M	-11.72M	-4.02M	5.04M	1.76M
Financing Cash Flow	0.00	2.85M	-914.08K	47.92M	-11.88M	-15.39M

Khandwala Securities Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 24.43
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KHANDSE, the sentiment is Positive. The current price of 24.43 is below the 20-day moving average (MA) of 24.50, below the 50-day MA of 24.61, and below the 200-day MA of 25.19, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 49.73 is Neutral, neither overbought nor oversold. The STOCH value of 30.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KHANDSE.

Khandwala Securities Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STEELCITY	73 Outperform	₹1.59B	9.35		3.80%	3.26%	21.80%
PRIMESECU	69 Neutral	₹8.88B	24.19		0.57%	46.98%	41.14%
Sector *	68 Neutral	$17.80B	11.87	10.23%	3.74%	9.69%	1.18%
KEYFINSERV	68 Neutral	₹1.76B	7.25		0.40%	-31.36%	-30.18%
INVENTURE	51 Neutral	₹1.67B	116.06		―	-56.39%	-93.24%
KHANDSE	49 Neutral	₹372.65M	39.52		―	-1.73%	-463.95%
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