Khandwala Securities Limited (KHANDSE) AI Stock Analysis

• Market Cap: ₹341.23M
• Dividend Yield: N/A
• Average Volume (3M): 1.78K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.18
• Revenue Growth: -12.64%
• EPS Growth: -390.34%
• Country: IN
• Employees: 35
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 0.16
• Shares Outstanding: 15,253,805
• 10 Day Avg. Volume: 191
• 30 Day Avg. Volume: 1,782
• PEG Ratio: 0.07
• Price to Book (P/B): 1.14
• Price to Sales (P/S): 3.43
• P/FCF Ratio: 4.34
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: ₹23.50 ▲(7.31% Upside)

Khandwala Securities Limited's overall stock score is primarily impacted by its financial performance, which shows strong revenue growth but significant challenges in profitability and return on equity. Technical analysis suggests bearish momentum, and valuation metrics indicate a lack of profitability with no dividend yield. These factors collectively result in a moderate stock score.

Positive Factors

Revenue Growth

The strong revenue growth indicates a positive trajectory and expanding market presence, which is crucial for long-term business sustainability and competitiveness.

Gross Profit Margin

A high gross profit margin reflects effective cost management and pricing power, providing a buffer against operational challenges and supporting long-term profitability.

Balance Sheet Health

A stable balance sheet with low leverage enhances financial flexibility, allowing the company to invest in growth opportunities and weather economic downturns.

Negative Factors

Profitability Challenges

Ongoing profitability issues may hinder the company's ability to reinvest in its business and deliver shareholder value, posing a risk to long-term financial health.

Return on Equity

Negative return on equity indicates inefficiency in using shareholder capital to generate profits, which can impact investor confidence and future capital raising.

Operating Cash Flow Conversion

Low conversion of earnings into cash flow suggests potential liquidity issues, which could affect the company's ability to fund operations and growth initiatives.

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 faces challenges in profitability and return on equity. The balance sheet is stable with low leverage, and cash flow generation is improving, though there are concerns about the conversion of 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 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	81.78M	95.57M	85.27M	62.77M	61.11M	36.14M
Gross Profit	44.97M	60.15M	53.30M	38.10M	27.22M	9.13M
EBITDA	-4.40M	6.50M	6.91M	10.77M	10.21M	-7.33M
Net Income	-18.65M	-8.00M	1.74M	4.43M	1.19M	-16.51M
Balance Sheet
Total Assets	0.00	433.08M	476.06M	435.74M	472.68M	413.62M
Cash, Cash Equivalents and Short-Term Investments	0.00	116.68M	35.48M	65.20M	90.43M	64.33M
Total Debt	0.00	15.03M	15.48M	26.42M	64.63M	69.40M
Total Liabilities	-288.89M	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	-5.61M	5.04M	1.76M
Financing Cash Flow	0.00	2.85M	-914.08K	84.05M	-11.88M	-15.39M

Khandwala Securities Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 21.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 Neutral. The current price of 21.9 is below the 20-day moving average (MA) of 22.35, below the 50-day MA of 22.71, and below the 200-day MA of 23.63, indicating a neutral trend. The MACD of -0.22 indicates Negative momentum. The RSI at 51.74 is Neutral, neither overbought nor oversold. The STOCH value of 41.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:KHANDSE.

Khandwala Securities Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KEYFINSERV	75 Outperform	₹2.54B	10.48	―	0.35%	-57.76%	-68.83%
PRIMESECU	74 Outperform	₹10.22B	30.71	―	0.49%	34.10%	-15.20%
STEELCITY	68 Neutral	₹1.50B	8.80	―	4.25%	-8.60%	-9.89%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
KHANDSE	49 Neutral	₹341.23M	-18.37	―	―	-12.64%	-390.34%
INVENTURE	46 Neutral	₹1.53B	119.67	―	―	-53.21%	-78.00%