| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 3.7 | 3.4 | +9.0% |
| EBITDA | 0.5 | 0.2 | +221.0% |
| EBITDA margin | 14.6% | 5.0% | +9.6 pts |
| Profit before tax | 0.6 | 0.2 | +142.2% |
| Net profit | 0.6 | 0.2 | +143.3% |
| EPS | ₹0.39 | ₹0.16 | +143.8% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 24.4 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 1.4 | 0.9 | 11.1 | 2.9 | 0.4 | ||
| 2.9 | 2.9 | 1.4 | 1.5 | 2.6 | ||
| 25.9 | — | — | — | — | ||
| 9.3 | 7.9 | 9.5 | 8.5 | 6.3 | ||
| — | −17.2% | +12.0% | +36.0% | — | ||
| −1.3 | −2.2 | −4.9 | 0.6 | 0.9 | ||
| −14.0% | −28.2% | −51.5% | 6.6% | 14.5% | ||
| −1.6 | −2.5 | −5.3 | 0.3 | 0.6 | ||
| −0.3 | −1.3 | −0.8 | 0.2 | 0.4 | ||
| −2.7% | −16.1% | −8.4% | 2.0% | 7.1% | ||
| −₹0.17 | −₹0.83 | −₹0.52 | ₹0.11 | ₹0.29 | ||
| — | −58.8% | −560.3% | −60.8% | — | ||
| — | −2.0 | 4.0 | −1.7 | −7.2 | ||
| — | −0.2 | 0.0 | 0.0 | −0.6 | ||
| −2.3 | −2.3 | 4.0 | −1.7 | −7.8 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 24.4 | |
| - Cash, Equiv & ST Investments | 0.4 | 2.9 | 11.1 | 0.9 | 1.4 | |
| + Total Debt | 2.6 | 1.5 | 1.4 | 2.9 | 2.9 | |
| Enterprise Value | — | — | — | — | 25.9 | |
| Revenue | 6.3 | 8.5 | 9.5 | 7.9 | 9.3 | |
| Growth %, YoY | — | +36.0 | +12.0 | -17.2 | — | |
| EBITDA | 0.9 | 0.6 | -4.9 | -2.2 | -1.3 | |
| Margin % | 14.47 | 6.63 | -51.51 | -28.22 | -14.01 | |
| EBIT | 0.6 | 0.3 | -5.3 | -2.5 | -1.6 | |
| Net Income | 0.4 | 0.2 | -0.8 | -1.3 | -0.3 | |
| Margin % | 7.07 | 2.04 | -8.39 | -16.10 | -2.70 | |
| EPS, Adj (current shares) | 0.29 | 0.11 | -0.52 | -0.83 | -0.17 | |
| Growth %, YoY | — | -60.8 | -560.3 | -58.8 | — | |
| Cash from Operations | -7.2 | -1.7 | 4.0 | -2.0 | — | |
| Capital Expenditures | -0.6 | -0.0 | -0.0 | -0.2 | — | |
| Free Cash Flow | -7.8 | -1.7 | 4.0 | -2.3 | -2.3 | |
Prices at the 30 October 2026 close · figures from the company's filings with NSE
Khandwala Securities (NSE: KHANDSE) had a market capitalisation of ₹24.4 crore at the 30 October 2026 close (₹15.99 a share) and a price-to-book ratio of 0.86. In FY26 its consolidated net loss was ₹1.3 crore on revenue of ₹7.9 crore; in Q2 FY27 (July–September 2026) it was ₹59 lakh, up 143.3% year on year. Its debt-to-equity ratio was 0.12 on 30 September 2026. Promoters held 48.84% of the shares on 30 September 2026.
Khandwala Securities' PE ratio is not meaningful at the 30 October 2026 close: its consolidated net profit over the last four quarters (Q3 FY26 to Q2 FY27) was a loss of ₹25 lakh, and a price-to-earnings ratio needs positive earnings. Its market capitalisation was ₹24.4 crore at ₹15.99 a share.
Khandwala Securities' price-to-book (PB) ratio is 0.86 at the 30 October 2026 close: a market capitalisation of ₹24.4 crore divided by shareholders' equity (book value) of ₹28.4 crore on 30 September 2026. That is a book value of ₹18.63 per share against a share price of ₹15.99.
In FY26, Khandwala Securities' return on equity (ROE) was −4.5% and its return on capital employed (ROCE) was −8.2%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was −2.7% and ROCE −17.0%.
Khandwala Securities' market capitalisation was ₹24.4 crore at the 30 October 2026 close: 1.53 crore shares at ₹15.99 each.
No. Khandwala Securities had borrowings of ₹3.5 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.12. Its cash and current investments were ₹3.9 crore, so it held net cash of ₹36 lakh.
Khandwala Securities' basic earnings per share (EPS) were −₹0.83 in FY26. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to −₹0.16.
Khandwala Securities' debt-to-equity ratio was 0.12 on 30 September 2026: borrowings of ₹3.5 crore against total equity of ₹28.4 crore. A year earlier, on 30 September 2025, it was 0.10.
Khandwala Securities' net worth — shareholders' equity in its consolidated balance sheet — was ₹28.4 crore on 30 September 2026, down 0.4% from ₹28.5 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹24.4 crore at the 30 October 2026 close.
In FY26 (April 2025–March 2026), Khandwala Securities' consolidated net loss was ₹1.3 crore, wider than the loss of ₹80 lakh in FY25, on revenue from operations of ₹7.9 crore (down 17.2%).
Khandwala Securities' book value per share was ₹18.63 on 30 September 2026: shareholders' equity of ₹28.4 crore divided by the 1.53 crore shares in issue, down 0.4% from ₹18.71 a year earlier. The share price at the 30 October 2026 close was ₹15.99.
Promoters held 48.84% of Khandwala Securities on 30 September 2026, up 0.06 percentage points from 48.78% the previous quarter and up 0.57 percentage points from 48.27% a year earlier, according to the shareholding pattern filed with NSE.
In FY26, Khandwala Securities generated ₹2 crore of cash from operations and spent ₹21 lakh on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹2.3 crore. In FY25 it was ₹4 crore.
On 30 September 2026, Khandwala Securities' shares were held by promoters 48.84% and retail and other non-institutional investors 51.16%.
Khandwala Securities' latest results are for Q2 FY27 (July–September 2026), filed on 27 October 2026: consolidated net profit ₹59 lakh, up 143.3% from ₹24 lakh in Q2 FY26; revenue from operations ₹3.7 crore, up 9.0% year on year.
Khandwala Securities has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
On FY26 consolidated figures, against Inventure Growth & Securities, Indbank Merchant Banking Services and Keynote Financial Services: Khandwala Securities' operating margin of −31.9% is the lowest of the four (Inventure Growth & Securities 6.6%, Indbank Merchant Banking Services 39.0%, Keynote Financial Services 26.7%; peer average 24.1%); its return on equity of −4.5% is the lowest of the four (Inventure Growth & Securities 0.0%, Indbank Merchant Banking Services 7.5%, Keynote Financial Services 4.7%; peer average 4.1%); its revenue growth over three years of 8.0% a year is the third highest of the four (Inventure Growth & Securities −1.1% a year, Indbank Merchant Banking Services 11.2% a year, Keynote Financial Services 23.6% a year; peer average 11.2% a year).
In FY26, Khandwala Securities earned net profit of ₹1.3 crore on revenue of ₹7.9 crore, against ₹3.8 crore on ₹47.2 crore for Inventure Growth & Securities. Khandwala Securities' operating margin was −31.9% (Inventure Growth & Securities 6.6%) and its return on equity −4.5% (Inventure Growth & Securities 0.0%). At the 30 October 2026 close, Khandwala Securities' market capitalisation was ₹24.4 crore against ₹86.1 crore for Inventure Growth & Securities.
From Khandwala Securities' own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 30 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.