| ₹ 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 |
|---|
| 24.5 | — | — | — | — | 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 | ||
| 26.0 | — | — | — | — | ||
| 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 | — | — | — | — | 24.5 | |
| - 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 | — | — | — | — | 26.0 | |
| 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 previous close · figures from the company's filings with NSE
Khandwala Securities (NSE: KHANDSE) had a market capitalisation of ₹24.5 crore at the previous close (₹16.05 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 previous 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 ₹24.5 crore at ₹16.05 a share.
Khandwala Securities' price-to-book (PB) ratio is 0.86 at the previous close: a market capitalisation of ₹24.5 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 ₹16.05.
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 ₹24.5 crore at the previous close: 1.53 crore shares at ₹16.05 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 ₹24.5 crore at the previous 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 previous close was ₹16.05.
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%).
From Khandwala Securities' own consolidated results, balance sheets and shareholding patterns filed with NSE. 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.