Keynote Financial Services Limited

NSE: KEYFINSERV · Stockbroking & Allied

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52W Range₹220 – ₹382

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Snapshot

Unlock Keynote Financial Services Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Keynote Financial Services Ltd is a Category 1 Merchant Banker providing comprehensive investment banking, corporate advisory, and ESOP advisory services. The company operates as a full-service investment bank and brokerage house.

Business Model

The company generates revenue through advisory fees for investment banking and corporate finance mandates, alongside brokerage commissions from its financial services operations.

Growth Outlook

Growth is driven by the expansion of corporate advisory mandates and the increasing demand for ESOP advisory services within the Indian capital markets.

Key Risks

  • Market Volatility. Fluctuations in equity markets directly impact brokerage volumes and the feasibility of investment banking transactions.
  • Regulatory Risk. As a Category 1 Merchant Banker, the company is subject to stringent SEBI regulations and compliance requirements that may change over time.
  • Economic Cyclicality. Corporate advisory and investment banking activities are highly sensitive to the broader economic environment and corporate capital expenditure cycles.
  • Competitive Pressure. The financial services sector in India is highly fragmented and competitive, which may exert pressure on fee structures and margins.

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Key Metrics

REVENUE

₹27 Cr

TTM · consolidated

-6.2%YoY

NET PROFIT

₹7 Cr

TTM · consolidated

-54.3%YoY

EPS

₹11.97

TTM · consolidated

-77.8%YoY

RETURN ON EQUITY

4.8%

TTM · consolidated

-6.6 ppYoY

P/E

20.4x

Q4 FY26 · consolidated

20.4 vs 40.9x5Y avg

EBITDA MARGIN

41.5%

TTM · consolidated

-5.0 ppYoY

NET PROFIT MARGIN

-13542.9%

Q4 FY26 · consolidated

-13970.1 ppYoY

Peers · Stockbroking & Allied

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Keynote Financial Services LimitedKEYFINSERV
₹136 Cr20.39—-6.2%41.5%4.8%-3.9%-2.0%
Emkay Global Financial Services LimitedEMKAY
₹734 Cr38.50—21.6%13.3%5.7%-1.2%-10.0%
Adit.Birla MoneyBIRLAMONEY
₹680 Cr11.75—9.6%49.0%20.2%52.7%-35.1%
Shardul Securities LimitedSHARDUL
₹479 Cr21.88—752.0%33.6%3.4%—+16.8%
Pune E - Stock Broking LimitedPESB
₹413 Cr———50.0%——+28.2%
Indo Thai Securities LimitedINDOTHAI
₹396 Cr6.43—217.6%83.5%29.6%1.1%-88.0%

As of Q4 FY26

Financials