Keynote Financial Services Ltd

₹ 192 -3.91%

28 Feb - close price

keynoteindia.net BSE: 512597 NSE: KEYFINSERV

About

Incorporated in 1993, Keynote Financial Services Ltd is in the business of Investment banking, Corporate advisory, ESOP advisory, etc.^[1]

Key Points

Business Overview:^[1]
Company is a Category 1 Merchant Banker and a full service Investment Bank and Brokerage house offering financial services

Website BSE NSE

Market Cap ₹ 135 Cr.
Current Price ₹ 192
High / Low ₹ 403 / 128
Stock P/E 25.0
Book Value ₹ 107
Dividend Yield 0.52 %
ROCE 21.8 %
ROE 16.5 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Company has delivered good profit growth of 35.3% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 54.4%
Promoter holding has increased by 14.9% over last quarter.

Cons

Company has a low return on equity of 8.04% over last 3 years.
Debtor days have increased from 65.0 to 94.6 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Finance Industry: Finance & Investments

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	1.54	0.59	-0.08	2.66	2.90	0.44	4.80	3.48	7.13	9.27	5.31	3.57	0.46
	1.28	1.34	1.61	1.42	1.50	1.44	1.46	1.40	1.59	6.47	2.02	1.74	1.57
Operating Profit	0.26	-0.75	-1.69	1.24	1.40	-1.00	3.34	2.08	5.54	2.80	3.29	1.83	-1.11
OPM %	16.88%	-127.12%		46.62%	48.28%	-227.27%	69.58%	59.77%	77.70%	30.20%	61.96%	51.26%	-241.30%
	0.31	0.77	0.26	0.16	0.35	0.24	0.15	0.17	0.39	0.35	0.14	0.18	0.39
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.02
Depreciation	0.07	0.07	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.06	0.08	0.08
Profit before tax	0.50	-0.05	-1.48	1.35	1.70	-0.81	3.44	2.20	5.88	3.10	3.37	1.91	-0.82
Tax %	34.00%	-20.00%	-45.95%	-2.96%	2.94%	114.81%	25.58%	26.36%	24.66%	22.58%	28.49%	27.23%	-2.44%
	0.33	-0.04	-0.80	1.40	1.65	-1.74	2.56	1.62	4.44	2.39	2.41	1.39	-0.80
EPS in Rs	0.47	-0.06	-1.14	1.99	2.35	-2.48	3.65	2.31	6.33	3.41	3.43	1.98	-1.14
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	10.49	9.28	5.65	9.55	7.53	10.42	7.89	5.23	10.98	8.92	6.80	25.32	18.61
	5.76	6.17	4.49	4.69	4.85	5.48	5.85	5.66	4.12	5.29	6.11	10.91	11.80
Operating Profit	4.73	3.11	1.16	4.86	2.68	4.94	2.04	-0.43	6.86	3.63	0.69	14.41	6.81
OPM %	45.09%	33.51%	20.53%	50.89%	35.59%	47.41%	25.86%	-8.22%	62.48%	40.70%	10.15%	56.91%	36.59%
	0.15	0.13	0.05	0.43	0.11	-0.12	0.66	0.32	0.29	0.28	0.27	0.41	1.06
Interest	0.07	0.05	0.05	0.03	0.01	0.00	0.00	0.00	0.05	0.00	0.00	0.00	0.04
Depreciation	0.28	0.34	0.37	0.44	0.41	0.39	0.39	0.35	0.32	0.28	0.21	0.21	0.27
Profit before tax	4.53	2.85	0.79	4.82	2.37	4.43	2.31	-0.46	6.78	3.63	0.75	14.61	7.56
Tax %	24.28%	27.72%	34.18%	27.80%	19.83%	27.31%	-5.19%	-80.43%	31.86%	-0.83%	32.00%	24.71%
	3.43	2.06	0.52	3.48	1.89	3.23	2.43	-0.09	4.62	3.66	0.51	11.01	5.39
EPS in Rs	4.89	2.94	0.74	4.96	2.69	4.60	3.46	-0.13	6.58	5.21	0.73	15.69	7.68
Dividend Payout %	30.70%	34.08%	135.00%	20.17%	37.14%	54.33%	28.89%	-780.00%	15.19%	19.18%	137.65%	6.38%

Compounded Sales Growth
10 Years:	11%
5 Years:	26%
3 Years:	32%
TTM:	17%

Compounded Profit Growth
10 Years:	18%
5 Years:	35%
3 Years:	34%
TTM:	-22%

Stock Price CAGR
10 Years:	21%
5 Years:	39%
3 Years:	19%
1 Year:	14%

Return on Equity
10 Years:	6%
5 Years:	7%
3 Years:	8%
Last Year:	16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	7.02	7.02	7.02	7.02	7.02	7.02	7.02	7.02	7.02	7.02	7.02	7.02	7.02
Reserves	39.14	40.38	40.08	42.73	44.62	47.01	48.80	47.88	51.83	54.80	54.70	64.91	68.01
	0.31	0.47	0.33	0.17	0.08	0.00	0.05	0.04	0.03	0.03	0.04	0.03	0.71
	3.27	2.81	2.97	2.43	2.81	2.74	2.25	1.71	3.47	4.03	4.08	10.49	6.81
Total Liabilities	49.74	50.68	50.40	52.35	54.53	56.77	58.12	56.65	62.35	65.88	65.84	82.45	82.55
	10.58	10.58	10.07	9.65	9.30	8.94	8.59	8.25	7.97	7.76	7.66	7.48	0.04
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.22
Investments	20.00	23.28	28.32	37.82	31.20	44.52	42.60	33.09	37.60	52.51	48.53	65.01	69.45
	19.16	16.82	12.01	4.88	14.03	3.31	6.93	15.31	16.78	5.61	9.65	9.96	4.84
Total Assets	49.74	50.68	50.40	52.35	54.53	56.77	58.12	56.65	62.35	65.88	65.84	82.45	82.55

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	11.43	-1.57	-4.74	8.28	-7.70	12.02	-0.70	-1.08	5.74	-1.06	-4.15	8.46
	3.05	-2.15	-3.39	-7.00	9.15	-11.63	5.94	9.73	-15.88	2.32	4.57	-7.99
	-1.33	-1.12	-1.03	-0.94	-0.91	-0.85	-2.11	-0.85	-0.75	-0.71	-0.71	-0.71
Net Cash Flow	13.15	-4.84	-9.15	0.33	0.55	-0.47	3.13	7.80	-10.88	0.56	-0.28	-0.24

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	12.18	18.88	105.30	37.46	44.59	9.11	26.83	48.85	25.26	55.24	45.09	94.57
Inventory Days
Days Payable
Cash Conversion Cycle	12.18	18.88	105.30	37.46	44.59	9.11	26.83	48.85	25.26	55.24	45.09	94.57
Working Capital Days	46.28	178.96	552.35	82.94	500.72	14.36	-7.40	37.69	-16.95	-10.23	-12.88	7.35
ROCE %	10.13%	6.19%	2.06%	9.96%	4.68%	9.17%	4.20%	-0.83%	12.00%	6.03%	1.21%	21.85%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Feb 2025
	56.43%	56.42%	56.42%	56.42%	56.42%	56.42%	56.42%	56.42%	56.42%	57.01%	57.01%	71.88%
	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	9.26%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
	36.22%	36.22%	36.22%	36.22%	36.22%	36.23%	36.22%	36.22%	36.22%	35.64%	35.64%	18.85%
No. of Shareholders	3,787	3,739	3,653	3,580	3,572	3,760	3,881	4,060	3,941	4,455	4,639	4,948

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Feb 2025
	57.88%	57.88%	57.88%	57.88%	57.88%	57.88%	56.42%	56.42%	71.88%
	0.00%	8.00%	8.00%	8.00%	7.35%	7.35%	7.35%	7.35%	9.26%
	8.20%	0.20%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
	33.92%	33.92%	33.94%	34.12%	34.77%	34.77%	36.22%	36.22%	18.85%
No. of Shareholders	2,396	2,139	2,014	2,000	2,647	3,875	3,580	4,060	4,948

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Keynote Financial Services Ltd

Keynote Financial Services Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports