WEBSITE BSE:512597 NSE: KEYFINSERV Inc. Year: 1993 Industry: Finance - Investment My Bucket: Add Stock
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Keynote Financial Services Limited is a distinguished investment bank established in 1993, offering a comprehensive suite of financial services. As a Category 1 Merchant Banker, Keynote has carved a niche in equity markets with over two decades of experience and a robust track record of over 400 transactions. Company prides itself on its deep-rooted relationships with mid-market business groups and extensive connections with domestic and global institutions investing in India. Service portfolio encompasses of equity capital markets, corporate f...Read More
Keynote Financial Services Limited is a distinguished investment bank established in 1993, offering a comprehensive suite of financial services. As a Category 1 Merchant Banker, Keynote has carved a niche in equity markets with over two decades of experience and a robust track record of over 400 transactions. Company prides itself on its deep-rooted relationships with mid-market business groups and extensive connections with domestic and global institutions investing in India. Service portfolio encompasses of equity capital markets, corporate finance advisory, mergers and acquisitions advisory, ESOP advisory, equity/debt placements, and restructuring. ...Read Less
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Market Cap ₹154 Cr.
Stock P/E 14.3
P/B 1
Current Price ₹276.9
Book Value ₹ 278.9
Face Value 10
52W High ₹377.5
Dividend Yield 0.36%
52W Low ₹ 221.9
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 9 | 14 | 14 | 12 | 11 | 7 | -2 | 16 | -2 | 12 |
| Other Income | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Total Income | 9 | 15 | 14 | 13 | 12 | 7 | -1 | 17 | -0 | 13 |
| Total Expenditure | 3 | 3 | 4 | 4 | 4 | 3 | 7 | 4 | 4 | 4 |
| Operating Profit | 6 | 11 | 10 | 9 | 8 | 4 | -8 | 13 | -5 | 9 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 6 | 11 | 10 | 9 | 8 | 4 | -9 | 12 | -5 | 8 |
| Provision for Tax | 2 | 2 | 2 | 3 | 2 | 1 | -5 | 5 | -3 | 2 |
| Profit After Tax | 5 | 9 | 8 | 6 | 6 | 3 | -4 | 7 | -2 | 6 |
| Adjustments | 1 | 1 | -4 | 2 | 3 | 3 | -3 | 5 | 1 | -1 |
| Profit After Adjustments | 5 | 10 | 4 | 8 | 9 | 6 | -8 | 13 | -1 | 4 |
| Adjusted Earnings Per Share | 9.9 | 17.6 | 7.8 | 14.2 | 15.7 | 10.1 | -13.8 | 22.6 | -1.6 | 8.1 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 12 | 18 | 12 | 15 | 13 | 9 | 20 | 29 | 14 | 47 | 28 | 24 |
| Other Income | 4 | 6 | 13 | 5 | 2 | 3 | 3 | 3 | 2 | 2 | 2 | 4 |
| Total Income | 16 | 23 | 25 | 20 | 15 | 12 | 23 | 32 | 16 | 50 | 31 | 29 |
| Total Expenditure | 9 | 13 | 10 | 10 | 14 | 14 | 8 | 11 | 16 | 13 | 18 | 19 |
| Operating Profit | 7 | 10 | 14 | 10 | 1 | -2 | 15 | 21 | 1 | 37 | 13 | 9 |
| Interest Expense | 4 | 3 | 3 | 2 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 1 |
| Depreciation | 1 | 1 | 4 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Profit Before Tax | 3 | 6 | 7 | 7 | -1 | -4 | 13 | 19 | -0 | 35 | 12 | 6 |
| Provision for Tax | 1 | 2 | 2 | 2 | 0 | -0 | 2 | 3 | 2 | 8 | 1 | -1 |
| Profit After Tax | 2 | 5 | 6 | 6 | -1 | -4 | 11 | 16 | -2 | 28 | 11 | 7 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 4 | 2 |
| Profit After Adjustments | 2 | 5 | 6 | 6 | -1 | -4 | 11 | 16 | -2 | 27 | 15 | 8 |
| Adjusted Earnings Per Share | 3 | 8.1 | 10.4 | 10.3 | -1.9 | -7.6 | 20.3 | 28.9 | -2.9 | 48.1 | 26.2 | 15.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -40% | -1% | 25% | 9% |
| Operating Profit CAGR | -65% | -15% | 0% | 6% |
| PAT CAGR | -61% | -12% | 0% | 19% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -23% | 41% | 36% | 22% |
| ROE Average | 8% | 10% | 13% | 7% |
| ROCE Average | 9% | 14% | 14% | 10% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 63 | 66 | 72 | 77 | 78 | 73 | 86 | 101 | 98 | 124 | 138 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 |
| Current Liability | 34 | 33 | 77 | 26 | 26 | 43 | 33 | 35 | 7 | 8 | 9 |
| Other Liabilities & Provisions | 2 | 8 | 13 | 13 | 4 | 4 | 4 | 5 | 5 | 9 | 5 |
| Total Liabilities | 100 | 108 | 162 | 116 | 110 | 121 | 123 | 141 | 111 | 141 | 152 |
| Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7 | 2 |
| Investments | 2 | 4 | 17 | 14 | 10 | 5 | 5 | 4 | 16 | 3 | 10 |
| Fixed Assets | 23 | 23 | 19 | 18 | 18 | 17 | 17 | 16 | 17 | 17 | 18 |
| Other Loans | 6 | 11 | 20 | 20 | 12 | 5 | 1 | 0 | 1 | 11 | 12 |
| Other Non Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Assets | 68 | 70 | 106 | 65 | 70 | 93 | 100 | 120 | 77 | 102 | 110 |
| Total Assets | 100 | 108 | 162 | 116 | 110 | 121 | 123 | 141 | 111 | 141 | 152 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 12 | 2 | 11 | 3 | 5 | 7 | 24 | 2 | 11 | 3 | 2 |
| Cash Flow from Operating Activities | -4 | 17 | -12 | 5 | -4 | 16 | -9 | -13 | 21 | 6 | 7 |
| Cash Flow from Investing Activities | -3 | -7 | 7 | -1 | 5 | 1 | -16 | 22 | -3 | -4 | -6 |
| Cash Flow from Financing Activities | -3 | -1 | -4 | -3 | 1 | -0 | 4 | -0 | -26 | -3 | -0 |
| Net Cash Inflow / Outflow | -10 | 9 | -8 | 2 | 2 | 17 | -21 | 9 | -8 | -1 | 1 |
| Closing Cash & Cash Equivalent | 2 | 11 | 3 | 5 | 7 | 24 | 2 | 11 | 3 | 2 | 2 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 3.04 | 8.09 | 10.36 | 10.26 | -1.91 | -7.59 | 20.25 | 28.89 | -2.93 | 48.12 | 26.17 |
| CEPS(Rs) | 4.38 | 9.78 | 18.2 | 11.54 | -0.53 | -6.22 | 21.56 | 30.14 | -1.94 | 51.34 | 20.95 |
| DPS(Rs) | 1 | 1 | 1 | 2.5 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Book NAV/Share(Rs) | 112.34 | 119.19 | 129.55 | 138.55 | 140.43 | 131.62 | 152.61 | 180.63 | 176.26 | 223.27 | 248.6 |
| Net Profit Margin | 13.55 | 25.39 | 48.71 | 37.48 | -8.13 | -46.03 | 55.96 | 55.93 | -12.15 | 58.75 | 37.95 |
| Operating Margin | 48.5 | 51.38 | 85.59 | 59.92 | 1.84 | -34.24 | 71.34 | 69.04 | 1.44 | 75.6 | 43.37 |
| PBT Margin | 20.33 | 36.6 | 62.97 | 47.69 | -6.8 | -47.52 | 65.92 | 64.93 | -0.37 | 74.99 | 40.8 |
| ROA(%) | 1.46 | 4.34 | 4.27 | 4.1 | -0.94 | -3.66 | 9.22 | 12.18 | -1.36 | 22.12 | 7.33 |
| ROE(%) | 2.73 | 6.99 | 8.33 | 7.66 | -1.37 | -5.58 | 14.25 | 17.34 | -1.72 | 25 | 8.18 |
| ROCE(%) | 7.84 | 11.3 | 12.38 | 10.38 | 0.25 | -3.25 | 13.93 | 16.57 | 0.18 | 31.73 | 9.27 |
| Price/Earnings(x) | 9.05 | 3.41 | 4.73 | 4.97 | 0 | 0 | 2.7 | 3.74 | 0 | 2.99 | 11.52 |
| Price/Book(x) | 0.24 | 0.23 | 0.38 | 0.37 | 0.28 | 0.23 | 0.36 | 0.6 | 0.48 | 0.64 | 1.21 |
| Dividend Yield(%) | 3.64 | 3.63 | 2.04 | 4.9 | 2.51 | 3.32 | 1.83 | 0.93 | 1.19 | 0.7 | 0.33 |
| EV/Net Sales(x) | 0.94 | -0.35 | 1.53 | 1.47 | 1.51 | -0.51 | 1.08 | 2.3 | 2.57 | 1.45 | 5.54 |
| EV/Core EBITDA(x) | 1.71 | -0.62 | 1.25 | 2.18 | 19.57 | 1.98 | 1.45 | 3.22 | 43.44 | 1.88 | 11.89 |
| Interest Earned Growth(%) | -25.32 | 42.05 | -33.29 | 28.8 | -14.17 | -29.87 | 119.58 | 42.72 | -51.03 | 236.06 | -40.16 |
| Net Profit Growth | -43.95 | 166.2 | 28.02 | -0.91 | -118.62 | -297.15 | 366.95 | 42.66 | -110.64 | 1724.95 | -61.35 |
| EPS Growth(%) | -43.95 | 166.21 | 28.02 | -0.91 | -118.62 | -297.14 | 366.95 | 42.66 | -110.14 | 1743.15 | -45.61 |
| Interest Coverage(x) % | 1.72 | 3.48 | 3.78 | 4.9 | 0.21 | -2.58 | 13.18 | 16.78 | 0.8 | 122.82 | 16.93 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 56.43 | 56.43 | 56.43 | 57.01 | 57.01 | 71.88 | 71.88 | 71.88 | 71.88 | 71.88 |
| FII | 7.35 | 7.35 | 7.35 | 7.35 | 7.35 | 9.26 | 9.28 | 9.26 | 9.26 | 9.26 |
| DII | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 36.22 | 36.22 | 36.22 | 35.64 | 35.64 | 18.85 | 18.84 | 18.85 | 18.85 | 18.85 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 |
| FII | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.56 | 0.56 | 0.56 | 0.56 | 0.56 |
* The pros and cons are machine generated.
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