Financials KFin Technologies Limited

Equities

KFINTECH

INE138Y01010

Financial Technology (Fintech)

Market Closed - NSE India S.E. Other stock markets 07:43:52 2024-05-13 am EDT			5-day change	1st Jan Change
750.8 ^INR	+0.08%		-4.51%	+55.54%

Apr. 30	KFin Technologies Names Chief People Officer, COO for Alternatives and Wealth Solutions	MT
Apr. 29	KFin Technologies Limited Announces Executive Appointments	CI

Valuation

Fiscal Period: March	2023	2024	2025	2026
Capitalization ¹	47,426	128,484	-	-
Enterprise Value (EV) ¹	48,009	104,927	126,966	125,665
P/E ratio	24.3 x	42.8 x	42.3 x	35.9 x
Yield	-	0.6%	1.03%	1.16%
Capitalization / Revenue	6.59 x	12.5 x	13 x	11.3 x
EV / Revenue	6.67 x	12.5 x	12.8 x	11.1 x
EV / EBITDA	16.1 x	28.6 x	28.8 x	24.4 x
EV / FCF	31.2 x	70.6 x	44.3 x	37.7 x
FCF Yield	3.21%	1.42%	2.26%	2.65%
Price to Book	5.45 x	11.6 x	9.7 x	8.34 x
Nbr of stocks (in thousands)	169,229	171,130	-	-
Reference price ²	280.2	750.8	750.8	750.8
Announcement Date	5/5/23	4/29/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: März	2022	2023	2024	2025	2026
Net sales ¹	6,395	7,200	8,375	9,883	11,357
EBITDA ¹	-	2,980	3,666	4,405	5,158
EBIT ¹	-	2,514	3,136	3,783	4,475
Operating Margin	-	34.91%	37.44%	38.28%	39.4%
Earnings before Tax (EBT) ¹	-	2,582	3,274	4,055	4,794
Net income ¹	1,485	1,957	2,460	3,047	3,601
Net margin	23.23%	27.18%	29.38%	30.83%	31.71%
EPS ²	-	11.52	14.34	17.77	20.93
Free Cash Flow ¹	-	1,540	1,817	2,865	3,336
FCF margin	-	21.39%	21.77%	28.99%	29.37%
FCF Conversion (EBITDA)	-	51.67%	49.82%	65.05%	64.68%
FCF Conversion (Net income)	-	78.68%	74.54%	94.04%	92.64%
Dividend per Share ²	-	-	4.512	7.722	8.746
Announcement Date	12/14/22	5/5/23	4/29/24	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1
Net sales ¹	1,868	1,986	2,174	2,294	2,287
EBITDA	-	831	990.7	1,095	988
EBIT	-	-	780	989	-
Operating Margin	-	-	35.88%	43.12%	-
Earnings before Tax (EBT) ¹	598.5	689	882.3	965.7	902
Net income ¹	433.8	535.5	654.5	745.6	675
Net margin	23.22%	26.96%	30.11%	32.5%	29.51%
EPS ²	2.510	3.100	3.800	4.350	-
Dividend per Share	-	-	-	-	-
Announcement Date	7/28/23	-	-	-	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2022	2023	2024	2025	2026
Net Debt ¹	-	583	-	-	-
Net Cash position ¹	-	-	209	1,518	2,819
Leverage (Debt/EBITDA)	-	0.1956 x	-	-	-
Free Cash Flow ¹	-	1,540	1,817	2,865	3,336
ROE (net income / shareholders' equity)	-	25.8%	25.2%	24.6%	25%
ROA (Net income/ Total Assets)	-	17.2%	18.4%	19.7%	20.9%
Assets ¹	-	11,389	13,237	15,439	17,236
Book Value Per Share ²	-	51.40	64.60	77.40	90.10
Cash Flow per Share	-	-	-	-	-
Capex ¹	-	694	668	777	760
Capex / Sales	-	9.63%	8%	7.86%	6.69%
Announcement Date	12/14/22	5/5/23	4/29/24	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for KFin Technologies Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

750.8 INR

Average target price

752.8 INR

Spread / Average Target

+0.27%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Financial Technology (Fintech) (NEC)

	1st Jan change	Capi.
KFIN TECHNOLOGIES LIMITED	+55.54%	1.54B
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AFFIRM HOLDINGS, INC.	-34.88%	9.77B
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HITHINK ROYALFLUSH INFORMATION NETWORK CO., LTD.	-23.48%	9.1B
PB FINTECH LIMITED	+56.86%	6.44B
STONECO LTD.	-7.63%	5.13B

Financial Technology (Fintech) (NEC)