Neutral KFin Technologies; target of Rs 1300: Motilal Oswal

Neutral

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Motilal Oswal's research report on KFin Technologies

KFin Technologies (KFINTECH) reported 33% YoY growth in operating revenue to INR2.9b in 3QFY25 (in-line), driven by 37%/17%/52% YoY growth in domestic MF solutions/issuer solutions/international solutions. For 9MFY25, revenue grew 33% YoY to ~INR8.1b. Total operating expenses grew 32% YoY to INR1.6b (in-line), resulting in 33% YoY growth in EBITDA to INR1.3b (in-line). While employee costs were in-line, elevated tech costs resulted in a 4% miss on other expenses. EBITDA margin expanded to 45% in 3QFY25 vs. 44.8% in 3QFY24 (our est. of 45.9%).

Outlook

We expect revenue/PAT to post a CAGR of 22%/31% over FY24-27 and maintain a Neutral rating on the stock with a one-year TP of INR1,300, premised at a P/E multiple of 45x on Sept’26E earnings.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

KFin Technologies_27012025_Motilal Oswal