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Khandwala Securities Limited (KHANDSE) Fair Value & Analysis

Financial Services · IN · Market cap ₹268M

KS Khandwala Securities Limited KHANDSE · NSE
Price₹17.54
Fair Value₹2.15
Upside-87.7%
Quality48/100
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Evidence: Low Range ₹1.19 – ₹2.95

Fair value as of: Jul 3, 2026

From 3 valuation models · updated yesterday

Share price −9.8% over the past month.

Price vs Fair Value (12 months)

₹27.81 ₹12.49 Fair Value ₹2.15 Jul 2025 Jul 2026

12‑month range ₹12.49 – ₹27.81 · fair‑value band ₹1.19 – ₹2.95 · the ₹17.54 price screens above the ₹2.15 fair value. As of Jul 3, 2026.

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Analysis

Khandwala Securities Limited (KHANDSE) currently trades at ₹17.54, while our model-based Fair Value estimate is ₹2.15 — implying the stock looks roughly 87.7% overvalued today. We read business quality at 48/100 (below-average quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: low).

Over the trailing twelve months, Khandwala Securities Limited generated revenue of ₹76.6M at a net margin of -16.6%. Revenue declined 45.5% year over year. It earns a return on equity of -4.5%. Net debt stands at ₹24.6M. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) ₹76.6M
Revenue growth (YoY) -45.5%
Net margin -16.6%
Return on equity -4.5%
Free cash flow −₹16.1M FY2026
Operating margin -16.9%
More key figures
EPS (TTM) ₹-0.8300
EPS growth (YoY) +6.7%
Net debt ₹24.6M FY2026

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

About the company

Khandwala Securities Limited provides stock broking, investment banking, portfolio management, and research analyst and investment advisory services in India. It operates in two segments, Fee-Based and Investment/Trading in Stock. The company offers investment banking services, including capital raising, mergers and acquisitions advisory, domestic IPOs, FCCBs, private equity placements, corporate finance advisory, restructuring, FCCBs, and GDRs; institutional equities services, such as institutional equity sales, execution, and research; and broking and distribution services comprising non-institutional equity sales, trading, research, depository participant ship, and broking and distribution. It also provides investment advisory services, including private and corporate wealth management; and portfolio management services, such as planning and asset deployment advice, and asset allocation and distribution of various products. In addition, the company is involved in the provision …

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Khandwala Securities Limited reported revenue of ₹93.6M in FY2026 versus ₹61.1M in FY2022, a compound +11.2%/yr. Reported net income was −₹12.7M in FY2026.

Revenue +11.2%/yr
FY22 ₹61.1M
FY23 ₹62.8M
FY24 ₹85.3M
FY25 ₹95.6M
FY26 ₹93.6M
Net income
FY22 ₹1.2M
FY23 ₹4.4M
FY24 ₹1.7M
FY25 −₹8.0M
FY26 −₹12.7M

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Similar stocks

6 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Jul 3, 2026).

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Morgan Stanley, a financial holding company, MS $221.04 $99.08 -55%
The Goldman Sachs Group GS $1,001 $283.83 -72%
CITIC Securities Company 600030 ¥28.64 ¥49.76 +74%
Mirae Asset Securities Co 006800 51,200 KRW 36,828 KRW -28%
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Frequently asked questions

Is Khandwala Securities Limited (KHANDSE) undervalued?
As of Jul 3, 2026, our model estimates a fair value of ₹2.15 versus a price of ₹17.54 — about −88% (overvalued). Model-based estimate, not financial advice.
What is the fair value of KHANDSE?
Our model-based fair value for Khandwala Securities Limited is ₹2.15 (as of Jul 3, 2026), built from audited fundamentals. The current price is ₹17.54.
What is the quality score of KHANDSE?
Khandwala Securities Limited has a Quality Score of 48/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Khandwala Securities Limited (KHANDSE)?
Khandwala Securities Limited reported trailing-twelve-month revenue of about ₹76.6M (latest available figure, as of Jul 3, 2026).
What is the net profit margin of KHANDSE?
The net profit margin of Khandwala Securities Limited is about -16.6%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.