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Latest filing: 2026-08-10 13:33
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Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
6 announcements match the current filters (relevance ≥ 5).
Khandwala Securities Q1 FY27: Returns to Profitability with Rs 8.49 Lakhs PAT
Khandwala Securities reported a turnaround in Q1 FY27, posting a net profit of Rs 8.49 lakhs compared to a net loss of Rs 58.58 lakhs in the same quarter last year. Revenue from operations grew 98.5% year-on-year to Rs 2.27 crore, primarily driven by fee-based operations which contributed Rs 2.22 crore. The company managed to contain total expenses at Rs 2.51 crore, a significant reduction from Rs 3.19 crore in the preceding March 2026 quarter. While the absolute profit is small, it represents a positive shift for a micro-cap company that was loss-making throughout most of FY26.
Confidence: HIGH
What changedThe company has transitioned from a loss-making quarter to a profitable one, driven by a doubling of revenue in its core fee-based segment and improved expense management.
Why it mattersFor a micro-cap company with a Rs 27 crore market cap, returning to profitability is a critical milestone for valuation support, although the absolute profit remains thin relative to operating costs.
Revenue from Operations (Q1 FY27): Rs 2.27 crNet Profit (Q1 FY27): Rs 8.49 lakhsYoY Revenue Growth: 98.5%Fee-based Revenue: Rs 2.22 crQ1 Revenue vs TTM Revenue: 28.4%
📅 Short termThe stock may see positive sentiment due to the turnaround and significant YoY revenue growth, though liquidity remains a constraint for micro-caps.
📈 Long termThe long-term outlook depends on the company's ability to scale its wealth management and advisory business in a highly competitive landscape dominated by larger players and discount brokers.
⚠ Risk flags
- Small absolute profit margins
- High sensitivity to capital market transaction volumes
- Intense competition from larger financial institutions
Key Highlights
Revenue from operations increased 98.5% YoY to Rs 2.27 crore from Rs 1.14 crore in Q1 FY26
Net profit of Rs 8.49 lakhs recorded against a net loss of Rs 58.58 lakhs in the year-ago period
Fee-based operations revenue grew 103% YoY to Rs 2.22 crore, accounting for 98% of operational revenue
Total expenses reduced sequentially by 21.3% to Rs 2.51 crore from Rs 3.19 crore in March 2026
Basic and Diluted EPS turned positive at Rs 0.06 compared to Rs -0.38 in Q1 FY26
👀 What to Watch
Monitor the sustainability of fee-based income in upcoming quarters, as this segment is highly sensitive to capital market volatility. Investors should also track the 33rd Annual General Meeting scheduled for September 18, 2026, for management commentary on growth strategy.
Khandwala Securities Receives SEBI Administrative Warning for Merchant Banking Violations
Khandwala Securities Limited has received an administrative warning from SEBI regarding violations of ICDR and Merchant Banker regulations. The warning stems from a Draft Red Herring Prospectus (DRHP) filed for ArMee Infotech Limited in February 2025, which lacked a mandatory independent auditor's examination report. SEBI has returned the offer document and warned the company to improve its due diligence and compliance standards. The company stated that this warning has no immediate financial or operational impact.
Key Highlights
SEBI issued an administrative warning letter dated June 09, 2026, for due diligence failures.
The violation pertains to the DRHP of ArMee Infotech Limited filed on February 26, 2025.
Non-compliance involved missing auditor reports required under Regulation 24(2)(b) of ICDR Regulations.
SEBI returned the offer document in accordance with circulars dated February 06, 2024.
The company has been advised to place the warning before its Board of Directors.
👀 What to Watch
Investors should note the regulatory lapse in the company's merchant banking division, which could affect its reputation and future mandates. While there is no immediate financial penalty, further non-compliance could lead to stricter enforcement actions.
Khandwala Securities FY26 Net Loss Widens to ₹127 Lakhs; Revenue Drops 17%
Khandwala Securities Limited reported a standalone net loss of ₹127.03 lakhs for the full year ended March 31, 2026, compared to a loss of ₹79.92 lakhs in the previous fiscal. Annual revenue from operations declined by approximately 17% to ₹789.44 lakhs from ₹953.93 lakhs in FY25. While the Q4 FY26 loss of ₹43.99 lakhs showed improvement over the ₹205.32 lakhs loss in Q4 FY25, the overall annual performance remains weak with declining fee-based income. Notably, the auditors have issued a qualified opinion on the financial results, indicating potential reporting concerns.
Key Highlights
Standalone annual revenue from operations fell to ₹789.44 lakhs in FY26 from ₹953.93 lakhs in FY25.
Net loss for the full year widened to ₹127.03 lakhs compared to a loss of ₹79.92 lakhs in the previous year.
Fee-based operations revenue, the company's largest segment, dropped to ₹754.61 lakhs from ₹921.70 lakhs YoY.
Earnings Per Share (EPS) for FY26 stood at negative ₹0.83, down from negative ₹0.52 in FY25.
The auditor's report contains qualifications, and the company has submitted a Statement on Impact of Audit Qualifications.
👀 What to Watch
Investors should exercise caution due to the widening annual losses and the presence of audit qualifications. It is critical to review the specific nature of the audit qualifications before considering any new positions in the stock.
Khandwala Securities Q3 FY26: Swings to Net Loss of ₹48.77 Lakhs as Revenue Drops 61% YoY
Khandwala Securities reported a weak performance for the quarter ended December 31, 2025, swinging to a consolidated net loss of ₹48.77 lakhs from a profit of ₹53.92 lakhs in the previous year. Total revenue from operations saw a sharp decline of 61% YoY, falling to ₹105.53 lakhs. This downturn was primarily driven by a significant contraction in fee-based operations, which dropped from ₹323.10 lakhs in the preceding quarter to just ₹98.80 lakhs. Total expenses of ₹220.98 lakhs outpaced total income, leading to negative margins for the period.
Key Highlights
Consolidated Revenue from Operations fell 60.9% YoY to ₹105.53 lakhs from ₹270.02 lakhs.
Reported a Net Loss of ₹48.77 lakhs for Q3 FY26 compared to a Net Profit of ₹53.92 lakhs in Q3 FY25.
Fee-based operations revenue plummeted 69.4% on a sequential (QoQ) basis to ₹98.80 lakhs.
Total expenses stood at ₹220.98 lakhs, resulting in a loss before tax of ₹49.03 lakhs.
Earnings Per Share (EPS) turned negative at (₹0.32) for the quarter.
👀 What to Watch
Investors should exercise caution as the core fee-based business has seen a drastic reduction in revenue, leading to operational losses. It is advisable to wait for signs of recovery in transaction volumes or advisory fees before considering new positions.
Khandwala Securities Revises Q2 FY25 Results; Corrects ₹1,045 Lakh Error in Receivables/Payables
Khandwala Securities has issued revised financial results for Q2 and H1 FY25 to correct manual posting errors in its balance sheet. Standalone trade receivables and payables were both significantly reduced by approximately ₹1,045 lakhs to ₹470.06 lakhs and ₹804.57 lakhs, respectively. The company clarified that these adjustments have no impact on the reported profit or loss for the period. For Q2 FY25, the company maintained a standalone net profit of ₹24.32 lakhs, though the half-year (H1) performance resulted in a net loss of ₹34.26 lakhs.
Key Highlights
Standalone Trade Receivables revised downward from ₹1,515.03 lakhs to ₹470.06 lakhs.
Standalone Trade Payables revised downward from ₹1,849.54 lakhs to ₹804.57 lakhs.
Q2 FY25 standalone net profit reported at ₹24.32 lakhs, nearly flat compared to ₹23.62 lakhs YoY.
H1 FY25 standalone performance shows a net loss of ₹34.26 lakhs versus a profit of ₹71.45 lakhs in H1 FY24.
Fee-based operations revenue for Q2 FY25 grew to ₹323.10 lakhs from ₹300.22 lakhs YoY.
👀 What to Watch
Investors should note that while the bottom line remains unaffected, the significant manual error in balance sheet reporting suggests a need for improved internal financial controls. Monitor the company's ability to return to profitability in the second half of the year following the H1 loss.
KHANDSE: Suzan Vakil Appointment as Independent Director Approved
Khandwala Securities Limited (KHANDSE) announced the successful passing of a special resolution for the appointment of Mrs. Suzan Vakil as an Independent Director. The resolution was approved via postal ballot with a requisite majority. Total of 9,410,673 votes were cast in favor, representing 99.9996% of the total votes polled. Only 37 votes were cast against the resolution. This appointment strengthens the board and signals a commitment to corporate governance.
Key Highlights
Mrs. Suzan Vakil appointed as an Independent Director (DIN:11289012)
9,410,673 votes cast in favor of the resolution
37 votes cast against the resolution
99.9996% of votes polled were in favor
Total of 4615 shareholders as on cut-off date October 31, 2025
👀 What to Watch
Investors should view this appointment positively as it strengthens the board's oversight. Monitor future board decisions and strategic direction under the new director's guidance.
