LKP Finance (507912)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, LKP Finance's revenue was ₹155 Cr, and net profit ₹5.3 Cr; the operating margin was -0.5%.
| Q1 FY27 (₹ Cr) | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹155 | — | -48.7% |
| Operating profit | ₹-0.7 | — | to loss |
| Net profit | ₹5.3 | — | -14.4% |
| EPS (₹) | 0.69 | — | -13.8% |
| Operating margin | -0.5% | — | — |
📢 Recent Corporate Announcements
Gyftr Limited has entered into a partnership with Balaji Action Buildwell Private Limited (operating as Action Tesa). Under this agreement, Gyftr will power the company's rewards and gifting programme for channel partners. The filing does not disclose contract value, duration, or commercial terms relative to Gyftr's TTM revenue of ₹525 Cr.
- Partnership formed with Balaji Action Buildwell Private Limited (Action Tesa) on September 23, 2026
- Scope covers powering the rewards and gifting programme for Action Tesa's channel partners
- Financial value and contract tenure are not disclosed in the filing
Gyftr Ltd reported standalone Q1 FY27 revenue from operations of Rs 155.30 crore (Rs 15,530.19 lakh) with a net profit of Rs 3.65 crore (Rs 364.67 lakh). The company announced the resignation of two Non-Executive Directors, Kapil Garg and Gunjan Jain, effective August 14, 2026. Concurrently, Vouchagram India founders Arvind Prabhakar and Puja Punj have been appointed as Non-Executive Additional Directors. The statutory auditor issued a qualified conclusion regarding a pending Rs 25.00 crore (Rs 2,500 lakh) garnishee claim at DRAT Chennai following earlier Kingfisher/UBHL transactions.
- Non-Executive Directors Kapil Garg and Gunjan Jain resigned effective closing hours of August 14, 2026 citing personal reasons.
- Appointed Vouchagram India founders Arvind Prabhakar and Puja Punj as Non-Executive Additional Directors.
- Reported Q1 FY27 standalone revenue from operations of Rs 15,530.19 lakh and net profit of Rs 364.67 lakh.
- Auditor noted qualified conclusion on a Rs 2,500 lakh garnishee claim with Rs 1,126.22 lakh deposited and Rs 643.41 lakh mutual funds attached.
Gyftr Limited announced the appointment of Vouchagram India founders Arvind Prabhakar and Puja Punj as Additional Non-Executive Directors, following the resignations of Kapil Garg and Gunjan Jain on August 14, 2026. For the quarter ended June 30, 2026, the company reported standalone revenue from operations of Rs 155.30 cr (Rs 15,530.19 lakh) and a net profit of Rs 3.65 cr (Rs 364.67 lakh). Statutory auditors issued a qualified conclusion regarding a pending Rs 25.00 cr (Rs 2,500 lakh) garnishee claim at DRAT Chennai related to earlier Kingfisher/UBHL borrowings that were previously written back as income. The company had earlier surrendered its NBFC license effective March 20, 2026, to fully pivot to the gift voucher and rewards business.
- Arvind Prabhakar and Puja Punj (Founders of Vouchagram India) appointed as Additional Non-Executive Directors effective August 14, 2026.
- Non-Executive Directors Kapil Garg and Gunjan Jain resigned effective August 14, 2026, citing personal reasons.
- Q1 FY27 standalone revenue from operations stood at Rs 155.30 cr with net profit of Rs 3.65 cr (Rs 364.67 lakh).
- Auditor issued a qualified review conclusion over an unprovided DRT garnishee claim of Rs 2,500 lakh (with Rs 1,126.22 lakh deposited and Rs 643.41 lakh mutual funds attached).
Gyftr Ltd reported standalone Q1 revenue from operations of ₹155.30 Cr and net profit of ₹3.65 Cr, reflecting its structural transition into the gift voucher and loyalty business following NBFC license cancellation in March 2026. Profit before tax stood at ₹5.26 Cr compared to ₹5.56 Cr in Q4 FY26. Statutory auditors issued a qualified conclusion regarding a ₹25.00 Cr garnishee order and DRT claim related to legacy Kingfisher/UBHL borrowings where ₹21.22 Cr was previously written back. In addition, Vouchagram co-founders Arvind Prabhakar and Puja Punj were inducted to the board as non-executive directors following two resignations.
- Standalone Q1 revenue from operations reported at ₹155.30 Cr (₹15,530.19 lakh) following full pivot to gift voucher business
- Net profit stood at ₹3.65 Cr (₹364.67 lakh), up 32.6% QoQ compared to ₹2.75 Cr in Q4 FY26 but down 22.4% YoY from ₹4.70 Cr in Q1 FY26
- Auditors gave a qualified conclusion on an unprovided ₹25.00 Cr DRT claim involving ₹21.22 Cr legacy borrowings from Kingfisher/UBHL
- Company deposited ₹11.26 Cr and mutual funds worth ₹6.43 Cr stand attached under the DRT litigation pending before DRAT Chennai
- Vouchagram founders Arvind Prabhakar and Puja Punj appointed as Additional Non-Executive Directors
Gyftr Ltd reported Q1 FY27 standalone revenue from operations of Rs 155.30 Cr, down 48.3% QoQ compared to Rs 300.36 Cr in Q4 FY26, with net profit rising 32.6% QoQ to Rs 3.65 Cr. The statutory auditors issued a qualified conclusion regarding a pending Rs 25.00 Cr garnishee order from DRT Bangalore concerning Kingfisher/UBHL borrowings, which the company has not recognised as a liability. The results also emphasize the company's full pivot from an NBFC (license surrendered w.e.f. March 20, 2026) to a gift voucher and rewards platform. Additionally, Vouchagram India co-founders Arvind Prabhakar and Puja Punj were appointed as Non-Executive Directors following the resignations of Kapil Garg and Gunjan Jain.
- Q1 standalone revenue stood at Rs 155.30 Cr compared to Rs 300.36 Cr in the preceding quarter (Q4 FY26)
- Q1 net profit recorded at Rs 3.65 Cr (Rs 364.67 lakh) versus Rs 2.75 Cr in Q4 FY26 and Rs 4.70 Cr in Q1 FY26
- Auditor issued a qualified conclusion on Rs 25.00 Cr DRT garnishee order where Rs 11.26 Cr is deposited and Rs 6.43 Cr in mutual funds is attached
- NBFC license formally cancelled/surrendered with RBI effective March 20, 2026 to focus on gift vouchers and loyalty rewards
- Appointed Vouchagram India founders Arvind Prabhakar and Puja Punj as Non-Executive Directors
Gyftr Ltd has entered into a 3-year service agreement with Punjab National Bank (PNB) to develop and manage a dedicated microsite for PNB Credit Card holders. The platform will enable cardholders to purchase gift vouchers and coupons at discounted rates, with Gyftr providing the technical infrastructure and payment gateway. While the specific financial value is not disclosed, the partnership provides Gyftr access to a major PSU bank's customer base. This follows a period where the company reported TTM revenue of ₹357 Cr and a TTM net loss of ₹17 Cr.
- Agreement executed with Punjab National Bank on August 14, 2026, for customer engagement services.
- The contract has a fixed tenure of 3 years for the development and management of a dedicated microsite.
- Gyftr will provide end-to-end services including deployment, payment gateway integration, and technical support.
- The partnership targets PNB Credit Card holders, leveraging the bank's significant retail reach.
- The company reported a significant revenue jump to ₹302.48 Cr in the March 2026 quarter compared to previous periods.
Gyftr Ltd (formerly LKP Finance Limited) has scheduled a board meeting on August 14, 2026, to consider and approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company reported a TTM revenue of ₹357 Cr but faced a TTM PAT loss of ₹17 Cr. The trading window for designated persons remains closed from July 1, 2026, to August 16, 2026. Investors will be watching for a recovery in operating margins, which stood at -15.0% for the TTM period.
- Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results.
- Trading window for designated persons closed from July 01, 2026, to August 16, 2026.
- Company reported FY26 revenue of ₹380.0 Cr with a net profit of ₹22.0 Cr.
- Market capitalization stands at ₹1249 Cr with a significant 6-month price decline of 83.7%.
Gyftr Ltd has received formal approval to list its equity shares on the National Stock Exchange (NSE) starting July 10, 2026. A total of 7,68,08,250 equity shares with a face value of Rs. 10 each will be admitted to dealings under the symbol "GYFTR". The listing follows a share capital adjustment where 13,29,466 shares were cancelled due to a prior buy-back. This dual listing is expected to enhance the stock's liquidity and investor reach.
- Listing on NSE effective from July 10, 2026
- Total of 7,68,08,250 equity shares to be admitted for trading
- Face value of shares is Rs. 10 per unit
- 13,29,466 shares were cancelled pursuant to a buy-back
Financial Performance
Revenue Growth by Segment
The company operates as a single-segment investment firm; segment-wise reporting is considered irrelevant. Revenue is highly volatile due to dependence on trading in shares and debt securities, which led to a decline in revenues and profitability in FY22 and 9M FY23.
Geographic Revenue Split
Not disclosed in available documents; the company is headquartered in Mumbai, Maharashtra, and operates primarily within the Indian capital markets.
Profitability Margins
Net Profit Margin improved significantly from 66.65% in FY 2023-24 to 139.97% in FY 2024-25, representing a 209.01% favorable change. However, Return on Net Worth (RoNW) plummeted from 15.76% in FY 2023-24 to 2.98% in FY 2024-25, an adverse change of 81.09% due to lower earnings relative to the equity base.
EBITDA Margin
Operating Profit Margin is listed as N.A. in the MDA; however, the Interest Coverage Ratio declined from 22.02 in FY 2023-24 to 7.74 in FY 2024-25, a 65% decrease, indicating reduced headroom to service interest obligations from earnings.
Capital Expenditure
Historical and planned capital expenditure is not explicitly disclosed; however, the company proposed an increase in Authorized Share Capital and the issuance of Bonus Shares in January 2026 to strengthen its capital base.
Credit Rating & Borrowing
Brickwork Ratings downgraded the bank loan facilities of INR 125 Cr to BWR BBB-/Stable from BWR BBB/Stable in January 2023 and subsequently withdrew the rating. The company maintains working capital facilities of INR 125 Cr (INR 25 Cr from Federal Bank and INR 100 Cr from Bank of India).
Operational Drivers
Raw Materials
Not applicable as LKP Finance is an NBFC; its primary 'raw material' is capital used for investment and lending activities.
Key Suppliers
Not applicable; however, the company utilizes banking partners like Federal Bank and Bank of India for credit facilities totaling INR 125 Cr.
Capacity Expansion
Not applicable in manufacturing terms. In financial terms, the company is expanding its loan book, which grew from INR 56.11 Cr in March 2024 to INR 157.19 Cr in March 2025, a 180% increase.
Raw Material Costs
Not applicable; financial costs are driven by interest on borrowings. Total financial liabilities decreased from INR 56.77 Cr in FY24 to INR 36.74 Cr in FY25, a 35% reduction.
Manufacturing Efficiency
Not applicable; however, the Current Ratio improved from 4.63 in FY24 to 8.86 in FY25, a 91% increase, indicating high liquidity and efficient short-term asset management.
Logistics & Distribution
Not applicable; distribution of financial products is handled through the LKP Group's retail equity and depository services divisions.
Strategic Growth
Expected Growth Rate
15-18%
Growth Strategy
The company plans to achieve growth by leveraging periods of market weakness as long-term investment opportunities. It is also expanding its loan portfolio (which grew 180% YoY in FY25) and strengthening its capital structure through a proposed bonus share issue in 2026 to enhance market participation.
Products & Services
Financial services, trading in shares, debt securities, derivatives, and corporate lending.
Brand Portfolio
LKP Finance, LKP Group (established 1948).
New Products/Services
The company is focusing on expanding its lending activities, with loans and advances reaching INR 157.19 Cr in FY25, contributing to a shift in the revenue mix toward interest income.
Market Expansion
The company seeks opportunities in the capital market, specifically targeting the expected decline in interest rates in FY 2025-26 to optimize its investment portfolio.
Strategic Alliances
The company maintains significant related-party transactions, including a loan of INR 40.07 Cr to Mufin Green Finance Limited and brokerage/guarantee arrangements with LKP Securities Limited totaling over INR 31 Cr.
External Factors
Industry Trends
The NBFC industry is seeing increased regulatory oversight from the RBI, which acts as a hindrance to smooth functioning but promotes systemic stability. There is a trend toward digital transformation and analytics-based risk mitigation.
Competitive Landscape
Competes with other NBFCs and banks in the finance and investment space, differentiating through quick decision-making and customer orientation.
Competitive Moat
The company's moat is built on its 74-plus year legacy (since 1948) and the deep expertise of its promoters in the Indian financial services sector. This long-standing reputation provides better access to capital and client trust.
Macro Economic Sensitivity
Highly sensitive to capital market movements and interest rate cycles. Management expects a decline in interest rates in FY 2025-26, which would typically increase the valuation of its debt security holdings.
Consumer Behavior
Increased retail participation in capital markets provides more opportunities for the group's distribution and brokerage services.
Geopolitical Risks
Market volatility driven by global geopolitical events impacts the company's trading book and investment valuations.
Regulatory & Governance
Industry Regulations
Subject to stringent RBI norms for NBFCs and SEBI (LODR) Regulations. The company must maintain specific capital adequacy and liquidity ratios as per RBI directives.
Environmental Compliance
Not applicable for NBFC operations; no specific ESG costs disclosed.
Taxation Policy Impact
The company's current tax liabilities stood at INR 0.49 Cr in FY25, down from INR 1.52 Cr in FY24. Deferred tax liabilities also decreased significantly from INR 9.78 Cr to INR 0.60 Cr.
Legal Contingencies
The company has disclosed the impact of pending litigations on its financial position in Note 29 of the standalone financial statements, though specific INR values for all claims are not aggregated in the summary.
Risk Analysis
Key Uncertainties
The primary uncertainty is the volatility of earnings due to high dependency on trading securities. A material weakness in internal financial controls was reported in FY25 due to missing lender confirmations, posing a risk to financial reporting accuracy.
Geographic Concentration Risk
Concentrated in the Indian market, particularly the Mumbai financial hub.
Third Party Dependencies
Dependent on banking partners (Federal Bank, Bank of India) for liquidity facilities totaling INR 125 Cr.
Technology Obsolescence Risk
The company maintains an audit trail (edit log) facility in its accounting software to mitigate data tampering risks and comply with statutory requirements.
Credit & Counterparty Risk
Credit risk is managed through an ECL model; however, the loan book is concentrated with related parties like Mufin Green Finance (INR 40.07 Cr).
