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LKP Securities Ltd (540192)

📊 BSE: 540192 🏢 Stockbroking & Allied 📢 Latest filing: 20 Aug 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, LKP Securities' revenue was ₹26.6 Cr (-4.7% year on year, -4.4% on the previous quarter), and net profit ₹1.5 Cr (-66.9% year on year); the operating margin was 22.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹26.6	-4.7%	-4.4%
Operating profit	₹5.8	-34.3%	-2.4%
Net profit	₹1.5	-66.9%	-35.5%
EPS (₹)	0.17	-67.9%	-37.0%
Operating margin	22.0%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

LKP Securities CFO Alpesh G. Dangodara Resigns Effective October 31, 2026

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 20 Aug 2026, 05:58 PM

LKP Securities Ltd has announced that Mr. Alpesh G. Dangodara, Chief Financial Officer and Key Managerial Personnel (KMP), has tendered his resignation to pursue other career opportunities. He will continue in his role until the close of business hours on October 31, 2026, providing a transition period of over two months. The company reported TTM revenue of Rs 106 Cr and TTM PAT of Rs 7 Cr with a market cap of Rs 140 Cr.

CFO and KMP Mr. Alpesh G. Dangodara tendered his resignation on August 20, 2026.
Effective cessation date is scheduled for October 31, 2026 (close of business hours).
Reason provided for the departure is to pursue better career opportunities.

💡 Track subsequent exchange disclosures for the appointment and profile of the successor CFO to ensure leadership continuity.

LKP Securities Admitted to Trade on NSE Under 'Permitted to Trade' from Aug 17, 2026

🟢 POSITIVE ⭐ 3/10

ROUTINE 📅 18 Aug 2026, 03:02 PM

LKP Securities Ltd has announced that the National Stock Exchange of India (NSE) has permitted its equity shares (Symbol: LKPSEC) to trade under the 'Permitted to Trade' (PTT) category. The permission was granted pursuant to NSE Regulation 3.1.1 vide Circular No. NSE/CML/75748, effective from August 17, 2026. The company currently has a market capitalization of ₹128 Cr on the BSE. This development expands accessibility and allows trading on the NSE Capital Market segment.

NSE approved equity shares (Symbol: LKPSEC) for trading in Permitted to Trade (PTT) segment
Trading on NSE effective from August 17, 2026
Approval granted vide NSE Circular No. NSE/CML/75748 under Regulation 3.1.1
Expands secondary market accessibility alongside existing BSE listing (Market Cap: ₹128 Cr)

💡 Monitor any improvement in daily trading liquidity and volume across exchanges following NSE trading commencement.

LKP Securities Q1 PAT Drops 85% to ₹0.63 Cr; Bond Street Capital Becomes 54.35% Subsidiary

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 05 Aug 2026, 06:59 PM

LKP Securities reported a sharp 85.5% YoY decline in standalone PAT to ₹0.63 Cr for Q1 FY27, down from ₹4.32 Cr. Total revenue from operations fell 11.9% YoY to ₹24.25 Cr, impacted by a ₹1.29 Cr loss on fair value changes. This loss was primarily due to the derecognition of a ₹1.35 Cr fair value gain as Bond Street Capital transitioned from an investment to a 54.35% subsidiary. Employee benefit expenses rose 17% YoY to ₹10.98 Cr, further weighing on the bottom line.

Standalone PAT decreased 85.5% YoY to ₹0.63 Cr from ₹4.32 Cr in the previous year's quarter.
Total Revenue from operations declined to ₹24.25 Cr compared to ₹27.53 Cr in Q1 FY26.
Acquired majority control of Bond Street Capital Private Limited, increasing stake from 19.90% to 54.35%.
Derecognized ₹1.35 Cr in prior fair value gains due to the reclassification of Bond Street Capital as a subsidiary.
Allotted 4,22,830 equity shares to employees under the ESOP scheme during the quarter.

💡 Investors should monitor the consolidated performance in future quarters to assess the contribution of the new subsidiary, Bond Street Capital, and watch for stabilization in employee costs which now consume ~45% of total income.

₹0.63 Cr PAT: LKP Securities Reports 85% YoY Profit Decline in Q1 FY27

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 05 Aug 2026, 06:55 PM

LKP Securities reported a weak set of numbers for Q1 FY27, with standalone Profit After Tax (PAT) crashing 85.5% YoY to ₹0.63 Cr from ₹4.32 Cr. Total income declined 12% YoY to ₹24.37 Cr, primarily due to lower fees and commission income and a fair value loss of ₹1.29 Cr. Operating pressure was evident as employee benefit expenses rose 17% YoY to ₹10.98 Cr. A key corporate development was the increase in stake in Bond Street Capital Private Limited to 54.35%, making it a subsidiary effective May 7, 2026.

Standalone PAT fell 85.5% YoY to ₹0.63 Cr from ₹4.32 Cr in the year-ago period.
Total income decreased by 11.9% YoY to ₹24.37 Cr compared to ₹27.68 Cr in Q1 FY26.
Stake in Bond Street Capital Private Limited increased from 19.90% to 54.35% during the quarter.
Employee benefit expenses increased to ₹10.98 Cr from ₹9.38 Cr YoY, representing 45% of total income.
The company allotted 4,22,830 equity shares under ESOP, slightly diluting the equity base.

💡 Investors should monitor the performance of the newly acquired subsidiary, Bond Street Capital, and watch for stabilization in fee-based income which has seen a sequential and yearly decline.

LKP Securities Q1 PAT Drops 85% to ₹0.63 Cr; Acquires Majority Stake in Bond Street Capital

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 05 Aug 2026, 06:47 PM

LKP Securities reported a weak set of standalone results for Q1 FY27, with net profit falling 85.4% YoY to ₹0.63 Cr from ₹4.32 Cr. Total income declined 12% YoY to ₹24.37 Cr, primarily driven by a drop in fee and commission income and a ₹1.29 Cr net loss on fair value changes. A significant accounting event occurred as the company increased its stake in Bond Street Capital Private Limited from 19.90% to 54.35%, making it a subsidiary. This transition led to the derecognition of a ₹1.35 Cr fair value gain previously recorded, impacting the bottom line.

Standalone Net Profit fell to ₹0.63 Cr in Q1 FY27 compared to ₹4.32 Cr in Q1 FY26
Total Standalone Income decreased by 12% YoY to ₹24.37 Cr
Acquired majority control of Bond Street Capital Private Limited with stake increasing to 54.35% on May 7, 2026
Derecognized ₹1.35 Cr in fair value gains due to reclassifying Bond Street Capital from an investment to a subsidiary
Allotted 4,22,830 equity shares to employees under the ESOP scheme during the quarter

💡 Investors should monitor the consolidated performance in upcoming quarters to assess the contribution of the new subsidiary, Bond Street Capital. The core brokerage business is facing margin pressure, so tracking the recovery of fee and commission income is critical.

LKP Securities Independent Director Ganesh Malhotra Completes 10-Year Tenure

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 03 Aug 2026, 04:15 PM

Mr. Ganesh Malhotra has ceased to be an Independent Director of LKP Securities effective August 02, 2026, following the completion of his second consecutive five-year term. This mandatory retirement also results in his departure from the Chairperson role of the Nomination & Remuneration Committee and memberships in the Audit and Stakeholders' Relationship Committees. The company, which has a market capitalization of ₹131 Cr and TTM revenue of ₹107 Cr, will need to fill these committee vacancies to maintain regulatory compliance. This is a routine governance event necessitated by SEBI regulations regarding director tenures.

Completion of 2nd consecutive 5-year term as Independent Director
Cessation effective from the close of business hours on August 02, 2026
Vacated Chairperson position of the Nomination & Remuneration Committee
Vacated memberships in the Audit Committee and Stakeholders' Relationship Committee
Total tenure served reached the regulatory limit of 10 years

💡 Monitor the company's upcoming announcements for the appointment of a new Independent Director to ensure board and committee compositions remain compliant with SEBI LODR regulations.

LKP Securities Board Meeting on August 5, 2026, to Approve Q1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

BOARD_MEETING 📅 29 Jul 2026, 02:49 PM

LKP Securities has scheduled a board meeting for August 5, 2026, to approve its standalone and consolidated unaudited financial results for the quarter ended June 30, 2026. The company enters this period following a fiscal year (FY26) where it generated Rs 107 Cr in revenue and Rs 10 Cr in PAT. Investors will be monitoring if the company can improve upon its March 2026 quarter performance, which saw a net profit of Rs 2.26 Cr, down from Rs 4.4 Cr in the same quarter the previous year. The trading window for insiders remains closed until August 7, 2026.

Board meeting scheduled for August 5, 2026, to approve Q1 FY27 results.
Trading window for designated persons closed until August 7, 2026.
Company reported a TTM revenue of Rs 107 Cr and TTM PAT of Rs 10 Cr.
Market capitalization stands at Rs 131 Cr with a P/E ratio of 12.8.
Previous quarter (Mar 2026) revenue was Rs 27.79 Cr with an OPM of 21.5%.

💡 Monitor the financial results on August 5 to assess the impact of market volatility on brokerage volumes and whether the shift toward wealth management is protecting margins.

View All 540192 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue increased by 15.19% YoY to INR 116.58 Cr, primarily driven by growth in brokerage income, distribution income, and other advisory services.

Geographic Revenue Split

Not disclosed in available documents, though the company highlights expansion into Tier II and Tier III cities to diversify its retail client base.

Profitability Margins

Net Profit Margin improved to 11.33% from 9.77% (a 16% favorable YoY change). Operating Profit Margin slightly declined to 17.25% from 17.50% (a 1.47% adverse change) due to increased operational costs.

EBITDA Margin

Operating Profit Margin stands at 17.25%, reflecting core profitability after managing cost optimizations and digital transformation expenses.

Capital Expenditure

Not disclosed in absolute INR Cr, but the company is actively investing in technology upgrades, digital infrastructure, and advanced trading tools to enhance business scalability.

Credit Rating & Borrowing

The company has secured borrowings of INR 13.50 Cr. The Debt-Equity ratio increased by 50% YoY to 0.15:1 following the issuance of Non-Convertible Debentures (NCDs).

⚙️ Operational Drivers

Raw Materials

As a financial services firm, primary inputs are Technology Infrastructure (trading platforms) and Human Capital (362 employees).

Import Sources

Not applicable for a brokerage firm; services are delivered through domestic digital infrastructure and a network of branches/franchisees.

Key Suppliers

IDBI Trusteeship Services Limited serves as the Debenture Trustee for the company's redeemable secured NCDs.

Capacity Expansion

Current workforce of 362 employees as of March 31, 2025. Expansion is focused on digital onboarding (KYC) and growing the business partner network to accelerate client acquisition.

Raw Material Costs

Employee remuneration is a major cost driver; median salaries for non-managerial staff increased by 22.33% YoY, while managerial remuneration increased by 20%.

Manufacturing Efficiency

Not applicable; operational efficiency is measured by the Debtors Turnover ratio, which improved 8.26% YoY to 1:5.86.

Logistics & Distribution

Distribution of services is handled through a hybrid model of physical branches/franchisees and digital channels targeting Tier II and Tier III cities.

📈 Strategic Growth

Expected Growth Rate

15.19%

Growth Strategy

Growth will be achieved through scaling operations via digital innovation, expanding the partner and client base in Tier II/III cities, and diversifying into high-yield wealth management and advisory-led engagement.

Products & Services

Research-driven equity advisory, equity trading services, distribution of third-party financial products (mutual funds, insurance), and wealth management solutions.

Brand Portfolio

LKP Securities

New Products/Services

AI-driven advisory tools, automated investing platforms, and personalized wealth management services integrated through open architecture.

Market Expansion

Targeting Tier II and Tier III cities to capitalize on the financialization of household savings and rising smartphone penetration.

Strategic Alliances

Maintains an extensive network of franchisees and business partners across major Indian cities to maintain a de-risked and scalable business model.

🌍 External Factors

Industry Trends

The industry is shifting toward digital-first models with 100% digital KYC journeys; full-service brokers are realigning toward value-added research to counter discount broker margin pressure.

Competitive Landscape

Intense competition from digital-first discount brokers who dominate new client acquisitions through low-cost models.

Competitive Moat

Moat is built on research-driven advisory and a hybrid distribution network (physical + digital), which is sustainable due to the high-touch requirements of HNI and wealth management segments.

Macro Economic Sensitivity

Highly sensitive to capital market performance and GDP growth; rising equity allocations in household savings provide a structural tailwind.

Consumer Behavior

Younger, tech-savvy investors are demanding seamless, personalized mobile trading experiences and DIY onboarding.

Geopolitical Risks

Indirect impact through global market volatility affecting domestic trading volumes and investor sentiment.

⚖️ Regulatory & Governance

Industry Regulations

Subject to SEBI Listing Obligations and Disclosure Requirements (LODR) and SEBI (Prohibition of Insider Trading) Regulations; compliance is monitored by an Audit Committee.

Environmental Compliance

CSR expenditure for the year was INR 22.50 Lakhs, focused on community development and equitable growth.

Taxation Policy Impact

The company incurred a tax expense of INR 4.85 Cr for the fiscal year ended March 31, 2025.

Legal Contingencies

The secretarial audit reports compliance with all material applicable acts; no specific pending court case values were disclosed in the provided documents.