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Keynote Financial Services Limited
(KEYFINSERV)
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Rating:62Neutral
Price Target:
₹259.00
▼(-16.81% Downside)
Action:Reiterated
Date:09/06/26
The score is supported primarily by a strong, conservatively levered balance sheet and solid recent revenue momentum. It is held back by inconsistent earnings/cash-flow quality and a clearly bearish technical setup (below key moving averages with negative momentum), with valuation offering limited offset given a 24 P/E and low dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a growing equity base provide financial resilience and reduce dependence on borrowing. Consistent asset expansion also supports a stronger capital foundation, giving the company more flexibility to absorb volatility and pursue operations over the next several quarters.
Negative Factors
Volatile profitability
Large swings in profitability make earnings power harder to forecast and weaken confidence that recent revenue growth will translate consistently into profits. The 2026 net-income decline despite higher revenue also suggests that operating leverage or margin performance is not yet dependable.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a growing equity base provide financial resilience and reduce dependence on borrowing. Consistent asset expansion also supports a stronger capital foundation, giving the company more flexibility to absorb volatility and pursue operations over the next several quarters.
Read all positive factors
Keynote Financial Services Limited (KEYFINSERV) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.41B
Dividend Yield0.39%
Average Volume (3M)212.00
Price to Earnings (P/E)24.5
Beta (1Y)1.03
Revenue Growth-6.38%
EPS Growth-70.43%
CountryIN
Employees28
SectorGeneral
Sector StrengthN/A
IndustryInvestment - Banking & Investment Services
Share Statistics
EPS (TTM)10.21
Shares Outstanding5,566,637
10 Day Avg. Volume107
30 Day Avg. Volume212
Financial Highlights & Ratios
PEG Ratio-0.35
Price to Book (P/B)0.88
Price to Sales (P/S)4.35
P/FCF Ratio9.84
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Keynote Financial Services Limited Business Overview & Revenue Model
Company Description
Headquartered in Mumbai, India, and established in 1993, Keynote Financial Services Limited, which adopted its current name in April 2019 after operating as Keynote Corporate Services Limited, offers a comprehensive range of investment banking and...
Keynote Financial Services Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
86
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 324.27M | 291.44M | 227.17M | 338.73M | 146.26M | 174.47M |
| Gross Profit | 294.81M | 261.66M | 139.01M | 276.57M | 95.89M | 123.53M |
| EBITDA | 78.18M | 103.70M | 128.09M | 364.50M | 6.37M | 205.19M |
| Net Income | 56.81M | 66.59M | 145.70M | 267.85M | -16.30M | 160.83M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.59B | 1.52B | 1.40B | 1.10B | 1.39B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 118.55M | 126.03M | 120.55M | 131.92M | 838.61M |
| Total Debt | 0.00 | 41.44M | 16.36M | 13.48M | 49.30M | 271.14M |
| Total Liabilities | -1.45B | 147.22M | 134.00M | 156.51M | 116.81M | 382.75M |
| Stockholders Equity | 1.45B | 1.45B | 1.38B | 1.24B | 981.17M | 1.01B |
Cash Flow | ||||||
| Free Cash Flow | -71.24M | 128.82M | 29.14M | 50.58M | 195.14M | -130.11M |
| Operating Cash Flow | -69.02M | 153.38M | 45.75M | 55.93M | 207.84M | -126.41M |
| Investing Cash Flow | 67.84M | -176.71M | -44.47M | -42.48M | -28.26M | 219.23M |
| Financing Cash Flow | -8.41M | 19.51M | 4.03M | -26.33M | -260.06M | -4.92M |
Keynote Financial Services Limited Technical Analysis
Negative
311.35
Price Trends
259.21
Negative
264.53
Negative
275.26
Negative
Market Momentum
-1.99
Positive
48.37
Neutral
40.16
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KEYFINSERV, the sentiment is Negative. The current price of 311.35 is above the 20-day moving average (MA) of 256.71, above the 50-day MA of 259.21, and above the 200-day MA of 275.26, indicating a bearish trend. The MACD of -1.99 indicates Positive momentum. The RSI at 48.37 is Neutral, neither overbought nor oversold. The STOCH value of 40.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KEYFINSERV.
Keynote Financial Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹976.50M | 28.57 | ― | 2.36% | -25.82% | 144.26% | |
63 Neutral | ₹7.22B | 35.09 | ― | 0.57% | 18.60% | -61.27% | |
62 Neutral | ₹1.41B | 24.51 | ― | 0.39% | -6.38% | -70.43% | |
62 Neutral | ₹1.25B | 16.68 | ― | 5.38% | -1.63% | -5.03% | |
62 Neutral | ₹17.78B | 13.78 | ― | 1.41% | 12.02% | -11.03% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹1.01B | 33.42 | ― | 26.33% | -14.45% | -38.29% |
* General Sector Average
IN:KEYFINSERV
Keynote Financial Services Limited
253.75
3.56
1.42%
IN:DBSTOCKBRO
DB (International) Stock Brokers Limited
28.33
2.19
8.38%
IN:EMKAY
Emkay Global Financial Services Limited
260.05
41.37
18.92%
IN:INDBANK
Indbank Merchant Banking Services Limited
27.80
-4.36
-13.56%
IN:INVENTURE
Inventure Growth & Securities Ltd.
0.93
-0.61
-39.61%
IN:SMCGLOBAL
SMC Global Securities Ltd. (India)
85.17
18.33
27.43%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.