Please find attached Transcript of Earnings Conference Call held on April 30, 2026
KFINTECH · price
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KFin Technologies reported Q4 FY26 revenue growth of 23% YoY (4.6% excluding Ascent acquisition), with full-year revenue up 19.3%. EBITDA margins stood at 37% in Q4 and 40.7% for the full year. Core PAT grew 6.2% to INR 353 crore for the year. Management cited headwinds from mark-to-market erosion in equity markets, shift toward passive ETFs affecting yields, and retail investor exodus impacting Issuer Solutions. The company won 4 new AMC mandates and crossed 10,500 corporate clients. International business (including Ascent) now contributes 15% of revenue with 499 new clients added. Management projects FY27 top line growth of 23-24%, EBITDA growth of 16-17%, and PAT growth of ~10%, with margins expected to hold at 40-45%.
KFin demonstrated resilience despite market headwinds, with strong international expansion offsetting domestic MF pressures. The conservative FY27 guidance suggests near-term margin pressure from Ascent integration but confidence in returning to 40%+ EBITDA margins as synergies materialize.