KFIN TECHNOLOGIES LIMITED

Operates as a Registrar and Transfer Agent (RTA) serving India's mutual fund industry and corporate registry clients. Three reporting segments generated ₹1,301.49 crore in FY26 revenue. Domestic mutual fund investor solutions is the largest, contributing 66.2% of segment revenue (₹862.23 crore) at a 56.7% EBIT margin — the core RTA business processing folios for asset management companies, with 32.8% market share in AAUM. International and other investor solutions contributed 20.6% (₹268.04 crore) at a 9.6% EBIT margin, covering the Ascent-acquired global fund administration business for 511 international clients and the National Pension System (NPS) platform managing ~2.5 million pensioners and ~60% of Indian pension fund managers on its mPower platform. Issuer solutions contributed 13.2% (₹171.23 crore) at a 49.2% EBIT margin, providing corporate registry services to listed companies — with main board IPO market share of ~80% by market cap on issue size, winning mandates for Jio Platforms, Razorpay, Groww, FirstCry and Garuda Aerospace. The largest cost is people, with employee costs at ₹525.08 crore or 40.3% of revenue, followed by other operating expenses at ₹246.75 crore (19%). The business is asset-light with capex at 3.1% of revenue, debt-free, and a cash position of ₹687 crore. It is the largest RTA in India by folios managed and holds 50% market share among NSE500 corporates.