NSE: LKPSEC · BSE: 540192
L K P SECURITIES LTD.
Earns revenue primarily through fees and commission income from stockbroking and allied capital market activities, with FY26 fees and commission income of Rs 8,927.56 lakhs against total consolidated revenue from operations of Rs 10,714.83 lakhs. Employee cost is the largest operating expense at 38% of revenue (Rs 40.68 crore), followed by other operating expenses at 12.8% (Rs 13.76 crore) and depreciation at 5% (Rs 5.34 crore). The company has no materials cost, no debt on its books, and a small capital expenditure base of Rs 2.14 crore. It acquired a 54.35% stake in Bond Street Capital Private Limited, making it a subsidiary, in line with capital allocation into private market activities. The promoter group holds 72.44% of the equity, and the board has recommended a 10% dividend (Re. 0.20 per share on a Rs 2 face value) for FY26. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Fees and commission income, Other operating revenue. Asset-light, services-based stockbroking and capital markets firm
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 94 | 78 | 97 | 112 | 107 |
| EBITDA (ex other income) | 22 | 9 | 22 | 26 | 26 |
| margin % | 23.5 | 11.9 | 22.4 | 23.6 | 24.7 |
| Owners' profit | 13 | 0 | 10 | 0 | 10 |
| EPS, as reported (₹) | 1.81 | 0.50 | 1.19 | 1.61 | 1.25 |
| ROE % · ROCE % | 23.3 · — | 5.6 · — | 11.9 · — | 14.3 · — | 10.1 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 28 | (72) | 40 | (23) | (4) |
| Capex | (3) | (3) | (1) | (4) | (2) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 31 | 34 | 25 | 22 | 28 | 27 | 25 | 28 |
| Profit before tax | 6 | 6 | 3 | 4 | 6 | 4 | 1 | 3 |
| Net profit | 4 | 4 | 2 | 3 | 4 | 3 | 1 | 2 |
| EPS (₹) | 0.50 | 0.55 | 0.24 | 0.32 | 0.54 | 0.32 | 0.12 | 0.27 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BILLIONBRAINS GARAGE VN L | 1,16,321 | 46.8 | 12.05 | 39.5 | 21.6 | 28.9 | — | 67.8 |
| MOTILAL OSWAL FIN LTD | 58,348 | 29.4 | 4.50 | — | 14.5 | — | 20.9 | 57.7 |
| 360 ONE WAM LIMITED | 39,572 | 31.3 | 4.02 | — | 12.4 | — | 22.0 | 66.8 |
| NUVAMA WEALTH MANAGE LTD | 30,763 | 14.5 | 7.46 | — | 25.2 | — | — | 53.0 |
| ANGEL ONE LIMITED | 26,419 | 4.9 | 4.30 | — | 14.9 | — | 32.4 | 34.2 |
| IIFL CAPITAL SERVICES LTD | 10,720 | 18.6 | 3.49 | — | 18.4 | — | 25.1 | 50.0 |
| SHARE IND. SECURITIES LTD | 3,868 | 10.7 | 1.46 | — | 12.2 | — | 26.8 | 45.5 |
| ANAND RATHI SH N STK BR L | 2,955 | 18.6 | 2.19 | 9.7 | 9.6 | 11.5 | — | 31.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.3 | 15.1 | 11 of 33 | 69% |
| P/B | 1.0 | 1.7 | 10 of 40 | 77% |
| ROE | 10.1 | 9.6 | 18 of 40 | 56% |
| EBITDA margin | 22.6 | 31.2 | 28 of 39 | 29% |
| Revenue growth | 24.3 | 22.4 | 15 of 35 | 59% |
| Profit growth | (16.1) | 13.4 | 32 of 38 | 16% |
| Market cap | 106 | 409 | 31 of 42 | 27% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board to review Q2 and half-year results on November 2 | board shareholder meetings | low | — | — |
| 9 Oct 2026 · Routine SEBI Regulation 74(5) compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed for insiders from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 18 Sept 2026 · Newspaper notice on special window for physical share re-lodgment and dematerialisation | compliance | minimal | — | — |
| 20 Aug 2026 · L K P Securities CFO resigns; effective Oct 31, 2026 | management changes | high | — | — |
| 18 Aug 2026 · NSE permits LKP Securities shares in PTT category | general | low | — | — |
| 7 Aug 2026 · LKP Securities Q1 FY27 results: profit drops 85% YoY to Rs 62.67 lakh | compliance | minimal | — | — |
| 5 Aug 2026 · LKP Securities Q1 FY27 PAT drops 85% YoY standalone, revenue down 12% | results | high | — | — |
| 5 Aug 2026 · LKP Securities Q1 FY26 results: PAT drops sharply to Rs 62.67 lakhs | results | high | — | — |
| 5 Aug 2026 · LKP Securities Q1 PAT falls 85% YoY to Rs 62.67 lakh on weaker revenue | results | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.