Keynote Financial Services Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 3, 2025, 1:13 am

Market Cap	238 Cr.
Current Price	339
High / Low	403/157
Stock P/E	8.96
Book Value	200
Dividend Yield	0.29 %
ROCE	31.7 %
ROE	24.1 %
Face Value	10.0
PEG Ratio	0.48

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Keynote Financial Services Ltd

Competitors of Keynote Financial Services Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
My Money Securities Ltd	42.8 Cr.	25.5	69.2/0.00	4.10	18.5	0.00 %	12.0 %	11.3 %	10.0
Nam Securities Ltd	52.4 Cr.	97.1	198/92.5	187	21.2	0.00 %	4.16 %	3.05 %	10.0
ICDS Ltd	61.6 Cr.	43.9	76.2/32.5	70.0	22.2	0.00 %	9.12 %	7.69 %	10.0
HCKK Ventures Ltd	61.1 Cr.	165	165/77.4	291	11.6	0.00 %	8.17 %	6.44 %	10.0
Ujjivan Financial Services Ltd	7,179 Cr.	590	593/511	8.75	299	0.59 %	10.3 %	32.1 %	10.0
Industry Average	16,468.95 Cr	1,632.08		42.97	4,559.44	0.41%	9.56%	11.97%	7.88

All Competitor Stocks of Keynote Financial Services Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	5.05	6.74	-2.11	5.23	5.55	5.40	11.05	8.52	13.95	13.56	12.22	11.28	6.65
Expenses	2.50	4.25	2.78	2.43	2.56	7.34	2.83	2.64	3.19	4.15	3.58	3.55	3.18
Operating Profit	2.55	2.49	-4.89	2.80	2.99	-1.94	8.22	5.88	10.76	9.41	8.64	7.73	3.47
OPM %	50.50%	36.94%		53.54%	53.87%	-35.93%	74.39%	69.01%	77.13%	69.40%	70.70%	68.53%	52.18%
Other Income	0.53	1.25	0.55	0.42	0.47	0.43	0.39	0.58	0.61	0.71	0.42	0.63	0.51
Interest	0.23	0.34	0.07	0.01	0.10	0.08	0.04	0.14	0.03	0.08	0.02	0.05	0.09
Depreciation	0.18	0.17	0.15	0.22	0.12	0.14	0.16	0.26	0.17	0.19	0.20	0.22	0.21
Profit before tax	2.67	3.23	-4.56	2.99	3.24	-1.73	8.41	6.06	11.17	9.85	8.84	8.09	3.68
Tax %	10.11%	17.65%	-28.73%	26.09%	23.77%	81.50%	23.66%	25.58%	22.38%	16.75%	28.73%	29.05%	20.38%
Net Profit	2.41	2.66	-3.25	2.32	2.81	-3.51	7.17	5.49	9.77	4.35	7.91	8.71	5.63
EPS in Rs	3.43	3.79	-4.63	3.31	4.00	-5.00	10.22	7.82	13.92	6.20	11.27	12.41	8.02

Last Updated: February 28, 2025, 6:54 pm

Below is a detailed analysis of the quarterly data for Keynote Financial Services Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is ₹6.65 Cr.. The value appears to be declining and may need further review. It has decreased from 11.28 Cr. (Sep 2024) to ₹6.65 Cr., marking a decrease of 4.63 Cr..
For Expenses, as of Dec 2024, the value is ₹3.18 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 3.55 Cr. (Sep 2024) to ₹3.18 Cr., marking a decrease of 0.37 Cr..
For Operating Profit, as of Dec 2024, the value is ₹3.47 Cr.. The value appears to be declining and may need further review. It has decreased from 7.73 Cr. (Sep 2024) to ₹3.47 Cr., marking a decrease of 4.26 Cr..
For OPM %, as of Dec 2024, the value is 52.18%. The value appears to be declining and may need further review. It has decreased from 68.53% (Sep 2024) to 52.18%, marking a decrease of 16.35%.
For Other Income, as of Dec 2024, the value is ₹0.51 Cr.. The value appears to be declining and may need further review. It has decreased from 0.63 Cr. (Sep 2024) to ₹0.51 Cr., marking a decrease of 0.12 Cr..
For Interest, as of Dec 2024, the value is ₹0.09 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 0.05 Cr. (Sep 2024) to ₹0.09 Cr., marking an increase of 0.04 Cr..
For Depreciation, as of Dec 2024, the value is ₹0.21 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 0.22 Cr. (Sep 2024) to ₹0.21 Cr., marking a decrease of 0.01 Cr..
For Profit before tax, as of Dec 2024, the value is ₹3.68 Cr.. The value appears to be declining and may need further review. It has decreased from 8.09 Cr. (Sep 2024) to ₹3.68 Cr., marking a decrease of 4.41 Cr..
For Tax %, as of Dec 2024, the value is 20.38%. The value appears to be improving (decreasing) as expected. It has decreased from 29.05% (Sep 2024) to 20.38%, marking a decrease of 8.67%.
For Net Profit, as of Dec 2024, the value is ₹5.63 Cr.. The value appears to be declining and may need further review. It has decreased from 8.71 Cr. (Sep 2024) to ₹5.63 Cr., marking a decrease of 3.08 Cr..
For EPS in Rs, as of Dec 2024, the value is 8.02. The value appears to be declining and may need further review. It has decreased from 12.41 (Sep 2024) to 8.02, marking a decrease of 4.39.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 3:44 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	33	20	16	23	25	20	13	11	23	32	16	49	44
Expenses	21	14	9	13	10	10	13	14	8	11	15	13	14
Operating Profit	12	6	7	10	14	10	0	-3	15	20	1	36	29
OPM %	37%	31%	42%	42%	58%	50%	2%	-23%	66%	64%	5%	73%	67%
Other Income	0	1	0	0	0	-0	1	0	0	0	0	0	2
Interest	5	2	4	3	3	2	1	1	1	1	0	0	0
Depreciation	1	1	1	1	4	1	1	1	1	1	1	1	1
Profit before tax	7	4	3	6	7	7	-1	-4	13	19	-0	35	30
Tax %	29%	31%	33%	31%	23%	21%	20%	-3%	15%	14%	3,320%	22%
Net Profit	5	3	2	4	6	6	-1	-4	11	16	-2	27	27
EPS in Rs	6.97	4.30	2.41	6.41	8.22	8.14	-1.51	-6.01	16.06	22.91	-2.32	38.17	37.90
Dividend Payout %	17%	18%	33%	12%	10%	20%	-53%	-13%	5%	3%	-34%	2%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-40.00%	-33.33%	100.00%	50.00%	0.00%	-116.67%	-300.00%	375.00%	45.45%	-112.50%	1450.00%
Change in YoY Net Profit Growth (%)	0.00%	6.67%	133.33%	-50.00%	-50.00%	-116.67%	-183.33%	675.00%	-329.55%	-157.95%	1562.50%

Keynote Financial Services Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	9%
5 Years:	30%
3 Years:	30%
TTM:	12%

Compounded Profit Growth
10 Years:	28%
5 Years:	94%
3 Years:	33%
TTM:	41%

Stock Price CAGR
10 Years:	28%
5 Years:	62%
3 Years:	45%
1 Year:	104%

Return on Equity
10 Years:	8%
5 Years:	11%
3 Years:	14%
Last Year:	24%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 9:32 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	6	6	6	6	6	6	6	6	6	6	6	6	6
Reserves	54	56	57	61	67	72	73	68	79	95	93	119	135
Borrowings	34	10	21	12	13	13	20	22	26	28	2	1	3
Other Liabilities	46	50	15	23	65	14	9	24	9	11	9	15	20
Total Liabilities	139	122	98	101	150	105	108	119	121	139	110	140	164
Fixed Assets	26	24	23	23	19	18	18	17	17	16	17	17	17
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	1	1	6	18	24	35	34	28	44	62	60	84	107
Other Assets	113	96	69	60	108	52	56	74	60	61	33	40	40
Total Assets	139	122	98	101	150	105	108	119	121	139	110	140	164

Below is a detailed analysis of the balance sheet data for Keynote Financial Services Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹6.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 6.00 Cr..
For Reserves, as of Sep 2024, the value is ₹135.00 Cr.. The value appears strong and on an upward trend. It has increased from 119.00 Cr. (Mar 2024) to ₹135.00 Cr., marking an increase of 16.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹3.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 1.00 Cr. (Mar 2024) to ₹3.00 Cr., marking an increase of 2.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹20.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 15.00 Cr. (Mar 2024) to ₹20.00 Cr., marking an increase of 5.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹164.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 140.00 Cr. (Mar 2024) to ₹164.00 Cr., marking an increase of 24.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹17.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 17.00 Cr..
For CWIP, as of Sep 2024, the value is ₹0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 0.00 Cr..
For Investments, as of Sep 2024, the value is ₹107.00 Cr.. The value appears strong and on an upward trend. It has increased from 84.00 Cr. (Mar 2024) to ₹107.00 Cr., marking an increase of 23.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹40.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 40.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹164.00 Cr.. The value appears strong and on an upward trend. It has increased from 140.00 Cr. (Mar 2024) to ₹164.00 Cr., marking an increase of 24.00 Cr..

Notably, the Reserves (₹135.00 Cr.) exceed the Borrowings (3.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	17	-10	-4	17	-12	5	-4	16	-9	-13	21	6
Cash from Investing Activity +	10	8	-3	-7	7	-1	5	1	-16	22	-3	-4
Cash from Financing Activity +	-2	-2	-3	-1	-4	-3	1	-0	4	-0	-26	-3
Net Cash Flow	24	-4	-10	9	-8	2	2	17	-21	9	-8	-1

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-22.00	-4.00	-14.00	-2.00	1.00	-3.00	-20.00	-25.00	-11.00	-8.00	-1.00	35.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	108	142	116	99	704	114	104	129	17	28	65	69
Inventory Days
Days Payable
Cash Conversion Cycle	108	142	116	99	704	114	104	129	17	28	65	69
Working Capital Days	147	-0	588	19	196	221	195	-478	-38	107	158	87
ROCE %	14%	7%	8%	11%	12%	11%	0%	-3%	14%	17%	0%	32%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	57.88%	57.88%	56.43%	56.42%	56.42%	56.42%	56.42%	56.42%	56.42%	56.42%	56.42%	57.01%
FIIs	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%	7.35%
Public	34.77%	34.77%	36.22%	36.22%	36.22%	36.22%	36.22%	36.23%	36.22%	36.22%	36.22%	35.64%
No. of Shareholders	3,595	3,875	3,787	3,739	3,653	3,580	3,572	3,760	3,881	4,060	3,941	4,455

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	49.94	-3.07	28.89	20.25	-7.59
Diluted EPS (Rs.)	49.94	-3.07	28.89	20.25	-7.59
Cash EPS (Rs.)	51.34	-1.94	30.14	21.56	-6.22
Book Value[Excl.RevalReserv]/Share (Rs.)	223.27	176.26	180.63	152.60	131.62
Book Value[Incl.RevalReserv]/Share (Rs.)	223.27	176.26	180.63	152.60	131.62
Revenue From Operations / Share (Rs.)	85.01	25.30	51.65	36.19	15.57
PBDIT / Share (Rs.)	65.67	1.50	36.91	27.12	-4.28
PBIT / Share (Rs.)	64.27	0.36	35.66	25.82	-5.64
PBT / Share (Rs.)	63.75	-0.09	33.54	23.86	-7.83
Net Profit / Share (Rs.)	49.94	-3.07	28.89	20.25	-7.59
NP After MI And SOA / Share (Rs.)	48.12	-2.93	28.89	20.25	-7.59
PBDIT Margin (%)	77.24	5.91	71.45	74.94	-27.47
PBIT Margin (%)	75.60	1.44	69.04	71.33	-36.25
PBT Margin (%)	74.98	-0.36	64.92	65.92	-50.31
Net Profit Margin (%)	58.74	-12.14	55.93	55.96	-48.73
NP After MI And SOA Margin (%)	56.60	-11.57	55.93	55.96	-48.73
Return on Networth / Equity (%)	21.55	-1.66	15.99	13.27	-5.76
Return on Capital Employeed (%)	26.50	0.19	18.36	16.04	-4.11
Return On Assets (%)	19.14	-1.48	11.53	9.34	-3.54
Total Debt / Equity (X)	0.01	0.02	0.26	0.30	0.29
Asset Turnover Ratio (%)	0.37	0.05	0.07	0.10	0.05
Current Ratio (X)	24.76	16.05	3.90	1.91	1.71
Quick Ratio (X)	24.76	16.02	3.89	1.90	1.71
Dividend Payout Ratio (NP) (%)	0.00	-34.15	3.46	4.93	-16.67
Dividend Payout Ratio (CP) (%)	0.00	-55.68	3.31	4.63	-20.34
Earning Retention Ratio (%)	0.00	134.15	96.54	95.07	116.67
Cash Earning Retention Ratio (%)	0.00	155.68	96.69	95.37	120.34
Interest Coverage Ratio (X)	125.49	3.27	17.36	13.85	-1.95
Interest Coverage Ratio (Post Tax) (X)	96.44	-5.71	14.59	11.34	-2.46
Enterprise Value (Cr.)	68.65	36.21	66.21	21.87	2.40
EV / Net Operating Revenue (X)	1.45	2.57	2.30	1.09	0.27
EV / EBITDA (X)	1.88	43.45	3.22	1.45	-1.01
MarketCap / Net Operating Revenue (X)	1.69	3.33	2.09	1.51	2.76
Retention Ratios (%)	0.00	134.15	96.53	95.06	116.67
Price / BV (X)	0.64	0.47	0.59	0.35	0.32
Price / Net Operating Revenue (X)	1.69	3.33	2.09	1.51	2.76
EarningsYield	0.33	-0.03	0.26	0.37	-0.17

After reviewing the key financial ratios for Keynote Financial Services Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 49.94. This value is within the healthy range. It has increased from -3.07 (Mar 23) to 49.94, marking an increase of 53.01.
For Diluted EPS (Rs.), as of Mar 24, the value is 49.94. This value is within the healthy range. It has increased from -3.07 (Mar 23) to 49.94, marking an increase of 53.01.
For Cash EPS (Rs.), as of Mar 24, the value is 51.34. This value is within the healthy range. It has increased from -1.94 (Mar 23) to 51.34, marking an increase of 53.28.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 223.27. It has increased from 176.26 (Mar 23) to 223.27, marking an increase of 47.01.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 223.27. It has increased from 176.26 (Mar 23) to 223.27, marking an increase of 47.01.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 85.01. It has increased from 25.30 (Mar 23) to 85.01, marking an increase of 59.71.
For PBDIT / Share (Rs.), as of Mar 24, the value is 65.67. This value is within the healthy range. It has increased from 1.50 (Mar 23) to 65.67, marking an increase of 64.17.
For PBIT / Share (Rs.), as of Mar 24, the value is 64.27. This value is within the healthy range. It has increased from 0.36 (Mar 23) to 64.27, marking an increase of 63.91.
For PBT / Share (Rs.), as of Mar 24, the value is 63.75. This value is within the healthy range. It has increased from -0.09 (Mar 23) to 63.75, marking an increase of 63.84.
For Net Profit / Share (Rs.), as of Mar 24, the value is 49.94. This value is within the healthy range. It has increased from -3.07 (Mar 23) to 49.94, marking an increase of 53.01.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 48.12. This value is within the healthy range. It has increased from -2.93 (Mar 23) to 48.12, marking an increase of 51.05.
For PBDIT Margin (%), as of Mar 24, the value is 77.24. This value is within the healthy range. It has increased from 5.91 (Mar 23) to 77.24, marking an increase of 71.33.
For PBIT Margin (%), as of Mar 24, the value is 75.60. This value exceeds the healthy maximum of 20. It has increased from 1.44 (Mar 23) to 75.60, marking an increase of 74.16.
For PBT Margin (%), as of Mar 24, the value is 74.98. This value is within the healthy range. It has increased from -0.36 (Mar 23) to 74.98, marking an increase of 75.34.
For Net Profit Margin (%), as of Mar 24, the value is 58.74. This value exceeds the healthy maximum of 10. It has increased from -12.14 (Mar 23) to 58.74, marking an increase of 70.88.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 56.60. This value exceeds the healthy maximum of 20. It has increased from -11.57 (Mar 23) to 56.60, marking an increase of 68.17.
For Return on Networth / Equity (%), as of Mar 24, the value is 21.55. This value is within the healthy range. It has increased from -1.66 (Mar 23) to 21.55, marking an increase of 23.21.
For Return on Capital Employeed (%), as of Mar 24, the value is 26.50. This value is within the healthy range. It has increased from 0.19 (Mar 23) to 26.50, marking an increase of 26.31.
For Return On Assets (%), as of Mar 24, the value is 19.14. This value is within the healthy range. It has increased from -1.48 (Mar 23) to 19.14, marking an increase of 20.62.
For Total Debt / Equity (X), as of Mar 24, the value is 0.01. This value is within the healthy range. It has decreased from 0.02 (Mar 23) to 0.01, marking a decrease of 0.01.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.37. It has increased from 0.05 (Mar 23) to 0.37, marking an increase of 0.32.
For Current Ratio (X), as of Mar 24, the value is 24.76. This value exceeds the healthy maximum of 3. It has increased from 16.05 (Mar 23) to 24.76, marking an increase of 8.71.
For Quick Ratio (X), as of Mar 24, the value is 24.76. This value exceeds the healthy maximum of 2. It has increased from 16.02 (Mar 23) to 24.76, marking an increase of 8.74.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 0.00. This value is below the healthy minimum of 20. It has increased from -34.15 (Mar 23) to 0.00, marking an increase of 34.15.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 0.00. This value is below the healthy minimum of 20. It has increased from -55.68 (Mar 23) to 0.00, marking an increase of 55.68.
For Earning Retention Ratio (%), as of Mar 24, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 134.15 (Mar 23) to 0.00, marking a decrease of 134.15.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 155.68 (Mar 23) to 0.00, marking a decrease of 155.68.
For Interest Coverage Ratio (X), as of Mar 24, the value is 125.49. This value is within the healthy range. It has increased from 3.27 (Mar 23) to 125.49, marking an increase of 122.22.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 96.44. This value is within the healthy range. It has increased from -5.71 (Mar 23) to 96.44, marking an increase of 102.15.
For Enterprise Value (Cr.), as of Mar 24, the value is 68.65. It has increased from 36.21 (Mar 23) to 68.65, marking an increase of 32.44.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 1.45. This value is within the healthy range. It has decreased from 2.57 (Mar 23) to 1.45, marking a decrease of 1.12.
For EV / EBITDA (X), as of Mar 24, the value is 1.88. This value is below the healthy minimum of 5. It has decreased from 43.45 (Mar 23) to 1.88, marking a decrease of 41.57.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 1.69. This value is within the healthy range. It has decreased from 3.33 (Mar 23) to 1.69, marking a decrease of 1.64.
For Retention Ratios (%), as of Mar 24, the value is 0.00. This value is below the healthy minimum of 30. It has decreased from 134.15 (Mar 23) to 0.00, marking a decrease of 134.15.
For Price / BV (X), as of Mar 24, the value is 0.64. This value is below the healthy minimum of 1. It has increased from 0.47 (Mar 23) to 0.64, marking an increase of 0.17.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 1.69. This value is within the healthy range. It has decreased from 3.33 (Mar 23) to 1.69, marking a decrease of 1.64.
For EarningsYield, as of Mar 24, the value is 0.33. This value is below the healthy minimum of 5. It has increased from -0.03 (Mar 23) to 0.33, marking an increase of 0.36.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Keynote Financial Services Ltd as of April 3, 2025 is: 346.50

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 3, 2025, Keynote Financial Services Ltd is Undervalued by 2.21% compared to the current share price 339.00

Intrinsic Value of Keynote Financial Services Ltd as of April 3, 2025 is: 411.42

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 3, 2025, Keynote Financial Services Ltd is Undervalued by 21.36% compared to the current share price 339.00

Last 5 Year EPS CAGR: 18.73%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (79.15 cr) compared to borrowings (15.77 cr), indicating strong financial stability. The company has shown consistent growth in sales (25.00 cr) and profit (9.69 cr) over the years.	The stock has a low average ROCE of 10.25%, which may not be favorable. The stock has a high average Working Capital Days of 100.17, which may not be favorable. The stock has a high average Cash Conversion Cycle of 141.25, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Keynote Financial Services Ltd:
1. Net Profit Margin: 58.74%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 26.5% (Industry Average ROCE: 9.56%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 21.55% (Industry Average ROE: 11.97%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 96.44
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 24.76
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 8.96 (Industry average Stock P/E: 42.97)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.01
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Keynote Financial Services Ltd. is a Public Limited Listed company incorporated on 16/06/1993 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L67120MH1993PLC072407 and registration number is 072407. Currently Company is involved in the business activities of Other financial service activities, except insurance and pension funding activities. Company's Total Operating Revenue is Rs. 24.67 Cr. and Equity Capital is Rs. 7.02 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Finance & Investments	The Ruby, 9th Floor, Mumbai Maharashtra 400028	investors@keynoteindia.net http://www.keynoteindia.net

Management
Name	Position Held
Mr. Vineet Suchanti	Managing Director & CFO
Mr. Rakesh Choudhari	Non Exe.Non Ind.Director
Mr. Shishir Dalal	Independent Director
Mr. Riaz Taher Thingna	Independent Director
Mr. Ravindranath Cheerakuzhi Puthan Menon	Independent Director
Mrs. Rinku Suchanti	Director

FAQ

What is the intrinsic value of Keynote Financial Services Ltd?

Keynote Financial Services Ltd's intrinsic value (as of 02 April 2025) is ₹346.50 — 2.21% higher the current market price of ₹339.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's 238 Cr. market cap, FY2025-2026 high/low of ₹403/157, reserves of 135 Cr, and liabilities of 164 Cr.

What is the Market Cap of Keynote Financial Services Ltd?

The Market Cap of Keynote Financial Services Ltd is 238 Cr..

What is the current Stock Price of Keynote Financial Services Ltd as on 02 April 2025?

The current stock price of Keynote Financial Services Ltd as on 02 April 2025 is 339.

What is the High / Low of Keynote Financial Services Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Keynote Financial Services Ltd stocks is ₹403/157.

What is the Stock P/E of Keynote Financial Services Ltd?

The Stock P/E of Keynote Financial Services Ltd is 8.96.

What is the Book Value of Keynote Financial Services Ltd?

The Book Value of Keynote Financial Services Ltd is 200.

What is the Dividend Yield of Keynote Financial Services Ltd?

The Dividend Yield of Keynote Financial Services Ltd is 0.29 %.

What is the ROCE of Keynote Financial Services Ltd?

The ROCE of Keynote Financial Services Ltd is 31.7 %.

What is the ROE of Keynote Financial Services Ltd?

The ROE of Keynote Financial Services Ltd is 24.1 %.

What is the Face Value of Keynote Financial Services Ltd?

The Face Value of Keynote Financial Services Ltd is 10.0.