Khandwala Securities Income Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Total Interest Expense	1.62	0.83	2.14	2.86	6.74	6.88
Net Interest Income	-1.62	-0.83	-2.14	-2.86	-6.74	-6.88
Brokerage Commission	43.55	43.55	46.51	30.45	44.86	29.23
Trading & Principal Transactions	3.22	3.22	3.45	0.41	1.32	6.64
Underwriting & Investment Banking Fee	20.99	48.62	35.21	31.79	14.81	0.1
Other Revenue	-34.24	7.71	1.75	1.81	2.53	1.75
Revenue	31.9	102.27	84.78	61.6	56.78	30.83
Revenue Growth (YoY)	-80.52%	20.63%	37.64%	8.49%	84.17%	5.06%
Salaries & Employee Benefits	34.39	29.76	25.61	24.9	32.86	25.03
Cost of Services Provided	9.99	10.96	4.76	4.24	2.71	2.63
Other Operating Expenses	50.44	103.81	49.15	24.44	17.35	16.88
Total Operating Expenses	98.19	147.97	82.66	56.53	55.78	47.32
Operating Income	-66.29	-45.69	2.12	5.07	0.99	-16.49
Other Non-Operating Income (Expenses)	-0.19	-0.19	-0.49	-0.1	-0.37	-0.49
EBT Excluding Unusual Items	-66.48	-45.88	1.64	4.97	0.62	-16.98
Pretax Income	-18.35	2.25	1.64	4.97	0.62	-16.98
Income Tax Expense	10.5	10.25	-0.1	0.54	-0.57	-0.47
Net Income	-28.85	-8	1.74	4.43	1.19	-16.51
Net Income to Common	-28.85	-8	1.74	4.43	1.19	-16.51
Net Income Growth	-	-	-60.77%	272.57%	-	-
Shares Outstanding (Basic)	15	15	15	15	12	12
Shares Outstanding (Diluted)	15	15	15	15	12	12
Shares Change (YoY)	-0.09%	-	-	27.77%	-0.22%	0.22%
EPS (Basic)	-1.88	-0.52	0.11	0.29	0.10	-1.38
EPS (Diluted)	-1.88	-0.52	0.11	0.29	0.10	-1.38
EPS Growth	-	-	-62.07%	191.04%	-	-
Free Cash Flow	-	40.24	-21.01	-78.26	32.73	-3.36
Free Cash Flow Per Share	-	2.64	-1.38	-5.13	2.74	-0.28
Operating Margin	-207.78%	-44.68%	2.51%	8.23%	1.75%	-53.49%
Profit Margin	-90.41%	-7.83%	2.05%	7.20%	2.10%	-53.56%
Free Cash Flow Margin	-	39.34%	-24.79%	-127.06%	57.64%	-10.91%
Effective Tax Rate	-	456.36%	-	10.78%	-	-
Revenue as Reported	81.72	151.3	87.01	64.86	63.51	37.74

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.