KFin Technologies Q1 Results Review - Tailwinds Continue To Remain Strong In All Segments: ICICI Securities

The brokerage maintains Buy; and revises target price to Rs 946 based on 40 times multiple on FY26E EPS of Rs 23.6.

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ICICI Securities Report

KFIN Technologies Ltd. is a leading technology-driven financial services company that provides comprehensive services and solutions to capital market ecosystem.

All segments are experiencing tailwinds – systematic investments in Indian mutual funds, market share gain in issuer solutions and client wins in international segment.

Its track record has been strong, summarised by its performance over the last four years (FY20–24) with revenue compound annual growth rate of 20% in the domestic MF segment, 21% in issuer solutions and 30% in international and other investor solutions, and FY24 return on equity of 24.7%.

Key risks include adverse impact of TER cuts and lower-than-expected growth in international business.

Click on the attachment to read the full report:

ICICI Securities KFin Technologies Q1FY25 Results Review.pdf
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