Hyderabad, July 31, 2023: KFin Technologies Limited announced its financial results for the quarter ended 30th June 2023 today.

Financial Highlights – Q1FY24

− Revenue from operations stood at ₹ 1,815.0 million, up 7.6% y-o-y

− EBITDA stood at ₹ 704.3 million, up 12.8% y-o-y, EBITDA margin at 38.8% in Q1FY24 vs. 37.0% in Q1FY23

− PAT at ₹ 433.8 million, up 15.9% y-o-y, PAT margin at 23.9% in Q1FY24 vs. 22.2% in Q1FY23

− Diluted EPS stood at ₹ 2.51, up 13.3% y-o-y

− Cash and cash equivalents at ₹ 3,197.6 million as on June 30, 2023

− Non-domestic mutual fund revenue share in overall revenue is at 29% in Q1FY24

Business Highlights – Q1FY24

− Overall AAUM1 growth at 14.5% y-o-y vs. 14.2% for the industry, market share1 at 31.3%

− Equity AAUM1 growth at 15.5% y-o-y vs. 17.3% for the industry, market share1 at 34.4%

− New client Bajaj Finserv Asset Management Ltd went live in June 2023

− Added 158 new corporate clients under issuer solutions, managed 4 out of 7 mainboard IPOs during the quarter, market share2 in NSE500 companies at 46.5%

− Appointed as the RTA for Jio Financial Services Limited in July 2023

− Won RTA mandate from a new client in Malaysia and Singapore each, won 28 new funds from an existing client in Philippines for RTA services, onboarded 5 new clients in Gift City (India)

− Won our maiden fund administration contract in Thailand in July 2023

− No of alternate funds3 at 416, market share3 at 36.4%

− NPS subscriber base grew to ~1.00 million, up by 24.1% y-o-y vs. 12.9% y-o-y growth for the industry

Commenting on the company’s performance, Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited said, “We continue to execute our business plans with strong and definitive focus on building a diversified global fund administrator. Our growth continues to be a secular one with strong performance across business lines aiding a better first quarter, weighed against our estimations, in terms of sales, revenue, and margin delivery. With an excellent sales performance in the first quarter and a strong pipeline, we are confident of yielding better performance from all the business lines especially from the younger and faster- growing segments as we move into the subsequent quarters. Our recent wins in Canada, Singapore and Thailand are testimony to our technology platform finesse and strong business development efforts to position KFintech as a global fund administrator from India.”

“KFintech is a technology-led platform-based company and we are committed to use frugal and agile engineering to build innovative solutions for global asset managers by running an efficient and optimized operation.” He added.

KEY FIGURES                                                                         ₹ Million

  Q1 FY24 Q4 FY23 Q1 FY23 FY23
Revenue 1,815.0 1,831.3 1,686.1 7,200.3
EBITDA 704.3 838.3 624.3 2,980.4
EBITDA margin % 38.8% 45.8% 37.0% 41.4%
Profit After Tax (PAT) 433.8 570.2 374.3 1,957.4
PAT margin % 23.9% 31.1% 22.2% 27.2%
Diluted EPS (₹)* 2.51 3.32 2.22 11.52

*Not annualized

(1) Last quarter average; (2) As on June 30, 2023, based on market capitalization; (3) As on June 30, 2023