KFin Technologies Limited announced its financial results for the quarter and nine months ended 31st December 2022 today.
Financial Highlights – Q3FY23
− Revenue from operations stood at ₹ 1,881.3 million, up 12.1% Y-o-Y and 5.0% Q-o-Q
− EBITDA stood at ₹ 807.0 million, up 9.1% Y-o-Y and 13.6% Q-o-Q, EBITDA margin at 42.9%
− PAT at ₹ 533.8 million, up 78.6% Y-o-Y and 11.4% Q-o-Q, PAT margin at 28.4%
− Diluted EPS stood at ₹ 3.15, up 70.5% Y-o-Y and 11.3% Q-o-Q
Financial Highlights – 9MFY23
− Revenue from operations stood at ₹ 5,368.9 million, growth of 17.1% Y-o-Y
− EBITDA stood at ₹ 2,142.0 million, up 4.9% Y-o-Y, EBITDA margin at 39.9%
− PAT at ₹ 1,387.2 million, up 42.0% Y-o-Y, PAT margin at 25.8%
− Cash and cash equivalents at ₹ 2,288 million as on Dec 31, 2022
− Diluted EPS stood at ₹ 8.20, up 29.4% Y-o-Y
Q3FY23 Business Highlights
− Overall AAUM1 growth at 8.5% Y-o-Y compared to 5.4% Y-o-Y growth for the industry
− Equity AAUM growth at 12.8% Y-o-Y compared to 12.4% Y-o-Y growth for the industry
− Overall AAUM market share at 31.7%; Equity AAUM market share stable at 35.0%
− SIP inflows of ₹ 167 billion at life-time high, up 18.6% Y-o-Y; 42% market share in December 2022
− Won our first client in Canada to provide fund administration services
− Won one new mutual fund mandate in India in Feb – 23: Old Bridge Capital Management
− Added 128 corporate clients under issuer solutions; 49.0% market share2 in NSE 500 companies
− Added 47 AIF funds; 33% market share3
− Added 36,035 NPS subscribers; 7.0% market share4; 11.3% market share5 on new subscriber base
Commenting on the company’s performance, Sreekanth Nadella, Managing Director and CEO, KFin Technologies Limited said, “We have closed the quarter and nine months period ended December 31, 2022 with satisfactory performance across all business segments. Despite volatile market conditions, KFin registered strong business outcomes driven by accelerated growth across our diversified businesses. The business performance validates our globally relevant asset management administrator strategy.
Our technology-led innovation & execution to address our client needs, deep product stack, and value- added solutions have helped us to add new clients across segments. As we move forward, we will leverage our differentiated strengths across local and global asset management solutions to add value to our clients, partners, and shareholders”.
“We continue to enjoy market leadership positions across a number of different parameters in our businesses” he added.
KEY FIGURE ₹ Million
| Q3 FY23 | Q2 FY23 | Q3 FY22 | 9M FY23 | 9M FY22 | FY22 | |
| Revenues | 1,881.3 | 1,792.3 | 1,677.5 | 5,368.9 | 4,586.6 | 6,395.1 |
| EBITDA | 807.0 | 710.7 | 739.5 | 2,142.0 | 2,041.1 | 2,878.5 |
| EBITDA margin % | 42.9% | 39.7% | 44.1% | 39.9% | 44.5% | 45.0% |
| Profit After Tax | 533.8 | 479.2 | 298.9 | 1,387.2 | 976.9 | 1,485.5 |
| Profit after tax % | 28.4% | 26.7% | 17.8% | 25.8% | 21.3% | 23.2% |
| Diluted EPS (₹)* | 3.15 | 2.83 | 1.85 | 8.20 | 6.34 | 9.36 |
*Not annualized
(1) Last quarter average for domestic mutual funds; (2) As on December 31, 2022, based on market capitalization; (3) As on December 31, 2022, based on no of AIFs registered with SEBI;
(4) As on December 31, 2022, based on overall subscribers’ base; (5) During Q3FY23, based on new subscriber additions
About KFin Technologies Limited (www.kfintech.com/; BSE: 543720; NSE: KFINTECH):
KFin Technologies Limited (KFintech) is a leading technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem including asset managers and corporate issuers across asset classes in India and provide several investor solutions including transaction origination and processing for mutual funds and private retirement schemes to asset managers in Malaysia, Philippines, Singapore, Hong Kong, and Canada. In India, KFintech is the largest investor solutions provider to asset management companies and the largest issuer solutions provider to listed and unlisted corporates, based on the number of clients serviced. The Company also services nearly one-third alternative investment funds (“AIF”) in India and is one of the three operating central record keeping agencies (“CRAs”) for the National Pension System (“NPS”) in India.
KFintech is listed on the National Stock Exchange of India Limited and BSE Limited. The Company is majority owned by funds managed by General Atlantic Singapore Pte. Ltd (“GASF”), a leading global private equity investor. GASF is the promoter of the KFintech.
