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Khandwala Securities Q3 FY26: Swings to Net Loss of ₹48.77 Lakhs as Revenue Drops 61% YoY
Khandwala Securities reported a weak performance for the quarter ended December 31, 2025, swinging to a consolidated net loss of ₹48.77 lakhs from a profit of ₹53.92 lakhs in the previous year. Total revenue from operations saw a sharp decline of 61% YoY, falling to ₹105.53 lakhs. This downturn was primarily driven by a significant contraction in fee-based operations, which dropped from ₹323.10 lakhs in the preceding quarter to just ₹98.80 lakhs. Total expenses of ₹220.98 lakhs outpaced total income, leading to negative margins for the period.
Key Highlights
Consolidated Revenue from Operations fell 60.9% YoY to ₹105.53 lakhs from ₹270.02 lakhs.
Reported a Net Loss of ₹48.77 lakhs for Q3 FY26 compared to a Net Profit of ₹53.92 lakhs in Q3 FY25.
Fee-based operations revenue plummeted 69.4% on a sequential (QoQ) basis to ₹98.80 lakhs.
Total expenses stood at ₹220.98 lakhs, resulting in a loss before tax of ₹49.03 lakhs.
Earnings Per Share (EPS) turned negative at (₹0.32) for the quarter.
💼 Action for Investors
Investors should exercise caution as the core fee-based business has seen a drastic reduction in revenue, leading to operational losses. It is advisable to wait for signs of recovery in transaction volumes or advisory fees before considering new positions.
Khandwala Securities Revises Q2 FY25 Results; Corrects ₹1,045 Lakh Error in Receivables/Payables
Khandwala Securities has issued revised financial results for Q2 and H1 FY25 to correct manual posting errors in its balance sheet. Standalone trade receivables and payables were both significantly reduced by approximately ₹1,045 lakhs to ₹470.06 lakhs and ₹804.57 lakhs, respectively. The company clarified that these adjustments have no impact on the reported profit or loss for the period. For Q2 FY25, the company maintained a standalone net profit of ₹24.32 lakhs, though the half-year (H1) performance resulted in a net loss of ₹34.26 lakhs.
Key Highlights
Standalone Trade Receivables revised downward from ₹1,515.03 lakhs to ₹470.06 lakhs.
Standalone Trade Payables revised downward from ₹1,849.54 lakhs to ₹804.57 lakhs.
Q2 FY25 standalone net profit reported at ₹24.32 lakhs, nearly flat compared to ₹23.62 lakhs YoY.
H1 FY25 standalone performance shows a net loss of ₹34.26 lakhs versus a profit of ₹71.45 lakhs in H1 FY24.
Fee-based operations revenue for Q2 FY25 grew to ₹323.10 lakhs from ₹300.22 lakhs YoY.
💼 Action for Investors
Investors should note that while the bottom line remains unaffected, the significant manual error in balance sheet reporting suggests a need for improved internal financial controls. Monitor the company's ability to return to profitability in the second half of the year following the H1 loss.
KHANDSE: Suzan Vakil Appointment as Independent Director Approved
Khandwala Securities Limited (KHANDSE) announced the successful passing of a special resolution for the appointment of Mrs. Suzan Vakil as an Independent Director. The resolution was approved via postal ballot with a requisite majority. Total of 9,410,673 votes were cast in favor, representing 99.9996% of the total votes polled. Only 37 votes were cast against the resolution. This appointment strengthens the board and signals a commitment to corporate governance.
Key Highlights
Mrs. Suzan Vakil appointed as an Independent Director (DIN:11289012)
9,410,673 votes cast in favor of the resolution
37 votes cast against the resolution
99.9996% of votes polled were in favor
Total of 4615 shareholders as on cut-off date October 31, 2025
💼 Action for Investors
Investors should view this appointment positively as it strengthens the board's oversight. Monitor future board decisions and strategic direction under the new director's guidance.