About Khandwala Securities Limited

Khandwala Securities Limited (KSL) is a public limited company incorporated under the Companies Act, 1956, with its registered office at Dalamal House, Nariman Point, Mumbai – 400021. The Company’s equity shares are listed on both BSE and NSE, underscoring its long-standing presence in the Indian capital markets.

KSL’s core focus lies in financial services, offering an integrated suite of:

• Stock Broking Services
• Investment Banking
• Portfolio Management Services (PMS)
• Research Analysis
• Investment Advisory Services

The Company is registered with SEBI as a stock broker, acts as a Depository Participant with Central Depository Services (India) Limited (CDSL), and is a member of both BSE and NSE.

Its operations are organised into four key business verticals:

1. Investment Banking: Capital raising, M&A advisory, domestic IPOs, private equity placements, restructuring, FCCBs and GDRs.
2. Institutional Equities: Equity sales, execution and research services to institutional clients.
3. Broking & Distribution: Non-institutional equity sales, trading, research, broking, distribution and depository participant services.
4. Investment Advisory: Private and corporate wealth management and portfolio management solutions.

Client Base and Market Position

KSL serves a diversified clientele that includes public and private sector corporations, multinational corporations, financial institutions, domestic and foreign institutional investors (FIIs), high-net-worth individuals (HNIs), and retail investors.

As of March 31, 2025, the Company reported no subsidiaries but maintained a 43.41% stake in one associate company. Its research franchise enjoys strong visibility, with reports available on Bloomberg and Thomson Reuters, and has been ranked among the best by international providers, enhancing its industry reputation and credibility.

KSL’s operations are entirely domestic, with no overseas revenue contribution, aligning with its SEBI registrations and Indian market focus. Over the years, the Company has built a comprehensive platform combining advisory-led broking, investment banking, and portfolio management, strengthened by exchange memberships and regulatory accreditations.

Business Segments

• Brokerage:
  Brokerage services, including equity and debt broking supported by research, accounted for approximately 28.79% of total revenues for the year ended March 31, 2025.
• Geography:
  The Company’s business operations are conducted entirely within India, with 100% domestic revenue and no international operations.

Khandwala Securities Limited Key Management

• Homiar N. Vakil – Chairman
• Paresh J. Khandwala – Managing Director
• Pranav Khandwala – Whole-Time Director & Chief Financial Officer
• Abhishek Joshi – Company Secretary

Latest Updates on Khandwala Securities Limited

Broking and Institutional Business:
During FY 2024–25, KSL strengthened its research-backed broking and institutional dealing capabilities, adding a significant number of new trading accounts across Cash, Wholesale Debt Market, and Futures & Options segments. The brokerage and derivatives desks catered to a diversified client base including FIIs and domestic institutions, with over 10 active institutional investors trading regularly through the platform.

Research and Analytics:
KSL continued to enhance its research franchise, disseminating daily market reports, sectoral outlooks, and strategy notes. Its research content remained accessible on Bloomberg and Thomson Reuters, bolstering execution and engagement across institutional sales and trading.

Investment Banking:
The Company maintained a full-service offering across IPOs, follow-on and rights issues, private placements, ADRs/GDRs, QIPs, and convertibles. It indicated plans to revive delayed transactions as market sentiment improves, focusing on mid-market capital-raising mandates.

Portfolio Management & Advisory:
KSL expanded its Portfolio Management Services (PMS) and Investment Advisory practices, with dedicated models for the NRI community and customised advisory solutions in asset allocation, wealth preservation, and financial planning. The Company aims to grow its assets under management (AUM) through differentiated service offerings.

Financial Performance:
For FY 2024–25, consolidated revenue increased by 73.89% year-on-year, with brokerage contributing 28.79% of total consolidated income. The improvement reflected higher trading activity, increased institutional participation, and steady growth in advisory services.