Khaitan (India) Ltd (KHAITANLTD)

Services · Trading · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹149.6 ↑ 39.94% (1Y)

🎯 Key Takeaways

Khaitan (India) Ltd is a mature, cash-generative trading company operating in the services sector with a strong focus on shareholder returns and governance stability. The business shows consistent profitability and low leverage, supported by a stable promoter stake and minimal institutional interest.
Revenue grew 14.6% QoQ to ₹41 in Q1FY27.
⚠️ Overreliance on trading activities in a volatile sector with thin margins and intense competition poses execution and demand risks.

Market Cap

₹71

P/E Ratio

10.2

P/B Ratio

2.59

ROE

25.3%

ROCE

22.1%

Debt/Equity

0.39

Promoter

60.2%

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📖 The Story

Khaitan (India) Ltd is a mature, cash-generative trading company operating in the services sector with a strong focus on shareholder returns and governance stability. The business shows consistent profitability and low leverage, supported by a stable promoter stake and minimal institutional interest. Management is currently in a consolidation and compliance phase, emphasizing procedural rigor around its upcoming AGM and director re-appointments.

📰 What's Happening

Management has been focused on procedural and governance matters ahead of the 89th Annual General Meeting scheduled for 25 September 2026, where FY2025-26 financials will be adopted and Mr. Gopal Mor will be re-appointed as Independent Director for a second term ending 30 September 2031. The board approved the AGM notice, book closure from 19 to 25 September 2026, and set a record date of 18 September 2026 for e-voting. CDSL has been appointed as the e-voting agency, and shareholders must vote remotely via NSDL and CDSL platforms between 22 and 24 September 2026. The resignation of Company Secretary Chandra Nath Banerjee, effective 6 September 2026, was also accepted. These actions reflect a disciplined, compliance-driven approach to shareholder engagement and regulatory adherence.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	20	27	36	41
Operating Profit	1	2	3	3
OPM %	3.3%	6.0%	7.8%	6.2%
Net Profit	0	1	3	2
EPS	₹0.72	₹2.58	₹6.15	₹5.16

The company has demonstrated steady revenue and margin expansion over the past four quarters, with revenue growing from ₹20 crore in September 2025 to ₹41 crore in June 2026, accompanied by improving operating and net margins. Operating profit rose from ₹1 crore to ₹3 crore, while net profit increased from ₹0 to ₹3 crore, reflecting operational efficiency and scale. EPS grew from ₹0.72 to ₹5.16 over the same period, indicating strong bottom-line momentum. This upward trajectory aligns with a business scaling steadily, likely benefiting from market demand and operational discipline, with no signs of margin erosion or revenue contraction.

🔮 Management Outlook & What's Next

Management has not provided explicit forward-looking guidance on growth, margins, or capital allocation in the reviewed filings. The focus remains on procedural completion of the AGM, adoption of audited financials, and governance updates, including director re-appointment and e-voting infrastructure setup. There is no indication of new strategic initiatives or business expansion plans in the disclosed content, suggesting a near-term emphasis on compliance and shareholder communication rather than transformative growth.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2023	Mar 2026
Equity Capital	5	5
Reserves	10	29
Borrowings	15	5
Total Liabilities	73	78
Fixed Assets	49	47
Investments	1	5
Total Assets	73	78

The balance sheet shows a stable capital structure with equity and reserves growing from ₹15 crore in March 2023 to ₹34 crore in March 2026, while total assets increased modestly from ₹73 crore to ₹78 crore. Borrowings have declined from ₹15 crore to ₹5 crore, indicating active deleveraging. This suggests management is prioritizing financial resilience and reducing debt, possibly to strengthen net worth or support future capital allocation flexibility, though no major investment or expansion plans are evident from the data.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	+5
Investing	-0
Financing	-3
Net Cash Flow	+1

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	60.2%	60.2%	60.2%	60.2%
FII	0.0%	0.0%	0.0%	0.0%
DII	0.0%	0.0%	0.0%	0.0%
Public	32.2%	32.4%	32.4%	31.9%
# Shareholders	5,858	5,754	5,679	5,571

Promoter holding remains stable at 60.24% across all recent quarters, indicating confidence and continuity. Institutional ownership is negligible, with FII at 0% and DII at just 0.03% in Q1FY27, suggesting limited interest from large investors. The modest increase in public shareholding from 31.9% to 32.37% over the quarters may reflect retail accumulation, but the overall low institutional presence could signal limited analyst coverage or perceived growth constraints.

⚖️ Peer Comparison — Trading

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
ADANIENT	3.88 L Cr	44.4	10.9%	9.1%	1.09
PREMIERENE	46,028	27.3	50.0%	59.3%	0.67
AEGISLOG	42,841	34.2	24.6%	24.4%	0.40
REDINGTON	27,307	16.1	18.4%	14.8%	0.26
HONASA	15,413	61.8	28.3%	21.1%	0.00
504346	11,409	—	-24.9%	-47.5%	0.73
LLOYDSENT	10,901	35.5	7.0%	5.7%	0.17
SGMART	10,525	84.6	11.2%	7.8%	0.14
MMTC	9,344	20.9	42.4%	26.3%	0.00
EBGNG	7,412	52.6	31.3%	62.9%	1.92

🔗 Peer Stock Analyses

ADANIENT PREMIERENE AEGISLOG REDINGTON HONASA

⚠️ Risk Factors

1. Overreliance on trading activities in a volatile sector with thin margins and intense competition poses execution and demand risks. 2. Minimal institutional interest and low trading liquidity could lead to price volatility if sentiment shifts. 3. Governance complexity around virtual AGMs and e-voting compliance may introduce operational or shareholder engagement risks if not managed smoothly. 4. Lack of forward-looking guidance from management limits visibility into growth sustainability and capital deployment plans.

📋 Recent Filings

🧠 Analyst's Read

Khaitan (India) Ltd appears to be a stable, low-debt trading entity with improving profitability and strong promoter backing, but its near-term trajectory is constrained by procedural focus rather than strategic expansion. Investors should monitor the outcome of the September 2026 AGM and any emerging signals on capital allocation or business diversification, as the company currently lacks a clear growth narrative beyond operational consistency.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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