Rikhav Securities Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹191 Cr
- P/E
- 10.03
- ROE
- 8.05%
- PEG
- -5.02
- Price to sales
- 0.09
- Debt to equity
- 0.04
- 52W high / low
- ₹70.8 / ₹37.7
- Sales growth (5Y)
- 144.19%
- EBITDA margin
- 1.64%
- Net profit margin
- 0.95%
- Promoter holding
- 64.06%
- Sales (last year)
- ₹1,992 Cr
Incorporated in 1995, Rikhav Securities Limited is a financial services company in India that offers brokerage, investing, and banking services.[1]
Guidance scorecard · Q4 FY26 call
What Rikhav Securities Ltd's management guided
and where it ranks in Capital Markets
Capital Markets
RevenueQ4 FY26 call
20–40%- Revenue guidance for FY27 is approximately INR 40 crores (full year).
- Expect around 20% growth in brokerage and client acquisition.
- Anticipate 20% to 25% growth in algo trading and delta hedging income.
- Branch/franchise expansion planned at 8-12 new locations annually, prioritizing cautious rollout due to compliance risks.
- Digital marketing to commence after current quarter to target younger demographics and enhance client acquisition.
- Growing institutional business with empanelments including Kotak Mutual Fund, Bank of India, RBL Bank, SBI, LIC, and FPIs.
- Long-term focus on building scalable, diversified, technology-led financial services platform.
2 more points from Rikhav Securities Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Rikhav Securities Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The company has invested approximately INR7.5 to 10 crores over the last two years on technology infrastructure, including computer software systems and technology enhancements.
- Around 30-40% of technology infrastructure is handled in-house, with about 50% outsourced to third-party vendors.
- Current investments focus on upgrading hardware and servers to support low frequency and low latency trading.
- The company plans to continue investing in quantitative trading capabilities, backend automation, research systems, and technology infrastructure to improve operational scalability and execution efficiency.
- No new product launches or strategic initiatives were announced as of the latest call.
- The accounting system and treatment related to stock-in-trade and investments were updated from October 2024 to better reflect trading activities.
2 more points from Rikhav Securities Ltd's call on capex
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FundraisingQ4 FY26 call
See what Rikhav Securities Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- Management highlighted active institutional client onboarding including Kotak Mutual Fund, Bank of India, RBL Bank, and around 8-10 FPIs, with expectations to empanel more large institutions like SBI and LIC.
- The company plans to expand branch/franchise network by 8-12 annually, indicating growth pipeline.
- Revenue guidance for FY27 is around INR 40 crores, with anticipated 20-25% growth in brokerage and algo trading income, signaling a healthy order flow.
- The company also referenced continued investment in technology and market making activities, supporting strong transactional volumes.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Capital Markets
on management's own guidance
- Nippon Life Ind.Good growth2
- BSEGood growth1
- Motil.Oswal.Fin.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Capital Markets companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | BSE | 20–40% | Flat | ₹1.37L Cr | 48.4 |
| 2 | Nippon Life Ind. | 20–40% | Flat | ₹68,184 Cr | 41.6 |
| 3 | Motil.Oswal.Fin. | 20–40% | Flat | ₹63,771 Cr | 32.2 |
| 4 | 20–40% | Flat | ₹31,481 Cr | 29.1 | |
| 5 | 20–40% | Flat | ₹15,334 Cr | 43.8 | |
| 6 | 20–40% | Flat | ₹12,638 Cr | 51.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Capital Markets rankingFinancials of Rikhav Securities Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Rikhav Securities Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Rikhav Securities Ltd
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 36 | 49 | 111 | 328 | 1,976 |
| Expenses + | 17 | 26 | 56 | 293 | 1,959 |
| Operating Profit | 18 | 23 | 55 | 34 | 17 |
| OPM % | 52% | 47% | 50% | 11% | 1% |
| Other Income + | 7 | 5 | 0 | 0 | 16 |
| Interest | 3 | 3 | 3 | 6 | 5 |
| Depreciation | 0 | 0 | 1 | 1 | 1 |
| Profit before tax | 22 | 25 | 51 | 28 | 26 |
| Tax % | 20% | 21% | 18% | 16% | 27% |
| Net Profit + | 18 | 19 | 42 | 24 | 19 |
| EPS in Rs | 35.28 | 12.75 | 28.17 | 6.18 | 4.95 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Rikhav Securities Ltd
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 5 | 15 | 15 | 19 | 19 |
| Reserves | 71 | 80 | 124 | 207 | 226 |
| Borrowings + | 15 | 10 | 40 | 0 | 8 |
| Other Liabilities + | 90 | 83 | 115 | 64 | 145 |
| Total Liabilities | 181 | 188 | 294 | 291 | 398 |
| Fixed Assets + | 1 | 2 | 2 | 2 | 7 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 72 | 98 | 131 | 0 | 0 |
| Other Assets + | 107 | 88 | 161 | 288 | 391 |
| Total Assets | 181 | 188 | 294 | 291 | 398 |
Financials of Rikhav Securities Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | -37 | -9 | 109 | -188 | 65 |
| Cash from Investing Activity + | 76 | 1 | -97 | 140 | -7 |
| Cash from Financing Activity + | -18 | -8 | -3 | 19 | 3 |
| Net Cash Flow | 22 | -17 | 9 | -29 | 61 |
| Free Cash Flow | -38 | -10 | 108 | -189 | 60 |
| CFO/OP | -172% | -24% | 206% | -535% | 435% |
Financials of Rikhav Securities Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 70 | 41 | 14 | 12 | 3 |
| Inventory Days | 160 | 20 | |||
| Days Payable | 90 | 17 | |||
| Cash Conversion Cycle | 70 | 41 | 14 | 82 | 6 |
| Working Capital Days | -819 | -542 | -345 | 73 | 0 |
| ROCE % | 29% | 38% | 17% | 13% |
Guidance history
How Rikhav Securities Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 20–40% | Flat | Planned | — | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | None planned | — |
| Q4 FY25 call → | 0–10% | Up 2%+ | — | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Rikhav Securities Ltd's management said in earlier quarters
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