The 60-second version of KBS India Limited — what it does, how it earns, and who it competes with, before any of the numbers below.
What does this company do?
KBS India Limited provide brokerage services in India. The company provides share market brokers and investment in capital markets activities. It also offers equity broking, equity derivatives, IPO & buyback, depository services (CDSL), and SLBM.
IndustryCapital Markets
SectorFinancial Services
Employees18
Annual revenue₹3 Cr
How does it make money?
Turns over ₹3 Cr a year. Of every ₹100 of sales, about ₹3 reaches shareholders as profit, with ₹13 left at the operating level before interest, tax and depreciation. Each of its 18 employees supports ₹16.2 lakh of revenue a year, the signature of a people-led business.
Revenue / employee₹16.2 lakh
Who are its competitors?
The closest listed comparisons in its industry are BAJAJ FINANCE LIMITED, HDFC LIFE INS CO LTD, SBI LIFE INSURANCE CO LTD. These are the companies its valuation and returns are measured against elsewhere in this report.
What is its competitive advantage?Not assessable from these ratios
For a lender, returns on capital are shaped by leverage and funding cost rather than by pricing power, so the usual financial signature of an advantage does not apply. Judge this one on deposit franchise, cost of funds and asset quality — none of which are in this data.
Peer median ROE13.7%
What has been driving growth?
Sales and margins have both contributed to where profit is now. Over 3 years revenue moved +80% while net margin moved -71% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.
Revenue effect+80%
Margin effect-71%
DalalBaazaar Score
55/ 100
Moderate
Weighted across six categories. Every point is explained below.
✗ ROE of 0.2% is weak
Quality vs. Valuation
Company Quality
50/ 100
Average
How good the business is, ignoring the share price entirely.
vs
Valuation
40/ 100
Expensive
What you are being asked to pay, ignoring how good the business is.
A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.
vs. its own history
Not enough price and earnings history
vs. sector peers
Not enough peers with a usable P/E
vs. generic bands
No P/E available
EV/EBITDA
31.4x
PEG
—
What's Good / What's Bad
🟢 What's Going Well1
Consistently profitable
Profitable in every one of the last 4 reported years.
🔴 What Needs Attention2
Receivables growing faster than sales
Receivables are up 1404% against revenue growth of 80% — customers are taking longer to pay.
Inventory building faster than sales
Inventory is up 4570% against revenue growth of 80% — stock may not be moving.
Red Flags
2 items require attention · 2 watch
🟡Profit is decliningFinancial
Net profit is down 49% over 3 years.
🟡Margins are compressingFinancial
EBITDA margin is down 2.4 points over 3 years.
Investment Thesis
🟢 Bull CaseWhat could make this work?
Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.
🔴 Bear CaseWhat could go wrong?
Margins are being competed away
EBITDA margin has fallen from 15.4% to 13.1%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today
1Revenue growth stays above 16% a year✓ 21.7% CAGR
Latest reported year was -17.3%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 11%✓ 13.1%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Return on equity stays above 8%✗ 0.2%
For a lender this is the cleanest single read on whether the book is being grown profitably.
Investment Checklist
3 / 9 checks passed
✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish
Price history
Quick Metrics
2 good · 4 neutral · 5 weak
Market Cap
₹15 Cr
Micro Cap
Smaller company — thin liquidity and deep drawdowns are normal here
P/E (Trailing)
Not available
No data
Source didn't return this field
P/B Ratio
0.36x
Reasonable
Reasonable against the company's book value
EPS (TTM)
₹0
Loss-making
Negative earnings per share — the business is losing money
ROE
0.2%
Weak
Weak capital efficiency
ROCE
0.3%
Weak
Low return on total capital employed
Debt/Equity
Not available
No data
Source didn't return this field
Revenue Growth (YoY)
-17.3%
Shrinking
Sales are contracting
Profit Growth (YoY)
-50.0%
Falling
Profits are shrinking
Dividend Yield
None
None
No dividend yield reported — usually means no payout, but verify if one was recently initiated
Free Cash Flow
₹0 Cr
Cash generative
Generates cash even after funding its capex
More Metrics
Operating Margin
18.0%
Good
Healthy core-business profitability
Net Margin
-2.0%
Weak
Very little revenue reaches the bottom line
Current Ratio
14.32
Comfortable
Healthy short-term liquidity
Beta (vs Nifty)
-0.67
Defensive
Steadier than the market
52W Range Position
25%
Mid-range
Mid-range
Technical Snapshot
SMA 20 / SMA 50
1.3 / 1.3
Bearish alignment (short < long)
Price vs SMA 200
Below
Long-term downtrend
RSI (14)
39.1
Neutral momentum
Financial Trend (4-Year)
Metric
FY23
FY24
FY25
FY26
3Y CAGR
Revenue
₹2 Cr
₹2 Cr
₹3 Cr
₹3 Cr
+21.7%
EBITDA
₹0 Cr
₹1 Cr
₹1 Cr
₹0 Cr
+15.2%
EBITDA Margin
15.4%
39.1%
21.7%
13.1%
—
PAT (Net Profit)
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
-19.8%
EPS
₹0.02
₹0.01
₹0.02
₹0.01
-20.6%
ROE
0.5%
0.2%
0.5%
0.2%
—
ROCE
0.7%
0.5%
1.3%
0.3%
—
Free Cash Flow
-₹2 Cr
₹1 Cr
-₹1 Cr
₹0 Cr
—
🟢 Revenue has grown at 21.7% a year over 3 years.
🟢 EBITDA has grown at 15.2% a year over 3 years.
🔴 EBITDA Margin has fallen from 15.4% to 13.1% over 3 years (-2.4 pts).
🔴 PAT (Net Profit) has shrunk at 19.8% a year over 3 years.
🔴 EPS has shrunk at 20.6% a year over 3 years.
🟡 ROE has held roughly flat at 0.2% over 3 years.
🟡 ROCE has held roughly flat at 0.3% over 3 years.
🟢 Free Cash Flow has turned positive, from -₹2 Cr to ₹0 Cr.
🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.
Watch Items
Revenue growth is negative (-17.3%) on the latest reported period — check if this is one-off or a trend.
This is a financial-sector business: borrowing is its raw material, not leverage in the usual sense. Debt/Equity and ROCE here aren't comparable to a manufacturer's — read them alongside NIM, GNPA and capital adequacy from the company's own disclosures.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
2 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you.
