Key Metrics of Kotak Securities
About Kotak Securities
Sectors
Company details
- Website
- kotaksecurities.com
Operational Areas of Kotak Securities
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 15 Jul 2026 | ICRA | Reaffirmed | AAA | A1+ | Stable | ₹31,600 Cr | View |
| 07 Jul 2026 | ICRA | Reaffirmed | AAA | A1+ | Stable | ₹30,100 Cr | View |
Credit strengths (ICRA, Jul 2026)
+ Strong parentage by virtue of being a part of Kotak Group
The company is a part of the Kotak Group, with KMBL holding 75% directly and 25% through its wholly-owned subsidiary.
+ Established presence in broking space
KSL, a full-service securities brokerage house, has been operating in the broking space for three decades.
+ Healthy profitability and strong capitalisation
KSL’s profitability remained healthy with profit after tax (PAT)/net operating income (NOI) of 44.9% and a return on net worth (RoNW) of 15.4% in FY2026, though lower than 48.5% and 17.8%, respectively, in FY2025.
Credit challenges
− Exposed to risks inherent in capital market-related businesses as well as credit and market risks associated with MTF business
The trading volumes and revenues of securities broking companies are susceptible to the inherently volatile capital markets, which are cyclical in nature.
− Elevated competition, high dependence on technology, and evolving regulatory environment
Given the highly regulated nature of the industry, brokerage houses face significant regulatory risk.
Could lead to a downgrade
A deterioration in KMBL’s credit profile or a change in KSL’s strategic importance to the parent or a decline in the linkages with the parent would be a negative factor. www.icra .in Sensitivity Label : Public Page |3
Agency-reported financials (ICRA, 15 Jul 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Net operating income | ₹3,379 Cr | ₹3,703 Cr |
| Profit after tax | ₹1,638 Cr | ₹1,664 Cr |
| Net worth | 10,009.00× | 11,614.00× |
| Total assets | ₹27,344 Cr | ₹39,441 Cr |
| Gearing (times) | 0.72× | 1.27× |
| Return on average net worth | 17.8% | 15.4% |
Borrowings & rated debt
Rated limits over time
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Non-convertible debentures | Debentures & bonds | ₹100 Cr | ₹100 Cr | 0.0% | AAA (Stable) | Reaffirmed | ICRA |
| reaffirmed Long term fund based | Working capital & bank lines | ₹3,500 Cr | ₹5,000 Cr | 42.9% | AAA (Stable) | Reaffirmed | ICRA |
| Long term non-fund based | Non-fund based limits | ₹1,500 Cr | ₹1,500 Cr | 0.0% | AAA (Stable) | Reaffirmed | ICRA |
| Commercial paper | Commercial paper | ₹25,000 Cr | ₹25,000 Cr | 0.0% | A1+ | Reaffirmed | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| INE028E14WV8 | — | Commercial paper | 8.12% | 04 Jun 2026 | 01 Dec 2026 | ₹200 Cr | A1+ | Outstanding |
| INE028E14UV2 | — | Commercial paper | 7.56% | 12 Feb 2026 | 12 Feb 2027 | ₹525 Cr | A1+ | Outstanding |
| INE028E14VB2 | — | Commercial paper | 7.50% | 23 Feb 2026 | 23 Feb 2027 | ₹225 Cr | A1+ | Outstanding |
| INE028E14VC0 | — | Commercial paper | 7.45% | 24 Feb 2026 | 24 Feb 2027 | ₹625 Cr | A1+ | Outstanding |
| INE028E14XF9 | — | Commercial paper | 7.05% | 23 Jun 2026 | 23 Oct 2026 | ₹300 Cr | A1+ | Matured |
| INE028E14WE4 | — | Commercial paper | 7.50% | 13 May 2026 | 16 Oct 2026 | ₹100 Cr | A1+ | Matured |
| INE028E14VX6 | — | Commercial paper | 7.16% | 10 Apr 2026 | 25 Sep 2026 | ₹300 Cr | A1+ | Matured |
| INE028E14XG7 | — | Commercial paper | 6.90% | 25 Jun 2026 | 24 Sep 2026 | ₹510 Cr | A1+ | Matured |
| INE028E14XE2 | — | Commercial paper | 7.03% | 19 Jun 2026 | 18 Sep 2026 | ₹300 Cr | A1+ | Matured |
| INE028E14XD4 | — | Commercial paper | 7.10% | 18 Jun 2026 | 17 Sep 2026 | ₹235 Cr | A1+ | Matured |
| INE028E14XC6 | — | Commercial paper | 7.40% | 17 Jun 2026 | 16 Sep 2026 | ₹500 Cr | A1+ | Matured |
| INE028E14XB8 | — | Commercial paper | 7.45% | 16 Jun 2026 | 15 Sep 2026 | ₹200 Cr | A1+ | Matured |
| INE028E14XA0 | — | Commercial paper | 7.48% | 12 Jun 2026 | 11 Sep 2026 | ₹250 Cr | A1+ | Matured |
| INE028E14WZ9 | — | Commercial paper | 7.78% | 11 Jun 2026 | 10 Sep 2026 | ₹150 Cr | A1+ | Matured |
| INE028E14WY2 | — | Commercial paper | 8.05% | 10 Jun 2026 | 09 Sep 2026 | ₹100 Cr | A1+ | Matured |
| INE028E14WX4 | — | Commercial paper | 7.85% | 09 Jun 2026 | 08 Sep 2026 | ₹700 Cr | A1+ | Matured |
| INE028E14WW6 | — | Commercial paper | 8.15% | 05 Jun 2026 | 04 Sep 2026 | ₹775 Cr | A1+ | Matured |
| INE028E14WU0 | — | Commercial paper | 8.10% | 04 Jun 2026 | 03 Sep 2026 | ₹400 Cr | A1+ | Matured |
| INE028E14WT2 | — | Commercial paper | 8.15% | 03 Jun 2026 | 02 Sep 2026 | ₹350 Cr | A1+ | Matured |
| INE028E14WS4 | — | Commercial paper | 7.95% | 02 Jun 2026 | 01 Sep 2026 | ₹25.0 Cr | A1+ | Matured |
| INE028E14WQ8 | — | Commercial paper | 8.12% | 01 Jun 2026 | 31 Aug 2026 | ₹125 Cr | A1+ | Matured |
| INE028E14WP0 | — | Commercial paper | 8.20% | 29 May 2026 | 28 Aug 2026 | ₹650 Cr | A1+ | Matured |
| INE028E14WN5 | — | Commercial paper | 8.10% | 27 May 2026 | 25 Aug 2026 | ₹50.0 Cr | A1+ | Matured |
| INE028E14WM7 | — | Commercial paper | 8.10% | 25 May 2026 | 24 Aug 2026 | ₹100 Cr | A1+ | Matured |
| INE028E14WK1 | — | Commercial paper | 7.95% | 22 May 2026 | 21 Aug 2026 | ₹260 Cr | A1+ | Matured |
| INE028E14WJ3 | — | Commercial paper | 7.95% | 21 May 2026 | 20 Aug 2026 | ₹250 Cr | A1+ | Matured |
| INE028E14WI5 | — | Commercial paper | 7.85% | 20 May 2026 | 19 Aug 2026 | ₹110 Cr | A1+ | Matured |
| INE028E14WH7 | — | Commercial paper | 7.90% | 19 May 2026 | 18 Aug 2026 | ₹750 Cr | A1+ | Matured |
| INE028E14WL9 | — | Commercial paper | 8.20% | 22 May 2026 | 17 Aug 2026 | ₹150 Cr | A1+ | Matured |
| INE028E14WG9 | — | Commercial paper | 7.45% | 15 May 2026 | 14 Aug 2026 | ₹100 Cr | A1+ | Matured |
| INE028E14VT4 | — | Commercial paper | 7.41% | 07 Apr 2026 | 13 Aug 2026 | ₹125 Cr | A1+ | Matured |
| INE028E14WF1 | — | Commercial paper | 7.55% | 13 May 2026 | 12 Aug 2026 | ₹625 Cr | A1+ | Matured |
| INE028E14WD6 | — | Commercial paper | 7.45% | 12 May 2026 | 11 Aug 2026 | ₹25.0 Cr | A1+ | Matured |
| INE028E14UO7 | — | Commercial paper | 7.90% | 04 Feb 2026 | 10 Aug 2026 | ₹200 Cr | A1+ | Matured |
| INE028E14WR6 | — | Commercial paper | 8.12% | 01 Jun 2026 | 04 Aug 2026 | ₹100 Cr | A1+ | Matured |
| INE028E14XH5 | — | Commercial paper | 6.30% | 06 Jul 2026 | 31 Jul 2026 | ₹100 Cr | A1+ | Matured |
| INE028E14WO3 | programme* + | Commercial paper | 8.07% | 27 May 2026 | 27 Jul 2026 | ₹25.0 Cr | A1+ | Matured |
Credit assessment · Banks, NBFCs & HFCs
Financial Ratios – Financial Sector (Feb 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 70% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 73% chance the next rating action is stable or better
- Current rating AAA (investment grade)
Rated limits by facility
Timeline
From the report
Against this, it had an unencumbered cash and bank balance and liquid investments of Rs. 1,067 crore and drawable but unutilised lines of Rs. 3,772 crore.
From the report
July 07, 2026 Kotak Securities Limited: Ratings reaffirmed; rated amount enhanced Summary of rating action Previous rated amount Current rated amount Instrument* Rating action (Rs. crore) (Rs. crore) Non-convertible debentures 100.00 100.00 [ICRA]AAA (Stable); reaffirmed Long term fund based 3,500.00 3,500.00 [ICRA]AAA (Stable); reaffirmed Long term non-fund based 1,500.00 1,500.00 [ICRA]AAA (Stable); reaffirmed [ICRA]A1+; reaffirmed/assigned for Commercial paper 22,500.00 25,000.00 enhanced amount Total 27,600.00 30,100.00 *Instrument details are provided in Annexure II Rationale The ratings
From the report
Against this, it had an unencumbered cash and bank balance and liquid investments of Rs. 1,067 crore and drawable but unutilised lines of Rs. 3,772 crore.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Kotak Securities
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Larsen & Toubro |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | larsentoubro.com | 1938 | Mumbai, India |
| Part of Life Insurance Corporation of India. | itcportal.com | 1910 | Kolkata, India | |
| Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | arvind.com | — | Ahmedabad, India | |
 Thermax |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | thermaxglobal.com | 1980 | Pune, India |
| Fintech, Broking & Market Infrastructure · Finance | angelone.in | — | Mumbai, Maharashtra, India | |
 Nuvama Wealth Management Limited |
Fintech, Broking & Market Infrastructure · Finance | nuvamawealth.com | — | Mumbai, Maharashtra, India |
 Kirloskar Brothers |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | kirloskarpumps.com | 1888 | Pune, India |
| 360 One Wam Limited | Discovered Companies · Other Industries | — | — | Mumbai, Maharashtra, India |
| HDFC Asset Management Company Limited | Fintech, Broking & Market Infrastructure · Banking & Financial Services | — | — | Mumbai, Maharashtra, India |
 Emami |
Shampoo, Hair Oil & Hair Care · FMCG - Personal & Home Care | emamiltd.in | 1974 | Kolkata, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
brokerage firm
Filings
No filings on record yet.