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Kfin Technologies Margin Trend — Quarter by Quarter

Kfin Technologies's EBITDA margin moved from 45.0% in Q3 FY24 to 37.0% in Q4 FY26 across 9 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY2637.0%—
Q3 FY2641.0%-300 bps
Q2 FY2643.9%—
Q1 FY2641.5%—
Q4 FY2543.2%—
Q3 FY2544.1%-10 bps
Q2 FY2545.0%—
Q4 FY2445.0%+238 bps
Q3 FY2445.0%—

What management said about ebitda margin

G

Q4 FY26 · FY27 EBITDA growth 16-17%

EBITDA expected to grow 16-17% in FY27, with margins around 39-40% as cost optimization offsets Ascent drag.

G

Q3 FY26 · EBITDA margin 40-45% for FY26

EBITDA margin guidance maintained at 40-45% for the full year, despite integration costs.

G

Q3 FY26 · Ascent margins to reach Kfin levels in 3 years

Management expects Ascent's EBITDA margins to converge with Kfin's within 36 months through scale and cost synergies.

G

Q2 FY26 · EBITDA margin guidance of 40-45% maintained

Management reiterated 40-45% EBITDA margin guidance, expecting to sustain even after Ascent consolidation.

G

Q2 FY26 · Ascent to be EBITDA neutral in FY26, double-digit margins next year

Ascent expected to be EBITDA neutral in FY26 and achieve double-digit EBITDA margins in FY27.

G

Q1 FY26 · EBITDA margin maintained at 40-45%

CFO reiterated guidance of 40-45% EBITDA margin for FY26, with Q1 being seasonally weak and margins improving in subsequent quarters.

G

Q4 FY25 · 18-20% top-line growth and 40-45% EBITDA margin

Management reiterated guidance for FY26, expecting revenue growth of 18-20% and EBITDA margins in the 40-45% range.

G

Q4 FY25 · Essent acquisition neutral in FY26, accretive from FY27

The acquisition of 51% stake in AFS (Essent) will be EBITDA margin neutral in FY26 and become value-accretive from FY27.

G

Q3 FY25 · Cost growth limited to ~10% in FY26

Management expects expense growth to be contained around 10% in the coming fiscal year, with continued investment in IT and cloud.

G

Q2 FY25 · EBITDA margin guidance maintained at 40%-45%

Management reiterated its EBITDA margin guidance range of 40%-45%, despite investments in technology and manpower.

G

Q4 FY24 · EBITDA margin guidance of 40-45%

Management reiterated commitment to maintain EBITDA margins in the 40-45% range for the coming year.