About Kifs Financial Services Limited
Data last updated: 14 July 2026
Kifs Financial Services Limited is a public limited company based in Ahmadabad City, Gujarat, India, a subsidiary of Khandwala Commercial Private Limited. It specialises in non-banking financial services (NBFC), a part of the broader financial services sector. Incorporated on 29 March 1995, the company has been in operation for over 31 years.
Registered with ROC Ahmedabad under CIN L67990GJ1995PLC025234. Listed on BSE: 535566.
Capital: an authorised share capital of ₹11 Cr and a paid-up capital of ₹10.82 Cr. Formerly known as Khandwala Financial Services Limited and Khandwala Capital Services Limited. It is led by directors including Sonal Rajesh Khandwala and Rajesh Parmanand Khandwala.
Last AGM: 19 August 2025. Financial statements filed for year ended 31 March 2025. Office: Ahmadabad City, Gujarat.
As per BSE-filed standalone financials for FY 2024, the company reported a revenue of ₹46.64 Cr, a growth of 51.82% compared to the previous year. The net worth stands at ₹50.46 Cr (up 12.62% YoY). Total assets are valued at ₹301.84 Cr (down 4.26% YoY).
It operates as a subsidiary of Khandwala Commercial Private Limited.
The company is associated with 2 brands - Kifs Trade Capital, Kifs Financial Services.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website kifsfinance.com.
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Registered Address4Th Floor Kifs Corporate House Nr.Land Mark Hotel, Nr. Neptune House Iskon – Ambli Road, Ahmadabad City, Gujarat, India – 380054
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IndustryFinancial Services, NBFC, Investment & Credit NBFC
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
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Name History of Kifs Financial Services Limited
Kifs Financial Services Limited has undergone 2 name changes throughout its history. The company was previously known as Khandwala Financial Services Limited, and Khandwala Capital Services Limited. The current legal name is Kifs Financial Services Limited, reflecting the company's evolution and rebranding over time.
| Company Name | Status |
|---|---|
| Kifs Financial Services Limited | Current |
| Khandwala Financial Services Limited | Previous |
| Khandwala Capital Services Limited | Previous |
Associated Brands with Kifs Financial Services Limited
Kifs Financial Services Limited operates two associated brands: KIFS Trade Capital and KIFS Financial Services. These brands represent Kifs Financial Services Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Serves as a platform for individual portfolio management. | kifstradecapital.com | |
| Provides loans against securities and funding for IPO applicants. | kifsfinance.com |
Competitors & Alternatives of Kifs Financial Services Limited
Brands and companies operating in the same space as Kifs Financial Services Limited include Manappuram Finance, L & T Finance Holdings, Bajaj Finserv and 7 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Manappuram Finance
|
Consumer and SME loans are provided by Manappuram Finance. | Valapad, India, India | 1992 |
L & T Finance Holdings
|
Diversified lending services are provided as a non-banking financial institution. | Mumbai, India, India | 1994 |
Bajaj Finserv
|
Financial solutions including loans and insurance are offered. | Pune, India, India | 2007 |
Northern Arc Capital
|
Household and business loans are provided with risk management support. | Chennai, India, India | 2006 |
IIFL Finance
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Online gold, home, personal, and business loans are provided. | Mumbai, India, India | 1995 |
Mahindra Finance
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Consumer and SME loans are provided by Mahindra Finance. | Mumbai, India, India | 1991 |
Hero Fincorp
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2-wheeler loans and consumer/business financing are provided by Hero Fincorp. | Delhi, India, India | 1991 |
Kinara Capital
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Collateral-free loans are provided to MSMEs for business operations. | Bengaluru, India, India | 2011 |
Dvara KGFS
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Loans for consumers and SMEs are provided alongside financial services. | Chennai, India, India | 2008 |
Modulus Alternatives
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Portfolio management is provided for individuals via fixed income instruments. | Mumbai, India, India | 2018 |
Business Activity of Kifs Financial Services Limited
Kifs Financial Services Limited operates primarily in the financial and insurance service sector. The company has 1 registered business activity segment, reflecting its diverse operational portfolio.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| Locked | Financial and insurance Service | Locked | Other financial activities | Locked |
Detailed business activity records for Kifs Financial Services Limited
Activity codes and turnover contribution percentages require an active report plan.
- Activity group codes
- Detailed activity codes
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Auditor Details of Kifs Financial Services Limited
Kifs Financial Services Limited is audited by BIMAL SHAH ASSOCIATES for the financial year 2019. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| BIMAL SHAH ASSOCIATES | Locked | Locked | Locked |
Complete auditor history for Kifs Financial Services Limited
Appointment status, appointment dates, cessation dates, and historical auditor changes require an active report plan.
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Board of Directors of Kifs Financial Services Limited
Kifs Financial Services Limited is currently managed by 6 directors, with 6 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sonal Rajesh Khandwala | Director | 27 May 2014 | 12 Years 3 Months | Current |
| Rajesh Parmanand Khandwala | Managing Director | 31 Jul 2010 | 16 Years 1 Months | Current |
| Sharvil Bharat Kumar Suthar | Director | 29 Jun 2020 | 6 Years 2 Months | Current |
| Vimal Parmanand Khandwala | Director | 25 Jan 2021 | 5 Years 7 Months | Current |
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Dixit Dipakkumar Shah
Also directs:
Corpliance Consultancy Llp
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Director | 14 Aug 2023 | 3 Years 1 Months | Current |
| Rajesh Gopaldas Parekh | Director | 14 Aug 2023 | 3 Years 1 Months | Current |
Financials of Kifs Financial Services Limited FY 2024 filings available
Kifs Financial Services Limited reported revenue of ₹46.64 Cr (up 51.82% YoY) for FY 2024.
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹46.64 Cr | ₹30.72 Cr | ₹32.71 Cr | ₹20.93 Cr | ₹15.59 Cr | ₹5.89 Cr |
| Interest Earned | ₹46.64 Cr | ₹30.72 Cr | ₹32.71 Cr | ₹20.92 Cr | ₹15.35 Cr | - |
| Other Income | ₹1.23 Lakh | ₹2.94 Lakh | ₹0 | ₹10.35 Lakh | ₹24,000 | ₹51,000 |
| Total Income | ₹46.65 Cr | ₹30.75 Cr | ₹32.71 Cr | ₹21.04 Cr | ₹15.6 Cr | - |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹47.66 Lakh | ₹44.06 Lakh | ₹37.13 Lakh | ₹33.81 Lakh | ₹33.81 Lakh | ₹27.52 Lakh |
| Finance Costs | ₹35.18 Cr | ₹20.76 Cr | ₹23.14 Cr | ₹15.46 Cr | ₹9.54 Cr | ₹1.14 Cr |
| Depreciation & Amortisation | ₹50.88 Lakh | ₹50.31 Lakh | ₹37.99 Lakh | ₹2.55 Lakh | ₹4.74 Lakh | - |
| Other Expenses | ₹74.3 Lakh | ₹45.9 Lakh | ₹59.97 Lakh | ₹13.5 Lakh | ₹40.11 Lakh | ₹37.47 Lakh |
| Total Expenses | ₹36.91 Cr | ₹22.16 Cr | ₹24.49 Cr | ₹15.96 Cr | ₹10.32 Cr | ₹1.86 Cr |
| Profit Before Exceptional Items & Tax | ₹9.74 Cr | ₹8.59 Cr | ₹8.22 Cr | ₹5.08 Cr | ₹5.27 Cr | - |
| Exceptional Items | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | - |
| Profit Before Tax | ₹9.74 Cr | ₹8.59 Cr | ₹8.22 Cr | ₹5.08 Cr | ₹5.27 Cr | ₹4.04 Cr |
| Total Tax Expense | ₹2.62 Cr | ₹2.19 Cr | ₹2.1 Cr | ₹1.29 Cr | ₹1.33 Cr | ₹1.21 Cr |
| Net Profit | ₹7.12 Cr | ₹6.4 Cr | ₹6.13 Cr | ₹3.79 Cr | ₹3.94 Cr | ₹2.82 Cr |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | - |
| Total Comprehensive Income | ₹7.12 Cr | ₹6.4 Cr | ₹6.13 Cr | ₹3.79 Cr | ₹3.94 Cr | - |
| EBITDA (computed) | ₹45.43 Cr | ₹29.85 Cr | ₹31.74 Cr | ₹20.56 Cr | ₹14.86 Cr | - |
| Basic EPS | ₹6.58 | ₹5.91 | ₹5.66 | ₹3.50 | ₹3.64 | - |
| Diluted EPS | ₹6.58 | ₹5.91 | ₹5.66 | ₹3.50 | ₹3.64 | - |
| Metrics | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Total Assets | ₹301.84 Cr | ₹315.27 Cr | ₹300.35 Cr | ₹198.15 Cr | ₹206.08 Cr | ₹100.57 Cr |
| Non-current Assets | - | - | - | - | - | ₹20.75 Lakh |
| Current Assets | - | - | - | - | - | ₹100.37 Cr |
| Property, Plant & Equipment | ₹1.49 Cr | ₹1.11 Cr | ₹1.61 Cr | ₹16,000 | ₹10.59 Lakh | - |
| Inventories | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| Cash & Equivalents | ₹46,000 | ₹42,000 | ₹1.11 Lakh | ₹1.78 Lakh | ₹2.14 Lakh | ₹3.74 Cr |
| Equity (Net Worth) | ₹50.46 Cr | ₹44.81 Cr | ₹39.87 Cr | ₹35.1 Cr | ₹32.66 Cr | - |
| Equity Share Capital | ₹10.82 Cr | ₹10.82 Cr | ₹10.82 Cr | ₹10.82 Cr | ₹10.82 Cr | - |
| Current Liabilities | - | - | - | - | - | ₹71.61 Cr |
| Total Liabilities | ₹251.38 Cr | ₹270.47 Cr | ₹260.48 Cr | ₹163.05 Cr | ₹173.42 Cr | - |
| Metrics | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Operating Cash Flow | ₹49.28 Cr | -₹7.99 Cr | -₹26.14 Cr |
| Investing Cash Flow | -₹30.59 Cr | ₹0 | -₹1.99 Cr |
| Financing Cash Flow | -₹1.46 Cr | -₹1.46 Cr | -₹1.35 Cr |
| Capital Expenditure | ₹89.16 Lakh | ₹0 | ₹1.99 Cr |
| Free Cash Flow (computed) | ₹48.38 Cr | -₹7.99 Cr | -₹28.13 Cr |
| Dividends Paid | ₹1.46 Cr | ₹1.46 Cr | ₹1.35 Cr |
| Net Change in Cash | ₹17.23 Cr | -₹9.45 Cr | -₹29.49 Cr |
| Metrics | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|
| Revenue from Operations | ₹5.4 Cr | ₹8.73 Cr | ₹8.39 Cr |
| Interest Earned | ₹5.4 Cr | ₹8.73 Cr | ₹8.39 Cr |
| Other Income | ₹0 | ₹0 | ₹0 |
| Total Income | ₹5.4 Cr | ₹8.73 Cr | ₹8.39 Cr |
| Cost of Materials Consumed | ₹0 | ₹0 | ₹0 |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹0 | ₹0 | ₹0 |
| Employee Benefit Expense | ₹11.51 Lakh | ₹9.76 Lakh | ₹11.12 Lakh |
| Finance Costs | ₹2.84 Cr | ₹6.31 Cr | ₹6.03 Cr |
| Depreciation & Amortisation | ₹11.64 Lakh | ₹11.64 Lakh | ₹11.64 Lakh |
| Other Expenses | ₹2.09 Lakh | ₹2.86 Lakh | ₹7.66 Lakh |
| Total Expenses | ₹3.1 Cr | ₹6.55 Cr | ₹6.34 Cr |
| Profit Before Exceptional Items & Tax | ₹2.3 Cr | ₹2.18 Cr | ₹2.06 Cr |
| Exceptional Items | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹2.3 Cr | ₹2.18 Cr | ₹2.06 Cr |
| Total Tax Expense | ₹52.91 Lakh | ₹53.85 Lakh | ₹54.7 Lakh |
| Net Profit | ₹1.77 Cr | ₹1.64 Cr | ₹1.51 Cr |
| Other Comprehensive Income | ₹0 | ₹0 | ₹0 |
| Total Comprehensive Income | ₹1.77 Cr | ₹1.64 Cr | ₹1.51 Cr |
| EBITDA (computed) | ₹5.26 Cr | ₹8.6 Cr | ₹8.21 Cr |
| Basic EPS | ₹1.63 | ₹1.52 | ₹1.40 |
| Diluted EPS | ₹1.63 | ₹1.52 | ₹1.40 |
Shareholding Pattern of Kifs Financial Services Limited
As per the shareholding pattern filed with BSE for the quarter ended Mar 2026, promoters hold 74.41%, domestic institutional investors hold 0.37%, retail and other public shareholders hold 25.22% of Kifs Financial Services Limited. The company had 1,452 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | |
|---|---|---|---|---|---|---|
| Promoters | 74.41% | 74.41% | 74.41% | 74.41% | 74.41% | 74.41% |
| Public | 25.59% | 25.59% | 25.59% | 25.59% | 25.59% | 25.59% |
| Mar 2026 | Mar 2025 | Mar 2024 | |
|---|---|---|---|
| Promoters | 74.41% | 74.41% | 74.41% |
| Public | 25.59% | 25.59% | 25.59% |
| Promoter change (YoY, %pts) | +0.00 | +0.00 | - |
Charges & Borrowings Kifs Financial Services Limited
Kifs Financial Services Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Kifs Financial Services Limited
View historical data on people associated with Kifs Financial Services Limited, including employment history and EPFO contributions.
Employee and EPFO history for Kifs Financial Services Limited
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GST Compliance of Kifs Financial Services Limited
GST registrations and filing compliance for Kifs Financial Services Limited
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Credit Ratings, Litigation & Regulatory Alerts for Kifs Financial Services Limited
Credit ratings, litigation, and regulatory alerts for Kifs Financial Services Limited
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MSME Payment Delays by Kifs Financial Services Limited
MSME payment history for Kifs Financial Services Limited
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Subsidiaries & Group Companies of Kifs Financial Services Limited
Corporate group structure for Kifs Financial Services Limited
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MCA Filings & Documents of Kifs Financial Services Limited
MCA filings and documents for Kifs Financial Services Limited
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Recent Activity on Kifs Financial Services Limited
Recent News on Kifs Financial Services Limited
Frequently Asked Questions about Kifs Financial Services Limited
Kifs Financial Services Limited is an active public limited company in the financial services sector based in Ahmadabad City, Gujarat, India. It was incorporated on 29 March 1995 (31+ years old) and is registered under CIN L67990GJ1995PLC025234. Listed on BSE: 535566.
Kifs Financial Services Limited reported revenue of ₹46.64 Cr for FY 2024 (up 51.82% YoY) based on standalone BSE filings.
The current directors of Kifs Financial Services Limited are:
- Sonal Rajesh Khandwala - Director
- Rajesh Parmanand Khandwala - Managing Director
- Sharvil Bharat Kumar Suthar - Director
- Vimal Parmanand Khandwala - Director
- Dixit Dipakkumar Shah - Director
- Rajesh Gopaldas Parekh - Director
The primary industry of Kifs Financial Services Limited is financial services. The company specifically operates in nbfc. The company is currently active in this sector.
Yes. Kifs Financial Services Limited is listed on BSE with code 535566.
Kifs Financial Services Limited can be reached at the registered office: 4Th Floor Kifs Corporate House Nr.Land Mark Hotel, Nr. Neptune House Iskon – Ambli Road, Ahmadabad City, Gujarat, India – 380054, or through the website kifsfinance.com.