A

October 28, 2024 CS&G/STX/DQ2024/09

1) National Stock Exchange of India Limited 2) BSE Limited

Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers,
Bandra Kurla Complex, Bandra (E), Dalal Street,
Mumbai – 400 051 Mumbai – 400 001
Scrip Symbol: KFINTECH Scrip Code: 543720

Sub. : Outcome of Board Meeting and Submission of Standalone and Consolidated

Unaudited Financial Results

Ref. : Regulations 30 and 33 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (“LODR Regulations”)

Dear Sir / Madam,

Further to our previous intimation bearing reference no. CS&G/STX/DQ2024/01 dated October 08,
2024, pursuant to Regulation 30 and other applicable provisions of the LODR Regulations, this is to
inform that the Board of Directors of the Company at its meeting held today i.e., October 28, 2024,
has inter-alia approved the standalone and consolidated unaudited financial results of the Company
for the quarter and half-year ended September 30, 2024.

The Board meeting commenced at 03:30 p.m. and concluded at 05:05 p.m.

Pursuant to Regulation 33 and other applicable provisions of the LODR Regulations, please find
enclosed herewith the standalone and consolidated unaudited financial results of the Company for the
quarter and half-year ended September 30, 2024, along with the limited review reports thereon issued
by B S R and Co, Chartered Accountants, Statutory Auditors of the Company.

This is for your information and records.

Thanking you,

Yours faithfully,

For KFin Technologies Limited

Digitally signed by ALPANA
UTTAM KUNDU
Date: 2024.10.28 17:08:11 +05'30'

Alpana Kundu
Company Secretary and Compliance Officer
ICSI Membership No.: F10191

Encl.: a/a

CIN: L72400TG2017PLC117649
compliance.corp@kfintech.com
 Salarpuria Knowledge City, Orwell
B S R and Co B Wing, 6th Floor, Unit-3, Sy No. 83/1
Plot No. 02, Raidurg
Chartered Accountants Hyderabad – 500 081, India
Telephone + 91 407 182 2000
Fax + 91 407 182 2399

Limited Review Report on unaudited consolidated financial results of KFin

Technologies Limited for the quarter ended 30 September 2024 and year to date
results for the period from 01 April 2024 to 30 September 2024 pursuant to Regulation
33 of Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended

To the Board of Directors of KFin Technologies Limited

1. We have reviewed the accompanying Statement of unaudited consolidated financial results of KFin
Technologies Limited (hereinafter referred to as “the Parent”), and its subsidiaries (the Parent and its
subsidiaries together referred to as “the Group”) and its share of the net profit after tax and total
comprehensive income of its associate for the quarter ended 30 September 2024 and year to date
results for the period from 01 April 2024 to 30 September 2024 (“the Statement”), being submitted by
the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing
Regulations").
2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s
Board of Directors, has been prepared in accordance with the recognition and measurement
principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”),
prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally
accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility
is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements
(SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the
Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial
information consists of making inquiries, primarily of persons responsible for financial and accounting
matters, and applying analytical and other review procedures. A review is substantially less in scope
than an audit conducted in accordance with Standards on Auditing and consequently does not enable
us to obtain assurance that we would become aware of all significant matters that might be identified
in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the Securities and Exchange
Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.
4. The Statement includes the results of the following entities:

S No Name of the component Country Relationship

1 KFin Technologies (Bahrain) W.L.L. Bahrain Subsidiary

2 KFin Technologies (Malaysia) SDN. BHD. Malaysia Subsidiary

3 KFin Services Private Limited India Subsidiary

4 Hexagram Fintech Private Limited India Subsidiary

5 Hexagram Fintech SDN. BHD. Malaysia Subsidiary

Principal Office:

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center,
Western Express Highway, Goregaon (East), Mumbai - 400063
Page 1 of 3
B S R and Co

Limited Review Report (Continued)

KFin Technologies Limited

6 KFin Global Technologies (IFSC) Limited India Subsidiary

7 WebileApps (India) Private Limited India Subsidiary

8 WebileApps Technology Services Private Limited India Subsidiary

9 Fintech Products and Solutions (India) Private Limited India Associate

(disposed off w.e.f. 03 July 2024)

5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based
on the consideration of the review reports of the other auditors referred to in paragraph 7 below,
nothing has come to our attention that causes us to believe that the accompanying Statement,
prepared in accordance with the recognition and measurement principles laid down in the aforesaid
Indian Accounting Standard and other accounting principles generally accepted in India, has not
disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations,
including the manner in which it is to be disclosed, or that it contains any material misstatement.
6. We draw attention to Note 3 of the statement of unaudited consolidated financial results for the quarter
and for the period from 01 April 2024 to 30 September 2024, where the pre-amalgamated Company
was the Registrar and Transfer Agent (“RTA”) of a past client (“the Client”) until 5 April 2021. The
Client had a demat account with one of the Depository Participants (“DP”) for depositing its shares in
escrow for the purposes of its initial public offering (“IPO”). The Parent Company identified that
1,294,489 shares were transferred by the DP (in 2011 and 2020) from the said escrow account of the
Client to the DP’s own demat account and to a Third Party’s demat account through an off-market
transaction without any authorisation from the Client. The Board of Directors of the Parent Company
after considering legal advice transferred 1,294,489 shares to the escrow account of the Client on a
‘good faith and no fault’ basis, after reducing the amount payable upon redemption, in future, of the
Redeemable Preference Shares issued in October 2021, by INR 300 million, pursuant to an indemnity
clause contained in the agreement for the issuance of such Redeemable Preference Shares. The
dividend received on such shares by the Parent Company in the financial year 2021-22 of INR 4.08
million was also transferred back to the Client.

The Parent Company has recognised an amount of INR 81.34 million as a provision as of 30
September 2024 in the statement of unaudited consolidated financial results related to potential
claims by the Client (including dividends on such shares for the earlier periods). Pending the final
settlement of terms to be agreed with the Client, the Parent Company has measured the said provision
at its best estimate. The Parent Company will initiate proceedings against the concerned parties,
including certain minority shareholders, for recovery of the amount paid and payable by the Parent
Company to the Client in connection with this matter upon completion of final settlement with the
Client.

Our conclusion is not modified in respect of this matter.

Page 2 of 3
B S R and Co

Limited Review Report (Continued)

KFin Technologies Limited
7. We did not review the financial information of 6 subsidiaries included in the Statement, whose financial
information reflects total assets (before consolidation adjustments) of INR 531.09 million as at 30
September 2024 and total revenues (before consolidation adjustments) of INR 185.93 million and
INR 348.77 million, total net profit after tax (before consolidation adjustments) of INR 23.23 million
and INR 29.94 million and total comprehensive income (before consolidation adjustments) of INR
27.66 million and INR 34.58 million, for the quarter ended 30 September 2024 and for the period from
01 April 2024 to 30 September 2024 respectively, and cash flows (net) (before consolidation
adjustments) of INR 11.64 million for the period from 01 April 2024 to 30 September 2024. as
considered in the Statement. This interim financial information has been reviewed by other auditors
whose reports have been furnished to us by the Parent’s management and our conclusion on the
Statement, in so far as it relates to the amounts and disclosures included in respect of these
subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us
as stated in paragraph 3 above.
Certain of these subsidiaries are located outside India whose interim financial information has been
prepared in accordance with accounting principles generally accepted in their respective countries
and which has been reviewed by other auditors under generally accepted auditing standards
applicable in their respective countries. The Parent’s management has converted the interim financial
information of such subsidiaries located outside India from accounting principles generally accepted
in their respective countries to accounting principles generally accepted in India. We have reviewed
these conversion adjustments made by the Parent’s management. Our conclusion in so far as it
relates to the balances and affairs of such subsidiaries located outside India is based on the reports
of other auditors and the conversion adjustments prepared by the management of the Parent and
reviewed by us.
Our conclusion is not modified in respect of this matter.

For B S R and Co
Chartered Accountants
Firm’s Registration No.:128510W
AMIT Digitally signed by
AMIT KUMAR BAJAJ
KUMAR Date: 2024.10.28
16:22:02 +05'30'
BAJAJ
Amit Kumar Bajaj
Partner
Hyderabad Membership No.: 218685
28 October 2024 UDIN:24218685BKGPPY5472

Page 3 of 3
 KFin Technologies Limited
CIN: L72400TG2017PLC117649
Registered office address: Selenium, Tower B, Plot No- 31 & 32, Financial District, Nanakramguda, Serilingampally, Hyderabad, Rangareddi, Telangana - 500032
Statement of unaudited consolidated financial results for the quarter and half-year ended September 30, 2024
(~. in millions)
Consolidated
SI. Quarter ended Half-year ended For the year ended
Particulars
No. September 30, 2024 June 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 March 31, 2024
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)

Income
1 Revenue from operations 2,804.74 2,375.62 2,089.72 5,180.36 3,904.75 8,375.33
2 Other income 105.45 80.86 63 .00 186.31 116.16 246.51
Total income 2,910.19 2,456.48 2,152.72 5,366.67 4,020.91 8,621.84

3 Expenses
Employee benefits expense 1,017.51 958.36 759.76 1,975.87 1,515.47 3,196.64
Finance costs 10.80 11.65 32.04 22.45 61.53 84.35
Depreciation, impairment and amortisation expense 165.33 147.78 125.70 313.11 250.02 530.20
Other expenses 521.87 420.63 393.30 942.50 748.34 1,512.75
Total expenses 1,715.51 1,538.42 1,310.80 3,253.93 2,575.36 5,323.94

4 Profit before share of loss of associate and tax (1 +2-3) 1,194.68 918.06 841.92 2,112.74 1,445.55 3,297.90
5 Share of loss of associate (net of tax) - - (4.80) - (9.90) (24.08)
6 Profit before tax (4+5) 1,194.68 918.06 837.12 2,112.74 1,435.65 3,273.82
7 Tax expense 301.46 237.34 223.33 538.80 388.11 813.34
8 Profit for the period/ year (6-7) 893.22 680.72 613.79 1,573.94 1,047.54 2,460.48

9 Other comprehensive income ("OCI")

A. Items that will not be reclassified subsequently to statement ofprofit or loss
Remeasurement of defined benefit plans - - - - 21.18 (1.54)
Income tax relating to remeasurement of defined benefit plans - - - - (5.33) 0.39
B. Items that will be subsequently reclassified to statement ofprofit or loss
Exchange differences on translation of foreign operations 14.36 0.09 1.20 14.45 (3.04) (3.28)
IO Total comprehensive income for the period/ year (8+9) 907.58 680,81 614.99 1,588.39 1,060.35 2,456.05

11 Earnings per equity share (Face value on. 10 per share fully paid) inf.*
Basic 5.21 3.98 3.62 9.19 6.17 14.46
Diluted 5.16 3.94 3.58 9.11 6.11 14.34

12 Paid up equity share capital - Face value oH. IO per share 1,714.07 1,713.20 1,702.54 1,714.07 1,702.54 1,709.89
13 Other equity 9,700.01

(• Not annualised for the periods) for and on behalfofthe Board ofDirectors of
KFin Technologies Limited
CIN: L72400TG2017PLC117649
Digit.ally signed byVENKATA SANA
NAGA SREEKANTH NADELLA
Date: 2024.10.28 16:07:55 +05'30'

Venkata Satya Naga Sreekanth Nadella

Managing Director and ChiefExecutive Officer
DIN: 08659728

Place: Hyderabad
Date: October 28, 2024
Segment information: (t. in millions)
Consolidated
SL Quarter ended Half-year ended For the year ended
Particulars
No. September 30, 2024 June 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 March 31, 2024
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
1 Segment revenue
Domestic mutual fund investor solutions 1,983.49 1,743.30 1,430.09 3,726.79 2,735.50 5,864.97
Issuer solutions 417.92 267.15 345.75 685.07 583.90 1,274.12
International and other investor solutions 323.60 272.72 224.67 596.32 399.48 887.94
Global business services 79.73 92.45 89.21 172.18 185.87 348.30
Total revenue 2,804.74 2,375.62 2,089.72 5,180.36 3,904.75 8,375.33
2 Segment results
Domestic mutual fund investor solutions 1,198.20 1,010.98 842.74 2,209.18 1,576.97 3,370.29
Issuer solutions 219.20 102.34 159.22 321.54 246.52 608.27
International and other investor solutions 45.83 6.51 12.22 52.34 0.61 42.60
Global business services 42.70 59.43 52.95 102.13 116.68 209.96
Total 1,505.93 1,179.26 1,067.13 2,685.19 1,940.78 4,231.12
Unallocated (expenses)/ income
(a) Unallocable expenses (405.90) (330.41) (260.97) (736.31) (559.76) (1,119.46)
(b) Finance costs (10.80) (11 .65) (32.04) (22.45) (61.53) (84.35)
(c) Other income 105.45 80.86 63.00 186.31 116.16 246.51
Profit before tax 1,194.68 918.06 837.12 2,112.74 1,435.65 3,273.82
3 Tax expense 301.46 237.34 223.33 538.80 388.11 813.34
4 Profit for the period/ year 893.22 680.72 613.79 1,573.94 1,047.54 2,460.48
5 Segment assets
Domestic mutual fund investor solutions 7,339.30 7,136.56 6,754.11 7,339.30 6,754.11 6,743 .11
Issuer solutions 994.13 887.43 996.30 994.13 996.30 916.18
International and other investor solutions 1,761.06 1,580.97 1,268.21 1,761.06 1,268.21 1,607.53
Global business services 165.34 198.41 161.92 165,34 161.92 152.05
Total 10,259.83 9,803.37 9,180.54 10,259.83 9,180.54 9,418.87
Unallocated 5,043.84 5,373.62 4,988.53 5,043.84 4,988.53 4,768.05
Total 15,303.67 15,176.99 14,169.07 15,303.67 14,169.07 14,186.92
6 Segment liabilities
Domestic mutual fund investor solutions 512.13 510.03 506.14 512.13 506.14 476.95
Issuer solutions 88.48 89.40 107.30 88.48 107.30 87.40
International and other investor solutions 134.27 59.85 58.30 134.27 58.30 59.98
Global business services 23.30 24.52 28.86 23.30 28.86 22.09
Total 758.18 683.80 700.60 758.18 700.60 646.42
Unallocated 2,386.45 2,312.10 3,573.35 2,386.45 3,573.35 2,130.60
Total 3,144.63 2,995.90 4,273.95 3,144.63 4,273.95 2,777.02
(a) The Group is engaged m followmg busmess segments: Domestic mutual fund mvestor solutions, Issuer solutions, International and other mvestor solutions and Global busmess semces. Based on the "Management approach" as defined m
Ind AS 108 - 'Operating Segments', the Chief Operating Decision Maker ('CODM') evaluates the Group's performance and allocates resources based on an analysis of various performance indicators by business segments. The accounting
principles used in the preparation of the fmancial results are consistently applied to record revenue and expenditure in individual segments.
(b) Segment result represents the profit before interest and tax earned by each segment without allocation of central administrative costs and other income.
(c) As allowed under Ind AS 108- "Operating Segments", the segment information disclosed above is based on the consolidated fmancial results.
for and on behalf ofthe Board ofDirectors of
KFin Technologies Limited
CIN: L72400TG2017PLC117649
Digitally signed byVENKATASATYA
NAGA SREEKANTH NADELLA
Date: 2024.10.28 16:08:34 +05'30'
Venkata Satya Naga Sreekanth Nadella
Managing Director and ChiefExecutive Officer
DIN:08659728

Place: Hyderabad
Date: October 28, 2024
KFin Technologies Limited
Notes:
1. The above consolidated financial results of KFin Technologies Limited ("the Parent Company"/ "the Company"), its subsidiaries (the Company and its
subsidiaries together referred to as "the Group") and its associate have been prepared in accordance with and comply in all material aspects with the Indian
Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued there under and in terms of
Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), as
amended.

2. The above consolidated fmancial results have been reviewed and recommended by the Audit Committee at its meeting held on October 28, 2024. The Board of
Directors at its meeting held on October 28, 2024 have approved the above results and taken them on record. The statutory auditors have expressed an unmodified
review conclusion on these results.

3. Karvy Computershare Private Limited (KCPL), which got amalgamated into the Parent Company with effect from November 17, 2018, was the Registrar and
Transfer Agent (RTA) of a past Client ("the Client") until April 05, 2021. The Client had a demat account ("Escrow Account") with one of the Depository
Participants ("DP") for depositing its shares in escrow for the purposes of its initial public offering. The Parent Company identified in the fmancial year 2020-21
that 794,489 shares were transferred by the DP (500,000 shares in 2011 (which translated into 1,000,000 shares pursuant to a bonus issue undertaken by the Client
in 2017) and 294,489 shares in 2020) from the Escrow Account to the DP's own demat account and to a third party's demat account through an off-market
transaction without any authorisation from the Client and without knowledge of the Parent Company. The Board of Directors of the Parent Company after
considering legal advice purchased 1,294,489 shares and transferred these shares to the Escrow Account of the Client on a 'good faith and no fault' basis, after
reducing the amount payable upon redemption, in future, of the Redeemable Preference Shares issued in October 2021, by '{. 300.00 million. The dividend
received on such shares by the Parent Company in the financial year 2021-22 on'. 4.08 million was also transferred back to the Client.
Intimation letters were sent to the Client and SEBI on November 15, 2021 informing them of transfer of shares to the Client's Escrow Account and refund of
dividend to the Client. Further, the Board of Directors of the Parent Company after considering legal advice, approved payment (based on an estimation of
potential losses that may be suffered by the Client) by the Parent Company to the Client, for the purpose of settlement of any potential claims by the Client
(including dividends on such shares for earlier periods). The Parent Company will initiate proceedings against the concerned parties, including certain minority
shareholders, for recovery of the amount paid and payable by the Parent Company to the Client in connection with this matter upon completion offmal settlement
with the Client. Considering the assessment of recoverability, the Parent Company has made a provision of'{_ 81.34 million as at September 30, 2024. Pending the
final settlement of terms to be agreed with the Client, the Management has measured the provision at its best estimate.

4. During the half-year ended September 30, 2024, 418,525 number of employee stock options were exercised and allotted.
5. At the Parent Company's annual general meeting held on 28 August 2024, the Parent Company's shareholders have approved the fmal dividend of'{_ 5.75 per
share as recommended by the Board.
6. These consolidated fmancial results along with the review report of the statutory auditors of the Parent Company are being filed with the National Stock
Exchange of India Liroited (NSE) and BSE Liroited and are also available on the Company's website.

7. On July 3, 2024, the Parent Company divested its interest of20.95% in Fintech Products and Solutions (India) Private Limited for a total cash consideration of
'{_ 65.00 million.

for and on behalfofthe Board ofDirectors of

KFin Technologies Limited
CIN: L72400TG2017PLC117649

Digitally signed by VENKATA SATYA

NAGA SREEKANTH NADELLA
Date: 2024.10.28 16:08:50 +05'30'

Venkata Satya Naga Sreekanth Nadella

Managing Director and ChiefExecutive Officer
DIN: 08659728
Place: Hyderabad
Date: October 28, 2024
 KFin Technologies Limited
CIN: L 72400TG2017PLC117649
Registered office address: Selenium, Tower B, Plot No- 31 & 32, Financial District, Nanakramguda,
Serilingampally, Hyderabad, Rangareddi, Telangana - 500032

Statement of unaudited standalone and consolidated balance sheet

(a!'. in millions)
Standalone Consolidated
Asal Asal Asat Asat
Particulars
30 September 2024 31 March 2024 30 September 2024 31 March 2024
(Unaudited) (Audited\ (Unaudited) (Audited\
LASSETS
(1) Non-current assets
Property, plant and equipment 499.01 476.63 511.09 488.61
Capital work in progress 59.51 - 59.51 -
Right-of-use assets 411.97 439.29 417.22 447.43
Goodwill 5,162.56 5,162.56 5,525.66 5,525.66
Other intangible assets 1,216.09 1,063.79 1,315.08 1,179.89
Intangible assets under development 253.60 357.45 283.07 368.83
Financial assets
(i) Investments 764.16 829.16 - -
(ii) Investments accounted for using the equity method - - - 40.92
(iii) Other financial assets 60.30 67.53 69.50 69.19
Deferred tax assets (net) - - 5.33 3.83
Non-current tax assets (net) 103.92 74.49 136.52 95.33
Other non-current assets 65.93 56.09 65.93 56.09
Total non-current assets 8,597.05 8,526.99 8,388.91 8,275.78
(2) Current assets
Financial assets
(i) Investments 1,751.90 1,418.82 1,815.66 1,457.57
(ii) Trade receivables 2,064.36 1,435.01 2,214.41 1,519.00
(iii) Cash and cash equivalents 137.74 466.35 241.55 564.01
(iv) Bank balances other than cash and cash equivalents above 2,091.67 1,912.23 2,136.29 1,953.27
(v) Other financial assets 229.87 179.17 209.59 171.44
Other current assets 287.00 235.48 297.26 245.85
Total current assets 6,562.54 5,647.06 6,914.76 5,911.14
TOTAL ASSETS IS 159,59 14174.05 15,303.67 14186,92

II. EQUITY AND LlABlLlTIES

(1) Equity
Equity share capital 1,714.07 1,709.89 1,714.07 1,709.89
Other equity 10,393.51 9,706.63 10,444.97 9,700.01
Total equity 12,107.58 11,416.52 12,159.04 11,409.90
(2) Non-current liabilities
Financial liabilities
(i) Lease liabilities 351.79 377.56 352.91 379.76
Provisions - 0.08 0.04 9.05
Deferred tax liabilities (net) 1,234.97 1,226.85 1,245.17 1,238.85
1,586.76 1,604.49 1,598.12 1,627.66
(3) Current liabilities
Financial liabilities
(i) Lease liabilities 110.54 100.70 114.83 106.85
(ii) Trade payables
- Total outstanding dues of micro enterprises and small enterprises 1.93 1.92 2.20 0.59

- Total outstanding dues of creditors other than micro enterprises 504.40 399.69 516.97 354.00
and small enterprises
(iv) Other financial liabilities 405.87 382.41 408.40 387.35
Other current liabilities 147.70 140.19 191.45 165.34
Provisions 87.24 78.49 98.26 80.80
Current tax liabilities (net) 207.57 49.64 214.40 54.43
Total current liabilities 1,465.25 1,153.04 1,546.51 1,149.36
Total Liabilities 3,052.01 2,757.53 3,144.63 2,777.02
TOTAL EQUITY AND LlAB1LlTIES 15 159,59 14174.05 15,303.67 14186,92

for and on behalf of the Board ofDirectors of

KFin Technologies Limited
CIN: L72400TG2017PLC 117649
Digitally signed by VENKATA SATYA
NAGA SREEKANll-1 NADELLA
Date: 2024.10.28 16:09:1 s +05'30'
Venkata Satya Naga Sreekanth Nadella
Managing Director and ChiefExecutive Officer
DIN: 08659728
Place: Hyderabad
Date: October 28, 2024
 KFin Tedmologies Limited
CIN: L 72400TG2017PLC117649
Registered office addl"Hs: Selenium, Tower B, PlotNo-31 & 32, Financial District, Nanakram.guda,
Serilingampally, Hyderabad, Rangareddi, Telangana - 500032
Statement of unaudited standalone and consolidated s1atement of cash nows
({ inntillions)
Standalone Consolidated
For the half-year ended For the half-year ended For the half-year ended For the half-year ended
Particulan
30 September 2024 30 September 2023 30 September 2024 30 September 2023
(Unaudited) (Unaudited) (Unaudited) (Unaudited)

A. Cub flows from operating activities

Profit before tu. 2,059.30 1,459.66 2,112.74 1,435.65
Adjustments for:
Depreciation, impairment and amortisation expense 289.09 229.33 313.11 250.02
Loss/ (profit) on sale of property, plant and equipment, net 0.01 (0.14) 0.01 (0.14)
Interest income (82.95) (13.25) (85.47) (15.86)
Dividend income from mutual fimds (26.17) (96.21) (27.88) (96.21)
Fair value gain on :finencial assets measured at FVTPL (44.34) - (44.34) -
Interest income from unwinding of discount on deposits (1.50) (1.41) (1.50) (1.41)
Liabilities no longer required written back (0.75) (1.25) (0.75) (1.25)
Income on derecognition of right-of-use asset and lease liabilities (0.58) - (0.58) -
Foreign exchange loss/ (gain) (net) (0.18) 1.35 1.10 (0.09)
Finance costs 22.28 60.59 22.45 61.53
(Reversal)/ charge towards credit loss allowance on trade receivables and other (20.30) 18.22 (17.28) 20.22
financial assets
Credit impaired receivables written-off
Advances/ deposits written-off
35.97 -
1.51
36.05 -
1.51
Share of loss of associate, net of tax - 9.90
Gain on sale of investment in associate
Share based payment expenses 54.57
-
15.12
(24.08)
66.97 17.58
-
Operating profit before working capital changes 2,284.45 1,673.52 2,350.55 1,681.45

Working capital adjustments:

Increase in trade receivables (644.86) (413.35) (715.36) (423.89)
(Increase)/ decrease in other current financial assets (25.31) 19.62 (36.65) 32.61
(Increase)/ decrease in other non- current financial assets (4.23) 3.36 (4.46) 3.43
Increase in other assets (54.18) (78.97) (54.07) (70.10)
Increase in trade payables 105.47 114.62 165.33 119.14
Increase/ (decrease) in other current financial liabilities 18.29 (9.44) 14.57 (21.46)
Increase in other current liabilities 7.51 12.57 26.11 2.78
Increase in provisions 8.67 27.46 8.45 36.63
Cub generated from operations 1,695.81 1,349.39 1,754.47 1,360.59
Income taxes paid, net of refund received (392.37) (335.80) (415.20) (349.66)
Net cub generated from operating activities (A) 1.303.44 1013.59 1.339.27 1010.93

B. Cub flow from inwsting activities

Purchase of property, plant and equipment (including movement in capital work-in- (184.46) (158.58) (186.79) (159.54)
progress, capital advances and capital creditors)
Proceeds from sale of property, plant and equipment 3.90 3.90
Purchase of intangible assets (including intangible assets under development) (170.41) (202.40) (188.62) (219.52)
Investment in subsidiaries (130.00) -
Disinvestment in associate 65.00 - 65.00 -
Fixed deposits placed with banks, net (109.76) (49.46) (109.08) (56.20)
Investment in mutual funds, net (288.74) (975.12) (313.75) (975.12)
Acquisition of subsidimy, net of cash - (109.52)
Interest income 11.68 6.63 14.20 9.20
Dividend income from mutual fimds 26.17 96.21 27.88 96.21
Net cash used in investing activities (B) (650.52) '1.408.82) (691.16) '1,410.59)

C. Cash floM frnm financing activitie1

Payment of dividend (985.28) - (985.28) -
Payment of principal portion on lease liabilities (47.24) (56.28) (50.57) (59.58)
Interest on lease liabilities (19.35) (19.26) (19.51) (19.40)
Repayment of borrowings - (13.55)
Proceeds from exercise of employee stock options 70.34 114.12 70.34 114.12
Net cash (used in)/ generated frnm rmancing activities (C) '981.53) 38.58 (985.02) 21.59

D. Net increue in cash and cash equivalents (A+B+C) (328.61) (356,65) (336.91) (378,07)
Cash and cash equivalents at the beginning of the year 466.35 570.00 564.01 717.83
Effects of movements in exchange rates on cash and cash equivalents - 14.45 (3.04)
Cash and cub equivalents at the end of the year 137.74 213.35 241.55 336,72

E. Components of Cash and Cash equivalents

Cashon band
Balance with banks:
- 0.09 0.10

(i) in current accounts 137.74 213.35 207.90 336.62

(ii) in deposits
137.74
-
213.35
33.56
241.55
-
336.72
for and on behalfofthe Board ofDrrectors of
KFin Technologies Limited
CIN: L72400TG2017PLC117649
Digitally signed by VEN KATA SATYA
NAGA SREEKANlH NADELLA
Date: 2024.10.28 16:09:34 +05'30'
Venkata Satya Naga Sreekanth Nadella
Managing Director & Chief Executive Officer
DIN: 08659728
Place: Hyderabad
Date: October 28, 2024
 Salarpuria Knowledge City, Orwell
B S R and Co B Wing, 6th Floor, Unit-3, Sy No. 83/1
Plot No. 02, Raidurg
Chartered Accountants Hyderabad – 500 081, India
Telephone + 91 407 182 2000
Fax + 91 407 182 2399

Limited Review Report on unaudited standalone financial results of KFin

Technologies Limited for the quarter ended 30 September 2024 and year to date
results for the period from 01 April 2024 to 30 September 2024 pursuant to Regulation
33 of Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, as amended

To the Board of Directors of KFin Technologies Limited

1. We have reviewed the accompanying Statement of unaudited standalone financial results of KFin
Technologies Limited (hereinafter referred to as “the Company”) for the quarter ended 30 September
2024 and year to date results for the period from 01 April 2024 to 30 September 2024 (“the
Statement”).
2. This Statement, which is the responsibility of the Company’s management and approved by its Board
of Directors, has been prepared in accordance with the recognition and measurement principles laid
down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under
Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India
and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
Our responsibility is to issue a report on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements
(SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the
Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial
information consists of making inquiries, primarily of persons responsible for financial and accounting
matters, and applying analytical and other review procedures. A review is substantially less in scope
than an audit conducted in accordance with Standards on Auditing and consequently does not enable
us to obtain assurance that we would become aware of all significant matters that might be identified
in an audit. Accordingly, we do not express an audit opinion.
4. Based on our review conducted as above, nothing has come to our attention that causes us to believe
that the accompanying Statement, prepared in accordance with the recognition and measurement
principles laid down in the aforesaid Indian Accounting Standard and other accounting principles
generally accepted in India, has not disclosed the information required to be disclosed in terms of
Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it
contains any material misstatement.
5. We draw attention to Note 3 of the statement of unaudited standalone financial results for the quarter
and for the period from 01 April 2024 to 30 September 2024, where the pre-amalgamated Company
was the Registrar and Transfer Agent (“RTA”) of a past client (“the Client”) until 5 April 2021. The
Client had a demat account with one of the Depository Participants (“DP”) for depositing its shares in
escrow for the purposes of its initialpublic offering (“IPO”). The Company identified that 1,294,489
shares were transferred by the DP (in 2011 and 2020) from the said escrow account of the Client to
the DP’s own demat account and to a Third Party’s demat account through an off-market transaction
without any authorisation from the Client. The Board of Directors of the Company after considering
legal advice transferred 1,294,489 shares to the escrow account of the Client on a ‘good faith and no
fault’ basis, after reducing the amount payable upon redemption, in future, of the Redeemable
Preference Shares issued in October 2021, by INR 300 million, pursuant to an indemnity clause
contained in the agreement for the issuance of such Redeemable Preference Shares. The dividend
received on such shares by the Company in the financial year 2021-22 of INR 4.08 million was also
transferred back to the Client.

The Company has recognised an amount of INR 81.34 million as a provision as of 30 September

Principal Office:

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center,
Western Express Highway, Goregaon (East), Mumbai - 400063
Page 1 of 2
B S R and Co

Limited Review Report (Continued)

KFin Technologies Limited
2024 in the statement of unaudited standalone financial results related to potential claims by the Client
(including dividends on such shares for the earlier periods). Pending the final settlement of terms to
be agreed with the Client, the Company has measured the said provision at its best estimate. The
Company will initiate proceedings against the concerned parties, including certain minority
shareholders, for recovery of the amount paid and payable by the Company to the Client in connection
with this matter upon completion of final settlement with the Client.

Our conclusion is not modified in respect of this matter.

For B S R and Co
Chartered Accountants
Firm’s Registration No.:128510W
AMIT Digitally signed by
AMIT KUMAR BAJAJ
KUMAR Date: 2024.10.28
BAJAJ 16:22:44 +05'30'

Amit Kumar Bajaj

Partner
Hyderabad Membership No.: 218685
28 October 2024 UDIN:24218685BKGPPX2195

Page 2 of 2
 KFin Technologies Limited
CIN: L72400TG2017PLC117649
Registered office address: Selenium, Tower B, Plot No- 31 & 32, Financial District, Naoakramguda, Serilingampally, Hyderabad, Rangareddi, Telangana - 500032
Statement of unaudited standalone financial results for the quarter and half-year ended September 30, 2024
(t in millions)
Standalone
SI. Quarter ended Half-year ended For the year ended
Particulars
No. September 30, 2024 June 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 March 31, 2024
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)

Income
I. Revenue from operations 2,692.28 2,295.91 2,004.17 4,988.19 3,759.55 8,108.27
2. Other income 79.11 78.51 61.42 157.62 113.24 239.21
Total income 2,771.39 2,374.42 2,065.59 5,145.81 3,872.79 8,347.48

3. Expenses
Employee benefits expense 933.65 887.65 703.77 1,821.30 1,400.92 2,971.62
Finance costs 10.72 11.56 31.73 22.28 60.59 83.25
Depreciation, impairment and amortisation expense 153.19 135.90 115.14 289.09 229.33 486.21
Other expenses 526.26 427.58 370.27 953.84 722.29 1,554.98
Total expenses 1,623.82 1,462.69 1,220.91 3,086.51 2,413.13 5,096.06

4 Profit before tax (1+2-3) 1,147.57 911.73 844.68 2,059.30 1,459.66 3,251.42
5 Tax expense 295.80 233.19 224.44 528.99 391.00 797.18
6. Profit for the period/ year (4-5) 851.77 678.54 620.24 1,530.31 1,068.66 2,454.24

7. Other comprehensive income ("OCI")

A. Items that will not be reclassified subsequently to statement ofprofit or loss
Remeasurement of defined benefit plans - - - - 21.18 (7.98)
Income tax relating to remeasurement of defioed benefit plans - - - - (5.33) 2.01
8. Total comprehensive income for the period/ year (6+7) 851.77 678.54 620.24 1,530.31 1,084.51 2,448.27

9 Earnings per equity share (Face value on'. 10 per share fully paid) in ii'.•
Basic 4.97 3.97 3.65 8.94 6.29 14.42
Diluted 4.93 3.93 3.61 8.86 6.23 14.30

10. Paid up equity share capital - Face value ofl'.10 per share 1,714.07 1,713.20 1,702.54 1,714.07 1,702.54 1,709.89
11 Other equity 9,706.63

(• Not annualised for the penods) for and on behalf of the Board of Directors of
KFin Technologies Limited
CIN: L72400TG2017PLC117649
Digitally signed by VEN KATA SATYA
NAGA SREEKANTH NADELLA
Date: 2024.10.28 16:09:49 +05'30'

Venkata Satya Naga Sreekanth Nadella

Managing Director and ChiefExecutive Officer
DIN: 08659728

Place: Hyderabad
Date: October 28, 2024
KFin Technologies Limited
Notes:
1. The above standalone financial results ofKFin Technologies Limited ("the Company") have been prepared in accordance with and comply in all material aspects with
the Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 ("the Act") read with relevant rules issued there under and in terms of
Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), as amended.

2. The above standalone financial results have been reviewed and recommended by the Audit Committee at its meeting held on October 28, 2024. The Board of Directors
at its meeting held on October 28, 2024 have approved the above results and taken them on record. The statutory auditors have expressed an unmodified review
conclusion on these results.

3. K.arvy Computershare Private Limited (KCPL), which got amalgamated into the Company with effect from November 17, 2018, was the Registrar and Transfer Agent
(RTA) of a past Client ("the Client") until April 5, 2021. The Client had a demat account ("Escrow Account") with one of the Depository Participants ("DP") for
depositing its shares in escrow for the purposes of its initial public offering. The Company identified in the fmancial year 2020-21 that 794,489 shares were transferred by
the DP (500,000 shares in 2011 (which translated into 1,000,000 shares pursuant to a bonus issue undertaken by the Client in 2017) and 294,489 shares in 2020) from the
Escrow Account to the DP's own demat account and to a third party's demat account through an off-market transaction without any authorisation from the Client and
without knowledge of the Company. The Board of Directors of the Company after considering legal advice purchased 1,294,489 shares and transferred these shares to the
Escrow Account of the Client on a 'good faith and no fault' basis, after reducing the amount payable upon redemption, in future, of the Redeemable Preference Shares
issued in October 2021, by,. 300.00 million. The dividend received on such shares by the Company in the fmancial year 2021-22 of ,. 4.08 million was also transferred
back to the Client.

Intimation letters were sent to the Client and SEBI on November 15, 2021 informing them of transfer of shares to the Client's Escrow Account and refund of dividend to
the Client. Further, the Board of Directors of the Company after considering legal advice, approved payment (based on an estimation of potential losses that may be
suffered by the Client) by the Company to the Client, for the purpose of settlement of any potential claims by the Client (including dividends on such shares for earlier
periods). The Company will initiate proceedings against the concerned parties, including certain minority shareholders, for recovery of the amount paid and payable by the
Company to the Client in connection with this matter upon completion of final settlement with the Client. Considering the assessment of recoverability, the Company has
made a provision of,. 81.34 million as at September 30, 2024. Pending the final settlement of terms to be agreed with the Client, the Management has measured the
provision at its best estimate.

4. During the half-year ended September 30, 2024, 418,525 number of employee stock options were exercised and allotted.

5. At the Company's annual general meeting held on 28 August 2024, the Company's shareholders have approved the final dividend on. 5.75 per share as recommended
by the Board.
6. These standalone financial results along with the review report of the statutory auditors of the Company are being filed with the National Stock Exchange of India
Limited (NSE) and BSE Limited and are also available on the Company's website.
7. On July 3, 2024, the Company divested its interest of 20.95% in Fintech Products and Solutions (India) Private Limited for a total cash consideration of,. 65.00
million.

for and on behalf of the Board ofDirectors of

KFin Technologies Limited
CIN: L72400TG2017PLC117649
Digitally signed by VEN KATA
SATYA NAGA SREEKANTH
NADELLA
Date: 2024.10.28 16:10:07 +05'30'

Venkata Satya Naga Sreekanth Nadella

Managing Director and ChiefExecutive Officer
DIN: 08659728

Place: Hyderabad
Date: October 28, 2024