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CNI RESEARCH LTD. (CNIRESLTD) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of CNI RESEARCH LTD. stock ₹5.50, price ₹8.31, that is 33.8% below the price, quality 43 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Financial Services IN · ISIN INE135H01029

CR CNI RESEARCH LTD. logo Thin data Nov 10, 2026

CNI RESEARCH LTD.

CNIRESLTD · BSE
Expensive, weak quality

Our calculation puts a fair price 34% below what the stock costs today.

Low debt
Quality 43/100
Profit last quarter 65% below a year ago.
Fair value ₹5.50 · Overvalued
Weak Growth (revenue 3y −17.3 %/yr in INR)
Loss-making · -110.1% net margin (FY2025)
Negative free cash flow
Trails peers (1/9)
Narrow moat 15/100
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹17.62 ₹1.65 Fair Value ₹5.50 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range ₹1.65 – ₹17.62 · fair‑value band ₹4.12 – ₹6.87 · the ₹8.31 price screens above the ₹5.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Tomorrow Technologies Global Innovations Limited operates as a research firm. It provides research content to investors through tie ups with global agencies in India.

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The company's products include breaking news, special feature, street calls and preview, comments, insights, performance speak, smart quotes, manage news letter, and research reports. It also provides statements on the behavior of Indian economy and Indian capital market.

In addition, the company is involved in the purchase and sale of equity shares. It serves retail and small investors. The company was formerly known as Cni Research Limited and changed its name to Tomorrow Technologies Global Innovations Limited in January 2024.

Tomorrow Technologies Global Innovations Limited was incorporated in 1982 and is based in Mumbai, India.

Stock analysis

CNI RESEARCH LTD. (CNIRESLTD) currently trades at ₹8.31, while our estimate is ₹5.50, 34% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: ₹4.12 (bear) to ₹6.87 (bull), the price of ₹8.31 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 43/100 (below-average quality), in the Financial Services sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

CNI RESEARCH LTD. reported revenue of ₹44.4M in FY2025 versus −₹23.1M in FY2021. Reported net income was −₹48.8M in FY2025.

Key figures

Market cap ₹1.6B (≈ $17.1M) Micro · EPS (TTM) ₹−0.4400 · Net margin −110% · Return on equity −32.3% · Return on assets (EBIT) −4.2% (5-year average) · Operating margin 9.8% · Revenue growth (YoY) −93.4% · EPS growth (YoY) −65.0%.

What moves the price

The share trades about 19% below its 52-week high and 16% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at −34%, CNIRESLTD screens richer than that median.

Fair Value

Bear ₹4.12 Fair Value ₹5.50 Bull ₹6.87
Price ₹8.31 · Downside -33.8%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 43/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 3
How much profit the company makes from its sales and capital
Quality Growth 0
Are margins and returns getting better?
Cashflow 41
Do the profits arrive as real cash?
Financial strength 68
Debt, balance sheet and risk of trouble
Investment 76
Does it invest with discipline instead of growing at any price?
Low Volatility 62
How calm the share price moves, does not count
Price momentum 31
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 24
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 28/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−57.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−17.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.8%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.6%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−10.8% (2020) → −2.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

CNIRESLTD screens overvalued: fair value 34% below the price. Compare with Morgan Stanley →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 455 stocks

Beats the industry median on 0/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 43 · Below median
Fair Value upside −33.8% · Bottom 25%
Profitability
Return on assets −31.8% · Bottom 25%
Net margin (12 months) −110.1% · Bottom 25%
Operating margin (12 months) 9.8% · Below median
Growth and dividend
Revenue growth (quarter YoY) −93.4% · Bottom 25%

Valuation Multiplesvs Capital Markets median · lower = cheaper

P/B 10.48× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 32
FUTURE (revenue growth)0 · sector 58
PAST (return on equity)0 · sector 31
HEALTH (low debt)100 · sector 94
DIVIDEND (yield)0 · sector 46

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Morgan Stanley MS $187.56 $260.72 +39% vs CNIRESLTD
The Charles Schwab Corporation SCHW $93.03 $117.60 +26% vs CNIRESLTD
Guotai Haitong Securities Co 601211 ¥16.21 ¥18.02 +11% vs CNIRESLTD
Nomura Holdings NMR $9.51 $10.17 +7% vs CNIRESLTD
The Goldman Sachs Group GS $910.19 $766.86 −16% vs CNIRESLTD
CITIC Securities Company 600030 ¥25.53 ¥20.42 −20% vs CNIRESLTD
Robinhood Markets, Inc HOOD $81.33 $47.60 −41% vs CNIRESLTD
Macquarie Group MQG A$249.23 A$123.84 −50% vs CNIRESLTD
East Money Information Co 300059 ¥18.78 ¥6.72 −64% vs CNIRESLTD
Interactive Brokers Group IBKR $77.59 $17.48 −77% vs CNIRESLTD

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CNI RESEARCH LTD.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "CNI RESEARCH LTD. Fair Value". https://www.fairvalue-calculator.com/stock/CNIRESLTD

Frequently asked questions

Is CNI RESEARCH LTD. (CNIRESLTD) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is ₹5.50 versus a price of ₹8.31, about 34% lower (overvalued).
What is the fair value of CNIRESLTD?
Our estimate for CNI RESEARCH LTD. is ₹5.50 (as of Nov 10, 2026), built from audited fundamentals. The current price: ₹8.31.
What is the quality score of CNIRESLTD?
CNI RESEARCH LTD. has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for CNI RESEARCH LTD. (CNIRESLTD)?
Our calculated price target is the estimate of ₹5.50 (as of Nov 10, 2026). Cautious scenario ₹4.12, optimistic scenario ₹6.87. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the CNI RESEARCH LTD. stock forecast for 2026?
Our estimate puts fair value at ₹5.50, about 34% lower versus a price of ₹8.31 (overvalued). Cautious scenario ₹4.12, optimistic scenario ₹6.87. The calculation is refreshed regularly with new filings.
What is the intrinsic value of CNI RESEARCH LTD. (CNIRESLTD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CNI RESEARCH LTD. it is ₹5.50 per share (as of Nov 10, 2026), against a price of ₹8.31.
Is CNI RESEARCH LTD. stock overvalued or undervalued in 2026?
As of Nov 10, 2026, CNIRESLTD trades above its calculated fair value: price ₹8.31, fair value ₹5.50, a gap of about −34% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CNIRESLTD?
No. The price is what the market pays today (₹8.31); the fair value is what the company's own numbers justify (₹5.50). For CNI RESEARCH LTD. the two are ₹2.81 per share apart. That gap is exactly why we show both numbers side by side.
How much is CNI RESEARCH LTD. worth?
The market values CNI RESEARCH LTD. at about ₹1.6B (market capitalisation, as of Nov 10, 2026). Per share that is ₹8.31; our models calculate a fair value of ₹5.50 per share.
What do the bullish and bearish scenarios say about CNIRESLTD?
Our models span a range for CNI RESEARCH LTD.: cautious scenario ₹4.12, base ₹5.50, optimistic ₹6.87 per share (as of Nov 10, 2026, price ₹8.31). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of CNI RESEARCH LTD. (CNIRESLTD)?
Balance-sheet figures for CNI RESEARCH LTD. (as of Nov 10, 2026): return on equity −32.3%. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is CNIRESLTD from its 52-week high?
CNI RESEARCH LTD. trades at ₹8.31, about 19% below its 52-week high of ₹10.31 and 16% above the low of ₹7.15 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹5.50 is for.
Which stocks are comparable to CNI RESEARCH LTD.?
From the same area (Financial Services) we also value Morgan Stanley, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CNI RESEARCH LTD. stock attractive at the current price?
The data as of Nov 10, 2026: price ₹8.31, calculated fair value ₹5.50 (−34%), Quality Score 43/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. CNI RESEARCH LTD. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CNI RESEARCH LTD. (CNIRESLTD)?
The closing price on Nov 9, 2026 was ₹8.31. Our estimate is ₹5.50, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CNI RESEARCH LTD. right now?
The price sits above even our optimistic bull case (₹6.87). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of CNI RESEARCH LTD.

How large is the market capitalisation of CNI RESEARCH LTD. (CNIRESLTD)?
The market capitalisation of CNI RESEARCH LTD. is ₹1.6B (≈ $17.1M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of CNI RESEARCH LTD. (CNIRESLTD)?
Earnings per share at CNI RESEARCH LTD. are ₹−0.4400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of CNI RESEARCH LTD. (CNIRESLTD)?
The net margin of CNI RESEARCH LTD. is −110% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CNI RESEARCH LTD. (CNIRESLTD)?
The return on equity (ROE) of CNI RESEARCH LTD. is −32.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CNI RESEARCH LTD. (CNIRESLTD)?
On an EBIT basis the return on assets of CNI RESEARCH LTD. is −4.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CNI RESEARCH LTD. (CNIRESLTD)?
The operating margin of CNI RESEARCH LTD. is 9.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CNI RESEARCH LTD. (CNIRESLTD)?
Revenue at CNI RESEARCH LTD. is growing −93.4% versus a year earlier (3y avg −17.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CNI RESEARCH LTD. (CNIRESLTD)?
Earnings per share at CNI RESEARCH LTD. are growing −65.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does CNI RESEARCH LTD. (CNIRESLTD) generate?
The free cash flow of CNI RESEARCH LTD. is −₹72.2M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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