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STOCK COMPARISON

Ajcon Global Services vs Madhusudan Securities: Fair Value & Quality

Both stocks run through our valuation models. Here is how Ajcon Global Services (AJCON) and Madhusudan Securities (MADHUSE) compare, as of Oct 3, 2026.

As of Oct 3, 2026, Fair Value Calculator sees Madhusudan Securities as the less overvalued of the two: Ajcon Global Services trades at ₹5.64 versus a fair value of ₹2.41 (−57.3%), while Madhusudan Securities trades at ₹18.17 versus ₹16.74 (−7.9%).
Ajcon Global Services
AJCON.BSE · INR · Financials
−57.3%
upside to fair value
overvalued
Price₹5.64
Fair Value₹2.41
Quality49/100
Madhusudan Securities
MADHUSE.BSE · INR · Financials
−7.9%
upside to fair value
fairly valued
Price₹18.17
Fair Value₹16.74
Quality35/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Ajcon Global ServicesMadhusudan Securities
Valuation
188.0×P/E (TTM)13.9×
0.96×P/S (TTM)5.34×
1.36×P/B0.51×
21.9×EV/EBITDA5.9×
−57.3%Fair value upside−7.9%
Profitability
10.6%Operating margin-43.8%
0.9%Return on equity4.4%
0.6%Return on assets2.5%
Growth
13.2%Revenue growth (YoY)52.2%
60.4%Avg. growth/yr (3Y)1,159.8%
-6.0%Avg. growth/yr (5Y)140.3%
−58.6%Value creation/yrn/a
Balance & size
n/aInterest coverage (EBIT/interest)32,689.0×
0.31×Debt / equity0.00×
$4MMarket cap$4M
weakGrowth qualitymixed

Madhusudan Securities leads: 2 to 9 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Ajcon Global Servicesof which business quality 47 · market factors 26 Madhusudan Securitiesof which business quality 37 · market factors 36
ProfitabilityMargins and returns on capital today
26
32
Quality GrowthAre margins and returns improving?
48
76
CashflowEarnings quality: real cash, not paper profit
10
0
Fin. StrengthBalance sheet, leverage, solvency risk
60
86
InvestmentDisciplined investing over empire-building
87
25
Low VolatilityCalm price path (market factor)
50
58
MomentumPrice trend over the last 3–12 months (market factor)
24
32
52W MomentumDistance to the 52-week high (market factor)
3
18
Net IssuanceShare count: buybacks or dilution?
82
0

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyAjcon Global ServicesPrice ₹5.64Madhusudan SecuritiesPrice ₹18.17
Multiples−90.2%below the price₹0.56+8.4%close to the price₹19.69
Asset-Based−50.7%below the price₹2.78+31.5%above the price₹23.89
Economic Profit−54.8%below the price₹2.55+44.9%above the price₹26.32
Minimum−90.2%below the price₹0.56+8.4%close to the price₹19.69
Maximum−50.7%below the price₹2.78+44.9%above the price₹26.32
Median−54.8%below the price₹2.55+31.5%above the price₹23.89
Geometric mean−72.0%below the price₹1.58+27.3%above the price₹23.13

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Ajcon Global Services: 4 of 4 models see the stock below the current price.

Madhusudan Securities: 1 of 4 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Madhusudan Securities
Price ₹18.17
Fair Value ₹16.74
Bear ₹12.56Bull ₹20.92

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Ajcon Global Services · Financials

Quality score49 · below median
Fair value upside−57.3% · bottom 25%

Madhusudan Securities · Financials

Quality score35 · bottom 25%
Fair value upside−7.9% · below median

Bottom line

As of Oct 3, 2026, Fair Value Calculator sees Madhusudan Securities as the less overvalued of the two: Ajcon Global Services trades at ₹5.64 versus a fair value of ₹2.41 (−57.3%), while Madhusudan Securities trades at ₹18.17 versus ₹16.74 (−7.9%).

Ajcon Global Services has the higher quality score (49/100).

Open Madhusudan Securities live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.