SMIFS Capital Markets Limited (508905) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of SMIFS Capital Markets Limited ₹211, price ₹83.12, upside +153.4%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹29.31 – ₹148.22 · fair‑value band ₹135.69 – ₹331.16 · the ₹83.12 price screens below the ₹210.61 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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SMIFS Capital Markets Limited operates as a merchant banker and underwriter in India. It operates through Capital Market Operations, Investment Banking Operations, and Real Estate Business segments.
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SMIFS Capital Markets Limited operates as a merchant banker and underwriter in India. It operates through Capital Market Operations, Investment Banking Operations, and Real Estate Business segments. The company offers merchant banking/investment banking services in the areas of public issue/rights issue/preferential allotment, private placement, and underwriting; and operates as a dealer for debt/bonds and G-Sec products. It also provides advisory services to corporates in identifying suitable buyers/sellers of companies/businesses in case of mergers, acquisitions, and takeovers; assists corporate bodies through syndication of loans from various bodies, such as corporates/banks and financial institutions; offers project finance and construction finance; and markets IPOs and mutual funds. In addition, the company is involved in the placement of shares with private equity funds, FIIs, IFIs, and HNIs. Further, it engages in the real estate business. SMIFS Capital Markets Limited was incorporated in 1983 and is based in Kolkata, India.
Stock analysis
SMIFS Capital Markets Limited (508905) currently trades at ₹83.12, while our model-based Fair Value estimate is ₹210.61, implying the stock looks roughly 60.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹323.30 per share, and 11 of the 11 models we run sit above the ₹83.12 price.
Bear case: the Asset-Based group reads lowest at ₹206.46, and 0 of the 11 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹135.69 (bear) to ₹331.16 (bull), the price of ₹83.12 sits below 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 48/100 (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.
SMIFS Capital Markets Limited reported revenue of ₹480M in FY2026 versus ₹672M in FY2022, a compound −8.1%/yr. Reported net income was ₹107M in FY2026, compounding +51.7%/yr from FY2022.
Key figures
Market cap ₹159M (≈ $1.7M) · P/E ratio 15.6 · P/S ratio 3.49 · EPS (TTM) ₹0.1386 · Net margin 22.3% · Return on assets (EBIT) 0.1% · Operating margin −0.6% · Revenue (TTM) ₹509M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 153%, 508905 screens cheaper than that median.
Fair Value models
Bear ₹135.69Fair Value ₹210.61Bull ₹331.16
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.0706 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+22.0%
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.
−3.2%
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.
−6.9%
Start year 2021 (pandemic). Over 10 years: +1.8% a year
Revenue growth 12 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.
+2.2%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+42.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+42.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.89.1% vs 25.0%, picking up
Profit margin 2021 to 2026 ⓘ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.0% → 30%
2026 sits 553% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 3.3%/yr over ~7Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about −0.4% a year for the price.
Compare SMIFS Capital Markets Limited with another stock
Price, fair value, quality and upside side by side.
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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 · 461 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−20.7% · Below median
Profitability
Return on assets0.0% · Below median
Net margin (TTM)−0.6% · Bottom 25%
Operating margin (TTM)−0.6% · Bottom 25%
Growth and dividend
Revenue growth19.2% · Above median
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Capital Markets median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "SMIFS Capital Markets Limited Fair Value". https://www.fairvalue-calculator.com/stock/508905
Frequently asked questions
Is SMIFS Capital Markets Limited (508905) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹210.61 versus a price of ₹83.12, about +153% upside (undervalued).
What is the fair value of 508905?
Our model-based fair value for SMIFS Capital Markets Limited is ₹210.61 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹83.12.
What is the quality score of 508905?
SMIFS Capital Markets Limited has a Quality Score of 48/100. 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 SMIFS Capital Markets Limited (508905)?
Our model-based price target is the fair value of ₹210.61 (as of Sep 24, 2026) from 11 valuation models. Cautious scenario ₹135.69, optimistic scenario ₹331.16. It is a calculation from audited fundamentals, not an analyst target.
What is the SMIFS Capital Markets Limited stock forecast for 2026?
Our models put fair value at ₹210.61, about +153% upside versus a price of ₹83.12 (undervalued). Cautious scenario ₹135.69, optimistic scenario ₹331.16. The calculation is refreshed regularly with new filings.
What is the revenue of SMIFS Capital Markets Limited (508905)?
SMIFS Capital Markets Limited reported trailing-twelve-month revenue of about ₹509M (latest available figure, as of Sep 24, 2026).
What growth is priced into SMIFS Capital Markets Limited (508905)?
For today's price to be fair in a discounted-cash-flow model, SMIFS Capital Markets Limited would have to grow free cash flow by +3.7 % per year for five years (discount rate 13.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 508905 use?
Our models discount SMIFS Capital Markets Limited at 13.3 %: a base by market capitalisation (nano), damped by beta 1.31, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SMIFS Capital Markets Limited that is +3.7 % per year a year over ten years, using the same discount rate (13.3 %) and the same formula as our fair value.
How much growth has SMIFS Capital Markets Limited (508905) delivered so far?
Over the past 5 years revenue at SMIFS Capital Markets Limited grew -6.9 % a year. The price currently implies +3.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SMIFS Capital Markets Limited (508905) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into SMIFS Capital Markets Limited (+3.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SMIFS Capital Markets Limited (508905)?
The free-cash-flow yield on the price is 10.58 %: that much free cash flow SMIFS Capital Markets Limited produces per unit of market value. When it exceeds the discount rate of our models (13.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SMIFS Capital Markets Limited (508905)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SMIFS Capital Markets Limited it is ₹210.61 per share (as of Sep 24, 2026), against a price of ₹83.12. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is SMIFS Capital Markets Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 508905 trades below its calculated fair value: price ₹83.12, fair value ₹210.61, a gap of about +153% (undervalued). 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 508905?
No. The price is what the market pays today (₹83.12); the fair value is what the company's own numbers justify (₹210.61). For SMIFS Capital Markets Limited the two are ₹127.49 per share apart. That gap is exactly why we show both numbers side by side.
How much is SMIFS Capital Markets Limited worth?
The market values SMIFS Capital Markets Limited at about ₹159M (market capitalisation, as of Sep 24, 2026). Per share that is ₹83.12; our models calculate a fair value of ₹210.61 per share.
What do the bullish and bearish scenarios say about 508905?
Our models span a range for SMIFS Capital Markets Limited: cautious scenario ₹135.69, base ₹210.61, optimistic ₹331.16 per share (as of Sep 24, 2026, price ₹83.12). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 508905?
SMIFS Capital Markets Limited trades at a price-to-earnings ratio of 15.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹210.61 is built from several models across several years.
How solid is the balance sheet of SMIFS Capital Markets Limited (508905)?
Balance-sheet figures for SMIFS Capital Markets Limited (as of Sep 24, 2026): debt of 0.01 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is 508905 from its 52-week high?
SMIFS Capital Markets Limited trades at ₹83.12, about 36% below its 52-week high of ₹129.63 and 20% above the low of ₹69.13 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹210.61 is for.
Which stocks are comparable to SMIFS Capital Markets Limited?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, 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 SMIFS Capital Markets Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹83.12, calculated fair value ₹210.61 (+153%), Quality Score 48/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 508905 calculated?
We run SMIFS Capital Markets Limited through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹210.61, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. SMIFS Capital Markets Limited currently trades 61 % below its own fair value, and the market average says nothing about that. 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 SMIFS Capital Markets Limited (508905)?
The closing price on Oct 1, 2026 was ₹83.12. Our model-based fair value is ₹210.61, about +153% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SMIFS Capital Markets Limited right now?
The price is below even our cautious bear case (₹135.69). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (48/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (₹135.69 to ₹331.16) leaves room in how you read the outcome.
Key figures of SMIFS Capital Markets Limited
How large is the market capitalisation of SMIFS Capital Markets Limited (508905)?
The market capitalisation of SMIFS Capital Markets Limited is ₹159M (≈ $1.7M). 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 is the P/S ratio of SMIFS Capital Markets Limited (508905)?
The price-to-sales ratio of SMIFS Capital Markets Limited is 3.49 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SMIFS Capital Markets Limited (508905)?
Earnings per share at SMIFS Capital Markets Limited are ₹0.1386 (price ÷ EPS = P/E 15.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of SMIFS Capital Markets Limited (508905)?
The net margin of SMIFS Capital Markets Limited is 22.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of SMIFS Capital Markets Limited (508905)?
On an EBIT basis the return on assets of SMIFS Capital Markets Limited is 0.1% (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 SMIFS Capital Markets Limited (508905)?
The operating margin of SMIFS Capital Markets Limited is −0.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SMIFS Capital Markets Limited (508905)?
Revenue at SMIFS Capital Markets Limited is growing +19.2% versus a year earlier (3y avg −3.2%). 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 SMIFS Capital Markets Limited (508905)?
Earnings per share at SMIFS Capital Markets Limited are growing −78.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SMIFS Capital Markets Limited (508905) carry?
The net debt of SMIFS Capital Markets Limited is ₹19.1M (fiscal year 2025, ≈ 0.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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