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Arihant Capital Markets Limited (511605) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Arihant Capital Markets Limited ₹182, price ₹88.27, upside +105.8%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? No
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Broad data
Sep 24, 2026
Arihant Capital Markets Limited
511605 · BSECheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.
✓Fair value ₹181.64 · Strongly undervalued (+105.8%)
!Quality 50/100
!Expensive Growth (revenue 5y +22.2 %/yr)
✓Highly profitable · 22.6% net margin (TTM)
✓Low debt
✓1.1% dividend yield · Well covered
✓Wide moat 71/100
!The models disagree: range ₹89.24 to ₹324.11
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
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 ₹12.54 – ₹119.00 · fair‑value band ₹89.24 – ₹324.11 · the ₹88.27 price screens below the ₹181.64 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Arihant Capital Markets Limited, together with its subsidiaries, provides various financial products and services to individuals, corporations, and financial institutions primarily in India.
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Arihant Capital Markets Limited, together with its subsidiaries, provides various financial products and services to individuals, corporations, and financial institutions primarily in India. Its products for individuals include equities, mutual funds, derivatives, currency, commodities, online and mobile trading, private client group, research, stock lending and borrowing, and investment and trading webinars; and Demat, NRI, RGESS, IPO, and depository services, as well as fixed income products. The company also offers merchant banking and investment banking, institutional broking, FPI, and corporate investment services for corporate and institution. Arihant Capital Markets Limited was founded in 1992 and is based in Mumbai, India.
Stock analysis
Arihant Capital Markets Limited (511605) currently trades at ₹88.27, while our model-based Fair Value estimate is ₹181.64, implying the stock looks roughly 51.4% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of ₹411.88 per share, and 11 of the 13 models we run sit above the ₹88.27 price.
Bear case: the Dividend Discount group reads lowest at ₹37.81, and 2 of the 13 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹89.24 (bear) to ₹324.11 (bull), the price of ₹88.27 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 50/100 (below-average quality), in the Financial sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Arihant Capital Markets Limited reported revenue of ₹2.5B in FY2025 versus ₹1.2B in FY2021, a compound +20.9%/yr. Reported net income was ₹587M in FY2025, compounding +14.1%/yr from FY2021.
Key figures
Market cap ₹1.3B (≈ $13.4M) · P/E ratio 8.6 · P/S ratio 2.04 · EPS (TTM) ₹9.36 · Dividend yield 1.1% · Net margin 23.7% · Return on equity 12.8% · Return on assets (EBIT) 11.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 25% below its 52-week high and 51% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial peers we cover trades at 0% fair-value upside, at 106%, 511605 screens cheaper than that median.
Fair Value models
Bear ₹89.24
Fair Value ₹181.64
Bull ₹324.11
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 2025 figures (about 12 months old). Earnings retained since then (₹8.36 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.
Highest evidence
Growth DCF
₹86.94
₹159.75
₹282.70
75
Residual Income
₹183.03
₹246.19
₹402.60
74
Owner Earnings
₹278.08
₹533.75
₹990.47
73
All 13 models by family
DCF Models
Owner Earnings
₹278.08
₹533.75
₹990.47
73
5Y P/E Exit
₹201.28
₹411.48
₹664.98
68
10Y P/E Exit
₹162.44
₹339.95
₹615.53
60
Earnings-Based
Graham-Dodd
₹191.70
₹1,040
₹1,442
63
Lynch FV
₹288.32
₹411.88
₹535.45
61
Dividend Discount
Gordon GGM
₹21.96
₹43.75
₹66.25
67
DDM Multi-Stage
₹21.96
₹37.81
₹46.18
67
Multiples
P/E Multiple
₹274.87
₹366.49
₹458.12
63
P/B Multiple
₹193.87
₹258.49
₹323.11
55
Asset-Based
NCAV (Graham)
₹92.32
₹123.70
₹184.63
54
Growth DCF
Growth DCF
₹86.94
₹159.75
₹282.70
75
Rev-Margin DCF
₹139.64
₹271.58
₹451.04
70
Economic Profit
Residual Income
₹183.03
₹246.19
₹402.60
74
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Set up alert →Quality Score breakdown
Overall quality
50/100
Of which business quality 46 · Market factors (momentum, volatility) 46
Profitability
52
Margins and returns on capital today
Quality Growth
40
Are margins and returns improving?
Cashflow
24
Earnings quality: real cash, not paper profit
Fin. Strength
45
Balance sheet, leverage, solvency risk
Investment
42
Disciplined investing over empire-building
Low Volatility
44
Calm price path (market factor)
Momentum
52
Price trend over the last 3–12 months (market factor)
52W Momentum
38
Distance to the 52-week high (market factor)
Net Issuance
82
Share count: buybacks or dilution?
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.
62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+5.2%
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.
+13.4%
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.
+22.2%
Start year 2020 (pandemic). Over 10 years: +16.5% a year
Revenue growth 11 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.
+17.5%
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’25
What shareholders gained per year (last 5 years), in INR ⓘ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. 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.
+28.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+27.4%
Dividend (yield on the price)1.1%
Profit margin 2020 to 2025 ⓘ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.34% → 38%
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Indian Stocks
- Valuation of the India 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
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Frequently asked questions
Is Arihant Capital Markets Limited (511605) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹181.64 versus a price of ₹88.27, about +106% upside (undervalued).
What is the fair value of 511605?
Our model-based fair value for Arihant Capital Markets Limited is ₹181.64 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹88.27.
What is the quality score of 511605?
Arihant Capital Markets Limited has a Quality Score of 50/100. 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 Arihant Capital Markets Limited (511605)?
Our model-based price target is the fair value of ₹181.64 (as of Sep 24, 2026) from 13 valuation models. Cautious scenario ₹89.24, optimistic scenario ₹324.11. It is a calculation from audited fundamentals, not an analyst target.
What is the Arihant Capital Markets Limited stock forecast for 2026?
Our models put fair value at ₹181.64, about +106% upside versus a price of ₹88.27 (undervalued). Cautious scenario ₹89.24, optimistic scenario ₹324.11. The calculation is refreshed regularly with new filings.
What is the revenue of Arihant Capital Markets Limited (511605)?
Arihant Capital Markets Limited reported trailing-twelve-month revenue of about ₹860M (latest available figure, as of Sep 24, 2026).
Does Arihant Capital Markets Limited pay a dividend?
Arihant Capital Markets Limited currently shows a dividend yield of about 1.13% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Arihant Capital Markets Limited (511605)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Arihant Capital Markets Limited it is ₹181.64 per share (as of Sep 24, 2026), against a price of ₹88.27. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Arihant Capital Markets Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 511605 trades below its calculated fair value: price ₹88.27, fair value ₹181.64, a gap of about +106% (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 511605?
No. The price is what the market pays today (₹88.27); the fair value is what the company's own numbers justify (₹181.64). For Arihant Capital Markets Limited the two are ₹93.37 per share apart. That gap is exactly why we show both numbers side by side.
How much is Arihant Capital Markets Limited worth?
The market values Arihant Capital Markets Limited at about ₹1.3B (market capitalisation, as of Sep 24, 2026). Per share that is ₹88.27; our models calculate a fair value of ₹181.64 per share.
What do the bullish and bearish scenarios say about 511605?
Our models span a range for Arihant Capital Markets Limited: cautious scenario ₹89.24, base ₹181.64, optimistic ₹324.11 per share (as of Sep 24, 2026, price ₹88.27). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 511605 from its 52-week high?
Arihant Capital Markets Limited trades at ₹88.27, about 25% below its 52-week high of ₹117.25 and 51% above the low of ₹58.33 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹181.64 is for.
Which stocks are comparable to Arihant Capital Markets Limited?
From the same area (Financial) we also value IndiaNivesh Limited, BAMPSL, ODYCORP, Cni Research Limited, 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 Arihant Capital Markets Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹88.27, calculated fair value ₹181.64 (+106%), Quality Score 50/100, from 13 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 511605 calculated?
We run Arihant Capital Markets Limited through 13 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 ₹181.64, 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. Arihant Capital Markets Limited currently trades 51 % 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 Arihant Capital Markets Limited (511605)?
The closing price on Oct 1, 2026 was ₹88.27. Our model-based fair value is ₹181.64, about +106% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Arihant Capital Markets Limited right now?
The model range is unusually wide (₹89.24 to ₹324.11). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality. 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 Arihant Capital Markets Limited
How large is the market capitalisation of Arihant Capital Markets Limited (511605)?
The market capitalisation of Arihant Capital Markets Limited is ₹1.3B (≈ $13.4M). 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/E ratio of Arihant Capital Markets Limited (511605)?
The price-to-earnings ratio of Arihant Capital Markets Limited is 8.6 (as of Jul 4, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Arihant Capital Markets Limited (511605)?
The price-to-sales ratio of Arihant Capital Markets Limited is 2.04 (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 Arihant Capital Markets Limited (511605)?
Earnings per share at Arihant Capital Markets Limited are ₹9.36 (price ÷ EPS = P/E 8.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Arihant Capital Markets Limited (511605)?
The dividend yield of Arihant Capital Markets Limited is 1.1% (payout 10.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Arihant Capital Markets Limited (511605)?
The net margin of Arihant Capital Markets Limited is 23.7% (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 Arihant Capital Markets Limited (511605)?
The return on equity (ROE) of Arihant Capital Markets Limited is 12.8% (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 Arihant Capital Markets Limited (511605)?
On an EBIT basis the return on assets of Arihant Capital Markets Limited is 11.3% (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 Arihant Capital Markets Limited (511605)?
The operating margin of Arihant Capital Markets Limited is 29.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Arihant Capital Markets Limited (511605)?
Revenue at Arihant Capital Markets Limited is growing +26.6% versus a year earlier (3y avg +13.4%). 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 Arihant Capital Markets Limited (511605)?
Earnings per share at Arihant Capital Markets Limited are growing +28.4% versus a year earlier. How much earnings per share grew versus a year earlier.
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