Cni Research Limited (512018) fair value: what the stock is really worth
As of Oct 28, 2026: fair value (intrinsic value) of Cni Research Limited stock ₹2.85, price ₹7.16, upside -60.2%, quality 55 out of 100. Rating: strongly overvalued. 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. As of Oct 27, 2026.
How to read this chart
60‑month range ₹1.65 – ₹17.62 · fair‑value band ₹2.25 – ₹3.76 · the ₹7.16 price screens above the ₹2.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Oct 27, 2026.
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Cni Research Limited provides research content to investors through tie ups with global agencies in India. The company's products include breaking news, special feature, street calls, Chakry comments, insights, FII sensors, performance speak, smart quotes, manage newsletter, and CNI research reports.
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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 Chamatkar.
Net (India) Ltd. and changed its name to Cni Research Limited in July 2007. Cni Research Limited was incorporated in 1982 and is based in Mumbai, India.
Stock analysis
Cni Research Limited (512018) currently trades at ₹7.16, while our model-based Fair Value estimate is ₹2.85, 60.2% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 6 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: ₹2.25 (bear) to ₹3.76 (bull), the price of ₹7.16 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 55/100 (solid quality), in the Financial sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Cni Research Limited reported revenue of ₹3.4M in FY2026 versus ₹63.7M in FY2022, a compound −52.1%/yr. Reported net income was −₹4.9M in FY2026.
Key figures
Market cap ₹217M (≈ $2.3M) Micro · P/S ratio 7.98 · EPS (TTM) ₹−0.0217 · Net margin −145% · Return on equity −0.5% · Return on assets (EBIT) −7.4% · Operating margin −1.8% · Revenue growth (YoY) −92.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 13 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial peers we cover trades at 10% fair-value upside, at −60%, 512018 screens richer than that median.
Fair Value models
Bear₹2.25Fair Value ₹2.85Bull₹3.76
Price ₹7.16 · Upside -60.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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.Coverage ⓘCoverage = 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.23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−92.4%
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.
−66.9%
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.
−22.3%
Start year 2021 (pandemic). Over 10 years: −39.2% 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.
−16.7%
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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.
−9.6% (2021) → −5.8% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
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).
+18.6%
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 +13.9% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Investment Brokerage - National” was too small, so the broader sector is used.)Financials · 3180 stocks
Beats the sector median on 2/10 measures
Overall it trails its sector peers.
Valuation
Quality Score55 · Above median
Fair Value upside−60.2% · Bottom 25%
Profitability
Return on assets−3.6% · Bottom 25%
Net margin (12 months)−1.8% · Bottom 25%
Operating margin (12 months)−1.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−92.8% · Bottom 25%
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Financials median · lower = cheaper
P/B1.59× · Pricier than median
P/S (12 months)7.99× · Priciest 25%
Price / free cash flow6.8× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 27
FUTURE (revenue growth)0· sector 45
PAST (return on equity)0· sector 38
HEALTH (low debt)100· sector 87
DIVIDEND (yield)0· sector 57
VALUE 0: the price sits above our fair-value range.
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). "Cni Research Limited Fair Value". https://www.fairvalue-calculator.com/stock/512018
Frequently asked questions
Is Cni Research Limited (512018) overvalued or undervalued?
As of Oct 27, 2026, our model estimates a fair value of ₹2.85 versus a price of ₹7.16, about −60% upside (overvalued).
What is the fair value of 512018?
Our model-based fair value for Cni Research Limited is ₹2.85 (as of Oct 27, 2026), built from audited fundamentals. The current price: ₹7.16.
What is the quality score of 512018?
Cni Research Limited has a Quality Score of 55/100. 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 Limited (512018)?
Our model-based price target is the fair value of ₹2.85 (as of Oct 27, 2026) from 2 valuation models. Cautious scenario ₹2.25, optimistic scenario ₹3.76. It is a calculation from audited fundamentals, not an analyst target.
What is the Cni Research Limited stock forecast for 2026?
Our models put fair value at ₹2.85, about −60% upside versus a price of ₹7.16 (overvalued). Cautious scenario ₹2.25, optimistic scenario ₹3.76. The calculation is refreshed regularly with new filings.
What growth is priced into Cni Research Limited (512018)?
For today's price to be fair in a discounted-cash-flow model, Cni Research Limited would have to grow free cash flow by +18.6 % per year for five years (discount rate 11.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -22.3 % per year. As of Oct 27, 2026.
What discount rate (WACC) does the fair value of 512018 use?
Our models discount Cni Research Limited at 11.5 %: a base by market capitalisation (nano), damped by beta 0.71, 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 Cni Research Limited that is +18.6 % per year a year over ten years, using the same discount rate (11.5 %) and the same formula as our fair value.
How much growth has Cni Research Limited (512018) delivered so far?
Over the past 5 years revenue at Cni Research Limited grew -22.3 % a year. The price currently implies +18.6 % 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 Cni Research Limited (512018) growing?
The median revenue growth in the sector is +9.0 % a year. That is the yardstick for the growth priced into Cni Research Limited (+18.6 % 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 Cni Research Limited (512018)?
The free-cash-flow yield on the price is 3.89 %: that much free cash flow Cni Research Limited produces per unit of market value. When it exceeds the discount rate of our models (11.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cni Research Limited (512018)?
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 Limited it is ₹2.85 per share (as of Oct 27, 2026), against a price of ₹7.16. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Cni Research Limited stock overvalued or undervalued in 2026?
As of Oct 27, 2026, 512018 trades above its calculated fair value: price ₹7.16, fair value ₹2.85, a gap of about −60% (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 512018?
No. The price is what the market pays today (₹7.16); the fair value is what the company's own numbers justify (₹2.85). For Cni Research Limited the two are ₹4.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cni Research Limited worth?
The market values Cni Research Limited at about ₹217M (market capitalisation, as of Oct 27, 2026). Per share that is ₹7.16; our models calculate a fair value of ₹2.85 per share.
What do the bullish and bearish scenarios say about 512018?
Our models span a range for Cni Research Limited: cautious scenario ₹2.25, base ₹2.85, optimistic ₹3.76 per share (as of Oct 27, 2026, price ₹7.16). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Cni Research Limited (512018)?
Balance-sheet figures for Cni Research Limited (as of Oct 27, 2026): return on equity −0.5%. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is 512018 from its 52-week high?
Cni Research Limited trades at ₹7.16, about 32% below its 52-week high of ₹10.49 and at the low of ₹7.15 (as of Oct 28, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2.85 is for.
Which stocks are comparable to Cni Research Limited?
From the same area (Financial) we also value PROFINC, GARNETINT, IndiaNivesh Limited, BNRSEC, 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 Limited stock attractive at the current price?
The data as of Oct 27, 2026: price ₹7.16, calculated fair value ₹2.85 (−60%), Quality Score 55/100, from 2 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 512018 calculated?
We run Cni Research Limited through 2 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 ₹2.85, 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 13.4 % above its aggregate fair value. Cni Research Limited 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 Limited (512018)?
The closing price on Oct 28, 2026 was ₹7.16. Our model-based fair value is ₹2.85, about −60% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cni Research Limited right now?
The price sits above even our optimistic bull case (₹3.76). The favourable scenario is already priced in. 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 but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. 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 Limited
How large is the market capitalisation of Cni Research Limited (512018)?
The market capitalisation of Cni Research Limited is ₹217M (≈ $2.3M). 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 Cni Research Limited (512018)?
The price-to-sales ratio of Cni Research Limited is 7.98 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cni Research Limited (512018)?
Earnings per share at Cni Research Limited are ₹−0.0217. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cni Research Limited (512018)?
The net margin of Cni Research Limited is −145% (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 return on equity of Cni Research Limited (512018)?
The return on equity (ROE) of Cni Research Limited is −0.5% (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 Limited (512018)?
On an EBIT basis the return on assets of Cni Research Limited is −7.4% (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 Limited (512018)?
The operating margin of Cni Research Limited is −1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cni Research Limited (512018)?
Revenue at Cni Research Limited is growing −92.8% versus a year earlier (3y avg −66.9%). 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 Limited (512018)?
Earnings per share at Cni Research Limited are growing +933% versus a year earlier. How much earnings per share grew versus a year earlier.
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Thin data
Oct 27, 2026