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CIL SECURITIES LTD. (CILSEC) Fair Value & Analysis

Financial Services · IN · Market cap ₹180M

CS CIL SECURITIES LTD. CILSEC · BSE
Price₹36.39
Fair Value₹43.39
Upside+19.2%
Quality66/100
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Mixed Growth
Highly profitable · 20.0% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Moderate moat 46/100
Evidence: High Range ₹32.54 – ₹54.24 Share as image

Fair value as of: Aug 13, 2026

From 12 valuation models · updated 6 days ago

Fair value updated Aug 13, 2026, revised from ₹57.18 to ₹43.39 (−24.1%) since Aug 12, 2026.

A solid business, screening 19% undervalued on our models.

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What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from ₹32.54 (bear) to ₹54.24 (bull), base ₹43.39. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 66/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹67.24 ₹11.16 Fair Value ₹43.39 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹11.16 – ₹67.24 · fair‑value band ₹32.54 – ₹54.24 · the ₹36.39 price screens below the ₹43.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

CIL SECURITIES LTD. (CILSEC) currently trades at ₹36.39, while our model-based Fair Value estimate is ₹43.39, implying the stock looks roughly 19.2% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, CIL SECURITIES LTD. generated revenue of ₹83.3M at a net margin of 20.0%. Revenue declined 14.9% year over year. It earns a return on equity of 5.2%. The stock trades on a trailing P/E of 10.9. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹32.54 (bear case) to ₹54.24 (bull case); at ₹36.39, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -19% fair-value upside, at 19%, CILSEC screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF ₹43.97 ₹50.13 ₹57.55 80
Residual Income ₹45.31 ₹43.59 ₹36.10 76
Rev-Margin DCF ₹41.39 ₹51.31 ₹62.34 74
All 12 models by family
DCF Models
Owner Earnings ₹45.26 ₹52.36 ₹61.36 31
5Y P/E Exit ₹44.88 ₹56.83 ₹69.13 38
10Y P/E Exit ₹44.03 ₹52.75 ₹61.89 35
Earnings-Based
Graham-Dodd ₹22.70 ₹44.90 ₹56.31 54
Dividend Discount
Gordon GGM ₹3.48 ₹4.51 ₹5.40 70
DDM Multi-Stage ₹3.48 ₹4.48 ₹5.43 61
Multiples
P/E Multiple ₹32.54 ₹43.39 ₹54.24 63
P/B Multiple ₹42.55 ₹56.74 ₹70.92 55
Asset-Based
NCAV (Graham) ₹33.05 ₹44.28 ₹66.09 50
Growth DCF
Growth DCF ₹43.97 ₹50.13 ₹57.55 80
Rev-Margin DCF ₹41.39 ₹51.31 ₹62.34 74
Economic Profit
Residual Income ₹45.31 ₹43.59 ₹36.10 76

Widest divergence: DCF Models (₹52.75) versus Dividend Discount (₹4.48). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹83.3M
Revenue growth (YoY) -14.9%
Net margin 20.0%
Return on equity 5.2%
Free cash flow ₹16.9M FY2026
P/E ratio 10.9
More key figures
Operating margin 8.1%
EPS (TTM) ₹3.34
EPS growth (YoY) -74.1%

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 66 · Market factors (momentum, volatility) 33

Profitability 35
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 74
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

CIL Securities Limited provides diversified financial services in India. The company offers online and offline securities trading services; equity research cell; merchant banking services; registrar and share transfer agents services; and depository participant services. It also provides broking services to retail, high net worth, and institutional clients.

Full company description

CIL Securities Limited provides diversified financial services in India. The company offers online and offline securities trading services; equity research cell; merchant banking services; registrar and share transfer agents services; and depository participant services. It also provides broking services to retail, high net worth, and institutional clients. CIL Securities Limited was incorporated in 1989 and is based in Hyderabad, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

CIL SECURITIES LTD. reported revenue of ₹83.6M in FY2026 versus ₹82.8M in FY2022, a compound +0.2%/yr. Reported net income was ₹16.7M in FY2026, compounding −7.4%/yr from FY2022.

Growth Quality 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹83.6M
Latest YoY
−14.9%
Avg. growth/yr (3Y) 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.
−4.9%
Avg. growth/yr (5Y) 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.
+8.0%
Avg. growth/yr (7Y) 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.
+10.1%
Revenue +0.2%/yr
FY22 ₹82.8M
FY23 ₹97.2M
FY24 ₹105M
FY25 ₹98.3M
FY26 ₹83.6M
Net income −7.4%/yr
FY22 ₹22.7M
FY23 ₹26.0M
FY24 ₹28.8M
FY25 ₹20.6M
FY26 ₹16.7M

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Cite: Fair Value Calculator (2026). "CIL SECURITIES LTD. Fair Value". https://www.fairvalue-calculator.com/stock/CILSEC

Peer Group

Capital Markets · 435 stocks

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.

Quality Score 66 · Top 25%
Fair Value upside +19% · Above median
Return on equity (TTM) 5% · Below median
Return on assets 3% · Above median
Net margin (TTM) 20% · Above median
Operating margin (TTM) 8% · Below median
Revenue growth -15% · Bottom 25%
Dividend yield (TTM) 1.4% · Below median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 10.9× · Cheaper than median
P/B 0.54× · Cheaper than 75% of peers
P/S (TTM) 2.16× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 2.8× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE59 · sector 16
FUTURE0 · sector 92
PAST21 · sector 30
HEALTH100 · sector 93
DIVIDEND28 · sector 38

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Mirae Asset Securities Co 006800 38,050 KRW 18,009 KRW -53%
Meritz Financial Group 138040 118,600 KRW 52,717 KRW -56%
Korea Investment Holdings 071050 200,500 KRW 189,335 KRW -6%
NH Investment & Securities Co 005940 28,550 KRW 22,396 KRW -22%
Samsung Securities Co 016360 93,100 KRW 75,573 KRW -19%
Kiwoom Securities Co 039490 299,000 KRW 214,812 KRW -28%
SSI Securities Corporation SSI 19,400 VND 17,375 VND -10%
Bolsas y Mercados Argentinos S.A BYMA 313.75 ARS 294.30 ARS -6%
Daishin Securities Co 003540 26,950 KRW 48,790 KRW +81%
SK Securities Co 001515 4,285 KRW 1,395 KRW -67%

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Frequently asked questions

Is CIL SECURITIES LTD. (CILSEC) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹43.39 versus a price of ₹36.39, about +19% (undervalued).
What is the fair value of CILSEC?
Our model-based fair value for CIL SECURITIES LTD. is ₹43.39 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹36.39.
What is the quality score of CILSEC?
CIL SECURITIES LTD. has a Quality Score of 66/100. 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 revenue of CIL SECURITIES LTD. (CILSEC)?
CIL SECURITIES LTD. reported trailing-twelve-month revenue of about ₹83.3M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of CILSEC?
The net profit margin of CIL SECURITIES LTD. is about 20.0%, meaning it keeps roughly 20.0% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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