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Hybrid Financial Services Limited (HYBRIDFIN) Fair Value & Analysis

Financial Services · IN · Market cap ₹588M

HF Hybrid Financial Services Limited HYBRIDFIN · NSE
Price₹17.41
Fair Value₹11.92
Upside-31.5%
Quality70/100
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Healthy Growth
Highly profitable · 46.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Wide moat 70/100
Evidence: High Range ₹8.94 – ₹14.91 Share as image

Fair value as of: Aug 13, 2026

From 13 valuation models · updated 4 days ago

Fair value updated Aug 13, 2026, revised from ₹15.59 to ₹11.92 (−23.5%) since Aug 6, 2026. Share price −3.4% over the past month.

A solid business, but screening 32% overvalued on our models.

What matters now

  • A high-quality business (quality 70/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (₹14.91). The favourable scenario is already priced in.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (4 years)

₹33.62 ₹1.05 Fair Value ₹11.92 Dec 2022 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

44‑month range ₹1.05 – ₹33.62 · fair‑value band ₹8.94 – ₹14.91 · the ₹17.41 price screens above the ₹11.92 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Hybrid Financial Services Limited (HYBRIDFIN) currently trades at ₹17.41, while our model-based Fair Value estimate is ₹11.92, implying the stock looks roughly 31.5% overvalued today. The Quality Score stands at 70/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Hybrid Financial Services Limited generated revenue of ₹57.7M at a net margin of 46.8%. It earns a return on equity of 6.5%. The balance sheet holds a net cash position of ₹205M. The stock trades on a trailing P/E of 18.9. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹8.94 (bear case) to ₹14.91 (bull case); at ₹17.41, the current price sits above 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 48% below its 52-week high and 33% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -22% fair-value upside, at -32%, HYBRIDFIN screens richer 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 ₹14.11 ₹18.99 ₹26.36 80
Residual Income ₹11.05 ₹11.01 ₹10.26 76
Rev-Margin DCF ₹11.34 ₹13.95 ₹17.48 74
All 13 models by family
DCF Models
Owner Earnings ₹17.52 ₹25.85 ₹39.45 31
5Y P/E Exit ₹14.91 ₹21.65 ₹29.64 38
10Y P/E Exit ₹14.58 ₹20.39 ₹29.10 35
Earnings-Based
Graham-Dodd ₹6.24 ₹33.70 ₹46.72 54
Lynch FV ₹9.34 ₹13.34 ₹17.34 50
Dividend Discount
Gordon GGM ₹0.0400 ₹0.0700 ₹0.0900 70
DDM Multi-Stage ₹0.0400 ₹0.0600 ₹0.0700 61
Multiples
P/E Multiple ₹8.94 ₹11.92 ₹14.91 63
P/B Multiple ₹11.70 ₹15.59 ₹19.49 55
Asset-Based
NCAV (Graham) ₹7.50 ₹10.05 ₹15.00 50
Growth DCF
Growth DCF ₹14.11 ₹18.99 ₹26.36 80
Rev-Margin DCF ₹11.34 ₹13.95 ₹17.48 74
Economic Profit
Residual Income ₹11.05 ₹11.01 ₹10.26 76

Widest divergence: DCF Models (₹21.65) versus Dividend Discount (₹0.0600). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹57.7M
Revenue growth (YoY) +449%
Net margin 46.8%
Return on equity 6.5%
Free cash flow ₹19.2M FY2026
P/E ratio 18.9
More key figures
Operating margin 56.2%
EPS (TTM) ₹0.9200
EPS growth (YoY) -57.9%
Net cash ₹205M FY2026

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

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 43

Profitability 39
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 85
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

Hybrid Financial Services Limited, together with its subsidiaries, provides management consultancy services in India. The company offers debt recovery advice; and consultancy services in financial, secretarial, commercial, legal, direct and indirect taxation, other levies, statistical, accountancy, and other fields.

Full company description

Hybrid Financial Services Limited, together with its subsidiaries, provides management consultancy services in India. The company offers debt recovery advice; and consultancy services in financial, secretarial, commercial, legal, direct and indirect taxation, other levies, statistical, accountancy, and other fields. It also engages in investment; share and stock broking; and depository participant and marketing of financial products. The company was formerly known as Mafatlal Finance Company Limited and changed its name to Hybrid Financial Services Limited in 2008. Hybrid Financial Services Limited was incorporated in 1986 and is headquartered in Mumbai, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Hybrid Financial Services Limited reported revenue of ₹57.8M in FY2026 versus ₹34.1M in FY2022, a compound +14.1%/yr. Reported net income was ₹27.0M in FY2026, compounding +13.4%/yr from FY2022.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹57.8M
Latest YoY
+41.1%
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.
+18.9%
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.
+19.7%
Avg. growth/yr (13Y) 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.
+5.3%
Revenue +14.1%/yr
FY22 ₹34.1M
FY23 ₹34.4M
FY24 ₹34.4M
FY25 ₹41.0M
FY26 ₹57.8M
Net income +13.4%/yr
FY22 ₹16.3M
FY23 ₹5.1M
FY24 ₹19.4M
FY25 ₹38.4M
FY26 ₹27.0M

HYBRIDFIN screens 32% overvalued. Compare with Mirae Asset Securities Co →

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Cite: Fair Value Calculator (2026). "Hybrid Financial Services Limited Fair Value". https://www.fairvalue-calculator.com/stock/HYBRIDFIN

Peer Group

Capital Markets · 425 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 70 · Top 25%
Fair Value upside −32% · Below median
Return on equity (TTM) 6% · Below median
Return on assets 5% · Top 25%
Net margin (TTM) 47% · Top 25%
Operating margin (TTM) 56% · Top 25%
Revenue growth 449% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 18.9× · Pricier than median
P/B 1.33× · Pricier than median
P/S (TTM) 10.19× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than median
EV/EBITDA 13.5× · Pricier than median

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.

VALUE 0 · sector 15
FUTURE 100 · sector 96
PAST 26 · sector 31
HEALTH 99 · sector 93
DIVIDEND 0 · sector 42

VALUE 0: the price sits above our fair-value range.

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 25,300 VND 17,375 VND -31%
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 Hybrid Financial Services Limited (HYBRIDFIN) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹11.92 versus a price of ₹17.41, about −32% (overvalued).
What is the fair value of HYBRIDFIN?
Our model-based fair value for Hybrid Financial Services Limited is ₹11.92 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹17.41.
What is the quality score of HYBRIDFIN?
Hybrid Financial Services Limited has a Quality Score of 70/100. 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 Hybrid Financial Services Limited (HYBRIDFIN)?
Hybrid Financial Services Limited reported trailing-twelve-month revenue of about ₹57.7M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of HYBRIDFIN?
The net profit margin of Hybrid Financial Services Limited is about 46.8%, meaning it keeps roughly 46.8% 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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