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MASTER TRUST LTD. (MASTERTR) Fair Value & Analysis

Financial Services · IN · Market cap ₹10.5B

MT MASTER TRUST LTD. MASTERTR · BSE
Price₹84.28
Fair Value₹205.00
Upside+143.2%
Quality51/100

Strengths

Trades 59% below our fair value of ₹205.00
Highly profitable · 25.0% net margin
Low debt · generates free cash flow
Wide moat 80/100

Risks

!Mixed Growth (revenue 5y +23.9 %/yr)
!Mixed vs. peers (8/14)
!Weak on dividend: 2 out of 100
Mixed Growth (revenue 5y +23.9 %/yr)
Highly profitable · 25.0% net margin
Low debt · generates free cash flow
Mixed vs. peers (8/14)
Wide moat 80/100
Evidence: High Range ₹153.75 – ₹256.25 Share as image

Fair value as of: Aug 25, 2026

From 13 valuation models · updated today

Share price −0.3% over the past month.

A solid business, trading 59% below our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price is below even our cautious bear case (₹153.75). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) 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.
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Price vs Fair Value (5 years)

₹196.90 ₹7.63 Fair Value ₹205.00 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 25, 2026.

How to read this chart

60‑month range ₹7.63 – ₹196.90 · fair‑value band ₹153.75 – ₹256.25 · the ₹84.28 price screens below the ₹205.00 fair value. Dashed = 300-day average. As of Aug 25, 2026.

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Analysis

MASTER TRUST LTD. (MASTERTR) currently trades at ₹84.28, while our model-based Fair Value estimate is ₹205.00, implying the stock looks roughly 143.2% undervalued today. The Quality Score stands at 51/100 (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, MASTER TRUST LTD. generated revenue of ₹5.2B at a net margin of 24.4%. Revenue grew 47.9% year over year. It earns a return on equity of 17.3%. Net debt stands at ₹1.4B. Fundamentals as of Aug 25, 2026

Our scenario range runs from ₹153.75 (bear case) to ₹256.25 (bull case); at ₹84.28, the current price sits below 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 51% below its 52-week high and 51% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -36% fair-value upside, at 143%, MASTERTR 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 ₹384.61 ₹725.22 ₹1,414 80
Residual Income ₹68.39 ₹95.55 ₹363.47 76
Rev-Margin DCF ₹164.87 ₹267.44 ₹455.43 74
All 13 models by family
DCF Models
Owner Earnings ₹150.61 ₹357.28 ₹791.13 31
5Y P/E Exit ₹179.33 ₹340.13 ₹546.48 38
10Y P/E Exit ₹249.50 ₹455.32 ₹764.00 35
Earnings-Based
Graham-Dodd ₹69.70 ₹486.07 ₹682.13 54
Lynch FV ₹212.66 ₹303.81 ₹394.95 50
Dividend Discount
Gordon GGM ₹0.8100 ₹1.69 ₹2.68 70
DDM Multi-Stage ₹0.8100 ₹1.42 ₹1.77 61
Multiples
P/E Multiple ₹99.94 ₹133.25 ₹166.56 63
P/B Multiple ₹69.73 ₹92.97 ₹116.21 55
Asset-Based
NCAV (Graham) ₹33.20 ₹44.49 ₹66.41 50
Growth DCF
Growth DCF ₹384.61 ₹725.22 ₹1,414 80
Rev-Margin DCF ₹164.87 ₹267.44 ₹455.43 74
Economic Profit
Residual Income ₹68.39 ₹95.55 ₹363.47 76

Widest divergence: DCF Models (₹357.28) versus Dividend Discount (₹1.42). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/E ratio 7.7
P/S ratio 2.03 TTM
Net margin 24.4% TTM
Return on equity 17.3% TTM
Return on assets 6.0% TTM
Operating margin 29.3% TTM
More key figures
Profitability
EPS (TTM) ₹11.00
Growth
Revenue (TTM) ₹5.2B TTM
Revenue growth (YoY) +47.9% 3y avg +25.9%
EPS growth (YoY) +42.8%
Balance sheet & cash flow
Free cash flow ₹3.1B FY2026
Net debt ₹1.4B FY2026 · ≈ 0.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 50 · Market factors (momentum, volatility) 22

Profitability 47
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 26
Calm price path (market factor)
Momentum 25
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 20
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

MASTER TRUST LTD. reported revenue of ₹5.8B in FY2026 versus ₹2.9B in FY2022, a compound +18.4%/yr. Reported net income was ₹1.3B in FY2026, compounding +23.0%/yr from FY2022.

Growth Quality 94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹5.8B
Latest YoY
−1.4%
Avg. revenue 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.
+25.9%
Avg. revenue 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.
+23.9%
Avg. revenue 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.
+23.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+15.1% (15.1 + 0.0)
Revenue +18.4%/yr
FY22 ₹2.9B
FY23 ₹2.9B
FY24 ₹4.1B
FY25 ₹5.8B
FY26 ₹5.8B
Net income +23.0%/yr
FY22 ₹552M
FY23 ₹659M
FY24 ₹1.1B
FY25 ₹1.3B
FY26 ₹1.3B

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Cite: Fair Value Calculator (2026). "MASTER TRUST LTD. Fair Value". https://www.fairvalue-calculator.com/stock/MASTERTR

Peer Group

Capital Markets · 446 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 50 · Below median
Fair Value upside +143% · Top 25%
Return on equity (TTM) 17% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 25% · Above median
Operating margin (TTM) 34% · Above median
Revenue growth 16% · Below median
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.28× · Higher than median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 7.7× · Cheaper than 75% of peers
P/B 1.28× · Pricier than median
P/S (TTM) 1.96× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 9.9× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 13
FUTURE79 · sector 88
PAST69 · sector 30
HEALTH86 · sector 93
DIVIDEND2 · 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

Similar stocks

10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 25, 2026).

Stock Price Fair Value vs Fair Value
Morgan Stanley, a financial holding company, MS $214.23 $138.97 -35%
The Goldman Sachs Group GS $1,037 $756.89 -27%
The Charles Schwab Corporation SCHW $109.34 $66.17 -39%
Robinhood Markets, Inc HOOD $94.91 $30.94 -67%
Macquarie Group MQG A$260.08 A$75.58 -71%
CITIC Securities Company 600030 ¥27.70 ¥17.68 -36%
Guotai Haitong Securities Co 601211 ¥18.02 ¥18.62 +3%
East Money Information Co 300059 ¥19.83 ¥4.77 -76%
CSC Financial Co 601066 ¥25.70 ¥14.17 -45%
Huatai Securities Co 601688 ¥19.39 ¥19.26 -1%

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Frequently asked questions

Is MASTER TRUST LTD. (MASTERTR) overvalued or undervalued?
As of Aug 25, 2026, our model estimates a fair value of ₹205.00 versus a price of ₹84.28, about +143% (undervalued).
What is the fair value of MASTERTR?
Our model-based fair value for MASTER TRUST LTD. is ₹205.00 (as of Aug 25, 2026), built from audited fundamentals. The current price: ₹84.28.
What is the quality score of MASTERTR?
MASTER TRUST LTD. has a Quality Score of 51/100. 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 MASTER TRUST LTD. (MASTERTR)?
MASTER TRUST LTD. reported trailing-twelve-month revenue of about ₹5.2B (latest available figure, as of Aug 25, 2026).
What is the net profit margin of MASTERTR?
The net profit margin of MASTER TRUST LTD. is about 24.4%, meaning it keeps roughly 24.4% 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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