NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of NCL RESEARCH & FINANCIAL SERVICES LTD. ₹0.09, price ₹0.72, upside -87.5%, quality 62 out of 100. 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, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹0.1359 – ₹2.68 · fair‑value band ₹0.0700 – ₹0.1200 · the ₹0.7200 price screens above the ₹0.0900 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE) currently trades at ₹0.7200, while our model-based Fair Value estimate is ₹0.0900, 87.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹0.6900 per share, and 0 of the 3 models we run sit above the ₹0.7200 price.
Bear case: the Growth DCF group reads lowest at ₹0.1200, and 3 of the 3 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹0.0700 (bear) to ₹0.1200 (bull), the price of ₹0.7200 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 62/100 (solid quality), in the Financials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
NCL RESEARCH & FINANCIAL SERVICES LTD. reported revenue of ₹61.5M in FY2025 versus ₹18.8M in FY2021, a compound +34.5%/yr. Reported net income was −₹26.0M in FY2025.
Key figures
Market cap ₹771M (≈ $8.0M) · P/S ratio 13.9 · EPS (TTM) ₹−0.0300 · Net margin −42.3% · Return on equity −2.3% · Return on assets (EBIT) 0.3% · Operating margin 66.9% · Revenue (TTM) ₹57.7M.
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 15% below its 52-week high and 85% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financials peers we cover trades at −14% fair-value upside, at −88%, NCLRESE screens richer than that median.
Fair Value models
Bear ₹0.0700Fair Value ₹0.0900Bull ₹0.1200
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.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.
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.61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−27.6%
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.
+17.8%
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.
+27.2%
Start year 2020 (pandemic)
Revenue growth 9 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.
−2.0%
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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.
0.2% (2020) → −7.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 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).
+46.5%
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 +40.7% a year for the price.
Compare NCL RESEARCH & FINANCIAL SERVICES LTD. with another stock
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 “Financial Services” was too small, so the broader sector is used.)Financials · 3153 stocks
Beats the sector median on 4/8 measures
A mixed picture versus its sector peers.
Valuation
Quality Score60 · Above median
Fair Value upside−87.5% · Bottom 25%
Profitability
Return on assets−1.0% · Bottom 25%
Net margin (TTM)−54.9% · Bottom 25%
Operating margin (TTM)66.9% · Top 25%
Growth and dividend
Revenue growth−14.4% · Bottom 25%
Valuation Multiplesvs Financials median · lower = cheaper
P/S (TTM)0.14× · Cheapest 25%
P/FCF0.9× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 25
FUTURE (revenue growth)0· sector 46
PAST (return on equity)0· sector 38
HEALTH (low debt)100· sector 87
DIVIDEND (yield)0· sector 59
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). "NCL RESEARCH & FINANCIAL SERVICES LTD. Fair Value". https://www.fairvalue-calculator.com/stock/NCLRESE
Frequently asked questions
Is NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹0.0900 versus a price of ₹0.7200, about −88% upside (overvalued).
What is the fair value of NCLRESE?
Our model-based fair value for NCL RESEARCH & FINANCIAL SERVICES LTD. is ₹0.0900 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹0.7200.
What is the quality score of NCLRESE?
NCL RESEARCH & FINANCIAL SERVICES LTD. has a Quality Score of 62/100. 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 NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
Our model-based price target is the fair value of ₹0.0900 (as of Sep 27, 2026) from 3 valuation models. Cautious scenario ₹0.0700, optimistic scenario ₹0.1200. It is a calculation from audited fundamentals, not an analyst target.
What is the NCL RESEARCH & FINANCIAL SERVICES LTD. stock forecast for 2026?
Our models put fair value at ₹0.0900, about −88% upside versus a price of ₹0.7200 (overvalued). Cautious scenario ₹0.0700, optimistic scenario ₹0.1200. The calculation is refreshed regularly with new filings.
What is the revenue of NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
NCL RESEARCH & FINANCIAL SERVICES LTD. reported trailing-twelve-month revenue of about ₹57.7M (latest available figure, as of Sep 27, 2026).
What growth is priced into NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
For today's price to be fair in a discounted-cash-flow model, NCL RESEARCH & FINANCIAL SERVICES LTD. would have to grow free cash flow by +46.5 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +27.2 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of NCLRESE use?
Our models discount NCL RESEARCH & FINANCIAL SERVICES LTD. at 12.4 %: a base by market capitalisation (nano), 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 NCL RESEARCH & FINANCIAL SERVICES LTD. that is +46.5 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE) delivered so far?
Over the past 5 years revenue at NCL RESEARCH & FINANCIAL SERVICES LTD. grew +27.2 % a year. The price currently implies +46.5 % 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.
What is the free cash flow yield of NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
The free-cash-flow yield on the price is 1.14 %: that much free cash flow NCL RESEARCH & FINANCIAL SERVICES LTD. produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NCL RESEARCH & FINANCIAL SERVICES LTD. it is ₹0.0900 per share (as of Sep 27, 2026), against a price of ₹0.7200. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is NCL RESEARCH & FINANCIAL SERVICES LTD. stock overvalued or undervalued in 2026?
As of Sep 27, 2026, NCLRESE trades above its calculated fair value: price ₹0.7200, fair value ₹0.0900, a gap of about −88% (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 NCLRESE?
No. The price is what the market pays today (₹0.7200); the fair value is what the company's own numbers justify (₹0.0900). For NCL RESEARCH & FINANCIAL SERVICES LTD. the two are ₹0.6300 per share apart. That gap is exactly why we show both numbers side by side.
How much is NCL RESEARCH & FINANCIAL SERVICES LTD. worth?
The market values NCL RESEARCH & FINANCIAL SERVICES LTD. at about ₹771M (market capitalisation, as of Sep 27, 2026). Per share that is ₹0.7200; our models calculate a fair value of ₹0.0900 per share.
What do the bullish and bearish scenarios say about NCLRESE?
Our models span a range for NCL RESEARCH & FINANCIAL SERVICES LTD.: cautious scenario ₹0.0700, base ₹0.0900, optimistic ₹0.1200 per share (as of Sep 27, 2026, price ₹0.7200). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
Balance-sheet figures for NCL RESEARCH & FINANCIAL SERVICES LTD. (as of Sep 27, 2026): return on equity −2.3%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is NCLRESE from its 52-week high?
NCL RESEARCH & FINANCIAL SERVICES LTD. trades at ₹0.7200, about 15% below its 52-week high of ₹0.8500 and 85% above the low of ₹0.3900 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹0.0900 is for.
Which stocks are comparable to NCL RESEARCH & FINANCIAL SERVICES LTD.?
From the same area (Financials) we also value ARYAMAN, CGFL, DHARNI, 539679, 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 NCL RESEARCH & FINANCIAL SERVICES LTD. stock attractive at the current price?
The data as of Sep 27, 2026: price ₹0.7200, calculated fair value ₹0.0900 (−88%), Quality Score 62/100, from 3 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 NCLRESE calculated?
We run NCL RESEARCH & FINANCIAL SERVICES LTD. through 3 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 ₹0.0900, 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. NCL RESEARCH & FINANCIAL SERVICES LTD. 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 NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
The closing price on Oct 1, 2026 was ₹0.7200. Our model-based fair value is ₹0.0900, about −88% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NCL RESEARCH & FINANCIAL SERVICES LTD. right now?
The price sits above even our optimistic bull case (₹0.1200). 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 (62/100) 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 NCL RESEARCH & FINANCIAL SERVICES LTD.
How large is the market capitalisation of NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
The market capitalisation of NCL RESEARCH & FINANCIAL SERVICES LTD. is ₹771M (≈ $8.0M). 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 NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
The price-to-sales ratio of NCL RESEARCH & FINANCIAL SERVICES LTD. is 13.9 (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 NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
Earnings per share at NCL RESEARCH & FINANCIAL SERVICES LTD. are ₹−0.0300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
The net margin of NCL RESEARCH & FINANCIAL SERVICES LTD. is −42.3% (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 NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
The return on equity (ROE) of NCL RESEARCH & FINANCIAL SERVICES LTD. is −2.3% (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 NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
On an EBIT basis the return on assets of NCL RESEARCH & FINANCIAL SERVICES LTD. is 0.3% (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 NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
The operating margin of NCL RESEARCH & FINANCIAL SERVICES LTD. is 66.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
Revenue at NCL RESEARCH & FINANCIAL SERVICES LTD. is growing −14.4% versus a year earlier (3y avg +17.8%). 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 NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE)?
Earnings per share at NCL RESEARCH & FINANCIAL SERVICES LTD. are growing −50.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does NCL RESEARCH & FINANCIAL SERVICES LTD. (NCLRESE) carry?
The net debt of NCL RESEARCH & FINANCIAL SERVICES LTD. is ₹1.4M (fiscal year 2021, ≈ 0.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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