SHARDUL SECURITIES LTD. (SHARDUL) fair value: what the stock is really worth
As of Oct 5, 2026: fair value of SHARDUL SECURITIES LTD. ₹63.91, price ₹58.40, upside +9.4%, quality 28 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range ₹9.40 – ₹111.37 · fair‑value band ₹47.93 – ₹79.89 · the ₹58.40 price screens below the ₹63.91 fair value. Dashed = 300-day average. As of Oct 4, 2026.
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Shardul Securities Limited, a non-banking financial company, engages in the investment and financing activities in India. The company invests in equity; and trades in bonds, mutual funds, government securities and treasury bills, commercial papers, and certificates of deposit, as well as derivatives, including options and futures.
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Shardul Securities Limited, a non-banking financial company, engages in the investment and financing activities in India. The company invests in equity; and trades in bonds, mutual funds, government securities and treasury bills, commercial papers, and certificates of deposit, as well as derivatives, including options and futures. It also offers IPO funding, forex advisory, and loan syndications services, as well as brokerage services. The company was formerly known as Shriyam Securities & Finance Limited. The company was incorporated in 1985 and is based in Mumbai, India.
Stock analysis
SHARDUL SECURITIES LTD. (SHARDUL) currently trades at ₹58.40, while our model-based Fair Value estimate is ₹63.91, so the stock looks roughly fairly valued today (gap 8.6%).
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: ₹47.93 (bear) to ₹79.89 (bull), the price of ₹58.40 sits inside 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 28/100 (below-average quality), in the Financial Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
SHARDUL SECURITIES LTD. reported revenue of ₹141M in FY2025 versus ₹121M in FY2021, a compound +4.0%/yr. Reported net income was −₹491M in FY2025.
Key figures
Market cap ₹5.1B (≈ $53.1M) · P/E ratio 22.0 · P/S ratio 5.61 · EPS (TTM) ₹2.65 · Net margin 25.9% · Return on equity −7.2% · Return on assets (EBIT) 5.3% · Operating margin 97.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and 171% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at 9%, SHARDUL screens cheaper than that median.
Fair Value models
Bear ₹47.93Fair Value ₹63.91Bull ₹79.89
Price ₹58.40 · Upside +9.4%
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (₹2.02 per share) are deliberately not added.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.13/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−77.4%
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.
+28.8%
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.
−7.7%
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.
+11.6%
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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.
86.0% (2020) → −358.0% (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
Compare SHARDUL SECURITIES 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 industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Capital Markets · 460 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside+9.4% · Above median
Profitability
Return on assets−5.9% · Bottom 25%
Net margin (TTM)25.9% · Above median
Operating margin (TTM)97.6% · Top 25%
Growth and dividend
Revenue growth95.6% · Top 25%
Balance sheet
Debt / equity0.42× · Above median
Valuation Multiplesvs Capital Markets median · lower = cheaper
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Is SHARDUL SECURITIES LTD. (SHARDUL) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of ₹63.91 versus a price of ₹58.40, about +9% upside (fairly valued).
What is the fair value of SHARDUL?
Our model-based fair value for SHARDUL SECURITIES LTD. is ₹63.91 (as of Oct 4, 2026), built from audited fundamentals. The current price: ₹58.40.
What is the quality score of SHARDUL?
SHARDUL SECURITIES LTD. has a Quality Score of 28/100. 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 SHARDUL SECURITIES LTD. (SHARDUL)?
Our model-based price target is the fair value of ₹63.91 (as of Oct 4, 2026) from 2 valuation models. Cautious scenario ₹47.93, optimistic scenario ₹79.89. It is a calculation from audited fundamentals, not an analyst target.
What is the SHARDUL SECURITIES LTD. stock forecast for 2026?
Our models put fair value at ₹63.91, about +9% upside versus a price of ₹58.40 (fairly valued). Cautious scenario ₹47.93, optimistic scenario ₹79.89. The calculation is refreshed regularly with new filings.
What is the intrinsic value of SHARDUL SECURITIES LTD. (SHARDUL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SHARDUL SECURITIES LTD. it is ₹63.91 per share (as of Oct 4, 2026), against a price of ₹58.40. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is SHARDUL SECURITIES LTD. stock overvalued or undervalued in 2026?
As of Oct 4, 2026, SHARDUL trades below its calculated fair value: price ₹58.40, fair value ₹63.91, a gap of about +9% (fairly valued). 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 SHARDUL?
No. The price is what the market pays today (₹58.40); the fair value is what the company's own numbers justify (₹63.91). For SHARDUL SECURITIES LTD. the two are ₹5.51 per share apart. That gap is exactly why we show both numbers side by side.
How much is SHARDUL SECURITIES LTD. worth?
The market values SHARDUL SECURITIES LTD. at about ₹5.1B (market capitalisation, as of Oct 4, 2026). Per share that is ₹58.40; our models calculate a fair value of ₹63.91 per share.
What do the bullish and bearish scenarios say about SHARDUL?
Our models span a range for SHARDUL SECURITIES LTD.: cautious scenario ₹47.93, base ₹63.91, optimistic ₹79.89 per share (as of Oct 4, 2026, price ₹58.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SHARDUL?
SHARDUL SECURITIES LTD. trades at a price-to-earnings ratio of 22.0 (as of Oct 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹63.91 is built from several models across several years. Other multiples: P/B 0.8, P/S 5.7.
How solid is the balance sheet of SHARDUL SECURITIES LTD. (SHARDUL)?
Balance-sheet figures for SHARDUL SECURITIES LTD. (as of Oct 4, 2026): return on equity −7.2%, debt of 0.42 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is SHARDUL from its 52-week high?
SHARDUL SECURITIES LTD. trades at ₹58.40, at its 52-week high of ₹58.40 and 171% above the low of ₹21.56 (as of Oct 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹63.91 is for.
Which stocks are comparable to SHARDUL SECURITIES LTD.?
From the same area (Financial Services) we also value Morgan Stanley, a financial holding company,, The Goldman Sachs Group, The Charles Schwab Corporation, Interactive Brokers Group, 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 SHARDUL SECURITIES LTD. stock attractive at the current price?
The data as of Oct 4, 2026: price ₹58.40, calculated fair value ₹63.91 (+9%), Quality Score 28/100, 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 SHARDUL calculated?
We run SHARDUL SECURITIES LTD. 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 ₹63.91, 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 15.0 % above its aggregate fair value. SHARDUL SECURITIES LTD. currently trades 9 % below its own fair value, and the market average says nothing about that. 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 SHARDUL SECURITIES LTD. (SHARDUL)?
The closing price on Oct 5, 2026 was ₹58.40. Our model-based fair value is ₹63.91, about +9% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SHARDUL SECURITIES LTD. right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. 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 SHARDUL SECURITIES LTD.
How large is the market capitalisation of SHARDUL SECURITIES LTD. (SHARDUL)?
The market capitalisation of SHARDUL SECURITIES LTD. is ₹5.1B (≈ $53.1M). 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 SHARDUL SECURITIES LTD. (SHARDUL)?
The price-to-sales ratio of SHARDUL SECURITIES LTD. is 5.61 (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 SHARDUL SECURITIES LTD. (SHARDUL)?
Earnings per share at SHARDUL SECURITIES LTD. are ₹2.65 (price ÷ EPS = P/E 22.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of SHARDUL SECURITIES LTD. (SHARDUL)?
The net margin of SHARDUL SECURITIES LTD. is 25.9% (last twelve months). 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 SHARDUL SECURITIES LTD. (SHARDUL)?
The return on equity (ROE) of SHARDUL SECURITIES LTD. is −7.2% (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 SHARDUL SECURITIES LTD. (SHARDUL)?
On an EBIT basis the return on assets of SHARDUL SECURITIES LTD. is 5.3% (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 SHARDUL SECURITIES LTD. (SHARDUL)?
The operating margin of SHARDUL SECURITIES LTD. is 97.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SHARDUL SECURITIES LTD. (SHARDUL)?
Revenue at SHARDUL SECURITIES LTD. is growing +95.6% versus a year earlier (3y avg +28.8%). 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 SHARDUL SECURITIES LTD. (SHARDUL)?
Earnings per share at SHARDUL SECURITIES LTD. are growing +103% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does SHARDUL SECURITIES LTD. (SHARDUL) generate?
The free cash flow of SHARDUL SECURITIES LTD. is −₹257M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does SHARDUL SECURITIES LTD. (SHARDUL) carry?
The net debt of SHARDUL SECURITIES LTD. is ₹2.7B (fiscal year 2025). 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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