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SKP SECURITIES LTD. (SKPSEC) Fair Value & Analysis

Financial Services · IN · Market cap ₹791M

SS SKP SECURITIES LTD. SKPSEC · BSE
Price₹100.00
Fair Value₹98.23
Upside-1.8%
Quality51/100
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Strengths

Highly profitable · 26.1% net margin
Ranks above peers (9/13)
Wide moat 77/100

Risks

!Expensive Growth
!Low debt · negative free cash flow
!The models disagree: range ₹80.42 to ₹212.71
Expensive Growth
Highly profitable · 26.1% net margin
Low debt · negative free cash flow
1.73% dividend yield
Ranks above peers (9/13)
Wide moat 77/100
Evidence: High Range ₹80.42 – ₹212.71 Share as image

Fair value as of: Aug 13, 2026

From 9 valuation models · updated 7 days ago

Fair value updated Aug 13, 2026, revised from ₹232.20 to ₹98.23 (−57.7%) since Jul 6, 2026.

A solid business, currently priced close to our fair value.

What matters now

  • The model range is unusually wide (₹80.42 to ₹212.71). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • 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)

₹304.49 ₹19.21 Fair Value ₹98.23 Jan 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 ₹19.21 – ₹304.49 · fair‑value band ₹80.42 – ₹212.71 · the ₹100.00 price screens above the ₹98.23 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

SKP SECURITIES LTD. (SKPSEC) currently trades at ₹100.00, while our model-based Fair Value estimate is ₹98.23, implying the stock looks roughly 1.8% fairly valued today. The Quality Score stands at 51/100 (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, SKP SECURITIES LTD. generated revenue of ₹396M at a net margin of 26.1%. Revenue grew 51.3% year over year. It earns a return on equity of 18.6%. Net debt stands at ₹195M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹80.42 (bear case) to ₹212.71 (bull case); at ₹100.00, 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 29% below its 52-week high and 35% 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 -2%, SKPSEC 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
Residual Income ₹87.88 ₹118.40 ₹357.16 76
Gordon GGM ₹15.54 ₹28.00 ₹38.54 70
P/E Multiple ₹148.17 ₹197.56 ₹246.96 63
All 9 models by family
DCF Models
Owner Earnings ₹148.12 ₹337.67 ₹689.38 31
Earnings-Based
Graham-Dodd ₹103.34 ₹720.69 ₹1,011 54
Lynch FV ₹268.40 ₹383.43 ₹498.45 50
Dividend Discount
Gordon GGM ₹15.54 ₹28.00 ₹38.54 70
DDM Multi-Stage ₹15.54 ₹25.58 ₹29.91 61
Multiples
P/E Multiple ₹148.17 ₹197.56 ₹246.96 63
P/B Multiple ₹93.14 ₹124.19 ₹155.24 55
Asset-Based
NCAV (Graham) ₹44.35 ₹59.44 ₹88.71 50
Economic Profit
Residual Income ₹87.88 ₹118.40 ₹357.16 76

Widest divergence: Earnings-Based (₹383.43) versus Dividend Discount (₹25.58). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹396M
Revenue growth (YoY) +51.3%
Net margin 26.1%
Return on equity 18.6%
Free cash flow −₹88.8M FY2026
P/E ratio 6.6
More key figures
Operating margin 38.4%
EPS (TTM) ₹15.20
Dividend yield 1.7%
EPS growth (YoY) +64.3%
Net debt ₹195M FY2026

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 45 · Market factors (momentum, volatility) 35

Profitability 57
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 32
Disciplined investing over empire-building
Low Volatility 55
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 22
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

SKP Securities Limited, together with its subsidiaries, engages in the stock brokerage and distribution of financial products in India. The company offers private wealth, investment banking, institutional equity, depository participant, merchant banking, and wealth and corporate advisory services, as well as distributes mutual funds.

Full company description

SKP Securities Limited, together with its subsidiaries, engages in the stock brokerage and distribution of financial products in India. The company offers private wealth, investment banking, institutional equity, depository participant, merchant banking, and wealth and corporate advisory services, as well as distributes mutual funds. It serves banks, insurance companies, asset management companies, corporates, family businesses, charitable/educational/health institutions, non-profit organizations, individuals, financial institutions, professionals, and retail investors. The company was incorporated in 1990 and is headquartered in Kolkata, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

SKP SECURITIES LTD. reported revenue of ₹410M in FY2026 versus ₹166M in FY2022, a compound +25.5%/yr. Reported net income was ₹103M in FY2026, compounding +17.5%/yr from FY2022.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹410M
Latest YoY
+13.7%
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.
+25.1%
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.
+29.8%
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.
+23.0%
Revenue +25.5%/yr
FY22 ₹166M
FY23 ₹209M
FY24 ₹260M
FY25 ₹361M
FY26 ₹410M
Net income +17.5%/yr
FY22 ₹54.2M
FY23 ₹31.0M
FY24 ₹86.5M
FY25 ₹99.9M
FY26 ₹103M

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

Peer Group

Capital Markets · 434 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 49 · Below median
Fair Value upside −2% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 26% · Above median
Operating margin (TTM) 38% · Above median
Revenue growth 51% · Above median
Dividend yield (TTM) 2.0% · Above median
Debt / equity 0.32× · Higher than median

Valuation Multiples vs Capital Markets median · lower = cheaper

P/E (TTM) 6.6× · Cheaper than 75% of peers
P/B 1.31× · Pricier than median
P/S (TTM) 2.00× · Cheaper than median
EV/EBITDA 17.3× · Pricier 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
VALUE31 · sector 15
FUTURE100 · sector 91
PAST75 · sector 30
HEALTH84 · sector 93
DIVIDEND40 · 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 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 SKP SECURITIES LTD. (SKPSEC) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹98.23 versus a price of ₹100.00, about −2% (fairly valued).
What is the fair value of SKPSEC?
Our model-based fair value for SKP SECURITIES LTD. is ₹98.23 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹100.00.
What is the quality score of SKPSEC?
SKP SECURITIES 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 SKP SECURITIES LTD. (SKPSEC)?
SKP SECURITIES LTD. reported trailing-twelve-month revenue of about ₹396M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SKPSEC?
The net profit margin of SKP SECURITIES LTD. is about 26.1%, meaning it keeps roughly 26.1% of revenue as net income. Based on the latest reported figures.
Does SKP SECURITIES LTD. pay a dividend?
SKP SECURITIES LTD. currently shows a dividend yield of about 1.73% relative to its recent price (as of Aug 13, 2026).

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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