SMIFS CAPITAL MARKETS LTD. (SMIFS) Fair Value & Analysis
Financial Services · IN · Market cap ₹480M
Risks
Fair value as of: Aug 22, 2026
From 6 valuation models · updated today
Below-average quality, and screening another 77% overvalued on our models.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹32.25). The favourable scenario is already priced in.
- Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.
How to read this chart
60‑month range ₹26.00 – ₹160.05 · fair‑value band ₹19.35 – ₹32.25 · the ₹110.90 price screens above the ₹25.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.
Analysis
SMIFS CAPITAL MARKETS LTD. (SMIFS) currently trades at ₹110.90, while our model-based Fair Value estimate is ₹25.80, implying the stock looks roughly 76.7% overvalued today. The Quality Score stands at 33/100 (below-average 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: medium).
Over the trailing twelve months, SMIFS CAPITAL MARKETS LTD. generated revenue of ₹444M at a net margin of 2.6%. Revenue grew 113.6% year over year. It earns a return on equity of 0.8%. The stock trades on a trailing P/E of 56.3. Fundamentals as of Aug 22, 2026
Our scenario range runs from ₹19.35 (bear case) to ₹32.25 (bull case); at ₹110.90, 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 34% below its 52-week high and 62% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -19% fair-value upside, at -77%, SMIFS 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.
All 6 models by family
Widest divergence: Asset-Based (₹175.38) versus Earnings-Based (₹25.27). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 33 · Market factors (momentum, volatility) 44
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
SMIFS Capital Markets Limited engages in the merchant banking, and trading in government securities and shares in India. It operates through Capital Market Operations, Investment Banking Operations, and Real Estate Business segments.
Full company description
SMIFS Capital Markets Limited engages in the merchant banking, and trading in government securities and shares in India. It operates through Capital Market Operations, Investment Banking Operations, and Real Estate Business segments. The company offers merchant banking/investment banking services in the areas of public issue/rights issue/preferential allotment, private placement, and underwriting; and operates as a dealer for debt/bonds and G-Sec products. It also provides advisory services to corporates in identifying suitable buyers/sellers of companies/businesses in case of mergers, acquisitions, and takeovers; assists corporate bodies through syndication of loans from various bodies, such as corporates/banks and financial institutions; offers project finance and construction finance; and markets IPOs and mutual funds. In addition, the company is involved in the placement of shares with private equity funds, foreign institutional investors, Indian financial institutions, and high net worth individuals. Further, it engages in the real estate business. SMIFS Capital Markets Limited was incorporated in 1983 and is based in Kolkata, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2020 – FY2024 · reported fiscal years
SMIFS CAPITAL MARKETS LTD. reported revenue of ₹394M in FY2024 versus ₹687M in FY2020, a compound −13.0%/yr. Reported net income was ₹11.7M in FY2024, compounding +42.8%/yr from FY2020.
SMIFS screens 77% overvalued. Compare with Mirae Asset Securities Co →
Peer Group
Capital Markets · 439 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.
Valuation Multiples vs Capital Markets median · lower = cheaper
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: 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.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 22, 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
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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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