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STEL Holdings (STEL) Fair Value & Analysis

Financial Services · IN · Market cap ₹11.3B

SH STEL Holdings STEL · BSE
Price₹612.45
Fair Value₹741.28
Upside+21.0%
Quality50/100

Strengths

Trades 17% below our fair value of ₹741.28
Highly profitable · 72.2% net margin

Risks

!Mixed Growth (revenue 5y +17.5 %/yr)
!Low debt · negative free cash flow
!Trails peers (4/14)
!Narrow moat 33/100
Mixed Growth (revenue 5y +17.5 %/yr)
Highly profitable · 72.2% net margin
Low debt · negative free cash flow
Trails peers (4/14)
Narrow moat 33/100
Evidence: Medium Range ₹555.96 – ₹926.60 Share as image

Fair value as of: Aug 24, 2026

From 2 valuation models · updated today

Share price +12.3% over the past month.

A solid business, screening 21% undervalued on our models.

What runs behind every stock

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

What matters now

  • Solid quality (50/100) 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)

₹620.90 ₹77.00 Fair Value ₹741.28 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.

How to read this chart

60‑month range ₹77.00 – ₹620.90 · fair‑value band ₹555.96 – ₹926.60 · the ₹612.45 price screens below the ₹741.28 fair value. Dashed = 300-day average. As of Aug 24, 2026.

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Analysis

STEL Holdings (STEL) currently trades at ₹612.45, while our model-based Fair Value estimate is ₹741.28, implying the stock looks roughly 21.0% undervalued today. The Quality Score stands at 50/100 (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: medium), always confirm before acting.

Over the trailing twelve months, STEL Holdings generated revenue of ₹268M at a net margin of 72.2%. Revenue declined 86.2% year over year. It earns a return on equity of 1.2%. The stock trades on a trailing P/E of 58.5. Fundamentals as of Aug 24, 2026

Our scenario range runs from ₹555.96 (bear case) to ₹926.60 (bull case); at ₹612.45, 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 13% below its 52-week high and 79% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -28% fair-value upside, at 21%, STEL 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
P/B Multiple ₹555.96 ₹741.28 ₹926.60 55
NCAV (Graham) ₹436.05 ₹584.30 ₹872.10 50
All 2 models by family
Multiples
P/B Multiple ₹555.96 ₹741.28 ₹926.60 55
Asset-Based
NCAV (Graham) ₹436.05 ₹584.30 ₹872.10 50

Widest divergence: Multiples (₹741.28) versus Asset-Based (₹584.30). Highest evidence: P/B Multiple (55).

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Key figures & financial health

P/E ratio 58.5
P/S ratio 42.1 TTM
Net margin 72.2% TTM
Return on equity 1.2% TTM
Return on assets 0.9% TTM
Operating margin -125% TTM
More key figures
Profitability
EPS (TTM) ₹10.47
Growth
Revenue (TTM) ₹268M TTM
Revenue growth (YoY) -86.2% 3y avg +16.9%
EPS growth (YoY) -94.8%
Balance sheet & cash flow
Free cash flow −₹60.1M FY2026

Figures from reported company fundamentals · as of Aug 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 70

Profitability 30
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 75
Price trend over the last 3–12 months (market factor)
52W Momentum 74
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.

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.

About the company

STEL Holdings Limited engages in the investment in securities of group companies in India. The company was formerly known as Sentinel Tea and Exports Limited and changed its name to STEL Holdings Limited in July 2011. STEL Holdings Limited was incorporated in 1990 and is based in Cochin, India.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

STEL Holdings reported revenue of ₹274M in FY2026 versus ₹201M in FY2022, a compound +8.1%/yr. Reported net income was ₹199M in FY2026, compounding +8.0%/yr from FY2022.

Growth Quality 53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹274M
Latest YoY
+25.2%
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.
+16.9%
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.
+17.5%
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.
+15.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+6.3% (6.3 + 0.0)
Revenue +8.1%/yr
FY22 ₹201M
FY23 ₹172M
FY24 ₹185M
FY25 ₹219M
FY26 ₹274M
Net income +8.0%/yr
FY22 ₹146M
FY23 ₹123M
FY24 ₹133M
FY25 ₹159M
FY26 ₹199M

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Cite: Fair Value Calculator (2026). "STEL Holdings Fair Value". https://www.fairvalue-calculator.com/stock/STEL.BSE

Peer Group

Asset Management · 720 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 +21% · Above median
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 72% · Top 25%
Operating margin (TTM) -125% · Bottom 25%
Revenue growth -86% · Bottom 25%

Valuation Multiples vs Asset Management median · lower = cheaper

P/E (TTM) 58.5× · Pricier than 75% of peers
P/B 0.70× · Cheaper than median
P/S (TTM) 42.14× · Pricier than 75% of peers
EV/EBITDA 43.3× · 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
VALUE0 · sector 40
FUTURE37 · sector 16
PAST26 · sector 24
HEALTH99 · sector 95
DIVIDEND30 · sector 77

Insider activity: 40/100

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 24, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $146.41 $52.88 -64%
Investor AB INVEB kr 417.90 kr 835.80 +100%
Brookfield Corporation BN C$58.60 C$7.74 -87%
KKR & Co KKR $110.90 $19.97 -82%
Apollo Global Management, Inc APO $138.61 $101.04 -27%
State Street Corporation STT $191.74 $138.33 -28%
Ameriprise Financial, Inc AMP $561.63 $515.24 -8%
Ares Management Corporation ARES $143.10 $30.88 -78%
Northern Trust Corporation NTRS $191.33 $122.02 -36%
Raymond James Financial, Inc RJF $181.18 $142.42 -21%

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Frequently asked questions

Is STEL Holdings (STEL) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of ₹741.28 versus a price of ₹612.45, about +21% (undervalued).
What is the fair value of STEL?
Our model-based fair value for STEL Holdings is ₹741.28 (as of Aug 24, 2026), built from audited fundamentals. The current price: ₹612.45.
What is the quality score of STEL?
STEL Holdings has a Quality Score of 50/100. 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 STEL Holdings (STEL)?
STEL Holdings reported trailing-twelve-month revenue of about ₹268M (latest available figure, as of Aug 24, 2026).
What is the net profit margin of STEL?
The net profit margin of STEL Holdings is about 72.2%, meaning it keeps roughly 72.2% 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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