Saraswati Commercial (India) Limited (ZSARACOM) fair value: what the stock is really worth
As of Oct 22, 2026: fair value (intrinsic value) of Saraswati Commercial (India) Limited stock ₹7,223, price ₹9,770, upside -26.1%, quality 48 out of 100. Rating: overvalued. 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 3, 2026.
How to read this chart
60‑month range ₹1,768 – ₹26,468 · fair‑value band ₹6,981 – ₹12,433 · the ₹9,770 price screens above the ₹7,223 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Saraswati Commercial (India) Limited operates as a non-banking financial institution in India. It engages in lending activities, as well as invests and trades in shares and securities. The company was incorporated in 1983 and is based in Mumbai, India.
Stock analysis
Saraswati Commercial (India) Limited (ZSARACOM) currently trades at ₹9,770, while our model-based Fair Value estimate is ₹7,223, 26.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of ₹29,481 per share, and 4 of the 7 models we run sit above the ₹9,770 price.
Bear case: the Asset-Based group reads lowest at ₹3,540, and 3 of the 7 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹6,981 (bear) to ₹12,433 (bull), the price of ₹9,770 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 48/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Spin-off in 2017: revenue and profit before it include the divested business. Growth is measured afresh from 2017.
Saraswati Commercial (India) Limited reported revenue of ₹720M in FY2026 versus ₹684M in FY2022, a compound +1.3%/yr. Reported net income was ₹923M in FY2026, compounding +9.2%/yr from FY2022.
Key figures
Market cap ₹10.7B (≈ $113M) Micro · P/E ratio 8.4 · P/S ratio 6.49 · EPS (TTM) ₹1,163 · Net margin 80.1% · Return on equity 8.9% · Return on assets (EBIT) 10.7% · Operating margin 98.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −12% fair-value upside, at −26%, ZSARACOM screens richer than that median.
Fair Value models
Bear₹6,981Fair Value ₹7,223Bull₹12,433
Price ₹9,770 · Upside -26.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹656.60 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.Coverage ⓘCoverage = 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.55/100
Spin-off in 2017: revenue and profit before it include the divested business. Growth is measured afresh from 2017.
Revenue growth 1 year
−3.6%
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.
+18.4%
Revenue growth 8 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.
−2.1%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+26.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.5%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.14.8% vs 26.3%, slowing
Profit margin 2021 to 2026 ⓘ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.5,580% → 161%
2026 sits 73% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Saraswati Commercial (India) Limited with another stock
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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.Asset Management · 669 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score48 · Below median
Fair Value upside−26.1% · Bottom 25%
Profitability
Return on equity (12 months)8.9% · Above median
Return on assets7.6% · Above median
Net margin (12 months)80.1% · Top 25%
Operating margin (12 months)98.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)140.2% · Top 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (12 months)8.4× · Cheaper than median
P/B0.97× · Pricier than median
P/S (12 months)6.49× · Pricier than median
EV/EBITDA6.7× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 62
FUTURE (revenue growth)100· sector 38
PAST (return on equity)36· sector 24
HEALTH (low debt)100· sector 95
DIVIDEND (yield)0· sector 81
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.
Is Saraswati Commercial (India) Limited (ZSARACOM) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of ₹7,223 versus a price of ₹9,770, about −26% upside (overvalued).
What is the fair value of ZSARACOM?
Our model-based fair value for Saraswati Commercial (India) Limited is ₹7,223 (as of Oct 3, 2026), built from audited fundamentals. The current price: ₹9,770.
What is the quality score of ZSARACOM?
Saraswati Commercial (India) Limited has a Quality Score of 48/100. 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 Saraswati Commercial (India) Limited (ZSARACOM)?
Our model-based price target is the fair value of ₹7,223 (as of Oct 3, 2026) from 7 valuation models. Cautious scenario ₹6,981, optimistic scenario ₹12,433. It is a calculation from audited fundamentals, not an analyst target.
What is the Saraswati Commercial (India) Limited stock forecast for 2026?
Our models put fair value at ₹7,223, about −26% upside versus a price of ₹9,770 (overvalued). Cautious scenario ₹6,981, optimistic scenario ₹12,433. The calculation is refreshed regularly with new filings.
What is the revenue of Saraswati Commercial (India) Limited (ZSARACOM)?
Saraswati Commercial (India) Limited reported trailing-twelve-month revenue of about ₹1.7B (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of Saraswati Commercial (India) Limited (ZSARACOM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Saraswati Commercial (India) Limited it is ₹7,223 per share (as of Oct 3, 2026), against a price of ₹9,770. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Saraswati Commercial (India) Limited stock overvalued or undervalued in 2026?
As of Oct 3, 2026, ZSARACOM trades above its calculated fair value: price ₹9,770, fair value ₹7,223, a gap of about −26% (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 ZSARACOM?
No. The price is what the market pays today (₹9,770); the fair value is what the company's own numbers justify (₹7,223). For Saraswati Commercial (India) Limited the two are ₹2,547 per share apart. That gap is exactly why we show both numbers side by side.
How much is Saraswati Commercial (India) Limited worth?
The market values Saraswati Commercial (India) Limited at about ₹10.7B (market capitalisation, as of Oct 3, 2026). Per share that is ₹9,770; our models calculate a fair value of ₹7,223 per share.
What do the bullish and bearish scenarios say about ZSARACOM?
Our models span a range for Saraswati Commercial (India) Limited: cautious scenario ₹6,981, base ₹7,223, optimistic ₹12,433 per share (as of Oct 3, 2026, price ₹9,770). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZSARACOM?
Saraswati Commercial (India) Limited trades at a price-to-earnings ratio of 8.4 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹7,223 is built from several models across several years. Other multiples: P/B 1.0, P/S 6.5, EV/EBITDA 6.7.
How solid is the balance sheet of Saraswati Commercial (India) Limited (ZSARACOM)?
Balance-sheet figures for Saraswati Commercial (India) Limited (as of Oct 3, 2026): return on equity 8.9%. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is ZSARACOM from its 52-week high?
Saraswati Commercial (India) Limited trades at ₹9,770, about 30% below its 52-week high of ₹13,980 and 12% above the low of ₹8,754 (as of Oct 22, 2026). Distance from the high says nothing about value: that is what the fair value of ₹7,223 is for.
Which stocks are comparable to Saraswati Commercial (India) Limited?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, Inc, 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 Saraswati Commercial (India) Limited stock attractive at the current price?
The data as of Oct 3, 2026: price ₹9,770, calculated fair value ₹7,223 (−26%), Quality Score 48/100, from 7 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 ZSARACOM calculated?
We run Saraswati Commercial (India) Limited through 7 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 ₹7,223, 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 13.2 % above its aggregate fair value. Saraswati Commercial (India) Limited 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 Saraswati Commercial (India) Limited (ZSARACOM)?
The closing price on Oct 22, 2026 was ₹9,770. Our model-based fair value is ₹7,223, about −26% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Saraswati Commercial (India) Limited right now?
Solid but not exceptional quality (48/100) 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 Saraswati Commercial (India) Limited
How large is the market capitalisation of Saraswati Commercial (India) Limited (ZSARACOM)?
The market capitalisation of Saraswati Commercial (India) Limited is ₹10.7B (≈ $113M). 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 Saraswati Commercial (India) Limited (ZSARACOM)?
The price-to-sales ratio of Saraswati Commercial (India) Limited is 6.49 (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 Saraswati Commercial (India) Limited (ZSARACOM)?
Earnings per share at Saraswati Commercial (India) Limited are ₹1,163 (price ÷ EPS = P/E 8.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Saraswati Commercial (India) Limited (ZSARACOM)?
The net margin of Saraswati Commercial (India) Limited is 80.1% (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 Saraswati Commercial (India) Limited (ZSARACOM)?
The return on equity (ROE) of Saraswati Commercial (India) Limited is 8.9% (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 Saraswati Commercial (India) Limited (ZSARACOM)?
On an EBIT basis the return on assets of Saraswati Commercial (India) Limited is 10.7% (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 Saraswati Commercial (India) Limited (ZSARACOM)?
The operating margin of Saraswati Commercial (India) Limited is 98.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Saraswati Commercial (India) Limited (ZSARACOM)?
Revenue at Saraswati Commercial (India) Limited is growing +140% versus a year earlier (3y avg +18.4%). 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 Saraswati Commercial (India) Limited (ZSARACOM)?
Earnings per share at Saraswati Commercial (India) Limited are growing +124% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Saraswati Commercial (India) Limited (ZSARACOM) generate?
The free cash flow of Saraswati Commercial (India) Limited is −₹1.1B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Saraswati Commercial (India) Limited (ZSARACOM) carry?
The net debt of Saraswati Commercial (India) Limited is ₹198M (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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Oct 3, 2026