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Data-driven stock valuation

Saraswati Commercial (India) Limited (ZSARACOM) fair value: what the stock is really worth

We calculate from audited financials what Saraswati Commercial (India) Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Financial Services · IN · Market cap ₹12.5B (≈ $132M) · ISIN INE967G01019

At a glance

SC Saraswati Commercial (India) Limited ZSARACOM · BSE
Price₹11,700
Fair Value₹9,975
Upside−14.7%
Quality45/100

Below-average quality, and trading another 17% above our fair value of ₹9,975.

As of Sep 7, 2026, the fair value of Saraswati Commercial (India) Limited is ₹9,975 per share against a price of ₹11,700, so the fair value sits 15% below the price. A model estimate from reported figures, not an analyst target.

!Mixed Growth (revenue 3y +18.4 %/yr)
Highly profitable · 80.1% net margin
!Low debt · negative free cash flow
Ranks above peers (8/12)
Wide moat 67/100
!Weak on valuation: 14 out of 100
Evidence: High Range ₹7,746 to ₹13,688

Fair value as of: Sep 7, 2026

From 7 valuation models · updated yesterday

Share price −1.7% over the past month.

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What runs behind every stock

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

What matters now

  • Solid but not exceptional quality (45/100) 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.

Price vs Fair Value (5 years)

₹26,468 ₹1,768 Fair Value ₹9,975 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 7, 2026.

How to read this chart

60‑month range ₹1,768 – ₹26,468 · fair‑value band ₹7,746 – ₹13,688 · the ₹11,700 price screens above the ₹9,975 fair value. Dashed = 300-day average. As of Sep 7, 2026.

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Analysis

Saraswati Commercial (India) Limited (ZSARACOM) currently trades at ₹11,700, while our model-based Fair Value estimate is ₹9,975, implying the stock looks roughly 17.3% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Financial Services sector. Bull case: the DCF Models group reads highest at a median of ₹30,107 per share, and 4 of the 7 models we run sit above the ₹11,700 price. Bear case: the Asset-Based group reads lowest at ₹6,734, and 3 of the 7 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Saraswati Commercial (India) Limited generated revenue of ₹1.7B at a net margin of 80.1%. Revenue grew 140.2% year over year. It earns a return on equity of 8.9%. Net debt stands at ₹198M. Fundamentals as of Sep 7, 2026

Scenario range: ₹7,746 (bear) to ₹13,688 (bull), the price of ₹11,700 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 21% below its 52-week high and 35% 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 −15%, ZSARACOM screens cheaper than that median.

Fair Value models

Based on fiscal year 2026 figures (about 5 months old). Earnings retained since then (₹513.36 per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

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
Owner Earnings ₹13,240 ₹30,107 ₹65,515 68
Residual Income ₹8,459 ₹9,136 ₹11,325 68
P/E Multiple ₹8,213 ₹10,950 ₹13,688 63
All 7 models by family
DCF Models
Owner Earnings ₹13,240 ₹30,107 ₹65,515 68
Earnings-Based
Graham-Dodd ₹5,728 ₹39,945 ₹56,057 61
Lynch FV ₹20,637 ₹29,481 ₹38,326 59
Multiples
P/E Multiple ₹8,213 ₹10,950 ₹13,688 63
P/B Multiple ₹10,553 ₹14,070 ₹17,588 55
Asset-Based
NCAV (Graham) ₹5,025 ₹6,734 ₹10,050 54
Economic Profit
Residual Income ₹8,459 ₹9,136 ₹11,325 68

Widest divergence: DCF Models (₹30,107) versus Asset-Based (₹6,734). Highest evidence: Owner Earnings (68).

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Key figures & financial health

P/E ratio 10.1
P/S ratio 12.9 P/E × margin
EPS (TTM) ₹1,164 price ÷ EPS = P/E 10.1
Net margin 128% FY2026
Return on equity 8.9% TTM
Return on assets (EBIT) 10.7% avg 5y
More key figures
Profitability
Operating margin 98.4% TTM
Growth
Revenue (TTM) ₹1.7B TTM
Revenue growth (YoY) +140% 3y avg +18.4%
EPS growth (YoY) +124%
Balance sheet & cash flow
Free cash flow −₹1.1B FY2026
Net debt ₹198M FY2025

Figures from reported company fundamentals · as of Sep 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 45/100

Of which business quality 42 · Market factors (momentum, volatility) 51

Profitability 41
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 71
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

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.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

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.

Growth Quality 49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹720M
Latest YoY
−3.6%
Avg. revenue 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.
+18.4%
Avg. revenue growth/yr (11Y) 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.
−2.9%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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.
≈ +14.8%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+14.8%
Dividend yield0.0%
Trend 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.5Y 14.8% vs 10Y 26.3%, flattening
Operating margin (EBIT) 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.5,579.5% (2021) → 160.9% (2026) · falling
Worst earnings drop178% (2020) (loss year, drop beyond 100%) · in INR
⚠ Final year 2026 sits 73% above trend (one-off), rate approximate
Revenue +1.3%/yr
FY22 ₹684M
FY23 ₹433M
FY24 ₹60.7M
FY25 ₹747M
FY26 ₹720M
Net income +9.2%/yr
FY22 ₹649M
FY23 ₹117M
FY24 ₹1.0B
FY25 ₹534M
FY26 ₹923M

ZSARACOM screens 17% overvalued. Compare with Blackstone Inc →

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Cite: Fair Value Calculator (2026). "Saraswati Commercial (India) Limited Fair Value". https://www.fairvalue-calculator.com/stock/ZSARACOM

Context: sector, industry, market

Strength profile in five axes (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
VALUE14 · sector 40
FUTURE100 · sector 16
PAST36 · sector 24
HEALTH100 · sector 95
DIVIDEND0 · sector 81

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 Sep 7, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 408.05 kr 827.56 +103%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $107.73 $19.97 −81%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $560.56 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is Saraswati Commercial (India) Limited (ZSARACOM) overvalued or undervalued?
As of Sep 7, 2026, our model estimates a fair value of ₹9,975 versus a price of ₹11,700, about −15% upside (overvalued).
What is the fair value of ZSARACOM?
Our model-based fair value for Saraswati Commercial (India) Limited is ₹9,975 (as of Sep 7, 2026), built from audited fundamentals. The current price: ₹11,700.
What is the quality score of ZSARACOM?
Saraswati Commercial (India) Limited has a Quality Score of 45/100. 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 ₹9,975 (as of Sep 7, 2026) from 7 valuation models. Cautious scenario ₹7,746, optimistic scenario ₹13,688. 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 ₹9,975, about −15% upside versus a price of ₹11,700 (overvalued). Cautious scenario ₹7,746, optimistic scenario ₹13,688. 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 Sep 7, 2026).
What is the net profit margin of ZSARACOM?
The net profit margin of Saraswati Commercial (India) Limited is about 80.1%, meaning it keeps roughly 80.1% of revenue as net income. Based on the latest reported figures.
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