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Shardul Securities Ltd (SHARDUL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 512393 NSE: SHARDUL Finance - Investment | Small Cap | Shardul Securities Share Price
₹49.82 -2.62 (-5.00%)
As on 23-Oct'26 16:59
Shardul Securities Ltd (SHARDUL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 512393 NSE: SHARDUL Finance - Investment | Small Cap | Shardul Securities Share Price
₹49.82 -2.62 (-5.00%)
As on 23-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹459 Cr.
Current Price
₹49.8
52-Week Low / High
₹20 / 60
TTM EPS
₹3.3
Book Value per Share
₹87.7
P/E Ratio
15.90
Higher than its 5-year historical median
Industry PE
50.7
Price to Book (P/B)
0.60
Higher than its 5-year historical median
EV/EBITDA
13.78
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-7.22%
Underperforms industry median
Return on Capital Employed (ROCE)
-5.88%
Underperforms industry median
Return on Assets (ROA)
-5.91%
Underperforms industry median
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Net Interest Income Growth (1 Year)
Slowing versus 3-year growth rate
-74.13%
Book Value Growth (1 Year)
Slowing versus 3-year growth rate
3.88%
Asset Quality
Gross NPA(%)
0.00%
Net NPA(%)
0.00%
TTM Sales
₹153 Cr.
Reserves
₹750 Cr.
Equity
₹17.5 Cr.
Face Value
₹2
All Time Low / High
₹0.20 / 123.99
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Quality
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Valuation
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Price Trend
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Is Shardul Securities Ltd a good quality company?
Shardul Securities Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.
We have analysed the performance of the company on the following:
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How has it performed on generating Profits?
By checking its Total Income growth, NPM, PPOP, RoA and RoE compared to its last 5-year median.
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How efficiently has it grown and managed operations?
By checking its Total Asset growth.
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How strong is its Capital position and Asset Quality?
By checking its Capital Adequacy Ratio (CAR), GNPA and NNPA.
How does Shardul Securities Ltd performance compare with that of its Peers?
AUM Growth of Shardul Securities Ltd vs Industry Peers?
Shardul Securities Ltd AUM CAGR is 17.56%, compared to the 5-year industry median CAGR of 9.48%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Shardul Securities Ltd?
Promoters hold 74.85% of the Shardul Securities Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Shardul Securities Ltd over the last decade?
Over the last 9 years, the stock has delivered a CAGR of 20.1% based on the current price.
10 Year X-Ray : Login to view analysis.
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Shardul Securities Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 1 | 8.4 | 4.2 | 5.2 | 3.8 | 20.7 | 11.5 | 3.5 | 160 | 42.5 | 125 | |
| YoY Gr. Rt. % | - | 701.5% | -49.4% | 23.5% | -27.1% | 441.5% | -44.6% | -69.6% | 4489.9% | -73.5% | - | |
| Adj EPS (₹ ) | 0.6 | 0 | 0.3 | 0 | -0.7 | 1.6 | 0.9 | 0.1 | 10.8 | 2.5 | 2 | |
| YoY Gr. Rt. % | - | -94.6% | 866.7% | -96.6% | -7500% | NA | -42.7% | -84.4% | 7592.9% | -77.1% | - | |
| BVPS (₹ ) | 12.6 | 12.5 | 12.8 | 28.4 | 23.9 | 35.7 | 44.3 | 41.4 | 63.2 | 65.6 | 70.3 | |
| YoY Gr. Rt. % | - | -0.9% | 2.2% | 122.7% | -15.9% | 49.3% | 24.1% | -6.6% | 52.7% | 3.9% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 4.3 | 0.2 | 2.2 | 0 | -2.8 | 5.1 | 2.1 | 0.3 | 19.7 | 3.7 | 0 | |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 50.9% | 61.9% | 54.8% | -73.5% | ||||
| Adj EPS | 18.2% | NA | 40% | -77.1% | ||||
| BVPS | 20.1% | 22.4% | 14% | 3.9% | ||||
| Share Price | 20.1% | 26.5% | 33.8% | -0.4% | ||||
Key Financial Ratios
| RATIOS \ YEARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||||||
| Net Profit Margin (%) | 463.4 | 2.6 | 59.7 | 0.9 | -169.5 | 66.5 | 68.5 | 34.5 | 58.9 | 50.8 | 13.9 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 4.5 | 0.2 | 2.3 | 0 | -2.8 | 5.3 | 2.3 | 0.3 | 20.6 | 3.8 | 2.8 | |
Valuation of Shardul Securities - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income + | 11 | 8 | 7 | 6 | 25 | 16 | 7 | 174 | 63 | 16 |
| Exceptional Items ⓘ | 1 | 2 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Expenditure ⓘ + | 9 | 4 | 6 | 14 | 4 | 3 | 4 | 11 | 18 | 80 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 4 | 1 | -9 | 21 | 12 | 3 | 163 | 45 | -64 |
| Taxes ⓘ | 0 | 0 | 0 | -3 | 5 | 3 | 1 | 65 | 12 | -15 |
| Profit After Tax | 1 | 3 | 0 | -6 | 16 | 10 | 2 | 98 | 33 | -49 |
| Adjusted EPS (₹) | 0.1 | 0.4 | 0.0 | -0.7 | 1.8 | 1.1 | 0.3 | 11.2 | 3.8 | -5.6 |
| Dividend Payout Ratio (%) | 153.40% | 30.30% | 271.60% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital + | 142 | 145 | 304 | 256 | 389 | 476 | 446 | 671 | 704 | 658 |
| Short term borrowings | 11 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Borrowings | 2 | 2 | 8 | 2 | 20 | 29 | 24 | 23 | 33 | 265 |
| Current Liabilities | 33 | 3 | 2 | 2 | 4 | 19 | 1 | 2 | 2 | 2 |
| Trade Payables | 20 | 2 | 2 | 1 | 0 | 1 | 0 | 1 | 0 | 0 |
| Other Liabilities | -31 | -2 | -2 | -1 | -0 | -1 | -0 | -1 | -0 | -0 |
| Total Liabilities ⓘ | 177 | 150 | 314 | 259 | 412 | 525 | 471 | 697 | 738 | 925 |
Assets | ||||||||||
| Non Current Asset + | 110 | 109 | 258 | 229 | 354 | 489 | 430 | 659 | 708 | 863 |
| Current Asset + | 67 | 41 | 56 | 30 | 58 | 36 | 41 | 37 | 30 | 62 |
| Total Assets ⓘ | 177 | 150 | 314 | 259 | 412 | 525 | 471 | 697 | 738 | 925 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 31 | -14 | 1 | 5 | -10 | 8 | -18 | 21 | -40 | -23 |
| Cash Flow From Investing Activity ⓘ | -22 | 5 | 2 | -0 | 22 | -23 | 18 | -24 | 17 | -209 |
| Cash Flow From Financing Activity ⓘ | 11 | -12 | -1 | -1 | -0 | -0 | -0 | 10 | 12 | 236 |
| Net Cash Flow ⓘ | 20 | -22 | 2 | 4 | 12 | -14 | -1 | 7 | -11 | 4 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios | ||||||||||
| EPS (₹) | 0.40 | 2 | 0.20 | -3.60 | 8.90 | 5.50 | 1.30 | 55.90 | 3.80 | -5.60 |
| DPS (₹) | 0.60 | 0.60 | 0.60 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BVPS (₹) | 81 | 83 | 173.6 | 146 | 222 | 272.2 | 254.7 | 383.6 | 80.5 | 75.2 |
Performance Ratios | ||||||||||
| ROA (%) | 0.4 | 2.1 | 0.2 | -2.2 | 4.6 | 2.1 | 0.4 | 16.8 | 4.6 | -5.9 |
| ROE (%) | 0.5 | 2.4 | 0.2 | -2.3 | 4.8 | 2.2 | 0.5 | 17.5 | 4.8 | -7.2 |
| ROCE (%) | 1.4 | 3.0 | 0.7 | -3.2 | 6.4 | 2.9 | 0.6 | 29.0 | 6.5 | -5.9 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.5 | 0.5 | 0.3 | 0.3 | 0.2 | 0.4 | 0.4 | 0.4 | 0.5 | 0.3 |
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Shardul Securities Ltd FAQs
The current trading price of Shardul Securities on 23-Oct-2026 16:59 is ₹49.82.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Oct-2026 the market cap of Shardul Securities stood at ₹458.8 Cr
The latest P/E ratio of Shardul Securities as of 22-Oct-2026 is 26.41.
The latest P/B ratio of Shardul Securities as of 22-Oct-2026 is 0.75.
The 52-week high of Shardul Securities is ₹59.55 and the 52-week low is ₹20.14.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shardul Securities is ₹125 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shardul Securities Ltd is a below average quality company.
The key valuation ratios of Shardul Securities Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Shardul Securities Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Shardul Securities Ltd
Shardul Securities, formerly known as Shriyam Securities and Finance Limited, is a flagship company of the Shriyam Group promoted by an young team of chartered accountants with immense experience in the finance industry. The company was promoted with the view to catering to the financial requirements of manufacturing and servicing industry by way of lease finance. The company changed to its present name in 2003.
However, due to change in policies the focus of the company shifted to investment banking activities and the company is presently engaged in investment in Equity / Debt / Merchant Banking / IPO Funding / Advisory Services and Broking Activities.
The company is also registered as NBFC with RBI besides being listed on the BSE. The company is managed and governed by board of directors consisting of eminent bankers, professionals and chartered accountants drawn from various Industries.
Services offered by the company:
Shardul Securities is engaged in Investment in Equity, and trading in Bonds, Mutual Funds, Govt Securities and Treasury Bills, Commercial Papers, Certificate of Deposits, Derivatives including Options and Futures. IPO funding, Portfolio Management advisory services, Forex advisory services, Loan Syndications, Merchant Banking services including Issue management, Underwriting, mergers and acquisitions.
Subsidiary:
- Shiryam Broking Intermediary Limited - for Broking and Merchant Banking activities, as wholly owned Subsidiary of Shardul Securities Limited.
- Shardul Commodities International Limited - for Broking and Trading in Commodities as wholly owned subsidiary of Shardul Securities Limited.
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