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10 Yrs X-Ray 
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Analyst Note 
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About
Arihant Capital Markets Ltd (ARIHANTCAP)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 511605 NSE: ARIHANTCAP Finance - Stock Broking | Small Cap | Arihant Capital Mkt. Share Price
₹93.29 1.27 (1.38%)
As on 25-Sep'26 16:59
Arihant Capital Markets Ltd (ARIHANTCAP)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 511605 NSE: ARIHANTCAP Finance - Stock Broking | Small Cap | Arihant Capital Mkt. Share Price
₹93.29 1.27 (1.38%)
As on 25-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,023 Cr.
Current Price
₹93.3
52-Week Low / High
₹58 / 120
TTM EPS
₹3.7
TTM Sales
₹233 Cr.
Book Value per Share
₹42.1
P/E Ratio
25.41
Higher than its 5-year historical median
Industry PE
48.1
Price to Book (P/B)
2.22
Lower than its 5-year historical median
Price to Sales (P/S)
4.39
Higher than its 5-year historical median
EV/EBITDA
9.16
Higher than its 5-year historical median
Dividend Yield
0.54%
Profitability Efficiency
Return on Equity (ROE)
7.70%
In line with industry median
Return on Capital Employed (ROCE)
11.42%
Outperforms industry median
Return on Assets (ROA)
3.34%
Operating Profit Margin
38.3%
Net Profit Margin
15.28%
Gross Profit Margin
22%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-15.31%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-27.16%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-46.41%
Asset Quality
Promoter Holding
67.67%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹451 Cr.
Equity
₹11 Cr.
Face Value
₹1
All Time Low / High
₹0.01 / 124.90
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Strong
Is Arihant Capital Markets Ltd a good quality company?
Arihant Capital Markets Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Arihant Capital Markets Ltd performance compare with that of its Peers?
Revenue growth of Arihant Capital Markets Ltd vs industry peers?
Arihant Capital Markets Ltd revenue CAGR is 12.22%, compared to the industry median CAGR of 7.46%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Arihant Capital Markets Ltd?
Promoters hold 67.67% of the Arihant Capital Markets Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Arihant Capital Markets Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 22% based on the current price.
10 Year X-Ray :
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.
Arihant Capital Markets Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 35% | 26.7% | 15.9% | 17.2% | 26.4% | 30.4% | 16.3% | 30.2% | 22.5% | 12.5% | - |
| Value Creation Index ⓘ | 1.5 | 0.9 | 0.1 | 0.2 | 0.9 | 1.2 | 0.2 | 1.2 | 0.6 | -0.1 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 570 | 515 | 80.3 | 79.5 | 109 | 152 | 132 | 229 | 241 | 204 | 230 |
| Sales YoY Gr. | - | -9.6% | -84.4% | -1% | 37.6% | 39.4% | -13.2% | 73.1% | 5.4% | -15.3% | - |
| Adj EPS ⓘ | 1.4 | 1.9 | 1.5 | 1.7 | 3.3 | 5.2 | 2.5 | 6.3 | 5.1 | 3 | 3.6 |
| YoY Gr. | - | 34.3% | -22.4% | 14.8% | 95.3% | 55.4% | -51.5% | 150.8% | -19.5% | -41.5% | - |
| BVPS (₹) ⓘ | 7.3 | 9 | 10.4 | 12 | 15.1 | 19.9 | 22.3 | 28.2 | 32.8 | 37.2 | 38.9 |
| Adj Net Profit ⓘ | 14.9 | 20 | 15.5 | 17.8 | 34.8 | 54.1 | 26.2 | 65.8 | 53 | 32.6 | 39 |
| Cash Flow from Ops. ⓘ | 4.3 | -38.1 | 7.8 | 117 | -31 | -21.1 | 15.9 | -35.9 | 27.4 | -105 | - |
| Debt/CF from Ops. ⓘ | 2 | -2.4 | 12.5 | 0.3 | -1.6 | -3.7 | 3.2 | -2.6 | 3 | -2.2 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -10.8% | 13.3% | 15.6% | -15.3% | ||||
| Adj EPS ⓘ | 8.5% | -2.3% | 5.8% | -41.5% | ||||
| BVPSⓘ | 19.8% | 19.7% | 18.5% | 13.4% | ||||
| Share Price | 22% | 27.8% | 9.9% | -15.5% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 21.8 | 23.6 | 15.3 | 15.2 | 24.7 | 29.7 | 11.9 | 25 | 16.7 | 8.7 | 9.4 |
| Op. Profit Mgn % ⓘ | 5 | 7.5 | 45.4 | 45.9 | 50.4 | 48.8 | 41.2 | 49 | 41.9 | 38.6 | 34.5 |
| Net Profit Mgn % ⓘ | 2.6 | 3.9 | 19.3 | 22.3 | 31.8 | 35.5 | 19.8 | 28.8 | 22 | 16 | 17.1 |
| Debt to Equity ⓘ | 0.1 | 1 | 0.9 | 0.3 | 0.3 | 0.4 | 0.2 | 0.3 | 0.2 | 0.6 | - |
| Working Cap Days ⓘ | 41 | 80 | 710 | 650 | 499 | 547 | 726 | 322 | 239 | 337 | 800 |
| Cash Conv. Cycle ⓘ | 12 | 37 | 236 | -218 | -585 | -558 | -542 | -632 | -655 | -732 | 311 |
Valuation of Arihant Capital Mkt. - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.14 | 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 + | 590 | 545 | 95 | 91 | 116 | 171 | 138 | 238 | 251 | 207 |
| Exceptional Items ⓘ | 4 | 5 | 1 | 0 | 1 | 1 | 1 | 3 | 4 | 1 |
| Expenditure ⓘ + | 565 | 515 | 71 | 68 | 73 | 105 | 99 | 145 | 177 | 165 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 | 3 | -0 |
| Profit Before Tax ⓘ | 25 | 30 | 24 | 23 | 44 | 65 | 39 | 93 | 77 | 42 |
| Taxes ⓘ | 8 | 9 | 7 | 5 | 9 | 15 | 10 | 22 | 19 | 10 |
| Profit After Tax | 17 | 21 | 17 | 17 | 35 | 50 | 29 | 71 | 59 | 31 |
| Adjusted EPS (₹) | 1.6 | 2.0 | 1.6 | 1.7 | 3.3 | 4.8 | 2.8 | 6.8 | 5.6 | 2.9 |
| Dividend Payout Ratio (%) | 9.40% | 7.60% | 9.30% | 11.90% | 6% | 6.20% | 14.30% | 7.40% | 8.90% | 17.40% |
| 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 + | 100 | 119 | 135 | 150 | 182 | 229 | 257 | 323 | 376 | 441 |
| Short term borrowings | 8 | 95 | 109 | 41 | 56 | 82 | 60 | 72 | 68 | 215 |
| Long Term Borrowings | 1 | 1 | 0 | -0 | -1 | 1 | 1 | 28 | 29 | 24 |
| Current Liabilities | 99 | 189 | 208 | 186 | 279 | 348 | 264 | 430 | 373 | 633 |
| Trade Payables | 67 | 67 | 61 | 112 | 157 | 236 | 183 | 304 | 269 | 375 |
| Other Liabilities | -76 | -162 | -170 | -154 | -213 | -318 | -242 | -376 | -328 | -591 |
| Total Liabilities ⓘ | 200 | 309 | 343 | 335 | 460 | 579 | 522 | 780 | 787 | 1,097 |
Assets | ||||||||||
| Non Current Asset + | 22 | 23 | 27 | 28 | 36 | 38 | 33 | 223 | 217 | 371 |
| Current Asset + | 178 | 286 | 316 | 307 | 424 | 541 | 489 | 557 | 570 | 726 |
| Total Assets ⓘ | 200 | 309 | 343 | 335 | 460 | 579 | 522 | 780 | 787 | 1,097 |
| 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 ⓘ | 14 | -46 | -4 | 118 | -32 | -18 | 15 | -30 | 32 | -122 |
| Cash Flow From Investing Activity ⓘ | -16 | 16 | -4 | -2 | -7 | 13 | -0 | 6 | -21 | -22 |
| Cash Flow From Financing Activity ⓘ | 8 | 85 | 3 | -77 | 10 | 18 | -32 | 27 | -14 | 153 |
| Net Cash Flow ⓘ | 6 | 54 | -5 | 38 | -28 | 13 | -17 | 4 | -4 | 9 |
| 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 (₹) | 8 | 9.90 | 8.10 | 8.40 | 16.70 | 24.20 | 2.80 | 6.80 | 5.60 | 2.90 |
| DPS (₹) | 0.80 | 0.80 | 0.80 | 1 | 1 | 1.50 | 0.40 | 0.50 | 0.50 | 0.50 |
| BVPS (₹) | 48.1 | 57.1 | 64.6 | 71.9 | 87.5 | 109.9 | 24.6 | 31 | 36.1 | 40.2 |
Performance Ratios | ||||||||||
| ROA (%) | 9.8 | 8.1 | 5.1 | 5.2 | 8.7 | 9.7 | 5.3 | 10.8 | 7.5 | 3.3 |
| ROE (%) | 18.2 | 18.9 | 13.2 | 12.3 | 20.9 | 24.5 | 12.0 | 24.4 | 16.8 | 7.7 |
| ROCE (%) | 30.4 | 23.6 | 15.2 | 14.5 | 22.3 | 26.4 | 16.0 | 29.0 | 22.0 | 11.4 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 1.2 | 1.8 | 0.9 | 0.4 | 0.8 | 3.6 | 1.6 | 1.8 | 1.9 | 1.5 |
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Arihant Capital Markets Ltd FAQs
The current trading price of Arihant Capital Mkt. on 25-Sep-2026 16:59 is ₹93.29.
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 24-Sep-2026 the market cap of Arihant Capital Mkt. stood at ₹1,022.6 Cr
The latest P/E ratio of Arihant Capital Mkt. as of 24-Sep-2026 is 25.98.
The latest P/B ratio of Arihant Capital Mkt. as of 24-Sep-2026 is 2.40.
The 52-week high of Arihant Capital Mkt. is ₹120.3 and the 52-week low is ₹57.90.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Arihant Capital Mkt. is ₹230 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Arihant Capital Markets Ltd is a average quality company.
The key valuation ratios of Arihant Capital Markets Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Arihant Capital Markets Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Arihant Capital Markets Ltd
Arihant Capital Markets was incorporated on June 25, 1992.It has its registered office located at Indore, Madhya Pradesh.
The company has presence in 110 cities with over 620 offices across the nation. Clients turn to Arihant for its complete platform of financial services combined with excellent execution. It caters to mutual fund houses, insurance companies and almost all the banks active in the capital market segment.
Business area of the Company:-
Arihant Capital Markets is an ISO 9001:2008 Certified Company. It is one of the leading financial services companies in India. The company provides a gamut of products and services including securities and commodities broking, investment planning, financial planning, wealth management and merchant banking to a substantial and diversified clientele that includes individuals, corporations and financial institutions.
Services offered:-
Arihant has developed a diverse and robust portfolio of financial services to help its customers manage their money in the way that benefits them the most. They are as follows:-
- 1) Broking Services include equity broking, derivative broking, and commodities broking
- 2) Distribution Services include both mutual fund and Initial public offering (IPO)
- 3) Depository Srvices include both shares and commodities
- 4) Wealth Management Service include Advisory service, portfolio management service
- 5) Research Service are covered for equity and derivatives, mutual fund and IPO
- 6) Merchant banking and investment banking services include capital market services, coporarte service and strategic service
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