Shardul Securities Ltd

₹ 52.6 -0.19%

21 Aug - close price

shardulsecurities.com BSE: 512393 NSE: SHARDUL

About

Incorporated in 1985, Shardul Securities
Ltd is engaged in Investment and Finance activities including Broking activities^[1]

Key Points

Business Overview:^[1]^[2]
SSL is a flagship company of Shriyam Group. It used to cater to financial requirements of manufacturing and servicing industry by way of lease finance. However, due to change in policies their focus shifted to investment banking activities. SSL is also registered as Non Systematically Important Non Deposit Taking Non Banking Financial Corporation

Website BSE NSE - BE

Market Cap ₹ 460 Cr.
Current Price ₹ 52.6
High / Low ₹ 60.0 / 20.1
Stock P/E 19.9
Book Value ₹ 75.2
Dividend Yield 0.00 %
ROCE -5.88 %
ROE -7.22 %
Face Value ₹ 2.00

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Pros

Stock is trading at 0.70 times its book value
Market value of investments Rs.590 Cr. is more than the Market Cap Rs.460 Cr.

Cons

The company has delivered a poor sales growth of -7.55% over past five years.
Company has a low return on equity of 4.21% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Capital Markets Stockbroking & Allied

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30	30	59	54	140	40	-33	-85	94	-39	-13	5	189
	1	3	2	4	3	4	5	4	5	5	4	81	4
Operating Profit	29	27	57	49	137	36	-38	-89	89	-44	-17	-76	185
OPM %	96%	91%	97%	92%	98%	89%			95%			-1,663%	98%
	0	0	0	1	0	0	0	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0	1	1	4	5	5	8
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	29	27	57	50	136	36	-38	-89	88	-48	-22	-82	177
Tax %	21%	34%	28%	68%	17%	19%	5%	-22%	20%	-20%	-21%	-22%	19%
	23	18	41	16	114	29	-40	-70	70	-38	-17	-64	143
EPS in Rs	2.63	2.03	4.68	1.84	13.01	3.29	-4.56	-7.97	8.04	-4.40	-1.97	-7.29	16.31
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	12	6	6	7	7	6	24	15	13	173	63	16	141
	2	3	4	3	5	14	2	3	10	10	16	64	94
Operating Profit	10	4	2	4	2	-8	21	13	3	163	47	-48	47
OPM %	84%	59%	37%	61%	27%	-151%	90%	84%	25%	94%	75%	-302%	33%
	3	2	0	0	0	0	0	0	0	1	0	0	0
Interest	1	0	1	1	1	0	0	0	0	1	2	15	22
Depreciation	1	1	0	0	0	0	0	0	0	0	0	1	1
Profit before tax	12	5	1	4	1	-9	21	12	3	163	45	-64	25
Tax %	17%	3%	39%	7%	51%	-29%	25%	23%	23%	40%	26%	-23%
	10	5	1	3	0	-6	16	10	2	98	33	-49	23
EPS in Rs	1.14	0.56	0.08	0.40	0.04	-0.72	1.78	1.10	0.25	11.18	3.77	-5.62	2.65
Dividend Payout %	14%	21%	154%	30%	269%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	10%
5 Years:	-8%
3 Years:	6%
TTM:	752%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	320%

Stock Price CAGR
10 Years:	21%
5 Years:	34%
3 Years:	34%
1 Year:	4%

Return on Equity
10 Years:	3%
5 Years:	3%
3 Years:	4%
Last Year:	-7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	18	18	18	18	18	18	18	18	18	18	18	18
Reserves	121	125	124	128	286	238	371	459	428	654	686	640
	0	0	11	0	0	0	0	0	0	10	23	274
	7	7	24	5	10	3	24	49	25	16	11	3
Total Liabilities	146	149	177	150	314	259	412	525	471	697	738	934
	21	20	20	20	18	17	17	17	16	16	16	17
CWIP	0	0	0	0	0	0	0	0	0	0	0	2
Investments	33	56	70	86	276	223	353	473	427	649	682	845
	92	73	87	45	20	19	43	35	28	32	41	70
Total Assets	146	149	177	150	314	259	412	525	471	697	738	934

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-38	5	31	-14	1	5	-10	8	-18	21	-36	-23
	35	5	-22	5	2	-0	22	-22	18	-24	12	-209
	-2	-3	11	-12	-1	-1	-0	-0	-0	10	13	236
Net Cash Flow	-5	7	20	-22	2	4	12	-14	-1	7	-11	4
Free Cash Flow	-38	5	31	-14	1	5	-10	8	-18	22	-37	-26
CFO/OP	-367%	144%	1,491%	-318%	104%	-64%	-45%	72%	-514%	50%	-43%	35%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	24	835	224	56	12	13	0	3	0	0	1	1
Inventory Days
Days Payable
Cash Conversion Cycle	24	835	224	56	12	13	0	3	0	0	1	1
Working Capital Days	2,367	3,181	220	1,514	88	109	185	62	208	3	97	86
ROCE %	8%	4%	1%	3%	1%	-3%	6%	3%	1%	29%	7%	-6%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Investments
Rs. Lakhs ・Standalone data

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x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx

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Gold Holdings
KG ・Standalone data

Number of Permanent Employees
count ・Standalone data

SBIL Subsidiary Net Profit
Rs. Lakhs ・Standalone data

Total Investment Portfolio
Rs. Lakhs ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

5 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.85%	74.85%	74.85%	74.85%	74.85%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.24%	0.30%	0.30%	0.30%
	25.16%	25.18%	25.17%	25.16%	25.16%	25.16%	25.16%	25.15%	24.91%	24.86%	24.86%	24.85%
No. of Shareholders	5,887	5,901	6,274	6,120	6,507	6,589	7,793	7,671	7,405	7,245	6,813	6,805

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.85%	74.85%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.30%	0.30%
	25.16%	25.16%	25.16%	25.16%	25.16%	25.16%	25.16%	25.17%	25.16%	24.86%	24.85%
No. of Shareholders	11,106	8,679	8,155	7,650	7,074	6,729	6,197	6,274	7,793	6,813	6,805

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Shardul Securities Ltd

Shardul Securities Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports