Shardul Securities Ltd
Incorporated in 1985, Shardul Securities
Ltd is engaged in Investment and Finance activities including Broking activities[1]
- Market Cap ₹ 444 Cr.
- Current Price ₹ 50.8
- High / Low ₹ 111 / 35.6
- Stock P/E
- Book Value ₹ 80.5
- Dividend Yield 0.00 %
- ROCE 6.61 %
- ROE 4.80 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Stock is trading at 0.63 times its book value
- Market value of investments Rs.590 Cr. is more than the Market Cap Rs.444 Cr.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 7.77% 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 12 | 6 | 6 | 7 | 7 | 6 | 24 | 15 | 13 | 173 | 63 | 17 | |
| 4 | 2 | 3 | 4 | 3 | 5 | 14 | 2 | 3 | 10 | 10 | 16 | 17 | |
| Operating Profit | 2 | 10 | 4 | 2 | 4 | 2 | -8 | 21 | 13 | 3 | 163 | 47 | -1 |
| OPM % | 40% | 84% | 59% | 37% | 61% | 27% | -151% | 90% | 84% | 25% | 94% | 75% | -5% |
| 3 | 3 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | |
| Interest | 0 | 1 | 0 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 2 | 2 |
| Depreciation | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 5 | 12 | 5 | 1 | 4 | 1 | -9 | 21 | 12 | 3 | 163 | 45 | -4 |
| Tax % | 19% | 17% | 3% | 39% | 7% | 51% | -29% | 25% | 23% | 23% | 40% | 26% | |
| 13 | 10 | 5 | 1 | 3 | 0 | -6 | 16 | 10 | 2 | 98 | 33 | -11 | |
| EPS in Rs | 1.54 | 1.14 | 0.56 | 0.08 | 0.40 | 0.04 | -0.72 | 1.78 | 1.10 | 0.25 | 11.18 | 3.77 | -1.20 |
| Dividend Payout % | 9% | 14% | 21% | 154% | 30% | 269% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 62% |
| 3 Years: | 59% |
| TTM: | -94% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 48% |
| 3 Years: | 51% |
| TTM: | -106% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 40% |
| 3 Years: | 35% |
| 1 Year: | -40% |
| Return on Equity | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 6% |
| 3 Years: | 8% |
| Last Year: | 5% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 |
| Reserves | 157 | 121 | 125 | 124 | 128 | 286 | 238 | 371 | 459 | 428 | 654 | 686 |
| -0 | -0 | -0 | 11 | -0 | -0 | -0 | -0 | -0 | -0 | 10 | 23 | |
| 5 | 7 | 7 | 24 | 5 | 10 | 3 | 24 | 49 | 25 | 16 | 11 | |
| Total Liabilities | 179 | 146 | 149 | 177 | 150 | 314 | 259 | 412 | 525 | 471 | 697 | 738 |
| 22 | 21 | 20 | 20 | 20 | 18 | 17 | 17 | 17 | 16 | 16 | 16 | |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Investments | 102 | 33 | 56 | 70 | 86 | 276 | 223 | 353 | 473 | 427 | 649 | 682 |
| 55 | 92 | 73 | 87 | 45 | 20 | 19 | 43 | 35 | 28 | 32 | 41 | |
| Total Assets | 179 | 146 | 149 | 177 | 150 | 314 | 259 | 412 | 525 | 471 | 697 | 738 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10 | -38 | 5 | 31 | -14 | 1 | 5 | -10 | 8 | -18 | 21 | -36 | |
| 6 | 35 | 5 | -22 | 5 | 2 | -0 | 22 | -22 | 18 | -24 | 12 | |
| -11 | -2 | -3 | 11 | -12 | -1 | -1 | -0 | -0 | -0 | 10 | 13 | |
| Net Cash Flow | 5 | -5 | 7 | 20 | -22 | 2 | 4 | 12 | -14 | -1 | 7 | -11 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 11 | 24 | 835 | 224 | 56 | 12 | 13 | -0 | 3 | 0 | 0 | 1 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 11 | 24 | 835 | 224 | 56 | 12 | 13 | -0 | 3 | 0 | 0 | 1 |
| Working Capital Days | 2,368 | 2,367 | 3,181 | 220 | 1,514 | 88 | 109 | 185 | 62 | 208 | 3 | 97 |
| ROCE % | 3% | 8% | 4% | 1% | 3% | 1% | -3% | 6% | 3% | 1% | 29% | 7% |
Documents
Announcements
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Intimation For Appointment Of Secretarial Auditor.
4 Sep - Appointed M/s. D Maurya & Associates as secretarial auditors for FY2025-26 to FY2029-30, approved at 03 Sept 2025 AGM.
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Announcement under Regulation 30 (LODR)-Change in Directorate
4 Sep - Reappointment of Yogendra Chaturvedi as Whole-time Director for five years from 05 Feb 2026; approved at 03 Sep 2025 AGM.
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report 4 Sep
- Shareholder Meeting / Postal Ballot-Outcome of AGM 3 Sep
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
26 Aug - Newspaper publication about notice to Shareholder about 100 Days Campaign "Saksham Niveshak".
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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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