Shardul Securities Ltd

₹ 101 1.30%
02 Feb 1:45 p.m.
About

Shardul Securities Ltd (formerly known as Shriyam Securities & Finance Limited) is a Flagship Co. of the Shriyam Group. The Co. is a Non-Systemically Important Non-Banking Financial Company (NBFC) registered under the RBI. it is presently engaged in investment in Equity / Debt / Merchant Banking / IPO Funding / Advisory Services. It is also engaged in Broking Activities through its Wholly Owned Subsidiary Shriyam Broking Intermediary Ltd.[1][2]

Key Points

Service Offerings
The Co. is engaged in Investment in Equity, trading in Bonds, Mutual Funds, Govt Securities and Treasury Bills, Commercial Papers, Certificates of Deposits, Derivatives including Options and Futures. It is also engaged in IPO funding, Forex advisory services, Loan Syndications and Broking Services. [1]

  • Market Cap 177 Cr.
  • Current Price 101
  • High / Low 120 / 80.8
  • Stock P/E 62.0
  • Book Value 257
  • Dividend Yield 0.00 %
  • ROCE 2.92 %
  • ROE 2.23 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Stock is trading at 0.39 times its book value
  • Company's working capital requirements have reduced from 119 days to 62.4 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 1.82% 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

Sector: Finance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
7.17 3.68 -0.21 8.68 2.99 11.30 1.26 5.74 8.35 1.00 2.01 -0.69 10.32
0.59 0.75 15.92 0.52 0.55 0.72 1.37 0.52 0.72 2.41 0.70 4.52 0.79
Operating Profit 6.58 2.93 -16.13 8.16 2.44 10.58 -0.11 5.22 7.63 -1.41 1.31 -5.21 9.53
OPM % 91.77% 79.62% 94.01% 81.61% 93.63% -8.73% 90.94% 91.38% -141.00% 65.17% 92.34%
0.01 0.06 0.03 0.00 0.00 0.01 0.01 0.04 0.01 0.01 0.06 0.00 0.05
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.02 0.00
Depreciation 0.09 0.10 0.10 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09
Profit before tax 6.50 2.89 -16.20 8.07 2.35 10.50 -0.19 5.17 7.55 -1.49 1.22 -5.32 9.49
Tax % -2.77% 12.11% 17.65% 27.14% 27.23% 14.57% -431.58% 27.85% 18.01% 15.44% 21.31% 10.90% 16.75%
Net Profit 6.68 2.54 -13.33 5.88 1.71 8.97 -1.01 3.73 6.20 -1.26 0.96 -4.75 7.90
EPS in Rs 3.82 1.45 -7.62 3.36 0.98 5.13 -0.58 2.13 3.54 -0.72 0.55 -2.71 4.51
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
6.49 4.73 4.33 6.08 11.53 6.09 5.82 7.26 6.87 5.57 23.66 15.44 12.64
1.61 1.41 1.88 3.64 1.86 2.51 3.69 2.85 5.01 14.00 2.48 2.53 8.42
Operating Profit 4.88 3.32 2.45 2.44 9.67 3.58 2.13 4.41 1.86 -8.43 21.18 12.91 4.22
OPM % 75.19% 70.19% 56.58% 40.13% 83.87% 58.78% 36.60% 60.74% 27.07% -151.35% 89.52% 83.61% 33.39%
1.63 1.95 2.48 2.74 3.47 2.31 0.13 0.36 0.04 0.04 0.02 0.07 0.12
Interest 0.21 0.36 1.18 0.08 0.51 0.28 0.73 0.62 0.70 0.11 0.11 0.17 0.08
Depreciation 0.49 0.56 0.57 0.55 0.59 0.52 0.42 0.41 0.41 0.39 0.36 0.36 0.36
Profit before tax 5.81 4.35 3.18 4.55 12.04 5.09 1.11 3.74 0.79 -8.89 20.73 12.45 3.90
Tax % 19.28% 26.44% 13.84% 19.34% 16.94% 3.14% 38.74% 7.22% 50.63% 28.68% 24.99% 22.65%
Net Profit 13.39 8.55 7.93 13.45 10.01 4.93 0.68 3.47 0.39 -6.34 15.55 9.63 2.85
EPS in Rs 7.65 4.89 4.53 7.69 5.72 2.82 0.39 1.98 0.22 -3.62 8.89 5.50 1.63
Dividend Payout % 15.68% 12.28% 13.24% 9.11% 13.99% 21.30% 154.41% 30.26% 269.23% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 13%
5 Years: 22%
3 Years: 31%
TTM: -53%
Compounded Profit Growth
10 Years: 1%
5 Years: 70%
3 Years: 191%
TTM: -84%
Stock Price CAGR
10 Years: 9%
5 Years: 15%
3 Years: 34%
1 Year: -11%
Return on Equity
10 Years: 3%
5 Years: 2%
3 Years: 2%
Last Year: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
17.50 17.50 17.50 17.50 17.50 17.50 17.50 17.50 17.50 17.50 17.50 17.50 17.50
Reserves 130.58 137.91 144.79 156.80 121.20 124.87 124.29 127.76 286.32 238.02 371.04 458.78 431.65
0.00 0.00 7.79 0.00 0.00 0.00 11.15 0.00 0.00 0.00 0.00 0.00 0.00
8.29 5.53 6.04 5.15 6.94 6.91 24.11 5.09 10.04 3.48 23.72 48.56 27.72
Total Liabilities 156.37 160.94 176.12 179.45 145.64 149.28 177.05 150.35 313.86 259.00 412.26 524.84 476.87
13.00 22.44 22.42 21.98 20.83 20.45 20.06 19.66 17.55 17.17 16.83 16.52 16.35
CWIP 0.59 0.59 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 105.11 95.07 98.03 102.08 33.09 56.30 70.19 85.88 276.26 222.93 352.57 473.24 436.17
37.67 42.84 55.67 55.39 91.72 72.53 86.80 44.81 20.05 18.90 42.86 35.08 24.35
Total Assets 156.37 160.94 176.12 179.45 145.64 149.28 177.05 150.35 313.86 259.00 412.26 524.84 476.87

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
8.25 -10.10 -20.45 10.01 -37.72 4.74 31.29 -14.38 1.24 5.42 -9.70 8.29
-0.91 8.89 8.28 6.16 34.91 5.43 -22.15 5.00 2.14 -0.29 21.60 -22.50
-2.46 -0.90 7.57 -10.80 -2.18 -2.95 11.05 -12.41 -1.29 -1.27 -0.03 -0.04
Net Cash Flow 4.88 -2.11 -4.60 5.37 -4.99 7.22 20.20 -21.79 2.09 3.87 11.87 -14.25

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 73.67 52.47 90.20 10.81 24.06 835.48 223.89 56.31 12.22 13.11 0.00 2.84
Inventory Days
Days Payable
Cash Conversion Cycle 73.67 52.47 90.20 10.81 24.06 835.48 223.89 56.31 12.22 13.11 0.00 2.84
Working Capital Days 1,069.13 2,256.36 3,695.52 2,368.30 2,366.64 3,181.31 919.40 1,513.79 88.20 108.78 185.12 62.41
ROCE % 4.22% 3.10% 2.68% 2.69% 8.01% 3.82% 1.25% 2.92% 0.66% -3.14% 6.47% 2.92%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
74.84 74.84 74.84 74.84 74.84 74.84 74.84 74.84 74.84 74.84 74.84 74.84
25.16 25.16 25.16 25.16 25.16 25.16 25.16 25.16 25.16 25.16 25.16 25.16

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