Shardul Securities

₹180.5 -0.3 | 0.2%

WEBSITE BSE:512393 NSE : SHARDUL SECU 18 May, 12:50

Market Cap ₹316 Cr.

Stock P/E 4.1

P/B 0.6

Current Price ₹180.5

Book Value ₹ 319.1

Face Value 10

52W High ₹259.4

Dividend Yield 0%

52W Low ₹ 86.2

Edit Ratio

Shardul Securities Research see more...

Overview Inc. Year: 1985Industry: Finance - NBFC

Shardul Securities Ltd is a dynamic and reputable financial services firm with a strong presence in the investment and securities industry. Established on a foundation of integrity and expertise, Shardul Securities has earned a stellar reputation for providing top-tier financial solutions to a diverse clientele. Specializing in brokerage services, asset management, and financial advisory, Shardul Securities offers a comprehensive range of investment options tailored to individual and institutional needs. Their team of seasoned professionals leverages deep market insights and cutting-edge technology to deliver optimal investment strategies. Committed to transparency and client-centric values, Shardul Securities Ltd has consistently delivered outstanding results, making it a trusted partner for investors seeking to navigate the complexities of the financial markets. With a focus on innovation and client satisfaction, they continue to be a leading force in the finance sector.

Shardul Securities Share Price

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Peer Comparison

Shardul Securities Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Operating Revenue	8	1	2	-1	10	5	-4	30	30	59
Other Income	0	0	0	0	0	0	-0	0	0	0
Total Income	8	1	2	-1	10	5	-4	30	30	59
Total Expenditure	1	2	1	5	1	1	1	1	3	2
Operating Profit	8	-1	1	-5	10	4	-6	29	27	57
Interest Expense	0	0	0	0	0	0	-0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	8	-1	1	-5	9	4	-6	29	27	57
Provision for Tax	1	-0	0	-1	2	1	-1	6	9	16
Profit After Tax	6	-1	1	-5	8	4	-5	23	18	41
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	6	-1	1	-5	8	4	-5	23	18	41
Adjusted Earnings Per Share	3.5	-0.7	0.6	-2.7	4.5	2.1	-2.7	13.1	10.1	23.4

Shardul Securities Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Operating Revenue	5	8	11	2	10	6	7	5	25	15	7	115
Other Income	3	4	5	8	1	2	0	0	0	0	0	0
Total Income	8	12	16	10	11	8	7	6	25	16	7	115
Total Expenditure	3	7	3	4	8	3	5	14	3	3	3	7
Operating Profit	5	5	13	6	2	5	2	-8	21	13	3	107
Interest Expense	1	0	1	0	1	1	1	0	0	0	0	0
Depreciation	1	1	1	1	0	0	0	0	0	0	0	0
Profit Before Tax	3	5	12	5	1	4	1	-9	21	12	3	107
Provision for Tax	0	1	2	0	0	0	0	-3	5	3	1	30
Profit After Tax	3	4	10	5	1	3	0	-6	16	10	2	77
Adjustments	5	10	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	8	13	10	5	1	3	0	-6	16	10	2	77
Adjusted Earnings Per Share	4.5	7.7	5.7	2.8	0.4	2	0.2	-3.6	8.9	5.5	1.3	43.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-53%	12%	3%	3%
Operating Profit CAGR	-77%	0%	-10%	-5%
PAT CAGR	-80%	0%	-8%	-4%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	93%	51%	31%	15%
ROE Average	0%	3%	1%	2%
ROCE Average	1%	3%	1%	3%

Shardul Securities Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	162	174	139	142	142	145	304	256	389	476	446
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Current Liability	12	3	5	5	33	3	2	2	4	19	1
Other Liabilities & Provisions	2	2	2	2	2	2	8	2	20	29	24
Total Liabilities	176	179	146	149	177	150	314	259	412	525	471
Loans	0	0	0	0	0	0	0	0	0	0	0
Investments	98	102	33	56	70	86	236	208	335	451	406
Fixed Assets	22	22	21	20	20	20	18	17	12	4	4
Other Loans	5	5	9	4	20	3	4	3	3	21	7
Other Non Current Assets	0	0	0	0	0	0	0	0	0	0	0
Current Assets	50	51	83	68	67	41	56	30	58	36	41
Total Assets	176	179	146	149	177	150	314	259	412	525	471

Shardul Securities Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	7	3	8	3	10	30	5	7	11	22	8
Cash Flow from Operating Activities	-20	10	-38	5	31	-14	1	5	-10	8	-18
Cash Flow from Investing Activities	9	6	35	5	-22	5	2	-0	22	-23	18
Cash Flow from Financing Activities	8	-11	-2	-3	11	-12	-1	-1	-0	-0	-0
Net Cash Inflow / Outflow	-4	5	-5	7	20	-22	2	4	12	-14	-1
Closing Cash & Cash Equivalent	3	8	3	10	30	9	7	11	22	8	8

Shardul Securities Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	4.53	7.68	5.72	2.82	0.39	1.98	0.22	-3.62	8.88	5.5	1.26
CEPS(Rs)	1.89	2.41	6.06	3.12	0.63	2.22	0.45	-3.4	9.09	5.71	1.47
DPS(Rs)	0.6	0.7	0.8	0.6	0.6	0.6	0.6	0	0	0	0
Book NAV/Share(Rs)	92.74	99.61	79.26	81.36	81.03	83.01	173.63	146.02	222.04	272.18	254.7
Net Profit Margin	57.89	45.6	94.85	242	6.95	57.38	5.62	-115.3	63.33	62.58	33.34
Operating Margin	92.08	57.42	118.98	263.74	20.2	74.31	21.68	-161.57	84.43	81.26	43.45
PBT Margin	67.13	56.44	114.14	250.03	11.36	61.88	11.47	-161.59	84.43	80.87	43.21
ROA(%)	1.63	2.07	6.16	3.35	0.42	2.12	0.17	-2.21	4.63	2.06	0.44
ROE(%)	1.72	2.18	6.4	3.51	0.48	2.42	0.17	-2.27	4.83	2.23	0.48
ROCE(%)	2.68	2.69	8.02	3.83	1.35	3.01	0.66	-3.18	6.44	2.89	0.62
Price/Earnings(x)	8.08	4.24	7.52	14.84	112.76	21.65	243.8	0	5.57	17.17	76.51
Price/Book(x)	0.39	0.33	0.54	0.51	0.54	0.52	0.31	0.31	0.22	0.35	0.38
Dividend Yield(%)	1.64	2.15	1.86	1.43	1.36	1.4	1.11	0	0	0	0
EV/Net Sales(x)	14.63	6.08	6.85	30.91	5.88	10.99	12.15	11.7	2.45	9.93	22.64
EV/Core EBITDA(x)	14.04	9.47	5.5	10.69	24.09	13.55	43.98	-7.57	2.85	11.88	46.17
Interest Earned Growth(%)	-14.19	70.18	31.05	-80.68	382.87	-38.61	13.71	-20.02	346.65	-37.31	-56.98
Net Profit Growth	-14.59	34.05	172.62	-50.71	-86.13	406.72	-88.86	-1739.61	345.32	-38.06	-77.08
EPS Growth(%)	-7.29	69.67	-25.56	-50.71	-86.13	406.75	-88.86	-1739.6	345.32	-38.06	-77.08
Interest Coverage(x) %	3.69	58.53	24.6	19.24	2.28	5.98	2.12	-5920.07	8636.75	208.08	179.79

Shardul Securities Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	74.84	74.84	74.84	74.84	74.84	74.84	74.84	74.84	74.84	74.84
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	25.16	25.16	25.16	25.16	25.16	25.16	25.16	25.16	25.16	25.16
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.31	1.31	1.31	1.31	1.31	1.31	1.31	1.31	1.31	1.31
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0	0	0
Public	0.44	0.44	0.44	0.44	0.44	0.44	0.44	0.44	0.44	0.44
Others	0	0	0	0	0	0	0	0	0	0
Total	1.75	1.75	1.75	1.75	1.75	1.75	1.75	1.75	1.75	1.75

Pros

Stock is trading at 0.6 times its book value
Company is almost debt free.

Cons

Company has a low return on equity of 3% over the last 3 years.
The company has delivered a poor profit growth of -7% over past five 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.