Shardul Securities (SHARDUL) had a P/E of 14.5× on 6 Nov 2026, below the industry P/E of 18.4×, and the shares are 20% below their 52-week high. Its ROCE of −5.2% is the lowest among the 7 largest Capital Markets peers. Debt is 0.59× equity. It is a small-cap company with a market cap of ₹326 Cr, ranked 51st of 219 Capital Markets companies by market cap; the shares rose 65% over the past year.
- ₹47.25
- ₹47.80
- ₹47.25
- ₹49.00
- 891
Health check
- ReturnsAhead
+65.3% over a year, better than 7 of 7 peers.
- Price tagCheaper
P/E 14.5 vs industry 18.4.
- Growthn/a
Not enough yearly results to measure.
- ProfitabilityNegative
ROCE -5.2% vs peer median 22.1%.
- Balance sheetStretched
Debt 0.59× equity, operating profit doesn’t cover interest, Piotroski 3 of 9.
- Red flags2 to check
Return on equity is low at 3.8%.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹326 Cr
- Small cap
- P/E
- 14.5
- Industry 18.4
- Price to book
- 0.54
- Peers 4.53
- Dividend yield
- 0.00%
- ROE
- 3.8%
- Peers 18.9%
- ROCE
- −5.2%
- Peers 22.1%
- Debt to equity
- 0.59
- Debt ₹454 Cr
- EPS (TTM)
- ₹3.30
- Face value ₹2
- OPM (TTM)
- 294.2%
- Net margin 29.9%
- Sales growth
- +91.4%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 3.38
Strengths and risks
Strengths
- Quarterly sales up 91.4% on a year ago.
- Net margin of 29.9%.
Risks to check
- Return on equity is low at 3.8%.
- Interest coverage of only −3.4×.
About Shardul Securities
Shardul Securities Limited, a non-banking financial company, engages in the investment and financing business in India. The company invests in equity; and trades in bonds, mutual funds, government securities and treasury bills, commercial papers, and certificates of deposit, as well as derivatives, including options and futures. It also provides IPO funding, forex advisory, and loan syndications services. The company was formerly known as Shriyam…
- Headquarters
- Mumbai
- Employees
- 10
- Sector
- Financial Services
- ISIN
- INE037B01020
- Website
- shardulsecurities.com
Price range
- Avg volume (3M)
- 16.1K
- 1-year return
- plus 65.3%
- From 52-week high
- minus 20.4%
Peers · Capital Markets
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GROWWBillionbrains Garage Ventures | 215.08 | minus 3.93% | 1,33,585 | 50.3 | 13.78 | 29.3% | 21.6% | 62.9% | – | – | 0.00% | plus 63.8% |
| MOTILALOFSMotilal Oswal Financial Services | 1,102.00 | plus 0.64% | 66,448 | 25.0 | 4.27 | 18.1% | 18.9% | 52.4% | 29.0% | 26.1% | 0.54% | plus 11.1% |
| AIILAuthum Investment & Infrastructure | 570.05 | plus 0.08% | 48,410 | 27.6 | 3.29 | 15.2% | 13.1% | 74.0% | 44.4% | −23.5% | 0.00% | minus 0.7% |
| ANGELONEAngel One | 331.00 | plus 1.49% | 30,290 | 26.8 | 4.53 | 26.9% | 18.4% | 39.7% | 20.3% | 0.9% | 1.95% | plus 29.5% |
| CDSLCentral Depository Services (India) | 1,331.40 | minus 0.19% | 27,826 | 55.1 | 14.03 | 29.7% | 26.4% | 51.3% | 27.3% | 18.2% | 0.96% | minus 13.3% |
| CHOICEINChoice International | 748.20 | minus 0.09% | 16,668 | 62.9 | 8.90 | 17.6% | 15.8% | 35.3% | 42.2% | 53.6% | 0.00% | minus 7.4% |
| IIFLCAPSIIFL Capital Services | 349.80 | plus 0.13% | 13,036 | 18.8 | 3.15 | 22.1% | 19.5% | 36.1% | 19.9% | 30.9% | 0.86% | plus 4.1% |
| SHARDULShardul Securities | 47.77 | minus 2.51% | 326 | 14.5 | 0.54 | −5.2% | 3.8% | 113.3% | – | – | 0.00% | plus 65.3% |
| Median of 7 peers | – | 0.08% | 30,290 | 27.6 | 4.53 | 22.1% | 18.9% | 51.3% | 28.2% | 22.2% | 0.54% | 4.1% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 4.6 | 2.6 | 4.2 | 4.7 | 8.7 | |
| 49.5 | 19.8 | 80.9 | −180 | 39.9 | |
| −44.9 | −17.3 | −76.7 | 185 | −31.2 | |
| −987.6% | −677.1% | −1807.4% | 3918.3% | −358.5% | |
| 0.6 | 0.3 | 0.3 | 0.5 | 0.3 | |
| 3.8 | 4.9 | 5.4 | 7.8 | 9.5 | |
| 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | |
| −48.3 | −21.9 | −81.8 | 177 | −40.6 | |
| 20.2% | 21.3% | 22.1% | 19.5% | 19.2% | |
| −38.5 | −17.3 | −63.7 | 143 | −32.8 | |
| -4.40 | -1.97 | -7.29 | 16.31 | -3.75 |
Profit & loss
- ROE
- 3.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1.3 | 101 | −6.8 | 40.3 | |
| −2.8 | −60.5 | −50.2 | 92.2 | |
| 1.5 | 162 | 43.4 | −51.9 | |
| −114.9% | 159.9% | −641.0% | −128.8% | |
| 1.7 | 1.1 | 3 | 3.7 | |
| 0 | 0.4 | 1.2 | 15.3 | |
| 0.4 | 0.4 | 0.4 | 0.6 | |
| −0 | 0.8 | 0 | – | |
| 2.9 | 163 | 44.8 | −64.1 | |
| 22.8% | 39.9% | 26.3% | 23.3% | |
| 2.2 | 97.8 | 33 | −49.1 | |
| – | +4331.6% | minus 66.3% | minus 248.9% | |
| 0.25 | 11.18 | 3.77 | -5.62 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 17.5 | 17.5 | 17.5 | 17.5 | |
| 428 | 654 | 686 | 640 | |
| – | 9.9 | 23.2 | 274 | |
| 25.1 | 15.6 | 11.3 | 2.5 | |
| 471 | 697 | 738 | 934 | |
| 3.9 | 3.7 | 3.9 | 6.6 | |
| – | – | – | 1.5 | |
| 75.3 | 629 | 664 | 821 | |
| 371 | 35.2 | 24.3 | 34.1 | |
| 21.1 | 28.9 | 46.6 | 70.8 | |
| 471 | 697 | 738 | 934 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −18.3 | 21.3 | −39.8 | −22.7 | |
| 17.8 | −24 | 16.8 | −209 | |
| −0 | 9.9 | 12.1 | 236 | |
| −0.6 | 7.2 | −10.9 | 4.1 | |
| −0.2 | −2 | −0.6 | −3 | |
| −18.4 | 19.4 | −40.3 | −25.7 | |
| −0 | −0 | – | – |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.