Shardul Securities Limited SHARDUL NSEFINANCIAL

Financial Services · Capital Markets · India

https://www.shardulsecurities.com

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, as well as brokerage services. The company was formerly known as Shriyam Securities & Finance Limited. The company was incorporated in 1985 and is based in Mumbai, India.

Market & Price

Market Cap

Current Price

₹28.25

High / Low (52W)

₹31.18 / ₹26.57

Beta

0.81

Valuation

Stock P/E

Industry PE

19.12

Forward P/E

PEG Ratio

Book Value

₹84.09

Price to Book

0.34

P/S

EV/EBITDA

Dividend Yield

Profitability & Returns

ROCE

6.24%

ROE

ROA

Profit Margin

0.00%

Op Margin

EPS (Latest Qtr)

₹-1.97

EPS (TTM)

₹-6.30

Balance Sheet & Liquidity

Debt/Equity

0.25

Quick Ratio

Current Ratio

Debt

₹184.82 Cr

Total Assets

₹738.40 Cr

Current Assets

₹58.70 Cr

Working Capital

₹57.17 Cr

Ownership

Promoter Holding

73.14%

Chg in Prom Hold

FII / Inst Holding

0.00%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹370.24 Cr

Total Revenue (TTM)

₹-53.52 Cr

EBITDA

Free Cash Flow

Operating Cash Flow

Shares Outstanding

Gross Margin

0.00%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

-71.55%

Profit 5Y

50.75%

Revenue (YoY)

Earnings (YoY)

PROS

Profit CAGR of 50.8% over 5 years.

CONS

Revenue declined at -71.5% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Financial Services).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	SHARDUL Shardul Securities Limited NSEFINANCIAL	28.25	-	-	-	6.24%	-	-71.55%	50.75%
2	HDFCBANK HDFC Bank Limited NIFTY50NSEAIFINANCIAL	744.55	16.61	₹11.46 L Cr	1.75%	-	13.82%	32.50%	20.39%
3	ICICIBANK ICICI Bank Limited NIFTY50NSEAIFINANCIAL	1,256.40	16.81	₹9.01 L Cr	0.88%	-	16.36%	19.65%	16.78%
4	SBIN State Bank of India NIFTY50NSEAIFINANCIALPSU	964.40	10.58	₹8.90 L Cr	1.80%	-	15.48%	12.19%	14.39%
5	KOTAKBANK Kotak Mahindra Bank Limited NIFTY50NSEAIFINANCIAL	384.20	19.80	₹3.82 L Cr	0.13%	-	11.39%	14.58%	8.92%
6	LICI Life Insurance Corporation of India NIFTY_MIDNSEFINANCIALPSU	411.35	9.06	₹2.60 L Cr	2.43%	-	42.36%	7.61%	16.86%
7	SHRIRAMFIN Shriram Finance Limited NIFTY50NSEFINANCIAL	947.15	17.79	₹2.23 L Cr	1.46%	-	16.38%	15.48%	18.59%
8	SBILIFE SBI Life Insurance Company Limited NIFTY50NSEFINANCIAL	1,830.10	74.06	₹1.84 L Cr	0.15%	-	13.70%	11.67%	12.81%
9	ICICIAMC ICICI PRUDENTIAL AMC LTD NIFTY_MIDNSEFINANCIAL	3,538.50	53.19	₹1.75 L Cr	0.70%	98.30%	85.80%	28.94%	29.58%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	-	2.06 Cr	-49.17 Cr	43.78 Cr	4.55 Cr	2.55 Cr
Cost of Revenue	-	68.09 L	1.39 Cr	52.67 L	45.83 L	80.30 L
Gross Profit	-	1.38 Cr	-50.57 Cr	43.25 Cr	4.09 Cr	1.75 Cr
Operating Expenses	-	39.61 Cr	35.71 Cr	-45.49 Cr	49.16 Cr	19.17 Cr
Operating Income	-	-38.23 Cr	-86.27 Cr	88.74 Cr	-45.07 Cr	-17.42 Cr
EBITDA	-	-37.55 Cr	-88.58 Cr	89.44 Cr	-44.37 Cr	-16.93 Cr
Interest Expense	-	22.86 L	52.07 L	1.34 Cr	3.78 Cr	4.86 Cr
Pretax Income	-	-37.89 Cr	-89.22 Cr	87.98 Cr	-48.27 Cr	-21.93 Cr
Tax Provision	-	2.05 Cr	-19.53 Cr	17.60 Cr	-9.77 Cr	-4.67 Cr
Net Income	-	-39.94 Cr	-69.70 Cr	70.37 Cr	-38.50 Cr	-17.26 Cr
Diluted EPS	3.29	-4.56	-	8.04	-4.40	-1.97

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	5.91 Cr	-1.32 Cr	101.12 Cr	-6.77 Cr
Cost of Revenue	1.39 Cr	1.38 Cr	4.20 Cr	5.94 Cr
Gross Profit	4.52 Cr	-2.70 Cr	96.92 Cr	-12.71 Cr
Operating Expenses	-5.93 Cr	-3.85 Cr	-64.36 Cr	-59.40 Cr
Operating Income	10.45 Cr	1.14 Cr	161.28 Cr	46.68 Cr
EBITDA	12.87 Cr	3.24 Cr	163.51 Cr	46.41 Cr
Interest Expense	5.84 L	1.50 L	37.67 L	1.18 Cr
Pretax Income	12.45 Cr	2.86 Cr	162.74 Cr	44.79 Cr
Tax Provision	2.82 Cr	65.35 L	64.93 Cr	11.80 Cr
Net Income	9.63 Cr	2.21 Cr	97.81 Cr	32.99 Cr
Diluted EPS	1.10	0.25	11.18	3.77

Compounded Sales Growth

5 Years:	-71.55%
1 Year:	-

Compounded Profit Growth

5 Years:	50.75%
1 Year:	-

Stock Price Performance

1 Year:	-2.25%
6 Months:	-
3 Months:	-
1 Month:	-1.22%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	524.84 Cr	470.81 Cr	696.71 Cr	738.40 Cr
Current Assets	446.34 Cr	379.24 Cr	51.98 Cr	58.70 Cr
Cash & Equivalents	8.15 Cr	7.59 Cr	14.79 Cr	3.91 Cr
Inventory	0	-	-	-
Receivables	27.79 L	5.28 L	33.79 L	70.42 L
Total Liabilities	48.57 Cr	25.13 Cr	25.53 Cr	34.42 Cr
Current Liabilities	1.39 Cr	67.97 L	2.14 Cr	1.54 Cr
Long Term Debt	-	0	9.89 Cr	23.16 Cr
Total Debt	-	0	9.89 Cr	23.16 Cr
Total Equity	476.28 Cr	445.69 Cr	671.18 Cr	703.98 Cr
Shares Outstanding	8.75 Cr	8.75 Cr	8.75 Cr	8.75 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	8.29 Cr	-18.28 Cr	21.32 Cr	-35.95 Cr
Investing Cash Flow	-22.50 Cr	17.76 Cr	-24.01 Cr	11.80 Cr
Financing Cash Flow	-4.10 L	-4.63 L	9.89 Cr	13.27 Cr
Capital Expenditure	-6.40 L	-17.07 L	-1.96 Cr	-5.68 Cr
Free Cash Flow	8.23 Cr	-18.45 Cr	19.36 Cr	-41.63 Cr
Net Change in Cash	-14.25 Cr	-56.08 L	7.20 Cr	-10.88 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	76.5%	205.0%	95.8%	187.7%
Operating Margin %	176.9%	-86.9%	159.5%	-689.2%
Net Margin %	163.0%	-167.5%	96.7%	-487.1%
ROE %	2.0%	0.5%	14.6%	4.7%
ROCE %	2.0%	0.2%	23.2%	6.3%

Shareholding Pattern

Insiders

73.14%

Institutions

0.00%

Public Float

0.00%

Analyst View

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SHARDUL · Financial Services