Shardul Securities Ltd

SHRIYAMSEC

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Market Cap

₹ 307 Cr

P/E

—

Turned 1 L into 4.06 L in last 5 Years

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Shardul Securities Ltd. is primarily involved in investment banking, focusing on equity, debt investments, merchant banking, and brokerage services.

The company transitioned from lending to investment banking, acquiring SEBI registration as a category-I merchant banker as early as 1993.

Shardul Securities is an NSE member through its subsidiary, Shriyam Broking Intermediary, enhancing its capabilities in the debt and capital market segments.

The company has strategic investments, having acquired a significant stake in Antique Stock Broking Ltd., showcasing its presence in the financial sector.

Shardul Securities expanded into commodity trading by establishing Shardul Commodities International Limited, indicating diversification into various financial services.

Sector

Finance

Industry

NBFC-Others

Market Cap

307 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

34.5

PEG Ratio

—

P/B Ratio

0.4

52W High

92.85

52W Low

32.80

Sales CAGR

-63.86%

54.75%

61.89%

10Y

59.13%

Profit CAGR

-66.27%

40.06%

—

10Y

18.05%

ROE

TTM

-10.57%

7.30%

5.89%

10Y

4.39%

ROCE

TTM

-8.85%

11.16%

8.72%

10Y

6.53%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SAHLIBHFI	99.95	309 Cr	16.71	1.89	0.10	11.33	13.59	8.92
SHRIYAMSEC	36.00	307 Cr	—	0.42	0.00	-10.57	-8.85	-8.29
AFIL	7.00	299 Cr	8.24	0.74	0.00	8.99	11.97	4.55
NDGL	2947.50	295 Cr	10.25	0.23	0.08	2.37	4.09	2.50
VAARAD	11.00	275 Cr	—	12.42	0.00	-0.79	-0.67	-0.60
STARTECK	274.95	272 Cr	16.18	1.07	0.09	6.27	7.27	2.76
SERA	40.74	267 Cr	—	0.66	0.00	-0.56	-0.34	-0.47

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	30	30	59	54	140	40	-33	-85	94	-39
Expenses	1.36	2.71	1.86	4.26	3.47	4.27	4.66	3.83	4.70	5.05
Interest	0.00	0.00	0.15	0.23	0.22	0.21	0.23	0.52	1.34	3.78
Financing Profit	29	27	57	49	136	36	-38	-89	88	-48
Financing Margin %	95.53	90.92	96.60	91.61	97.37	88.83	114.87	105.13	93.58	122.46
Other Income	0.01	0.00	0.01	0.78	0.00	0.00	0.00	0.02	0.00	0.00
Depreciation	0.10	0.10	0.10	0.10	0.11	0.11	0.11	0.12	0.13	0.13
Profit Before Tax	29	27	57	50	136	36	-38	-89	88	-48
Tax %	20.70	34.42	28.10	67.58	16.51	19.06	-5.41	21.89	20.00	20.24
Net Profit	23	18	41	16	114	29	-40	-70	70	-39
EPS in Rs	2.63	2.03	4.68	1.84	13.02	3.29	-4.56	-7.97	8.04	-4.40
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	5.24	6.04	6.87	5.50	24	15	13	173	63	17
Expenses	3.69	2.85	5.12	14	2.59	2.64	10	10	16	17
Interest	0.73	0.62	0.59	0.00	0.00	0.06	0.02	0.38	1.18	2.30
Financing Profit	0.82	2.58	1.16	-8.61	21	13	3.21	162	45	-3.16
Financing Margin %	15.71	42.66	16.89	-156.56	89.05	82.45	24.06	93.89	72.19	-19.04
Other Income	0.71	1.57	0.04	0.11	0.02	0.12	0.02	0.80	0.02	NaN
Depreciation	0.42	0.41	0.41	0.39	0.36	0.36	0.37	0.39	0.44	0.47
Profit Before Tax	1.12	3.74	0.79	-8.88	21	12	2.86	163	45	-3.61
Tax %	38.78	7.27	50.97	28.65	24.99	22.62	22.84	39.90	26.35	-191.41
Net Profit	0.68	3.47	0.39	-6.34	16	9.63	2.21	98	33	-11
EPS in Rs	—	—	0.04	-0.73	1.78	1.10	0.25	11.18	3.77	-8.89
Dividend Payout %	153.85	30.30	272.73	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	17	17	17	17	17	17	17	17	17	17
Reserves	125	124	128	286	238	371	459	428	654	686
Borrowings	0.00	11	0.00	0.00	0.00	0.00	0.00	0.00	9.89	23
Other Liabilities	6.91	24	5.09	10	3.48	24	49	25	16	11
Total Liabilities	149	177	150	314	259	412	525	471	697	738
Fixed Assets	20	20	20	13	13	12	3.85	3.90	3.69	3.91
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	276	223	353	473	427	649	682
Other Assets	129	157	131	25	23	47	48	40	44	53
Total Assets	149	177	150	314	259	412	525	471	697	738

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	4.65	31	-14	1.24	5.42	-9.70	8.29	-18	20	-36
Cash from Investing Activity	5.43	-22	5.00	2.14	-0.29	22	-23	18	-23	12
Cash from Financing Activity	-2.86	11	-12	-1.29	-1.27	-0.03	-0.04	-0.05	9.85	13
Net Cash Flow	7.22	20	-22	2.09	3.87	12	-14	-0.56	7.20	-11

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.84%	74.85%	74.85%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.24%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	25.16%	25.16%	25.16%	25.16%	25.16%	25.16%	25.16%	25.16%	25.16%	25.16%	25.15%	24.90%
Total Shareholders	6,258	6,197	5,879	5,887	5,901	6,274	6,120	6,507	6,589	7,793	7,671	7,405

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jun 12, 2025	Babita chaturvedi	Insider - Promoter	Acquisition	43.81	0.06 Cr	13,837	0.01
Jun 12, 2025	Babita chaturvedi	Insider - Promoter	Acquisition	44.55	0.02 Cr	5,000	0.00
Jun 12, 2025	Babita chaturvedi	Insider - Promoter	Disposal	45.69	0.04 Cr	8,910	0.01
Oct 04, 2024	Pradeep sandeep corporate ad...	Insider - Promoter Group	Disposal	—	—	4,74,500	2.70
Oct 04, 2024	Shruti chaturvedi	Insider - Promoter	Acquisition	—	—	4,74,500	2.70
Oct 04, 2024	Pradeep sandeep corporate ad...	Insider - Promoter Group	Disposal	—	—	4,74,500	2.70
Oct 04, 2024	Shruti chaturvedi	Insider - Promoter	Acquisition	—	—	4,74,500	2.70
Sep 06, 2024	Raghav chaturvedi	Insider - Promoter	Acquisition	—	—	1,16,817	0.66
Sep 06, 2024	Dinanath chaturvedi	Insider - Promoter	Disposal	—	—	3,50,450	2
Sep 06, 2024	Shruti chaturvedi	Insider - Promoter	Acquisition	—	—	1,16,817	0.66

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	30	30	59	54	140	40	-33	-85	94	-39
Expenses	1.36	2.71	1.86	4.26	3.47	4.27	4.66	3.83	4.70	5.05
Interest	0.00	0.00	0.15	0.23	0.22	0.21	0.23	0.52	1.34	3.78
Financing Profit	29	27	57	49	136	36	-38	-89	88	-48
Financing Margin %	95.53	90.92	96.60	91.61	97.37	88.83	114.87	105.13	93.58	122.46
Other Income	0.01	0.00	0.01	0.78	0.00	0.00	0.00	0.02	0.00	0.00
Depreciation	0.10	0.10	0.10	0.10	0.11	0.11	0.11	0.12	0.13	0.13
Profit Before Tax	29	27	57	50	136	36	-38	-89	88	-48
Tax %	20.70	34.42	28.10	67.58	16.51	19.06	-5.41	21.89	20.00	20.24
Net Profit	23	18	41	16	114	29	-40	-70	70	-39
EPS in Rs	2.63	2.03	4.68	1.84	13.02	3.29	-4.56	-7.97	8.04	-4.40
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	5.24	6.04	6.87	5.50	24	15	13	173	63	17
Expenses	3.69	2.85	5.12	14	2.59	2.64	10	10	16	17
Interest	0.73	0.62	0.59	0.00	0.00	0.06	0.02	0.38	1.18	2.30
Financing Profit	0.82	2.58	1.16	-8.61	21	13	3.21	162	45	-3.16
Financing Margin %	15.71	42.66	16.89	-156.56	89.05	82.45	24.06	93.89	72.19	-19.04
Other Income	0.71	1.57	0.04	0.11	0.02	0.12	0.02	0.80	0.02	NaN
Depreciation	0.42	0.41	0.41	0.39	0.36	0.36	0.37	0.39	0.44	0.47
Profit Before Tax	1.12	3.74	0.79	-8.88	21	12	2.86	163	45	-3.61
Tax %	38.78	7.27	50.97	28.65	24.99	22.62	22.84	39.90	26.35	-191.41
Net Profit	0.68	3.47	0.39	-6.34	16	9.63	2.21	98	33	-11
EPS in Rs	—	—	0.04	-0.73	1.78	1.10	0.25	11.18	3.77	-8.89
Dividend Payout %	153.85	30.30	272.73	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	17	17	17	17	17	17	17	17	17	17
Reserves	125	124	128	286	238	371	459	428	654	686
Borrowings	0.00	11	0.00	0.00	0.00	0.00	0.00	0.00	9.89	23
Other Liabilities	6.91	24	5.09	10	3.48	24	49	25	16	11
Total Liabilities	149	177	150	314	259	412	525	471	697	738
Fixed Assets	20	20	20	13	13	12	3.85	3.90	3.69	3.91
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	276	223	353	473	427	649	682
Other Assets	129	157	131	25	23	47	48	40	44	53
Total Assets	149	177	150	314	259	412	525	471	697	738

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	4.65	31	-14	1.24	5.42	-9.70	8.29	-18	20	-36
Cash from Investing Activity	5.43	-22	5.00	2.14	-0.29	22	-23	18	-23	12
Cash from Financing Activity	-2.86	11	-12	-1.29	-1.27	-0.03	-0.04	-0.05	9.85	13
Net Cash Flow	7.22	20	-22	2.09	3.87	12	-14	-0.56	7.20	-11

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SAHLIBHFI	99.95	309 Cr	16.71	1.89	0.10	11.33	13.59	8.92
SHRIYAMSEC	36.00	307 Cr	—	0.42	0.00	-10.57	-8.85	-8.29
AFIL	7.00	299 Cr	8.24	0.74	0.00	8.99	11.97	4.55
NDGL	2947.50	295 Cr	10.25	0.23	0.08	2.37	4.09	2.50
VAARAD	11.00	275 Cr	—	12.42	0.00	-0.79	-0.67	-0.60
STARTECK	274.95	272 Cr	16.18	1.07	0.09	6.27	7.27	2.76
SERA	40.74	267 Cr	—	0.66	0.00	-0.56	-0.34	-0.47

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Shardul Securities Ltd. is primarily involved in investment banking, focusing on equity, debt investments, merchant banking, and brokerage services.

The company transitioned from lending to investment banking, acquiring SEBI registration as a category-I merchant banker as early as 1993.

Shardul Securities is an NSE member through its subsidiary, Shriyam Broking Intermediary, enhancing its capabilities in the debt and capital market segments.

The company has strategic investments, having acquired a significant stake in Antique Stock Broking Ltd., showcasing its presence in the financial sector.

Shardul Securities expanded into commodity trading by establishing Shardul Commodities International Limited, indicating diversification into various financial services.

Sector

Finance

Industry

NBFC-Others

Market Cap

307 Cr

Volatility

Low Risk

P/E Ratio

—

Industry P/E

34.5

PEG Ratio

—

P/B Ratio

0.4

52W High

92.85

52W Low

32.80

Sales CAGR

-63.86%

54.75%

61.89%

10Y

59.13%

Profit CAGR

-66.27%

40.06%

—

10Y

18.05%

ROE

TTM

-10.57%

7.30%

5.89%

10Y

4.39%

ROCE

TTM

-8.85%

11.16%

8.72%

10Y

6.53%