Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · SHARDUL SECURITIES LTD. · 9 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
SHARDUL SECURITIES LTD.
NSE: SHARDUL · BSE: 512393
NSE: SHARDUL · BSE: 512393
Financial Services › Financial Services › Capital Markets › Stockbroking & Allied
SHARDUL SECURITIES LTD.
StateQ4 FY26 filed
Last close · 8 Oct 2026₹58.00
Market cap₹0.5k cr
TTM P/E · P/B · EV/EBITDA— · 0.77 · —
SHARDUL SECURITIES LTD. is a Capital Markets company listed on NSE. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 15 | 7 | 173 | 63 | 16 |
| EBITDA (ex other income) | 13 | 3 | 163 | 46 | (48) |
| margin % | 82.8 | 48.7 | 94.1 | 74.1 | (301.6) |
| Owners' profit | 10 | 2 | 98 | 33 | (49) |
| EPS, as reported (₹) | 5.50 | 1.26 | 55.90 | 3.77 | (5.62) |
| ROE % · ROCE % | 2.0 · — | 0.5 · — | 14.6 · — | 4.7 · — | (7.5) · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 8 | (18) | 20 | (41) | (23) |
| Capex | (0) | (0) | (0) | (1) | (1) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · SHARDUL SECURITIES LTD. · 9 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 140 | 40 | (33) | (85) | 94 | (39) | (13) | 5 |
| Profit before tax | 136 | 36 | (38) | (89) | 88 | (48) | (22) | (82) |
| Net profit | 114 | 29 | (40) | (70) | 70 | (39) | (17) | (64) |
| EPS (₹) | 65.08 | 16.43 | (22.82) | (7.97) | 8.04 | (4.40) | (1.97) | (7.29) |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BILLIONBRAINS GARAGE VN L | 1,20,584 | 48.5 | 12.49 | 41.0 | 21.6 | 28.9 | — | 67.8 |
| MOTILAL OSWAL FIN LTD | 61,076 | 30.8 | 4.72 | — | 14.5 | — | 20.9 | 57.7 |
| 360 ONE WAM LIMITED | 42,342 | 33.4 | 4.30 | — | 12.4 | — | 22.0 | 66.8 |
| NUVAMA WEALTH MANAGE LTD | 31,652 | 14.9 | 7.68 | — | 25.2 | — | — | 53.0 |
| ANGEL ONE LIMITED | 26,949 | 5.0 | 4.38 | — | 14.9 | — | 32.4 | 34.2 |
| IIFL CAPITAL SERVICES LTD | 10,786 | 18.7 | 3.51 | — | 18.4 | — | 25.1 | 50.0 |
| SHARE IND. SECURITIES LTD | 4,081 | 11.2 | 1.54 | — | 12.2 | — | 26.8 | 45.5 |
| ANAND RATHI SH N STK BR L | 3,375 | 21.2 | 2.50 | 10.8 | 9.6 | 11.5 | — | 31.2 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.8 | 1.8 | 4 of 40 | 92% |
| ROE | (7.5) | 9.6 | 38 of 40 | 5% |
| EBITDA margin | (1662.8) | 31.2 | 38 of 39 | 3% |
| Profit growth | 8.5 | 13.4 | 22 of 38 | 43% |
| Market cap | 507 | 504 | 21 of 42 | 51% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · SHARDUL SECURITIES LTD. · 9 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Reg 74(5) SEBI DP Certificate for quarter ended Sept 2026 | compliance | minimal | — | — |
| 1 Oct 2026 · Shardul Securities AGM approves buyback at Rs 60 per share | corporate actions | high | — | — |
| 1 Oct 2026 · Shardul Securities announces Rs 115.20 crore equity share buyback at Rs 60 | compliance | minimal | — | — |
| 1 Oct 2026 · Shardul Securities announces Rs 115.20 crore share buyback at Rs 60 per share | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window Closure for Insiders from October 1, 2026 | compliance | minimal | — | — |
| 30 Sept 2026 · Buyback record date fixed at October 8, 2026 | corporate actions | high | — | — |
| 29 Sept 2026 · AGM results: all 3 resolutions passed including buyback approval | board shareholder meetings | low | — | — |
| 25 Sept 2026 · 41st AGM held on Sept 25; buyback of equity shares approved among 3 resolutions | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Shardul Securities 41st AGM on 25 Sept 2026 via video conferencing, e-voting details | compliance | minimal | — | — |
| 2 Sept 2026 · Book Closure for 41st AGM from Sep 19 to Sep 24, 2026 | board shareholder meetings | low | — | — |
Source: exchange announcements; reaction = close-to-close from the filing's session.
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in