Is Shardul Sec. overvalued or undervalued?

As of 10 October 2025, the valuation grade for Shardul Sec. has moved from risky to fair, indicating a more stable outlook for the company. Based on the analysis, Shardul Sec. appears to be undervalued. The company's PE ratio stands at -40.77, with an EV to EBITDA of -430.28 and a Price to Book Value of 0.61, which suggests significant discrepancies in its valuation metrics compared to its peers.
In comparison to notable peers, Bajaj Finance has a PE ratio of 36.56 and EV to EBITDA of 19.67, while Life Insurance shows a more attractive valuation with a PE of 11.65 and EV to EBITDA of 9.08. These ratios highlight that Shardul Sec. is trading at a much lower valuation relative to its industry counterparts. Additionally, the company's recent stock performance has been underwhelming, with a year-to-date return of -43.22%, contrasting sharply with the Sensex's gain of 5.58% during the same period.