Is Shardul Sec. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Shardul Securities has moved from risky to fair. Based on the analysis, the company appears to be undervalued. Key ratios include a PE ratio of -40.59, an EV to EBITDA of -428.44, and a Price to Book Value of 0.61. These figures suggest that the company is trading at a significant discount relative to its earnings and book value.
In comparison with peers, Bajaj Finance has a PE ratio of 38.21, indicating it is very expensive, while Life Insurance shows a more attractive PE of 11.49. Shardul Securities' current valuation metrics highlight its potential for recovery, especially considering its recent stock performance, which has been underwhelming compared to the Sensex, with a year-to-date return of -43.46% versus the Sensex's 7.44%. This context reinforces the view that Shardul Securities is currently undervalued in the capital markets industry.