Is Shardul Sec. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Shardul Securities has moved from risky to fair, indicating an improvement in its perceived value. The company is currently fairly valued despite its unusual financial ratios, such as a PE ratio of -40.59 and an EV to EBITDA ratio of -428.44, which suggest significant challenges. However, the Price to Book Value stands at 0.61, indicating that the stock may be undervalued relative to its assets.
In comparison to peers, Shardul Securities has a less favorable valuation profile than Bajaj Finance, which has a PE ratio of 38.21, and Life Insurance, which boasts a PE ratio of 11.49. Despite the recent underperformance of Shardul Securities, with a year-to-date return of -43.46% compared to the Sensex's 7.44%, the company's current valuation suggests it is not overvalued but rather fairly positioned within its industry.