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Last Updated: April 2, 2026, 4:04 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 538465 | NSE: AMARSEC

Amarnath Securities Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹10.58Overvalued by 10.34%vs CMP ₹11.80

P/E (19.7) × ROE (4.3%) × BV (₹15.20) × DY (2.00%)

₹10.87Fairly Valued by 7.88%vs CMP ₹11.80
MoS: -8.6% (Negative)Confidence: 43/100 (Low)Models: 4 Under, 3 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹13.1427%Under (+11.4%)
Graham NumberEarnings₹14.2020%Under (+20.3%)
Earnings PowerEarnings₹4.9913%Over (-57.7%)
DCFCash Flow₹14.6813%Under (+24.4%)
Net Asset ValueAssets₹15.169%Under (+28.5%)
Earnings YieldEarnings₹5.909%Over (-50%)
ROCE CapitalReturns₹0.089%Over (-99.3%)
Consensus (7 models)₹10.87100%Fairly Valued
Key Drivers: ROE 4.3% is below cost of equity. | Wide model spread (₹0–₹15) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 24.2%

*Investments are subject to market risks

Investment Snapshot

50
Amarnath Securities Ltd scores 50/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health50/100 · Moderate
ROCE 5.8% WeakROE 4.3% WeakD/E 0.08 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 0.0% Stable
Earnings Quality60/100 · Moderate
Working capital: -234 days (improving) Efficient
Quarterly Momentum40/100 · Moderate
Profit (4Q): -10% YoY Declining
Industry Rank45/100 · Moderate
P/E 19.7 vs industry 101.6 Cheaper than peersROCE 5.8% vs industry 15.8% Below peersROE 4.3% vs industry 8.8% Below peers

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Amarnath Securities Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
50/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 19.7 vs Ind 101.6 | ROCE 5.8% | ROE 4.3% | CFO/NP N/A
Balance Sheet Stress
20/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.08x | IntCov 0.0x | Current 0.08x | Borrow/Reserve 0.00x
Cash Flow Reliability
43/100
Mixed
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹0 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII N/A | DII N/A | Prom 0.00 pp
Business Momentum
0
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales N/A | Q NP 0.0% | Q OPM N/A
Derived FieldValueHow it is derived
Valuation Gap %-7.9%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.00xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII ChangeN/ALatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-40Latest shareholder count minus previous count
Quarterly Sales ChangeN/ALatest quarter sales vs previous quarter sales
Quarterly Profit Change0.0%Latest quarter net profit vs previous quarter net profit
Quarterly OPM ChangeN/ALatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:04 am

Market Cap 3.55 Cr.
Current Price 11.8
Intrinsic Value₹13.14
High / Low 17.9/10.1
Stock P/E19.7
Book Value 15.2
Dividend Yield0.00 %
ROCE5.77 %
ROE4.33 %
Face Value 10.0
PEG Ratio0.82

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Amarnath Securities Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Amarnath Securities Ltd 3.55 Cr. 11.8 17.9/10.119.7 15.20.00 %5.77 %4.33 % 10.0
Crest Ventures Ltd 935 Cr. 329 450/29819.6 4440.30 %9.68 %7.70 % 10.0
Challani Capital Ltd 30.6 Cr. 20.4 33.1/17.720.1 5.400.00 %28.2 %28.2 % 10.0
Capri Global Capital Ltd 16,932 Cr. 176 214/15120.1 69.40.11 %11.2 %11.8 % 1.00
Apollo Finvest (India) Ltd 131 Cr. 350 659/31818.9 1910.00 %14.7 %11.4 % 10.0
Industry Average22,241.21 Cr369.74101.56513.160.26%15.81%8.84%8.50

All Competitor Stocks of Amarnath Securities Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue0.100.100.100.100.110.100.100.100.100.100.090.100.10
Interest 0.010.010.010.010.000.000.010.010.010.010.010.010.00
Expenses 0.020.050.060.020.020.020.020.020.030.010.020.040.05
Financing Profit0.070.040.030.070.090.080.070.070.060.080.060.050.05
Financing Margin %70.00%40.00%30.00%70.00%81.82%80.00%70.00%70.00%60.00%80.00%66.67%50.00%50.00%
Other Income 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Profit before tax 0.070.040.030.070.090.080.070.070.060.080.060.050.05
Tax % 0.00%0.00%33.33%28.57%33.33%25.00%28.57%28.57%33.33%25.00%33.33%20.00%20.00%
Net Profit 0.070.040.020.050.060.060.050.050.040.060.040.040.04
EPS in Rs 0.230.130.070.170.200.200.170.170.130.200.130.130.13
Gross NPA %
Net NPA %

Last Updated: March 3, 2026, 12:31 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 6:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue0.220.260.370.340.540.400.430.360.240.380.410.390.39
Interest -0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.000.030.030.020.03
Expenses 0.140.160.210.150.130.180.250.350.150.150.120.100.12
Financing Profit0.080.100.160.190.410.220.180.010.090.200.260.270.24
Financing Margin %36.36%38.46%43.24%55.88%75.93%55.00%41.86%2.78%37.50%52.63%63.41%69.23%61.54%
Other Income -0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.00-0.000.00
Depreciation -0.000.030.030.010.010.010.020.010.01-0.00-0.00-0.000.00
Profit before tax 0.080.070.130.180.400.210.16-0.000.080.200.260.270.24
Tax % 25.00%14.29%30.77%33.33%27.50%28.57%31.25%25.00%35.00%26.92%29.63%
Net Profit 0.050.060.090.120.290.150.12-0.000.060.130.190.190.18
EPS in Rs 0.170.200.300.400.970.500.40-0.000.200.430.630.630.59
Dividend Payout % -0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212022-20232023-20242024-2025
YoY Net Profit Growth (%)20.00%50.00%33.33%141.67%-48.28%-20.00%-100.00%116.67%46.15%0.00%
Change in YoY Net Profit Growth (%)0.00%30.00%-16.67%108.33%-189.94%28.28%-80.00%216.67%-70.51%-46.15%

Amarnath Securities Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:4%
5 Years:-2%
3 Years:18%
TTM:-5%
Compounded Profit Growth
10 Years:12%
5 Years:10%
3 Years:47%
TTM:-14%
Stock Price CAGR
10 Years:-5%
5 Years:-7%
3 Years:-10%
1 Year:-68%
Return on Equity
10 Years:4%
5 Years:3%
3 Years:4%
Last Year:4%

Last Updated: September 5, 2025, 2:16 pm

Balance Sheet

Last Updated: February 1, 2026, 2:17 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 3.003.003.003.003.003.003.003.003.003.003.003.003.00
Reserves 0.080.130.220.340.640.790.900.910.961.101.291.481.56
Borrowing0.000.000.000.030.060.000.000.340.000.890.600.690.78
Other Liabilities 0.030.030.020.050.120.160.110.090.580.190.190.240.28
Total Liabilities 3.113.163.243.423.823.954.014.344.545.185.085.415.62
Fixed Assets 0.020.090.050.030.020.050.030.020.010.000.000.000.00
CWIP 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments 0.260.000.200.250.040.040.040.040.044.540.010.010.01
Other Assets 2.833.072.993.143.763.863.944.284.490.645.075.405.61
Total Assets 3.113.163.243.423.823.954.014.344.545.185.085.415.62

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 0.08-0.150.18-0.070.360.210.08-0.010.114.080.190.26
Cash from Investing Activity + -0.010.16-0.18-0.05-0.33-0.18-0.13-0.29-0.24-4.500.11-0.39
Cash from Financing Activity + 0.000.000.000.030.03-0.060.000.340.110.45-0.300.09
Net Cash Flow 0.070.010.01-0.090.07-0.03-0.050.03-0.030.030.01-0.04
Free Cash Flow 0.07-0.250.20-0.070.360.180.08-0.010.114.080.190.26
CFO/OP 100%-130%144%-26%102%100%106%0%133%1,774%69%117%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.140.160.210.120.070.180.250.010.15-0.74-0.48-0.59

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 0.000.000.000.000.000.000.000.000.000.000.000.00
Inventory Days
Days Payable
Cash Conversion Cycle 0.000.000.000.000.000.000.000.000.000.000.000.00
Working Capital Days 265.4556.159.86-53.68-74.35-155.12-93.37-111.53-882.08-192.11-169.15-233.97
ROCE %2.62%2.25%4.09%5.46%11.32%5.61%4.16%0.00%1.95%5.14%5.87%5.77%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 55.68%55.68%55.68%55.68%55.68%55.68%55.68%6.57%3.17%0.00%0.00%0.00%
Public 44.33%44.34%44.32%44.32%44.32%44.31%44.32%93.44%96.83%99.99%100.00%100.00%
No. of Shareholders 3263324324634995175891,1371,4311,5211,6791,639

Shareholding Pattern Chart

No. of Shareholders

Amarnath Securities Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 0.640.620.660.220.00
Diluted EPS (Rs.) 0.640.620.660.220.00
Cash EPS (Rs.) 0.640.620.650.210.03
Book Value[Excl.RevalReserv]/Share (Rs.) 14.9314.2913.8713.2313.02
Book Value[Incl.RevalReserv]/Share (Rs.) 14.9314.2913.8713.2313.02
Revenue From Operations / Share (Rs.) 1.301.361.270.811.21
PBDIT / Share (Rs.) 0.980.970.780.280.03
PBIT / Share (Rs.) 0.980.970.780.280.01
PBT / Share (Rs.) 0.900.870.680.280.01
Net Profit / Share (Rs.) 0.640.620.650.210.00
PBDIT Margin (%) 75.5271.5461.8135.153.14
PBIT Margin (%) 75.5271.5461.8135.150.66
PBT Margin (%) 69.9764.0853.5135.150.66
Net Profit Margin (%) 49.4945.7751.7226.480.26
Return on Networth / Equity (%) 4.304.364.751.620.02
Return on Capital Employeed (%) 6.566.825.672.150.06
Return On Assets (%) 3.553.683.811.410.02
Total Debt / Equity (X) 0.150.130.000.000.08
Asset Turnover Ratio (%) 0.070.070.070.050.08
Current Ratio (X) 0.000.050.030.010.08
Quick Ratio (X) 0.000.050.030.010.08
Interest Coverage Ratio (X) 13.619.608.040.000.00
Interest Coverage Ratio (Post Tax) (X) 9.927.147.800.000.00
Enterprise Value (Cr.) 4.8217.488.485.414.94
EV / Net Operating Revenue (X) 12.3742.7822.1922.1713.58
EV / EBITDA (X) 16.3859.7935.8963.06432.17
MarketCap / Net Operating Revenue (X) 10.6241.4322.2922.2112.75
Price / BV (X) 0.923.952.051.361.19
Price / Net Operating Revenue (X) 10.6241.4422.2922.2312.76
EarningsYield 0.040.010.020.010.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Amarnath Securities Ltd. is a Public Limited Listed company incorporated on 12/10/1994 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L67120GJ1994PLC023254 and registration number is 023254. Currently Company is involved in the business activities of Trusts, funds and other financial vehicles. Company's Total Operating Revenue is Rs. 0.39 Cr. and Equity Capital is Rs. 3.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Non-Banking Financial Company (NBFC)Sarthak 1/104, Opp. City Centre, Ahmedabad Gujarat 380009Contact not found
Management
NamePosition Held
Mr. Chetan Balubhai PatelExecutive & Wholetime Director
Mr. Amit Priyakant PandyaExecutive & Wholetime Director
Mr. Sanjay RajkumarInd. Non-Executive Director
Ms. Nitin WalunjInd. Non-Executive Director
Mr. Vaishali Dhruvabal MahadikInd. Non-Executive Director

FAQ

What is the intrinsic value of Amarnath Securities Ltd and is it undervalued?

As of 04 April 2026, Amarnath Securities Ltd's intrinsic value is ₹10.87, which is 7.88% lower than the current market price of ₹11.80, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.33 %), book value (₹15.2), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Amarnath Securities Ltd?

Amarnath Securities Ltd is trading at ₹11.80 as of 04 April 2026, with a FY2026-2027 high of ₹17.9 and low of ₹10.1. The stock is currently near its 52-week low. Market cap stands at ₹3.55 Cr..

How does Amarnath Securities Ltd's P/E ratio compare to its industry?

Amarnath Securities Ltd has a P/E ratio of 19.7, which is below the industry average of 101.56. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Amarnath Securities Ltd financially healthy?

Key indicators for Amarnath Securities Ltd: ROCE of 5.77 % is on the lower side compared to the industry average of 15.81%; ROE of 4.33 % is below ideal levels (industry average: 8.84%). Dividend yield is 0.00 %.

Is Amarnath Securities Ltd profitable and how is the profit trend?

Amarnath Securities Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹0 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows an improving trend.

Does Amarnath Securities Ltd pay dividends?

Amarnath Securities Ltd has a dividend yield of 0.00 % at the current price of ₹11.80. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Amarnath Securities Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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