Anant Raj Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹537.54Overvalued by 10.11%vs CMP ₹598.00

P/E (37.2) × ROE (11.2%) × BV (₹161.00) × DY (0.17%)

₹317.42Overvalued by 46.92%vs CMP ₹598.00

MoS: -88.4% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹817.81	23%	Under (+36.8%)
Graham Number	Earnings	₹234.34	17%	Over (-60.8%)
Earnings Power	Earnings	₹45.08	11%	Over (-92.5%)
DCF	Cash Flow	₹340.16	11%	Over (-43.1%)
Net Asset Value	Assets	₹160.77	7%	Over (-73.1%)
EV/EBITDA	Enterprise	₹155.05	9%	Over (-74.1%)
Earnings Yield	Earnings	₹151.60	7%	Over (-74.6%)
ROCE Capital	Returns	₹14.22	7%	Over (-97.6%)
Revenue Multiple	Revenue	₹85.81	6%	Over (-85.7%)
Consensus (9 models)		₹317.42	100%	Overvalued

Key Drivers: EPS CAGR 52.1% lifts DCF — verify sustainability. | Wide model spread (₹14–₹818) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 52.1%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 14 September 2026, 12:36 pm +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹2,060.00 Cr, versus ₹1,483.00 Cr in Mar 2024 (38.9% year on year). Net profit for Mar 2025 was ₹426.00 Cr, versus ₹271.00 Cr in Mar 2024 (57.2% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹253.00 Cr against net profit of ₹426.00 Cr. Cash flow covered 0.59 times reported profit. The gap warrants checking receivables, working capital and one-off items in the cash-flow statement.

Balance-sheet check

Reported borrowings were ₹681.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Anant Raj Ltd scores 68/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health80/100 · Strong

ROCE 12.1% GoodROE 11.2% AverageD/E 0.11 Low debtInterest Coverage 48.4x StrongProfitable 5/5 available years Reported history

Smart Money50/100 · Moderate

FII holding up 0.02% (6mo) Slight increaseDII holding down 1.22% MF sellingPromoter holding at 57.4% Stable

Earnings Quality40/100 · Moderate

CFO/NP ratio: 0.31x Poor cash conversionOPM expanding (19% → 24%) ImprovingWorking capital: 323 days Capital intensive

Quarterly Momentum90/100 · Strong

Revenue (4Q): +23% YoY AcceleratingProfit (4Q): +35% YoY Strong

Industry Rank75/100 · Strong

P/E 37.2 vs industry 63.0 Lower P/EROCE 12.1% vs industry 11.2% Average3Y sales CAGR: 65% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 14, 2026, 12:36 pm

Market Cap	21,533 Cr.
Current Price	598
Intrinsic Value	₹317.42
High / Low	744/403
Stock P/E	37.2
Book Value	161
Dividend Yield	0.17 %
ROCE	12.1 %
ROE	11.2 %
Face Value	2.00
PEG Ratio	0.71

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Anant Raj Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Anant Raj Ltd	21,533 Cr.	598	744/403	37.2	161	0.17 %	12.1 %	11.2 %	2.00
Brigade Enterprises Ltd	20,837 Cr.	639	802/451	30.6	209	0.31 %	10.5 %	10.5 %	10.0
Sobha Ltd	13,012 Cr.	1,217	1,732/1,130	56.4	441	0.49 %	6.86 %	4.16 %	10.0
Mahindra Lifespace Developers Ltd	8,090 Cr.	379	428/287	26.0	170	0.92 %	7.64 %	9.91 %	10.0
Ganesh Housing Corporation Ltd	7,378 Cr.	885	1,485/774	12.8	220	0.57 %	44.0 %	37.8 %	10.0
Industry Average	18,160.96 Cr	418.18		62.96	151.53	0.65%	11.19%	11.90%	6.24

All Competitor Stocks of Anant Raj Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	266	280	316	332	392	443	472	513	535	541	592	631	642
Expenses	213	206	257	252	302	338	369	400	401	398	442	463	472
Operating Profit	53	74	60	80	90	104	103	113	134	142	151	168	170
OPM %	20%	26%	19%	24%	23%	24%	22%	22%	25%	26%	25%	27%	26%
Other Income	14	10	10	9	9	11	10	11	9	10	10	10	19
Interest	6	10	7	8	8	11	4	2	3	3	2	3	3
Depreciation	4	4	4	4	5	5	5	8	8	9	8	11	13
Profit before tax	57	69	57	76	86	99	104	114	132	141	150	164	172
Tax %	22%	33%	16%	23%	19%	11%	14%	8%	17%	16%	17%	17%	17%
Net Profit	45	48	50	60	71	84	91	106	110	119	126	138	144
EPS in Rs	1.41	1.52	1.56	1.85	2.22	2.29	2.66	3.09	3.23	3.46	3.67	4.02	4.01

Last Updated: February 6, 2026, 6:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 7:16 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	483	484	431	466	480	350	276	250	462	957	1,483	2,060	2,405
Expenses	342	233	295	325	370	274	224	214	386	760	1,149	1,568	1,775
Operating Profit	141	251	137	141	110	75	52	35	76	197	334	492	631
OPM %	29%	52%	32%	30%	23%	22%	19%	14%	16%	21%	23%	24%	26%
Other Income	18	8	24	29	49	15	10	20	39	48	37	40	49
Interest	19	55	46	54	55	28	15	31	27	32	35	11	12
Depreciation	15	28	27	27	26	22	18	17	17	17	18	30	41
Profit before tax	125	175	87	88	79	40	29	8	72	197	319	491	628
Tax %	17%	19%	27%	24%	23%	27%	42%	97%	32%	27%	17%	14%
Net Profit	100	142	70	76	66	40	24	9	53	149	271	426	527
EPS in Rs	3.40	4.82	2.35	2.61	2.29	1.45	0.91	0.36	1.86	4.73	7.63	12.40	15.16
Dividend Payout %	7%	5%	10%	9%	10%	17%	9%	28%	6%	11%	10%	6%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	42.00%	-50.70%	8.57%	-13.16%	-39.39%	-40.00%	-62.50%	488.89%	181.13%	81.88%	57.20%
Change in YoY Net Profit Growth (%)	0.00%	-92.70%	59.28%	-21.73%	-26.24%	-0.61%	-22.50%	551.39%	-307.76%	-99.25%	-24.68%

Anant Raj Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	16%
5 Years:	49%
3 Years:	65%
TTM:	33%

Compounded Profit Growth
10 Years:	12%
5 Years:	74%
3 Years:	98%
TTM:	53%

Stock Price CAGR
10 Years:	41%
5 Years:	99%
3 Years:	78%
1 Year:	-13%

Return on Equity
10 Years:	4%
5 Years:	6%
3 Years:	9%
Last Year:	11%

Last Updated: September 4, 2025, 11:15 pm

Balance Sheet

Last Updated: June 16, 2026, 6:00 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	59	59	59	59	59	59	59	59	65	68	69	72
Reserves	4,075	4,058	4,187	4,128	2,442	2,426	2,440	2,580	2,760	3,588	4,092	5,717
Borrowings	1,356	1,489	1,721	2,600	1,591	1,691	1,663	1,283	1,079	627	482	681
Other Liabilities	601	643	726	686	509	412	448	463	452	585	592	399
Total Liabilities	6,091	6,249	6,692	7,473	4,602	4,588	4,611	4,385	4,357	4,868	5,235	6,869
Fixed Assets	2,555	380	2,627	2,789	1,351	1,342	1,326	1,310	1,305	1,314	1,367	1,793
CWIP	169	169	145	192	146	140	90	48	18	22	36	39
Investments	663	2,876	649	594	402	461	423	460	460	302	311	183
Other Assets	2,704	2,824	3,272	3,899	2,703	2,645	2,772	2,567	2,573	3,231	3,520	4,853
Total Assets	6,091	6,249	6,692	7,473	4,602	4,588	4,611	4,385	4,357	4,868	5,235	6,869

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	249	-73	-127	-305	810	-84	-150	423	33	-26	253	-435
Cash from Investing Activity +	-123	-50	-33	-229	1,707	-5	85	31	-20	181	-147	-231
Cash from Financing Activity +	-82	109	193	675	-2,679	43	83	-461	2	116	-81	1,235
Net Cash Flow	43	-14	33	141	-162	-46	18	-7	15	271	25	569
Free Cash Flow	238	-44	-162	-544	1,352	-82	-118	466	-5	-55	177	-796
CFO/OP	114%	-42%	-73%	-263%	1,088%	-137%	-403%	588%	43%	9%	66%	-50%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	238.00	-44.00	-162.00	-544.00	1,352.00	-82.00	-118.00	466.00	-5.00	-55.00	177.00	-796.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	55	71	82	87	80	65	95	64	17	20	25	22
Inventory Days
Days Payable
Cash Conversion Cycle	55	71	82	87	80	65	95	64	17	20	25	22
Working Capital Days	669	772	708	877	1,113	1,522	1,946	2,638	1,191	659	480	323
ROCE %	3%	4%	3%	2%	2%	1%	1%	1%	2%	6%	9%	11%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	63.31%	63.30%	60.01%	60.01%	60.01%	60.01%	60.16%	60.12%	60.12%	57.41%	57.41%	57.43%
FIIs	9.51%	8.96%	11.52%	13.10%	13.04%	13.07%	12.88%	10.62%	10.72%	11.14%	10.88%	10.74%
DIIs	1.66%	1.60%	3.63%	6.51%	6.69%	6.71%	6.57%	6.22%	5.82%	5.20%	4.83%	4.60%
Public	25.53%	26.14%	24.83%	20.36%	20.26%	20.21%	20.38%	23.04%	23.32%	26.26%	26.89%	27.22%
No. of Shareholders	50,956	57,858	63,832	74,161	1,16,891	1,56,568	2,12,034	2,57,866	2,91,165	3,35,175	3,68,350	3,75,155

Shareholding Pattern Chart

No. of Shareholders

Anant Raj Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Tata Small Cap Fund	4,000,000	1.87	201.72	3,639,258	2026-02-23 00:15:32	9.91%
Axis Small Cap Fund	2,538,132	0.5	128	N/A	N/A	N/A
Tata ELSS Fund	1,013,513	1.12	51.11	N/A	N/A	N/A
Aditya Birla Sun Life Value Fund	879,611	0.71	44.36	N/A	N/A	N/A
ITI Small Cap Fund	536,643	1.01	27.06	576,497	2026-02-23 00:15:32	-6.91%
Axis Multicap Fund	468,998	0.26	23.65	608,608	2026-02-23 00:15:32	-22.94%
Tata Aggressive Hybrid Fund	322,418	0.4	16.26	500,000	2025-12-15 04:50:48	-35.52%
Union Small Cap Fund	290,000	0.86	14.62	N/A	N/A	N/A
ITI Focused Fund	236,114	2.13	11.91	259,164	2026-02-23 00:15:32	-8.89%
Edelweiss Aggressive Hybrid Fund	232,114	0.34	11.71	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	12.43	7.96	4.73	1.92	0.43
Diluted EPS (Rs.)	12.43	7.96	4.88	1.74	0.43
Cash EPS (Rs.)	13.17	8.27	4.96	2.21	0.58
Book Value[Excl.RevalReserv]/Share (Rs.)	121.25	106.94	88.19	90.63	85.95
Book Value[Incl.RevalReserv]/Share (Rs.)	121.25	106.94	88.19	90.63	85.95
Revenue From Operations / Share (Rs.)	60.01	43.38	29.53	15.65	8.46
PBDIT / Share (Rs.)	15.50	10.86	7.56	3.91	1.88
PBIT / Share (Rs.)	14.61	10.33	7.05	3.34	1.29
PBT / Share (Rs.)	14.29	9.32	6.07	2.42	0.25
Net Profit / Share (Rs.)	12.28	7.74	4.46	1.64	0.01
NP After MI And SOA / Share (Rs.)	12.40	7.78	4.66	1.86	0.36
PBDIT Margin (%)	25.82	25.02	25.60	24.95	22.16
PBIT Margin (%)	24.34	23.81	23.87	21.34	15.28
PBT Margin (%)	23.81	21.47	20.55	15.48	3.04
Net Profit Margin (%)	20.46	17.83	15.09	10.49	0.09
NP After MI And SOA Margin (%)	20.67	17.92	15.79	11.88	4.26
Return on Networth / Equity (%)	10.23	7.27	5.34	2.07	0.42
Return on Capital Employeed (%)	10.57	8.01	5.74	2.61	0.95
Return On Assets (%)	8.13	5.46	3.46	1.25	0.23
Long Term Debt / Equity (X)	0.09	0.12	0.31	0.34	0.56
Total Debt / Equity (X)	0.11	0.17	0.33	0.37	0.59
Asset Turnover Ratio (%)	0.40	0.32	0.15	0.08	0.05
Current Ratio (X)	5.43	5.90	5.70	3.53	3.85
Quick Ratio (X)	3.08	2.85	2.57	1.69	1.50
Inventory Turnover Ratio (X)	1.60	1.14	0.00	0.00	0.00
Dividend Payout Ratio (NP) (%)	5.86	6.09	2.34	5.37	7.75
Dividend Payout Ratio (CP) (%)	5.46	5.70	2.11	4.12	2.96
Earning Retention Ratio (%)	94.14	93.91	97.66	94.63	92.25
Cash Earning Retention Ratio (%)	94.54	94.30	97.89	95.88	97.04
Interest Coverage Ratio (X)	48.42	10.73	7.71	4.26	1.81
Interest Coverage Ratio (Post Tax) (X)	39.37	8.64	5.55	2.79	1.01
Enterprise Value (Cr.)	17031.70	10985.30	4864.34	2939.11	3106.53
EV / Net Operating Revenue (X)	8.27	7.41	5.08	6.36	12.44
EV / EBITDA (X)	32.02	29.59	19.86	25.50	56.13
MarketCap / Net Operating Revenue (X)	8.20	7.18	4.15	4.24	6.44
Retention Ratios (%)	94.13	93.90	97.65	94.62	92.24
Price / BV (X)	4.06	2.91	1.40	0.74	0.64
Price / Net Operating Revenue (X)	8.20	7.18	4.15	4.24	6.44
EarningsYield	0.02	0.02	0.03	0.02	0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Anant Raj Ltd and is it undervalued?

Anant Raj Ltd: the stored intrinsic value estimate is ₹317.42, compared with a stored share price of ₹598.00. The model value is 46.9% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Anant Raj Ltd?

The stored share price is ₹598.00. Price-data record updated: 14 September 2026, 12:36 pm +05:30. This is not a live quote. The stored 52-week high / low is 744/403; this is a rolling range, not a financial-year range.

How have Anant Raj Ltd's revenue and profit changed?

Does Anant Raj Ltd's profit convert into cash?

What should I check in Anant Raj Ltd's balance sheet?

Reported borrowings were ₹681.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Anant Raj Ltd's P/E with other stocks?

The stored P/E is 37.20. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Anant Raj Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.