BN Rathi Securities Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of BN Rathi Securities Ltd?

BN Rathi Securities Ltd is trading at 16.30 as of 17 June 2026, with a FY2026-2027 high of 24.9 and low of 10.8. The stock is currently in the middle of its 52-week range. Market cap stands at 68.1 Cr..

Q: Is BN Rathi Securities Ltd financially healthy?

Key indicators: ROCE of 18.9 % indicates efficient capital utilization. Dividend yield is 3.07 %.

Q: Is BN Rathi Securities Ltd profitable and how is the profit trend?

BN Rathi Securities Ltd reported a net profit of 9 Cr in Mar 2025 on revenue of 58 Cr. Compared to 5 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹14.16Overvalued by 13.13%vs CMP ₹16.30

P/E (7.2) × ROE (12.6%) × BV (₹18.90) × DY (3.07%)

₹21.68Undervalued by 33.01%vs CMP ₹16.30

MoS: +24.8% (Adequate)Confidence: 53/100 (Moderate)Models: 6 Under, 1 Fair, 2 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹14.57	22%	Over (-10.6%)
Graham Number	Earnings	₹27.04	16%	Under (+65.9%)
Earnings Power	Earnings	₹18.47	11%	Under (+13.3%)
DCF	Cash Flow	₹21.27	13%	Under (+30.5%)
Net Asset Value	Assets	₹18.89	7%	Under (+15.9%)
EV/EBITDA	Enterprise	₹35.45	9%	Under (+117.5%)
Earnings Yield	Earnings	₹17.20	7%	Fair (+5.5%)
ROCE Capital	Returns	₹35.18	9%	Under (+115.8%)
Revenue Multiple	Revenue	₹6.96	5%	Over (-57.3%)
Consensus (9 models)		₹21.68	100%	Undervalued

Key Drivers: Wide model spread (₹7–₹35) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 2.9%

*Investments are subject to market risks

Analyst Summary

BN Rathi Securities Ltd operates in the Finance & Investments segment, NSE: BNRSEC | BSE: 523019, current market price is ₹16.30, market cap is 68.1 Cr.. At a glance, stock P/E is 7.21, ROE is 12.6 %, ROCE is 18.9 %, book value is 18.9, dividend yield is 3.07 %. The latest intrinsic value estimate is ₹21.68, which is about 33.0% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹58 Cr versus the prior period change of 2.0%, while latest net profit is about ₹9 Cr with a prior-period change of -10.9%. The 52-week range shown on this page is 24.9/10.8, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisB N Rathi Securities Ltd. is a Public Limited Listed company incorporated on 30/09/1985 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) i…

This summary is generated from the stock page data available for BN Rathi Securities Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

BN Rathi Securities Ltd scores 61/100 (Average)

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

Stock Health77/100 · Strong

ROCE 18.9% GoodROE 12.6% GoodD/E 0.27 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money50/100 · Moderate

Promoter holding at 46.8% Stable

Earnings Quality65/100 · Strong

OPM expanding (23% → 26%) Improving

Quarterly Momentum35/100 · Weak

Revenue (4Q): -10% YoY DecliningProfit (4Q): -37% YoY DecliningOPM: 13.0% (up 14.8% YoY) Margin expansion

Industry Rank65/100 · Strong

P/E 7.2 vs industry 83.3 Cheaper than peersROCE 18.9% vs industry 19.4% Average3Y sales CAGR: 10% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: June 12, 2026, 8:03 am

Market Cap	68.1 Cr.
Current Price	16.3
Intrinsic Value	₹21.68
High / Low	24.9/10.8
Stock P/E	7.21
Book Value	18.9
Dividend Yield	3.07 %
ROCE	18.9 %
ROE	12.6 %
Face Value	5.00
PEG Ratio	2.48

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for BN Rathi Securities Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
BN Rathi Securities Ltd	68.1 Cr.	16.3	24.9/10.8	7.21	18.9	3.07 %	18.9 %	12.6 %	5.00
Haryana Capfin Ltd	73.0 Cr.	140	224/119	7.48	564	0.00 %	3.71 %	3.09 %	10.0
Steel City Securities Ltd	113 Cr.	75.1	117/71.3	7.94	91.4	5.33 %	14.5 %	10.7 %	10.0
Almondz Global Securities Ltd	236 Cr.	13.5	27.2/10.7	8.23	15.5	0.00 %	11.7 %	11.2 %	1.00
GACM Technologies Ltd	65.2 Cr.	0.51	1.07/0.40	8.32	0.96	0.00 %	10.1 %	10.1 %	1.00
Industry Average	6,607.18 Cr	1,199.48		83.32	3,649.13	0.41%	19.37%	11.58%	7.23

All Competitor Stocks of BN Rathi Securities 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	10.28	10.19	10.38	12.19	11.68	13.55	13.63	14.37	11.45	8.37	11.58	12.61	15.37
Expenses	8.50	8.74	9.06	10.02	10.01	12.78	11.49	11.62	11.65	9.19	10.58	11.21	13.37
Operating Profit	1.78	1.45	1.32	2.17	1.67	0.77	2.14	2.75	-0.20	-0.82	1.00	1.40	2.00
OPM %	17.32%	14.23%	12.72%	17.80%	14.30%	5.68%	15.70%	19.14%	-1.75%	-9.80%	8.64%	11.10%	13.01%
Other Income	1.66	1.49	2.04	2.37	2.57	2.68	2.86	2.89	2.65	1.92	1.95	2.15	2.37
Interest	0.48	0.38	0.32	0.23	0.29	0.20	0.28	0.21	0.19	0.19	0.14	0.15	0.24
Depreciation	0.10	0.09	0.08	0.08	0.11	0.12	0.16	0.17	0.17	0.16	0.12	0.14	0.12
Profit before tax	2.86	2.47	2.96	4.23	3.84	3.13	4.56	5.26	2.09	0.75	2.69	3.26	4.01
Tax %	24.83%	34.82%	25.34%	25.30%	25.26%	26.84%	23.68%	24.33%	25.84%	49.33%	46.10%	27.91%	25.19%
Net Profit	2.15	1.61	2.21	3.16	2.87	2.30	3.49	3.98	1.55	0.37	1.45	2.34	3.00
EPS in Rs	0.64	0.48	0.66	0.94	0.70	0.56	0.88	0.97	0.37	0.09	0.35	0.56	0.72

Last Updated: March 3, 2026, 12:00 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 12:00 am

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	11.58	19.01	23.04	28.70	29.66	28.08	26.42	33.11	43.22	46.90	56.98	58.13	47.93
Expenses	10.30	15.80	19.23	24.18	25.33	25.58	23.38	26.85	34.96	34.04	41.34	43.96	44.35
Operating Profit	1.28	3.21	3.81	4.52	4.33	2.50	3.04	6.26	8.26	12.86	15.64	14.17	3.58
OPM %	11.05%	16.89%	16.54%	15.75%	14.60%	8.90%	11.51%	18.91%	19.11%	27.42%	27.45%	24.38%	7.47%
Other Income	0.20	0.04	0.32	0.02	0.05	0.02	0.01	0.01	0.01	-0.25	-0.04	0.01	8.39
Interest	0.21	0.40	0.68	0.33	0.33	0.44	0.55	0.72	1.25	1.87	1.05	0.86	0.72
Depreciation	0.20	0.46	0.47	0.34	0.24	0.15	0.21	0.23	0.31	0.36	0.40	0.65	0.54
Profit before tax	1.07	2.39	2.98	3.87	3.81	1.93	2.29	5.32	6.71	10.38	14.15	12.67	10.71
Tax %	29.91%	30.13%	34.23%	34.63%	28.61%	36.27%	25.33%	31.58%	25.34%	26.97%	25.58%	25.81%
Net Profit	0.75	1.67	1.96	2.53	2.72	1.24	1.70	3.64	5.01	7.58	10.53	9.38	7.16
EPS in Rs	0.22	0.50	0.58	0.75	0.81	0.37	0.50	1.08	1.49	2.26	2.57	2.28	1.72
Dividend Payout %	40.32%	22.63%	20.57%	19.92%	22.24%	40.65%	29.65%	16.62%	16.77%	16.62%	14.60%	21.93%

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 (%)	122.67%	17.37%	29.08%	7.51%	-54.41%	37.10%	114.12%	37.64%	51.30%	38.92%	-10.92%
Change in YoY Net Profit Growth (%)	0.00%	-105.30%	11.72%	-21.57%	-61.92%	91.51%	77.02%	-76.48%	13.66%	-12.38%	-49.84%

BN Rathi Securities 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:	12%
5 Years:	17%
3 Years:	10%
TTM:	-10%

Compounded Profit Growth
10 Years:	19%
5 Years:	41%
3 Years:	24%
TTM:	-39%

Stock Price CAGR
10 Years:	19%
5 Years:	38%
3 Years:	35%
1 Year:	-39%

Return on Equity
10 Years:	15%
5 Years:	17%
3 Years:	17%
Last Year:	14%

Last Updated: September 5, 2025, 2:31 pm

Balance Sheet

Last Updated: May 26, 2026, 6:30 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	2.52	5.04	5.04	5.04	5.04	5.04	5.04	8.40	8.40	10.25	20.75	20.88
Reserves	8.20	10.71	13.23	15.31	15.87	16.10	19.79	28.26	35.48	52.74	50.19	58.02
Borrowings	1.07	0.27	0.16	0.04	0.00	0.01	6.85	1.69	0.00	0.18	0.18	0.09
Other Liabilities	25.99	32.79	35.24	41.47	40.75	40.32	86.04	109.53	112.16	140.37	112.70	127.31
Total Liabilities	37.78	48.81	53.67	61.86	61.66	61.47	117.72	147.88	156.04	203.54	183.82	206.30
Fixed Assets	0.30	0.55	0.34	0.35	0.27	0.27	3.11	3.46	3.29	3.69	3.70	3.31
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.90	1.35	0.07	1.70	1.31	1.71	0.52	10.65	8.96	8.07
Other Assets	37.48	48.26	52.43	60.16	61.32	59.50	113.30	142.71	152.23	189.20	171.16	194.92
Total Assets	37.78	48.81	53.67	61.86	61.66	61.47	117.72	147.88	156.04	203.54	183.82	206.30

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 +	5.66	-1.45	-2.01	6.67	-4.14	13.46	33.61	41.20	-5.14	4.87	-22.63	10.50
Cash from Investing Activity +	1.75	1.43	0.25	3.22	-7.09	-3.16	-44.42	-22.84	4.71	1.63	39.65	27.00
Cash from Financing Activity +	0.24	7.34	-0.93	-1.06	-1.01	-1.82	1.09	6.26	2.42	15.38	-1.95	-2.66
Net Cash Flow	7.65	7.32	-2.69	8.83	-12.23	8.48	-9.73	24.63	1.98	21.89	15.07	34.85
Free Cash Flow	5.49	-2.15	-2.14	6.42	-4.21	13.34	30.63	40.55	-5.33	4.32	-23.18	10.35
CFO/OP	203%	-10%	-18%	184%	-136%	462%	561%	524%	-20%	56%	-132%	246%

Free Cash Flow

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
Free Cash Flow	1.28	2.14	3.54	4.36	4.29	2.50	3.03	-0.59	6.57	12.86	15.46	13.99

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

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	200.15	117.12	139.73	167.37	137.21	147.40	58.71	98.22	89.10	60.63	73.22	99.40
Inventory Days
Days Payable
Cash Conversion Cycle	200.15	117.12	139.73	167.37	137.21	147.40	58.71	98.22	89.10	60.63	73.22	99.40
Working Capital Days	-69.66	-200.45	-158.42	-76.31	-140.54	-92.81	-293.57	-588.01	-792.07	-649.84	-565.63	-498.12
ROCE %	13.29%	26.05%	24.09%	24.38%	21.28%	11.48%	13.50%	22.87%	22.73%	30.40%	28.47%	20.12%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	58.10%	58.10%	58.10%	47.61%	47.61%	47.61%	47.61%	47.04%	47.04%	47.04%	47.04%	46.76%
Public	41.90%	41.90%	41.90%	52.39%	52.40%	52.39%	52.39%	52.97%	52.96%	52.96%	52.95%	53.24%
No. of Shareholders	5,190	5,379	5,198	5,716	5,756	6,738	7,013	13,402	24,859	23,180	22,123	21,291

Shareholding Pattern Chart

No. of Shareholders

BN Rathi 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

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	5.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	2.30	11.50	9.02	8.81	7.22
Diluted EPS (Rs.)	2.27	11.50	9.02	8.81	7.22
Cash EPS (Rs.)	2.42	10.66	9.46	6.33	7.68
Book Value[Excl.RevalReserv]/Share (Rs.)	17.09	61.45	52.24	43.64	49.26
Book Value[Incl.RevalReserv]/Share (Rs.)	17.09	61.45	52.24	43.64	49.26
Revenue From Operations / Share (Rs.)	11.52	46.64	48.25	45.93	58.98
PBDIT / Share (Rs.)	3.42	15.21	15.32	9.85	12.45
PBIT / Share (Rs.)	3.26	14.83	14.88	9.48	11.99
PBT / Share (Rs.)	3.05	13.81	12.36	7.99	10.55
Net Profit / Share (Rs.)	2.26	10.28	9.02	5.96	7.22
NP After MI And SOA / Share (Rs.)	2.28	10.28	9.02	5.96	7.22
PBDIT Margin (%)	29.64	32.62	31.74	21.44	21.10
PBIT Margin (%)	28.27	31.79	30.85	20.64	20.32
PBT Margin (%)	26.47	29.60	25.61	17.39	17.89
Net Profit Margin (%)	19.62	22.03	18.70	12.97	12.23
NP After MI And SOA Margin (%)	19.78	22.03	18.70	12.97	12.23
Return on Networth / Equity (%)	13.34	16.72	17.27	13.65	14.64
Return on Capital Employeed (%)	18.90	23.83	28.16	20.23	22.33
Return On Assets (%)	5.14	5.14	4.85	3.38	3.08
Long Term Debt / Equity (X)	0.00	0.00	0.00	0.04	0.06
Total Debt / Equity (X)	0.00	0.00	0.00	0.04	0.27
Asset Turnover Ratio (%)	0.24	0.26	0.26	0.29	0.33
Current Ratio (X)	0.74	1.41	1.33	1.30	1.24
Quick Ratio (X)	0.74	1.33	1.33	1.30	1.24
Inventory Turnover Ratio (X)	9.45	0.00	0.00	0.00	0.00
Dividend Payout Ratio (NP) (%)	16.24	11.96	11.08	12.07	0.00
Dividend Payout Ratio (CP) (%)	15.19	11.52	10.57	11.37	0.00
Earning Retention Ratio (%)	83.76	88.04	88.92	87.93	0.00
Cash Earning Retention Ratio (%)	84.81	88.48	89.43	88.63	0.00
Interest Coverage Ratio (X)	16.49	14.90	6.87	6.60	8.69
Interest Coverage Ratio (Post Tax) (X)	11.92	11.06	5.18	5.00	6.04
Enterprise Value (Cr.)	62.20	-30.36	-91.93	-94.95	-60.12
EV / Net Operating Revenue (X)	1.30	-0.63	-2.27	-2.46	-2.02
EV / EBITDA (X)	4.39	-1.95	-7.15	-11.47	-9.58
MarketCap / Net Operating Revenue (X)	2.29	2.19	0.70	0.73	0.41
Retention Ratios (%)	83.75	88.03	88.91	87.92	0.00
Price / BV (X)	1.54	1.66	0.64	0.77	0.49
Price / Net Operating Revenue (X)	2.29	2.19	0.70	0.73	0.41
EarningsYield	0.08	0.10	0.26	0.17	0.29

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

B N Rathi Securities Ltd. is a Public Limited Listed company incorporated on 30/09/1985 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L65993TG1985PLC005838 and registration number is 005838. Currently company belongs to the Industry of Finance & Investments. Company's Total Operating Revenue is Rs. 53.81 Cr. and Equity Capital is Rs. 20.88 Cr. for the Year ended 31/03/2026.

INDUSTRY	ADDRESS	CONTACT
Finance & Investments	6-3-652, IV Floor, Hyderabad Telangana 500082	Contact not found

Management
Name	Position Held
Mr. Laxminiwas Sharma	Chairman, Non Ind & Non Exe Director
Mr. Hari Narayan Rathi	Managing Director
Mr. Chetan Rathi	Executive Director & CFO
Mr. K Harishchandra Prasad	Non Exe.Non Ind.Director
Mrs. DhanaLakshmi Guntaka	Ind. Non-Executive Director
Mr. Lakshminarayana Bolisetty	Ind. Non-Executive Director

FAQ

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

As of 17 June 2026, BN Rathi Securities Ltd's intrinsic value is ₹21.68, which is 33.01% higher than the current market price of ₹16.30, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (12.6 %), book value (₹18.9), dividend yield (3.07 %), and 5-year EPS CAGR.

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

BN Rathi Securities Ltd is trading at ₹16.30 as of 17 June 2026, with a FY2026-2027 high of ₹24.9 and low of ₹10.8. The stock is currently in the middle of its 52-week range. Market cap stands at ₹68.1 Cr..

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

BN Rathi Securities Ltd has a P/E ratio of 7.21, which is below the industry average of 83.32. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is BN Rathi Securities Ltd financially healthy?

Key indicators for BN Rathi Securities Ltd: ROCE of 18.9 % indicates efficient capital utilization. Dividend yield is 3.07 %.

Is BN Rathi Securities Ltd profitable and how is the profit trend?

BN Rathi Securities Ltd reported a net profit of ₹9 Cr in Mar 2025 on revenue of ₹58 Cr. Compared to ₹5 Cr in Mar 2022, the net profit shows an improving trend.

Does BN Rathi Securities Ltd pay dividends?

BN Rathi Securities Ltd has a dividend yield of 3.07 % at the current price of ₹16.30. This is a relatively attractive yield for income-seeking investors.