First Custodian Fund(I) Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of First Custodian Fund(I) Ltd?

First Custodian Fund(I) Ltd is trading at 78.00 as of 22 April 2026, with a FY2026-2027 high of 140 and low of 65.0. The stock is currently near its 52-week low. Market cap stands at 11.7 Cr..

Q: Is First Custodian Fund(I) Ltd financially healthy?

Key indicators: ROCE of 14.9 % is moderate. Dividend yield is 1.28 %.

Q: Is First Custodian Fund(I) Ltd profitable and how is the profit trend?

First Custodian Fund(I) Ltd reported a net profit of 2 Cr in Mar 2025 on revenue of 3 Cr. Compared to 1 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹146.28Undervalued by 87.54%vs CMP ₹78.00

P/E (15.0) × ROE (11.8%) × BV (₹102.00) × DY (1.28%)

Defaults: P/E=15

₹95.87Undervalued by 22.91%vs CMP ₹78.00

MoS: +18.6% (Adequate)Confidence: 48/100 (Moderate)Models: 5 Under, 1 Fair, 2 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹93.85	20%	Under (+20.3%)
Graham Number	Earnings	₹163.16	18%	Under (+109.2%)
Earnings Power	Earnings	₹81.20	12%	Fair (+4.1%)
DCF	Cash Flow	₹114.40	15%	Under (+46.7%)
Net Asset Value	Assets	₹102.13	8%	Under (+30.9%)
EV/EBITDA	Enterprise	₹7.33	10%	Over (-90.6%)
Earnings Yield	Earnings	₹116.00	8%	Under (+48.7%)
ROCE Capital	Returns	₹21.02	8%	Over (-73.1%)
Consensus (8 models)		₹95.87	100%	Undervalued

Key Drivers: EPS CAGR -35.8% drags value — could be higher if earnings stabilize. | Wide model spread (₹7–₹163) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -35.8% · Defaults: P/E=15

*Investments are subject to market risks

Analyst Summary

First Custodian Fund(I) Ltd operates in the Non-Banking Financial Company (NBFC) segment, NSE: 1STCUS | BSE: 511122, current market price is ₹78.00, market cap is 11.7 Cr.. At a glance, ROE is 11.8 %, ROCE is 14.9 %, book value is 102, dividend yield is 1.28 %. The latest intrinsic value estimate is ₹95.87, which is about 22.9% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹3 Cr versus the prior period change of 11.3%, while latest net profit is about ₹2 Cr with a prior-period change of 6.1%. The 52-week range shown on this page is 140/65.0, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisFirst Custodian Fund (India) Ltd. is a Public Limited Listed company incorporated on 07/05/1985 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Num…

This summary is generated from the stock page data available for First Custodian Fund(I) Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

First Custodian Fund(I) Ltd scores 54/100 (Average)

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

Stock Health72/100 · Strong

ROCE 14.9% GoodROE 11.8% AverageD/E 0.01 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money50/100 · Moderate

Promoter holding at 52.6% Stable

Earnings Quality40/100 · Moderate

Working capital: 172 days Capital intensive

Quarterly Momentum40/100 · Moderate

Profit (4Q): -109% YoY Declining

Industry Rank60/100 · Moderate

ROCE 14.9% vs industry 15.8% AverageROE 11.8% vs industry 8.8% Above 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.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:36 am

Market Cap	11.7 Cr.
Current Price	78.0
Intrinsic Value	₹95.87
High / Low	140/65.0
Stock P/E
Book Value	102
Dividend Yield	1.28 %
ROCE	14.9 %
ROE	11.8 %
Face Value	10.0
PEG Ratio	0.00

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for First Custodian Fund(I) Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Minolta Finance Ltd	15.2 Cr.	1.52	1.66/1.00		1.07	0.00 %	0.40 %	0.09 %	1.00
Money Masters Leasing & Finance Ltd	5.72 Cr.	0.57	2.05/0.55	8.54	1.57	0.00 %	4.42 %	3.94 %	1.00
Moneyboxx Finance Ltd	435 Cr.	62.3	123/44.0		40.1	0.00 %	8.65 %	0.58 %	10.0
Moongipa Capital Finance Ltd	12.4 Cr.	13.5	24.7/12.0	10.2	26.6	0.00 %	12.1 %	9.43 %	10.0
Morarka Finance Ltd	20.9 Cr.	46.4	138/42.1	11.3	238	2.16 %	2.46 %	2.17 %	10.0
Industry Average	22,241.21 Cr	369.74		101.56	513.16	0.26%	15.81%	8.84%	8.50

All Competitor Stocks of First Custodian Fund(I) 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
Revenue	0.29	0.16	0.14	0.70	0.99	0.98	0.95	0.79	1.01	0.30	-0.02	0.22	0.14
Interest	0.01	0.09	-0.00	0.12	0.07	0.01	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Expenses	0.12	0.11	0.12	0.17	0.15	0.10	0.16	0.12	0.20	0.26	0.16	0.17	0.15
Financing Profit	0.16	-0.04	0.02	0.41	0.77	0.87	0.79	0.67	0.81	0.04	-0.18	0.05	-0.01
Financing Margin %	55.17%	-25.00%	14.29%	58.57%	77.78%	88.78%	83.16%	84.81%	80.20%	13.33%	900.00%	22.73%	-7.14%
Other Income	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00
Depreciation	0.02	0.02	0.02	0.03	0.02	0.02	0.02	0.02	0.03	0.03	0.03	0.03	0.03
Profit before tax	0.14	-0.06	-0.00	0.38	0.75	0.85	0.77	0.65	0.78	0.01	-0.21	0.02	-0.04
Tax %	7.14%	-0.00%		18.42%	22.67%	10.59%	12.99%	24.62%	23.08%	-0.00%	-0.00%	-0.00%	-0.00%
Net Profit	0.13	-0.06	-0.00	0.32	0.57	0.75	0.66	0.49	0.60	0.01	-0.21	0.02	-0.04
EPS in Rs	0.87	-0.40	-0.00	2.13	3.80	5.00	4.40	3.27	4.00	0.07	-1.40	0.13	-0.27
Gross NPA %
Net NPA %

Last Updated: March 3, 2026, 9:52 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:15 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
Revenue	0.43	0.34	0.21	0.67	1.05	0.56	0.64	0.69	1.86	1.18	2.74	3.05	0.64
Interest	0.02	0.02	0.01	0.01	0.02	0.04	0.03	0.03	0.06	0.14	0.20	0.01	0.00
Expenses	0.26	0.28	0.34	0.34	0.34	0.37	0.33	0.34	0.41	0.43	0.55	0.74	0.74
Financing Profit	0.15	0.04	-0.14	0.32	0.69	0.15	0.28	0.32	1.39	0.61	1.99	2.30	-0.10
Financing Margin %	34.88%	11.76%	-66.67%	47.76%	65.71%	26.79%	43.75%	46.38%	74.73%	51.69%	72.63%	75.41%	-15.62%
Other Income	0.00	0.00	0.00	0.00	0.00	0.26	0.00	0.00	0.00	0.04	0.07	0.00	0.00
Depreciation	0.01	0.03	0.01	0.01	0.05	0.09	0.09	0.07	0.09	0.10	0.10	0.11	0.12
Profit before tax	0.14	0.01	-0.15	0.31	0.64	0.32	0.19	0.25	1.30	0.55	1.96	2.19	-0.22
Tax %	28.57%	-100.00%	20.00%	22.58%	15.62%	31.25%	31.58%	36.00%	23.08%	14.55%	16.84%	21.00%
Net Profit	0.10	0.01	-0.18	0.24	0.54	0.23	0.14	0.16	1.01	0.47	1.64	1.74	-0.22
EPS in Rs	0.67	0.07	-1.20	1.60	3.60	1.53	0.93	1.07	6.73	3.13	10.93	11.60	-1.47
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	31.91%	9.15%	8.62%

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 (%)	-90.00%	-1900.00%	233.33%	125.00%	-57.41%	-39.13%	14.29%	531.25%	-53.47%	248.94%	6.10%
Change in YoY Net Profit Growth (%)	0.00%	-1810.00%	2133.33%	-108.33%	-182.41%	18.28%	53.42%	516.96%	-584.72%	302.40%	-242.84%

First Custodian Fund(I) 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:	25%
5 Years:	37%
3 Years:	18%
TTM:	-43%

Compounded Profit Growth
10 Years:	68%
5 Years:	66%
3 Years:	20%
TTM:	-61%

Stock Price CAGR
10 Years:	25%
5 Years:	25%
3 Years:	32%
1 Year:	-1%

Return on Equity
10 Years:	5%
5 Years:	8%
3 Years:	9%
Last Year:	12%

Last Updated: September 5, 2025, 3:30 pm

Balance Sheet

Last Updated: March 3, 2026, 2:57 am

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	Sep 2025
Equity Capital	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50
Reserves	8.32	8.32	8.14	8.38	8.92	9.15	9.29	9.45	10.45	10.92	12.41	14.00	13.82
Borrowing	-0.00	-0.00	-0.00	-0.00	0.48	0.35	0.22	0.07	0.19	0.15	0.11	0.07	0.05
Other Liabilities	5.17	5.32	2.88	0.29	0.64	0.74	3.85	2.03	2.30	1.08	0.37	0.53	0.92
Total Liabilities	14.99	15.14	12.52	10.17	11.54	11.74	14.86	13.05	14.44	13.65	14.39	16.10	16.29
Fixed Assets	0.02	0.11	0.11	0.10	0.73	0.64	0.55	0.44	0.61	0.51	0.42	0.35	0.31
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	-0.00
Investments	3.36	3.26	2.23	2.62	2.17	1.93	1.91	1.78	3.17	3.86	6.89	11.08	10.63
Other Assets	11.61	11.77	10.18	7.45	8.64	9.17	12.40	10.83	10.66	9.28	7.08	4.67	5.35
Total Assets	14.99	15.14	12.52	10.17	11.54	11.74	14.86	13.05	14.44	13.65	14.39	16.10	16.29

Reserves and Borrowings Chart

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
Cash from Operating Activity +	0.72	-0.32	-0.86	0.49	0.50	1.03	3.26	-1.73	-1.06	-0.50	3.16	1.84
Cash from Investing Activity +	0.45	0.01	1.17	-0.01	-0.19	0.28	-0.17	0.01	-1.19	-0.10	-3.13	-4.11
Cash from Financing Activity +	0.00	0.00	0.00	0.00	0.48	-0.13	-0.14	-0.15	0.13	-0.04	-0.19	-0.19
Net Cash Flow	1.17	-0.31	0.31	0.48	0.79	1.18	2.96	-1.87	-2.12	-0.64	-0.16	-2.46
Free Cash Flow	0.72	-0.34	0.52	0.97	1.31	1.03	3.26	-1.70	-1.31	-0.50	3.15	1.81
CFO/OP	465%	-533%	662%	148%	75%	584%	1,071%	-483%	-68%	-44%	158%	94%

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	0.26	0.28	0.34	0.34	-0.14	0.02	0.11	0.27	0.22	0.28	0.44	0.67

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	4,363.02	6,022.50	6,761.19	566.57	504.05	540.98	496.17	539.57	673.09	974.36	113.23	107.70
Inventory Days
Days Payable
Cash Conversion Cycle	4,363.02	6,022.50	6,761.19	566.57	504.05	540.98	496.17	539.57	673.09	974.36	113.23	107.70
Working Capital Days	1,519.42	2,275.88	4,588.57	1,100.45	726.52	567.05	-1,266.09	-126.96	370.89	887.75	206.48	172.33
ROCE %	1.64%	0.31%	-1.44%	3.28%	6.35%	3.29%	2.00%	2.54%	11.74%	5.26%	15.72%	14.87%

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	52.57%	52.57%	52.57%	52.57%	52.57%	52.57%	52.57%	52.57%	52.57%	52.57%	52.57%	52.57%
Public	47.42%	47.42%	47.42%	47.42%	47.42%	47.43%	47.43%	47.43%	47.44%	47.44%	47.43%	47.43%
No. of Shareholders	2,362	2,362	2,416	2,409	2,454	2,564	2,557	2,585	2,701	2,698	2,784	2,825

Shareholding Pattern Chart

No. of Shareholders

First Custodian Fund(I) 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	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	11.60	10.93	3.13	6.70	1.07
Diluted EPS (Rs.)	11.60	10.93	3.13	6.70	1.07
Cash EPS (Rs.)	12.31	11.60	3.78	7.28	1.56
Book Value[Excl.RevalReserv]/Share (Rs.)	103.34	92.75	82.81	79.69	72.98
Book Value[Incl.RevalReserv]/Share (Rs.)	103.34	92.75	82.81	79.69	72.98
Dividend / Share (Rs.)	1.00	1.00	1.00	0.00	0.00
Revenue From Operations / Share (Rs.)	1.96	4.11	4.12	4.07	4.31
PBDIT / Share (Rs.)	15.42	15.09	5.25	9.61	2.32
PBIT / Share (Rs.)	14.71	14.42	4.59	9.03	1.83
PBT / Share (Rs.)	14.64	13.09	3.69	8.66	1.64
Net Profit / Share (Rs.)	11.60	10.93	3.13	6.70	1.07
PBDIT Margin (%)	788.60	367.40	127.54	236.06	53.94
PBIT Margin (%)	752.32	351.24	111.60	221.77	42.53
PBT Margin (%)	748.69	318.63	89.69	212.75	37.98
Net Profit Margin (%)	592.93	266.22	75.95	164.53	24.79
Return on Networth / Equity (%)	11.22	11.78	3.77	8.40	1.46
Return on Capital Employeed (%)	13.84	15.21	5.51	11.09	2.47
Return On Assets (%)	10.80	11.40	3.43	6.95	1.22
Long Term Debt / Equity (X)	0.00	0.00	0.00	0.00	0.01
Total Debt / Equity (X)	0.00	0.01	0.01	0.01	0.01
Asset Turnover Ratio (%)	0.01	0.04	0.04	0.04	0.04
Current Ratio (X)	98.08	83.06	11.32	6.13	6.34
Quick Ratio (X)	98.08	83.06	11.32	6.13	6.34
Dividend Payout Ratio (NP) (%)	8.62	9.14	0.00	0.00	0.00
Dividend Payout Ratio (CP) (%)	8.12	8.62	0.00	0.00	0.00
Earning Retention Ratio (%)	91.38	90.86	0.00	0.00	0.00
Cash Earning Retention Ratio (%)	91.88	91.38	0.00	0.00	0.00
Interest Coverage Ratio (X)	217.52	11.27	5.82	26.18	11.86
Interest Coverage Ratio (Post Tax) (X)	164.55	9.16	4.47	19.25	6.45
Enterprise Value (Cr.)	12.55	2.51	0.56	2.55	-3.64
EV / Net Operating Revenue (X)	42.79	4.08	0.90	4.17	-5.63
EV / EBITDA (X)	5.43	1.11	0.71	1.77	-10.44
MarketCap / Net Operating Revenue (X)	51.64	12.22	9.23	13.57	6.73
Retention Ratios (%)	91.37	90.85	0.00	0.00	0.00
Price / BV (X)	0.97	0.54	0.45	0.69	0.39
Price / Net Operating Revenue (X)	51.66	12.23	9.23	13.57	6.73
EarningsYield	0.11	0.21	0.08	0.12	0.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

First Custodian Fund (India) Ltd. is a Public Limited Listed company incorporated on 07/05/1985 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L67120WB1985PLC038900 and registration number is 038900. Currently Company is involved in the business activities of Security and commodity contracts brokerage. Company's Total Operating Revenue is Rs. 0.29 Cr. and Equity Capital is Rs. 1.50 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Non-Banking Financial Company (NBFC)	11, Camac Street, Kolkata West Bengal 700017	Contact not found

Management
Name	Position Held
Mr. Surendrakumar Banthia	Chairman
Mr. Giriraj Kumar Dammani	Managing Director
Mr. Manish Banthia	WholeTime Director & CFO

FAQ

What is the intrinsic value of First Custodian Fund(I) Ltd and is it undervalued?

As of 22 April 2026, First Custodian Fund(I) Ltd's intrinsic value is ₹95.87, which is 22.91% higher than the current market price of ₹78.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (11.8 %), book value (₹102), dividend yield (1.28 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of First Custodian Fund(I) Ltd?

First Custodian Fund(I) Ltd is trading at ₹78.00 as of 22 April 2026, with a FY2026-2027 high of ₹140 and low of ₹65.0. The stock is currently near its 52-week low. Market cap stands at ₹11.7 Cr..

How does First Custodian Fund(I) Ltd's P/E ratio compare to its industry?

First Custodian Fund(I) Ltd has a P/E ratio of , which is below the industry average of 101.56. This is broadly in line with or below the industry average.

Is First Custodian Fund(I) Ltd financially healthy?

Key indicators for First Custodian Fund(I) Ltd: ROCE of 14.9 % is moderate. Dividend yield is 1.28 %.

Is First Custodian Fund(I) Ltd profitable and how is the profit trend?

First Custodian Fund(I) Ltd reported a net profit of ₹2 Cr in Mar 2025 on revenue of ₹3 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows an improving trend.

Does First Custodian Fund(I) Ltd pay dividends?

First Custodian Fund(I) Ltd has a dividend yield of 1.28 % at the current price of ₹78.00. The company pays dividends, though the yield is modest.