SecUR Credentials Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 14, 2024, 12:15 am

Market Cap	14.8 Cr.
Current Price	3.57
High / Low	25.4/3.04
Stock P/E	3.07
Book Value	12.0
Dividend Yield	0.00 %
ROCE	21.2 %
ROE	18.8 %
Face Value	10.0
PEG Ratio	0.05

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for SecUR Credentials Ltd

Competitors of SecUR Credentials Ltd

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
IMEC Services Ltd	11.0 Cr.	58.2	58.2/4.13	15.8	8.79	0.00 %	2.47 %	1.85 %	10.0
Focus Business Solution Ltd	42.8 Cr.	93.1	105/59.2	87.4	14.7	0.11 %	16.1 %	13.5 %	10.0
EKI Energy Services Ltd	787 Cr.	285	449/207		153	0.00 %	24.0 %	26.2 %	10.0
CMS Info Systems Ltd	7,984 Cr.	490	616/355	21.4	124	1.17 %	27.5 %	20.5 %	10.0
Ashram Online.Com Ltd	7.08 Cr.	5.90	8.02/4.41	236	10.6	0.00 %	0.24 %	0.08 %	10.0
Industry Average	14,800.00 Cr	1,131.35		100.46	260.00	0.35%	15.24%	13.36%	9.05

All Competitor Stocks of SecUR Credentials Ltd

Quarterly Result

Month	Jun 2017	Sep 2017	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	5.71	6.77	8.27	10.05	10.92	22.10	12.37	11.42	12.00	14.19	10.01	7.01	7.04
Expenses	3.92	6.01	6.37	8.09	9.41	19.65	8.98	6.94	5.55	12.86	7.18	5.42	5.70
Operating Profit	1.79	0.76	1.90	1.96	1.51	2.45	3.39	4.48	6.45	1.33	2.83	1.59	1.34
OPM %	31.35%	11.23%	22.97%	19.50%	13.83%	11.09%	27.41%	39.23%	53.75%	9.37%	28.27%	22.68%	19.03%
Other Income	0.00	0.07	0.02	0.24	0.05	0.13	0.04	0.74	0.08	0.49	0.13	0.41	0.84
Interest	0.02	0.11	0.59	0.93	0.29	0.95	0.73	0.62	0.59	0.94	0.55	0.67	0.61
Depreciation	0.05	0.02	0.47	0.84	0.73	0.77	0.83	0.94	0.95	0.87	0.88	0.89	0.83
Profit before tax	1.72	0.70	0.86	0.43	0.54	0.86	1.87	3.66	4.99	0.01	1.53	0.44	0.74
Tax %	27.33%	30.00%	44.19%	-58.14%	50.00%	-4.65%	59.89%	16.67%	26.25%	-1,200.00%	34.64%	-638.64%	44.59%
Net Profit	1.25	0.48	0.48	0.69	0.27	0.91	0.76	3.06	3.68	0.14	1.01	3.25	0.41
EPS in Rs	1.49	0.17	0.12	0.17	0.07	0.22	0.18	0.74	0.90	0.03	0.25	0.79	0.10

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2011	Mar 2012	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	0.69	0.83	0.00	4.41	9.80	37.64	60.04	54.74	42.60	51.33	46.25	38.25
Expenses	0.65	0.77	0.08	4.34	7.07	29.66	48.27	46.99	34.81	43.51	30.57	31.16
Operating Profit	0.04	0.06	-0.08	0.07	2.73	7.98	11.77	7.75	7.79	7.82	15.68	7.09
OPM %	5.80%	7.23%		1.59%	27.86%	21.20%	19.60%	14.16%	18.29%	15.23%	33.90%	18.54%
Other Income	0.02	0.00	0.00	0.00	0.00	0.16	0.29	0.23	-2.59	0.44	1.34	1.87
Interest	0.00	0.00	0.00	0.00	0.13	0.34	1.97	3.89	4.21	2.76	2.89	2.77
Depreciation	0.01	0.01	0.00	0.00	0.04	0.61	2.04	3.06	2.92	2.80	3.58	3.47
Profit before tax	0.05	0.05	-0.08	0.07	2.56	7.19	8.05	1.03	-1.93	2.70	10.55	2.72
Tax %	20.00%	40.00%	0.00%	71.43%	32.81%	28.23%	29.81%	66.02%	12.44%	39.63%	26.26%
Net Profit	0.03	0.04	-0.09	0.02	1.71	5.16	5.65	0.36	-2.16	1.62	7.79	4.81
EPS in Rs						1.25	1.37	0.09	-0.52	0.39	1.90	1.17
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.33%	0.00%	0.00%	0.00%	0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2011-2012	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023
YoY Net Profit Growth (%)	33.33%	122.22%	8450.00%	201.75%	9.50%	-93.63%	-700.00%	175.00%	380.86%
Change in YoY Net Profit Growth (%)	0.00%	88.89%	8327.78%	-8248.25%	-192.26%	-103.12%	-606.37%	875.00%	205.86%

SecUR Credentials Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2011-2012 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	4%
3 Years:	-5%
TTM:	-34%

Compounded Profit Growth
10 Years:	%
5 Years:	9%
3 Years:	179%
TTM:	-43%

Stock Price CAGR
10 Years:	%
5 Years:	2%
3 Years:	-21%
1 Year:	-82%

Return on Equity
10 Years:	%
5 Years:	7%
3 Years:	6%
Last Year:	19%

Last Updated: Unknown

Balance Sheet

Last Updated: September 15, 2024, 2:48 pm

Month	Mar 2011	Mar 2012	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	0.01	0.01	0.01	0.01	0.01	4.89	4.89	4.89	4.89	4.89	41.06	41.06
Reserves	0.27	0.29	0.20	0.21	2.02	33.66	39.30	38.97	36.81	32.69	4.05	8.30
Borrowings	1.21	0.34	0.61	0.16	0.00	3.97	26.93	26.69	17.64	22.97	21.29	22.81
Other Liabilities	0.13	0.27	0.13	0.40	6.38	5.77	17.71	21.82	24.79	36.90	26.44	20.40
Total Liabilities	1.62	0.91	0.95	0.78	8.41	48.29	88.83	92.37	84.13	97.45	92.84	92.57
Fixed Assets	0.04	0.03	0.01	0.00	0.31	12.74	33.67	30.88	12.32	16.82	15.31	13.80
CWIP	0.00	0.00	0.00	0.00	4.54	5.27	0.06	0.08	0.00	1.99	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.03	0.02	0.02	0.02
Other Assets	1.58	0.88	0.94	0.78	3.56	30.28	55.10	61.41	71.78	78.62	77.51	78.75
Total Assets	1.62	0.91	0.95	0.78	8.41	48.29	88.83	92.37	84.13	97.45	92.84	92.57

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2011	Mar 2012	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity +	0.00	0.00	5.52	-14.17	4.68	4.28	-3.80	2.14	8.83
Cash from Investing Activity +	0.00	0.00	-4.89	-15.22	-17.85	-0.38	11.63	-5.65	-0.08
Cash from Financing Activity +	0.00	0.00	-0.29	33.55	15.01	-3.93	-13.03	3.39	-8.85
Net Cash Flow	0.00	0.00	0.35	4.16	1.83	-0.03	-5.19	-0.12	-0.10

Free Cash Flow

Month	Mar 2011	Mar 2012	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Free Cash Flow	-1.17	-0.28	-0.69	-0.09	2.73	4.01	-15.16	-18.94	-9.85	-15.15	-5.61

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 2011	Mar 2012	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	338.55	0.00	0.00	75.61	148.46	142.07	164.10	346.32	278.03	299.02
Inventory Days
Days Payable
Cash Conversion Cycle	338.55	0.00	0.00	75.61	148.46	142.07	164.10	346.32	278.03	299.02
Working Capital Days	682.39	228.67	29.80	-118.07	167.18	126.69	134.62	280.95	238.78	337.62
ROCE %		4.69%	11.67%	223.24%	33.80%	17.63%	6.95%	9.64%	9.11%	21.17%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2020	Sep 2020	Mar 2021	Sep 2021	Mar 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoters	61.59%	61.59%	61.59%	61.59%	5.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.37%	0.23%	0.00%	0.00%	0.00%	0.00%
Public	38.41%	38.41%	38.40%	38.41%	94.91%	100.00%	99.63%	99.76%	99.99%	100.00%	99.99%	100.00%
No. of Shareholders	738	751	724	710	761	670	4,351	5,995	6,233	6,750	8,501	9,626

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 22	Mar 21
FaceValue	10.00	10.00
Basic EPS (Rs.)	4.20	-4.42
Diluted EPS (Rs.)	4.20	-4.42
Cash EPS (Rs.)	8.36	1.55
Book Value[Excl.RevalReserv]/Share (Rs.)	89.51	85.31
Book Value[Incl.RevalReserv]/Share (Rs.)	89.51	85.31
Revenue From Operations / Share (Rs.)	105.02	87.16
PBDIT / Share (Rs.)	15.83	18.79
PBIT / Share (Rs.)	11.67	12.82
PBT / Share (Rs.)	6.99	-3.94
Net Profit / Share (Rs.)	4.20	-4.42
NP After MI And SOA / Share (Rs.)	4.20	-4.42
PBDIT Margin (%)	15.07	21.55
PBIT Margin (%)	11.11	14.70
PBT Margin (%)	6.65	-4.51
Net Profit Margin (%)	3.99	-5.06
NP After MI And SOA Margin (%)	3.99	-5.06
Return on Networth / Equity (%)	4.69	-5.17
Return on Capital Employeed (%)	10.95	14.22
Return On Assets (%)	2.08	-2.56
Long Term Debt / Equity (X)	0.18	0.05
Total Debt / Equity (X)	0.42	0.42
Asset Turnover Ratio (%)	0.56	0.00
Current Ratio (X)	1.61	1.55
Quick Ratio (X)	1.61	1.55
Interest Coverage Ratio (X)	3.38	2.18
Interest Coverage Ratio (Post Tax) (X)	1.90	1.43
Enterprise Value (Cr.)	73.97	21.26
EV / Net Operating Revenue (X)	1.44	0.49
EV / EBITDA (X)	9.56	2.31
MarketCap / Net Operating Revenue (X)	1.14	0.15
Price / BV (X)	1.33	0.15
Price / Net Operating Revenue (X)	1.14	0.15
EarningsYield	0.03	-0.33

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of SecUR Credentials Ltd as of December 27, 2024 is: 7.06

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 27, 2024, SecUR Credentials Ltd is Undervalued by 97.76% compared to the current share price 3.57

Intrinsic Value of SecUR Credentials Ltd as of December 27, 2024 is: 11.79

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 27, 2024, SecUR Credentials Ltd is Undervalued by 230.25% compared to the current share price 3.57

Last 5 Year EPS CAGR: 67.03%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 30.72%, which is a positive sign. The company has higher reserves (16.40 cr) compared to borrowings (12.05 cr), indicating strong financial stability. The company has shown consistent growth in sales (28.88 cr) and profit (2.75 cr) over the years.	The stock has a high average Working Capital Days of 191.69, which may not be favorable. The stock has a high average Cash Conversion Cycle of 162.92, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in SecUR Credentials Ltd:
1. Net Profit Margin: 3.99%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 10.95% (Industry Average ROCE: 15.24%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 4.69% (Industry Average ROE: 13.36%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 1.9
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.61
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 3.07 (Industry average Stock P/E: 100.46)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.42
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

SecUR Credentials Ltd. is a Public Limited Listed company incorporated on 14/08/2001 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L74110MH2001PLC133050 and registration number is 133050. Currently company belongs to the Industry of Services - Others. Company’s Total Operating Revenue is Rs. 51.34 Cr. and Equity Capital is Rs. 4.89 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Services - Others	8th Floor, A Wing, Prism Tower, Mumbai Maharashtra 400064	complianceofficer@secur.co.in http://www.secur.co.in

Management
Name	Position Held
Mr. Prateek Jain	Independent Director
Mr. Rahul Suresh Belwalkar	Managing Director
Mr. Amit Kumar Bharti	Independent Director
Mr. Mithun Lalitkumar Kothari	Independent Director
Ms. Shireen Khan	Independent Director
Mr. Jaykrishan Darji	Independent Director
Mr. Ashish Ramesh Mahendrakar	Executive Director

FAQ

What is the latest intrinsic value of SecUR Credentials Ltd?

The latest intrinsic value of SecUR Credentials Ltd as on 15 December 2024 is ₹7.06, which is 97.76% higher than the current market price of ₹3.57. The stock has a market capitalization of 14.8 Cr. and recorded a high/low of ₹25.4/3.04 during the current fiscal year 2024-2025. As of Sep 2023, the company has reserves of ₹8.30 Cr and total liabilities of ₹92.57 Cr.

What is the Market Cap of SecUR Credentials Ltd?

The Market Cap of SecUR Credentials Ltd is 14.8 Cr..

What is the current Stock Price of SecUR Credentials Ltd as on 15 December 2024?

The current stock price of SecUR Credentials Ltd as on 15 December 2024 is 3.57.

What is the High / Low of SecUR Credentials Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of SecUR Credentials Ltd stocks is 25.4/3.04.

What is the Stock P/E of SecUR Credentials Ltd?

The Stock P/E of SecUR Credentials Ltd is 3.07.

What is the Book Value of SecUR Credentials Ltd?

The Book Value of SecUR Credentials Ltd is 12.0.

What is the Dividend Yield of SecUR Credentials Ltd?

The Dividend Yield of SecUR Credentials Ltd is 0.00 %.

What is the ROCE of SecUR Credentials Ltd?

The ROCE of SecUR Credentials Ltd is 21.2 %.

What is the ROE of SecUR Credentials Ltd?

The ROE of SecUR Credentials Ltd is 18.8 %.

What is the Face Value of SecUR Credentials Ltd?

The Face Value of SecUR Credentials Ltd is 10.0.

Share Price and Basic Stock Data

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

Competitors of SecUR Credentials Ltd

Quarterly Result

Quarterly Chart

Profit & Loss - Annual Report

Profit & Loss Yearly Chart

YoY Net Profit Growth

Growth

Balance Sheet

Reserves and Borrowings Chart

Cash Flow

Free Cash Flow

Free Cash Flow Chart

Financial Efficiency Indicators

Financial Efficiency Indicators Chart

Share Holding Pattern

Shareholding Pattern Chart

No. of Shareholders

ROCE Trend

EPS Trend

Key Financial Ratios

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Strength and Weakness

Stock Analysis

About the Company - Qualitative Analysis

FAQ

What is the latest intrinsic value of SecUR Credentials Ltd?

What is the Market Cap of SecUR Credentials Ltd?

What is the current Stock Price of SecUR Credentials Ltd as on 15 December 2024?

What is the High / Low of SecUR Credentials Ltd stocks in FY 2024-2025?

What is the Stock P/E of SecUR Credentials Ltd?

What is the Book Value of SecUR Credentials Ltd?

What is the Dividend Yield of SecUR Credentials Ltd?

What is the ROCE of SecUR Credentials Ltd?

What is the ROE of SecUR Credentials Ltd?

What is the Face Value of SecUR Credentials Ltd?

About the Author

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