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Last Updated: March 17, 2026, 5:15 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 530055 | NSE: HRMNYCP

Harmony Capital Services Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹16.74Overvalued by 80.19%vs CMP ₹84.50

P/E (15.0) × ROE (57.7%) × BV (₹2.37) × DY (2.00%)

Defaults: P/E=15

₹10.22Overvalued by 87.91%vs CMP ₹84.50
MoS: -726.8% (Negative)Confidence: 50/100 (Moderate)Models: All 2: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹14.9363%Over (-82.3%)
Net Asset ValueAssets₹2.3638%Over (-97.2%)
Consensus (2 models)₹10.22100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -10.8% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

55
Harmony Capital Services Ltd scores 55/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health64/100 · Moderate
ROCE 57.7% ExcellentROE 57.7% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent
Smart Money35/100 · Weak
Promoter decreased by 73.04% Caution
Earnings Quality50/100 · Moderate
OPM contracting (3% → -450%) DecliningWorking capital: 0 days (improving) Efficient
Quarterly Momentum50/100 · Moderate
Industry Rank65/100 · Strong
ROCE 57.7% vs industry 21.7% Above peersROE 57.7% vs industry 14.2% Above peers3Y sales CAGR: -100% Shrinking

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: March 17, 2026, 5:15 am

Market Cap 25.4 Cr.
Current Price 84.5
Intrinsic Value₹10.22
High / Low 84.5/42.4
Stock P/E
Book Value 2.37
Dividend Yield0.00 %
ROCE57.7 %
ROE57.7 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for Harmony Capital Services Ltd

Competitors

Stock Name Market Cap Current Price High / Low Stock P/E Book Value Dividend Yield ROCE ROE Face Value
Modern Shares & Stockbrokers Ltd 8.02 Cr. 27.4 53.0/24.738.2 44.40.00 %3.32 %1.74 % 10.0
Monarch Networth Capital Ltd 2,109 Cr. 266 399/23513.2 1110.38 %33.3 %26.2 % 10.0
Monotype India Ltd 28.1 Cr. 0.40 0.84/0.374.49 0.030.00 %286 %% 1.00
Multipurpose Trading & Agencies Ltd 3.98 Cr. 8.05 11.5/7.58 9.250.00 %3.68 %3.38 % 10.0
Munoth Financial Services Ltd 9.17 Cr. 17.8 69.9/17.8 19.90.00 %2.41 %3.38 % 10.0
Industry Average6,725.79 Cr1,029.6498.514,364.490.43%21.71%14.20%7.23

All Competitor Stocks of Harmony Capital Services Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Expenses 0.010.220.050.000.000.040.110.160.140.190.010.020.02
Operating Profit -0.01-0.22-0.050.000.00-0.04-0.11-0.16-0.14-0.19-0.01-0.02-0.02
OPM %
Other Income 0.010.350.000.000.000.010.000.000.000.000.000.000.00
Interest 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 0.000.13-0.050.000.00-0.03-0.11-0.16-0.14-0.19-0.01-0.02-0.02
Tax % 0.00%0.00%-66.67%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit 0.000.13-0.050.000.000.00-0.11-0.16-0.14-0.19-0.01-0.02-0.02
EPS in Rs 0.000.43-0.170.000.000.00-0.37-0.53-0.47-0.63-0.03-0.07-0.07

Last Updated: March 3, 2026, 9:18 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 7:00 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 0.030.27-0.080.130.340.11-0.040.000.050.380.010.000.00
Expenses 0.030.070.060.070.120.090.060.060.060.280.100.600.24
Operating Profit 0.000.20-0.140.060.220.02-0.10-0.06-0.010.10-0.09-0.60-0.24
OPM % 0.00%74.07%46.15%64.71%18.18%-20.00%26.32%-900.00%
Other Income 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Interest 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 0.000.20-0.140.060.220.02-0.10-0.06-0.010.10-0.09-0.60-0.24
Tax % 15.00%0.00%16.67%18.18%0.00%0.00%0.00%0.00%0.00%-22.22%0.00%
Net Profit 0.000.16-0.140.050.180.02-0.10-0.06-0.010.10-0.07-0.60-0.24
EPS in Rs 0.000.53-0.470.170.600.07-0.33-0.20-0.030.33-0.23-2.00-0.80
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

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-187.50%135.71%260.00%-88.89%-600.00%40.00%83.33%1100.00%-170.00%-757.14%
Change in YoY Net Profit Growth (%)0.00%323.21%124.29%-348.89%-511.11%640.00%43.33%1016.67%-1270.00%-587.14%

Harmony Capital Services Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: October 10, 2025, 4:14 pm

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 -1.81-1.64-1.78-1.73-1.55-1.53-1.62-1.68-1.69-1.59-1.66-2.26-2.29
Borrowings 0.000.000.000.000.000.000.000.000.020.000.000.000.05
Other Liabilities 0.010.040.060.040.050.000.010.000.000.020.560.430.40
Total Liabilities 1.201.401.281.311.501.471.391.321.331.431.901.171.16
Fixed Assets 0.000.000.000.000.000.000.000.000.000.000.000.000.00
CWIP 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments 1.051.241.161.001.411.431.251.211.220.000.000.000.00
Other Assets 0.150.160.120.310.090.040.140.110.111.431.901.171.16
Total Assets 1.201.401.281.311.501.471.391.321.331.431.901.171.16

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -0.110.00-0.040.22-0.220.010.07-0.02-0.040.580.67-0.41
Cash from Investing Activity + 0.000.000.000.000.000.000.000.000.000.00-0.790.00
Cash from Financing Activity + 0.00-0.03-0.010.000.000.000.000.000.02-0.020.000.00
Net Cash Flow -0.11-0.04-0.050.22-0.220.010.07-0.02-0.020.57-0.12-0.41
Free Cash Flow -0.110.00-0.040.22-0.220.010.07-0.02-0.040.580.67-0.41
CFO/OP 0%36%367%-77%50%-70%33%400%580%-744%68%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.000.20-0.140.060.220.02-0.10-0.06-0.030.10-0.09-0.60

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 0.000.000.000.000.000.000.000.00220.920.00
Inventory Days -182.500.00
Days Payable
Cash Conversion Cycle 0.000.00-182.500.000.000.000.000.00220.920.00
Working Capital Days 608.3367.59228.12112.3132.21132.73365.00511.00768.4230,295.00
ROCE %0.00%15.69%-10.85%4.82%16.18%1.37%-7.02%-4.44%-0.75%7.30%-6.55%-57.69%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 54.41%73.06%73.06%73.04%73.04%73.04%73.04%73.04%73.04%73.04%73.04%0.00%
Public 45.60%26.94%26.94%26.98%26.97%26.96%26.96%26.96%26.96%26.96%26.96%100.00%
No. of Shareholders 1,4181,4051,4011,4731,4781,4611,4611,4591,4591,4591,4591,452

Shareholding Pattern Chart

No. of Shareholders

Harmony Capital Services Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -2.02-0.220.33-0.03-0.19
Diluted EPS (Rs.) -2.02-0.220.33-0.03-0.19
Cash EPS (Rs.) -2.02-0.220.32-0.02-0.19
Book Value[Excl.RevalReserv]/Share (Rs.) 2.454.474.694.374.39
Book Value[Incl.RevalReserv]/Share (Rs.) 2.454.474.694.374.39
PBDIT / Share (Rs.) -2.02-0.300.32-0.02-0.19
PBIT / Share (Rs.) -2.02-0.300.32-0.02-0.19
PBT / Share (Rs.) -2.02-0.300.32-0.02-0.19
Net Profit / Share (Rs.) -2.02-0.220.32-0.02-0.19
Return on Networth / Equity (%) -82.08-5.016.93-0.59-4.36
Return on Capital Employeed (%) -82.08-6.866.92-0.59-4.37
Return On Assets (%) -51.68-3.536.85-0.58-4.34
Long Term Debt / Equity (X) 0.000.000.000.010.00
Total Debt / Equity (X) 0.000.000.000.010.00
Current Ratio (X) 2.643.3592.61247.46272.04
Quick Ratio (X) 2.643.3592.61247.46272.04
Enterprise Value (Cr.) 18.0017.523.172.871.28
EV / EBITDA (X) -29.76-191.7232.41-373.88-22.29
Price / BV (X) 24.5413.432.682.201.02
EarningsYield -0.030.000.020.00-0.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Harmony Capital Services Ltd. is a Public Limited Listed company incorporated on 19/09/1994 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L67120MH1994PLC288180 and registration number is 288180. Currently company belongs to the Industry of Finance & Investments. Company's Total Operating Revenue is Rs. 0.00 Cr. and Equity Capital is Rs. 3.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Finance & InvestmentsA-405, 4th Floor, A Wing, 215 Atrium Co-Operative Premises Society Ltd., Mumbai Maharashtra 400093Contact not found
Management
NamePosition Held
Mr. Jatinder BaggaManaging Director
Mr. Sankalp KawatraNon Executive Director
Ms. Subimol Abhilash MuraliInd. Non-Executive Director
Mr. Chetan Balubhai PatelInd. Non-Executive Director

FAQ

What is the intrinsic value of Harmony Capital Services Ltd and is it undervalued?

As of 09 April 2026, Harmony Capital Services Ltd's intrinsic value is ₹10.22, which is 87.91% lower than the current market price of ₹84.50, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (57.7 %), book value (₹2.37), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Harmony Capital Services Ltd?

Harmony Capital Services Ltd is trading at ₹84.50 as of 09 April 2026, with a FY2026-2027 high of ₹84.5 and low of ₹42.4. The stock is currently near its 52-week high. Market cap stands at ₹25.4 Cr..

How does Harmony Capital Services Ltd's P/E ratio compare to its industry?

Harmony Capital Services Ltd has a P/E ratio of , which is below the industry average of 98.51. This is broadly in line with or below the industry average.

Is Harmony Capital Services Ltd financially healthy?

Key indicators for Harmony Capital Services Ltd: ROCE of 57.7 % indicates efficient capital utilization; ROE of 57.7 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Harmony Capital Services Ltd profitable and how is the profit trend?

Harmony Capital Services Ltd reported a net profit of ₹-1 Cr in Mar 2025. Compared to ₹0 Cr in Mar 2022, the net profit shows a mixed trend.

Does Harmony Capital Services Ltd pay dividends?

Harmony Capital Services Ltd has a dividend yield of 0.00 % at the current price of ₹84.50. 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 Harmony Capital Services 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