Saraswati Commercial (India) Ltd.
•Market Cap₹ 1,099 Cr.
Current Price
High / Low₹ 14,400 / 9,000
Stock P/E8.3
Book Value₹ 10,547
Price to Book1.36
Dividend Yield0.00 %
ROCE8.3 %
ROE6.5 %
Face Value₹ 10
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ABOUT
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
Confidence
View full sector analysis →84%
PROS
- Comfortable capital adequacy - CAR of 81.8%
- Solid return on assets for a lender - ROA of 5.7%
- Asset quality is healthy - gross NPA of just 0.0%
- Latest quarter profit grew 169.6% YoY, showing strong momentum
- Company has delivered good sales growth of 59.4% CAGR over last 5 years
- Operating margins have improved to 93.4% from 67.6%
CONS
- Company has a low return on equity of 9.2% over last 3 years
- Company has a low return on capital employed of 11.6%
- Thin net interest margin of 0.0%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BAJFINANCE | 1045.10 | 32.05 | 650674.48 | 0.57 | 6080.60 | 27.60 | 23165.45 | 20.37 | 10.87 | 70.70 |
| SHRIRAMFIN | 1049.00 | 21.81 | 246827.97 | 1.03 | 3452.77 | 59.90 | 13400.43 | 17.46 | 11.49 | 74.63 |
| CHOLAFIN | 1858.00 | 27.59 | 158685.46 | 0.11 | 1656.22 | 45.56 | 8856.29 | 21.89 | 9.70 | 70.07 |
| TATACAP | 371.70 | 29.20 | 157781.78 | 0.15 | 16281.80 | 1464.16 | 88219.30 | 1051.00 | 8.66 | 75.72 |
| JIOFIN | 237.70 | 75.95 | 156956.68 | 0.25 | 830.25 | 155.73 | 2004.47 | 227.28 | 2.11 | 69.71 |
| BAJAJHLDNG | 11150.00 | 14.01 | 124092.26 | 1.75 | 2708.08 | -92.27 | 394.33 | 23.34 | 14.81 | 684.72 |
| MUTHOOTFIN | 2935.00 | 10.36 | 117831.00 | 1.02 | 2824.84 | 43.08 | 8671.60 | 36.25 | 15.87 | 83.76 |
| ABCAPITAL | 399.10 | 26.62 | 109254.11 | 0.00 | 1223.85 | 43.85 | 12179.54 | 137.84 | 8.82 | 41.91 |
| LTF | 315.00 | 24.81 | 78950.11 | 0.87 | 915.99 | 30.70 | 5212.92 | 22.38 | 8.54 | 62.13 |
| SBICARD | 657.00 | 27.48 | 62522.95 | 0.38 | 664.44 | 19.51 | 5040.55 | 7.60 | 11.75 | 29.83 |
| HDBFS | 692.90 | 26.45 | 57563.70 | 0.58 | 785.20 | 38.31 | 4937.90 | 18.71 | 9.09 | 57.98 |
| ZSARACOM | 10024.25 | 8.30 | 1098.59 | 0.00 | 63.56 | 169.54 | 75.58 | 140.18 | 8.25 | 98.37 |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 | 29 | 40 | 30 | 68 | 78 | -45 | -26 | 31 | 73 | 33 | -16 | 76 | |
| 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 2 | 1 | 1 | 2 | 1 | |
| Operating Profit | 29 | 28 | 39 | 29 | 67 | 77 | -46 | -28 | 30 | 72 | 31 | -18 | 74 |
| OPM % | 97.66% | 97.86% | 97.73% | 96.74% | 98.05% | 97.96% | 101.69% | 104.91% | 94.25% | 98.89% | 95.72% | 109.71% | 98.38% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 28 | 28 | 39 | 29 | 67 | 77 | -46 | -28 | 29 | 72 | 30 | -19 | 74 | |
| Tax % | 13.92% | 13.89% | 14.37% | 21.65% | 21.51% | 17.28% | 14.85% | 18.90% | 19.16% | 15.99% | 17.64% | 12.59% | 14.51% |
| Net Profit | 24 | 24 | 33 | 22 | 52 | 63 | -39 | -23 | 24 | 60 | 25 | -16 | 64 |
| 237 | 231 | 323 | 217 | 509 | 615 | -383 | -222 | 259 | 615 | 233 | -149 | 58 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 83 | 37 | 85 | 17 | 7 | 52 | 125 | 44 | 128 | 75 | 165 | |
| 75 | 34 | 71 | 16 | 20 | 26 | 41 | 23 | 3 | 5 | 5 | |
| Operating Profit | 8 | 4 | 14 | 1 | -13 | 26 | 85 | 21 | 125 | 70 | 160 |
| OPM % | 9.90% | 9.91% | 16.36% | 4.97% | -175.56% | 50.45% | 67.57% | 47.43% | 97.53% | 93.36% | 96.95% |
| 10 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Interest | 4 | 3 | 0 | 0 | 0 | 2 | 1 | 2 | 2 | 2 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 14 | 5 | 14 | 1 | -13 | 25 | 84 | 19 | 123 | 69 | 158 |
| Tax % | 0.03% | -1.65% | -16.89% | 51.01% | 26.36% | 14.33% | 22.41% | 38.81% | 15.85% | 22.37% | 16.01% |
| Net Profit | 14 | 5 | 16 | 0 | -10 | 21 | 65 | 12 | 104 | 53 | 132 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -96.00 | 213.16 | 631.25 | 113.25 | 1008.89 | 487.37 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -2%
- 5 Years:
- 59%
- 3 Years:
- -16%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 23%
- 5 Years:
- —
- 3 Years:
- -6%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 12%
- 5 Years:
- 11%
- 3 Years:
- 9%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 35 | 115 | 128 | 242 | 155 | 275 | 421 | 432 | 689 | 958 | |
| 42 | 8 | 32 | 0 | 10 | 5 | 28 | 22 | 0 | 43 | |
| Trade Payables | 0 | 8 | 0 | 0 | 0 | 1 | 0 | 0 | 13 | 0 |
| 6 | 2 | 2 | 7 | -4 | 13 | 40 | 47 | 67 | 107 | |
| Total Liabilities | 84 | 134 | 163 | 251 | 162 | 295 | 489 | 503 | 771 | 1,109 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 51 | 97 | 119 | 235 | 135 | 286 | 465 | 480 | 749 | 1,069 | |
| 19 | 1 | 7 | 8 | 14 | 4 | 10 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | |
| Cash & Bank | 0 | 2 | 0 | 0 | 8 | 0 | 2 | 0 | 3 | 23 |
| 14 | 34 | 36 | 8 | 6 | 5 | 13 | 23 | 17 | 18 | |
| Total Assets | 84 | 134 | 163 | 251 | 162 | 295 | 489 | 503 | 771 | 1,109 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -14 | -23 | -5 | 16 | -17 | -7 | 57 | 39 | 33 | 9 | |
| Cash from Investing | 20 | 27 | 8 | 16 | 16 | 4 | -81 | -22 | -7 | -108 |
| Cash from Financing | -4 | -3 | -3 | -31 | 9 | -7 | 33 | -7 | -24 | 120 |
| 0 | 1 | -1 | -0 | 7 | -7 | 2 | -2 | 2 | 20 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 216.14 | 81.63 | 159.52 | 3.65 | -96.00 | 213.17 | 629.95 | 113.25 | 1008.89 | 487.37 |
| Book Value (₹) | 549.95 | 1807.98 | 1290.47 | 2425.35 | 1554.47 | 2756.80 | 4099.20 | 4208.79 | 6702.69 | 8755.45 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 216.15 | 82.12 | 159.74 | 3.87 | -95.87 | 213.27 | 630.05 | 113.37 | 1008.95 | 487.50 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 21.77% | 21.47% | 16.41% | 5.39% | -173.96% | 50.53% | 67.59% | 47.45% | 97.53% | 93.36% |
| Net Margin % | 16.70% | 14.00% | 18.69% | 2.14% | -131.11% | 40.80% | 51.87% | 26.57% | 80.96% | 70.82% |
| ROE % | 48.91% | 6.92% | 13.04% | 0.20% | -4.82% | 9.89% | 18.59% | 2.73% | 18.49% | 6.47% |
| ROCE % | 27.50% | 7.92% | 9.82% | 0.44% | -6.24% | 11.83% | 23.14% | 4.60% | 21.84% | 8.32% |
| 19.13% | 4.81% | 10.78% | 0.18% | -4.66% | 9.35% | 16.55% | 2.35% | 16.31% | 5.68% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 15 | 43 | 0 | 0 | 3 | 0 | 3 | 0 | 4 | 0 |
| Inventory Days | 71 | 97 | 16 | 153 | 539 | 63 | 20 | 41 | 0 | 1 |
| Payable Days | 0 | 59 | 21 | 1 | 0 | 6 | 4 | 1 | 0 | 0 |
| 86 | 82 | -4 | 151 | 541 | 56 | 19 | 40 | 4 | 1 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 1.20x | 0.07x | 0.25x | 0.00x | 0.06x | 0.02x | 0.07x | 0.05x | 0.00x | 0.04x |
| Interest Coverage (x) | 4.29x | 2.81x | 41.59x | 5.93x | -44.54x | 17.46x | 93.02x | 11.84x | 74.35x | 44.21x |
| 1.18x | 1.91x | 2.01x | 17.89x | 2.24x | 1.01x | 2.19x | 1.43x | 4.44x | 3.97x | |
| GROWTH | ||||||||||
| Revenue Growth % | -12.81% | -54.97% | 128.97% | -80.03% | -57.05% | 613.62% | 139.15% | -64.90% | 192.30% | -41.24% |
| Operating Profit Growth % | 38.14% | -55.59% | 74.98% | -93.44% | -1486.63% | 307.29% | 219.89% | -75.36% | 500.84% | -43.75% |
| Net Profit Growth % | 104.65% | -62.23% | 205.63% | -97.71% | -2726.76% | 322.05% | 204.08% | -82.02% | 790.83% | -48.60% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 790.83% | -51.69% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 5.54x | 24.41x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.83x | 1.36x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.58x | 18.80x |
Documents
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