Annual reportSep 2026
Sep 2026 · Letter To Members - Regulation 30 Of The SEBI (LODR) Regulations, 2015. 31 Aug - 43rd AGM on September 24, 2026; annual report and notice shared with shareholders.
Source: Bse
Saraswati Commercial India Limited (ZSARACOM)
Small CapFinancial Services stocks · Small cap · NSE
Saraswati Commercial India Limited operates in Investment, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹9,790
-15.00 · -0.15%
Market cap ₹1,080 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 05:50 pm ISTDetails
Quote19 Oct, 05:50 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result12 Aug, 06:07 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Financial Services P/E 17.0 (n=243)
Technical timing lens
Trend score and candlestick chart
44NeutralSMA20 -8.9% / mo · MACD + · near 52W low
Stock trend: 44
Sector RS: 44
Sector 3M: -5.8% vs Nifty 500 -5.6%
Financial Services FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ZSARACOMD candles · FIT view-0.2%Latest close ₹9790.00 on 2026-10-19
Daily history is available from 2026-04-20; the requested 1Y window is partially covered.
Bar
+0.9%
RSI
42
MACD hist
28.73
52W pos
15%
2026-10-19O ₹9701.00H ₹9850.00L ₹9701.00C ₹9790.00Vol 7 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ZSARACOMNifty Financial ServicesNifty 500
- ZSARACOM
- -24.0%
- Nifty 500
- -5.6%
- Nifty Financial Services
- -6.0%
- Vs Nifty 500
- -18.4 pp
Chart stats
19 Oct 2026- From 52W high
- -32.0%
- 52W range position
- 15%
- ATR (14)
- 4.1%
- Volume vs 20D
- 0.31x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹9,605 - ₹10,535
₹14,400
₹9,000 - ₹14,400
₹404.7
Latest completed session
20-session average
38.9% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · UNDERVALUED67
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent75
Revenue +145.2% · PAT +166.7% YoY
Technical
Neutral44
Price trend and sector-relative-strength timing.
Valuation
Legacy model+68.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence66
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 75/100Rev +145% YoY · PAT +167% YoY · operating leverage
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹76 Cr | +145.2% | NDF |
| EBITDA | NDF | NDF | NDF |
| Operating margin | NDF | NDF | NDF |
| PAT | ₹64 Cr | +166.7% | NDF |
| PAT margin | 84.2% | +679 bps | NDF |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 8.16
- P/B
- 0.98
- EV/EBITDA
- —
- Market Cap
- 1080.00Cr
Profitability
- ROE
- 8.92%
- ROCE
- 10.90%
- ROA
- 10.84%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 34.00%
- EPS 5Y
- 34.00%
- Revenue 3Y
- 71.00%
- EPS 3Y
- 99.00%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- —
- Altman Z
- 7.14
- Book Value
- 10050.00
Cash Flow
- FCF Yield
- 2.31%
- FCF Positive Y
- 6/5
- OCF
- -114.00 Cr
- EPS TTM
- 1207.22
Shareholding
- Promoter Hold
- 74.88%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 20%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 76.0+575.0% vs prev
Net Profit
₹ CrLatest: 64.0+500.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 42. Wait for confirmation.
- SMA20 falling (~9.8% over last month) — short-term momentum negative.
- RSI(14) at 42 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 32% off 52W high · 9% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
46
RS percentile
Insufficient history
1M return
-5.9%
3M return
-23.1%
6M return
-2.6%
1Y return
-
RS 1D
-1
RS 20D
-
Sector rank
#10
Industry rank
#16
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
price below
200-DMA
unavailable
Sector
weakening
Industry
leading
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
126 observations
19 Oct 2026Value 103.53+0.88%
RS vs Nifty 500104
Valuation & peers
U-Score 67 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 67 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · UNDERVALUEDValuation27/30
Growth21/25
Quality1/20
Balance Sheet10/15
Cash Flow5/10
Piotroski
5/9 (+3)
Penalties
0
Raw sum
67
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
67/100 · legacy band UNDERVALUED
Positive drivers
- Fair-value margin of safety is positive at 68.2%.
- Valuation contributes 27/30 to the score.
- Growth contributes 21/25 to the score.
Main drags
- Quality is weaker at 1/20; verify the latest quarterly trend.
- Cash flow is weaker at 5/10; verify the latest quarterly trend.
- Balance sheet is weaker at 10/15; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
8.2
PB
1.0
EV/EBITDA
—
ROE
8.9%
ROCE
10.9%
FCF Yield
2.3%
Debt/Equity
0.0
MoS
+68.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
67
Previous: 67
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+68.2%
Previous: +68.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
68
67
67
67
68
67
68
68
67
67
67
67
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹16,522.19
+40.7% MoS
Growth-justified P/E
25.5
Growth-justified Value
₹30,784.11
+68.2% MoS
PEG
0.15
Comparable companies
Peers
Business-comparable peers in Financial Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SYSTMTXC
Small
Systematix Corporate Services Limited
Financial Services
match 88
46
77.6
10.9%
-218%
FAIR VALUE
CREST
Small
Crest Ventures Limited
Financial Services
match 87
38
31.5
3.8%
-19%
WATCHLIST
JINDALPHOT
Small
Jindal Photo Limited
Financial Services
match 87
33
—
-2.3%
—
WATCHLIST
SUMMITSEC
Small
Summit Securities Limited
Financial Services
match 87
69
12.0
1.1%
+53%
UNDERVALUED
THEINVEST
Small
The Investment Trust Of India Limited
Financial Services
match 83
50
14.4
4.0%
+45%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Saraswati Commercial India Limited operates in Investment, within the Financial Services sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
66Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 49th percentile of the scored universe and 62nd percentile within Financial Services. Main check: results consistency is weak at 15/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
49th percentile
overall median 67 · Financial Services: 62nd pctile, median 62 · Small: 54th pctile, median 66
Evidence depth
Financial-only
4 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
62
acceptable · profit to cash conversion
Balance sheet
88
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
15
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 74.9%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 2%.
- ▸6 years of positive FCF.
Trust risks
- ▸Operating cash flow is negative at ₹-114 Cr.
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸1/4 latest quarters had positive YoY revenue growth.
- ▸1/4 latest quarters had positive YoY PAT growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Saraswati Commercial India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Aug - Newspaper Advertisement for the 43rd Annual General Meeting of the Company to be held on Thursday, 24th September, 2026 at 2.30 P.M.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 29 Sep - Newspaper Publication regarding special window for transfer and dematerialization of physical securities of Saraswati Commercial (India) Limited.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Sep - Newspaper Publication of Notice of 43rd Annual General Meeting & details of E- Voting of Saraswati Commercial (India) Limited.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Management 26 May - Ms. Meenakshi Bishnoi re-appointed Chief Compliance Officer from August 10, 2026 for three years.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - Newspaper Publication of Un- Audited Standalone & Consolidated Financial Results for the quarter ended 30th June, 2026 of Saraswati Commercial (India) Limited.
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Change in Management 26 May - Mr. Kartik Chawda appointed Chief Information Officer & Head of IT from June 1, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 Jun - Newspaper Publication regarding Special Window for Transfer & Dematerialization of physical securities of Saraswati Commercial (India) Limited.
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Change in Management 26 May - Rajiv A. Gupta & Associates re-appointed internal auditor for FY 2026-2027 on 26 May 2026.
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Cessation 26 May - Chief Information Officer Sanket Baheti resigned, effective 31 May 2026.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.