Beryl Securities (531582)

Score breakdown: P/E: 0/3 · ROCE: 0/2 · Growth: 1/2 · Dividend: 0/1

Key Financials

Strengths

• Piotroski F-score of 7/9 suggests some recent operational and financial improvement.
• Sales growth of 100% shows top-line momentum, though from a tiny base.
• P/B of 1.72 against book value of ₹16.79 is not extremely stretched on assets alone.

Concerns

• P/E of 1,000 and PEG of 19.09 imply an extreme valuation for near-zero earnings.
• ROE of 0.11% and ROCE of 4.09% are far below acceptable returns on capital.
• Latest quarter net profit of ₹0 Cr shows poor conversion of revenue into profits.
• No dividend and no promoter/debt data reduce confidence and margin of safety.

AI Analysis

Let me start with what I see. Beryl Securities is a micro-cap NBFC with a market cap of just ₹15 Cr and a share price of ₹28.91. The first thing that jumps out is the earnings yield. A P/E of 1,000 means the owner is paying ₹1,000 for every rupee of profit. That is the opposite of Graham's margin of safety. Book value is ₹16.79, so at ₹28.91 you are paying 1.72 times book for a company that earns 0.11% on equity and 4.09% on capital. A savings deposit does better. No dividend means you are entirely dependent on price appreciation, which is dangerous when the underlying business is not compounding. Yes, sales grew 100%, but look at profit growth: only 4.76%. The latest quarter shows sales of ₹1 Cr and net profit of ₹0 Cr. That tells me the growth is not converting into owner earnings. With a PEG around 19, the price already prices in many years of excellent performance that the numbers do not support. The Piotroski score of 7/9 is the only bright spot, suggesting some recent structural improvement, but with such a tiny base one good quarter can distort ratios. I cannot identify any durable moat here. An NBFC needs capital and underwriting skill; a ₹15 Cr company with near-zero return on equity has neither demonstrated. There is not enough disclosure on promoter holding or debt to make an informed decision. In Buffett's words, it is far better to buy a wonderful company at a fair price than a mediocre company at a wonderful price. Here, we have a mediocre company at a speculative price. I would pass and keep hunting.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer