Shardul Securities MD, chairman, board of directors and AGM
NSE: SHARDULBSE: 512393Capital MarketsSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹53.15.
- Delivery only: shares bought must be paid for in full, with no selling on the same day.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹442 Cr2,233rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 20 Oct 2026
- 15.3
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 20 Oct 2026
- 0.6
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 20 Oct 2026
- 3.8%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 20 Oct 2026
- 4.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026. The filing of 20 Oct 2026
- 0.59
- Volume, NSEVolume. Shares traded on the last trading day.
- 1,061
Shardul Securities board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonDEVESH CHATURVEDIRelated to the promoter
- Company Secretary and Compliance OfficerDaya Bhalia
7 directors4 independent2 executive1 non-executive
- DEVESH CHATURVEDI · ChairpersonNon-executive · joined Sep 2024 · 1 listed board
- RAMAMOORTHY SUNDARESANExecutive · joined Sep 1998 · reappointed Jun 2024 · 1 listed board · 1 committee seat
- YOGENDRA CHATURVEDIExecutive · joined Feb 2016 · reappointed Feb 2026 · 1 listed board · 3 committee seats
- LALIT SHAHIndependent · joined Jun 2019 · reappointed Jun 2024 · 84 months as independent · 1 listed board · 1 as independent · 1 committee seat
- VISHNU DUTTIndependent · joined Sep 2024 · 22 months as independent · 1 listed board · 1 as independent
- SESHAGIRI RANGANATHANIndependent · joined Sep 2024 · 22 months as independent · 1 listed board · 1 as independent · 1 committee seat
- ANSHU AGARWALIndependent · joined Dec 2025 · 6 months as independent · 1 listed board · 1 as independent · 2 committee seats
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
3 directors who left
- GYANCHAND PIPARA, left 30 Mar 2026: Others
- DAYA BHALIA, left 13 Feb 2026: Tenure Completion
- DEVESH VASAVADA, left 4 Feb 2026: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 27 May 20265 of 7 present2 independent · 117 days in between
- 29 Jan 20269 of 10 present5 independent
Audit Committee
Chair VISHNU DUTT
ANSHU AGARWAL, LALIT SHAH, YOGENDRA CHATURVEDI
- 27 May 20263 of 4 present2 independent · 117 days in between
- 29 Jan 20264 of 5 present3 independent
Nomination and remuneration committee
Chair LALIT SHAH
VISHNU DUTT, DEVESH CHATURVEDI
- 27 May 20263 of 3 present2 independent
Stakeholders Relationship Committee
Chair VISHNU DUTT
YOGENDRA CHATURVEDI, SESHAGIRI RANGANATHAN, ANSHU AGARWAL
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair YOGENDRA CHATURVEDI
SESHAGIRI RANGANATHAN, LALIT SHAH, RAMAMOORTHY SUNDARESAN
No meeting listed in the filing.
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Shardul Securities AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Shardul Securities dividend history
Annual general meeting, 25 Sep 2026
7,085 shareholders on the register on 18 Sep 2026; present: 9 promoters and 155 others; votes counted by Mr. Dhirendra Maurya / D Maurya and Associates.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited (Standalone and Consolidated) Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Reports of Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 85.74% · promoters 100.00% · institutions 0.00% · other public 43.83%
- To appoint a director in place of Mr. Devesh Chaturvedi (DIN: 00004793), who retires by rotation and being eligible, offers himself for re-appointment.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 85.74% · promoters 100.00% · institutions 0.00% · other public 43.83%
- Approval for buyback of equity shares of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 85.74% · promoters 100.00% · institutions 0.00% · other public 43.83%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Tax disputes
Reported in the filing for the quarter to Jun 2026.
- Tax disputeNational Faceless Assessment CenterSince 28 Apr 2022Submission was filed on 09-08-2024. The appeal is still pending before NFAC and order is awaited.
At the filing before: Client code modification by its broker for transaction worth Rs. 7,30,58,175/- which was treated as unexplained credit under section 68 of the Income Tax Act for the AY 2013-14 by the AO and the demand was determined worth Rs.4,73,63,653. Aggrieved by the same, the company has filed appeal before National Faceless Appeal Centre on 28.04.2022.MoreLess
- Tax disputeNational Faceless Assessment CenterSince 28 Apr 2022Submission was filed on 09-08-2024. The appeal is still pending before NFAC and order is awaited.
At the filing before: Client code modification by its broker for transaction worth Rs. 6,41,77,574/- which was treated as unexplained credit under section 68 of the Income Tax Act for the AY 2014-15 by the AO and the demand was determined worth Rs.6,79,45,840.Aggrieved by the same, the company has filed appeal before National Faceless Appeal Centre on 28.04.2022.MoreLess
- Tax disputeNational Faceless Assessment CenterSince 8 Jun 2023Submission was filed on 22-01-2025. The appeal is still pending before NFAC and order is awaited
At the filing before: Disallowance of exemption claimed under section 10(35) of Rs. 1,67,60,655/- for the AY 2016-17 on account of alleged malpractices by JM Financial, demand determined by AO was worth Rs. 1,08,85,620/-. Aggrieved by the same, the company has filed appeal before National Faceless Appeal Centre on 08.06.2023.MoreLess
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- No
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.