Saraswati Commercial (India) Ltd: Buffett with a Mood Swing or Just Another NBFC?
1. At a Glance
A low-key, high-priced NBFC that’s quietly juggling securities, lending, and wild quarter swings. Almost debt-free, profitable, but allergic to dividends and attention. SCIL is a textbook case of “you blinked, and the EPS changed by 400%.”
2. Introduction with Hook
Imagine if Warren Buffett woke up one day, bought some steel tube IPO shares, then disappeared for three quarters. That’s Saraswati Commercial for you. One of the few NBFCs trading above ₹13,000 per share, this company has everything—crazy margins, mysterious losses, zero marketing, and a name that sounds like a coaching class.
Market Cap: ₹1,532 Cr
Stock Price (16 July 2025): ₹13,981
EPS (FY25): ₹487
P/E: 28.7
Book Value: ₹8,755
Dividend: 0%. Zilch. Nada.
3. Business Model (WTF Do They Even Do?)
SCIL is a non-deposit-taking NBFC, but not your usual EMI-chasing, loan-sanctioning machine. This one’s a mix of:
Lending (Retail + Corporate)
Investment in shares/securities (Both listed & unlisted)
Categorized as a Middle Layer NBFC under RBI’s Scale-Based Regulation.
Recent move: Invested ₹15 Cr in Sambhv Steel Tubes IPO as an anchor. Not bad for a firm with 3-digit Crore revenue.
There’s no physical product, no public loan scheme, and yet they’ve stayed afloat for decades by quietly compounding.
4. Financials Overview
Let’s call them moody profits with spreadsheet finesse.
