It depends?  
 
What type of bashguard are you looking at one that mounts to the bike and sits out in front of the rings?
This type wouldn't have any problems.

 
 
Or one that actually connects to the chainring and rotates with it?
This type you would have to make sure it had the right amount of holes, 4 or 5, and the right diameter between the holes. A 53 tooth bash guard sounds like it might be for a road crank (130 BCD) while your 48 could be from a mtb crank (104 BCD)  Your crank might actually say on it something like 104/64.

 
 
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