Ambalal Sarabhai Enterprises Limited (AMBALALSA.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-8.8%

₹32.17

vs ₹35.26 price

Levered DCF

-₹27.80

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	10.46×	56.48×	65.14×	13.77×	5.67×	4.61×	10.41×	24.6×
P/B	1.18×	1.99×	2.69×	1.2×	2.23×	1.83×	3.26×	3.39×
P/S	0.92×	1.42×	2.14×	0.93×	1.37×	0.83×	1.11×	0.69×
EV / EBITDA	20.11×	26.01×	23.73×	9.01×	5.41×	5.11×	7.29×	11.18×
Gross margin	23.1%	23.4%	40.7%	36.7%	38.9%	36.4%	37.3%	38.1%
Operating margin	3.9%	-1.5%	1.6%	3.8%	28.0%	0.3%	-3.6%	2.1%
Net margin	8.8%	2.5%	3.3%	6.7%	24.2%	18.0%	10.7%	2.8%
Current ratio	1.27×	0.98×	1.16×	1.08×	1.14×	0.94×	0.78×	0.68×
Debt / equity	0.36×	0.36×	0.34×	0.35×	0.22×	0.38×	0.69×	1.31×
Interest coverage	1.91×	-0.61×	0.5×	2.36×	26.71×	0.18×	-1.3×	0.96×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	11.2%	3.5%	4.1%	8.7%	39.4%	39.7%	31.4%	13.9%
Return on invested capital	3.5%	-1.5%	1.3%	2.8%	32.0%	0.5%	-5.6%	2.3%
Return on assets	6.3%	1.8%	2.3%	4.7%	20.5%	14.0%	7.5%	2.0%
Free cash flow yield	3.9%	-7.8%	0.4%	-9.5%	-1.6%	-3.5%	-7.2%	8.1%
Earnings yield	9.6%	1.8%	1.5%	7.3%	17.7%	21.7%	9.6%	4.1%
Enterprise value	₹2.4B	₹3.2B	₹4B	₹1.9B	₹2.8B	₹1.5B	₹1.6B	₹1.3B
Net debt / EBITDA	4.28×	3.69×	2.07×	1.64×	0.28×	0.45×	0.8×	2.05×
Cash conversion cycle (days)	43	18	-65	-7	-15	-13	1	-4