Chemplast Sanmar Limited (CHEMPLASTS.NS) 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

-94.4%

₹11.22

vs ₹199.54 price

Levered DCF

-₹59.52

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C-

Overall 1 / 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	-92.06×	-62.48×	-45.93×	36.08×	15.23×	17.51×	169.49×	71.51×
P/B	14.68×	3.33×	4.28×	2.96×	5.8×	-20.53×	4.09×	3.39×
P/S	6.1×	1.59×	1.86×	1.11×	1.68×	1.89×	6.26×	6.8×
EV / EBITDA	168.05×	36.64×	76.19×	11.57×	7.78×	6.23×	28.28×	30.33×
Gross margin	25.4%	36.7%	28.3%	35.0%	35.5%	42.4%	64.6%	66.2%
Operating margin	-1.2%	1.2%	-2.4%	31.9%	34.9%	41.2%	20.1%	21.6%
Net margin	-6.6%	-2.5%	-4.0%	3.1%	11.0%	10.8%	3.7%	9.5%
Current ratio	0.5×	0.65×	0.74×	0.96×	1×	0.64×	1.03×	2.22×
Debt / equity	1.11×	0.89×	0.91×	0.55×	0.52×	-6.08×	0.68×	0.11×
Interest coverage	-0.22×	0.22×	-0.51×	10.24×	6.39×	3.61×	2.64×	5.58×
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	-16.0%	-5.3%	-9.3%	8.2%	38.0%	-117.2%	2.4%	4.7%
Return on invested capital	-0.9%	0.7%	-1.6%	38.0%	49.0%	45.5%	4.3%	5.0%
Return on assets	-4.4%	-1.7%	-2.6%	2.6%	11.6%	9.1%	1.1%	3.1%
Free cash flow yield	-0.9%	-3.1%	-11.9%	-1.2%	8.0%	14.2%	1.5%	2.1%
Earnings yield	-1.1%	-1.6%	-2.2%	2.8%	6.6%	5.7%	0.6%	1.4%
Enterprise value	₹271.8B	₹80.1B	₹81B	₹54.1B	₹97.6B	₹90B	₹90.6B	₹86.9B
Net debt / EBITDA	8.77×	5.11×	7.74×	-0.2×	-0.09×	1.26×	3.85×	0.78×
Cash conversion cycle (days)	-112	-119	-126	-121	-95	-193	9	3