Sadhana Nitro Chem Limited (SADHNANIQ.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

-196.1%

-₹2.23

vs ₹2.32 price

Levered DCF

-₹8.13

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.26

Grey zone

Rating

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	-0.68×	69.57×	400×	836.64×	417.9×	163.88×	177.83×	34.25×
P/B	0.13×	1.84×	7.38×	11.88×	16.23×	20.03×	22.34×	24.71×
P/S	1.19×	3.12×	8.85×	18.91×	20×	25.65×	25.28×	10.01×
EV / EBITDA	-3.56×	17.27×	42.75×	133.44×	154.78×	104.93×	91.51×	23.39×
Gross margin	-85.3%	62.2%	52.1%	48.5%	42.2%	57.7%	65.3%	49.7%
Operating margin	-139.7%	16.4%	14.3%	12.3%	6.6%	18.1%	20.2%	45.6%
Net margin	-174.0%	4.6%	2.2%	2.2%	4.8%	15.7%	14.2%	29.2%
Current ratio	1.8×	1.39×	1.68×	1.33×	1.23×	1.32×	1.31×	1.5×
Debt / equity	0.25×	0.88×	1.03×	0.61×	0.73×	0.67×	0.44×	0.12×
Interest coverage	-2.62×	1.55×	1.56×	1.79×	2.01×	5.36×	7.36×	10.91×
Dividend yield	7.3%	0.7%	0.2%	0.1%	0.0%	0.0%	0.2%	0.0%
Payout ratio	-5.0%	49.1%	89.7%	92.3%	0.0%	0.0%	30.8%	1.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-19.0%	2.7%	1.8%	1.4%	3.9%	12.3%	12.6%	72.1%
Return on invested capital	-11.9%	3.3%	1.8%	2.9%	2.1%	7.0%	7.8%	68.8%
Return on assets	-13.1%	1.2%	0.8%	0.7%	1.6%	5.2%	6.8%	42.9%
Free cash flow yield	-225.5%	-8.9%	-4.1%	-3.2%	-1.8%	-0.9%	-1.5%	1.2%
Earnings yield	-146.7%	1.5%	0.2%	0.1%	0.2%	0.6%	0.6%	2.9%
Enterprise value	₹1.6B	₹7.6B	₹19B	₹28.2B	₹27.1B	₹26.8B	₹26.5B	₹26B
Net debt / EBITDA	-2.24×	5.6×	5.22×	6.49×	6.28×	2.99×	1.74×	0.03×
Cash conversion cycle (days)	1,205	778	578	560	511	552	464	110