Sai Capital Ltd. (SAICAPI.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

-316.7%

-₹303.43

vs ₹140.00 price

Levered DCF

-₹3,378.89

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	3.37×	5.48×	-3.09×	13.61×	1.11×	0.98×	0.15×	0.46×
P/B	0.11×	0.16×	0.12×	0.1×	0.03×	0.01×	0.01×	0.04×
P/S	1.69×	2.44×	2.3×	2.17×	0.66×	0.05×	0.02×	0.07×
EV / EBITDA	2.24×	3.19×	-6.47×	5.22×	-0.49×	-2.72×	-0.73×	-1.55×
Gross margin	96.3%	96.8%	98.2%	97.5%	100.0%	28.2%	32.1%	37.7%
Operating margin	74.4%	91.0%	86.6%	87.2%	97.3%	8.6%	29.6%	35.2%
Net margin	50.2%	45.4%	-74.5%	15.9%	58.9%	4.7%	14.5%	15.1%
Current ratio	223.35×	9,716.75×	20.44×	24.5×	107.72×	379.93×	56.45×	41.33×
Debt / equity	0.04×	0.05×	0.05×	0.04×	0.01×	0.01×	0.01×	0×
Interest coverage	19.93×	28.3×	18.17×	15.17×	103.54×	49.5×	397.91×	400.84×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	11.3%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	11.1%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.4%	3.0%	-3.8%	0.7%	3.1%	1.4%	9.0%	9.8%
Return on invested capital	3.2%	3.6%	4.1%	1.8%	3.5%	1.4%	13.4%	14.3%
Return on assets	3.2%	2.8%	-3.5%	0.7%	3.0%	1.3%	8.6%	9.4%
Free cash flow yield	-125.8%	-107.7%	-79.6%	-162.6%	-32.3%	-5.7%	-220.6%	250.5%
Earnings yield	29.7%	18.6%	-32.4%	7.3%	89.8%	102.2%	669.3%	218.9%
Enterprise value	₹465.2M	₹610.5M	₹278.6M	₹336.2M	-₹79.5M	-₹254.4M	-₹313.9M	-₹766.8M
Net debt / EBITDA	0.25×	0.21×	2.79×	-0.14×	-1.24×	-3.22×	-0.84×	-1.83×
Cash conversion cycle (days)	-17	4,330	953	1,208	2,127	78	44	31