Salasar Techno Engineering Limited (SALASAR.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

-19.8%

₹3.24

vs ₹4.04 price

Levered DCF

₹16.82

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

B-

Overall 3 / 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	56.4×	86.91×	61.76×	30.65×	19.32×	17.33×	4.31×	10.76×
P/B	1.16×	2.1×	7.36×	3.14×	2.38×	2.27×	0.56×	1.88×
P/S	0.65×	1.14×	2.75×	1.25×	0.93×	0.96×	0.23×	0.56×
EV / EBITDA	12.01×	17.24×	30.29×	16.36×	12.92×	11.51×	5.34×	6.85×
Gross margin	12.9%	12.5%	14.0%	18.7%	17.9%	13.8%	19.3%	17.7%
Operating margin	5.8%	6.4%	9.3%	8.2%	8.5%	8.6%	9.2%	10.8%
Net margin	1.1%	1.3%	4.4%	4.0%	4.4%	5.0%	4.4%	5.2%
Current ratio	1.16×	1.42×	1.35×	1.52×	1.48×	1.63×	1.48×	1.47×
Debt / equity	0.51×	0.4×	0.78×	0.68×	0.88×	0.78×	0.8×	0.79×
Interest coverage	1.56×	1.8×	2.56×	2.62×	2.81×	2.91×	2.3×	4.24×
Dividend yield	0.0%	0.0%	0.1%	0.3%	0.4%	0.2%	3.5%	0.9%
Payout ratio	0.0%	0.0%	6.0%	7.9%	9.1%	4.5%	17.9%	9.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.1%	2.4%	11.8%	10.0%	11.2%	11.7%	10.8%	17.6%
Return on invested capital	3.0%	4.0%	10.1%	9.0%	8.5%	7.7%	11.7%	12.1%
Return on assets	0.8%	1.1%	4.6%	4.4%	4.6%	5.4%	4.9%	7.0%
Free cash flow yield	3.8%	-3.6%	-0.1%	-5.5%	-3.8%	-5.9%	10.2%	-6.0%
Earnings yield	1.8%	1.2%	1.6%	3.2%	4.7%	5.2%	19.3%	9.3%
Enterprise value	₹13.5B	₹19.1B	₹36.6B	₹15.3B	₹9.2B	₹7.7B	₹2.8B	₹5.1B
Net debt / EBITDA	3.37×	2.39×	2.87×	2.92×	3.49×	2.95×	3.13×	2.02×
Cash conversion cycle (days)	242	178	181	206	216	217	217	167