Sancode Technologies Limited (SANCODE.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

-154.1%

-₹616.30

vs ₹1,138.15 price

Levered DCF

-₹309.75

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

97.59

Safe zone

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
P/E	232.98×	29.5×	-16.37×	45.76×	54.32×	-765.45×	-30.29×
P/B	14.19×	2.62×	5.61×	8.26×	11.93×	15.32×	15.51×
P/S	6.87×	1.05×	6.85×	16.11×	14.05×	22.02×	270.4×
EV / EBITDA	181.04×	26.16×	-18.15×	-80.28×	33.81×	-120.7×	-22.54×
Gross margin	100.0%	100.0%	44.8%	3.8%	40.5%	1.3%	-610.7%
Operating margin	2.7%	0.4%	44.6%	-0.8%	37.4%	-5.9%	0.0%
Net margin	3.0%	3.6%	-41.8%	35.2%	25.8%	-3.0%	-891.4%
Current ratio	3.81×	2.71×	3.73×	12.09×	6.94×	10.53×	2.04×
Debt / equity	0.24×	0.26×	0.09×	0.02×	0.05×	0.29×	0×
Interest coverage	25.51×	5.67×	530.95×	0×	222.68×	-229.25×	0×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	6.1%	8.9%	-34.3%	18.1%	21.9%	-2.1%	-51.1%
Return on invested capital	4.2%	0.7%	31.6%	-0.4%	27.7%	-2.8%	0.0%
Return on assets	4.5%	5.9%	-25.9%	15.9%	18.0%	-1.5%	-34.2%
Free cash flow yield	0.1%	-17.4%	-9.1%	3.0%	0.3%	-4.8%	-4.1%
Earnings yield	0.4%	3.4%	-6.1%	2.2%	1.8%	-0.1%	-3.3%
Enterprise value	₹1.1B	₹148.7M	₹314.5M	₹238.7M	₹339.7M	₹340.9M	₹328.5M
Net debt / EBITDA	-1.8×	0.64×	0.65×	3.92×	-0.29×	0.61×	0.97×
Cash conversion cycle (days)	28	-27	6	135	293	259	2,011