Sangam Finserv Ltd (SANGAMFIN.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

+82.5%

₹61.15

vs ₹33.50 price

Levered DCF

₹126.95

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	51.61×	30.26×	12.35×	6.03×	6.42×	5.67×	6.42×	6.49×
P/B	1.23×	1.5×	0.77×	0.33×	0.43×	0.32×	0.59×	0.67×
P/S	9.1×	11.78×	5.27×	2.35×	3.17×	1.53×	2.69×	1.83×
EV / EBITDA	34.25×	23.69×	11.47×	7.6×	6.59×	4.99×	10.2×	30.07×
Gross margin	81.3%	85.9%	81.0%	75.8%	98.0%	99.7%	59.6%	42.9%
Operating margin	32.0%	54.2%	57.1%	55.7%	92.7%	95.8%	56.6%	40.3%
Net margin	17.6%	38.8%	42.6%	39.0%	49.5%	27.1%	41.9%	28.2%
Current ratio	8.91×	0×	0×	0×	0×	1.84×	0×	0×
Debt / equity	0.4×	0.2×	0.21×	0.28×	0.39×	0.66×	0.67×	3.79×
Interest coverage	0×	3.85×	3.01×	2.31×	3.83×	2.22×	1.4×	0.71×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	2.2%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	14.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.4%	5.0%	6.2%	5.4%	6.7%	5.6%	9.1%	10.4%
Return on invested capital	2.0%	4.1%	5.1%	4.2%	6.6%	6.3%	5.4%	2.2%
Return on assets	1.7%	4.1%	5.1%	4.2%	4.8%	3.3%	5.4%	2.2%
Free cash flow yield	3.5%	14.4%	10.5%	15.5%	9.9%	27.5%	12.1%	17.1%
Earnings yield	1.9%	3.3%	8.1%	16.6%	15.6%	17.7%	15.6%	15.4%
Enterprise value	₹2.1B	₹2.2B	₹1.2B	₹717.5M	₹924.6M	₹1B	₹1.2B	₹4B
Net debt / EBITDA	6.47×	2.34×	2.43×	3.49×	3.13×	3.34×	5.45×	25.53×
Cash conversion cycle (days)	0	46	1	0	0	1	12	0