Sangam (India) Limited (SANGAMIND.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

-278.1%

-₹1,111.45

vs ₹623.95 price

Levered DCF

-₹863.83

After debt service

Piotroski score

6 / 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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	26×	67.23×	57.03×	7.31×	7.99×	71.63×	10.83×	19.67×
P/B	2×	2.12×	2.36×	1.08×	1.57×	0.55×	0.27×	0.5×
P/S	0.66×	0.75×	0.89×	0.36×	0.47×	0.22×	0.08×	0.14×
EV / EBITDA	10.48×	12.72×	15.75×	6.46×	6.38×	6.79×	4.81×	6.38×
Gross margin	40.0%	15.9%	29.4%	13.4%	17.0%	9.2%	35.8%	35.9%
Operating margin	7.0%	4.6%	19.4%	7.3%	8.4%	2.2%	3.8%	3.8%
Net margin	2.6%	1.1%	1.6%	4.9%	5.9%	0.3%	0.7%	0.7%
Current ratio	1.11×	1.2×	1.27×	1.2×	1.2×	1.32×	1.27×	1.24×
Debt / equity	1.19×	1.13×	1.08×	0.94×	0.85×	1.07×	1.23×	1.36×
Interest coverage	1.98×	1.37×	7.13×	3.64×	4.22×	0.62×	1.03×	1.07×
Dividend yield	0.5%	0.5%	0.4%	0.9%	0.4%	1.3%	3.3%	1.8%
Payout ratio	12.2%	31.6%	24.7%	6.8%	3.1%	94.1%	35.8%	36.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.7%	3.2%	4.1%	14.8%	19.6%	0.8%	2.5%	2.5%
Return on invested capital	6.8%	4.2%	18.5%	9.1%	11.3%	2.5%	3.6%	3.5%
Return on assets	2.5%	1.1%	1.5%	6.0%	7.7%	0.3%	0.9%	0.9%
Free cash flow yield	2.0%	1.3%	-10.7%	-18.2%	-10.0%	23.7%	93.9%	54.1%
Earnings yield	3.8%	1.5%	1.8%	13.7%	12.5%	1.4%	9.2%	5.1%
Enterprise value	₹33.7B	₹32.2B	₹33.9B	₹17.8B	₹17.3B	₹8.9B	₹7.8B	₹9.7B
Net debt / EBITDA	3.81×	4.29×	4.95×	3×	2.24×	4.49×	3.93×	4.66×
Cash conversion cycle (days)	51	62	116	105	123	178	153	150