Sapphire Foods India Limited (SAPPHIRE.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

-25.4%

₹146.40

vs ₹196.35 price

Levered DCF

₹144.91

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.9

Grey zone

Rating

C-

Overall 1 / 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	-151.94×	489.25×	192.75×	33.15×	190.03×	-78.42×	-48.95×	-113.23×
P/B	3.49×	6.74×	7.6×	6.18×	9.37×	16.08×	14.71×	19.21×
P/S	1.55×	3.27×	3.92×	3.42×	5.5×	7.6×	5.81×	6.46×
EV / EBITDA	13.1×	22.35×	22.74×	18.88×	29.65×	48.69×	82.2×	56.25×
Gross margin	41.9%	34.3%	34.9%	54.4%	48.1%	46.5%	45.4%	43.6%
Operating margin	2.6%	46.9%	5.3%	7.3%	5.4%	-6.8%	-0.3%	-0.5%
Net margin	-1.0%	0.7%	2.0%	10.3%	2.7%	-9.7%	-11.9%	-5.7%
Current ratio	0.63×	0.92×	0.82×	0.92×	1.32×	0.46×	0.42×	0.44×
Debt / equity	1.02×	0.92×	0.87×	0.77×	0.78×	1.34×	1.23×	1.64×
Interest coverage	0.66×	12.11×	1.37×	1.91×	1.19×	-0.91×	-0.06×	-0.09×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-2.3%	1.4%	3.9%	18.6%	4.6%	-20.5%	-30.0%	-16.9%
Return on invested capital	2.5%	36.0%	4.1%	7.4%	4.6%	-6.0%	-0.4%	-0.6%
Return on assets	-1.0%	0.6%	1.9%	9.0%	2.1%	-7.3%	-11.4%	-4.3%
Free cash flow yield	3.9%	2.6%	0.6%	-0.0%	1.2%	1.0%	0.9%	-0.3%
Earnings yield	-0.7%	0.2%	0.5%	3.0%	0.5%	-1.3%	-2.0%	-0.9%
Enterprise value	₹62.1B	₹106.5B	₹112.5B	₹86.8B	₹101.7B	₹83.2B	₹83.4B	₹83.5B
Net debt / EBITDA	2.85×	2.59×	2.16×	2×	2.13×	3.51×	6.14×	4.28×
Cash conversion cycle (days)	-30	-24	-23	-37	-47	-62	-42	-33