Sarda Energy & Minerals Limited (SARDAEN.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

+53.8%

₹660.86

vs ₹429.65 price

Levered DCF

₹729.35

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

—

Rating

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	16.27×	26.59×	13.95×	6.28×	5.08×	4.02×	3.35×	5.63×
P/B	2.44×	2.96×	1.88×	1.11×	1.36×	0.68×	0.23×	0.64×
P/S	3.16×	3.99×	1.88×	0.9×	1.04×	0.69×	0.21×	0.49×
EV / EBITDA	9.5×	16.7×	10.69×	4.91×	4.05×	6.28×	5.24×	5.06×
Gross margin	38.8%	43.6%	37.1%	40.0%	46.1%	37.7%	34.4%	34.8%
Operating margin	25.4%	39.7%	33.3%	36.8%	43.1%	33.6%	29.9%	30.9%
Net margin	19.4%	15.0%	13.5%	14.3%	20.5%	17.0%	6.3%	8.7%
Current ratio	4.5×	3.06×	3.36×	2.99×	2.61×	2.48×	2.08×	1.76×
Debt / equity	0.36×	0.46×	0.35×	0.41×	0.53×	0.77×	0.91×	0.78×
Interest coverage	5.92×	8.42×	10.08×	12.49×	11.57×	9.44×	7.34×	7.26×
Dividend yield	0.3%	0.2%	0.7%	0.7%	0.7%	1.2%	4.3%	1.6%
Payout ratio	4.8%	5.0%	10.1%	4.5%	3.4%	4.8%	14.3%	8.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.0%	11.1%	13.4%	17.7%	26.8%	16.9%	6.8%	11.4%
Return on invested capital	9.9%	14.5%	18.0%	22.8%	25.1%	13.5%	11.9%	13.7%
Return on assets	9.7%	6.9%	8.7%	11.0%	15.2%	8.3%	3.1%	5.5%
Free cash flow yield	7.1%	2.1%	6.7%	12.8%	15.6%	-7.6%	-3.3%	11.9%
Earnings yield	6.1%	3.8%	7.2%	15.9%	19.7%	24.9%	29.9%	17.8%
Enterprise value	₹197.6B	₹208.6B	₹85.6B	₹51.8B	₹54.4B	₹31.7B	₹19.5B	₹24.9B
Net debt / EBITDA	0.85×	1.8×	1.58×	1.33×	1.01×	3.29×	4.1×	2.74×
Cash conversion cycle (days)	116	140	108	133	125	174	150	126