Sarla Performance Fibers Limited (SARLAPOLY.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

+6.5%

₹101.25

vs ₹95.05 price

Levered DCF

₹103.41

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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-44.38×	10.43×	14.38×	13.05×	10.23×	7.68×	3.72×	8.39×
P/B	1.13×	1.33×	1.1×	0.71×	1.22×	0.59×	0.34×	0.73×
P/S	1.45×	1.52×	1.26×	0.73×	1.11×	0.78×	0.35×	0.66×
EV / EBITDA	43.06×	9.27×	7.7×	5.73×	6.4×	4.61×	5.39×	6.95×
Gross margin	42.6%	55.4%	34.9%	36.1%	21.5%	42.8%	38.5%	33.7%
Operating margin	4.4%	50.4%	8.0%	7.9%	12.3%	12.7%	7.9%	9.0%
Net margin	-3.3%	14.6%	8.8%	5.6%	10.9%	10.2%	9.4%	7.8%
Current ratio	1.22×	1.25×	1.49×	1.32×	1.69×	1.71×	1.63×	1.51×
Debt / equity	0.38×	0.37×	0.32×	0.27×	0.35×	0.44×	0.84×	0.83×
Interest coverage	2.17×	19.28×	5.16×	7.48×	14.34×	3.46×	2.12×	3.23×
Dividend yield	1.9%	0.0%	0.0%	6.0%	0.0%	0.0%	3.8%	1.9%
Payout ratio	-82.2%	0.0%	0.0%	78.3%	0.0%	0.0%	14.1%	16.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-2.6%	12.7%	7.7%	5.4%	11.9%	7.7%	9.2%	8.7%
Return on invested capital	2.1%	24.6%	3.7%	3.8%	6.9%	4.8%	3.7%	3.4%
Return on assets	-1.6%	8.3%	5.1%	3.7%	7.4%	4.5%	4.5%	4.1%
Free cash flow yield	8.9%	6.4%	4.6%	19.9%	0.6%	8.2%	17.9%	-5.3%
Earnings yield	-2.3%	9.6%	7.0%	7.7%	9.8%	13.0%	26.9%	11.9%
Enterprise value	₹7.8B	₹8.3B	₹6.1B	₹3.8B	₹6B	₹3.4B	₹3.7B	₹4.5B
Net debt / EBITDA	10.78×	1.99×	1.69×	1.55×	1.38×	1.88×	3.8×	3.65×
Cash conversion cycle (days)	170	239	178	167	174	301	170	121