Sarthak Industries Limited (SARTHAKIND.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

-243.0%

-₹32.17

vs ₹22.50 price

Levered DCF

-₹509.78

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

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	6.04×	9.99×	31.4×	39.12×	47.38×	4.76×	2.72×	14.31×
P/B	0.46×	0.67×	0.53×	0.77×	2.02×	0.26×	0.21×	0.2×
P/S	0.07×	0.14×	0.7×	0.51×	0.49×	0.07×	0.08×	0.06×
EV / EBITDA	5.62×	5.22×	10.23×	13.31×	19.04×	3.24×	1.02×	2.59×
Gross margin	4.6%	5.6%	9.4%	9.2%	6.5%	8.8%	8.4%	8.3%
Operating margin	0.9%	1.6%	-5.5%	-0.0%	1.1%	1.8%	1.9%	1.9%
Net margin	1.2%	1.4%	2.2%	1.3%	1.0%	1.6%	2.8%	0.4%
Current ratio	1.51×	1.9×	2.77×	1.65×	1.37×	1.55×	1.94×	1.28×
Debt / equity	0.32×	0.13×	0.04×	0.08×	0.1×	0.02×	0.01×	0.09×
Interest coverage	1.19×	2.61×	-2.43×	-0.01×	1.43×	7.41×	2.47×	1.73×
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	7.6%	6.7%	1.7%	2.0%	4.3%	5.6%	7.8%	1.4%
Return on invested capital	3.6%	5.1%	-3.0%	-0.0%	3.0%	4.6%	3.6%	2.2%
Return on assets	3.3%	3.9%	1.2%	1.1%	2.1%	3.0%	4.4%	0.6%
Free cash flow yield	-112.2%	-52.6%	-9.5%	-27.9%	-4.1%	-26.1%	-347.2%	83.4%
Earnings yield	16.5%	10.0%	3.2%	2.5%	2.1%	21.0%	36.7%	7.0%
Enterprise value	₹354M	₹277M	₹211.2M	₹320.2M	₹821.6M	₹98.4M	₹53.1M	₹80.2M
Net debt / EBITDA	2.28×	-0.1×	-0.09×	0.92×	0.57×	-0.04×	-0.4×	0.53×
Cash conversion cycle (days)	44	50	360	56	-20	-4	92	-10