Sayaji Industries Limited (SAYAJIIND.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

-190.1%

-₹93.29

vs ₹103.50 price

Levered DCF

-₹236.89

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.05

Grey zone

Rating

A-

Overall 4 / 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	168.52×	-17.89×	-9.43×	14.25×	7.2×	5.95×	-24.19×	1.76×
P/B	2.49×	2.19×	1.07×	0.89×	1.23×	1.05×	0.74×	2.2×
P/S	0.22×	0.2×	0.11×	0.1×	0.17×	0.18×	0.09×	0.28×
EV / EBITDA	11.72×	19.91×	35.15×	6.61×	4.66×	4.45×	8.76×	5.89×
Gross margin	17.3%	13.6%	5.6%	26.1%	31.6%	34.8%	7.9%	31.5%
Operating margin	1.7%	-3.1%	-1.1%	0.6%	4.5%	7.1%	0.9%	2.6%
Net margin	0.1%	-1.1%	-1.2%	0.7%	2.4%	3.0%	-0.4%	3.9%
Current ratio	0.54×	0.53×	0.62×	0.64×	0.72×	0.65×	0.59×	0.66×
Debt / equity	2.45×	2.42×	1.66×	1.11×	1.02×	1.5×	1.83×	1.86×
Interest coverage	0.73×	-1.59×	-0.74×	0.55×	3.17×	2.92×	0.36×	1.35×
Dividend yield	0.0%	0.0%	0.0%	0.6%	0.5%	0.0%	2.7%	0.8%
Payout ratio	0.0%	0.0%	0.0%	8.8%	3.3%	0.0%	-66.4%	5.6%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.5%	-12.3%	-11.3%	6.2%	17.1%	17.6%	-3.0%	31.3%
Return on invested capital	5.4%	-7.6%	-2.3%	2.0%	9.1%	9.0%	1.1%	5.1%
Return on assets	0.2%	-2.1%	-2.2%	1.7%	4.7%	4.6%	-0.7%	7.7%
Free cash flow yield	-2.9%	-42.3%	-33.0%	-14.4%	28.0%	15.3%	36.6%	-21.8%
Earnings yield	0.6%	-5.6%	-10.6%	7.0%	13.9%	16.8%	-4.1%	14.2%
Enterprise value	₹4.6B	₹4.2B	₹2.8B	₹2.3B	₹2.5B	₹2.4B	₹2B	₹3.3B
Net debt / EBITDA	5.78×	10.4×	21.3×	3.66×	2.11×	2.61×	6.23×	2.69×
Cash conversion cycle (days)	-8	4	-5	-2	-2	15	3	27