SBEC Systems (India) Ltd. (SBECSYS.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

-172.0%

-₹12.99

vs ₹18.03 price

Levered DCF

-₹12.70

After debt service

Piotroski score

—

Altman Z-score

—

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	11.3×	6.66×	20.23×	19.73×	2.65×	-95.3×	-25.66×	0×
P/B	-1.6×	-1.33×	-1.84×	-1.37×	-0.2×	-0.19×	-1.59×	0×
P/S	4.94×	4.99×	8.44×	6.92×	1.16×	0×	0×	0×
EV / EBITDA	17.92×	12.97×	18.35×	18.11×	9.7×	-612.38×	2,025,685.32×	0×
Gross margin	100.0%	100.0%	100.0%	100.0%	100.0%	0.0%	0.0%	0.0%
Operating margin	52.5%	73.4%	79.0%	88.6%	89.8%	0.0%	0.0%	0.0%
Net margin	43.7%	74.9%	41.7%	35.1%	43.8%	0.0%	0.0%	0.0%
Current ratio	0.2×	0.21×	0.13×	0.12×	0.04×	0.03×	0.03×	0.08×
Debt / equity	-2.28×	-1.77×	-1.14×	-1.06×	-1.01×	-1.01×	-1.01×	-1.02×
Interest coverage	0.83×	2.01×	2.48×	2.54×	4.53×	-180×	0×	0×
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	-14.1%	-20.0%	-9.1%	-6.9%	-7.6%	0.2%	0.0%	0.0%
Return on invested capital	12.9%	25.4%	113.4%	263.8%	1198.7%	-14.3%	0.0%	0.0%
Return on assets	9.6%	21.5%	52.4%	82.0%	310.0%	-12.4%	0.0%	0.0%
Free cash flow yield	-3.3%	-22.3%	4.4%	9.5%	62.7%	-7.3%	-1.4%	0.0%
Earnings yield	8.8%	15.0%	4.9%	5.1%	37.7%	-1.0%	0.0%	0.0%
Enterprise value	₹414.5M	₹376.9M	₹435.9M	₹387M	₹206.3M	₹220.5M	₹478.1M	₹175.7M
Net debt / EBITDA	10.53×	7.39×	7.03×	7.9×	8.08×	-516.54×	786,278.54×	0×
Cash conversion cycle (days)	153	167	103	0	0	0	0	0