SBFC Finance Limited (SBFC.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

+312.9%

₹361.53

vs ₹87.56 price

Levered DCF

-₹935.51

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.07

Distress zone

Rating

B-

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	20.33×	27.98×	35.43×	65.39×	151.15×	115.25×	192.08×	256.11×
P/B	2.46×	3.09×	3.03×	5.68×	7.62×	8.14×	6.68×	7.1×
P/S	5.52×	7.96×	8.98×	15.41×	23.95×	32.54×	29.14×	49.57×
EV / EBITDA	21.55×	27.22×	36.17×	61.04×	109.58×	82.94×	81.31×	3,248.21×
Gross margin	50.4%	54.6%	44.0%	35.2%	25.9%	4.7%	-12.8%	100.0%
Operating margin	43.1%	45.0%	32.2%	25.1%	11.3%	-9.4%	-31.9%	46.7%
Net margin	27.2%	27.9%	25.3%	23.5%	15.7%	28.2%	15.3%	19.4%
Current ratio	733.08×	0×	1.68×	1.09×	0×	0×	2.41×	0×
Debt / equity	1.92×	1.65×	1.44×	2.16×	2.28×	2.3×	2.26×	0.96×
Interest coverage	0×	7.96×	41.06×	32.43×	2.8×	-1.07×	-1.77×	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	12.1%	10.8%	8.5%	8.7%	5.0%	7.1%	3.5%	2.8%
Return on invested capital	4.8%	4.9%	3.3%	2.2%	0.7%	-0.4%	-0.9%	2.3%
Return on assets	4.1%	4.0%	3.4%	2.6%	1.4%	2.0%	0.8%	1.4%
Free cash flow yield	-20.8%	-14.5%	-13.9%	-12.8%	-8.5%	-3.0%	-5.7%	-6.0%
Earnings yield	4.9%	3.5%	2.8%	1.5%	0.7%	0.9%	0.5%	0.4%
Enterprise value	₹158.5B	₹148.5B	₹121.8B	₹133.7B	₹126B	₹124.4B	₹88.3B	₹69.2B
Net debt / EBITDA	9.08×	9.16×	11.19×	16.23×	24.25×	17.53×	19.03×	311.5×
Cash conversion cycle (days)	2,155	-2	-1	1	2,658	2,520	2,443	0