SEPC Limited (SEPC.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

-87.1%

₹0.63

vs ₹4.88 price

Levered DCF

-₹84.58

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

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	16.2×	98.13×	105.13×	-272.8×	-2.94×	-2.18×	-2.88×	27.1×
P/B	0.45×	1.61×	1.98×	1.23×	1.05×	0.39×	0.19×	0.66×
P/S	0.82×	4.06×	4.26×	3.53×	2.35×	0.68×	0.19×	0.69×
EV / EBITDA	10.63×	32.63×	35.42×	17.32×	-17.61×	-18.53×	31.22×	11.05×
Gross margin	12.3%	20.9%	16.7%	15.8%	10.9%	3.9%	14.3%	16.5%
Operating margin	6.9%	7.6%	5.0%	-16.4%	-32.1%	-13.4%	4.5%	11.6%
Net margin	5.1%	4.2%	4.1%	-1.3%	-80.0%	-30.9%	-6.4%	2.6%
Current ratio	2.54×	2.91×	2.43×	2.2×	1.13×	1.34×	1.63×	1.56×
Debt / equity	0.18×	0.24×	0.38×	0.38×	1.33×	0.83×	0.58×	0.52×
Interest coverage	1.78×	1.02×	0.55×	-0.92×	-0.84×	-0.62×	0.48×	1.11×
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	2.8%	1.6%	1.9%	-0.5%	-35.7%	-17.9%	-6.5%	2.4%
Return on invested capital	2.7%	1.7%	1.6%	0.8%	-5.9%	-4.0%	2.7%	6.2%
Return on assets	1.7%	1.0%	1.0%	-0.2%	-11.9%	-7.4%	-3.0%	1.0%
Free cash flow yield	-32.4%	-5.5%	-5.1%	1.6%	-9.3%	-14.3%	-3.8%	35.8%
Earnings yield	6.2%	1.0%	1.0%	-0.4%	-34.0%	-45.8%	-34.5%	3.7%
Enterprise value	₹11.5B	₹27.8B	₹28.3B	₹17.1B	₹17.5B	₹12.2B	₹9B	₹14.6B
Net debt / EBITDA	2.59×	4.13×	5.47×	3.8×	-9.81×	-12.6×	23.46×	4.78×
Cash conversion cycle (days)	426	564	580	554	873	557	261	234