Seshasayee Paper and Boards Limited (SESHAPAPER.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

+263.8%

₹757.21

vs ₹208.15 price

Levered DCF

₹507.04

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.19

Safe 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	18×	14.59×	6.83×	3.59×	9.55×	9.16×	3.48×	6.17×
P/B	0.73×	0.8×	0.97×	0.87×	0.84×	0.85×	0.61×	1.33×
P/S	0.87×	0.91×	1.03×	0.68×	0.78×	1.25×	0.54×	0.9×
EV / EBITDA	10.46×	15.09×	4.77×	2.44×	5.24×	6.98×	1.52×	3.81×
Gross margin	10.1%	33.0%	45.3%	29.0%	16.4%	17.5%	41.9%	37.7%
Operating margin	3.4%	7.2%	16.4%	23.3%	8.8%	9.0%	20.3%	20.0%
Net margin	4.8%	6.2%	15.0%	19.0%	8.2%	13.7%	15.5%	14.6%
Current ratio	2.41×	3.41×	3.34×	3.03×	2.42×	2.59×	2.57×	1.76×
Debt / equity	0×	0.04×	0.01×	0×	0×	0.01×	0.01×	0.11×
Interest coverage	17.46×	32.81×	138.35×	152.21×	122.05×	74.05×	49.06×	22.22×
Dividend yield	1.1%	2.0%	2.0%	1.1%	1.5%	2.6%	4.8%	1.9%
Payout ratio	19.1%	28.9%	14.0%	4.0%	14.3%	23.7%	16.7%	11.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.0%	5.5%	14.2%	24.2%	8.8%	9.3%	17.6%	21.5%
Return on invested capital	2.0%	4.6%	10.7%	20.4%	6.3%	5.4%	13.6%	16.0%
Return on assets	3.3%	4.3%	11.3%	19.0%	6.6%	7.0%	12.4%	13.4%
Free cash flow yield	5.2%	-7.8%	8.8%	20.9%	16.2%	-11.2%	19.1%	20.5%
Earnings yield	5.6%	6.9%	14.6%	27.9%	10.5%	10.9%	28.8%	16.2%
Enterprise value	₹14.8B	₹16.6B	₹18.6B	₹13.7B	₹9.4B	₹8.7B	₹4.4B	₹12.2B
Net debt / EBITDA	-0.06×	0.62×	0.03×	-0.09×	-0.62×	-0.85×	-0.67×	0.1×
Cash conversion cycle (days)	69	68	36	20	4	70	12	-31