Setubandhan Infrastructure Limited (SETUINFRA.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

-4517.1%

-₹15.90

vs ₹0.36 price

Levered DCF

-₹13.95

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

-0.46

Distress zone

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
P/E	123.29×	-5.41×	-0.35×	-0.11×	336.54×	11.88×	7.11×	19.68×
P/B	0.23×	0.67×	0.18×	0.06×	0.35×	0.66×	0.42×	0.68×
P/S	0.16×	0.3×	0.18×	0.03×	0.17×	0.29×	0.23×	0.4×
EV / EBITDA	49.27×	-31.31×	-3.28×	-1.84×	11.59×	6.84×	5.13×	7.35×
Gross margin	6.9%	-0.1%	-14.3%	2.5%	4.5%	7.7%	5.5%	10.5%
Operating margin	0.6%	-4.7%	-48.2%	-27.4%	2.3%	5.2%	4.5%	6.0%
Net margin	0.1%	-5.6%	-51.1%	-28.5%	0.1%	2.5%	3.3%	2.0%
Current ratio	0.96×	0.95×	0.99×	1.17×	1.91×	1.96×	1.71×	1.7×
Debt / equity	1.59×	1.61×	1.4×	0.86×	0.34×	0.3×	0.31×	0.25×
Interest coverage	18.71×	-6.64×	-46.36×	-12.8×	0.75×	2.16×	1.66×	1.77×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.5%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	10.6%	0.0%

Key metrics by fiscal year

Metric	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Return on equity	0.2%	-12.4%	-51.4%	-52.3%	0.1%	5.6%	6.0%	3.5%
Return on invested capital	0.0%	-3.5%	-17.4%	-23.1%	3.1%	5.5%	4.2%	4.3%
Return on assets	0.0%	-3.0%	-15.7%	-21.1%	0.1%	2.9%	2.7%	1.7%
Free cash flow yield	22.2%	-4.0%	-106.9%	-516.4%	-6.8%	1.8%	-24.2%	29.5%
Earnings yield	0.8%	-18.4%	-284.2%	-875.1%	0.3%	8.4%	14.1%	5.1%
Enterprise value	₹895.5M	₹1.1B	₹862.1M	₹727.2M	₹853.4M	₹1.2B	₹811.7M	₹982.4M
Net debt / EBITDA	43.05×	-21.96×	-2.89×	-1.71×	5.62×	1.98×	1.91×	1.54×
Cash conversion cycle (days)	229	140	289	143	95	106	166	167